Tag: bmo

BMO Harris Private Banking predicts success for RIM



Paul Taylor, chief investment officer of BMO Harris Private Banking, has great things to say about investing in Research in Motion Ltd.

This is unusual given that Taylor has been shifting money out of “defensive” areas such as telecommunications, utilities and consumer staples and into “cyclical” industries, including energy, base metals, technology and consumer discretionary.

The reason he’s sticking with RIM?

“These are still early days for the conversion from ‘dumb phones’ to smart-phones,” Taylor said. “A lot of people are concerned about [iPhone maker] Apple, but there’s plenty of space for both Research In Motion and Apple to be tremendously successful.”

The general idea here is that the smartphone market isn’t as simple as a pie and everyone is trying to get their piece. The pie is ever expanding and there is room for several major smartphone players.