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North American Equity | Stocks rose while recession concerns continue

August 22, 2022

“Q2 earnings season coincided with a busy macro calendar and this is the perfect setup for portfolio management to add value with stock selection.”  — J-P Chevalier & Marc Gagnon 

 

Key takeaways from their comment:

  • The second quarter earnings season is not as bad as was feared, with the rate of earnings revisions still compatible with a soft landing.
  • The Canadian market remains attractive, with a strong relative-value position and multiples broadly below the historical average.
  • In the U.S., we continue to see a disconnect between mega caps, below $100 billion and SMID-cap innovators.

Read the full article

 

 

Jean-Pierre Chevalier, CFA
Senior Director, Portfolio Manager, US Equities and Thematic Investing

Marc Gagnon, M. Sc., CFA
VP, Portfolio Manager, North American Equities

 

 

Topic : Portfolio Managers

Written by iAIM

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