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Priddle & Sheppard Investment Group

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Address 4 Herald Avenue Suite 505 Corner Brook NL, A2H 4B4
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Scott Sheppard

January 31, 2022

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Tactical Growth Mandate - Weekly Briefing

Going into the last trading day of January, Barron’s is reporting that stocks are having their worst January since 2008. In many cases, last year’s winners are this year’s losers - just take a look at the stocks of Netflix, Peloton, or Zoom for some examples of what I’m talking about.

 

It was looking pretty grim earlier this week; at one point we were off to our worst start to a year ever. As I alluded to in last week’s briefing, a short term relief rally was to be expected after such a sharp selloff. We did get that very late in the week (4:00pm on Friday to be precise) and the market finished the week in a positive territory.

 

We are into earnings season and it’s going to heat up with some big companies reporting this week. With markets already experiencing wild daily swings, this reporting season likely won’t be for the faint of heart. The portfolio remains defensive, with very few stock positions being held for momentum trades. We remain positioned for inflation and owning real tangible assets. We’re also holding cold hard CASH.

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CIBC Private Wealth” consists of services provided by CIBC and certain of its subsidiaries through CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (“CAM”); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (“WMI”). CIBC Private Banking provides solutions from CIBC Investor Services Inc. (“ISI”), CAM and credit products. CIBC Private Wealth services are available to qualified individuals. Insurance services are only available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are only available through CIBC Wood Gundy Financial Services (Quebec) Inc.


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