Recent Opinions | StockChase
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Compiling comments that experts make about stocks while on public TV.

Recent Opinions

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Date Signal Company Expert Opinion Price
2016-08-23 N/A A Comment -- General Comments From an Expert
A Commentary
Zachary Curry

Market. The S&P 500 and Dow are now trying to make another all-time high. From a monetary point of view and bond point of view this is warranted, but he is cautious from an earnings perspective. US earnings have gone down over past quarters, so the market going up is a bit of a countertrend, but the offer of what else is available is warranted, just because of interest rates being so low. December for an interest rate increase might be a more realistic option. The Fed seems quite concerned about global issues so they keep rescinding back their talk of interest rate hikes. Even if they raise rates, they are still going to be at very low levels, which is why we are seeing markets going to new highs. He is fairly constructive on the economy. The US and emerging markets are really driving the growth that we are seeing now. Japan and China seem to be bottoming. That is offset by the euro area and the UK which could see growth coming down.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: _N/A
2016-08-23 COMMENT A Comment -- General Comments From an Expert
A Commentary
Zachary Curry

Canadian banks? Over the past 15+ years they have grown at a rate of double the GDP, which is hard to do consistently. We have had a housing market that has run, and debt levels that have increased. His view is that banks’ growth is slowing. Dividends are very important. A lot of the banks beat was done on the cost side. If you are looking for income, they are great investments, but as a capital appreciation, he doesn’t think they are going to rise at the pace they have.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Unknown
2016-08-23 N/A A Comment -- General Comments From an Expert
A Commentary
James Telfser

Market. On his funds, he has a risk overlay. It indicates how much risk he should be taking, which he uses as a reason to increase cash, decrease cash, buy Put options, Short stocks, etc. For the last number of months, he has had very aggressive positive signals. Also credit spreads across Canada, the US and globally, have really come in, to the tune of 50% since the beginning of the year. This tells him that we are in an environment where you can take a little more risk in a portfolio. He is about 92% exposed to the market. Feels the probability of a rate hike is increasing, and wouldn’t be surprised to see one in December.


Price: $0.020
Subject: CANADIAN
Bias: BULLISH
Owned: _N/A
2016-08-23 COMMENT Apple
AAPL-Q
Zachary Curry

He is constructive on this company. There have been questions on the refresh cycle going forward, but he is comfortable with that. The new phone coming out will be good. If there is not a rush to it, there will be a gradual type of refresh cycle. He is positive on their move to their eco system.


Price: $108.850
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Yes
2016-08-23 SELL Alaris Royalty
AD-T
James Telfser

He has looked at royalty corps all together to see if there was an investment opportunity. Has just never been comfortable with the business model. Although you are getting a nice dividend, you have to deal with the volatility.


Price: $22.820
Subject: CANADIAN
Bias: BULLISH
Owned: No
2016-08-23 COMMENT AGT Food & Ingredients
AGT-T
James Telfser

(Market Call Minute.) An interesting name. He had always considered this to be a Sell, and has been Short it a few times in the last 6 months. Thinks it is a bit overhyped given its free cash flow generating ability.


Price: $36.790
Subject: CANADIAN
Bias: BULLISH
Owned: Unknown
2016-08-23 BUY Aecon Group Inc
ARE-T
James Telfser

(Market Call Minute.) A great story. Infrastructure spending is improving. They’ve had some blowout quarters, and he thinks the best is still ahead of them if energy starts to rebound a little bit.


Price: $18.870
Subject: CANADIAN
Bias: BULLISH
Owned: Unknown
2016-08-23 HOLD Badger Daylighting
BAD-T
James Telfser

(Market Call Minute.) They just put up a great quarter. It has been hit and miss in the last few quarters. He is looking at this pretty deeply right now.


Price: $26.770
Subject: CANADIAN
Bias: BULLISH
Owned: Unknown
2016-08-23 COMMENT BCE Inc.
BCE-T
Zachary Curry

He likes this company. There are going to be some headwinds, but doesn’t think the pick and pay bundles are going to be that disruptive. The 4.4% dividend is the reason the stock is doing well. You are going to have to be careful, but as long as they are prudent going forward, you should see this name continue to plod along.


Price: $61.970
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Unknown
2016-08-23 COMMENT Bank of Montreal
BMO-T
Zachary Curry

Moving more towards a TD type model, more geared towards retail banking. With that, you are going to see more consistent results. Less volatility, less capital market ups and downs. With their Harris Bank in the Midwest, they are branching out in the US slow and steady. Not a bad dividend. He thinks you will see a steadier approach upwards, and constructive.


