WEALTH Matters — WINTER 2009

Investment Market Commentary

2009 began with widespread fear about the safety of our money and the banking system, and ended as one of the strongest stock market performances in recent memory. This sort of a sharp rebound is typical as investor panic is replaced by a more balanced outlook as the economy finds a new balance.



Page and Associates ltd:

Phone:    905-884-5563

Fax:         905-884-3365

E-mail:     experience@askpage.com

E-mail this page to a friend

Click here to send your friend or friends a link to this newsletter. Otherwise they’ll have to subscribe for themselves, or wait 3 months to see it in our back issues.

New issues of our quarterly newsletter are only available by subscription. As a subscriber, you have our permission to pass a copy of the current issue or web links to family and friends.

After three months, we add the most recent issue to our online catalog of back-issues, reproduced in the Newsletters section of this website.

Here are the articles in the current edition. Just click the article names to view each one.

RRSP TFSA and your Personal Assessment

Investment Market Commentary

Economic Outlook and Interest Rates

Important Dates For Tax Planning

Mutual Funds and Segregated funds provided by Fund Companies offered through

Worldsource Financial Management Inc. sponsoring mutual fund dealer.

All other services provided by Page and Associates Ltd.



Financial Strategies

Our Team

Our Service

About Us


Resources on financial planning and investment management, including today's best GIC rates, access to your account online, links to a variety of web-based resources.Subscribe to our financial planning newsletter, or read articles from past issues.Read about a variety of financial planning and investment management strategies.Meet the members of the Page and Associates financial planning and investment management team.Find out how Page and Associates can help you plan your financial future.An overview of Page and Associates' history.Home page of the Page and Associates website.

Investors who stuck to their long-term strategic asset allocation were rewarded for their patience with a sharp rebound. Those who abandoned their allocation at the bottom locked in their losses and missed the opportunity to catch the rebound. That’s not to say that those who stayed the course are better off than they would have been had they sold at the top, although very few would have been able to determine where the top was until after the sharp drop occurred.

Staying the course with a strategic asset allocation means investors will experience some periods in which a measured rate of return is negative, but over the long term these periods average themselves out, and equities typically outperform bonds and GICs over longer measurement periods.

We’ll likely see continued slow growth as the recovery takes hold. For more information see our article on Economic Outlook (link below).

The past couple of years have seen the highest levels of volatility in stock markets in many years, and the first time in 20 years that a 10-year holding period has shown a negative return (when measured to the market low point).

By the end of 2009 the TSX index had recovered more than half its 2008 losses, and even the Dow Jones Industrial Average index had returned to a positive 5-year return, although barely.

With foreign assets, the rise of the Canadian Dollar vs the US dollar has depressed returns in C$ terms.

My Account | Testimonials | Contact Us | Legal