Hello,
The Bank of Canada opted to keep rates unchanged, with economists attributing the ongoing battle against inflation to government spending as the primary factor.
In Canada, the equity market is showing signs of strength, with BMO’s Brian Belski suggesting the potential for sustained outperformance of Canada in the coming months.
Certain Canadian politicians are contemplating windfall taxes for select oil producers. Looking at the consequences seen in the North Sea industry when taxes skyrocketed is something for those people to think about.
A recent interview with the prominent figure at Doomberg sparked insightful discussions on energy and various other sectors.
Chris Davis was part of an exceptional podcast, sharing captivating anecdotes about luminaries like Charlie Munger and Warren Buffet, along with offering invaluable investment insights.
Steve Saretsky provides updates on governmental housing initiatives, while the CEO of RBC underscores the significant risks to Canada if the housing crisis remains unresolved.
Michael Emory, a trailblazer in the Canadian real estate realm, and his team at Allied are spearheading innovative projects in major urban centers. Highlighting the importance of downtown revitalization, especially in Victoria, underscores the relevance of Emory’s endeavors.
Bill 12 has become a focal point in British Columbia, with numerous law firms issuing opinion reports. The Vancouver Board of Trade and the BC Business Council are at the forefront of advocacy efforts.
As the Masters tournament commences, excitement abounds for avid golf fans like myself. ESPN’s coverage has shed light on compelling narratives and I and many friends are looking forward to the event.
Best regards,
David
Ps….nice to see the story of the Terry Fox Centre Collection being stored at the RBCM. Such a great Canadian and it is great to have to have it here in Victoria.
Number 3- Why the death of North Sea oil is a disaster for Britain
https://www.telegraph.co.uk/business/2024/04/07/death-of-north-sea-oil-disaster-for-britain/
‘Decommissioning is the new name of the game – despite an estimated 25 billion barrels of untapped oil’Disaster for Britain
Number 4- Doomberg Decodes Pumpanmentals, Market Riddles, Energy, Gold/China, Uranium & Gold
https://www.youtube.com/watch?v=jesfNzS3M-A
In this conversation, Doomberg (https://doomberg.substack.com/) joins Pierre and Mike to discuss various topics including Bitcoin, the parallel between Michael Saylor and Hugo Stinnes, speculative mania, the parallels in the borrowing strategy of Hugo Stinnes and Michael Saylor, pumpamentals driving distortions in the market and the flywheel effect, the geopolitical implications of the Russia-Ukraine conflict, the dangers of do-gooders and climate newspeak, and the natural gas situation and its unexpected impact on the economy.
Number 5-Chris Davis: Three Generations of Wealth The Knowledge Project with Shane Parrish
Most families who obtain immense wealth squander it by the third generation. But Chris Davis comes from a family whose grandfather and father all became independently wealthy of each other, and Davis has done the same. How does that keep happening? In this conversation, we find out.
Number 7-Dave McKay: failure to lower housing costs could 'put our entire economy at risk.
I’m no longer alone in my views. The CEO of RBC agrees’.-Jim Thorne)
Number 8- Michael Emory
https://alliedreit.com/wp-content/uploads/2024/04/ALLIED_My-Thesis-Revisited.pdf
To summarize, my thesis continues to be based on how I expect future evolution in Canadian commercial real estate to flow from past evolution. Commercial real estate is not static; it’s wholly dynamic, like all other business activities. Because of historic and recent human behaviour, I continue to believe strongly in the three secular trends I discussed in My Thesis— (i) urban intensification, (ii) humanistic operation and (iii) stress-tested leadership.
We hope you found the Top Ten interesting this week, and are looking forward to another selection of articles, stories, and commentary next week. If you know of anyone else who would be interested in receiving our weekly note, please let me know.
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