9th Annual Okanagan CFA Forecast Dinner
Q: Tell us about it.
A: We started this event in 2002 and had about 125 people out and last night they sold 215 tickets. The money goes toward charity, specifically post secondary education. Each year we have 2 defenders who made their forecast last year and
3 Forecasters. They have to predict the value of the Dow, the TSX, the Cdn $ and a long and short stock pick on December 31st, 2011.
Q: Who would be so foolish to stand up there?
A; This year the defendenders were Gareth Watson who recently changed jobs but was Director, Canadian Equities for Scotia from Toronto and a local portfolio manager, Bruce Campbell. Both went long on what they should have shorted and shorted what they went long on. As always they had good justification for it and they explained it was just a timing issue. They key is execution.
The forecasters were William Hoyt from Boston, portfolio manager with Fidelity. Steven Holm a 3rd year finance student from TRU in Kamloops and Dr. David Bond who is now retired but had a distinguished career including being a professor at several Canadian Universities,the President of the Canadian Association of Broadcasters and the Cheif Economist for HSBC Canada.
Q: What did they predict?
A: All said the TSX and the Dow would be up anywhere from 8% to 23.82%. By the way it was the American who was most bullish about the TSX. The Canadian dollar up 1.03 to 1.06. Long picks were the Sterling British Pound, Potash Corporation & CPR railway. The shorts were Technology, Gold and LuLu lemon.
A: We started this event in 2002 and had about 125 people out and last night they sold 215 tickets. The money goes toward charity, specifically post secondary education. Each year we have 2 defenders who made their forecast last year and
3 Forecasters. They have to predict the value of the Dow, the TSX, the Cdn $ and a long and short stock pick on December 31st, 2011.
Q: Who would be so foolish to stand up there?
A; This year the defendenders were Gareth Watson who recently changed jobs but was Director, Canadian Equities for Scotia from Toronto and a local portfolio manager, Bruce Campbell. Both went long on what they should have shorted and shorted what they went long on. As always they had good justification for it and they explained it was just a timing issue. They key is execution.
The forecasters were William Hoyt from Boston, portfolio manager with Fidelity. Steven Holm a 3rd year finance student from TRU in Kamloops and Dr. David Bond who is now retired but had a distinguished career including being a professor at several Canadian Universities,the President of the Canadian Association of Broadcasters and the Cheif Economist for HSBC Canada.
Q: What did they predict?
A: All said the TSX and the Dow would be up anywhere from 8% to 23.82%. By the way it was the American who was most bullish about the TSX. The Canadian dollar up 1.03 to 1.06. Long picks were the Sterling British Pound, Potash Corporation & CPR railway. The shorts were Technology, Gold and LuLu lemon.
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