July 13, 2021

Outlook for stocks dim but gold may shine: survey

Canada's investment managers are getting antsy about stock market returns, according to the latest quarterly survey from BetaPro Management.

Rather than anticipating some relief after the most recent slide, those people entrusted to make decisions about your money are growing increasingly discouraged as to whether they can make any headway in the coming months.

The June survey polled nearly 200 advisors, who collectively oversee an estimated $20 billion in client assets, on their outlook for various asset classes.

Those claiming to be "bullish" about the S&P/TSX 60 fell to 39 per cent in this latest go-around, down from 58% three months ago. Those considering themselves to be "bearish" on the Canadian market rose to 45% from 30%.

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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...