Finding Opportunity Through Disciplined Investing
Discipline
is central to the VPI Canadian Equity Pool’s investment approach. When
opportunities are limited, the Portfolio Manager is comfortable holding cash
and waiting for attractive businesses at reasonable valuations. We saw this
leading into the year, resulting in a large cash position in the Pool. This
cash was put to work when opportunities emerged, and it set the Pool up for
success. Throughout the rest of the year, the Portfolio Manager has been
carefully allocating capital to the opportunities we believe are best over the
long-term. In August, this led to building ownership in two new businesses to
the Pool, Stantec and WSP.
Today,
the Pool is positioned for growth, with attractive estimated earnings growth,
good value, and cash in hand to deploy to new opportunities that emerge.
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