Price: $86.270
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Yes
2016-08-23 WAIT CitiGroup
C-N
Zachary Curry

This is more exposed to the emerging-markets. Based on his view on potential growth going forward, this one would be in the good camp if you had to pick a bank. They’ve been under pressure with the emerging-market pullbacks, but the bigger risk for them is in the political side. Both US candidates seem to be pretty stuck on pushing the banks further.


Price: $46.590
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Unknown
2016-08-23 TOP PICK Celgene Corp
CELG-Q
Zachary Curry

A biotechnology company that is primarily focused on cancer research. They take positions in companies, watch them do the R&D, and then they capitalize further. They’ve made 2 acquisitions, one in the MS space. They have a based strip cancer drug and then little bolt on drugs that combine with the based for changes in chemotherapy treatments.


Price: $114.010
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Yes
2016-08-23 TOP PICK Cerner Corp.
CERN-Q
Zachary Curry

Their premise is basically digitizing health records. Demographically that is a good place to be. There are lots of doctors’ records that are either handwritten or digital in a format that is not compatible with others. There is a US law that says that by this year you have to have this and next year you have to have that, etc. It is a forced conversion to electronic data management and records. They’ve generated about 15% revenue growth and 20% earnings growth consistently. Over the past year they’ve moved from a one-time revenue recognition model to a subscription type model, and the stock really came off. It is now started to come back.


Price: $64.600
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Yes
2016-08-23 COMMENT Chesswood Group
CHW-T
James Telfser

A great stock. Trading at under 10X earnings with a 7.5% dividend yield that is more than covered with earnings and cash flow. This has been really getting focused on their core business of leasing and working capital loans. They deal with small and medium-sized businesses. Very smart management. He expects to see multiple expansion to 11 or 12 times earnings, a 20% gain from here not including the dividend.


Price: $10.720
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-23 COMMENT Cardinal Energy Ltd
CJ-T
Zachary Curry

Spartan Energy (SPE-T) or Cardinal Energy (CJ)?  Not a bad company, but he prefers Spartan.


Price: $9.300
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Unknown
2016-08-23 HOLD Cardinal Energy Ltd
CJ-T
James Telfser

(Market Call Minute.) 4.5% dividend yield and is very stable. Hasn’t proven out their growth by acquisition strategy versus Crescent Point (CPG-T). He is watching this.


Price: $9.300
Subject: CANADIAN
Bias: BULLISH
Owned: Unknown
2016-08-23 PAST TOP PICK Clearwater Seafoods Inc.
CLR-T
James Telfser

(A Top Pick July 29/15. Up 29.71%.) A great large moat business where they have quotas for shellfish all over the world. New quotas are not being produced, they are actually being taken away, which is causing them to have much higher barriers to entry and putting upward pressure on seafood pricing.


Price: $14.390
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-23 BUY Canadian Natural Rsrcs
CNQ-T
James Telfser

(Market Call Minute.) If you believe that energy has legs, this is the highest quality name. (See Top Picks.)


Price: $41.600
Subject: CANADIAN
Bias: BULLISH
Owned: Unknown
2016-08-23 PAST TOP PICK Cisco
CSCO-Q
Zachary Curry

(A Top Pick July 30/15. Up 12.99%.) This is like the pipeline of the Internet. It doesn’t matter whether it is wired or wireless, it is going to be good for business. They are moving from a hardware side to a services side, which gives them more recurring revenue.


Price: $30.980
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Yes
2016-08-23 COMMENT Canadian Tire Corporation Ltd. (A)
CTC.A-T
Zachary Curry

Their exposure to the economy has been better than the GDP numbers. There are concerns about their recent shift in management. Also have been pretty good on the digital side of things. They own some good brands, so there is diversification. Its really a question of exposure to the Canadian consumer, and he prefers the US consumer.


Price: $137.410
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: No
2016-08-23 COMMENT Concordia Healthcare
CXR-T
Zachary Curry

He is holding his position and evaluating the name. Was surprised that on the last results on the generic drug competition. There are concerns about debt levels and the company has some headwinds. This is in a better place than a Valeant (VRX-N) where there is potential fraud. Should their earnings progress, it will have the ability to pay down debt.


Price: $11.550
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Yes
2016-08-23 COMMENT Concordia Healthcare
CXR-T
James Telfser

Had viewed this as being undervalued given what he had thought they could generate in earnings and free cash flow. In the last 6 weeks there has been a massive deterioration in the business, where there was a generic approved for Nilandron, one of their big products. Donnatal scripts keep going down. It also had Plaquenal where competition got approved by the FDA. On top of that, you have the CFO leaving. He exited his position. Be careful on this.


