Different Makes a Difference

The Odlum Brown Research Blog

  • U.K. Provides World Valuable Lesson in Unintended Consequences

    By Murray Leith CFA, Executive Vice President & Director, Investment Research
    Monday, October 03, 2022
    Something big happened in the world of finance this week, yet many will not have noticed. U.K. defined benefit pension plans were on the brink of insolvency following a revolt in the market for U.K. bonds.
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  • Patience Remains a Virtue

    By Stephen Boland CFA Equity Analyst
    Wednesday, July 13, 2022
    On June 13, 2022, the S&P 500 Index entered bear market territory, defined as a decline of at least 20%. As of today, the index is still down 20% from its peak on January 3. As with all bear markets, there are plenty of bleak headlines foretelling further doom and gloom. We don’t know when or at what level the S&P 500 will bottom. However, some recent research by Miller Value Partners is an encouraging reminder that patience is a virtue when it comes to owning stocks.
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  • Dealing With Volatility: Treat Your Stocks Like You Treat Your Home

    By Murray Leith CFA, Executive Vice President & Director, Investment Research
    Friday, May 13, 2022
    Stocks are struggling this year. The major equity benchmarks are down meaningfully, and many individual stocks are down considerably more. While it’s quite possible that equity markets will correct further in the near term, we are increasingly optimistic regarding the medium- and long-term prospects for the stocks we own and recommend.
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  • Repost: Worrying Too Much About Capital Gains Can Be Taxing

    By Fai Lee CGA, CFA, Equity Analyst
    Tuesday, May 03, 2022
    Taxes are inevitable, and long-term investors often face the reality of paying capital gains taxes when they sell stocks in their non-registered investment accounts. When this occurs, investors are left with less money to reinvest and compound over time. To offset this impact, investors want the return from whatever new stock they buy to be higher than the stock they sell. Interestingly, the theoretical break-even return required from a new stock to justify a switch may not be as high as some think. This can be illustrated through an example.
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  • Our 28th Annual Address

    By Murray Leith CFA, Executive Vice President & Director, Investment Research
    Thursday, March 03, 2022
    Thank you to everyone who joined us online yesterday for our 28th Annual Address. View the blog or our website for a link to a recording of the full presentation.
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