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."

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Allstate Corp104.14 USD0.71
Assured Guaranty Ltd31.74 USD-1.89
Birchcliff Energy Ltd2.12 CAD0.47
Citigroup Inc56.67 USD-0.68
CSX Corp91.29 USD-1.03
Home Capital Group Inc30.21 CAD-0.92
Labrador Iron Ore Royalty Corp26.31 CAD6.00
OceanaGold Corp1.64 CAD-2.96
Paramount Resources Ltd A4.03 CAD6.61
Rogers Communications Inc Class B60.90 CAD0.20
Stelco Holdings Inc17.29 CAD-0.35
TC Energy Corp59.31 CAD0.70
TC Energy Corp45.27 USD0.42
Whirlpool Corp200.96 USD0.42

About Author

Jade Hemeon

Jade Hemeon  

© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies