Skip to main content

A Brief History of the North American Stock Exchanges

As I mentioned in my November 28, 2025 Weekly Update [link to Nov 28 update], I recently came across a stock I assumed was listed on Canada’s largest and most senior stock market, the Toronto Stock Exchange (TSE), only to discover it was actually trading on its junior counterpart, the TSX Venture Exchange. That small mix-up sent me down a rabbit hole into how Canada’s exchanges are structured and how they came to be.

Weekly Update for the week ending October 18, 2024

Index Funds vs. Individual Stocks: Which Strategy is Best for New Investors

When you are new to investing, the sheer number of stocks listed on various exchanges can feel overwhelming. Starting with an index fund might offer a smoother entry into the world of investing. However, deciding between index funds and individual stocks can be daunting. Both have their pros and cons, and finding the right fit depends on your financial goals and risk tolerance. So, which strategy is best for you? Let us take a quick look at the strengths and weaknesses of each.

Weekly Update for the week ending October 11, 2024

Last week, I touched on why October has a bit of a reputation as a volatile month in the markets—historical crashes, rapid recoveries, and plenty of unpredictability. So, what should you expect for your portfolio this October? Let us take a look.

First off, volatility does not necessarily mean disaster. In fact, it can create opportunities, especially for long-term investors. If you see sharp drops in certain stocks or sectors, it could be a chance to add to your positions or get into new ones at discounted prices. But timing the market is tricky—so keep your long-term goals in mind (you have set some long-term goals, right?) rather than reacting emotionally to short-term swings.

Weekly Update for the week ending October 4, 2024

October: A Month of Market Mayhem or Opportunities?

September may be notorious for its volatility, but October is when the real drama unfolds in the markets. October has witnessed some of the stock market’s most jaw-dropping crashes, earning its reputation for volatility. One of the earliest examples was the Panic of 1907, which peaked in October, wiping out about 50% of the market’s value due to a banking crisis sparked by failed speculation. Then there’s Black Tuesday, October 29, 1929, a date forever linked to the crash that ushered in the Great Depression. Preceded by Black Thursday (October 24) and Black Monday (October 28), this period erased massive wealth and sent shockwaves across the global economy. Fast forward to October 19, 1987—Black Monday—when the Dow Jones nosedived 22.6% in a single day, the largest one-day percentage drop in US history. Fueled by program trading, overvalued stocks, and low liquidity, this crash triggered investor panic.

However, October is also known for remarkable recoveries. After the 1987 crash, the markets began to recover within months, regaining most losses by year-end. Similarly, October 2002 signaled the bottom of the bear market that followed the dot-com bubble burst, paving the way for a bull run that lasted until October 2007, during which the S&P 500 more than doubled, driven by economic recovery, low interest rates, and strong corporate earnings. While October is notorious for downturns, it also marks key turning points toward recovery.

Weekly Update for the week ending September 27, 2024

As I mentioned earlier this month [link to Sept 6], September usually gets a bad rap as one of the toughest months for stocks. But this year? It has been a pleasant surprise! Thanks to anticipation around the US Federal Reserve’s (Fed) first rate cut since the COVID-19 pandemic began in March 2020, the market’s mood shifted. Add in the Bank of Canada’s (BoC) third rate cut in three months, and it has been a win for Canadian investors too. It seems like both central banks feel they are finally winning the inflation battle—if it is not already won.