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-based 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 of these is Stella-Jones, a stock his firm has owned on and off since 2009. "We first bought it at around $5 a share," he says. "We've made some tremendous returns on this stock, including after selling our shares in mid-June last year in the mid-$80 range. We've started buying shares again recently at around $70. The stock dropped in November after the company announced a slowdown in its faster-growing utility poles segment." Sales are still expected to grow by more than 6 per cent annually from utility companies replacing aging poles and expanding their electric grids. The California wildfires will likely also create additional demand.