Canada’s junior stock exchange continues to plumb new depths that would have seemed unimaginable even a few years ago.
The S&P/TSX Venture Composite Index sunk below 500 points for the first time on Monday, hitting a record low of 495.14 before closing at 496.18. To put it in context, the Venture is down 29 per cent since the start of the year, and a staggering 85 per cent since its peak in 2007.
What may be most distressing is the way it has dropped. Since mid-2011, the index has been in a slow and relentless downward trend as investors have gradually capitulated and moved their money elsewhere. There was never any sign that a recovery was imminent. By comparison, the index fell much harder and faster during the financial crisis in 2008, but it bounced back rapidly the following year.
Peter Koven – Financial Post – December 14, 2015.
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