The Globe and Mail recently spoke to money manager Greg Newman about his investing style and what he’s been buying and selling
While many investors hunkered down during the market downturn this year, hanging on to their positions and hoping for better days ahead, money manager Greg Newman has been aggressively selling.
It’s a slight increase from 45-per-cent equities earlier in the week before Mr. Newman took advantage of the recent market rally. Yet it’s a big drop from 90-per-cent in equities he held at the start of the year.“We saw the skies were darkening, and we wanted to be in front of it,” says Mr. Newman, who oversees about $800-million in assets.
The active strategy has paid off so far this year: Mr. Newman’s average 70-30 portfolio is break-even so far this year, as of Aug. 31, while the S&P/TSX Composite Index was down about 10 per cent. Both performance results are based on total returns, while Mr. Newman’s is net of fees. Some of his top holdings today include BCE Inc., TC Energy Corp., Keyera Corp., AltaGas Ltd., Dollarama Inc. and Intact Financial Corp.
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