Value manager looks beyond the headwinds

"A lot of negativity" is already priced into Canadian stocks, Daniel Bubis says.

Sonita Horvitch 30 March, 2016 | 5:00PM
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Daniel Bubis, president and CEO of Winnipeg-based Tetrem Capital Management Ltd., says that he and his team are treading carefully in the Canadian equity market.

"It has recovered from its dismal showing in January and still offers compelling value by historic standards, but there are headwinds." The "commodity-price bust" has dealt a hefty blow to the Canadian equity market and the Canadian economy, says Bubis.

"The all-important Canadian energy sector has been hit hard." Although the fundamentals for oil have recently improved, there is still an oversupply in the global market, say Bubis. "This means that the recovery in the oil price is likely to be gradual."

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Air Canada Class B23.07 CAD0.57Rating
Bank of Nova Scotia79.69 CAD0.78Rating
Canadian National Railway Co151.67 CAD0.78Rating
Canadian Natural Resources Ltd52.43 CAD1.88
Crescent Point Energy Corp6.28 CAD-0.95
Enbridge Inc52.72 CAD0.08Rating
Loblaw Companies Ltd92.16 CAD0.95Rating
Suncor Energy Inc29.11 CAD0.03
TC Energy Corp66.39 CAD2.14Rating
Tourmaline Oil Corp44.16 CAD-1.16

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Sonita Horvitch

Sonita Horvitch  

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