Large-cap picks for turbulent times

Guardian Capital's Ted Macklin favours companies with financial ballast.

Sonita Horvitch 21 December, 2011 | 7:00PM
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 Ted Macklin, managing director of Toronto-based Guardian Capital LP, has been taking advantage of the volatility in the equity market to boost exposure to Canadian resource stocks in the big-cap Canadian equity portfolios he manages.

"I have been adding to these stocks on weakness." His premise is that the U.S. economy will remain in positive territory and that emerging-markets demand for commodities will continue to be robust, despite a slowdown in these high-growth economies.

But the risks to the Canadian and global equity markets remain, says Macklin. At the top of the list is the sovereign-debt problem in Europe and its adverse impact on the European banking system. "It's all about the European banks," says Macklin. The good news for Canada, he says, is that the Canadian banks don't have much direct exposure to these troubled European sovereign borrowers.

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Sonita Horvitch

Sonita Horvitch  

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