The Globe and Mail reports in its Tuesday edition that Purpose Investments fund manager Craig Basinger has been investing more defensively in recent months, even before U.S. President Donald Trump launched a tariff war that sent markets crashing. The Globe's Brenda Bouw writes that Mr. Basinger's take is that inflation is back and tariffs -- if they do come, after being delayed again until April 2 -- will likely worsen it. If tariffs are ultimately slapped on Canada, Mr. Basinger is not convinced they will stick, especially if markets continue to react negatively. He calls it the "Trump Put," given the broad belief that Mr. Trump measures his success on the performance of U.S. stock markets. He likes Restaurant Brands -- the company behind Tim Hortons, Burger King, Popeyes and Firehouse Subs. He notes the stock was down last year as the company struggled a bit on same-store sales. "The valuation is what got us intrigued," he says, adding: "There has been an uptick in the quick-service space recently. QSR's brands lagged with consumer value promotions, so we see a catch-up trade. The company also pays a good dividend yield of about 4 per cent. It was a bit out of favour when we bought it, which is something we look for."