Top strategist Kenneth Fisher says that hedge fund managers who’ve been fleeing Canadian stocks are making a big mistake.
“A growing number of funds are betting that Canada’s commodity-based economy is headed for a fall,” Fisher writes in his latest Forbes column. “The hedgies won’t own Canada, but if you are a contrarian investor like me, you should.”
Fisher says he expects big things from Canadian stocks over the longer term. “I not only recommend buying select Canadian stocks, but you might also pick up some ‘2-4s’ (cases of beer, eh?) and poutine (Quebecois french fries) to celebrate our largest trading partner’s coming independence day, called Canada Day and celebrated on July 1.”
Fisher highlights several Canadian stocks he likes, ranging from resource and energy plays to financials to media companies. Among them: Royal Bank of Canada.