Writings

B.C.’s work on developing relationship with China pays off: $695M raised in first Panda offering

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Given the possibility, very few borrowers would pass the chance to make use of a brand new group of investors and raising debt capital. But opportunities aren’t given. Instead, they have to be created as the province of British Columbia discovered now if this priced its first so-called Panda bond. The text – B.C. will borrow 3-billion renminbi on the ...

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JPMorgan’s head quant warns of ‘marcro-momentum bubble’

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Marko Kolanovic, the derivatives strategist at JPMorgan Chase & Co., made all the right calls when markets went haywire last August. Now he’s back with an reason behind what’s happening in the present market and it’s a doozy. In short, Kolanovic is predicting what he calls the “macro-momentum bubble,” that has seen money pour into the U.S. dollar and developed ...

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Canadian hedge funds are outperforming the market — while U.S. counterparts crash

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Capricious markets have given nothing but headaches to investors the world over, but one group of financial wizards has made a virtue of all of this volatility: Canadian hedge fund managers. This country’s hedge funds have been strongly outperforming the broader market in the past year. The elevated volatility continues to be embraced by managers, a lot of whom see ...

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Silver Wheaton’s squabble with the CRA resembles a poker match

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When the Canada Revenue Agency demanded a lot more than US$200 million at the spine taxes from Silver Wheaton Corp. last July, almost no one thought it might hold on there. The CRA’s claim only applied for alleged unpaid taxes from 2005 to 2010. Investors figured the tax collector would ultimately create a similar claim covering more recent years since ...

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Luxury watchmakers expecting ‘very, very difficult’ 2016 as sales stall out

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ZURICH Body year following a shock currency move roiled Swiss watchmakers, the industry now faces a fresh cast of crises that’s forced the craftsmen of luxury timepieces into an unfamiliar role: travelling salesmen. Smartwatches to gather data on Parkinson’s patients in Toronto biotech company’s clinical trial A Toronto-based biotech clients are teaming track of the Michael J. Fox Foundation, strapping ...

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Oil’s new mantra: ‘A lot lower for a lot longer’

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The first mantra of the oil crisis was “lower for extended.” Then “lower for even longer.” Now in Davos, oil executives are beginning to talk – in other words, whisper – about a new nightmare scenario: “A lot lower for a lot longer.” Oil executives, policy makers and banks said in the first days of the planet Economic Forum that ...

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Valeant Pharmaceuticals International Inc CEO Michael Pearson tells employees timing of his return is uncertain

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Valeant Pharmaceuticals International Inc’s ailing chief executive, Michael Pearson, said he was on the path to recovery but was uncertain about as he would return from medical leave. “I’m glad to say that I’m on the road to recovery and although the timing of my return remains uncertain, I look forward to being back at work when able,” Pearson said ...

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Five things to look for if you want to play the energy rebound

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With all of the talk of “lower for longer” and “this time it’s different” – not to mention the truth that fear is finally starting to sink in among forever-optimist Albertans – one needs to wonder if oil prices have finally found a bottom. As I wrote a week ago, oil market recoveries and downturns are never linear in nature ...

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