Sam LaBell, our Portfolio Manager, was on BNN Bloomberg with Amber Kanwar discussing his views on the market, as well as long and short positions.
• Canadian Tire’s (TSX: CTC.a) weak sales and financial services exposure;
• Brookfield Corp.’s (NYSE, TSX: BN) problems in real estate;
• Of the Big Six Canadian banks, why Canadian Imperial Bank (NYSE, TSX: CM) and Bank of Nova Scotia (NYSE, TSX: BNS) are the weakest;
• Why Air Canada (TSX: AC) looks fully valued.
Sam Labell is an Advising Representative with Veritas Asset Management Inc., an Investment Fund Manager, Portfolio Manager and Exempt Market Dealer registered in the provinces of Ontario and Manitoba.The opinions and statements expressed by Sam in his appearance are his personal views and do not necessarily reflect those of the Veritas Group of Companies. They are effective as at the date of the broadcast only and may be subject to change
Sam LaBell, our Portfolio Manager, was on BNN Bloomberg with Amber Kanwar discussing his views on the market, as well as long and short positions.
• Why he has a cautious outlook for the TSX;
• The biggest challenge for Shopify Inc. (NYSE, TSX: SHOP);
• Why there is pressure on Canadian bank earnings;
• Sectors that we like, including Consumer Staples (grocers), REITs and Utilities.
Sam Labell is an Advising Representative with Veritas Asset Management Inc., an Investment Fund Manager, Portfolio Manager and Exempt Market Dealer registered in the provinces of Ontario and Manitoba. The opinions and statements expressed by Sam in his appearance are his personal views and do not necessarily reflect those of the Veritas Group of Companies. They are effective as at the date of the broadcast only and may be subject to change
We launched our Veritas Absolute Return Fund three years ago to action the long and short ideas of our sister company, Veritas Investment Research Corp. Last year was a strong one for the fund as it is a Top Contender for a 2022 Canadian Hedge Fund Award in the Equity-Focused 1-Year Return category. Not that long ago, Canada’s hedge fund space was small and niche. But not anymore, with 246 Canadian hedge funds considered for a 2022 CHFA. The awards will be presented on Tuesday, November 22, 2022, at a gala awards dinner at One King West Hotel in Toronto.
This article in The Globe & Mail featured long/short ideas of Veritas Asset Management, noting our funds have been bearish on the overvaluation of renewable energy companies (such as TransAlta Renewables Inc.) relative to energy companies pivoting from fossil fuels to renewable energy (such as TransAlta Corp.). “Coal, oil and gas producers are out of favour with investors that have embraced the ESG movement,” said Sam La Bell, an Advising Representative and Director at Veritas Asset Management. “Yet, many are transitioning to renewables and have strong cash flows; moreover, wind, solar and other renewable energy companies have production risks because the wind doesn’t always blow and the sun doesn’t always shine.”
This Morningstar article profiles the performance of the top-10 Canadian liquid alternative funds in the tumultuous year ended January 31, 2021, including the Veritas Absolute Return Fund.
Veritas President and CEO Anthony Scilipoti discusses how companies will adjust their office footprint after the pandemic and that this will pressure rent.
This Morningstar article notes that the Veritas Absolute Return Fund has posted consistent positive returns in the downturn and since inception.
