How Global Events Affect Your Portfolio: A Beginner’s Guide
If you are new to investing, you might assume your portfolio – especially if it is packed with Canadian or American stocks—is safely tucked away from global drama. But the truth is, events like geopolitical tensions or economic slowdowns often send ripples through the markets, and your investments can feel the effects. Let us take a look into how these international factors influence your portfolio and how you can navigate them.
Global Economy: A Big, Connected Web
Even local companies rely on global markets and supply chains, which means major events overseas can quickly cause shockwaves at home. Think trade disputes, conflicts, or an economic slowdown in a major region – any of these can shake up stock prices, even if they are thousands of miles away. Remember 2020? During the height of the COVID-19 pandemic, global supply chain disruptions led to shortages across industries and around the world, highlighting just how interconnected the world economy is.
Geopolitical Tensions: Markets and Uncertainty
Markets hate uncertainty (and honestly, who does not? 😊). When geopolitical tensions arise – like conflicts, trade wars, or political instability—they can disrupt supply chains, drive up costs, and make investors uneasy. Oil prices, for instance, often spike during conflicts in oil-producing regions, hitting energy stocks and rippling through the broader economy. We have seen this repeatedly, from the Middle East to the Ukraine–Russia war.
Global Economic Developments
The world’s economic heavyweights—like the USA, China, and the European Union—drive global growth, while emerging markets influence demand and shape investment opportunities. When these economies slow down, demand for exports like oil or metals often takes a hit. For example, sluggish demand from China has dragged down the prices of oil and other commodities, impacting industries reliant on international trade.
Currency Fluctuations
Global events can make currencies swing. If the Canadian dollar weakens against the American dollar, as it has recently, your US investments might look better in CAD terms. But if the loonie strengthens, your foreign holdings might lose some shine.
Safe-Haven Assets: When Investors Play It Safe
During global crises, investors often flock to “safe havens” like gold or US government bonds. We saw this recently when gold prices climbed following increased missile attacks in the Ukraine – Russia conflict. While this shift can temporarily dip the stock market, such moments often create opportunities for long-term investors to scoop up quality stocks at a discount.
How to Stay Calm and Invest On
When global events shake up the markets, here is how to keep your cool and make smart moves:
- Diversify Your Portfolio: Spread your investments across sectors, asset classes, and regions to manage risk effectively.
- Keep Tabs on Global Trends: Stay aware of economic developments in major markets like the USA, China, or the European Union, especially if your portfolio includes export-heavy industries.
- Mind Currency Swings: Remember, currency fluctuations can impact your returns when investing abroad. Currency-hedged funds can help offset substantial changes.
- Know Your Exposure: Sectors like energy, technology, and consumer goods often feel the brunt of global tensions. Understand how these might impact your holdings.
- Embrace Dips as Opportunities: Short-term market drops caused by global events can be a chance to buy quality stocks at bargain prices.
- Stick to Your Strategy: Do not let headlines derail your long-term goals. Investing success is built on patience and staying the course.
Conclusion
Global events might shake the markets, but they do not let them rattle your confidence. With a diversified portfolio, a clear strategy, and a focus on the long term, you can weather any storm the world throws your way. Remember, the sun still shines after the storm has passed—stay focused on your long-term goals, and brighter days will follow.
Now that we have covered the bigger picture, let’s take a closer look at what unfolded in the North American markets this past week
Items that may only interest or educate me ….
Canadian Economic news, US Economic news, Tariffs, ….
Canadian Economic news
This past week’s key economic data that the Bank of Canada (BoC) considers when deciding whether to raise or lower the interest rate.
Gross Domestic Product (GDP)
Canada’s economy hit a soft patch in September, with GDP inching up just 0.1% after a flat August. Analysts had hoped for a 0.3% gain, making the weaker result a letdown. Over the past year, GDP grew 1.6%, reflecting a broader slowdown in momentum.
