不良研究所

When oil prices went negative in 2020, Daniel Dupont聽(BCom鈥�01) bought in. 鈥淚 didn鈥檛 need to be smart to know it would go back up,鈥� says Dupont, Portfolio Manager at Fidelity Investments and a Desautels Global Expert. 鈥淢y patient process tells me to wait for the market to come my way and deploy capital quickly.鈥� Dupont manages a $7.3 billion large cap fund for Fidelity, and spoke with The Globe and Mail about picking stocks that perform well in turbulent times. Dupont notes that energy stocks are too cyclical for his taste, but constraints on supply enhance their value. 鈥淭he situation is intriguing. Supply has been constrained partly by environmental and social governance (ESG) restrictions on lending to energy companies. It鈥檚 tight in North America while OPEC+ controls most of the rest of the production. I don鈥檛 know if oil will go up a lot, but supply is very attractive relative to history, so I am more bullish.鈥