'Twas the week before Christmas...

December 20, 2017 | Mawer Print

‘Twas the week before Christmas
And we’re again filled with cheer
To provide our blog readers
A review of the year:

There’s been some big changes
Since Donald’s election
It probably merits
Some deep introspection

While many lamented
His election as dire
Globally, rates
Have clearly moved higher

Here in Canada
Measures were taken
To allay housing costs
Thus saving our bacon

For if rates rise fast,
And these measures failed
A downturn in housing
Would leave us assailed

In many countries
Were promises made
By politicians
On tax and on trade

Take “conscious uncoupling”
—by this we mean Brexit—
Article 50 means it’s
Two years to exit

During this time,
How “May” things go?
We hope not too hard
But we still just don’t know

And North America
Has still yet to see
What NAFTA will look like
Just how it will be?

The U.S.’s new tax bill
With significant cuts
May soon become law
No if, ands, or buts

And then there is China's
Economic transition
We do not envy
Their leaders’ position

For the main question
We all want to know:
If you clean up your banks
Can you still grow?

And now let’s talk Bitcoin
For all its elation
No, it’s not “value”
It’s just speculation!

It’s a big part
Of this whole equation
In which we see broadly
Steep valuation

All of this happened
With stock markets winning
Another year up?
But remember: “late inning”

Equities could just
Keep rising next year
But they could easily tumble
That much is clear.

But since most investment goals
Are long term in type
Keep your eyes on the horizon
And beware of the hype

A resilient portfolio
Will weather most storms
From markets correcting
The bubbles that form

So as 2017
Draws to a close
What’s in store for next year?
No one really knows

But this we can say
With all of our might,
Merry Christmas to all,
And to all a good night!


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