David Burrows’ Top Picks for March 18, 2026
BNN Bloomberg
Top Picks from David Burrows, Chairman & CEO, Barometer Capital Management
Focus: North American large caps
Top Picks: GE Vernova, Canadian Pacific Kansas City, cash
MARKET OUTLOOK:
Barometer currently is sitting on an elevated 20 plus per cent cash weight across portfolios. While earnings revisions and purchasing managers index (PMI) data have been robust, it is currently impossible to forecast the degree of foreword looking impact the disruption of trade through the Strait of Hormuz may have on the data. Inflation remains the biggest risk to investors.
Recent deterioration in equity market breadth suggests markets are repricing risk. Given that private clients expect us to not only try to generate returns but more importantly expect us to manage risk, we get more cautious when the calculus changes. We are active in building our “farm team” but holding off on adding new positions.
Shares advanced Wednesday in Europe and Asia as oil prices fell back slightly despite a barrage of attacks by Iran on its Gulf neighbours.
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Oil prices resumed their rise on Tuesday because of the war with Iran, but U.S. stocks held steadier this time around.
Oil prices above $100 add pressure on inflation and growth, complicating rate decisions for central banks.
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Markets in Canada and the U.S. were up in late-morning trading on Tuesday despite the ongoing war in Iran.
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New York Stock Exchange-parent Intercontinental Exchange said on Tuesday it has launched a product to bring greater transparency to the private credit market, an asset class beleaguered by heightened investor concerns.
Oil tankers are crossing the Strait of Hormuz and Iran’s actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration’s position that the war should be over in weeks, not months.
Canada’s annual inflation rate slowed in February to 1.8 per cent, but many economists believe the new Statistics Canada data may be the dip before a spike driven by oil prices and the war in Iran.
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