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Someone just spent $236,000,000 on a painting. Here’s why it matters for your wallet.
Late last year, a Klimt sold for the highest price ever paid for modern art at auction.
An outlier sure, but it wasn't a fluke. U.S. auction sales grew 23.1% in 2025. The $1-5mm segment even grew 40.8% YoY.
Meanwhile, Apollo’s chief economist Torsten Slok said to expect ‘zero in return in the S&P 500 over the coming decade.’
Each environment is unique, but after dot-com, post war and contemporary art grew about 24% annually for a decade. After 2008, about 11% for 12 years.
It’s also had near-zero correlation with the S&P 500 since ‘95.*
Now, Masterworks lets you invest in shares of artworks featuring legends like Banksy, Basquiat, and Picasso.
$1.3 billion invested across over 500 artworks.
28 sales to date.
Net annualized returns on sold works held 12 months+ like 14.6%, 17.6%, and 17.8%.
Shares can sell quickly, but my subscribers can skip the waitlist:
*Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.
Good morning, Edmonton.
What a week it has been, and Friday is not letting up. First Nations chiefs stood in Edmonton yesterday and told Premier Smith in plain language that the October referendum will not happen without a fight, and they are prepared to back that up. Meanwhile, Alberta is about to make your life a little simpler with a three-in-one ID card, farmers across the north are watching the rain with one eye and the calendar with the other, and if the clouds clear out tonight you may want to step outside and look straight up. There is a lot going on, and we are glad you are here for it.💛
Treaty 8 Chiefs Say Civil Disobedience Is on the Table If the Referendum Goes Forward
First Nations leaders gathered in Edmonton Thursday and told Premier Danielle Smith: proceed with the October 19 referendum without consent and face the consequences.
Treaty 8 Grand Chief Trevor Mercredi said First Nations will block industry and go out on the highways if necessary, calling the UCP government "lawless" for ignoring the court ruling that requires Indigenous consultation before the vote.
Manitoba Premier Wab Kinew publicly backed the chiefs, and Ottawa is being asked to reinforce the Clarity Act, which gives Parliament a role in any separation question.
With five treaty territories sitting inside Alberta's boundaries, this fight is not going away before October.
Your Driver's Licence, Health Card and Citizenship Proof Are About to Become One Card
Starting July 2, new Alberta driver's licences and ID cards will include your personal health number and a citizenship marker, replacing the paper health card everyone has been losing since 1970.
The new card comes at no extra cost but anyone getting one will pay the standard renewal fee, even if their old licence still has time left on it.
Bring your health card and proof of citizenship to the registry after July 2 and the swap is straightforward.
One card, three jobs done. It is about time.
Northern Alberta Farmers Are Racing the Calendar on a Very Wet Spring
Seeding across northern Alberta is behind schedule and growers have had to pause operations as wet weather drags into early June. The window to get crops in the ground is narrowing.
Farmers say the conditions have been relentless and time is genuinely running short for some operations north of Edmonton.
Every dry day matters now, and the forecast for the weekend is not exactly what they were hoping for.
If you grew up on a farm or know someone who did, you know what this kind of June feels like.
A Rare Full-Sky Aurora Could Light Up Alberta Tonight After the Clouds Clear
A strong geomagnetic storm is rolling toward Earth and forecasters say Alberta has a real shot at a rare full-sky display of the northern lights tonight, once the evening showers clear out near midnight.
The solar storm is strong enough to push the aurora well south of where it normally appears, meaning you do not need to drive north to catch it.
Find a dark spot away from streetlights after midnight and look north. If the clouds cooperate, it could be something worth staying up for.
Set an alarm. This one does not come around often.
Canada Just Unveiled Its National AI Strategy and Alberta's Energy Sector Is Front and Centre
PM Carney and AI Minister Evan Solomon released Canada's "AI for All" strategy Thursday, a sweeping 50-page plan targeting 90,000 new jobs and $200 billion in GDP growth through widespread AI adoption.
Energy and natural resources is one of five priority sectors, which puts Alberta right at the heart of this strategy whether the province is enthusiastic about it or not.
