Canadian equities roundtable: More picks from the pros

Two banks with "very different" risk profiles, a railway that's on the right track for both value and growth managers, and more.

Sonita Horvitch 23 October, 2009 | 6:00PM
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Editor's note: Today we present the third and final instalment of this week's inaugural Encounter roundtable, moderated by our columnist Sonita Horvitch and devoted to Canadian equities. Our panellists: Ian Hardacre, vice-president of Invesco Trimark Ltd.; Ted Macklin, managing director at Guardian Capital LP; and Suzann Pennington, chief investment officer at Howson Tattersall Investment Counsel Ltd. Part one of our coverage focused on the implications of the strong market rebound in Canada, while part two turned to investment discipline and specific names. In today's instalment, the managers conclude their discussion of what they're buying or selling, and why.

Q: Let's discuss Canadian bank stocks.

Pennington: My approach in a number of sectors is to choose stocks within them that have substantially different characteristics. Bank stocks are a case in point. Toronto-Dominion Bank ( TD) and Canadian Imperial Bank of Commerce ( CM) have very different risk profiles and thus provide good diversification in the banking sector.

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Sonita Horvitch

Sonita Horvitch  

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