The details tell a mixed story. ‘Goods-producing industries’ shrank 0.3% in September, weighed down by a 1.4% drop in ‘Mining, quarrying, and oil and gas extraction,’ though ‘Construction’ saw a modest 0.4% gain. Meanwhile, ‘Services-producing industries’ edged up 0.2%, helped by a 0.5% boost in ‘Retail trade,’ but ‘Management of companies and enterprises’ plunged 2.7%.
Year-over-year, the divide persists. While ‘Goods-producing industries’ barely gained 0.1%, led by an 8.8% jump in ‘Agriculture,’ ‘Manufacturing’ contracted 4%. In contrast, ‘Services-producing industries’ rose 2.1%, driven by a 3.8% climb in ‘Finance and insurance.’ However, ‘Management of companies and enterprises’ continued its descent, falling 32.5%.
Quarterly GDP grew at an annualized 1% in third quarter, meeting expectations but trailing the BoC’s 1.5% forecast. This marked a slowdown from the second quarter’s 2.2% pace. Early October estimates suggest sluggish growth continues, with another 0.1% gain on the horizon.
These figures pose challenges for the BoC, as GDP per capita fell for a sixth straight quarter, down 0.4%. Speculation is mounting over a December 11 rate cut, with analysts split between a 0.25% or 0.5% reduction. A deeper cut could weaken the loonie further, raising the cost of American imports – a headache for Canadian consumers already feeling the pinch. 😊
Looking ahead, the October GDP report will be released on December 23, 2024, and fourth quarter data will be released on February 28, 2025. Whether Canada regains momentum in 2025 remains to be seen, but it is shaping up to be a pivotal year for the economy.
Canadian market volatility
Canada’s Volatility Index (CVIX) started the week at 10.72 and held steady for the most part, reflecting a calm market environment. Thursday morning saw a brief dip to 9.8, hinting at a momentary surge in confidence due to the prospects of lower rates in Canada and the US. However, the CVIX quickly rebounded to its usual mid-10 range, finishing the week at 11.07, highlighting the week’s overall stability in Canadian markets.
Tracked under the ticker VIXI on the Toronto Stock Exchange (TSE), the CVIX gauges how much market volatility investors expect. A reading below 10 points to a calm, stable market, while numbers between 10 and 20 signal typical market fluctuations with moderate volatility. But when the index climbs above 20, it is a sign of rising uncertainty and the potential for a bumpy ride ahead.
US Economic news
This past week’s key data points that the Federal Reserve (Fed) considers when deciding whether to raise or lower the interest rate.
Federal Open Market Committee minutes
The Fed’s Federal Open Market Committee (FOMC) met on November 6-7, 2024, grappling with a familiar dilemma: robust economic growth alongside persistent inflation. Newly released minutes provide insights into their decision-making and outlook.
Globally, economic growth improved in third quarter, and inflation eased, prompting central banks, including the Bank of Canada, to lower rates. These trends likely influenced the Fed, highlighting global interdependence.
Domestically, the American economy showed resilience. GDP maintained robust growth in 2024, job gains slowed slightly, and inflation cooled from last year’s highs but remained above target. Markets reflected confidence in the Fed’s trajectory, with volatility subsiding despite geopolitical tensions and the presidential election.
Fed officials cited strong consumer spending and a tight labour market as economic strengths but acknowledged inflation’s persistence, revising forecasts slightly higher. While most expect continued progress towards the 2% goal, some warned of slower-than-expected improvements.
At the end of the meetings, the Fed cut its benchmark rate by 0.25%, to 4.50% – 4.75%, aiming to support growth while fighting inflation. Members were divided on next steps, balancing cautious optimism with concerns about inflation and potential economic weakness.
Looking forward, the Fed’s next moves depend on data, including job growth and inflation. Officials have hinted that current rates may already be appropriate. The final 2024 meeting on December 17-18 will be closely watched, with a 0.25% rate cut expected – barring surprises from upcoming inflation reports.
Personal Consumption Expenditures (PCE)
The PCE Price Index, the Fed’s preferred measure of inflation, rose to an annual pace of 2.6% in October, surpassing analysts’ expectations of 2.3% and increasing from September’s upwardly revised 2.4%. On a monthly basis, the index gained 0.2%, matching both September’s rise and analysts’ forecasts.
