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Compiling comments that experts make about stocks while on public TV.

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Larry Berman CFA, CMT, CTA , Chief Investment Officer, Partner

ETF Capital Management Inc.

Address
5160 Yonge St. Suite 1860
Toronto, ON
M2N 6L9

Contact Info
Telephone: 888-383-9753
Fax: 888-383-9753
Website: http://www.etfcm.com


Date Signal Chart Symbol Company Opinion Price
2015-04-13 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

China. This speaks to the US$. For many, many years, because of all the dollars they got through trade, they were the biggest buyer of US treasuries. A couple of years ago, they backed off and said that they weren’t interested in treasuries anymore. With them missing their numbers, we are all concerned. Very concerned about real estate prices now starting to fall there. They are going to do 7% growth because they are going to engineer it. He thinks China has got to be slowing to 4%-5%. That will ultimately come out in trade numbers.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2015-04-13 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

US Dollar. When you look internationally at investment returns, currencies are a big, big factor. The dynamics that are going on in the marketplace right now, between the Fed contemplating tightening, Bank of Canada easing, Europeans just starting their QE, Japan continuing their QE, when you look at that and only that, you can get a real sense that the US$ is going to continue to get stronger. There is about $9 trillion worth of global debt from foreign countries and corporations pegged to the US$. So if the US$ gets stronger, for them to repay that, there is an added pressure for demand for dollars. All of these things combined over the next year probably keep the US$ on the stronger side. Never listen to what Central Banks are doing, they are almost always wrong.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2015-04-13 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

US Earnings. We are expecting a little bit of weakness this quarter. A lot of that has been discounted already. The 1st part of earnings, the banking side, people are expecting them to be a little bit better. Banks tend to report at the front end of earnings season, and that tends to be a bit more positive. The real risk comes towards the back end of earnings’ season as we get into late April and early May.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2015-04-13 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Hedged versus non-hedged ETF’s. You have to make a bit of a market call to know which one to do at any point in time. What we do understand from currencies is that they are a very low correlation generally with equity markets. If the view for the next year or so is that the US$ is going to continue to get weaker, the  Cdn$ probably doesn’t get past $1.30-$1.33. The Cdn$ is currently sitting at around $1.26. You want to be hedged. When the Cdn$ comes back, you want to be more hedged.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2015-04-13 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Why are leveraged ETF’s not recommended for longer-term investing? In a leveraged ETF, if the market goes up 1 day, they are buying higher. If the next day is going down, it is selling lower. So every day that it goes up and down you are buying high and selling low. That is a formula for disaster in the long run. When you look at any ETF, it doesn’t matter what it is, the more volatile it is over time, the worst that leverage embedded in the ETF is. Great for short-term trading such as a couple of weeks, even a couple of months, but you have to get the direction right. MER’s typically fall in at around 1%, so shouldn’t be a major consideration.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2015-04-13 COMMENT Must be logged in to use chart DOL-T Dollarama Inc.

Still in growth mode. Trading on a trailing basis about 33X earnings, and on a forward basis at about 28X earnings. When you get into a phase where the market loves a story and loves the growth, there is no good way to value it. As some point, when that growth slows or ends, you are going to get a big multiple contraction. A stock like this doesn’t have terribly high margins, and when there is a growth issue, you are going to start trading at a market multiple, which right now would be at about 18X earnings. Technically, if it starts making lower lows and lower highs, that is when you know the multiple contraction is likely setting in. As long as it keeps having higher highs and higher lows, you can probably stay with it.


Price:
$72.430
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2015-04-13 COMMENT Must be logged in to use chart IYW-N iShares Dow Jones Technology E.T.F.

This is one of the better ETF’s in pure play technology. It is based on the Dow Jones indexes series of indexes, but it goes from large all the way down to smaller cap type holdings. This one is the broadest measure of holdings that you can get, and probably the better way of playing it.


Price:
$106.190
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2015-04-13 COMMENT Must be logged in to use chart VXC-T Vanguard FTSE All-World ex Canada

Vanguard FTSE All-World ex Canada (VXC-T) or iShare Core MSCI World of Canada (XAW-T) for an RRSP? You have to focus on global investing. Canada is only 4% of the world. A Canadian’s portfolio, on average, is going to have 50% or more exposure to Canada, and that makes sense only when energy is doing well. That is the biggest swing factor in the Canadian marketplace. These are 2 great ETF’s. They give you basically the entire world outside of the US. This one is a little more focused on larger caps where the Ishare version is all-inclusive.


