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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

May 02, 2022

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Tactical Growth Mandate - Weekly Briefing

It’s been a great week here in The Bahamas. Great weather, resort, and food. To my surprise is wasn’t the best spot I could have chosen to tune out the noise of Wall Street. The first annual “Crypto Bahamas” conference was hosted here and it was star-studded, and not just from my financial perspective. The attendees featured many of the great minds in blockchain technology and investment management that I follow and subscribe to their services. Key note speakers also included Bill Clinton, Tony Blair, and Tom Brady. This was essentially my equivalent of the Oscars – without the face slap, of course.

 

From my deckchair on Saturday, I also tuned into Warren Buffett’s annual shareholder meeting. In a world where media and opinions are more common than the grains of sand on the beach, it’s nice to sit and listen to the original voice of reason. My favorite part was when Mr. Buffett slammed Wall Street for turning the stock market into “a gambling parlor”.

 

The Tactical Growth mandate exists to help you navigate the noise, be different than the crowd, and achieve stronger results. Mr. Buffet is living proof that not mimicking the big institutions of Wall Street can lead to outperforming them. The investment management industry has become very different in recent years. For the do-it-yourself investor, discount brokerages in the U.S.A. allow you to trade for free, but do so by selling your orders to hedge funds who control the price on you. For the passive investor, you usually end up owning a well-marketed portfolio that acts just like every other institution’s, meaning that you can’t beat the market, because you end up owning a part of the whole market.

 

Consider my simple weekly chart of competitor performance below. We are starting to see some trends emerge after just 4 months of tracking. Firstly, on a year-to-date basis, the Vanguard All-Equity Portfolio, VEQT (which you can buy on-your-own for a cost of 0.24%) is performing as-good-or-better than the managed-portfolio solutions of the biggest Canadian Banks. VEQT is composed entirely of low cost index-ETFs. Secondly, you’ll also notice that the returns of the different bank-portfolios mimic each other extremely closely.

 

Clients are going to have difficult conversation with their advisors about strategy and fees as the stock markets are now well off their highs. On my end, I hope to continue to offer full transparency in what I’m doing – besides suntanning – and keep delivering strong returns year-over-year.

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<p>CIBC Private Wealth consists of services provided by CIBC and certain of its subsidiaries: CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (&ldquo;CAM&rdquo;); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (&ldquo;WMI&rdquo;). CIBC Private Banking provides solutions from CIBC Investor Services Inc.(&ldquo;ISI&rdquo;), CAM and credit products. CIBC World Markets Inc. and ISI are both Members of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. CIBC Private Wealth services are available to qualified individuals. The CIBC logo and &ldquo;CIBC Private Wealth&rdquo; are trademarks of CIBC, used under license.</p> <p>&nbsp;</p> <p>Scott Sheppard is an Investment Advisor with CIBC Wood Gundy in Corner Brook, NL. He and his clients may own securities mentioned in this column. The views of Scott Sheppard do not necessarily reflect those of CIBC World Markets Inc</p> <p>There are ongoing fees and expenses associated with owning shares of an Exchange-Traded Fund (ETF). An ETF must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the attached hyperlinks associated with the tickers; The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends or distributions and does not take into account income taxes payable by any securityholder that would have reduced returns. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell shares of the Exchange Traded Fund (ETF) on the TSX, NYSE, NASDAQ or other market on which the securities of the ETF are listed or quoted. If the shares are purchased or sold on TSX, NYSE, NASDAQ or other, investors may pay more than the current net asset value when buying shares of the ETF and may receive less than the current net asset value when selling them.</p> <p>&nbsp;</p> <p>The index benchmarks referenced are not guaranteed, their values change frequently and past performance may not be repeated.</p> <p>&nbsp;</p> <p>This report is not an official record. The information contained in this report is to assist you in managing your investment portfolio recordkeeping and cannot be guaranteed as accurate for income tax purposes. In the event of a discrepancy between this report and your client statement or tax slips, the client statement or tax slip should be considered the official record of your account(s). Please consult your tax advisor for further information. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. Some positions may be held at other institutions not covered by the Canadian Investor Protection Fund (CIPF). Refer to your official statements to determine which positions are eligible for CIPF protection or held in segregation. Calculations/projections are based on a number of assumptions; actual results may differ. Yields/rates are as of the date of this report unless otherwise noted. Benchmark totals on performance reports do not include dividend values unless the benchmark is a Total Return Index, denoted with a reference to &#39;TR&#39; or &#39;Total Return&#39;. CIBC Wood Gundy is a division of CIBC World Markets Inc., a subsidiary of CIBC.</p> <p>&nbsp;</p> <p>Clients are advised to seek advice regarding their particular circumstances from their personal tax and legal advisors.</p> <p>&nbsp;</p> <p>CIBC Private Wealth Management consists of services provided by CIBC and certain of its subsidiaries, including CIBC Wood Gundy, a division of CIBC World Markets Inc.<br /> <br /> This information, including any opinion, is based on various sources believed to be reliable, but its accuracy cannot be guaranteed and is subject to change. CIBC and CIBC World Markets Inc., their affiliates, directors, officers and employees may buy, sell, or hold a position in securities of a company mentioned herein, its affiliates or subsidiaries, and may also perform financial advisory services, investment banking or other services for, or have lending or other credit relationships with the same. CIBC World Markets Inc. and its representatives will receive sales commissions and/or a spread between bid and ask prices if you purchase, sell or hold the securities referred to above. &copy; CIBC World Markets Inc. 2022.</p> <p>&nbsp;</p> <p>If you are currently a CIBC Wood Gundy client, please contact your Investment Advisor.</p>
 

