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 Corp92.11 USD4.13
Assured Guaranty Ltd28.20 USD9.54
Birchcliff Energy Ltd0.69 CAD6.15
Citigroup Inc42.67 USD-2.58
CSX Corp57.08 USD1.39
Home Capital Group Inc15.16 CAD-6.01
Labrador Iron Ore Royalty Corp15.82 CAD-5.33
OceanaGold Corp1.29 CAD-11.03
Paramount Resources Ltd A0.97 CAD0.00
Rogers Communications Inc Class B55.60 CAD3.33
Stelco Holdings Inc4.00 CAD-5.44
TC Energy Corp57.00 CAD-2.08
TC Energy Corp40.20 USD-2.25
Whirlpool Corp85.78 USD1.80

About Author

Jade Hemeon

Jade Hemeon