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Priddle & Sheppard Investment Group

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Scott Sheppard

July 17, 2023

Money Economy Weekly update
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Tactical Growth Mandate - Weekly Briefing

It's been hot...really hot. I've been reading that temperature records are being smashed all over the world. Not to be outdone, the NASDAQ stocks have been really hot too! Having lost about 30% in 2022, the index is up over 30% YTD. Many will point to the gains being attributed to only a few stocks, but investors' appetite to take on growthier-orientated technology stocks is definitely back.

Whether or not this proves to be the right strategy remains to be seen. By many metrics I follow, many of these stocks seem pretty overvalued to me. Nonetheless, investors are enjoying the short-term gains from their speculative bets. Much like those July temperatures, this scorching market won't last forever. I learned a long time ago to fix the roof when the sun is shining. 

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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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