The TSX may be a flop, but it is our flop.
At this point, Canadian investors may need reminding why they remain loyal to a stock market that has done little to merit loyalty.
More than a decade has passed since the heady days of the commodity supercycle, when insatiable demand for resources vaulted the TSX to global prominence.
The Canadian market has been a disappointment ever since, left in the dust of a monumental bull market that took root in the fallout of the global financial crisis and was merely interrupted by the COVID-19 pandemic.
The Canadian benchmark index has now trailed the S&P 500 in eight of the past 10 calendar years, and is well on its way to extending that bleak trend this year. Over that time, U.S. returns have outpaced Canadian by a factor of more than 2.5 to 1.
That’s a lot of money left on the table for those who lean heavily on Canadian stocks for their retirement plans.
The Canadian market is minuscule on the…
