The Globe and Mail reports in its Thursday edition that Stan Wong, a portfolio manager and senior wealth adviser at Scotia Wealth Management in Toronto, is an active trader seeking stocks that have carved out competitive advantages in their industries or operate with few competitors. The Globe's Brenda Bouw quotes Mr. Wong saying: "That allows them to maintain pricing power and protect their margins. I find this crucial for long-term stability and performance." Mr. Wong oversees about $600-million in assets. His investment approach is based on a combination of macroeconomic, quantitative and technical analysis. His all-equity portfolio, which includes 30 to 35 stocks, has returned 25.3 per cent over the past year. Its three-year annualized return is 14.6 per cent, and the five- and 10-year annualized returns are 15 per cent and 15.5 per cent, respectively. The performance is based on total returns, gross of fees, as of Sept. 30. The fund's current equity mix includes 59 per cent U.S. stocks, 28 per cent Canadian and 6 per cent international, as well as 7 per cent in cash. Its top-five holdings include Alphabet, Amazon, Caterpillar, Dollarama and Manulife Financial. Mr. Wong is particularly upbeat about Amazon.