By Scott Ronalds

Markets had a good quarter, with resource stocks rebounding. The Canadian market (S&P/TSX Composite Index) gained 7%, while the MSCI World Index rose 3% (in Canadian dollar terms). Japan was the laggard, as the market declined slightly. There were some positive developments in Europe regarding the region's debt problems, with the European Central Bank (ECB) stepping up efforts to tackle fiscal issues. Bonds also had a positive quarter, led by a strengthening in corporate and high yield bond prices.

Our funds performed well in the quarter and have provided strong returns year-to-date. As for asset mix, which is reflected in the Founders Fund, we are maintaining a full allocation to stocks and a minimum weighting in government bonds. We also have a meaningful cash reserve in anticipation of more volatile markets ahead.

In this podcast, we review the quarter in further detail and highlight some of the key takeaways from our Quarterly Report.

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