Despite poor near-term performance, the outlook for the index is positive.
When assessing companies, also look at total shareholder yield.
These Canadian telecoms and retailers have business models that withstand the Amazon effect.
The telecom sector has long been an outperformer in Canada, compared to the broader TSX. But that’s likely to change.
This year, portfolio winners may be hard to find. There will be a compression of market multiples and a return to stock picking.