The plan includes large-scale data centres, a $500 million Business Development Bank fund for small businesses and new legislation against AI-powered surveillance pricing.
The NDP says there are no guardrails for workers. The Conservatives say the job numbers are not believable. Everyone agrees the conversation is just getting started.
China Is Using Job Sites to Target Canadians With Security Clearances. The Five Eyes Just Said So.
Canada and its intelligence partners issued a coordinated warning Thursday: China is running a spy recruitment operation through professional networking sites, targeting anyone with access to classified or sensitive government and military information.
The agencies say the tactics are aggressive and sophisticated, using fake job postings and recruiters to make initial contact.
CFB Edmonton is one of Canada's largest military installations. This warning is not abstract for this city.
If you work in defence, government or any security-adjacent field, this is worth reading.
The Last Time Stocks Were This Expensive Was December 1999.
"Right now, it's good. But it was in '72, '86, 2000, and 2007." - Jamie Dimon, May 2026.
The Shiller CAPE ratio just hit 42.3. The only time in 140 years it's been higher? December 1999.
Stocks can stay expensive for a long time...
It’s one metric to consider, but when your portfolio is built around the most expensive equities in modern history, what else you diversify with could really matter.
Blue-chip contemporary and post war art has shown near-zero correlation with the S&P since 1995.* Prices are largely driven by private collectors competing for a fixed supply of artwork by artists like Banksy, Basquiat, and Picasso.
Masterworks lets you invest in shares of that market.
$1.3B deployed across 500+ artworks
29 exits to date
Net annualized returns like 16.5%, 17.6%, and 17.8%, not including those unsold
*According to Masterworks data. Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.
The TSX Hit a New All-Time Record Thursday and Alberta Investors Had a Very Good Day
Canada's main stock index climbed more than 400 points Thursday to set a new record high, led by gains in the basic materials sector, a day after dropping sharply on Iran-related oil concerns.
Alberta's energy and materials companies are core components of the TSX, which means this record has a direct line to Albertans' pension plans, RRSPs and investment portfolios.
US markets were mixed on the day, with Wall Street weighing steady oil prices against ongoing uncertainty over whether the Iran ceasefire holds through the weekend.
Good news is not always complicated. Sometimes it just means the market had a better day than yesterday.
YOUR TURN 💌
Edmonton, a lot landed in today's issue.
Treaty chiefs are drawing a line. Your ID is changing. Farmers across the north are holding their breath. And tonight, if the skies clear after midnight, something rare might be overhead.
Kindly engage with our sponsors content by clicking and checking out what they’re about, as it helps us greatly. So, kindly check out all three sponsors in this issue, they are easy to spot as they are the only ones not within a purple frame. Can you spot them?
I love to hear from you, tell me which story hit you hardest today. I read every one.
$992 Billion in Art Could Change Hands. Why Are These 71,105 Investors Paying Close Attention?
Deloitte ran the numbers. They project UHNW art and collectibles wealth -- already at $2.5 trillion -- to hit $3.47 trillion by 2030.
The institutional world has been quietly preparing for this. Back in 2011, 25% of wealth managers surveyed offered art-related services. In 2024, 51%. Family offices now average a 13.4% allocation to art and collectibles.
And it’s not just because they love art. It’s because they like the math.
These positions were built over decades through private dealer relationships most investors never had. The access just wasn't there.
Masterworks is changing that by allowing individuals to invest in shares of blue-chip artwork by artists like Basquiat, Warhol, and Picasso. Their track record to-date:
71,000+ investors
$1.3B deployed across 525+ artworks
29 closed sales
Net annualized returns like 16.5%, 17.6%, and 17.8%, not including those unsold.
Investing involves risk. Past performance is not indicative of future returns. See important disclosures at masterworks.com/cd.
Edmonton local Weather
Day ⬇4° lower than historical avg, Night ⬇1° lower than historical avg.
🌤️ Edmonton Weather - Friday June 5th
Friday is bringing cloud cover and afternoon showers to Edmonton and surrounding areas, with a high of 17°C and a risk of thunderstorms near noon as northwest winds gust up to 40 km/h. Showers ease through the evening and skies begin to clear overnight, dropping to a low of 8°C, which means aurora chasers may want to stay up past midnight..
