Media Room
Below you'll find the latest news & opinions from our team, as well as what what others are saying about us. You'll also want to check out our Viewpoint blog, currently written by fund manager Eric Dzuba.
Manager Q & A
Frank Mersch
Riding the Capital Spending Wave to Recovery
- How would you define the current investment environment?
- So what would it take to make a lot of money?
- What is your roadmap for investments in 2009/2010?
- Do you see new companies evolving out of this capital spending?
- Can you comment on the various sectors of the market?
- Do you have any advice for investment advisors?
- Some people refer to you as a resource manager. How would you respond to that?
- How do you make money back without taking excess risk?
- Can you comment on solvency?
- What is the bond market currently pricing into defaults?
- Front Street Diversified Income Fund: Eric Dzuba/Prakash Hariharan
- Front Street Capital
- Capital spending cycles
Eric Dzuba
Low Volatility Yield and Credit Strategy
- How did the portfolio hold up so well when when the market was plummeting?
- Do you agree that merger arbitrage will play a bigger part of your portfolio?
- What is your background?
- Where do you see opportunities unfolding in 2009 through 2010?
- What's the benefit to an investor owning your fund right now?
- What is your view on the bond market?
- How is the size of your fund benefit relative to your competitors who are multi-billion dollar funds?
- Why should clients buy the Diversified Income Fund?
Norm Lamarche
Resource Cycle Isn't Over Yet
- How is this resource downturn different from previous cycles?
- Where do you see the best opportunities unfolding in the resource group?
- What's your view on gold?
- The world has been calling for the U.S. dollar to crash. Do you see that happening? What would cause that to happen?
- Can you talk about mergers and acquisitions, and how you see them unfolding over the next 12 to 24 months?
- Can you explain stock market valuations versus the "real world"?
- You've been following this compressed natural gas story. Can you talk about that?
- Do you build your portfolios from themes of the top/down and build stocks from bottom up?
- How many stocks would you own in your portfolios?
- To what degree are you overweight in sectors?
- What are the differences between Front Street Growth Fund and Front Street Special Opportunities Fund?
Other video resources
- Norm Lamarche on BNN's InveStyle - 02.06.2009
- BNN's Linda Sims Interviews Prakash Hariharan on InveStyle - 07.05.2009
- Norm Lamarche Presentation - 10.06.2008
- BNN's Linda Sims Interviews Frank Mersch - 13.11.2008
- BNN's Pat Bolland Interviews Frank Mersch Again - 22.10.2008
- Frank Mersch interview with BNN's Pat Bolland - 26.09.2008
- Front Street Raises Over $39,000,000 From Closings Of Flow-Through Limited Partnership Units - 25.03.2009
- Front Street Performance Fund II Announces Completion Of Merger - 03.03.2009
- Front Street Raises Over $30,000,000 From The First Closing Of Flow-Through Limited Partnership Units Offering - 26.02.2009
- Front Street Performance Fund II Unitholders Approve Merger With Front Street Mutual Funds LImited - 12.02.2009
- Front Street Flow Through 2007-I Limited Partnership Rollover - 05.02.2009
- Front Street Flow-Through 2007-I Limited Partnership -- Rollover and Dissolution - 09.01.2009
- Front Street Capital to Further Streamline Funds - 05.12.2008
- Front Street to Streamline Funds – Successful Completion of Fund Mergers - 04.11.2008
- Results of Shareholder Meetings and Proposed Mergers - 23.10.2008
- Front Street to Streamline Funds - Funds to Merge - 18.08.2008
- Norm Lamarche On BNN's InveStyle - 02.06.2009
- BNN's Linda Sims Interviews Prakash Hariharan on InveStyle - 07.05.2009
- Twelve Wise Money Managers - 06.12.2008
- BNN's Linda Sims Interviews Frank Mersch - 13.11.2008
- BNN's Pat Bolland Interviews Frank Mersch Again - 22.10.2008
- Frank Mersch interview with BNN's Pat Bolland - 26.09.2008
- Globe & Mail: Frank Mersch 'weeks away' from calling market bottom - 26.09.2008
- FP Investing - Fund Watch - Front Street Canadian Hedge - 14.06.2008
- National Post – FP Investing: China to carry loonie past US$ Mersch says - 20.09.2007
- National Post: China to carry loonie past US$, Mersch says - 20.09.2007
- Morningstar: Investors have been well rewarded for the risks this manager takes - 26.04.2007
- MorningStar: Norm Lamarche - 13.04.2007
- National Post – FP Investing: Front Street follows capital investment - 24.07.2006
