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Priddle & Sheppard Investment Group

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Scott Sheppard

February 27, 2023

Money Financial literacy Weekly update Weekly commentary
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Tactical Growth Mandate - Weekly Briefing

The Berkshire Hathaway letter to shareholders was released this weekend. As usual, it was jam-packed with great advice and brilliance displayed by simplicity in process. I encourage you to read it, should you have the time.

 

The transparency of the Berkshire Hathaway performance reporting, and clarity of their presentation is the gold standard for annual reporting and responsibility to shareholders. Page number one of the report is a simple table showing the performance of Berkshire Hathaway shares versus the S&P500 since 1965. They didn’t nail it every year, but it tells the story of proper process paying off over the long term. A great deal of what I am trying to produce on a weekly basis with the Tactical Growth mandate has been inspired by the decades of work of Warren Buffett and Charlie Munger.

 

Some of the best words of wisdom in this year's newsletter came from Charlie Munger, in reference to ownership in stocks. He stated, "don’t bail away in a sinking boat if you can swim to one that is seaworthy". On a daily basis, my job is to abandon ship on the stocks that are sinking and keep sailing on to those stocks that are proving seaworthy. From a portfolio perspective, the Tactical Growth is as seaworthy of a vessel as one will find.

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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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