Investing secrets from Bay Street's legends
David Berman, Dawn Calleja, John Daly, Shirley Won
Published
Last updated
We tapped a wealth of financial expertise to help you decide where to stash your cash
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David Dreman
Chairman and managing director of Dreman Value Management, LLC, and author of Contrarian Investment Strategies: The Psychological Edge, published in January, 2012
"On the whole, investors don't do as well as markets. Even money managers want to buy hot stocks, and they waive their valuation rules."
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Mark Mobius
Executive Chairman, Templeton Emerging Markets Group, part of Franklin Templeton Investments Corp.
"There should be a separation of commercial banking and investment banking, so that banks don't put their whole balance sheet at risk."
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David Bissett
Founder of Bissett & Associates Investment Management Ltd., now part of Franklin Templeton Investments Corp.
"Investors are going to realize that the U.S. emperor has no clothes. The shit is going to hit the fan there sooner or later, unless they can get their act together—and I don’t think they can."
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Veronika Hirsch
Hedge fund manager and chief investment officer of BluMont Capital Corp.
"Historically, I have relied on cash a lot when times were bad; now rather than holding cash, I want to be invested in high-yielding stocks."
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Dennis Gartman
Publisher of the daily Gartman Letter
"The great winner in the next several years is going to be those who sell things to the Chinese—Canada and Australia. Commodities, yes, but you guys also have high-tech. You have RIM."
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W. Brett Wilson
Chairman of Prairie Merchant Corp. A former panelist on CBC's Dragon Den, he's now host of Slice TV's Risky Business, a series that gives ordinary folks a shot at making money.
"You have to separate yourself from the Las Vegas mindset of taking a flyer on one stock. Rather, make sure you invest in a portfolio. The easiest way to do that is to buy mutual funds because they give you a portfolio of stocks instantly."
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Leo de Bever
CEO and chief investment officer, Alberta Investment Management Corp.
"I find it hard to have strong convictions about near-term trends because a lot of the issues in financial markets have binary outcomes. For example, Europe's leaders will pull it together, or not."
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Paul Musson
Portfolio manager with Mackenzie Investments and head of the team running the Ivy mutual funds. Named Morningstar's foreign equity manager of 2011.
"If you are investing in a mutual fund, make sure a manager has a proven track record through a market cycle. Even with a five-year track record, they may have have benefited from a very strong economy and a strong market."
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Frank Mersch
Hedge fund manager and co-founder of Front Street Capital
"Be patient. Rather than making very short-term decisions, I prefer to look two, three or four years out. Right now, everybody is in a panic again."
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David Rosenberg
Chief economist and strategist, Gluskin Sheff + Associates
"This is a market where you really have to identify the needles in the haystack. The less cyclical the stock, the better—and earnings visibility is key. Within the equity market, I would be focused on segments that are non-cyclical and transcend what’s happening in Europe right now: secular themes like raw food, energy security—even ways to play the revival of consumer frugality, such as private labels or do-it-yourselfers, or cocoon themes.”
