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Q2 2016 Quarterly Letter

July 27, 2016

Another wild time in Q2 with the roller coaster ride associated with the “Leave” vote in the UK referendum on E... Read More

Q1 2016 Quarterly Letter

April 8, 2016

Well that was quite the wild ride! The year started off with a big thud as equities and credit were sold hard post ... Read More

Rise of the Robots

July 21, 2015

It has been awhile since I last posted on my blog. Quite a bit has happened in the interim at Arrow and in my person... Read More

Weekend Reads

September 26, 2014

It’s been 2 years since British author Ian McEwan published Sweet Tooth – a superb book full of memora... Read More

Time to look Again at Trend Following Strategies?

August 19, 2014

I came across an interesting article authored by the folks at Altegris Advisors in the US – the full piece is availabl... Read More

Long Weekend Reading : Arrow Q2 Commentary

June 30, 2014

With the long weekend upon us, I thought this would be great opportunity to share some weekend reading with you. Please ... Read More

Joe’s Team

June 15, 2014

This past Saturday I had the privilege of participating in the 10th Annual Joe’s Team Race in support of cancer r... Read More

Critical Juncture for C$!

June 14, 2014

The recent “hot” readings in Canadian CPI figures have put the BOC’s Stephen Poloz in the hot seat. While most Can... Read More

Leavin' lost Vega!

May 13, 2014

I received a post from Ben Hunt at Salient Partners entitled "Equity Volatility-of-Volatility Falls to All-Time... Read More

Q1 Quarterly Commentary

May 9, 2014

If you are looking for some weekend reading material, I invite you all to have a read through our first quarterly le... Read More

Market History Rhymes

March 6, 2014

From our friends at Newedge comes this interesting note.  The current bull market is having its fifth birthday ... Read More

Making Love to Short Term Performance

February 14, 2014

Special Valentine's Day Guest Blog Post by: Sean Wynn Hi all, In case you ever needed confirmation that Jim ... Read More

A Year in Review and an Outlook Ahead

January 28, 2014

2013 seemed to be quite an eventful year all around. With the FED's tapering announcement, U.S. equities hitting rec... Read More

Top 10 New Year’s Predictions

January 3, 2014

A fresh new year is upon us and it's time for my annual Top 10 forecast of what is to come in 2014. For those of you... Read More

Remember 2013

December 27, 2013

For me, with each passing year, I seem to find a little more time to think about we lost relative to what we have to... Read More

Retirement Crisis in Canada?

December 18, 2013

With the provincial and federal finance minister meeting recently on the idea of expanding the CPP, The Fraser Insti... Read More

It's Official!

December 9, 2013

The Exemplar funds have officially joined the Arrow family! Earlier this week, we announced the exciting news that wi... Read More

More Cowbell Please Ms. Yellen

November 9, 2013

Happy Friday, I wanted to leave you this week with my quarterly commentary outlining the predominant macro issues fac... Read More

Open your Hearts for Hedge Funds Care Canada

October 25, 2013

The 10th annual Hedge Funds Care Canada gala took place this past Wednesday at Spice Route in Toronto. This year's e... Read More

Liquidity can evaporate when it's needed most

September 11, 2013

An FT article this week termed the recent bond sell-off a taper-tantrum and asked if this might become a full blown ... Read More

The very idea of an optimal portfolio has changed

August 20, 2013

The Times newspaper recently reported a surprising historic discovery deep in the vaults of a Berlin archive.  ... Read More

Return of the Gold Bugs?

August 15, 2013

The World Gold Council* released its second quarter report today and it shows what many observers already know i.e. ... Read More

Welcome to the Market Zoo

August 2, 2013

Happy Friday everyone, Here is some weekend reading on our current thoughts in the markets.   For all ... Read More

"Pile On" Canada?

May 23, 2013

It would appear that Canada is moving from being on top of the world in terms of economic performance and organizati... Read More

Battle of the Professors!

May 7, 2013

Without a doubt everyone in the investment business has a copy of the 2009 best seller “This Time is Different:&nb... Read More

Japan: Land of the Rising Sun?