CIBC Private Wealth consists of services provided by CIBC and certain of its subsidiaries: 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 World Markets Inc. and ISI are both Members of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. CIBC Private Wealth services are available to qualified individuals. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license.

 

Scott Sheppard is an Investment Advisor with CIBC Wood Gundy in Corner Brook, NL. He and his clients may own securities mentioned in this column. The views of Scott Sheppard do not necessarily reflect those of CIBC World Markets Inc

There are ongoing fees and expenses associated with owning shares of an Exchange-Traded Fund (ETF). An ETF must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the attached hyperlinks associated with the tickers; The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends or distributions and does not take into account income taxes payable by any securityholder that would have reduced returns. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell shares of the Exchange Traded Fund (ETF) on the TSX, NYSE, NASDAQ or other market on which the securities of the ETF are listed or quoted. If the shares are purchased or sold on TSX, NYSE, NASDAQ or other, investors may pay more than the current net asset value when buying shares of the ETF and may receive less than the current net asset value when selling them.

 

The index benchmarks referenced are not guaranteed, their values change frequently and past performance may not be repeated.

 

This report is not an official record. The information contained in this report is to assist you in managing your investment portfolio recordkeeping and cannot be guaranteed as accurate for income tax purposes. In the event of a discrepancy between this report and your client statement or tax slips, the client statement or tax slip should be considered the official record of your account(s). Please consult your tax advisor for further information. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. Some positions may be held at other institutions not covered by the Canadian Investor Protection Fund (CIPF). Refer to your official statements to determine which positions are eligible for CIPF protection or held in segregation. Calculations/projections are based on a number of assumptions; actual results may differ. Yields/rates are as of the date of this report unless otherwise noted. Benchmark totals on performance reports do not include dividend values unless the benchmark is a Total Return Index, denoted with a reference to 'TR' or 'Total Return'. CIBC Wood Gundy is a division of CIBC World Markets Inc., a subsidiary of CIBC.

 

Clients are advised to seek advice regarding their particular circumstances from their personal tax and legal advisors.

 

CIBC Private Wealth Management consists of services provided by CIBC and certain of its subsidiaries, including CIBC Wood Gundy, a division of CIBC World Markets Inc.

This information, including any opinion, is based on various sources believed to be reliable, but its accuracy cannot be guaranteed and is subject to change. CIBC and CIBC World Markets Inc., their affiliates, directors, officers and employees may buy, sell, or hold a position in securities of a company mentioned herein, its affiliates or subsidiaries, and may also perform financial advisory services, investment banking or other services for, or have lending or other credit relationships with the same. CIBC World Markets Inc. and its representatives will receive sales commissions and/or a spread between bid and ask prices if you purchase, sell or hold the securities referred to above. © CIBC World Markets Inc. 2022.

 

If you are currently a CIBC Wood Gundy client, please contact your Investment Advisor.

 
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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.


CIBC Private Wealth services are available to qualified individuals. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license.