The Globe and Mail reports in its Saturday edition that while broader global markets were down last week, analysts and money managers believe some stocks and sectors will outperform this trade war and the economic fallout that is expected to follow. The Globe's Brenda Bouw writes that Rebecca Teltscher, portfolio manager at Newhaven Asset Management in Toronto, likes telecom stocks such as BCE and Telus, which are immune to tariffs since they operate primarily in Canada. "While their growth is expected to slow over the next few years, we still like the defensiveness and safety of the sector," she says, especially since Internet and cellphone services are essential in today's digital economy. Ms. Teltscher also likes gold. While the price of gold has been volatile after hitting a record $3,201 per ounce on April 2, it remains a haven for investors during volatile economic times. Energy infrastructure plays are also favoured. She says: "While energy products have been hit with 10-per-cent tariffs, the means to transport the energy remain critical and North American energy infrastructure remains integrated and can't be easily replaced. The U.S. is dependent on Canadian oil and those pipelines will remain full."