Been digging into all the talk about windmill power in western Newfoundland this past week… big fan.

 

If the German Chancellor showing up in Stephenville, NL doesn’t speak to an energy crisis, I don’t know what does. While the world accelerates on the path to zero carbon energy, I simply cannot ignore the traditional energy sector.

 

We are strongly invested in natural gas and I’m keeping my eye on oil prices too. As we head into the autumn season, it’s apparent that the world is concerned about commodity shortages. Europeans, in particular, will be wearing extra layers as Russian gas may not flow. It’s hard to believe we can be looking at such situations in 2022, but here we are.

 

Even more troubling to me was the acknowledgement from French President Macron, who stated the “the end of excesses is approaching”. The world has been hit with numerous pandemic lockdowns and a major war between developed countries this past couple of years - both events that most assumed were impossible before they happened. Let’s not let the same complacency trickle into our portfolio. We remain ready to pivot no matter what narrative is tossed at us next.

 

The Tactical Growth Fund enjoyed a great week despite the big volatility. We made money while the Fund’s competitors followed the market indexes in a downward trend. It’s periods like these where being tactical matters the most.