Late-stage global cycle favours Canada, value manager says

David Taylor expects rising commodity prices to boost resources stocks.

Jade Hemeon 8 March, 2018 | 6:00PM

David Taylor, president and chief investment officer at Taylor Asset Management Inc. in Toronto, is a committed value investor who says he will never deviate from his signature style of seeking attractive companies selling at bargain prices.

Finding value before it's spotted by the crowd requires dedication and patience. Although global stock markets have been shaken by growing volatility in 2018 after several years of steadily rising values, the true value investor faces a tough challenge ferreting out undiscovered opportunities.

"If something represents significant value and hasn't participated in the bull market, there's likely something wrong with it," Taylor says. "If you stay true to a value style, when it's late in the cycle, the potential opportunities shrink and the quality of those opportunities declines."

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Allstate Corp92.76 USD0.45
Assured Guaranty Ltd20.04 USD3.59
Birchcliff Energy Ltd1.67 CAD-0.30
Citigroup Inc43.13 USD-0.37
CSX Corp78.25 USD0.41
Home Capital Group Inc21.74 CAD0.79
Labrador Iron Ore Royalty Corp25.90 CAD-2.12
OceanaGold Corp2.29 CAD-7.66
Paramount Resources Ltd A2.35 CAD2.62
Rogers Communications Inc Class B51.72 CAD-0.29
Stelco Holdings Inc10.71 CAD-0.19
TC Energy Corp60.58 CAD-0.98
TC Energy Corp45.37 USD-1.50
Whirlpool Corp179.52 USD-0.10

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Jade Hemeon

Jade Hemeon  

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