May 3, 2013

Happy Friday everyone, While reflecting upon the first quarter of 2013, three prominent themes which really stood out... Read More

Thinking, Fast & Slow

April 18, 2013

The following is a brief talk I gave this morning at the 2013 3rd Annual Canadian Investment Forum hosted by my good... Read More

When Irish Eyes are Smiling

March 14, 2013

With St. Patrick's Day right around the corner it is a pity the Irish have not had much luck the past few years. The... Read More

"Measuring Economic Policy Uncertainty"

March 12, 2013

We all know that the democratic process that we cherish can create less than optimal economic growth. Politicians can be... Read More

"The Circle of Life"

February 7, 2013

There is an old adage in the investment business that you ride your winners and sell your losers. That adage applies... Read More

Year-End Market Review & Outlook

February 6, 2013

This is the time of year where we get to reflect on the past year and forecast or better “guess” what is to be expec... Read More

John Wood - RIP

January 30, 2013

The Canadian investment fund industry lost one of its most successful pioneers with the passing of John Wood.  ... Read More

Top 10 Surprise List of 2013

January 4, 2013

Last year at this time I posted my less than serious Top 10 Surprise List for 2012 (Click here to review). As I went... Read More

More Meaningless Predictions for 2013?

January 2, 2013

As we finish another year, lovers of all social sciences gather round the tree of life to prognosticate on what is i... Read More

Rock star Central Banker!

December 19, 2012

Last week I had the pleasure of attending a sold-out (1500+ people) luncheon speech delivered by Bank of Canada Gove... Read More

A Thanksgiving Turkey Post-Mortem

November 27, 2012

I recently had a chance to re-read the updated version of The Black Swan by Nassim Taleb and I was reminded of the p... Read More

The Twinkie Debacle

November 20, 2012

With the election over, everyone can go back to work – well, not everyone. The news of the demise of Hostess ... Read More

A few additions to your weekend reading list!

November 9, 2012

Happy Friday! Here are some commentaries for your weekend reading fix.  Michael Yhip (President & CIO,&nb... Read More

Thank You Don Coxe!

November 6, 2012

Donald G. M. Coxe Last week, Don Coxe announced that the December issue of “Basic Points” will be his last afte... Read More

European Update!

October 23, 2012

I am as sick as you about the continual EU updates and meetings and dinners and visits and yada yada...so when I saw thi... Read More

Well here is a surprise!

October 11, 2012

As you know, nothing in life is certain, save for death and taxes. This little anecdote has gone viral again (it ha... Read More

Fine Wine Funds – Caveat Emptor!

October 1, 2012

I am a big fan of wine and, as my friends know, my passion are the wines of Burgundy.  I have many friends who also... Read More

A Good Book and a Funny Video for the Long Weekend!

August 30, 2012

Ian McEwan is without a doubt one of my favourite novelists.  His latest book “Sweet Tooth” was released Tuesda... Read More

VIX and Monetary Policy

September 26, 2012

I have discussed in the past using the VIX as a hedge for equity portfolios. In the past few weeks, I have received quit... Read More

Back to School Day!

September 4, 2012

Welcome back to reality!  Hopefully the first day back is a good one for the kids – and for the markets as well. ... Read More

Global Slowdown Continues

August 22, 2012

The data last night out of Japan was not pretty. Japanese exports, especially those to the EU, fell dramatically as July... Read More

More Japanese Red Flags

August 8, 2012

Bloomberg BRIEF Newsletter was out yesterday with a terrific note on Japanese demographics and its impact on GDP growth ... Read More

All Fogged In!

August 7, 2012

Back from holidays now - back to regular posting! First post is our second quarter update on the big macro issues facing... Read More

Happy Birthday iPhone!