Core PCE, which excludes volatile food and energy costs, matched expectations, increasing 0.3% month-over-month, consistent with September’s pace. Annually, however, core inflation rose to 3.2%—up from September’s 2.7% and above predictions of 2.8%.
The economy showed strength in October, buoyed by robust consumer spending, but inflation presents a mixed picture. Monthly inflation has held steady since August at 0.2% for headline PCE (also known as all items PCE) and 0.3% for core PCE, but the annual increases suggest inflationary pressures may be lingering. This has led some analysts and Fed officials to question whether inflation’s downward momentum has stalled.
Despite these concerns, most analysts expect the Fed to cut rates by 0.25% at its December meeting, barring any surprises in the November Consumer Price Index data. However, the higher-than-expected annual readings could limit the Fed’s flexibility in further reducing the benchmark rate.
The PCE’s significance lies in its comprehensive approach to measuring inflation. Unlike other metrics, it considers both out-of-pocket spending and indirect costs covered by third parties, making it a critical tool for the Fed’s decision-making.
Gross Domestic Product (GDP)
The Commerce Department’s Bureau of Economic Analysis (BEA) has released its second estimate for third-quarter GDP, confirming that the US economy grew at an annualized rate of 2.8%. This matches the initial estimate and is slightly below the second quarter’s 3.0% growth. Key drivers of this expansion include consumer spending, exports, and federal government spending.
There were a few revisions in the details: exports and consumer spending were adjusted downward, while private inventory investment and non-residential fixed investment saw upward revisions. If you are wondering how consumer spending could increase overall while being revised downward—good question!
Here is the deal: GDP estimates start with preliminary data and are refined as more comprehensive information comes in. The initial estimate might show a certain growth rate for consumer spending, but by the second estimate, this rate can be fine-tuned. In this case, consumer spending still grew, just at a slightly slower pace than originally estimated.
Overall, the economy continues to grow, though at a more measured pace compared to the second quarter. Paired with robust consumer spending highlighted in the October PCE report, the data points to a resilient US economy in October and sets an optimistic tone for the remainder of the fourth quarter.
Consumer Confidence Index (CCI)
The Conference Board’s Consumer Confidence Index (CCI) climbed to 111.7 in November, topping expectations of 111.3 and up from October’s 109.6. This marks the second straight month of rising confidence—a promising sign for the economy.
Breaking it down, the Present Situation Index surged to 140.9, highlighting stronger sentiment about current business and labour market conditions. Meanwhile, the Expectations Index rose to 92.3, comfortably above the recession-warning threshold of 80, reflecting optimism about the months ahead. While the Present Situation Index gauges how consumers feel about today’s economic landscape, the Expectations Index measures their outlook for income, jobs, and business activity in the near future (typically the next six months).
This boost in confidence is largely driven by a resilient labour market, with job availability hitting its highest level in nearly three years. Consumers are also feeling more positive about the stock market, and concerns about inflation have eased—although rising prices are still a worry for many Americans.
Overall, consumers are not just confident about the present—they are optimistic about what is next. This points to a strong short-term outlook for the economy, which is good news for the markets and for us investors. 😊
American market volatility
The CBOE Volatility Index (VIX), often dubbed the market’s “fear gauge,” kicked off the week at 15.23 and gradually eased, staying within a narrow 15.0–14.0 range. By week’s end, it settled at 13.51, reflecting a calmer mood in the markets. Midweek, however, the VIX briefly flared up after the latest PCE inflation data came in hotter than expected, reminding investors that uncertainty still lingers despite the overall downward trend of inflation.
For some context, the VIX tracks expected market volatility over the next 30 days. When it is below 12, it signals a calm market. Readings between 12 and 20 reflect normal market swings. But once the VIX climbs into the 20-30 range, it indicates increased investor anxiety. Anything above 30 typically means the market is stressed, often a precursor to major turbulence or even a crisis.
