Irwin Michael’s April Commentary
Irwin Michael, fund manager of ABC funds, has just put up his latest monthly commentary for April 2006. Investorial readers will know that Irwin is my favourite Canadian fund manager, and is often talked about in these articles.
What’s so refreshing about Irwin is that he lets everybody in on his thought processes so that you may learn about how he picks stocks. This month, Irwin focuses on the oil & gas run-ups and comments about metal prices.
… Interestingly, the oil & gas and mining sectors now comprise over 45% of the TSX index causing many investors to question whether the current market boom is akin to the high technology boom (and bust) of six years ago. In fact, for these investors who cannot recall, one TSE stock out of 300, Nortel, comprised at its peak price of $124½ over 35% of the TSX 300 index. Is the present resource boom reminiscent of the high tech mania of 1999-2000? Probably not, however, we are becoming increasingly concerned about the spectacular price rise in metals prices …
I was pleasantly surprised to see that Irwin has a podcast syndication feed on the site! Kudos to Mr. Michael for getting with the times!
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- Irwin Michael’s Monthly Commentary - May 2006
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2 Responses to “Irwin Michael’s April Commentary”
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Dave Says:
April 27th, 2006 at 7:28 pmThis situation makes me long for an index which not only caps individual stocks to have no more than a 10% share, let’s say, in the index, but which also caps sectors. 45% for oil, gas, and mining is ridiculous.
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Vince Chan Says:
April 27th, 2006 at 7:46 pmAn actively managed/adjusted index? LOL
