CIBC World Markets reducing exposure to Energy

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CIBC WM made the announcement in its latest Canadian Portfolio Strategy Outlook report (PDF document) that it has made "a significant realignment in [its] equity portfolio this month by reducing [its] position in energy stocks from a 4.5-percentage-point overweight to a 3-percentage-point overweight," citing increasing risks linked to efforts by North American governments to reduce energy consumption and limit greenhouse gas emissions.

There will be more buying opportunities later in energy and am keeping an eye on the markets as Energy drifts lower in the coming months.

Comments

Anonymous said…
I've also reduced exposure to oil, waiting for some cheap pickings. I'm still long term bullish on oil.

FT
February 13, 2007 at 6:51 AM
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