powerofaccess

We are a team of wealth advisors for a select group of families, business owners and professionals, who are focused on building and leaving a lasting legacy.

[powerofaccess @PowerOfAccess]

@MPelletierCIO Stuff is worth whatever someone is willing to pay for it, not what folks think it's worth in their head.

[powerofaccess @PowerOfAccess]

@MPelletierCIO A couple in Canada come to mind...🤣

[Peter Mallouk @PeterMallouk]

Remember this the next time you find yourself in a turbulent market with bad news:
1. You are a long-term investor
2. Diversified portfolios are resilient
3. Down markets present opportunities
4. Corrections and bear markets have always given way to a recovery

[powerofaccess @PowerOfAccess]

Despite ‘prisoner’s dilemma,’ family-office investors remain patient with private credit - https://t.co/7eHy4lX3oj

[Steve Burns @SJosephBurns]

Economics 101:

Milton Friedman on 4 ways to spend money:

1). Your money on yourself (you’re careful about both cost and quality).

2). Your money on others (you care about cost, less about quality).

3). Someone else’s money on yourself (you care about quality, not cost).

4). Someone else’s money on others (you care about neither).

The last one is how government spending works.

[Riley Phillipson @R_Phillipson]

What's on our mind lately 👇

https://t.co/HTlvXI78Rz

[powerofaccess @PowerOfAccess]

Outlook 2026: In a fraught economy, family office CIOs are ‘fighting the urge to be sexy’ - https://t.co/BcS8dag8TG

[Desiree Fixler @desireefixler]

Canada’s living standards have sunk even lower than Britain’s — no small feat, and Mark Carney’s fingerprints are all over it.

[Riley Phillipson @R_Phillipson]

$BBU monetizing some underperforming assets by selling to retail investors at a much higher valuation from where BBU trades. Great outcome for BBU unitholders - not so sure about the retail investors. Y/y adj. EBITDA growth: CDK (-30%), DexCo (-23%) per Q1 filings. Probably nothing.

[powerofaccess @PowerOfAccess]

@stueykablooie @MPelletierCIO Read it nearly 15 years ago and couldn't put it down. Aside from an unapologetic take on Islam as an insidious ideology, Ali's life story is pretty compelling too.

[powerofaccess @PowerOfAccess]

@HedgingNapoleon @geswolfcrest @MPelletierCIO https://t.co/Z4YAhAk2zF

[Riley Phillipson @R_Phillipson]

Seeing a lot of misinformation on here about private credit, especially from retail advisors. Having worked directly in the private markets, I figured I’d share my two cents on what’s being pushed onto retail investors & advisors en masse:

[Riley Phillipson @R_Phillipson]

Seeing a lot of misinformation on here about private credit, especially from retail advisors. Having worked directly in the private markets, I figured I’d share my two cents on what’s being pushed onto retail investors & advisors en masse:

[Riley Phillipson @R_Phillipson]

$FSK Q2 wrap: one of the largest mid-market private lenders in the US... leverage up, asset quality down (non-accruals rising), weighted portfolio yield down, realized and unrealized losses up, and 30%+ of net inv. income is PIK (non-cash). Yet demand for private credit seems to be rising. What am I missing?

[Riley Phillipson @R_Phillipson]

The best investors, too.

[Riley Phillipson @R_Phillipson]

UBS has $CSU.TO's VMS market share at just ~15% today.

[Riley Phillipson @R_Phillipson]

$LOW now in the M&A arena for scaled distributors with recent bid for Foundation at 13.4x, following $HD recent deal with $GMS for around 11x. Will be interesting to see Brad Jacobs' next move and if it's a Conway-style pivot. $QXO

[Riley Phillipson @R_Phillipson]

Time to sharpen the pencils.

[Riley Phillipson @R_Phillipson]

$LULU is a great reminder that cheap is not a thesis, and social media has eroded the brand moat for almost every consumer-facing company.

[Riley Phillipson @R_Phillipson]

Disagree with the idea that margins will explode higher at $CSU.TO with AI replacing dev staff. A few of its top private competitors outsource dev work overseas and have for years. Most sellers hate it. Part of the value prop of selling to CSU is the promise to keep the team intact

[Riley Phillipson @R_Phillipson]

Tough market for many quality compounders lately. Quality will matter again eventually - as it always does