Home | Lee, Turner & Associates Inc. | Investment Management Since 1991

WHO WE ARE

Since 1991, we have been a registered Portfolio Manager in British Columbia, Canada.

WHAT WE DO

We provide tailored discretionary investment management to investors of most sizes, from individuals & families to foundations, charities and non-profit organizations.

HOW WE DO IT

We employ stringent top-down, fundamental analysis to build a portfolio of securities that suits our clients’ objectives.

Latest Insights

October 2024 – Investment Quarterly

As time has passed, many investors are now questioning where we stand in the economic cycle. With central banks cutting interest rates in an effort to stimulate the economy, the question arises: are we at the beginning of a new cycle, or are these measures indicative of a cycle nearing its end? We believe we’re likely still in the early stages of a larger cycle set in motion by the pandemic—one marked by historically low interest rates, border shutdowns, supply chain disruptions, loose fiscal policies, and near double-digit inflation. The effects of these unprecedented events are still unfolding throughout the economy.

So it’s reasonable to believe that long-run inflation hasn’t been fully absorbed yet.

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July 2024 – Investment Quarterly

On June 5, the Bank of Canada jumped to the front of the line of developed countries’ central banks and cut its interest rate. The cut was a modest 0.25% and the immediate signal taken by market participants was positive, but that enthusiasm quickly faded as the market trailed down over the remainder of the month. Admittedly, this cut came slightly earlier than our expectations, but our reasoning was sound because the inflation number, Canadian CPI at 2.9%, that was reported just three weeks later was ahead of expectations and stubbornly far higher than the “2% target.”

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April 2024 – Investment Quarterly

Central bankers, economists and politicians continued to tell investors that the overall health of the economy was not too hot, not too cold, but just right. After digesting their porridge of economic data, monetary policymakers decided that interest rates were also just right, keeping them status quo for the quarter.

And while they reiterated that the economy was healthy, with a primary focus on inflation trending as intended, they also continued to tease investors with the idea that multiple interest rate cuts may come this year. As a result, investors priced in very high expectations for these decreases to materialize, driving a strong performance in equities to start the year based on the belief that growth and profitability will follow.

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Let’s chat.

We welcome all inquiries. Contact us to open a dialogue or start the discussion.

Lee, Turner & Associates Inc.

Suite 790, 999 West Hastings Street

Vancouver, BC

Canada, V6C 2W2

Phone: (604) 689-3289

Fax: (604) 689-7862