In less than a month, the longest bull market is history vanished as benchmark indices such as the S&P 500 fell more than 30 per cent from their peaks. The downturn stunned investors, the professionals included, with many selling quickly to accumulate cash. Although they stayed on the sidelines at first, portfolio managers have now begun to deploy some of the cash. Here’s what they’re buying:
Keith Richards, president and portfolio manager of ValueTrend Wealth Management — Alphabet Inc.
Keith Richards makes his investment decisions based on the technical analysis of stocks. When Alphabet Inc. Class A stock lost more than 30 per cent of its value between February and March and approached the US$1000 per share mark, but didn’t fall below it, Richards spotted a “massive” level of support and bought in. Charts aside, he believes that this recession will spell the end of several smaller companies and continue