Discovery

• CIBC Wood Gundy has access to one of the largest research offerings, including CIBC Wholesale Banking and top-ranked third party firms such as JP Morgan, Credit Suisse and Value Line. In addition, CIBC Wood Gundy's Investment Strategy Group (ISG) is an independent in-house team of CFA-accredited specialists. CIBC's Analysts and Economists comprise one of the largest and most esteemed groups of any investment firm.
• Have paid subscriptions to third party research and publications: A Swiss publication, The Manual of Ideas; Value Investor Insight; Morningstar Stock Investor; and Bloomberg Businessweek.
• Scrutinize insider buying & selling and spinoffs.
• Analyze quarterly hedge fund and super investor disclosures.

Evaluation and Due Diligence

For Investments

• Do we understand the business?
• Is management well regarded?
• What is the competition?
• What are the industry trends?
• Is the company's credit rating investment grade?
• Review historical valuations.
• Are we paying a fair price?
• What is the current macroeconomic environment?

Portfolio Construction

• Assess risk tolerance & time horizon and invest according to Investment Policy Statement.

Monitoring and Updating

• Monitor positions that our clients own by listening to quarterly calls, industry conference calls, and reading analyst reports.
• Keep a watch List of companies (currently 110 companies), that we would like to own at the right price.