John Stephenson, President & CEO, Stephenson & Company capital management

FOCUS: North American Large Caps and Resource Stocks

Market outlook:

“Volatility is elevated and correlations are falling making it the year of the stock picker. Uncertainty in Europe and Asia have been driving markets recently creating a roller coaster effect for investors.

Passive strategies are unlikely to outperform in this environment given the volatility of the market and the uncertainty.

Despite the uncertainty, I expect the S&P 500 to return more than 12 percent for the year, but the path there will be anything but uneventful.”

Top picks:

*Short* Lightsteam Resources (LTS.TO)
Salesforce.com (CRM.N)
General Motors (GM.N)