Episodes
![A discussion of Canadian equity markets – Max Lemieux](https://pbcdn1.podbean.com/imglogo/image-logo/4341375/Fidelity_Connects_podcast_tile_ENG_1400_n9xq5f_300x300.jpg)
Tuesday Oct 17, 2023
A discussion of Canadian equity markets – Max Lemieux
Tuesday Oct 17, 2023
Tuesday Oct 17, 2023
Today we dive into a discussion of the Canadian equity markets and get an update on Fidelity’s True North® Fund with portfolio manager Max Lemieux. Fidelity True North® Fund, is a Canadian equity fund that seeks to invest in companies that are expected to grow over the long term and that are trading at reasonable valuations. Despite a volatile week for the TSX composite, Max emphasizes that the Canadian market is an interesting play right now and it’s more than just banks per se that are appealing. He says there are energy companies that look interesting and there is diversity from food to technology. Max reiterates that he buys stocks gradually based on his conviction or milestones that the company reaches. He notes not all companies will hit their bottom at the same time. He says some industrial companies last October and November were very close to their bottoms. Then they had an upside of 50 to 100 percent. He notes it should pay off to be patient in the long-run. He adds Canada has many corporations that are well run with quality names and good balance sheets. He also notes the True North® Fund seeks to take advantage of changes in the economy and that he is very careful about valuation. Max also discusses recession probabilities, and housing in Canada and the US, among other topics.
Recorded on September 20, 2023.
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Transcript available: https://www.fidelity.ca/content/dam/fidelity/en/documents/transcripts/transcript-podcast-fidelityconnects-lemieux-sept20.pdf