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📅 Events Happening This Week in Edmonton
Friday June 5th
🌸 Farmers’ Days Rodeo and Exhibition 🎟️ Details
🗓 June 5–7 · ⏰ All day · 📍 Heritage Park, Stony Plain
A big weekend festival with rodeo action, midway rides, and family activities.
🌸 UFest Edmonton Ukrainian Festival 🎟️ Details
🗓 June 5–6 · ⏰ Festival hours · 📍 Borden Park, Edmonton
A cultural festival celebrating Ukrainian heritage, food, music, and community.
🌸 The Comic Strippers 🎟️ Details
🗓 June 5 · ⏰ 7:30 PM · 📍 Festival Place, Sherwood Park
A comedy parody show in Sherwood Park.
🌸 Art on the Block 🎟️ Details
🗓 June 5 · ⏰ Evening · 📍 Art Gallery of Alberta, Edmonton
A major arts fundraiser and evening gala.
🌸 Beverly Towne Farmers’ Market 🎟️ Details
🗓 June 5 · ⏰ 3:00 PM–7:00 PM · 📍 Riverview Crossing Shopping Centre, Edmonton
A Thursday evening east Edmonton farmers’ market.
🌸 Southwest Edmonton Farmers’ Market 🎟️ Details
🗓 June 5 · ⏰ 3:30 PM–7:30 PM · 📍 Terwillegar Recreation Centre parking lot, Edmonton
A weekly Wednesday/Thursday-style seasonal market entry for the west end.
🌸 The Comic Strippers 🎟️ Details
🗓 June 5 · ⏰ 7:30 PM · 📍 Festival Place, Sherwood Park
A nearby comedy show if you want something east of Edmonton.
🌸 The Jaywalker’s Jamboree 🎟️ Details
🗓 June 5–7 · ⏰ All day · 📍 Camrose
A full weekend street festival with vendors, food, rides, and family fun.
Saturday June 6th
🌸 UFest Edmonton Ukrainian Festival 🎟️ Details
🗓 June 6 · ⏰ Festival hours · 📍 Borden Park, Edmonton
The festival continues with more programming.
🌸 Nextfest 🎟️ Details
🗓 June 6–9 · ⏰ All day · 📍 Sir Winston Churchill Square, Edmonton
A free multi-genre arts festival.
🌸 BeerFest Days 🎟️ Details
🗓 June 6–9 · ⏰ 11:00 AM–11:00 PM · 📍 Churchill Square, Edmonton
A downtown summer festival with food, drinks, and entertainment.
🌸 Give a Breath 5K 🎟️ Details
🗓 June 6 · ⏰ Morning · 📍 Whitemud Park, Edmonton
A charity 5K run and walk.
🌸 Leduc Black Gold Pro Rodeo & Fair 🎟️ Details
🗓 June 6–7 · ⏰ All day · 📍 Leduc
A regional fair and rodeo weekend south of Edmonton.
🌸 Beverly Towne Farmers’ Market 🎟️ Details
🗓 June 6 · ⏰ Not open Fridays
I’m leaving it out of the live Friday market list.
STORY CORNER 📖
The Jar on the Step
Nobody in Beaumont knows exactly when Sharon started leaving the jars out.
Her neighbours noticed them sometime in the spring of 2019. A mason jar of strawberry jam on a Tuesday morning. A small pot of chokecherry jelly a few weeks later. No note. No name. Just a jar with a piece of twine tied around the lid.
Sharon has lived on the same street for 31 years. She picked up canning from her grandmother in Innisfail, who learned it from hers. Every June when the strawberries come in, Sharon makes more than she could ever eat and starts working her way down the street.
She does not knock. She does not ask. She just leaves a jar where she knows someone will find it.
The first time her next-door neighbour Michelle found one, she assumed it was a mistake. The second time, she left a thank-you note in Sharon's mailbox. Sharon never wrote back.
That is the whole point.
Not everything that holds a community together is loud. Sometimes it is a jar on a step and the small, stubborn belief that your neighbour is worth a Tuesday morning and a little bit of sugar.
Happy Friday, Edmonton. Go find something worth sharing today.