June 27, 2012

Give or take a day, Apple's iPhone turns 5 today! I think it is safe to say that this device has had a revolutionary imp... Read More

More on House Prices

June 26, 2012

In last week’s post on Canadian and international housing, I suggested shorting the C$ on the potential fall in our ho... Read More

Canada's Housing Boom - Too Good to be True? Part II

June 21, 2012

As a follow up to our blog post on February 27, 2012 (Click here to read), this morning Canadian Minister of Financ... Read More

You’re Not Special

June 15, 2012

I promised to pass along various blogs that I really enjoy reading and following. Given that many of my contemporaries a... Read More

Happy Tax Freedom Day

June 11 2012

Here is a special message and rap style video from The Fraser Institute.   I especially love the lines:  ... Read More

Facebook

May 17, 2012

I am sure that everyone will have a view on the Facebook ("FB") IPO. It has generated a lot of debate and dialogue on al... Read More

Macro Man

May 16, 2012

A few readers have asked me for a list of my favourite bloggers. I have posted on a few (eg. The Big Picture, ... Read More

Thar She Blows!

May 11, 2012

Is it any wonder retail investors have abandoned the equity markets? JP Morgan's Jamie Dimon announced after market l... Read More

Some Updated Macro Thinking

May 10, 2012

Garrison Hill's Michael Yhip has put together some thoughts on recent developments in Europe, equities and crude... Read More

An Amazing Guy

May 9, 2012

I was in Vancouver this past Monday when I caught up with Guy Caplan - one of our portfolio managers at Raven Rock. He w... Read More

All Clear for Take-Off?

May 7, 2012

With so much going on in the world, I thought I would share some of our views on the global economy and securities marke... Read More

A New Dawn for Japan

May 1, 2012

Peter Tasker Arcus Investment Management For those who follow my blog, you know that I enjoy following the sharp... Read More

China's Demographics

April 23, 2012

I thought Bloomberg's recent article regarding China's now 30-year-old "One Child" policy was very timely given its' eco... Read More

The Opportunity in Japan!

March 26, 2012

I'm back from a restful time off with the family in Belize for spring break. It's an amazing country (Mayan/Spanish hist... Read More

Canada's Housing Boom - Too Good to be True?

February 27, 2012

Last week I received an email from Lombard Street Research, a very well-respected macro research outfit in London, UK to... Read More

Happy Valentine’s Day Thoughts

February 14, 2012

I suppose it should not be a surprise that today, Sports Illustrated decided to pre-release its’ annual swimsuit editi... Read More

Alpha at the Super Bowl!

February 3, 2012

After such a great start to the year for equity markets (S&P up 4.4% in January), the statisticians are out in full ... Read More

Food Stamps – A Political Hot Potato!

January 20, 2012

I thought we could take a look at food stamps, now that GOP-hopeful Newt Gingrich has labelled President Obama the “be... Read More

Top 10 Surprises for 2012!

January 20, 2012

Number one son, Kim Jong Un, wins the North Korean PGA in a landslide as “All American”, gone rogue, Happy Gilmor... Read More

A few questions for my old University Professors

January 17, 2012

1. How can you have “zero-bound” rates across most of the developed world economies for long periods of time? I un... Read More

Top 10 lists galore!

January 6, 2012

It’s that time of year when we get all those forecasts for what lies ahead in 2012 for financial markets.  The pr... Read More

Happy New Year!

December 30, 2011

On behalf of everyone at Arrow, have a terrific 2012!  And for some final holiday thoughts and wishes we pass it o... Read More

Almost Famous

December 29, 2011

I say almost because this photo from last night’s Raptors game features “Bieber fever” cheering on my beloved ... Read More

Infographic on U.S. Federal Budget

December 13, 2011

If you are a junkie for stats, consider going to the Congressional Budget Office’s website (www.cbo.gov) and sign up f... Read More

Happy Thanksgiving!

November 24, 2011

Happy Thanksgiving to all our American friends and associates! We hope you enjoy this wonderful day with family and frie... Read More

Piling On!

November 24, 2011

Happy Thanksgiving again to all our American friends!  Canadians celebrate this holiday in October – we front- ru... Read More

"Lies, Damn Lies and Government Statistics"

November 15, 2011

It was Mark Twain who coined the phrase, “Lies, damn lies and statistics”. Without a doubt, statistics are often use... Read More

Remembrance Day - 11:11:11:11

November 11, 2011

Established by King George V to mark the date of the official end of WWI, Remembrance Day is a special one for Canadians... Read More

Three Cheers for Speculators!

