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What's your vintage year?

When did you become an EdgePoint partner? Select your "Partner since" year and uncover a piece of EdgePoint history.

Let's take a walk down memory lane as we recall the major events and fun facts from your vintage year.

I've been a Partner since...

Although discovered in 2019, COVID-19 goes global in 2020 and affects almost every facet of life. Regional lockdowns create a global shift to working from home in many sectors and transform parents into part-time teachers. The rise in cases forces travel reductions, while the constant influx of news turns toilet paper into an incredibly scarce commodity. Economies, both at the national and local level, struggle to adapt.

Kobe Bryant’s death, protests around the world, wildfires and an election unlike any other all contribute more negative news and headlines to an already eventful year.

Joe Biden is elected the 46th President of the United States.

Several COVID-19 vaccines announced near the end of the year bring hope of recovery. 

Unparalleled panic and uncertainty stemming from the unknowns around COVID-19 cause one of the sharpest declines in the stock markets…

…clocking in at only 33 days. It was the shortest bear market in S&P 500 Index history.i

Oil prices go negative for the first time in history.ii

Central banks slash interest rates to all-time lows and negative territory.

Amid the uncertainty, investors flock to businesses poised to thrive in a pandemic-induced lockdown environment, leading to an extremely bifurcated market:

1) in-favour businesses where no price seems too high for investors, and
2) out-of-favour businesses that can’t attract investors at any price.

A handful of tech stocks and mega caps largely carry the market in 2020, resulting in some of the highest concentrations in top names across major indexes since the bubble of 2000.

Tesla, Inc., despite selling fewer than 500,000 cars,iii becomes the world’s most valuable car manufacturer and joins the S&P 500.iv

 In order to help our partners and investors navigate this challenging environment and avoid making decisions based on short-term emotions, we commit to providing open, honest and timely communication at a greater frequency than ever before. We hold Investment team webinars, host numerous video conferences with our advisor partners, produce investor-friendly videos and print materials, as well as have many one-on-one advisor calls.

Choosing not to be exposed to businesses that everyone wants to own was the primary driver for the Portfolios' underperformance against their benchmarks. We believe that sometimes you need to be willing to look wrong in the short term in order to be right in the long term.

As in previous times of uncertainty, we remain committed to our investment approach.

Note: In each year there were macroeconomic events that weighed heavily on the minds of our investors. Here’s what we believe: when you know the value of the businesses you own, none of this “noise” really matters – except for the increased volatility that results from these events, which we believe has allowed us to build future wealth into our Portfolios.


iSource: Ahmed, Saqib Iqbal & Randewich, Noel. "Say goodbye to the shortest bear market in S&P 500 history," Reuters.com, August 18, 2020. https://www.reuters.com/article/us-usa-stocks-s-p500-bear-graphic-idUSKCN25E2R9. Bear markets occur when the stock market declines by at least 20% from peak to trough.

iiSource: "US oil prices turn negative as demand dries up," BBC.com, April 20, 2020. https://www.bbc.com/news/business-52350082. Oil price is the per barrel price of West Texas Intermediate (WTI), a crude oil grade used as a benchmark for oil pricing.

iiiSource: Tesla, “Tesla Q4 2020 Vehicle Production,” Tesla.com, January 2, 2021. https://ir.tesla.com/press-release/tesla-q4-2020-vehicle-production-deliveries.

ivSource: Wayland, Michael. “Tesla’s market cap tops the 9 largest automakers combined — Experts disagree about if that can last,” CNBC.com, December 14, 2020. https://www.cnbc.com/2020/12/14/tesla-valuation-more-than-nine-largest-carmakers-combined-why.html.