Poll by Canadian Chartered Financial Analysts(R) reveals Mid-Year Market Outlook



    TORONTO, July 22 /CNW/ - In a poll prepared on behalf of BNN, 89.4% of
Canadian CFA charterholders believes that inflation has become a greater
concern than it was just six months ago. "Food prices globally will continue
to rise on growing demand and dwindling inventory levels. This will constrain
global economic growth," one respondent commented.
    North America is coming out on top according to respondents with 40.1%
citing Canada and the United States as the markets that are providing the best
near-term values. "Canada has the largest investable oil reserves in the world
and it is and will continue to get a lot of attention from global players in
the near-term."
    When asked about the 6 month outlook on the price of oil 70.4% of
charterholder respondents expect the price of oil to be in the $100-150 range.
    The third national poll of CFA charterholders probes Canadian investment
professional's predictions for the second half of 2008. Of the 948 investment
professionals who responded to the poll, over 58% think that the Canadian
dollar will finish 2008 at or above par.

    
    Key poll results:

    -------------------------------------------------------------------------
    What is your 6 month outlook on the price of oil?
    -------------------------------------------------------------------------
    Answer Options                                          Response Percent
    -------------------------------------------------------------------------
    $150+                                                              23.2%
    -------------------------------------------------------------------------
    $100-$150                                                          70.4%
    -------------------------------------------------------------------------
    less than $100                                                      6.4%
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    In your opinion, have the global financial risks and write-offs been
    reflected fully in Canadian bank stocks?
    -------------------------------------------------------------------------
    Answer Options                                          Response Percent
    -------------------------------------------------------------------------
    Yes                                                                44.2%
    -------------------------------------------------------------------------
    No                                                                 46.8%
    -------------------------------------------------------------------------
    Don't know                                                          9.0%
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    What direction will Canadian interest rates head by year's end?
    -------------------------------------------------------------------------
    Answer Options                                          Response Percent
    -------------------------------------------------------------------------
    Up                                                                 45.6%
    -------------------------------------------------------------------------
    Down                                                                9.9%
    -------------------------------------------------------------------------
    Stay same                                                          44.5%
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    Has inflation become a greater concern than 6 months ago?
    -------------------------------------------------------------------------
    Answer Options                                          Response Percent
    -------------------------------------------------------------------------
    Yes                                                                89.4%
    -------------------------------------------------------------------------
    No                                                                  9.6%
    -------------------------------------------------------------------------
    Don't Know                                                          1.0%
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    By December 31st, where do you think the Canadian dollar will finish?
    -------------------------------------------------------------------------
    Answer Options                                          Response Percent
    -------------------------------------------------------------------------
    Above par                                                          23.2%
    -------------------------------------------------------------------------
    At par                                                             34.9%
    -------------------------------------------------------------------------
    Below par                                                          41.9%
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    Are Canadian stocks properly valued at this time?
    -------------------------------------------------------------------------
    Answer Options                                          Response Percent
    -------------------------------------------------------------------------
    Yes                                                                27.5%
    -------------------------------------------------------------------------
    No - over valued                                                   37.9%
    -------------------------------------------------------------------------
    No - under valued/mixed                                            34.6%
    -------------------------------------------------------------------------

    Which markets are providing the best near-term values (country, sector or
    theme)?

                          Top Responses by Key Word
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    ----------------------------------
    Total Response (For Q8)
    ----------------------------------
    Key Word                           Response
    ----------------------------------
    Canada                                20.4%
    ----------------------------------
    US                                    19.7%
    ----------------------------------
    Emerging Markets                      10.2%
    ----------------------------------
    Energy                                  10%
    ----------------------------------
    Commodities                            9.6%
    ----------------------------------
    Financials/Banks                       9.3%
    ----------------------------------
    Cash/Money Markets                       5%
    ----------------------------------
    Europe                                 4.4%
    ----------------------------------
    Oil and Gas                            4.4%
    ----------------------------------
    Other(xx)                                7%
    ----------------------------------
    Total                                  100%
    ----------------------------------

    (xx) Included precious metals, infrastructure, agriculture, gold,
         technology, consumer staples
    

    About the poll: The poll was conducted via electronic survey, and was
in-field from July 7 - 11, 2008. Eligible charterholders from all 12 Canadian
CFA societies participated as follows: Atlantic, Quebec City, Montreal,
Ottawa, Toronto, Winnipeg, Saskatchewan, Edmonton, Calgary, Okanagan,
Vancouver and Victoria.

    Toronto CFA Society is a not-for-profit organization supporting
professional development and advancement of CFA charterholders. The society
provides member services including educational programmes, sponsored events,
job postings and networking opportunities.
    Founded in 1936, the Society is affiliated with CFA Institute, the global
body that administers the Chartered Financial Analyst curriculum and sets
voluntary, ethics-based performance-reporting standards for the investment
industry. With over 6,800 members, Toronto CFA Society is the 2nd largest in
the world, after New York. For more information, please refer to
www.torontocfa.ca
    CFA(R) and Chartered Financial Analyst(R) are trademarks owned by CFA
Institute.





For further information:

For further information: NOTES FOR MEDIA: If you would like more details
on the poll please contact Sara Maginn Pacella at (416) 366-5755 x225 or
spacella@torontocfa.ca


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890