Some experienced investors are already seeing buying opportunities in the stock market that has turned bear in the U.S., signified by a decline of more than 20% from a peak.
“Billionaire Ron Baron sees recent selloff as ‘huge monstrous’ buying opportunity!” This Seeking Alpha news headline surely caught my attention.
The Canadian stock market is only down about 12% from a peak. Therefore, it’s not considered a bear market for Canadian investors yet. Energy and commodity stocks have held up well and the big Canadian bank stocks are not super bargains yet, though, CIBC (TSX:CM)(NYSE:CM) is trading at a discount of almost 20% and offers a decently attractive yield of close to 5.2%.
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