A Canadian portfolio manager said he thinks North American banks are in better shape than Europe’s in the wake of the Credit Suisse’s downfall and uncertainty about what’s next in the global financial sector.
However, Jean-Francois Tardif, founder of Timelo Investment Management, told BNN Bloomberg he’s still taking a cautious approach to investing with a recession potentially lurking.
“If you believe there's a big recession coming up, generally speaking, being out of equity is probably the right thing to do.”UBS would buy the troubled Swiss bank Credit Suisse
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