The Impact of Tariffs on the Canadian and US economies
Before taking office, President-elect Donald Trump pledged to impose significant tariffs on the US’s three largest trading partners – Canada, Mexico, and China. This past week, he proposed a 25% tariff on imports from Canada and Mexico and a 10% tariff on goods from China. Together, these countries supply nearly half of all US food and beverage imports. While economists and trade experts will undoubtedly analyze the broader implications, I am particularly interested in how these measures could affect Canada – its economy, key industries, and consumers.
For Canada, the proposed tariffs would likely have far-reaching consequences. Economists estimate a 2.6% hit to Canada’s GDP, equating to a loss of roughly $2,000 per person annually. Ontario’s auto manufacturing and Alberta’s energy sectors would be among the hardest hit, while inflation could rise as businesses pass higher costs onto consumers. South of the border, the US economy would not escape unscathed, with an estimated $125 billion in annual economic costs. American consumers could lose purchasing power due to higher prices, and industries heavily reliant on Canadian imports, such as energy, could face significant supply chain disruptions – especially since nearly 60% of American oil imports come from Canada.
Ultimately, both economies would feel the strain, but Canada would bear the heavier burden due to its deep reliance on trade with the US. Canadian consumers would face rising costs, while key industries grapple with economic ripple effects. For American consumers, higher prices would also sting, though the overall impact on the US economy might be less severe. In short, these proposed tariffs risk unravelling the tightly woven economic ties between the two nations, creating significant challenges for both.
Weekly Market Review
Monday: The last week of November kicked off on a positive note, with all three major US indexes – the S&P 500 (S&P), Dow Jones Industrial Average (DJIA), and Nasdaq Composite – closing in the green. Oil prices, however, slipped amid reports of a ceasefire in the Middle East leading to concerns of oversupply.
In Canada, despite a boost in investor confidence, the Toronto Stock Exchange Composite Index (TSX) was weighed down by falling oil, gold, and other commodity prices. In trading, the Technology sector rose the most, while Basic Materials (miners and fertilizer manufacturers) had the biggest drop.
In the US, the DJIA hit a record high, as the markets reacted favourably to the nomination of the incoming administration’s pick for Treasury Secretary, sparking a wave of global optimism. In trading, Consumer Cyclicals led a broad market rally that saw only the Technology and Energy sectors fail to make it into the green.
Tuesday: threats of a 25% tariff had little impact on the American indexes as they all ended in positive territory. However, it was a different story for Canada’s TSX which ended lower. Oil prices ended lower after Israel and Hezbollah agreed to a ceasefire.
In Canada, the thought of crippling tariffs on exports to Canada’s largest trading partner weighed on the TSX. In trading, the Technology sector climbed the highest, while the Energy sector fell the farthest.
In the USA, despite concerns of possible trade wars, and worries over how much lower the Fed was prepared to lower interest rates, the S&P and DJIA both set new record closes. In trading, the Utilities sector was today’s big winner, while Energy and Basic Materials sectors were the only sectors to lose ground.
Wednesday: the markets delivered a mixed performance ahead of the US Thanksgiving holiday, with all three major US indexes closing lower while the TSX edged higher. Investors adopted a cautious stance after the latest American inflation data showed minimal progress toward the Fed’s 2% target.
In Canada, the TSX set another record high close after investors became less concerned about potential US tariffs. In trading, it was a day of broad-based gains, led by the Consumer Staples sector, while the Basic Materials sector was the only one to lose ground.
In the US, concerns about the Fed maintaining interest rates at their current level after the higher-than-expected inflation data weighed on the indexes. In trading, Healthcare was the top performing sector, while the Technology sector had the worst day.
Thursday: With the American markets closed for the American Thanksgiving Day holiday, the TSX took center stage. Seizing the spotlight, the TSX surged to another record high, fueled by investor optimism about the possibility of further rate cuts in both Canada and the US. In a day of light trading, the index saw widespread gains, led by the Healthcare sector, while Financials was the only sector to close lower.
Friday: Black Friday brought more than just shopping deals – it delivered gains for investors, with all four major indexes closing in the green. Optimism over potential rate cuts outweighed concerns about potential tariffs on two of the US’s biggest trading partners, Canada, and Mexico. Oil prices slid lower following the ceasefire in the Middle East.
