The Globe and Mail reports in its Saturday edition that near this time last year, StoneCastle Investment Management manager Bruce Campbell noticed a shift in investor sentiment -- for the better. The Globe's regular columnist Brenda Bouw writes that Mr. Campbell believes selling momentum has started to subside. Mr. Campbell notes many stocks started to rise at the start of this year, led by the "Magnificent Seven," which includes technology heavy hitters Microsoft, Apple, Nvidia, Tesla, Google's Alphabet, Meta and Amazon. Mr. Campbell is now investing the cash he built up last year when he was being defensive. Today, Mr. Campbell's portfolio is almost fully invested, despite rising interest rates and continuous forecasts of a looming recession. "We don't debate that we're going to have another recession," says Mr. Campbell, who oversees about $75-million in assets. "We just don't know when that will be, and we feel we can invest and have a potential period to generate returns before that recession hits." He adds: "We have a top-down strategy in which we're trying to figure out whether we're on offence or defence at any given time. The past 36 months have been pretty challenging given the extreme volatility."