November 28, 2019 Newsletter

Dear Friends,


On Nov. 28, 1943, President Roosevelt, British Prime Minister Winston Churchill and Soviet leader Josef Stalin met in Tehran during World War II.  Go to article »

From Rosemary Verey, A Countrywoman’s Notes,  my treasured book from which I derive a great deal of pleasure:
“Keeping a diary seems to run in my husband’s family.  His mother and grandfather both kept one  for a long span of years and he himself has kept a diary without a break since he went to Eton in 1926.  Between the three generations the diaries cover well over 100 years.  They are a wonderful record and as I read them people and places long since forgotten flash through my memory and events are recaptured with varying vividness.  I feel full of remorse that I have not mastered the art of spending even five minutes each evening recording the day’s happenings.  I have made several short-lived attempts, sometimes as a New Year resolution, as a genuine desire to keep a record of what was going on in the garden and the countryside.  I have recently been admonished for my idleness and in consequence my new diary is a full four weeks old.  It has the usual factual evidence of events; visitors, jelly-making from the quince crop, the mowing machine breaking down, the greenhouse roof collapsing and the glow of this autumn’s leaves.  In my attempt to make the diary of some practical help I would like to discover whether our vegetable and fruit growing efforts are an economy or an elaborately planned and time consuming extravagance.  Being a countrywoman I take it for granted that a vegetable patch is essential.  Its success or failure depends on efficient planning but is it uneconomical?  I do not believe it is but some people as they walk round my garden comment that each cabbage must cost a fortune.  Only my full year’s records will tell.  I shall have to be scrupulous and include the cost of every item, from seeds and sprays to the time spent digging, weeding and harvesting.  It will be even more difficult to assess the pleasure, such as those wonderful autumn raspberries, the variety called September, or the earliest of early potatoes, or the salads freshly picked and garnished with herbs.” –Rosemary Verey, 1979.


A skateboarder performs inside the Triennale in a skatepark installation called “OoooOoO”  by south Korean artist Koo jeon A and curated by Julia Peyton-Jones and Lorenza Baroncelli in Milan.

Camels during the Red Bull Racing Hump Day at Ghantoot Racing and Polo Club in Abu Dhabi, United Arab Emirates.

Flamingos bask under the morning sun in their lake enclosure at the Jurong Bird Park in Singapore.

Market Closes for November 28th, 2019  

Close Change
S&P 500
TSX 17114.52 +13.95










International Markets

Close Change
NIKKEI 23409.14 +28.63
26893.73 +60.27
SENSEX 41130.17 +109.56
FTSE 100* 7416.43 +13.35



Bonds % Yield Previous % Yield
10 Year Bond
1.469 1.475
30 Year
1.574 1.579
10 Year Bond
30 Year Bond


BOC Close Today Previous  
Canadian $ 0.75292 0.75287
1.32816 1.32825
Euro Rate
1 Euro=
Canadian $ 1.46234 0.68384
1.10103 0.90824


Gold Close Previous
London Gold
1454.35 1454.65
WTI Crude Future 58.11 58.41

Market Commentary:
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite advanced slightly to 17,114.52 in Toronto. Brookfield Asset Management Inc. contributed the most to the index gain, increasing 0.5 percent. Aurora Cannabis Inc. had the largest increase, rising 3.6 percent. Today, 137 of 233 shares rose, while 88 fell; 7 of 11 sectors were higher, led by materials stocks.

* So far this week, the index rose 0.9 percent
* This month, the index rose 3.8 percent, heading for the biggest advance since January
* This year, the index rose 19 percent, heading for the best year in at least 10 years
* The index advanced 13 percent in the past 52 weeks. The MSCI AC Americas Index gained 15 percent in the same period
* The S&P/TSX Composite is 0 percent below its 52-week high on Nov. 28, 2019 and 24.2 percent above its low on Dec. 24, 2018
* The S&P/TSX Composite is up 0.7 percent in the past 5 days and rose 4.4 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 17.4 on a trailing basis and 15.9 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.63t
* 30-day price volatility fell to 4.00 percent compared with
4.22 percent in the previous session and the average of 5.63
percent over the past month

|Index Points | |
Sector Name | Move | % Change | Adv/Dec
Materials | 10.1614| 0.6| 33/15
Financials | 4.2626| 0.1| 12/13
Health Care | 3.6750| 1.7| 10/0
Communication Services | 2.8233| 0.3| 4/2
Energy | 2.0648| 0.1| 14/16
Utilities | 0.1945| 0.0| 14/2
Real Estate | 0.0000| 0.8| 17/8
Information Technology | -0.2089| 0.0| 5/3
Consumer Discretionary | -1.5875| -0.2| 6/10
Industrials | -2.6180| -0.1| 16/15
Consumer Staples | -4.0509| -0.6| 6/4

* The benchmark 10-year bond rose and the yield fell 0.9 basis points to 1.467 percent

US markets closed for Thanksgiving Day.

Have a great night.

Be magnificent!

As ever


In the fields of observation, chance favors only the prepared mind.
                                                       -Louis Pasteur, 1822-1895

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828