Roberts Nash Advisory Group

A Good Time To Look At Your Goals

The tragedy of Hurricane Katrina is hard to believe.  In a world of such great communication, how did the warnings get so disregarded and leave so many people vulnerable to the ravages of Mother Nature?  Last year, it was sad to think of the people who were in the way of the Tsunami in South East Asia.  Many of these people had no opportunity to know what was happening.  In New Orleans, there was ample time to understand the potential consequences and yet many stayed behind only to lose their lives.  It is certainly a distressing time for America.

This time of the year always feels like a new year in some respects.  It is a time when students head back to school and we all have a chance to get more focused after a summer of outdoor activities.  Planning is usually a part of this process and September is a good time to look at your goals and to see how you are doing.

On a personal note, Anna-Marie and I are empty nesters for the first time.  I say “first time”, as I think about our door as a swivel door, and expect return visits from our accomplished young women as they find their way in life.  Ursula our youngest heads to University and it is a happy-sad week as we think of our children around the world.  It is certainly wonderful that they have wings and feel confident enough to seek opportunities in far away places.  However, we miss them and look forward to the regular emails and telephone calls and their safe return at some future date.  The ability to communicate in today’s world is incredible.  Amazingly, Natasha is in Florence, Italy; Ursula will be just south of London, England; Maddy and Alexandra are in Vancouver; and Dana is in South Korea.

 

 

Kelly's Comment:

The Toronto market continued its upward trek (much to my surprise) and posted over a 2.4% gain in August.  Naturally oil continues to dominate the headlines as prices touched over $70 a barrel near the end of the month.  With the foreign limit on registered accounts repealed and a market that is highly priced historically we have some concern of the ability of the market to hold at these levels. The continued strength in our currency is of concern for our manufacturing industries.  It is also interesting to note that in 2000 the high for the Toronto market was September 1st as Nortel was the toast of the town at over $120.  The high for the DJIA was in January and for the NASDAQ in March in 2000 as the excitement of Nortel pushed the Toronto Index higher later in the year.  This year it is a resource excitement that is keeping Toronto higher later in the year.  Although I am a big believer in the China/India story and the continuing demand for resources, markets do not move in one direction forever and this current uptrend will be corrected.  When that happens there will be some disappointed investors.

Looking at the equity markets south of the border, the rebuild after Katrina will help keep the economy going but the high price of oil will have a dampening effect over the next couple of quarters.  The markets have been choppy all year with no net progress and I still believe need a good shakeout before the end of October to set up the year end rally.

 

** I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of National Bank Financial Group. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by the Research Department of National Bank Financial **