Go Skiing in the Market Avalanche
These Canadian stocks will help fight off the winter blues.
The financial media is equipped with an extensive vocabulary for times of market panic, and most of it is the type of cheery, feel-good rhetoric designed to hearten and uplift the average investor. Words like plunge, battering, rout, meltdown, and apocalypse are sure to bring out the sunshine on these wintry January days. Just remember, this is nothing compared with a blizzard in Winnipeg. Let's take a look at some tough Canadian stocks where you might find shelter over the long term.
Monday saw a nearly 5% drop in the S&P/TSX Composite Index, as recession fears spread from Asia to Europe to North America. Although Tuesday's emergency Fed rate cut brought some relief, we think the sell-off has created some bargains. These high-quality companies are trading at or near appropriate margins of safety to their fair values.
Kish Patel does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.