Hemisphere Capital Management Inc.

Navigating The Financial Markets.

Newsletters

American Exceptionalism

December 2024 Last month, a massive $140 billion flowed into US equity funds as investors embraced the re-election of Donald Trump.  This “Trump trade” was driven by investor expectations that the new Trump administration will unleash sweeping tax cuts, deregulation and aggressive fiscal policies that will generate a further boon to corporate

Read More »

Intel and Reshoring

The Russian invasion of Ukraine in February 2022 essentially marked the end of a thirty-year peace dividend.  During this relatively stable geopolitical period, major conflicts were regional (Afghanistan, Iraq, Libya, Syria) and “contained”, trade friction was subdued and supply chains were well established (other than during COVID).  The world experienced above average

Read More »

Gold and Geopolitics

2024 has seen a sizeable jump in the price of gold.  After trending in the $USD 1,800 to 2,000 range for the past three years, the price of gold has increased 20% year to date. Historically, the price of gold has been a rough hedge against inflation.  Recent post-covid inflation has been

Read More »

The Way We Were

2022 was a very difficult year for the global financial markets.  Both North American stock and bond markets suffered double-digit negative returns.  As measured by the Nasdaq Index, technology stocks fared the worst, ending the year down over 30%.  In Canada, the average return for a Canadian balanced fund was a loss

Read More »

The Looming European Natural Gas Crisis

The Russian invasion of Ukraine has amplified energy security concerns, particularly in European Union (EU) nations. The EU has historically relied on Russia for over 40% of their natural gas consumption. With Russia restricting natural gas flows to the EU, the EU has been forced to look elsewhere for alternative supplies. Securing

Read More »

The Dollar Safe Haven

The recent strength of the U.S. dollar highlights the extraordinary flight-to-safety of international investors following Russia’s invasion of Ukraine in February 2022. Since the invasion, the euro has declined 11% – a 20-year low. The British pound has fallen 14% – an astounding 37-year low. The Japanese yen, another major currency, has

Read More »

Recent Posts