In Canada, lower-than-expected GDP data put another 0.5% rate cut by the BoC back on the table, lifting the TSX to yet another record high close. In trading, the Technology sector advanced the most, while the Consumer Staples sector recorded the biggest drop.
In America, it was a shortened trading session as the US markets closed early as part of the extended Thanksgiving holiday, but that did not prevent the DJIA and the S&P from setting record high closes. In trading, Consumer Cycles advanced the farthest, while Utilities was the only sector to decline.
Weekly Market and Portfolio Review
For the week, the TSX (SPTSX) rose 0.8%, the S&P 500 (SPX) increased 1.1%, the DJIA (INDU) climbed 1.4% and the Nasdaq (CCMP) gained 1.1%.
| Index | Weekly Streak |
| TSX: | 4 – week winning streak |
| S&P: | 2 – week winning streak |
| DJIA: | 2 – week winning streak |
| Nasdaq: | 2 – week winning streak |
It was a shortened trading week in America due to US Thanksgiving, but Canadian markets stayed open for business all week. Overall, markets climbed higher, driven by hopes for lower taxes and deregulation in the US, lifting all four major indexes, as shown in the weekly progress chart above.
In the US, the week mostly followed an upward trend, with just a brief midweek dip after the latest PCE report showed a slight rise in inflation. But that news did not linger. By Friday, holiday cheer dominated, with the S&P posting its best post-Thanksgiving performance since 2012, marking its 53rd record close of the year. The DJIA was not far behind, securing its 47th record close during a strong Black Friday session. Optimism around lower interest rates, tax cuts, and reduced regulation has investors eyeing a more business-friendly environment. In theory, this sets the stage for a stronger economy, higher corporate earnings, and rising stock prices – keeping investors smiling and buying. 😊
Canada’s TSX took a rockier path to its weekly gain. Markets tumbled early in the week after President-elect Trump announced plans for a 25% tariff on Canadian goods, sending the loonie to a four-year low. However, those concerns faded as the week progressed. Optimism over potential rate cuts in both countries, coupled with a soft GDP report that raised hopes for another 0.5% cut from the BoC, helped the TSX finish in the green – stretching its weekly win streak to four.
As the holiday season kicks into gear, investor optimism remains strong, fueled by hopes for a more business-friendly environment and lower interest rates. Next week brings the latest jobs data for Canada and the US – let us hope there are no surprises. If the numbers match expectations, the markets could continue riding the tailwind of optimism into the year’s final stretch.
| Portfolio | Weekly Streak |
| Portfolio 1: | 1 – week losing streak |
| Portfolio 2: | 4 – week winning streak |
| Portfolio 3: | 4 – week winning streak |
It was a solid week for the portfolios, with two gaining ground and one slipping slightly, as shown in the bar chart below.
Portfolio 1 was the only one to lose value this week, despite 73% of its holdings posting gains. Highlights included standout performances by Navitas Semiconductor Corp (NASD: NVTS), up 31%, Rivian Automotive (NASD: RIVN), up 21%, and indie Semiconductor (NASD: INDI), up 11%. Liberty Media’s Formula 1 (NASD: FWONK) and Walmart (NYSE: WMT) also hit all-time highs. But even with these bright spots, the portfolio could not overcome a 5% drop in Nvidia (NASD: NVDA), which makes up a hefty 37% of its total value. This is a textbook case of the risks of over-concentration – great when the stock climbs, not so much when it dips. Note to self: time to trim some Nvidia shares. 😊
Portfolio 2 had a respectable week, with 66% of its holdings in the green. Guardant Health (NASD: GH) led the charge, jumping 15% and adding solid momentum to the portfolio.
Portfolio 3 was the star performer, beating not just the other portfolios but also the major indexes. Even with Vertiv Holdings (NYSE: VRT) pulling back 10% after the previous week’s record high, the portfolio cruised ahead. A whopping 72% of its holdings posted gains, with no major standouts or steep losses—just a steady, balanced performance.
