MacNicol’s Quarterly Commentary – January 2022


With this commentary, we plan to communicate with you every month about our thoughts on the markets, some snapshots of metrics, a section on behavioural investing and finally an update on MacNicol & Associates Asset Management (MAAM). We hope you enjoy this information, and it allows you to better understand what we see going on in the marketplace.

“I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.”

– Warren Buffet

Approximately normal…

Happy New Year! I truly hope you had the opportunity to enjoy some quality time with friends and family this holiday season and whether it was virtual or in person I do hope you are keeping safe and staying healthy. I thought I would start 2022 off for us with a refresher lesson in statistics. The Central Limit Theorem states that if you have a population with a mean μ and a standard deviation σ and take sufficiently large random samples from the population itself, then the distribution of the samples you’ve plucked will be approximately normally distributed………….


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The Quarterly Commentary January 2022