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 Corp131.03 USD-0.34Rating
Assured Guaranty Ltd46.64 USD-0.53
Birchcliff Energy Ltd6.39 CAD-4.34
Citigroup Inc69.96 USD-0.06Rating
CSX Corp30.31 USD-1.94Rating
Home Capital Group Inc37.59 CAD-0.63
Labrador Iron Ore Royalty Corp39.59 CAD-5.81
OceanaGold Corp2.42 CAD2.11
Paramount Resources Ltd A16.53 CAD-2.02
Rogers Communications Inc Class B59.79 CAD-0.03Rating
Stelco Holdings Inc44.42 CAD-4.82
TC Energy Corp62.70 CAD0.37Rating
TC Energy Corp49.16 USD-0.18Rating
Whirlpool Corp210.63 USD-0.97

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Jade Hemeon

Jade Hemeon  

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