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MARKETS

Gavin Graham

Contributing Editor,

The Income Investor

  • Host of In-Depth Investing Podcast
  • Appears Frequently in The Globe and Mail and National Post
  • President of Graham Investment Strategy

About Gavin

With over 40 years of domestic and international financial experience, Gavin Graham is a highly sought-after market pundit and prognosticator. His wealth of global experience has been garnered through roles in London, Hong Kong, San Francisco, and Toronto including those of senior fund manager, Thornton Management; chief investment officer, Citigroup Investment Management (Asia); and chief investment officer, Guardian Group of Funds. Mr. Graham is a contributing editor of The Income Investor, host of the Gavin Graham Show podcast, and regular commentator in the financial media. Originally hailing from the UK, he is a graduate of Magdalen College at the University of Oxford and a Trustee of the Investment Committee of the Royal Medical Foundation (UK).

Gavin's Articles

Chevron (CVX) is the second largest private oil and gas company in the US and the third largest by market cap in the world after ExxonMobil (XOM) and Saudi giant Aramco, notes Gavin Graham, editor of Internet Wealth Builder.
Franco-Nevada (FNV) is the largest and longest established of the precious metal and oil and gas royalty and streaming companies, with a market cap of almost $38 billion, explains Gavin Graham, a contributing editor to Internet Wealth Builder.
Pason Systems Inc. (Toronto: PSI) is a Calgary based oil services company, which provides specialized data management systems for the oil drilling industry, explains Gavin Graham, contributing editor to Internet Wealth Builder.
Agnico Eagle Mines (AEM) is the largest listed Canadian gold producer; it produced 2.33 million oz. of gold in the nine months to 30th September, 2022 following the takeover of Kirkland Lake Gold in February 2022, observes Gavin Graham, contributing editor to Internet Wealth Builder.

Gavin's Videos

The North American equity markets at present closely resemble the patterns established during the 2000-02 bear market in the aftermath of the Internet bubble. In both cases an extremely expensive market has been badly affected by sharply rising interest rates leading to an initial bear market as price/earnings multiples contracted, as happened last year. Now an inverted yield curve is forecasting a recession, which means earnings are likely to fall leading to a second leg down, meaning investors should focus on defensive sectors with reasonable valuations.


While many commentators are asserting that the coronavirus pandemic has changed everything, and that the trends which characterized most of 2020 will continue in 2021, the situation appears most similar to the end of the technology bubble in 1999-2000. Then too, confident assertions were made that Its different this time, that valuations were irrelevant, and that old economy stocks and sectors such as energy, industrials, materials, and financials were permanently dead and buried. Events proved this view to be mistaken, and the Noughties decade saw out-performance of value against growth and old economy against technology and new wave stocks. Reversion to the mean is one of the most fundamental of investment doctrines. One suspects it will prove itself to be so again this year and for the foreseeable future.


Newsletter Contributions

Internet Building Wealth

Gavin Graham is a contributing editor for Internet Wealth Builder.

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