The Globe and Mail reports in its Tuesday edition that money manager Kevin Burkett recently added Stella-Jones, the Montreal-based maker of pressure-treated wood products such as utility poles and railway ties. The Globe's Brenda Bouw quotes Mr. Burkett, partner and portfolio manager at Victoria-based Burkett Asset Management, saying that Stella-Jones "is a company we bought in late April at an average price of $67.11 a share. We like that its customers, such as railways, telecoms and electrical companies, are stable businesses largely independent of economic swings. This is a business we've owned before but sold in the middle of 2023 after a strong run-up. It's an example of a solid company we've decided to buy back, given its recent drop." Mr. Burkett has been using the recent market downturn to pick up a few stocks he thinks will not only weather the current economic storm but also become long-term winners in his clients' portfolios -- commonly known as defensive plays. "We look for companies that not only generate sustainable returns on capital, but also have competitive advantages that allow them to thrive across market cycles," he told The Globe. Burkett Asset Management oversees about $430-million in assets.