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Sharon Kubicek
Alisa Carli
Christine Duggan

1 First Canadian Place
40th Floor , P.O. Box 150
Toronto, ON
M5X 1H3


December 2018

Portfolio Management - Equity Strategy

The Virtue of Oligopolies



“In business, I look for economic castles protected by unbreachable ‘moats’.” -Warren Buffett

Despite recent choppy action in the market, we continue to think equities offer reasonable relative value in this market. The easing of trade tensions between China and the U.S. announced last weekend will provide some relief to investors which were getting (rightly) concerned about the deleterious impact of tariffs on global growth. Much work remains to be done but the immediate beneficiaries will be commodities, emerging markets and of course, Canada, assuming oil and base metal prices continue to rally. 

For further reading of this article written by Stéphane Rochon, CFA, Equity Strategist, please click here.

Do not hesitate to give either of us a call at 416 359-7565 or 416-359-7564 or email Sharon Kubicek or Alisa Carli if you have any questions respecting your portfolio and the prevailing investment, economic and political issues at play today.

Sharon and Alisa