The Globe and Mail reports in its Saturday edition that money manager Jay Smith at CIBC Wood Gundy has sold his position in BCE. The Globe's Brenda Bouw quotes Dr. Smith saying: "BCE is a stock I started selling in 2023, and exited the last of my position a couple of weeks ago. I initially bought the stock in mid-2009, coming out of the global financial crisis. The stock did well during the time I owned it, with a total return of about 380 per cent. I sold it in part because of the weakness in its average revenue per user numbers, which continued to decline year-over-year as more consumers shifted away from the traditional telecommunication companies. I generally don't see much growth on the horizon for BCE, even with the recent acquisition of Ziply Fiber, a U.S. fibre-Internet provider. And despite the dividend cut, its debt levels are still quite high." Over all, Dr. Smith, who has a Phd in philosophy, forecasts more growth, driven by interest-rate cuts, deregulation and favourable tariff negotiations. 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. And each time a new deal is announced, the market goes up.