MEETINGDATES
DATASUPPLIEDBYISSUINGCOMPANIESTHROUGHTHESERVICEOFCDSCLEARINGANDDEPOSITORYSERVICESINC.
*=CHANGEINPREVIOUSLYREPORTEDINFORMATION%=CANCELLEDMEETING;@=ADJOURNEDMEETING;A=ANNUAL;S=SPECIAL;G=GENERAL;X=EXTRA;E=EXTRAORDINARY
Aguia Resources Limited Oct 28 Nov 29 A
Altiplano Metals Inc. Nov 08 Dec 13 AG
Angel Gold Corp. Nov 07 Dec 13 AG
Arrow Exploration Corp. Oct 28 Dec 04 AGS
Arrowstar Resources Ltd. Oct 21 Nov 22 AGS
Auralite Investments Inc. *Dec 02 Jan 23 AGS
Aurelius Minerals Inc Oct 28 Nov 29 AG
Benchmark Metals Inc. Nov 08 Dec 13 AG
Black Tusk Resources Inc. Oct 29 Dec 03 AG
Boardwalktech Software Corp. Oct 30 Dec 04 AGS
Bold Ventures Inc. Nov 05 Dec 18 AS
Canada House Wellness Grp Inc. Nov 05 Dec 10 AS
CanadaBis Capital Inc. Nov 05 Dec 11 AS
Candelaria Mining Corp. Nov 06 Dec 13 AG
Cannalncome Fund Corporation Oct 28 Nov 27 AGS
Cascadero Copper Corporation Nov 06 Dec 11 AGS
Clydesdale Resources Inc. Nov 12 Dec 18 A
Colonial Coal Int’l Corp. Nov 12 Dec 20 AG
CAT Strategic Metals Corp. Nov 12 Dec 17 AG
Discovery-Corp Enterprises Inc *Oct 30 Dec 04 AS
Dmg Blockchain Solutions Inc Oct 25 Nov 26 AGS
East Asia Minerals Corporation Oct 23 Dec 05 AGS
East West Petroleum Corp. Nov 05 Dec 12 AG
Emerald Bay Energy Inc. Nov 07 Dec 12 AS
Explor Resources Inc. Nov 06 Dec 11 AS
EXMCeuticals Inc. *Oct 15 Dec 03 AG
Fabled Copper Corp. Nov 13 Dec 17 AG
Firebird Resources Inc. Nov 12 Dec 18 A
Fission 3.0 Corp. Nov 04 Dec 12 AG
FogChain Corp. Oct 22 Nov 28 AS
Four Nines Gold Inc. Nov 04 Dec 09 AG
Full Metal Minerals Ltd. Nov 04 Dec 10 AG
Galileo Exploration Ltd. Nov 08 Dec 13 AG
Graphene 3D Lab Inc. Nov 07 Dec 12 AG
Great Bear Resources Ltd Nov 06 Dec 11 AG
Green Growth Brands Inc. Nov 08 Dec 10 AG
Gunpoint Exploration Ltd Nov 06 Dec 11 AG
Halio Energy Inc. Nov 08 Dec 13 AGHive Blockchain Technologies Nov 06 Dec 18 AG
Identillect Technologies Corp. Oct 30 Dec 04 AGS
Imagin Medical Inc. Nov 05 Dec 17 AG
Inca One Gold Corp. Nov 05 Dec 17 AG
Intigold Mines Ltd Nov 07 Dec 19 AG
Intl. Samuel Exploration Corp Nov 06 Dec 20 AG
IBC Advanced Alloys Corp. Nov 07 Dec 20 AG
Jackpot Digital Inc. Nov 05 Dec 18 AG
Liberty Leaf Holdings Ltd. Nov 14 Dec 19 AG
LiCo Energy Metals Inc. Nov 05 Dec 10 AG
Lucky Minerals Inc. Nov 12 Dec 17 AG
Madalena Energy Inc Oct 23 Nov 22 AS
Marksmen Energy Inc Nov 06 Dec 11 AS
Metalex Ventures Ltd. Oct 25 Nov 29 AG
Mexican Gold Corp. Nov 13 Dec 18 AS
Minaurum Gold Inc Nov 08 Dec 16 A
Monster Uranium Corp. Nov 12 Dec 18 A
Monument Mining Limited Nov 06 Dec 16 AG
Nevada Energy Metals Inc. Nov 05 Dec 10 AGNew Oroperu Resources Inc. *Nov 01 Dec 11 AG
Noble Mineral Exploration Inc. Oct 28 Nov 29 S
North Bud Farms Inc. Nov 01 Dec 05 AGS
Nuran Wireless Inc. Nov 05 Dec 10 AGS
Organimax Nutrient Corp Nov 08 Dec 13 AGS
Oronova Energy Inc. Nov 08 Dec 19 AG
Osprey Gold Development Ltd Nov 08 Dec 17 AG
Petrodorado Energy Ltd Oct 29 Dec 09 AGS
Petrofrontier Corp Nov 05 Dec 10 AGS