Price: $11.550
Subject: CANADIAN
Bias: BULLISH
Owned: No
2016-08-23 BUY DH Corporation
DH-T
James Telfser

(Market Call Minute.) This has been beaten down too far. He still likes the assets and they have great management.


Price: $28.380
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-23 PAST TOP PICK Walt Disney
DIS-N
Zachary Curry

(A Top Pick July 30/15. Down 18.72%.) The problem really comes down to ESPN and its uncertainty on the cable side. He is more constructive on this in that ESPN could do their own streaming, and Disney take a piece of the NLB franchise. Doesn’t think people will be cutting the cord to the extent that some people think. Everything else is working.


Price: $95.970
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Yes
2016-08-23 HOLD Diversified Royalty Corp.
DIV-T
James Telfser

(Market Call Minute.) Very interesting business. Mr. Lube has got 4% same-store sales growth pretty consistently, but given the business structure, he is on the sidelines.


Price: $2.380
Subject: CANADIAN
Bias: BULLISH
Owned: No
2016-08-23 PAST TOP PICK Element Financial
EFN-T
Zachary Curry

(A Top Pick July 30/15. Down 29.55%.) Sold his holdings recently on the news that they were going to be splitting the company, and how they were going to be allocating costs, etc.


Price: $13.390
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: No
2016-08-23 SELL Empire Company (A)
EMP.A-T
Zachary Curry

This is going to have the issues of taking over Safeway, which hasn’t been going smoothly. The exit of the CEO is indicative of that. These things just don’t happen in 6 months or a year, and all of a sudden get turned around. It could take a long time to settle out.


Price: $21.910
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Unknown
2016-08-23 PARTIAL BUY Ensign Resource Service Group
ESI-T
Zachary Curry

Energy service companies have come off more so than the oil companies. Their budgets are driven by the oil companies, and also their cost structures seem to be fixed, so when the wind comes out of their sails, they still have the same cost structures. This is now at a pretty good level. You might look to pick away at these companies in the next month or so. This one is a good name and is one of the bigger ones.


Price: $7.610
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: No
2016-08-23 COMMENT First Quantum Minerals
FM-T
Zachary Curry

First Quantum (FM-T) or Teck Resources (TCK.B-T)? His view is definitely more constructive on Teck.


Price: $12.050
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: No
2016-08-23 TOP PICK Firstservice Corp
FSV-T
James Telfser

The more he gets to know the company, the more he gets to like their story. It is a high recurring revenue model. They do a lot of property management. They are able to bring services together from all over the US, and offer it at a higher margin. They then start to get into other businesses like Sentry Fire, California Closets, and they do some restoration businesses as well. They are taking some of these businesses private, which is quite accretive to the company. The company has a long runway. A very steady type business. Dividend yield of 0.9%.


Price: $64.150
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-23 HOLD General Electric
GE-N
Zachary Curry

Got rid of the divisions which had really caused them trouble. This is an industrial company, certainly on the energy and infrastructure side. High debt levels by governments and infrastructure spending will benefit them.


Price: $31.230
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Unknown
2016-08-23 BUY goeasy
GSY-T
James Telfser

(Market Call Minute.) This is always a Buy. Believes it is one of the better opportunities in Canada. Just had a blowout quarter, and the stock still isn’t showing its true fundamentals.


Price: $20.210
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-23 PAST TOP PICK Hudson Bay Co.
HBC-T
James Telfser

(A Top Pick July 29/15. Down 30.49%.) A disappointment for him. Has been out of this for a while. Had been optimistic about the push into Germany, but things in Europe fell apart very quickly. He loves their business model in buying an asset, taking the real estate, and spending it off in JVs. That makes a lot of sense. However, when you have retail sales declining globally, along with the US$ pressure, that started him questioning what the properties were worth.


Price: $18.210
Subject: CANADIAN
Bias: BULLISH
Owned: No
2016-08-23 COMMENT Home Capital Group
HCG-T
James Telfser

This has the same guys shorting this company that were ripping into Concordia Healthcare (CXR-T). The company has been struggling with loans. Be careful. It looks cheap, but it can get a lot cheaper.


