The Globe and Mail reports in its Wednesday edition that Scotia Wealth Management manager Greg Newman has grown defensive with the rise of tariff discussions this year. The Globe's Brenda Bouw writes that Mr. Newman is currently a buyer of Intact Financial. Intact Financial is a Canadian property and casualty insurance company. Mr. Newman says he has owned the stock for more than 15 years. Mr. Newman says in a note: "We started buying it in the $50 a share range back then. I still like the company, but started to trim our position around $300 in March and April. It was getting more expensive on a price-to-growth basis. I also felt that investors were really crowding into perceived tariff-resilient plays like this at the time. I felt like it was getting over its skis. We trimmed about a quarter of our position. If the stock gets down to $260 or $270, we would consider buying more." The Globe reported on May 8 that National Bank Financial analyst Jaeme Gloyn was keeping his "outperform" ranking for Intact Financial intact. It was then worth $308.94. The Globe reported on May 9 that Scotia Capital analyst Phil Hardie was sticking with his "sector perform" call on Intact Financial. The shares could then be had for $301.90.