The United States was anything but an investment destination of choice during the protracted recession from which, thankfully, we have emerged. The near death of the auto industry, the trough (almost an abyss) that characterized the housing industry, the fragility of the financial system … If you were an investor looking for quick returns, there wasn’t much to recommend the US.
Things appear to be turning around, of course. It’s beyond dispute that the stock market, corporate profits and, now, housing market gains reflect growing confidence among investors and consumers alike.
More good news appeared recently in a piece by Reuters that appeared in Canada’s Financial Post. According to the article, leading Canadian investment advisers are now impressing upon their clients that the time is right to invest in the United States.
“We look at the U.S. market as being in a period of economic recovery, driven by a recovery in the U.S. housing sector, U.S. auto sector, and an improvement in the U.S. labour market,” said Dean Orrico, Chief Investment Officer at Middlefield Capital Corp. in Toronto.
The sense that the U.S. is not only in a recovery, but one that is likely to be sustained, is providing investment advisers with confidence that the U.S. is once again a place where investments grow steadily and dependably over time.
Moreover, given the enormous size, breadth, depth and diversity of the U.S. economy, there is significant upside potential
Everyone will be investing in the U.S. in 2014, noted Dean Owen of Cherry Financial in Saskatoon, Saskatchewan. The best time to invest, in terms of returns, is 2013.
Let’s hope the experts are right. If the U.S. economy continues to gain steam, it will be good not only for investors, but for U.S. manufacturers and Canadian exporters alike.