The Globe and Mail reports in its Saturday, June 10, edition that Heward Investment Management manager Geoffrey Heward believes central banks are not done hiking interest rates this year and is positioning his portfolio to withstand the economic fallout he sees ahead. The Globe's regular columnist Brenda Bouw writes that Mr. Heward says, "I think it's dangerous to declare the all-clear." He sees the Bank of Canada raising rates again later this year. He suggest the U.S. Federal Reserve could raise rates twice this year. Mr. Heward sees more economic pain in the months ahead. In April, Mr. Heward bought Canada's MDA, a developer of space technologies such as robotics and satellite systems. It is best known for the Canadarm, which has been involved with various NASA space programs. Mr. Heward calls MDA a leading public Canadian space company. He says it is an amazing business idea. Mr. Heward figures he can double his money with MDA in the next few years. He says he trimmed his energy position to about 7 per cent from about 15 per cent a year ago based on concerns about a slowing global economy. He trimmed his holdings in Shell, ExxonMobil, Chevron and Imperial Oil. He sold all his shares in Teck Resources because he felt the stock was fully priced.