Shouldice Wealth

Markets are up big today despite a wild and ongoing US election. Why is this? We believe there are two major reasons: 1. Despite fears of intimidation, violence and record turnout, election day proceeded relatively smoothly. 2. While results are not final, it appears the US will have a divided government, meaning no single party controls all 3 branches. Markets hate uncertainty and divided governments are less likely to pass sweeping policy changes.... Regardless of the final outcome, it's clear half of Americans will be unhappy with the result. If the election didn't go the way you wanted it to, you might be inclined to sell your investments, convinced the world is going in the wrong direction. To be a successful investor, you need to separate your personal opinions and biases from your investment decisions. Obviously this is easier said than done, so if you need help, please reach out. #ShouldiceTips #Markets #Investing #2020election #USelection #Money #Finance

CFA Society Calgary Oil & Gas Forecast this morning. I've consolidated some key points below: Economy Canada’s 2020 GDP to contract by 7%, rebound by 4 to 7% in 2021 returning us to pre-covid levels. Alberta’s contraction more severe due to the double-whammy of covid and oil prices. Could take until 2023 to return to pre-covid levels.... US Election and Pipelines Line 3 and TMX piplines a go, while Keystone likely scrapped if Biden wins. Sufficient take-away capacity without keystone to prevent differentials from blowing out. A Biden win could lead to regulation on US fracking, higher taxes and carbon taxes, all of which makes Canadian energy relatively more competitive. Oil Price Forecast Demand is down 6M bpd, but production down more. Some is temporary OPEC curtailments, some is a permanent structural hit. Some demand permanently destroyed, like business travel. A second wave of COVID is unlikely to cause a complete collapse in prices as lockdowns more targeted. $50-60/bbl in 2021. Consolidation Cenovus acquisition of Husky likely first of many. We need cost cutting and diversification. ESG in early stages, possible gas considered an environmental positive when displacing coal. Diversification includes renewables, drillers getting into geothermal, underground CO2 sequestration or hydrogen

Climate change is a complicated and politically polarized subject. Kurzgesagt has done an excellent job breaking down the major drivers into four categories: 1. Population size: People need things to live, and most things that we make produce CO2, so as populations grow so do emissions. 2. Economic Growth: As our quality of life improves, so do emissions.... 3. Energy Intensity: We can reduce emissions by using energy more efficiently, meaning LED lightbults, smaller/more efficient vehicles/transportation (work from home?), better insulation, etc. 4. Emissions per Energy: This means moving from coal, to gas, to renewables where we can produce more energy per unit of CO2 emitted. We all have a role to play in this and the sooner we acknowledge this and stop pointing the finger at others, the better off we'll be. https://www.youtube.com/watch?v=wbR-5mHI6bo&list=WL&index=1

Markets climbed ever higher in Q3 on the back of ongoing monetary and fiscal stimulus from central banks and governments, but cracks are beginning to show. With cases rising, the upcoming US election uncertainty and a stalling recovery, we're recommending caution over the short-term while positioning for more upside over the medium to long-term. https://www.shouldicewealth.com//q3-2020-investment-commen #Investing #Money #Markets #Finance #Covid19 #Election2020

Had a great time chatting with Keepin' it YYC. They're a non-profit helping to get the word out and encourage everyone to support local. There's lots of great local businesses out there, some of which are really struggling through this pandemic, so I believe the work they're doing is especially important at this time. #yyc #business #money #finance #keepinityyc https://www.youtube.com/watch

After a 40%+ rally in global equities since March, we believe it is prudent to take some risk off the table. In this market update we talk about rising COVID-19 cases, US congress gridlock, the new phase of the US-China trade war and how we're protecting client portfolios from these headwinds. #Investing #Markets #Money #Finance #covid19 https://www.shouldicewealth.com/blogs/post/Coronavirus3