CIBC Private Wealth Management Blog
Matt Scherer, CFA
Investments

Investing in Europe

Matt Scherer, CFA
April 09, 2019

We are often asked about investment prospects in the eurozone given the stream of negative headlines. We concede that the pace of growth in the region  has been slowing for many months now; however, we still believe fundamental investors can create value by investing in Europe. Currently, the CIBC International Growth portfolio consists of 25 holdings in Europe and the U.K. and we think...
Investments

International Update: European Due Diligence

Matt Scherer, CFA
October 08, 2018

Download PDF   The MSCI All Country World ex USA stock index was up roughly 0.5% in September, but remains down over 2.5% for the year. The wild ride continued last month as the market declined over 3.0% early on, only to stage a strong recovery in the back half of the month. The same themes continue to pressure international stock markets, with emerging market and trade...
Investments

Going Deep in the Name of Due Diligence

Matt Scherer, CFA
August 15, 2018

The MSCI All Country World ex USA stock index was up 2.4% in July, but remains down 1.5% for the year. Stabilization of the U.S. dollar, progress on trade agreements and signs of a recovery in the emerging markets all contributed to solid returns for the month. International markets continue to lag domestic markets, but the gap closed some in July as easing headwinds and attractive valuations...
Investments

Trade Tension: The Portfolio Manager's Playbook

Matt Scherer, CFA
June 30, 2018

Download PDF   The MSCI All Country World Index ex USA, which tracks both developed and emerging markets, was down 1.9% for the month of June and is now down 3.8% for the year to date. Global stock markets declined in June in large part related to investor fears about the increasing threat of trade wars. The planned implementation of tariffs announced by the U.S., the retaliatory...
Investments

Singapore: Proving the “Smart City”

Matt Scherer, CFA
June 11, 2018

Download PDF   The MSCI All Cap World Index ex USA, which tracks both developed and emerging markets, was down 1.9% for the month of May and is now down 1.8% year to date. International stock prices and macroeconomic data continued to deteriorate last month, resulting in international markets underperforming U.S. equity markets. While underperformance of international markets is...
Investments

War and Peace on the Peninsula

Matt Scherer, CFA
May 03, 2018

Download PDF   The MSCI All Cap World Index ex USA, which tracks both developed and emerging markets, was relatively unchanged for both April and 2018. The month of April was not without the requisite volatility: at one point last month the market was up over 2% before ceding the gains in the last few weeks. Three topics caught our attention this month. Macro Data Deterioration ...
Investments

[Trade] War – What Is It Good For? Absolutely Nothing

Matt Scherer, CFA
March 29, 2018

Download PDF   The MSCI All Cap World Index ex USA, which tracks both developed and emerging markets, was down by 0.6% in March and 0.5% for the year. After a year of unusually low volatility in 2017, domestic and international markets have treated investors to a wild start in 2018. This month I will focus on three topics: trade wars, tempered global macro data and my research...
Investments

International Update: The Year of the Dog Starts With Some Bite

Matthew K. Scherer, CFA
March 02, 2018

Download PDF   The MSCI All Cap World Index ex USA, which tracks both developed and emerging markets, was down 0.5% in February and was down almost 10% at one point during the month from January highs. After strong market performance in 2017 that was characterized by a lack of volatility, the market correction was not totally unexpected. Consistent with trends in 2017, investors...
Investments

International Update: Momentum Continues

Matthew K. Scherer, CFA
February 02, 2018

Download PDF   The MSCI All Cap World Index ex USA, which tracks both developed and emerging markets, was up 5.5% in January after finishing up 27.2% in 2017. 1 Last year marked the first time since 2012 that the MSCI All Cap World Index ex USA outperformed the domestic S&P 500 Index 2 . The strong global stock market performance accelerated into 2018, and during the month we...