Telecom sector: offense, defense, AND dividends

The overall S&P/TSX Composite Index has rallied 37% from its March lows, led by sectors such as Financials and Energy. The capital rotation from a more defensive stance to cyclical and high-beta sectors has been prominent in recent weeks.

Consequently, one of the laggards throughout this rally has been the telecom sector, as the S&P/TSX Telecom Services Index has increased a mere 10% over that same Period. This material underperformance, in our opinion, was unwarranted and has left a gaping investment opportunity that encompasses various attributes including: income through dividends;, attractive valuation relative to historical standards and US peers; and, a rare combination that offers defensive characteristics and exposure to discretionary and business spending. (Read More...)

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Supportive Fundamentals for Oil in 2010 and Beyond

The price of crude oil has been extremely volatile over the past few years as a result of economic uncertainty and a near collapse of the financial system. The volatile price environment has been further accentuated by various supply issues, concerns about geopolitical risk, currency hedging, and general speculation on commodities. (Read More....)

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