Just because other investors are getting excited over the potential for rate cuts to arrive over the second half of 2024 does not mean it’s all right to neglect risk. Indeed, it’s times like these, when all perceive risks to be limited (and when many are more than willing to pay up for some of the market’s hotter stocks), that it can pay to be contrarian. So, to paraphrase the brilliant Warren Buffett, one should be fearful when others are greedy and greedy when others are fearful.
Now that investors are getting greedy, especially when it comes to the high-flying tech plays that are surging by double-digit percentage points in just a matter of weeks, it can pay to play a little defence with your portfolio. Let’s look at three defensive stocks that I think make sense to check out right now while the price of admission is relatively depressed.
Hydro One
Hydro One (TSX:H) stock is one of the best utility…
