the mover

Jay Smith, portfolio manager and investment advisor at CIBC Wood Gundy.

While some investors expect markets to stop rising – and possibly plummet in the near term – money manager Jay Smith forecasts more growth, driven by interest rate cuts, government deregulation and favourable tariff negotiations.

“I think this market continues [to go] up,” says Dr. Smith, portfolio manager and investment advisor at CIBC Wood Gundy, part of CIBC Private Wealth, who oversees about $6.5-billion in assets. “People are worried about tariffs, but the worst of the tariffs were put in the market on Liberation Day.”

He notes that U.S. President Donald Trump has eased off many of the tariff rates he announced in April and has done deals with Europe, the United Kingdom and Japan.

“There are still m

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