- MAR Hedge: Front Street Capital sells itself as the way to play northern resources boom - 22.05.2006
- Dow Jones Newswires: Larmarche Says Get Used to Price of Oil - 29.06.2005
- National Post – FP Investing: New funds offer way to short income trusts – Hedging the trust boom - 18.05.2005
- National Post – FP Investing: Shorting strategies cut risk in income products - 25.04.2005
- National Post Business Magazine Hedge Fund Supplement: Alternative investments attract mainstream investors - 01.02.2005
- National Post: Frank is doing what Frank does best - 28.06.2004
- Report on Business: Money manager's spotlight – Normand Lamarche - 01.03.2004
- Financial Post: Small Fund Produces Really Big Returns - 26.01.2004
- Dow Jones Newswires: Lamarche Long On The Economy - 16.01.2004
- Financial Post: Secrets of Canada's Top Fund Manager - 16.01.2004
- Report on Business: Is it 93' again for the junior oils? - 19.09.2003
- Canadian Investment Journal: Hitting Home Runs in the Oil Patch - 01.06.2003
- National Post: Royalty rush breeds new kind of juniors - 06.01.2003
- Report on Business: Management key in rise of small caps - 06.01.2003
- Financial Post: Front Street adds a few new wrinkles, Fund looks like a mutual fund but it can short stocks - 01.05.2002
- Edmonton Journal: Star from the past 'starting over small' - 13.02.2002
- Globe Investor: New Labour - 12.02.2002
- Edmonton Journal: New fund targets oil, gas properties, Tuscarora Fund will Invest in West - 07.02.2002
- Report on Business: Mersch's Front Street uncaps energy venture fund - 05.02.2002
- National Post – FP Investing: Mersch, Lamarche launch energy fund Labour sponsored - 05.02.2002

Front Street Canadian Hedge - Commentary
My oh my, two months in a row! How good does that feel? Although economic news is still grim, the market seems to have sufficiently discounted much of the bad news. It appears to be looking at things as half full versus half empty.
Norm Lamarche - Q1 2009 Commentary
The first quarter of 2009 is likely to go down in history as one of the more significant periods in our collective investing memory as investors grappled with the “recession versus depression” question. Many are wondering if we have reached the end of an investment era. The bulk of the last 25-30 years of investing occurred against the backdrop of the "Reagan/Thatcher" paradigm-free markets, with lower regulation and taxes.
Eric Dzuba - Q1 2009 Commentary
It was the worst of times, it was the best of times.
In terms of economic news flow, the best we could do was claim that it had become “less bad” by the end of the first quarter. To this end, equities started the quarter off strong in January. It then proceeded to fizzle out in February, when continued poor economic news accompanied a lack of direction from the U.S. government in terms of a plan to support that country’s banking system. In mid-March, one of the biggest monthly moves on the TSX in the last several years took hold.
Craig Porter - Q1 2009 Commentary
The year started off the same way that 2008 ended, as job losses continued to pile up and with daily announcements of bleak economic news. Global equity markets dropped a further 15-20%, adding to the losses of the previous year. In the auto sector, Chrysler and Ford were given deadlines to slash cost and sort out their balance sheets issues before they are forced into bankruptcy protection. Fears of the tens of thousands of jobs that could be lost sent investors running for the exits. Then as we entered March a more optimistic tone took over the market.
Frank Mersch - Q1 2009 Commentary
Finally, an up month.
After enduring month after month of bad news, the great recession of 2008 is probably passing its point of maximum strength, and a return to some form of economic stability appears to be in the cards for the second half of the year. We need the reflation trade to work. The biggest challenge going forward is whether policy makers can continue to foster growth with collective stimuli that will stem price deflation and maintain financial stability.
Front Street Canadian Hedge - Monthly Commentary
For the month of January, the markets surrendered much of their December return. The S&P 500 was off 8.43%, led by financials (-26.31%) and industrials (12.60%). For the TSX, we registered a 2.96% decline on the index, led by industrials (-7.77%).
Our funds faired somewhat better but still nothing great to write about. After a strong start we posted a -0.1% return for the month.