Economics
Global Market Rout Means 'Buy' Amid Panic, CPP's Wiseman Says
- Economic fundamentals don't warrant stock plunge: Wiseman
- CPP, other investors unveiled new 'long-term value' index
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The sell-off roiling stock markets from Shanghai to New York offers an opportunity to buy assets as long-term prospects for economic growth remain favorable, the head of Canada’s largest pension fund said.
“Absolutely it’s a buying opportunity, when the world is panicking and you have a quintessentially long-term view,” Mark Wiseman, the chief executive officer of Canada Pension Plan Investment Board, said in an interview at the World Economic Forum. “Whatever negative market sentiment there is, I don’t believe is supported by the facts that are coming out.”