The Globe and Mail reports in its Saturday, May 20, edition that Nutrien shares have gyrated wildly over the past three years for reasons that have little to do with the company's own operations. The Globe's Ian McGugan writes that Nutrien offers an interesting microcosm of investors' big challenge these days: How do you adjust your portfolio to reflect a world that has become radically uncertain? He says in the case of Nutrien, the uncertainties include how the Ukraine war will wind up and how global trade with China will evolve. These are complex, cloudy issues. The keen minds on Wall Street and Bay Street seem just as baffled as anyone else. CIBC has axed its share target on Nutrien, but reiterated its "outperformer." Mr. McGugan says buying Nutrien as a short-term play makes little sense. Not only is it suffering from negative momentum, but for Mr. McGugan there is no obvious catalyst to turn the business quickly around. He says Nutrien has more appeal from a longer-term perspective. It is possible to make the case that Nutrien's relatively low valuation makes its stock a tempting value buy for patient investors. Mr. McGugan, however, thinks it is better strategy to wait for a better buying opportunity.