Year-to-date, the TSX has fallen roughly 13 per cent while the S&P 500 is down about 23 per cent, according to Yahoo Finance data From m_zadikian
BMO's Brian Belski and Wellington-Altus' Martin Pelletier expect the S&P/TSX Composite Index to outperform the S&P 500 because of its exposure to cyclicals. REUTERS/Mark Blinch
"While we certainly remain bullish heading into year-end, we do believe the issues facing the market are unlikely to dissipate in the near term, and as such we expect this higher volatility backdrop to persist over the coming months. However, we believe this does not mean investors should position portfolios more defensively," said Brian Belski, chief investment strategist at BMO Capital Markets, in a note to clients on Monday.
North American indices have come under intense selling pressure in recent months as investors ramp up their recession bets. A key volatility gauge remained elevated to touch its highest level since mid-June.is down about 23 per cent, according to"A bottom and a top are more of a process and you can never get the timing perfectly," said Martin Pelletier, a portfolio manager at Wellington-Altus Private Counsel, via phone on Monday.
"There's a chance that you miss out on a recovery and when it does eventually happen – and it will happen – it may be a month, it may be six months, it may be a year. And so for those who are, especially younger investors, there's a lot of opportunities out there," he said.
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