Price: $25.910
Subject: CANADIAN
Bias: BULLISH
Owned: No
2016-08-23 TOP PICK Horizon North Logistics
HNL-T
James Telfser

Lost a couple of their big camps in Fort Murray, one by fire and one by smoke. Capacity utilization has been really low in the whole camps and logistics space, so that just took off a whole bunch of capacity. They were covered by insurance, and there are estimates it could be $30 million. What he likes, as compared to similar companies, is that they have a balance sheet based on an equity issue that they did at $3.75 about a year ago, so they can now rollup some of this industry and buy up some of their competitors who are struggling. There has been the big move in energy prices, you are seeing rig counts coming up again, oil production coming up in the oil sands again, and they are getting into some new businesses now where they do some manufacturing. Dividend yield of 4.55%.


Price: $1.760
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-23 TOP PICK Heroux-Devtek Inc.
HRX-T
James Telfser

A high quality industrial name. Landing gears on planes. They are the #3 producer, but are actually the most profitable in the world. Management team is very well aligned. Valuation is reasonable.


Price: $13.980
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-23 BUY Intertape Polymer Group
ITP-T
James Telfser

(Market Call Minute.) A very, very interesting name. A great growth story. They do tape which is a very stable business. Have a lot of cash to be able to go out and do things. Clean balance sheet.


Price: $21.920
Subject: CANADIAN
Bias: BULLISH
Owned: Unknown
2016-08-23 TOP PICK Keyera Corp
KEY-T
Zachary Curry

Great management team. Their business is conservative and their payout ratio is around 50%. They’ve consistently grown the dividend, 15 times since they started as a public company. They grow by taking smaller positions in plants and facilities, adding to those and eventually owning them outright. This allows them to get the experience in owning and running them. Their cost of financing is really low. Dividend yield of 3.9%.


Price: $41.140
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Yes
2016-08-23 BUY Linamar Corp
LNR-T
James Telfser

Has been buying this in the last 2 months. Valuations got so depressed on peak auto, global recession fears, Tesla, etc. They continually beat expectations, grow margins and show that they can keep up with demand and grow their content per vehicle.


Price: $53.760
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-23 HOLD LuLulemon Athletica (US)
LULU-Q
Zachary Curry

Had a really tough go with their stretch pants, management infighting, etc. Have done really well adapting to those changes, but this is a very competitive environment. Also fads are involved, and if you don’t get one right, that could be a pretty bad event. He is more on the staples side of consumer spending. Trading at 37X forward earnings, so it is expensive.


Price: $80.240
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: No
2016-08-23 BUY Magna Int'l. (A)
MG-T
James Telfser

He has been buying Linamar (LNR-T) in the last 2 months. The valuation of these stocks got so depressed on peak auto, global recession fears, Tesla, etc. They continually beat expectations, grow margins and show that they can keep up with demand and grow their content per vehicle.


Price: $52.410
Subject: CANADIAN
Bias: BULLISH
Owned: No
2016-08-23 PAST TOP PICK Mitel Networks
MNW-T
James Telfser

(A Top Pick July 29/15. Down 17.4%.) It is still cheap and he still follows it, but no longer owns it.


Price: $9.920
Subject: CANADIAN
Bias: BULLISH
Owned: No
2016-08-23 COMMENT New Flyer Industries Inc.
NFI-T
James Telfser

Trudeau announced divvying up funds towards transit, which is a definite net positive for this name. You are seeing net trend both in the US and Canada where there is an increase in spending on buses. The stock is still reasonably valued. In the short term, there is a big question mark around New Jersey, they are holding back on producing more of their New Jersey buses. Dividend yield of about 2% and this could go much, much higher.


Price: $43.500
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-23 BUY Parkland Fuel Corp
PKI-T
James Telfser

Just acquired 500 Ultramar locations. That’s a great deal for them. There are big synergies in this business, and room for this to definitely move higher.


Price: $29.230
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-23 COMMENT Potash Corp of Saskatchewan
POT-T
Zachary Curry

This is a commodity, and this company is the purest in terms of what is available in Canada. There has been a lot of pressure on the commodity. The buying has been done once or twice a year. Big buys and the prices tend to get set and stay there. At this level, it might be interesting to look at. The commodity price has come down, they have cut the guidance, and they have cut the dividend. Anywhere at these levels, you could look potentially to add to it, but he would do it with little bites at a time.


Price: $21.630
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Unknown
2016-08-23 DON'T BUY Performance Sports Group
PSG-T
James Telfser

(Market Call Minute.) This has been a really sad story because it is a great brand. It is hard to believe it is down at this level. There is just too much hair on this name, and he wouldn’t touch it.