Price:
$30.060
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2015-04-13 COMMENT Must be logged in to use chart XAW-T iShare Core MSCI World of Canada

Vanguard FTSE All-World ex Canada (VXC-T) or iShare Core MSCI World of Canada (XAW-T) for an RRSP? You have to focus on global investing. Canada is only 4% of the world. A Canadian’s portfolio on average is going to have 50% or more exposure to Canada, and that makes sense only one energy is doing well. That is the biggest swing factor in the Canadian marketplace. These are 2 great ETF’s. They give you basically the entire world outside of the US. This one is all-inclusive, where the Vanguard is a little more focused on larger caps.


Price:
$20.830
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2015-04-13 COMMENT Must be logged in to use chart XIN-T iShares MSCI EAFE (CAD-Hedged) ETF

Great way to play an international market. It gives you exposure to the international market, and they hedge the currency out. Sometimes you can enhance your returns by not being hedged on the foreign currency, which has been the case as the Cdn$ has dropped off. However, going forward as an international investor, with the weak Cdn$ as it is, you want to consider ETF’s like this and iShares S&P 500 (CAD-Hedged) ETF (XSP-T) to hedge your foreign currency exposure.


Price:
$25.660
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2015-04-13 COMMENT Must be logged in to use chart XSP-T iShares S&P 500 (CAD-Hedged) ETF

Great way to play an international market.. It gives you exposure to the international market, and they hedge the currency out. Sometimes you can enhance your returns by not being hedged on the foreign currency, which has been the case as the Cdn$ has dropped off. However, going forward as an international investor, with the weak Cdn$ as it is, you want to consider ETF’s like this and iShares MSCI EAFE (CAD-Hedged) ETF (XIN-T) to hedge your foreign currency exposure.


Price:
$24.190
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2015-04-13 COMMENT Must be logged in to use chart ZEB-T BMO Equal Weight Bank ETF

Equally weight bank index in Canada. Looking forward, he suspects bank earnings are going to stabilize. Probably not fall too much, but probably not go up too much from here. When you draw the channels out on the charts for the next year or so, it is probably going to be range bound. You want to have a bit less when it’s near the top and a bit more when it is near the bottom. In a range bound environment, this one is a better holding. BMO Covered Call Cdn Banks (ZWB-T) gives you the same equally weighted banks, but it does a covered call overlay on half the position and gives you about 2% extra a year in dividend returns. Because of this, and a sideways market, this is going to do a little bit better for you.


Price:
$22.870
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2015-04-13 COMMENT Must be logged in to use chart ZPR-T BMO S&P/TSX Laddered Preferred

He has a position of this and it has been doing horribly. The reset preferreds link to the five-year Canada bond. At about the $13.40 point, the Gov of the Bank of Canada surprised every analyst and every portfolio manager in Canada by doing a rate cut. Because of this, the five-year Canada bond plummeted in weeks. It stabilized for a while and he started adding, but it now seems to be in a panic phase where individual investors are selling these holdings. Institutional investors, from what he hears, are buying on the other side of this. He still holds his. It is a fine way to diversify.


Price:
$12.160
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2015-04-06 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  He always said one morning we could wake up and the Saudis could raise prices.  This has happened.  But it does not appear to be a game changer.  Refining margins are better with lower oil prices and make up a large part of integrateds like SU-T.  Q1 earnings in companies in general are expected to be negative, quarter over quarter and that is the first time we have seen this.  There is a challenge there.  He thinks when we go with what the actual numbers are, it will add some uncertainty to the markets.  We are going to get a lot of trading noise as markets debate the quality of the earnings. 


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2015-04-06 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Short selling in a registered account.  You can’t because if you get a margin call you can’t contribute more to meet the call.  You can use inverse ETFs to get the same effect as short selling.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
Showing 1 to 15 of 1,487 entries
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1 Comment

raziel

April 3rd 2015 at 8:48am

My preferrers have come down substantially as a result of lowered bank rates, I believe. Shouldn't an instrument with a fixed rate go UP when bank rates are lowered?


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