Alex Ruus, portfolio manager, Arrow Capital Management
FOCUS: North American stocks
MARKET OUTLOOK:
Look for 2023 to bring us volatile financial markets as a mix of higher interest rates with a varied economic outlook will give mixed signals to many investors without strong convictions. While we expect stock markets to be generally sideways in 2023, our approach to buying superior companies should once again yield strong returns this year, just as it did in 2022.
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TOP PICKS:
Last purchase at $12 in 2022
It is an undervalued oil and gas royalty company with a compelling double-digit free cash flow and a dividend yield of 6.9 per cent.
Last purchase at $54 in 2022
It is North America's largest operator of liquid pipelines with assets that are next to impossible to replicate. The company trades at an attractive 16 times earnings and is a dividend aristocrat with a 6.5 per cent yield.
Last purchase at $15 in 2022
North America's leading fleet manager that trades at an attractive 16 times earnings and a dividend yield of 2.1 per cent.
PAST PICKS: July 29, 2022
Polaris Renewable ENERGY (PIF TSX)
- Then: $22.25
- Now: $14.09
- Return: -37%
- Total Return: -34%
Tourmaline Oil (TOU TSX)
- Then: $80.23
- Now: $61.52
- Return: -23%
- Total Return: -16%
Suncor (SU TSX)
- Then: $43.46
- Now: $45.65
- Return: 5%
- Total Return: 8%
Total Return Average: -14%
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| PIF TSX | Y | Y | Y |
| TOU TSX | Y | Y | Y |
| SU TSX | Y | Y | Y |
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