Francois Trahan and Martin Roberge Presentations at the ANEB Luncheon
Canaccord Genuity's Martin Roberge and Francois Trahan of Trahan Macro Research presented their views at a luncheon yesterday at the St-James Club in Montreal to raise money for ANEB Quebec , an organization that provides support for people suffering from eating disorders. Even though my back has been killing me the last couple of weeks (I have to write about the ups and downs of spinal fusion surgery), I got out of my bubble and attended the event and was very happy I did as it's a great cause and these are my two favourite strategists. I asked both gentlemen to provide me with their presentations afterwards and they were kind enough to oblige. Francois was up first, presenting the bearish case. I am not going to go through his whole presentation but provide you with some key points and slides. He began by noting there was an unusual amount of Fed tightening for today's investor: And then stated the last 5 recessions began when the yield curve started steepening: This is