Portfolio manager Patrice Quirion believes that there are some good opportunities for contrarian investors at this time, while many major economies are in the process of reopening following months of uncertainty. Patrice discusses his outlook for global equity markets, and shares which areas he is finding most exciting. He also looks at COVID-19’s potential impact on the future of business and how these factors could affect Canadian investors. Patrice sees this as a great opportunity to rotate from growth stocks – which he dubs the “market darlings” – to good-quality, long-term businesses that have taken a hit. For investors who can take a long-term view, Patrice believes, there could be once-in-a decade types of opportunities. He believes we should be positioning ourselves to buy good cyclical businesses; if the economy takes longer to recover, these companies are more likely to make it through, and they could offer a lot of upside potential.
Recorded on June 16, 2020.