Playfair Mining Ltd. Nov 07 Dec 17 AGS
Ponderous Panda Capital Corp. Nov 13 Dec 17 AG
Poplar Creek Resources Inc. Nov 08 Dec 16 AS
Prime Mining Corp. Nov 06 Dec 11 AGS
Pure Nickel Inc. Nov 06 Dec 11 AGS
Rare Element Resources Ltd. Nov 04 Dec 18 AG
Revive Therapeutics Ltd. Nov 05 Dec 18 AGS
Roughrider Exploration Limited Nov 12 Dec 17 AG
RYU Apparel Inc. Nov 01 Dec 10 AGS
Sailfish Royalty Corp. Oct 30 Dec 04 AGSceptre Ventures Inc. Nov 14 Dec 19 AG
Shooting Star Acquisition Corp Dec 11 Jan 15 AS
Southern Arc Minerals Inc. Nov 05 Dec 12 AG
Surge Exploration Inc. Nov 05 Dec 10 AG
Syd Financial Inc. Nov 22 Dec 31 AS
TerraX Minerals Inc. Nov 08 Dec 17 AGS
Thor Explorations Ltd. Nov 05 Dec 13 AG
Trigon Metals Inc *Sep 30 Nov 18 AS
Troilus Gold Corp Nov 08 Dec 16 AS
Ucore Rare Metals Inc. Nov 08 Dec 13 AGS
Valdy Investments Ld. Nov 13 Dec 20 AGS
Valterra Resource Corporation Oct 18 Nov 26 AG
Vanadian Energy Corp. Nov 12 Dec 18 AG
Vendetta Mining Corp Nov 05 Dec 17 A
Veritas Pharma Inc. Oct 23 Nov 27 AG
Von Capital Corp. Nov 07 Dec 19 AG
48North Cannabis Corp. Nov 07 Dec 17 AGS
92 Resources Corp Nov 06 Dec 16 AGRECORD MEETING TYPE
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DATE DATEB8 OTHEGLOBEANDMAIL | MONDAY,OCTOBER21,2019
GLOBEINVESTOR
| REPORTONBUSINESSMONDAYJapan trade surplus and all-
industry activity index.
Germany producer price in-
dex.
Also: Canada’s federal elec-
tion.
Earnings include: Celanese
Corp.; Halliburton Co.; Newcrest
Mining Ltd.; Southern Copper
Corp.; West Fraser Timber Co.
Ltd.TUESDAYJapan markets closed.
Canadian retail sales for Au-
gust. Estimate is a rise of 0.3 per
cent from July.
U.S. existing home sales. The
Street expects an annualized rate
decline of 0.7 per cent.
Bank of Canadian Business
Outlook Survey and Senior Loan
Officer Survey.
Earnings include:Biogen Inc.;
Canadian National Railway Co.;
Chipotle Mexican Grill Inc.; Dis-
cover Financial Services; Hasbro
Inc.; Kimberly-Clark Corp.; Lock-
heed Martin Corp.; Nextera Ener-
gy Inc.; Procter & Gamble Co.;
Sherwin-Williams Co.; Snap Inc.;
Texas Instruments Inc.; The
Travelers Companies Inc.; United
Parcel Service Inc.; United Tech-
nologies Corp.WEDNESDAYJapan department-store
sales.
Euro zone consumer confi-
dence.
Canada’s wholesale trade for
August. Estimate is unchanged
from July.
U.S. FHFA House Price Index
for August. The Street expects a
rise of 0.4 per cent from July and
4.8 per cent year-over-year.
Earnings include:AT&T Inc.; Ag-
nico Eagle Mines Ltd.; Anthem
Inc.; Boeing Co.; Canadian Pacific
Railway Ltd.; Canfor Corp.; Can-
for Pulp Products Inc.; Centamin
PLC; Constellation Software Inc.;
DTE Energy Co.; Daimler AG; Ed-
wards Lifesciences Corp.; First-
Service Corp.; Ford Motor Co.;
Freeport-McMoran Copper &
Gold Inc.; Green Growth Brands
Inc.; Hilton Worldwide Holdings
Inc.; Lam Research Corp.; Lundin
Mining Corp.THURSDAYJapan and Euro PMI.
ECB monetary policy meet-
ing.
