Who Moved My Cheese?

My first position in the financial industry was with a Canadian banking institution that was going thru a merger. At the time, there was a lot of worry about how things would change for both companies. I remember that management at the time gave every employee a book about change, titled “Who Moved My Cheese.” For someone just entering the world of finance, and the work world in general, it was a great read. The main lesson was that the world is always changing, and those that don’t learn to be adaptable will get left in the dust. On that note, please enjoy a big change to our newsletter and a new format.

 

  Market Review: Winter Recap & Spring Outlook

The start of 2026 has brought some change to equity markets. After a strong finish to 2025, volatility has returned. One thing that is always a certainty in our world is that change is inevitable, but also can be unpredictable. The world is moving quickly, and we are working to be ahead of the game. Over the past few weeks, some of the volatility that we have witnessed has been from companies that have risen 100% and more in the past few years and in many ways a correction was overdue. More importantly, we think we are finally seeing another change: breadth expansion. The US Economy has surprised many with its strength, and with it, we have seen many names in consumer and business cyclicals strengthen. While there’s considerable debate as to not only why this is happening, but also how long it lasts, it’s clear that it’s happening. At the same time, we continue to look to position some money outside of North America as the world continues to work to forge new trade routes. I firmly believe this will be a long-run outcome of the new tariff-heavy environment.

 

  Theme Spotlight: Data & Energy

If you’ve been following along, you know that we are big believers in the demand for energy needed to fuel “Big Data.” The insatiable demand for the power to compute is growing much faster than the growth in supply. This is a perfect storm for higher energy costs/prices, which will eventually lead to more resources being devoted to compute “efficiency.” For now, we are seeing higher energy prices and are investing accordingly. More and more, we are seeing that this is the ‘bottleneck’ for big data.

 

  What Are We Reading? The Psychology of Money by Morgan Housel

This insightful book by one of my favourite authors explores how our attitudes, beliefs, and behaviors shape financial outcomes—often more than knowledge or skill. Knowing how important planning is to many of you makes this a must-read for anyone interested in the human side of investing and wealth. Maybe more importantly, it provides a deeper understanding of what motivates our saving and spending habits, in both positive and negative ways.

 

  Tax Planning: 2026 Deadlines and Strategies

Tax season is upon us. Remember, the RRSP contribution deadline is March 1st and the personal tax filing deadline is April 30th. As always, consider the time value of money when making tax decisions. While accelerating income can sometimes reduce estate taxes, it’s important to weigh the cost of your lost investment opportunity. At the same time, too much income can also reduce the entitlements that some of you receive, in particular, OAS. Consult your tax advisor for strategies tailored to your situation.

 

  Upcoming Events

Hockey Helps The Homeless Friday, February 27, 2026 Peggy Hill Center, Barrie #HHTHBarrie

For over 10 years, CIBC Wood Gundy Barrie, with the help of our Miracle Day Program, had been a proud supporter of Hockey Helps The Homeless. This one day tournament brings together pro's and non-pros to help raise both money and awareness for local homelessness. The best part is that all funds raised stay local, helping charities such as Redwood Community Shelter and The David Busby Center.

For more information, please reach out...even if you just want to come out and watch a game!

 

  Tips & Tricks from the Admins

Along with longer days and warmer weather comes the dreaded Canadian tax season. With the help of Wood Gundy Online, you are now able to print off your tax forms as soon as they are available. Please let us know if we can help show you how it's done. Spring also brings Daylight Savings Time. Don't forget to move your clocks ahead one hour on Sunday, March 8. 

Angela, Helen and Gigi

 

  The Closing Bell…

As we head further into 2026, there are many things that could prove to be market movers. We’ve said it before, but midterm elections could provide a calming influence south of the border, and may just help nail down some trade deals for us north of the 49th. At the same time, we continue to think that breadth expansion will continue to be a strong theme. It's certainly not to say that past leadership will not continue to be strong, but as I've remarked to many of you, most of these tech companies don't make things like backhoes, HVAC, or copper wire. Either way, the days are already getting longer and after what felt like two months of non-stop snow, the sun has returned, and that can only mean one thing—it’s tax season!

 

 

"The quickest way to double your money is to fold it over and put it back in your pocket."

— Will Rogers