November 8, 2011

Last week, Neil Mohindra, the Director at the Centre for Financial Policy Studies at the Fraser Institute, penned an Op-... Read More

Hedge Funds Really Do Care!

November 4, 2011

Last night, Hedge Funds Care Canada raised over $225,000 at its’ annual gala.  Now in its’ eighth year, HFCC ha... Read More

MF Global

November 1, 2011

Ahhh, nothing is worse in the morning than the smell of leverage gone very bad. LTCM, Lehman Brothers, and the list goes... Read More

Ray Dalio and the Potential of Class Warfare

October 26, 2011

When Ray Dalio speaks, markets, and especially the media, take notice.  Mr. Dalio, 62, is the founder of Bridgewate... Read More

Trick or Treat

October 20, 2011

October could well go down as the cruelest month, and not just for wild swings in the stock market.  Zero Hedge rep... Read More

A Letter from Goldman Sachs

October 18, 2011

Given that Goldman Sachs reported some disappointing earnings this morning but stock is up over $5 in trading today, a p... Read More

MACRO...MAN!

October 18, 2011

  My apologies for the lack of posts over the past two weeks.  I have been out visiting clients in Canada a... Read More

Is It Possible to Fix the World?

September 30, 2011

As we look at the world after a week where equities around the globe lost roughly 6%, bond yields in the US and Germ... Read More

TGIF - Again!

September 30, 2011

  Thank heavens it is Friday - last day of the week, last day of the month and last day of the quarter. For the ... Read More

Economic Freedom in the World Today

September 29, 2011

As a Trustee of the Fraser Institute, Canada’s leading public policy think tank, I'd like to share with you a new stud... Read More

Leverage to the Rescue!

September 28, 2011

As Yogi Berra aptly put it, “It’s like déjà-vu, all over again.”  ‘If leverage got us into this problem, ... Read More

Don Coxe & "The Deficient Frontier"!

September 22, 2011

Don Coxe's Strategy Journal is always a must-read for me. Coxe has the incredible gift of being able to distill decades ... Read More

Correlation Blues!

September 20, 2011

If you are an investor who prides him- or herself on bottom-up stock picking and prudent sector diversification, you mus... Read More

Gander, Newfoundland & Sept. 11, 2001

September 12, 2011

I wanted to comment last week on the 10th Anniversary of the 9/11 terrorist attacks on the United States of America but ... Read More

Week-end Round Up

September 9, 2011

My apologies for a week between blog postings. The markets have been so fluid that I thought a wrap for the week and som... Read More

Happy Labour Day!

September 2, 2011

Well, sort of anyways. In Canada, we are in decent but not great shape given our unemployment rate is sitting at 7.2%. H... Read More

QE3 - A Second Look

August 31, 2011

I must admit I was really impressed by Mr. Bernanke’s Jackson Hole speech released last Friday morning.  I though... Read More

Some Inspiration in Trying Times

August 26, 2011

As noted over the past week, the lives of two people have deeply touched a great number of people. The first, of cour... Read More

Waiting for Jackson Hole

August 25, 2011

Will he or won’t he? The launching of QE3 by Big Ben is the hot debate this week and we will get our answer tomorrow. ... Read More

Post U.S. Earthquake Images

August 24, 2011

Surveying the damage in the Northeast U.S.....  (source: jmckinley.posterous.com) Investment bankers... Read More

Short-Sale Bans in Europe: "Back to the Future!"

August 12, 2011

Here we go again. As we discussed in earlier blog posts, European banks have a very symbiotic or perhaps "parasitic" rel... Read More

Some Timely Manager Commentaries - Barry Allan (Marret), John Schumacher (East Coast) and Glen Schneider (SG Capital)

August 9, 2011

With yesterday's reminder of life in the markets during the 2008 carnage, below is another quick update from another one... Read More

The Downgrade Parade Continues

August 8, 2011

Well that did not take long! As people in the Arrow office know well by now, whenever I take a holiday in Euroland, the ... Read More

Making Money in a Market Storm

August 8, 2011

As volatility spikes and markets sink around us, a well-run market neutral fund is something that everyone should take a... Read More

Off to Italy! But Not to Monitor Debt Spreads...