U.S. initial jobless claims for
week of Oct. 19. Estimate is
215,000, up 1,000 from the previ-
ous week.
U.S. durable goods orders for
September. The Street expects a
decline of 0.6 per cent from Au-
gust.
U.S. Markit Manufacturing
PMI.
U.S. new home sales for Sep-
tember. Consensus is an annual-
ized rate decline of 1.2 per cent.
Earnings include:3M Co.; Aflac
Inc.; Altria Group; Amazon.com
Inc.; Atrium Mortgage Invest-
ment Corp.; Capital One Finan-
cial Corp.; Celestica Inc.; Com-
cast Corp.; Dow Inc.; Expedia
Inc.; Gilead Sciences Inc.; Her-
shey Co.; Hexo Corp.; Husky En-
ergy Inc.; Illumina Inc.; Intel
Corp.; Mercer International Inc.FRIDAYJapan machine tool orders.
Germany consumer and busi-
ness climate.
U.S. University of Michigan
Consumer Sentiment Index for
October. Consensus is 96, up
from 93.2 in September.
Earnings include:Charter Com-
munications Inc.; Domtar Corp.;
Illinois Tool Works Inc.; Phillips
66; Shaw Communications Inc.;
Verizon Communications Inc.WHATYOUNEEDTOKNOW
FORTHEWEEKAHEADT
echnology companies, which
make up the largest swath of the
U.S. stock market, are expected to
post a nearly 8-per-cent drop in
third-quarter profits as reports roll in next
week from many of the sector’s biggest
corporations.
But below the surface, the estimates re-
veal a wide range among the companies
that comprise the S&P 500 information
technology sector, which includesApple
Inc.,Microsoft Corp.as well as communi-
cations equipment, hardware and IT ser-
vices companies.
The overall sector’s earnings perform-
ance is being dragged down by semicon-
ductors, which are expected to post a near-
ly 27-per-cent plunge in quarterly profits,
according to IBES data from Refinitiv, as
analysts point to impact from the U.S.-Chi-
na tariff conflict and generally weak de-
mand.
Growing business IT spending contin-
ues to support other pockets of tech, ac-
cording to investors. Software companies
are poised for a nearly 11-per-cent gain in
profits from a year ago, according to the
IBES data from Refinitiv.
“You may have two dynamics going on
in tech in the opposite direction,” said
John Augustine, chief investment officer
at Huntington National Bank in Colum-
bus, Ohio. “Can software live up to the
numbers and will semis beat the num-
bers?”
Among software companies, Microsoft,
the largest U.S. company by market value,
reports results on Wednesday, while earn-
ings are also due next week from semicon-
ductor stalwarts Intel Corp. and Texas In-
struments Inc.
Other tech earnings next week include
payment processors PayPal Holdings Inc.
and Visa Inc., with iPhone maker Apple,
whose results ripple through its supply
chain, expected to post a 2.7-per-cent drop
in earnings when it reports the following
week.
One of the early reporters,Internation-
al Business Machines Corp., kicked off the
season on a sour note on Wednesday, with
quarterly revenue that missed estimates.
Even with the disparate forecasts for the
third-quarter company results, tech stocks
are outshining the market broadly in 2019.
The S&P 500 tech sector, which com-
prises more than one-fifth of the bench-
mark index, has climbed more than 30 per
cent in 2019, compared with a 19-per-cent
rise for the S&P 500.
Federal Reserve easing of interest rates
has helped the performance, which comes
despite uncertainty about the health of
the global economy and about U.S.-China
trade tensions.
Tech is “the primary growth engine of
the economy,” said David Joy, chief market
strategist at Ameriprise Financial in Bos-
ton. “China is an issue for them, but at the
same time they continue to grow and they
continue to innovate,” Mr. Joy said. “You
have to have exposure in technology. We
just think as you look around at the mar-
ket landscape, it’s one of the better places
to be right now.”
The tech sector’s strength is broad-
based, including gains so far this year of
about 30 per cent or more from the four
biggest industry groups by market value
within the tech sector: software, IT servic-
es, hardware, storage and peripherals, andsemiconductors.
“The IT budget continues to garner
more dollars from the general budget of
Corporate America,” said Michael Seiden-
berg, portfolio manager for the global
technology team at Allianz Global Inves-
tors. “There will be winners and losers
within the sector, but I think generally
speaking that is a trend that has persisted.”
Of U.S. corporations, semiconductor
makers are seen as among the most affect-
ed by the U.S.-China trade tensions, which
have triggered big swings in their shares.
But the stocks still have prospered: The
Philadelphia SE Semiconductor Index has
climbed nearly 40 per cent this year to all-
time highs, while three chip stocks – KLA
Corp., Lam Research Corp. and Advanced
Micro Devices Inc. – are the tech sector’s
biggest 2019 gainers.
