Art Of Boring

In this episode we discuss the Canadian equity market with Mark Rutherford, co-manager of Mawer’s Canadian equity strategy. Mark highlights the key drivers behind Canadian equities' strong 2024 performance, highlighting standout sectors like technology, financials, energy midstream, and gold. He also examines challenges in telecommunications and real estate, discusses risks from slower economic growth, inflation, and higher mortgage rates, and emphasizes strategic portfolio adjustments. Key Takeaways: Canadian equities excelled in 2024, driven by strong performance in technology, financials, energy midstream, and gold companies. Elevated valuations now prompt focus on sustainable growth and identifying new opportunities. In 2024, banks benefited from moderated loan growth, margin expansion, cost controls, and strong wealth management and capital markets earnings. Canadian insurance companies transitioned to stable earnings through improved product mixes, rational competition, and capital efficiency. Industr