From the progression of the vaccine rollout to the health of Canadian industries, portfolio manager Max Lemieux discusses his outlook for Canadian equities in 2021. Looking at consumer spending, Max notes that pent-up demand will likely increase the prices in travel and tourism. Interest rates at 0% are also encouraging people to buy big-ticket items, and some of the pent-up demand is already finding an outlet. He thinks it will be hard to see inflation persist in the long term, given current headwinds such as demographics. The transition to “green” is a major topic right now, and Max notes that there are many new names in Canada, compared with what has been seen in the last 15 years. He thinks a lot of these names have interesting and resilient business models.
Recorded on February 10, 2021.