News

January 2012 Outlook

January 11, 2012. It is our custom at the start of each new year to review our prior year's Financial Markets Forecast and the results of our investment strategy while keeping in mind that the forecast was a point-in-time view and evolved as events unfolded throughout the year.

The overriding theme in our 2011 Financial Markets Forecast was that both monetary and fiscal policies for developed nations were overly aggressive but essential if economic growth was to be sustained. However, we noted that ultimately they were not sustainable and that at some point exit strategies would have to be implemented. The timing and magnitude of any pullback from these overly expansionary programs would have major implications for the global economy and financial markets. This proved to be the case.

Please download your copy of Outlook by clicking on the link above.

December 2011 Outlook

December 14, 2011. Investors remain confused when it comes to the European sovereign debt crisis, which has emerged as the pre-eminent tail risk confronting global financial markets. The confusion arises because of the cast of characters involved, from politicians to central bankers to the IMF (International Monetary Fund), and their somewhat unpredictable actions. There is also confusion surrounding the very nature of the problem and the degree to which the problem is fiscal or monetary. In terms of the potential for an extreme outcome, it is looming large because there is the potential for another global financial crisis and/or global recession if things are not handled effectively.

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November 2011 Outlook

November 10, 2011.We believe that the general price trend for North American equity markets is being determined by the outlook for the US economy, accompanied by a big dose of volatility emanating from policy pronouncements out of Europe. While stock markets started to rally in early October as the economic data started to surprise on the upside, a steady stream of news out of Europe has kept financial markets on edge and daily market volatility has remained elevated. Investors should on balance be encouraged with recent developments, but there are still a number of risks that need monitoring.

Please download your copy of Outlook by clicking on the link above.

October 2011 Outlook

October 19, 2011. It's all about macro, not micro when it comes to financial markets. Investors are currently focused on the bigger picture macro events while stock-specific fundamentals are taking a back seat. This has led to a high level of anxiety among investors because of the uncertainty surrounding three major macro factors: the European debt crisis, the prospects for a US recession and a hard landing in China.

Please download your copy of Outlook by clicking on the link above.

September 2011 Outlook

September 8, 2011. "The stock market has forecast nine of the last five recessions" (Paul Samuelson – Nobel Economist). Over the last sixty years the stock market has signalled 15 times that a recession was in the offing and was correct on 8 of those occasions — a bit of a coin toss. Once again Mr. Market is signalling that there is a better than 50% probability that a North American recession is just looming over the horizon, and Mr. Market is not alone, he has company. Other leading indicators are all pointing to a slump in economic activity. Even though their records are not any better than Mr. Market's, in aggregate these indicators are worth paying attention to.

But, so too are a variety of other leading indicators that are signalling further expansion.

Please download your copy of Outlook by clicking on the link above.

Scotia Chooses CC&L Investment Management

September 7, 2011. Scotia Asset Management L.P. announced today the appointment of Connor, Clark & Lunn Investment Management as portfolio advisor to the Scotia Private Canadian Mid Cap Pool. Please click on the link above to read their press release.

August 2011 Outlook

August 11, 2011. Investors are running scared because they believe that the risk of an adverse financial event has escalated. This could seriously jeopardize the global economic recovery. At the top of the list of concerns is the European debt crisis. A close second is the concern that US politicians are basically ineffectual and incapable of dealing with the nation's fiscal problems. These concerns have arisen at a time when the authorities in emerging markets have been trying to rein in inflation and economic growth, which has led to a global mid-cycle slowdown making the global recovery more vulnerable to external shocks. While the situation has become more tenuous, not all is lost.

Please download your copy of Outlook by clicking on the link above.

CC&L Makes Brendan Woods' Canadian TopGun List

July 14, 2011. Today Brendan Woods International announced their 50 Canadian TopGun Investment Minds, and four members of our Fundamental Equity team have made the list. Congratulations to Gary Baker, Mark Bridge, John Novak and Steven Vertes.

For more information on the award, please visit TopGunPress.com.

July 2011 Outlook

July 6, 2011. Investors are in a quandary these days, and sentiment is flipping back and forth from being either bullish or bearish. Market strategists refer to this as the "risk on/risk off" trade. Prior to the last week of June, investors had been in "risk off" mode for over six weeks as concerns over the Greek debt crisis, Chinese monetary policy (tightening), Japanese supply chain disruptions, US economic fragility and high and rising energy prices precipitated a flight to safety. However, it now appears investors have changed their minds and are in the process of switching to "risk on" mode. While there has been improvement on a number of key issues, we are not yet totally out of the woods.

Please download your copy of Outlook by clicking on the link above.

The CC&L Foundation Helps Build a New Y

June 29, 2011. The Connor, Clark & Lunn Foundation is a long-time supporter of the YMCA/YWCA. Its latest initiative is a donation to help build the Ches Penney Family Y in St. John's, Newfoundland.

Please read the announcement by clicking on the link above.

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