Stephen Takacsy's Top Picks: CloudMD Software, Guardian Capital and Stella JonesBNN Bloomberg MARKET OUTLOOK: As government restrictions from the pandemic are lifted, financial markets continue to benefit from the flood of liquidity by central banks, which caused many bubbles to form (cryptocurrencies, EV stocks, SPACs…). As reality sets in, some of these trades have started to unwind (Bitcoin, commodities, real estate…). However, momentum investing into the “reopening/reflation” trade has sucked money out of parts of the market that were doing well during the pandemic creating great buying opportunities in oversold sectors like renewable energy (Boralex, Innergex) and some technology stocks (MDF, Tecsys). We have been cautious, not wanting to be a hero by playing the “re-opening trade”, but rather holding more stable companies and a larger cash balance even at the risk of lagging the broader market on the upside.
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