Overall, it was a positive week, with each portfolio seeing at least 66% of its holdings register gains and only one stock across all three portfolios posting a significant loss. Portfolio 1’s Nvidia lesson aside, it is encouraging to see strength across the board. Here is hoping the momentum carries into next week!
Monthly Market and Portfolio Review
For November, the TSX (SPTSX) advanced 6.2%, the S&P 500 (SPX) rose 5.7%, the DJIA (INDU) surged 7.5% and the Nasdaq (CCMP) gained 6.2%.
November was a standout month for the markets, with all four major indexes firmly higher, as shown in the monthly progress chart above. In fact, it has been the best month of 2024 so far – a real high point for the year.
Uncertainty at the start of the month surrounding the US election quickly gave way to clarity and optimism after President-elect Donald Trump’s victory. His promises of tax cuts and deregulation sparked hopes for stronger corporate profits and economic growth, sending markets higher. Adding momentum was another interest rate cut, with the possibility of a third if inflation continues to ease. However, the Fed reminded investors it might hit pause on further cuts if the economy’s strength causes inflation progress to stall.
The month was not without its bumps, including a brief pullback in artificial intelligence (AI) stocks after Nvidia’s strong earnings, while impressive, did not fully satisfy some lofty investor expectations. Still, these concerns were overshadowed by the broader rally. The DJIA delivered its biggest monthly gain since late 2023, while the S&P enjoyed its best month in a year. Not to be left out, the Nasdaq hit record highs twice in November.
In Canada, the TSX had its strongest month in a year and its fifth straight monthly gain, boosted by Trump’s election win, strong earnings from Shopify (TSE: SHOP), and rate-cut speculation. Impressively, it was the only index to post weekly wins throughout the month. The index also hit multiple record highs throughout the month, with three straight to end the month. Still, gains were tempered by fluctuating oil and gold prices, inflation concerns, and ongoing geopolitical tensions.
With November’s momentum setting the stage, December looks primed for a Santa Claus rally. 😊 Here is to the markets staying in a festive mood through the holidays and into the new year!
November was a stellar month for the markets and even better for the portfolios, as shown in the performance chart below. While a 6.5% monthly gain by Portfolio 1 would typically be impressive, it was outpaced by the other two, with Portfolio 3 more than doubling that return.
Portfolio 1 had a strong month, powered by big performances from heavyweights like Amazon (NASD: AMZN), Visa (NYSE: V), and Walmart, all reaching all-time highs. Shopify stood out with a 22% weekly gain, and indie Semiconductor had a remarkable 63% gain for the month (its much easier to have this type of gain when the share price is low to begin with 😊). Even with a 16% dip from Innovative Industrial Properties (NYSE: IIPR) one week and a 5% pullback in Nvidia – the portfolio’s largest holding – in the final week of the month, Portfolio 1 showed impressive resilience.
Portfolio 2 had an even better month, led by Guardant Health, which surged 28% in a week, and both iA Financial Group (TSE: IAG) and Dollarama (TSE: DOL) hitting all-time highs. MongoDB (NASD: MDB) added 17% in a week, and Disney (NYSE: DIS) gained 16% after a solid earnings report. The portfolio delivered steady growth throughout November, with consistent weekly wins.
Portfolio 3 stole the spotlight in November, outperforming both its peers and the broader markets. Shopify’s stellar 22% weekly gain after its earnings release was a key driver, as it accounts for over 25% of the portfolio’s value. Magnite (NASD: MGNI) added a solid 13% weekly gain, while Vertiv Holdings surged 18% in one week to hit an all-time high. With the majority of its holdings consistently logging weekly gains, Portfolio 3 maintained strong momentum, avoided significant losses, and closed the month with standout returns.
November was a strong month for all three portfolios, with each showing impressive growth. As we head into December, the momentum is strong, and hopefully, a Santa Claus rally awaits and will provide similar monthly returns! 😊
Companies on the Radar
This week, four intriguing companies joined my Radar List.
