As politics in the US circuses onward, over the pond the UK may have stepped up a political notch with the appointment of Theresa May as Prime Minister and leader of the Conservative Party. Some have even commented that it feels more like a change in government rather than party leadership, as she seems to lean liberally towards language that would suggest a “kinder brand of capitalism”. Britain is biking up a steep hill for a while, expending administrative and political energy on organizing new framework for agricultural, environmental and regulatory industries, before even starting the negotiation of new trade deals.
Meanwhile, the bull just keeps ripping through new highs, making many wonder what is going on? Hedge funds have been betting on a decline, but the bull’s strength might come down to a new breed of millennial investor sitting down to play at the table. As boomers retire, millennials are investing, throwing off the fundamental signals that were pointing to a decline.
We have made changes to our portfolio and have an update on stock holdings coming shortly. Very interesting deals being done in the microcap space, mining is heating up again fueled by commodity prices, bull markets and perhaps even Vancouver’s runaway housing market. The last month of summer is upon us. Fall should be interesting.