The Financial Post reports in its Wednesday edition that the strategy of Oscar Belaiche, a portfolio manager with ties to Bank of Nova Scotia, is to blend Canadian and U.S. stocks -- a North American perspective -- because some companies and sectors are better represented in the U.S. than in Canada. In a Post special, Olev Edur quotes Mr. Belaiche as saying: "Canada is a great place to invest and certainly Canadian banks are great but even so, if we look at the valuations of TD or Scotiabank, and JP Morgan looks more attractive, we'll invest there. Foreign content provides exposure to companies you can't get in the Canadian market, and it helps diversify your portfolio. Going North American or global is important." Of course, much in Canada will depend on what transpires in the U.S. under Donald Trump. "Trump seems to be very pro-business and anti-regulation, so that's very encouraging for the U.S.," says Mr. Belaiche. "He's also very U.S.-centric so again that's good for investing in the U.S. It's maybe not so good for U.S. multinationals with foreign operations, because he wants to bring them home." Managers with an international focus see the next 15 years playing out quite differently than the past 15 years.