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5i Research Blog

Apr 28, 2017 5 from 5i - Chasing a Small Pool of Big Winners

By Michael

It has been a big week for political news. In France, Emmanuel Macron's victory in the vote led to an early, huge relief rally across markets. Marine Le Pen also made it through to the second round runoff scheduled for May 7. The Trump administration unveiled a tax revamp proposal that would reduce the top corporate tax rate from 35 per cent to 15 per cent. While only one page in length, if the Trump proposals are enacted it would eliminate the current Canadian tax advantage — roughly four percentage points after including factors such as federal and provincial tax rates — over the United States. Shares of Home Capital Group (HCG) plunged roughly 65% Wednesday after it agreed to a major credit line. The alternative lender said it would secure a $2B loan facility to shore up its shrinking balance sheet. Costs from closing the deal to buy Manitoba Telecom Services dampened BCE’s (BCE) bottom line in the first stretch of the year, but the results hit analysts’ expectations when excluding the acquisition costs. Shares of CRH Medical (CRH) continued to trade lower after the circulation of a short seller's report (dated April 13) by AYAL Capital Advisors. Here are five stories we found interesting this week:

  1. How today's market valuation compares to the tech bubble
  2. Why you cannot outperform your index
  3. Dividend growth stocks receive some criticism 
  4. Financial and investment goals for various age groups (4 article links)
  5. Adding context to the CAPE ratio of 30x

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