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Time to get defensive: Strategist

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While the financial crisis did a number on the portfolios of many investors, those who jumped into equity markets around the 2009 low have generated handsome returns. John Johnston, chief strategist at Davis Rea, tells BNN that now is the time for investors to take some of that money off the table.

"We've had a great run starting back in March of 2009. The S&P is up more than 100 percent, the TSX not quite as much, but up very substantially," he says. “It's almost four years from that 2009 low, so we're getting late in the whole cyclical rally and there's storm clouds over the economy for next year, so there's a whole range of things on the horizon that make me cautious for the 2013 and 2014."

Rea tells BNN that he predicts the global economy will enter a recession sometime in the next to years and that "will drag Canada into it."

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