Podcast
What to Own, Why to Own It, and When to Own It
Will Simpson and Greg Wise
August 15, 2026
How fundamentals, positioning and technicals work together to drive better investment thinking.
Markets were pretty mixed this week, with not a whole lot of movement at the index level. The TSX managed to grind another 0.8% higher and continues to sit around record highs, while the S&P 500, Nasdaq and Europe were all slightly lower in Canadian dollar terms. Under the surface, there was a bit more going on. Energy was easily the standout, up 6.9% in the U.S. and 3.6% in Canada.
The economic backdrop continues to give investors plenty to chew on. In the U.S., a run of softer data has taken some of the heat out of expectations for further Fed tightening. Payrolls were weak, inflation was fairly tame, and retail sales disappointed, leaving markets pricing much less in the way of rate hikes than they were just a couple of weeks ago.
Closer to home, Canada has quietly held up better than many would have expected. Growth appears to have improved, employment has been relatively resilient, and the CAD has strengthened, while the TSX continues to push higher. The next major test comes with the August 19 U.S. tariff deadline on Canadian exports. There are some signs that negotiations are progressing, but after plenty of false starts over the past year, markets will probably want to see an actual agreement before getting too excited.
Weeks like this are a good reminder that there is often more going on beneath the surface than the headlines suggest. That’s why we look at fundamentals, positioning, and technicals together to help us decide what to own, why to own it and when to own it.
As always, if you have any family or friends that we may be able to help, we are here as a resource. And if you have any questions, feel free to reach out anytime. We are here working for you.
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Best,