Skip to content
News & commentary

MACROSCOPE No.39: Silver lining in the gradual erosion of TSX’s “Big Three” sectors

Home News & Commentary MACROSCOPE No.39: Silver lining in the gradual erosion of TSX’s “Big Three” sectors
Elvis Picardo

Elvis Picardo

Back in 1930, Canadian economist Harold Innis used the Biblical phrase “hewers of wood and drawers of water” to describe the Canadian economy’s traditional economic dependence on resource production. That skewed impression of the Canadian economy lingers to this day, despite the services sector employing more than 80% of working Canadians, while less than 20% are employed in goods production. Click here to read the rest of Macroscope 39.


This information has been prepared by Luft Financial. Opinions expressed in this article are those of Luft Financial only and do not necessarily reflect those of HollisWealth®. Furthermore, this does not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors.

How do we elevate your wealth?

It begins with understanding your needs and creating a comprehensive and tailored financial plan to help reduce tax, manage risk and grow your portfolio over the long term. Learn more about how we help you achieve financial security and peace of mind.

News & commentary

January 2021 Portfolio Management Team Update

Market & Economic Environment Global equities added to their record November gains last month, to cap a strong quarter and end one of the most volatile years in memory on a positive note. As the rollout of vaccines to combat Covid-19 commenced in December, optimism that economies would gradually return to normal helped prop up […]

Read more
Insuring yourself to the “Bones”

RRSPs and Your Estate

Most people are aware that they are able to roll their RRSP/RIF to a spouse, common-law partner or financially dependent child or grandchild with a mental or physical disability. What some people don’t always understand, is what happens to the RRSP/RIF if it is being left to anybody other than a spouse, common-law partner or […]

Read more

December 2020 Portfolio Management Team Update

Market & Economic Environment Global equities posted their best-ever monthly gains in November, with the MSCI All-Country World index up by a record 11.3%. Risk appetite rebounded as positive news about three vaccines’ efficacy in preventing Covid-19 (greater than 90% in the case of the Pfizer-BioNTech and Moderna vaccines) triggered a massive rotation into stocks […]

Read more