Why this money manager thinks the market is less risky than it was six months ago
Chris Blumas understands why investors might be nervous about a looming recession. Illustration after illustration of Joel Kimmel Money manager Chris Blumas understands why many investors are reluctant to buy stocks at this time, given the economic threats, including predictions of a growing recession. But in his view, the market is currently much less risky as valuations for many securities have dropped significantly, meaning the potential for better returns is even higher for investors holding funds for the long term. “That’s not to say that things can’t go down in the short term, but for anyone with a time horizon of more than three to five years, now is a pretty interesting time to invest if you can look beyond short term volatility. , said Mr. Blumas, a Toronto-based portfolio manager at Raymond James Investment Counsel Ltd., a multi-manager platform with approximately $1 billion in assets under management. “I see a lot of value in the market today,” added Mr. Blumas, who overs