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
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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 Corp134.49 USD1.69Rating
Assured Guaranty Ltd47.64 USD-1.98
Birchcliff Energy Ltd3.36 CAD-2.89
Citigroup Inc75.13 USD0.07Rating
CSX Corp103.16 USD0.03Rating
Home Capital Group Inc34.22 CAD-0.44
Labrador Iron Ore Royalty Corp44.67 CAD4.08
OceanaGold Corp2.55 CAD0.79
Paramount Resources Ltd A12.89 CAD-3.23
Rogers Communications Inc Class B62.08 CAD0.71Rating
Stelco Holdings Inc37.40 CAD0.08
TC Energy Corp61.95 CAD0.02Rating
TC Energy Corp51.19 USD0.47Rating
Whirlpool Corp251.80 USD-0.45

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Jade Hemeon

Jade Hemeon  

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