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August 2014 |
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Economic Commentary
Desjardins Economic Studies
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Medium-term Forecasts
by
FRANÇOIS DUPUIS
Vice-President and Chief Economist
and
HENDRIX VACHON
Senior Economist

Desjardins, Economic Studies
Since the last recession, we have witnessed several economic swings and periods of financial strain. While the worst appears to be behind us, a number of challenges still cloud the horizon and are bound to impact economic growth, prompting central banks to exercise caution. Key interest rates will likely start increasing in 2015 and continue rising very gradually thereafter to eventually peak at a lower level than in previous rising interest rates environments. Finally, gains in the main stock market indexes are expected to slow, rising closer in line with economic growth.
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Stocks to Follow
Desjardins Securities Research
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Analysis by
BILL CABEL
Analyst
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| Algonquin Power & Utilities Corp. |
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- A well-diversified power and utility company with stable, long-term cash flows
- Clear path to cash flow growth for both the power and utility segments
- A stable dividend yield, with consistent dividend increases expected over the coming years
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Analysis by
BENOIT POIRIER
CFA, Analyst
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SNC-Lavalin Group Inc. |
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Under construction?SNC on the cusp of renewed growth
SNC-Lavalin is at last emerging from one of the most challenging periods in its history. We believe that management has a renewed sense of purpose to reaffirm and expand SNC's position as a global, top-tier provider of engineering and construction (E&C) services in the infrastructure and resource space.
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List of Stocks to Follow
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Stock
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TSX Symbol
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Recommendation and Risk
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Target Price ($)
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Market
Cap ($m)
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Pacific Rubiales Energy Corp.
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PRE
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Sell-AAR
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17.00 |
6,553 |
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Parex Resources Inc.
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PXT |
Top Pick-AR
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17.00 |
1,779 |
See complete list 

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Market Corrections
by
Charles K. Langford
PhD, Fellow CSI

In Greek mythology, Cassandra was the visionary who, during the Trojan War about 3000 years ago, predicted that the city would one day be burned down by the enemy. None of her predictions were believed but eventually she was right and the city was destroyed. Naturally, Cassandra had the gift of foretelling the future because, according to legend, it was given to her by a god of Olympus.
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Acquiring Recreational Property Through a Management Company
by
Patric Saint-Onge
CPA, CA, LL.M fisc., TEP
Tax Advisor

Corriveau Saint-Onge inc.
With the arrival of summer, many investors may be interested in acquiring a boat, cottage or RV. The question that is frequently asked is: can I buy it through my management company?
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