The Chairman and Founder of Caldwell Investment Management Ltd., Thomas S. Caldwell, was recently interviewed by WP Canada. The industry veteran states that he’s always looking at what’s been hammered down. Moreover, he believes that there are always opportunities and sees how the U.S. will now be even more isolationist, with regards to the current pandemic.
Mr. Caldwell adds that he has seen most things in his long investment career. As he drives his 20-year-old pick-up truck to work through a near-deserted downtown Toronto, he also admits that the COVID-19 crisis is a little different to everything he has seen before. The good thing is, he took time out from analysing the markets to talk to WP about his coronavirus outlook. He says he sees some opportunities.
Being the calming voice amid the chaos, Mr. Caldwell knows that he and the rest of his team will. He doesn’t believe this is the black death.
“We have some of the smartest people in the world working on it and they will come up with solutions,” says Caldwell. From his point of view, most people are also taking their positions, from medical professionals through to “insulated” government officials.
As an investor, however, it’s part of Caldwell’s job to think about what will work when the world comes out of this. Furthermore, he explains that he looks for stuff that's been massacred and says “OK, where will an opportunity be and when will that opportunity be recognized?” He is always looking at what has been hammered down, so this period of time represents a happy hunting time, if you will.
For him, the key concept is isolation, which dictates the big picture. The Chairman of Caldwell Investment Management used to work for a massive, highly political U.S. brokerage where the phrase “incidents are used to do what you want anyway” was commonly used.
He believes that President Trump will use this to nail China. “He’s already made noises about if this thing is man-made or contrived or didn't happen by accident, then they're going to pay a price. He wants to do it anyway,” Caldwell added.
Caldwell thinks that America is going to be more isolationist and that's always been their natural propensity. That will include even Canada, which he thinks is a very dangerous situation. He knows that this will create more jobs for Americans, which will suit Trump heading into the November election.
Trump basically calls himself a tariff man. “He’s going to come back with a lot of those. Everybody's blaming each other, which is too bad, because I think the American public is getting tired of that nonsense,” says Caldwell.
Caldwell believes that this isolation will mean a different type of economy. “You're going to have isolation, you want to be in the most powerful economy in the world that will benefit from this and that, like it or not, is America,” he continued.
Thomas Caldwell admits he had not yet made any moves. biding his time as he works through the markets and collects his thoughts. He believes that having been hit hard like travel, such as hotels, cruises and airlines, are the industries he rarely thinks of investing in.
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(Disclaimer : We are not associated with Caldwell Investment Management)