Despite the steep decline in third-quar-
ter profits projected for S&P 500 semicon-
ductor companies, analysts are optimistic
there will be improvement soon, with
semiconductors expected to post an 11-
per-cent rise in 2020 earnings, according to
Refinitiv data. “To me, there’s a huge dis-
connect between the performance of
these names and the underlying funda-
mentals,” said Daniel Morgan, senior port-
folio manager at Synovus Trust in Atlanta.REUTERSDisparateresultsexpectedin
techsector’sthird-quarterreports
Industry’soverallperformance
isbeingdraggeddownby
semiconductors,butgrowing
businessITspendingsupports
otherareasoftechnology
LEWISKRAUSKOPFNEWYORK
AnemployeeworksatNasdaqMarketSiteinNewYork.Analystsestimateawiderangeof
third-quarterresultsamongthecompaniescomprisingtheS&P500technologysector.
RICHARDDREW/ASSOCIATEDPRESSW
e know Mark Twain as the
19th-century humourist who
authoredThe Adventures of
Tom Sawyerand other classics
in American literature. Less well known
are his financial speculations, which
didn’t go well. They culminated in a bank-
ruptcy that left his family in dire circum-
stances – until he staged a remarkable
comeback in his 60s.
His financial adventures stand as a cau-
tionary tale on risk-taking. The high anx-
iety and sleepless nights he experienced
could have been minimized with a diver-
sified portfolio, periodically rebalanced
back to a target asset allocation.
Born in 1835, Samuel Clemens (Mark
Twain’s real name) became a wealthy
man by his late 30s, owing to his highly
popular articles, novels and speaking
tours. But he was not content to be just a
Shakespeare. He wanted to also be an Edi-
son or Rockefeller.
In the 19th century, the yardstick for
measuring success was wealth – and the
more the better. This encouraged big
gambles. Investors back then didn’t seem
to dwell very much on the regret they
would feel if their capital took a big hit.
In the 1870s and 1880s, Clemens invest-
ed in private ventures. The projects in-
cluded an elastic band for holding up
pants, a scrapbook with a glue compound
on its pages for keeping clippings in place
and a trivia game for children. Only the
scrapbook made money.
He also invested in early stage compa-
nies, including a friend’s insurance com-
pany, Fredonia Watch Co., the Paige type-
setting machine and a publishing firm
run by his nephew. Many were swindles or
operated by people in over their heads.
There is also the matter of asset alloca-
tion. Mr. Clemens had a talent for writing,
and it was spinning off a growing, bond-
like stream of royalty income. Shifting so
much of his focus to aggressive equity in-
vestments effectively rebalanced his fi-
nancial and human capital toward higher
risk levels.
It was the publishing company that fi-
nally brought on bankruptcy. Because of a
huge multivolume book project, it was
saddled with a persistent cash-flow def-
icit, which Clemens at first stemmed with
his own capital and then with loans from
relatives and associates.
The money drain became untenable
when a financial crisis erupted and
plunged the United States into an eco-
nomic depression. The bank pulled the
plug in 1894 by refusing to renew its loans.
Fortunately, Clemens had met Henry H.
Rogers a few months before. He was an
admirer and kindred spirit who also hap-pened to be a wealthy financier and se-
nior officer in the Standard Oil conglom-
erate.
Rogers helped arrange a favourable
agreement with the creditors. The terms
included paying down a portion of the
debt through asset sales. Plus, Clemens
promised to pay off the remaining debt
out of future income.
So, late in life, he returned to writing
books full-time and going on a world
speaking tour – performing 122 shows in
71 cities. The debt was paid down in about
four years. Afterward, the royalties flowed
directly into his bank account, making his
family affluent again.
This time, Clemens placed his surplus
income in a diversified portfolio of blue-
chip companies with monopoly powers –
many of which Rogers was involved in or
had recommended. Clemens wanted to al-
so load up on some moonshots, but Rog-
ers adroitly persuaded him otherwise, for
the most part.
Clemens’s story demonstrates that it is
easy to get caught up in the prevailing
mood of the times. Risk appetites tend to
fluctuate with the state of the stock mar-
ket and economy, and can lead to an inap-
propriate diversification and asset alloca-
tion for one’s peace of mind and long-
term financial interest. Self-discipline, an
astute friend or trusted adviser can keep
risk and asset allocations in check.Special to The Globe and MailMarkTwain’sfinancialjourneyisacautionary
taleonrisk-takingthatallinvestorsshouldheed
LARRYMACDONALD
OPINIONMEANDMYMONEY