Podcast: Second Quarter Review

By Scott Ronalds Stock markets around the globe declined in the second quarter as investors focused on the ongoing debt saga in Europe. Bonds fared well as the yield on the Government of Canada benchmark 10-year bond dropped by roughly 0.4% and fell below 1.65% in early June to reach a new low (when yields fall, bond prices rise). Our funds held their ground for the most part and have provided strong downside protection during the heightened volatility of the past 18 months. As for asset mix (which is reflected in the Founders Fund), we modestly added to stocks (foreign in particular) and trimmed bonds in the quarter. Our managers feel there is good value in a number of stocks, particularly those that have growing exposure to the emerging markets. In this podcast we review the quarter in further detail and highlight some of the key takeaways from our Quarterly Report. Download, subscribe via iTunes or RSS, or listen now: