The Globe and Mail reports in its Tuesday edition that it is not home bias that has money manager Stephen Takacsy bullish on Canadian stocks and bonds, but rather a hunt for value and an optimistic view of the country's longer-term economic growth. The Globe's Brenda Bouw quotes Mr. Takacsy, chief investment officer at Montreal's Lester Asset Management, saying: "Canada has been underinvested in and overlooked. Low inflation, lower interest rates and a low Canadian dollar are all very positive for stocks and bonds." Mr. Takacsy sees good Canadian stocks trading at a large discount to U.S. peers. One stock that he recently sold is Canadian Western Bank. After owning it for only eight months, it delivered a return of almost 40 per cent. "We bought the stock for $41.67 a share in June after the company announced it was being acquired by National Bank," he says. "Canadian Western was trading at a huge discount to the share exchange ratio offered by National Bank, which saw its stock drop sharply on the news. We were confident regulators would not oppose the transaction, so there was a huge upside from the discount going to zero upon the deal closing and National Bank's shares rebounding. We sold Canadian Western for $57.67."