November 28, 2013 Newsletter

Dear Friends,

Tangents:

I love this – especially  “make each day your masterpiece”.

John Wooden’s Seven Point Creed, given to him by his father Joshua upon his graduation from grammar school:

• Be true to yourself.
• Make each day your masterpiece.
• Help others.
• Drink deeply from good books, especially the Bible.
• Make friendship a fine art.
• Build a shelter against a rainy day.
• Pray for guidance and give thanks for your blessings every day.

Photos of the day

Burial Hill in Plymouth is one of the oldest cemeteries in the US. English settlers, the Pilgrims, built their first fort and meeting house on this hill. Melanie Stetson Freeman/Staff

School groups walk through the English Village at Plimoth Plantation. The ‘First Thanksgiving’ was celebrated by the Pilgrims in Plimoth after their first harvest in the New World in 1621. This feast lasted three days, and was attended by about 53 Pilgrims and 90 American Indians. Melanie Stetson Freeman/Staff

A statue of Massasoit, Sachem, or leader, of the Wampanoags, stands on a hill overlooking Plymouth Harbor. Massasoit was known as ‘Protector and Preserver of the Pilgrims.’ According to English sources, Massasoit prevented the failure of the Plymouth Colony and the almost certain starvation that the Pilgrims faced during the earliest years of the colony’s establishment. Melanie Stetson Freeman/Staff

Market Closes for November 28^th, 2013

International Markets

Bonds

Currencies

Commodities

Market Commentary:

Canada

By Eric Lam

Nov. 28 (Bloomberg) — Canadian stocks rose for a second day as gold producers advanced after the metal snapped two days of losses. DHX Media Ltd. surged after agreeing to buy several television channels from BCE Inc.

DHX Media jumped 24 percent after buying Family Channel, Disney XD and other channels from Bell Media, a unit of BCE, for about C$170 million ($161 million) in cash. Detour Gold Corp. climbed 14 percent and Iamgold Corp. rose 2.7 percent. Air Canada, the best-performing stock in the Standard & Poor’s/TSX Composite Index this year, added 2.1 percent for a second day of gains.

The S&P/TSX rose 8.77 points, less than 0.1 percent, to 13,370.83 at 4:33 p.m. in Toronto. The benchmark equity gauge has risen 7.5 percent this year. U.S. markets are closed for the Thanksgiving holiday.

“Gold’s been down the past few days so it’s rebounded a bit today, as the U.S. dollar is down,” said Anish Chopra, a fund manager with TD Asset Management Inc. in Toronto. He helps manage C$216 billion at the firm. “U.S. markets are a real driver of market activity and when they’re closed it’s usually a very quiet day.”

Raw-materials stocks added 0.9 percent as a group as six of 10 industries advanced in the S&P/TSX. Trading volume was 73 percent lower than the 30-day average.

Detour Gold, the worst-performing stock in the S&P/TSX this year, jumped 14 percent to C$4.13, the most since July. Detour has slumped 83 percent this year.

Iamgold advanced 2.7 percent to C$4.53 as gold for immediate delivery increased 0.5 percent at 4:55 p.m. in London.

Teck Resources Ltd., Canada’s largest diversified miner by market value, gained 2.8 percent to C$25.95 and First Quantum Minerals Ltd. rallied 3.8 percent to C$17.93 to break four days of losses as global copper inventories declined for a 19th session to 429,200 tons.

DHX Media, the Halifax-based TV and movie programming producer, surged 24 percent to a record high of C$5.19 after agreeing to buy channels from BCE.

The company plans to pay using a combination of debt and cash on hand, and projects the deal to close in 2014 pending regulatory approval.

The channels will “greatly expand the scale of our business,” Dana Landry, chief financial officer at DHX, said in a statement. The channels would have increased DHX’s revenue by more than 70 percent in the past 12 months, Landry said.

Alimentation Couche-Tard Inc., the convenience store and gas bar operator, rose 1.5 percent to C$77.96 to extend a record high and pace gains among consumer staples stocks.

Couche-Tard has jumped 6 percent in the past five days. The Laval, Quebec-based company reported better-than-forecast second-quarter adjusted earnings and raised its quarterly dividend on Nov. 26.

Output in Canada probably grew at an annualized pace of 2.4 percent in the third quarter, its fastest pace in two years, according to the median estimate of economists surveyed by Bloomberg. Statistics Canada will release quarterly and monthly GDP figures tomorrow at 8:30 a.m. in Ottawa.

Air Canada, the nation’s largest airline, increased 2.1 percent to C$7.15 to extend a five-year high. The stock has soared 309 percent this year.

USA

Markets closed for Thanksgiving.

Have a wonderful evening everyone.

Be magnificent!

I do not want my house to be walled in on all sides and my windows to be stuffed.

I want the cultures of all the lands to blow about my house as freely as possible.

But I refuse to be blown off my feet by any.

Mahatma Gandhi, 1869-1948

As ever,

Carolann

A moment’s insight is worth a lifetime

of experience.

-Justice Holmes, 1841-1935.

Carolann Steinhoff, B.Sc., CFP®, CIM, FCSI

Senior Vice-President &

Senior Investment Advisor

Queensbury Securities Inc.,

St. Andrew’s Square

Suite 340A, 730 View St.,

Victoria, B.C. V8W 3Y7