First, there’s Constellation Software (TSE: CSU), a large-cap Canadian leader in building vertical market software businesses throughout the world. Alongside it is Topicus.com Inc. (TSV: TOI), a mid-cap spinoff from Constellation in 2020, focusing on delivering vertical software solutions in the European Union market.
Looking to America, two more companies caught my eye: Domino’s Pizza (NYSE: DPZ) and Genuine Parts Company (NYSE: GPC). Domino’s, the well-known pizza giant, continues to expand its menu and footprint, while Genuine Parts Company is a leading provider of automotive and industrial replacement parts, along with value-added services, to customers around the globe.
I am drawn to each of these companies’ mix of reliable dividends, steady growth, and strong long-term potential. With these four additions, my Radar List has grown to six names (including two holdovers), and I expect at least one new company to be dropped after further investigation. Want to know which one makes the cut? Check back next week! 😊
- On Holding AG (NYSE: ONON), a medium cap Swiss company, founder-run, sports products company.
- Topaz Energy Corp. (TSE: TPZ), a mid-cap Canadian energy investment firm that focuses on strategic investments in premium energy assets operated by top-tier Canadian companies, and currently pays a 4.69% dividend.
As always, these are not buy recommendations – be sure to do your own research and make decisions that align with your personal financial goals!
The Radar Check was last updated November 29, 2024.
Portfolio Update
Portfolio 1
Portfolio 1 for the week ended November 29, 2024: DOWN 
- Rivian Automotive and Tesla (NASD: TSLA) have reached a conditional settlement over allegations that Rivian misappropriated Tesla’s electric vehicle (EV) trade secrets.
In other Rivian news, the company announced they have received conditional approval for a loan from the US Department of Energy for up to US6.6 billion. The money will be used to build a production facility in Georgia for their second generation of EVs.
Activity
No significant activity to report this week.
Dividends
Dividends Received this week for the following companies:
Companies followed by DRIP (Dividend Re-Investment Plan) indicate additional shares were purchased with the dividend. Any cash leftover was added to the cash balance.
Canadian $
Dream Industrial Real Estate Investment Trust (TSE: DIR.UN) DRIP
Tourmaline Oil Corp ((TSE: TOU)
Pulse Seismic Inc (TSE: PSD)
TMX Group Ltd (TSE: X)
US $
No US$ dividends this past week.
Quarterly Reports
CrowdStrike Holdings, Inc.
Third quarter 2025 financial results on November 26, 2024
Portfolio 2
Portfolio 2 for the week ended November 29, 2024: UP 
- Guardant Health announced that they were awarded US$292.5 million in a false advertising lawsuit. A jury found that competitor Natera Inc. (NASD: NTRA) deliberately misled cancer clinicians about Guardant’s tissue-free minimal residual disease test for early-stage colorectal cancer, Guardant Revel, to promote their own competing product.
- The US Federal Trade Commission has launched an antitrust investigation into Microsoft (NASD: MSFT). They will be investigating its cloud computing, software licensing practices, cybersecurity services, and AI products.
Activity
No significant activity to report this week.
Dividends
Dividends Received this week for the following companies:
Canadian $
Dream Industrial Real Estate Investment Trust (TSE: DIR.UN) DRIP
Tourmaline Oil Corp ((TSE: TOU)
US $
No US$ dividends this past week.
Quarterly Reports
Alimentation Couche-Tard Inc.
Second quarter 2025 financial results on November 26, 2024
Portfolio 3
Portfolio 3 for the week ended November 29, 2024: UP
- TD Bank (TSE: TD) is planning to implement US government-mandated monitoring systems in order to meet government anti-money laundering regulations.
- Last week it was reported that Brookfield Asset Management Ltd. (TSE: BAM) was preparing to purchase Spanish pharmaceutical company Grifols (OTCM: GIKLY). This week BAM has walked away from the deal after the Grifols board rejected BAM’s offer.
Activity
No significant activity to report this week.
Dividends
Dividends Received this week for the following companies:
Canadian $
Enghouse Systems Ltd (TSE: ENGH)
Royal Bank of Canada (TSE: RY)
US $
No US$ dividends this past week.
Quarterly Reports
No quarterly reports this past week.