The Globe and Mail reports in its Monday edition that Kash Pashootan says there is no question a recession is coming; rather, it is how deep it will be and how long it will last. The Globe's Brenda Bouw quotes the founder of First Avenue Investment Counsel saying, "We don't think the economy has felt the full impact of the rapid rise in interest rates yet -- and believe it will worsen in the next six to nine months if central banks don't cut interest rates early in the new year." Instead of waiting on the sidelines, he argues investors should be strategic about what they buy and when. "The market is forward-looking and will likely move higher before the economy improves. So, 2024 will likely be a positive year in the markets, especially for the second half of the year." Mr. Pashootan oversees more than $4-billion in assets between his firm and its sister real estate company, Emblem Developments Inc. The average portfolio at his firm holds about 10 per cent cash and fixed income, 60 per cent equity, and 30 per cent alternatives. His "dividend growers" portfolio, which includes 25 to 30 North American dividend-paying companies, is up 4.2 per cent so far this year, while his "momentum" mandate is up 14.6 per cent.