Arnold, John; McHugh, Michael T., CFA; Wellum, Johnathan M., CFA
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2002 a modest year for equity markets. 2002 a low inflation year globally driven by low fuel prices. Productivity. Major theme for 2002 is buy European equities. The growing Federal European Union and that will mean. The US market. Bull and bear markets. Equities and dividends. A more balanced relationship between income and capital in the USA? No relief to be found in Asia. Avoiding Japan and why. Beware the future of the banking sector.
In conclusion, economic recovery is to be expected in 2002 but stockmarkets will be challenged by continued overvaluations as a profit recovery needs time to develop.
Michael T. McHugh:
First, a comment on the role of forecasts. Two components to the speaker's investment outlook. Three expected developments. Four themes that characterize the speaker's fixed income outlook. Always beig alert to unforeseen events that cause a dramatic re-pricing of capital markets.
Jonathan M. Wellum:
First, several well-known expressions. Our Investment Philosophy - The Power of Focus, with a detailed explication. General Comments on the TSE 300. Current Areas of Focus/Opportunities. Long-Term Challenge for Canadian Equity Markets. What will have the greatest impact on our country and on our ability to create wealth over the next ten to twenty years. The hope for Canada as a nation characterized by integrity.