August 3, 2011

I am taking a bit of time off with the family and going to Italy to see our daughter compete in the Comen Cup, which... Read More

Canada Day Music List

June 30, 2011

EH – this has nothing to do with markets or investing per se but so what.  It has been a long week for the ... Read More

Irving Fisher Had It Right

July 29, 2011

One of the pleasures of operating in the world of investments is the opportunity to hear and learn from professionals wh... Read More

Canada's Postal Strike

June 27, 2011

Today marked the official end of the 7th Canada Post strike in the past 30 years.  The Canadian Union of Posta... Read More

Act II’s Dennis Leibowitz on US Cable and Telcos

July 22, 2011

Please give this You Tube video a watch. I am always in awe of the experience and insights of great investors and analys... Read More

European Bank Stress Tests - What a Joke!!

July 18, 2011

Now that analysts and investment professionals have a chance to review European banking data, this week should provide a... Read More

FED to the Rescue............Again!!

July 13, 2011

Fed Chairman Ben Bernanke was on the Hill today testifying before the U.S.  House of Representatives Financial Serv... Read More

From Bono to Bonos or “Still Haven’t Found What I’m looking For”!

July 12, 2011

Last night felt like a blast from the past. Bono and U2 performed in Toronto to a sold out crowd of loyal fans that span... Read More

Viva Italia!

July 8, 2011

Or maybe not?  It appears that Italy is today’s problem child in the Eurozone as yields on 10 year Italian govern... Read More

Portugal again!

July 7, 2011

It is a new day so new news for the PIIGS – Portugal was spared the sword, at least temporarily, by JC Trichet, Head o... Read More

Greek Update - Moving to Portugal

July 6, 2011

  Well it only took one day for the ratings agencies to kick another kid on the block – Portugal.  A ... Read More

The Greek Saga Continues

July 5, 2011

There is no question that markets are rallying now on the back of the proposed solution to the € 100 billion Greek deb... Read More

Linkages Part Deux

June 24, 2011

It’s back.......!!  The subprime debt debacle of 2007/2008 will just not die, as evidenced by the Fed’s attempt... Read More

It's a Small World After All

June 21, 2011

Canadian Minister of Finance Jim Flaherty warned Canadians on Monday of the dangers associated with a contagion of a Gre... Read More

Golf for Heart

June 10, 2011

Arrow Capital was pleased to support the “Golf for Heart” at Eagles Nest Golf Course, north of Toronto, on June 8, 2... Read More

U.S. Corporate Taxes Too High?

June 8, 2011

As a follow-up to earlier posts, a couple of interesting items of interest yesterday.  The first is the Microsoft d... Read More

U.S. Corporate Profits Peaked?

June 1, 2011

I must admit that I am astounded at the performance of the U.S. equity market so far this year.  Talk about climbin... Read More

BNN Clip

May 27, 2011

Click here to watch a clip of my appearance on BNN's Market Wrap yesterday. Jim McGovern Read More

Bubbles Part II

May 27, 2011

Further to our blog post on May 19 regarding Bubbles, see graphic below. Jim McGovern  Read More

Happy Friday!

May 27, 2011

If you would like to support one peripheral European economy, please visit: P.J. O’Brien’s Irish Pub & ... Read More

The China Conundrum

May 24, 2011

It is certainly accepted wisdom that as goes China, so goes the world in terms of global growth and therefore by extensi... Read More

Bubbles

May 19, 2011

Boy am I glad we started our blog a few days ago – social media is just exploding in value.  Linkedin came public... Read More

Favourite Financial Blogs

May 17, 2011

Back in the office today after spending a rainy day in NYC yesterday.  Between meetings, I found myself surfing the... Read More

Commodities, by 360 Global PM Enrique Abeyta

May 16, 2011

There obviously has been a lot of discussion about commodities this past week and I thought the charts below were pretty... Read More

May 13, 2011

May 13, 2011

It is Friday the 13th so of course the market is going to do something nasty – at the time of this post it is down ove... Read More

May 11, 2011

May 11, 2011

We are all excited about sharing our thoughts on markets and the alternative investment industry through frequent posts ... Read More