Price: $2.330
Subject: CANADIAN
Bias: BULLISH
Owned: No
2016-08-23 BUY Power Financial Corp
PWF-T
James Telfser

Pays a great dividend which is well covered. The stock has not been performing as well as he would have hoped, but no insurance companies really are at the moment. The overall business is doing okay; they just can’t manage to string together good quarters of beating expectations. The earnings multiple is trading below its 10-year average, so this is a decent time to buy the stock and is a position that you can put away in your portfolio and forget about.


Price: $29.450
Subject: CANADIAN
Bias: BULLISH
Owned: No
2016-08-23 COMMENT RDM Corporation
RC-T
James Telfser

He likes the optionality. They do a lot of electronic checking business, and can sell units to a company to allow them to deposit cheques directly into the bank. If you need a picture of a cheque they have that technology. They deal with a lot of the biggest banks across the US. A very high recurring revenue business that generates a lot of cash flow. Has $30 million of cash in the bank. Less and less cheques are being used, which is a big knock against them. If they can use the cash in intelligent way at a reasonable valuation, the stock should react very favourably. This gives you a dividend and free cash flow along with a relatively stable, but declining business.


Price: $4.450
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-23 COMMENT Spartan Energy Corp
SPE-T
Zachary Curry

Spartan Energy (SPE-T) or Cardinal Energy (CJ)? He is very constructive on this. He likes management’s strategy and their location in Saskatchewan. Feels management has very good discipline in terms of what they want to do and how they are going to do it. Very proactive in keeping the balance sheet sacrosanct, and not paying more than cash flow. At $30 a barrel they are fine. It is expensive, but will always be expensive.


Price: $3.440
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Unknown
2016-08-23 COMMENT Teck Resources Ltd. (B)
TCK.B-T
Zachary Curry

First Quantum (FM-T) or Teck Resources (TCK.B-T)? His view is definitely more constructive on this one. It has zinc, coal, nickel. This type of company is always going to have ups and downs, but he feels the financial crisis from 2008-2009 with their debt levels, the management team came out looking much stronger. A good, well-run company.


Price: $20.940
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: No
2016-08-23 WAIT Visa Inc.
V-N
Zachary Curry

His concern right now is where do merchant fees go? In Europe, they have been a bit more aggressive in pushing them down. There could be more to go. With all the technology changing and how you pay, that is a risk for them. If we had a good market crack and the price went down, he would look at this.


Price: $80.800
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: No
2016-08-23 BUY on WEAKNESS Westjet Airlines
WJA-T
Zachary Curry

In general, he is fairly constructive on airlines. Energy prices are coming down and interest rates are at low levels. With this airline, you are getting a lot of noise of what is happening in Alberta, which has been a hurdle for them. As cycles go, this one offers a good product. The environment is right and the economy is right, so overall that growth should continue. You could wait and buy it opportunistically on bad headline news.


Price: $24.530
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Unknown
2016-08-23 BUY ZCL Composites Inc.
ZCL-T
James Telfser

He really likes this business. They got hammered pretty hard in the downturn in some of their business lines that were involved in the energy patch. This has a competitive advantage. They are 1 of 2 below ground storage tank providers in North America. That is a great competitive position. There are nice demographics in that there are Costco’s, Canadian Tires and Loblaw’s that want fuel now.


Price: $9.630
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2016-08-22 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Markets.  The conventional wisdom is that oil prices have bottomed.  What is not clear is what the recovery looks like.  Does it reach balance next year?  In the $50ish range, there is still debt stress to oil companies in the first quarter.  He does not think there has been any volatility on the last few months.  Markets came up and leveled off.  He is not sure the volatility is there and is not sure the underwriting for the banks is going to be there.  ZWB-T with a covered call overlay is the way to play the banks.  Real estate could be another headwind.  ATD.B-T have a great story – growth by acquisition.  New highs today in the stock.  He does not like the break out and so does not trade it.  He likes XST-T with ATD.B-T as a major holding as a major place to play but it is not particularly cheap right now.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: _N/A
2016-08-22 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Volatility – A bump coming in September?  He has been expecting this into the election into November.  So far it has been pretty clean.  The event he sees is the Italian referendum in October.  There is a huge potential for an anti-EU party running Italy and wanting to leave the EU.  The US election will not cause the uncertainty that it previously looked like it would.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: _N/A
2016-08-22 COMMENT A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

NASDAQ US Bank ETF?  If you search you can get a whole series.  XLF-N is the entire financial sector.  KRE-N is regional banks.  Check out ETF.COM.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: _N/A
2016-08-22 COMMENT A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Packaging Companies ETF?  There is not one.  It is too narrow.  There is a company in the US that builds customer ETFs.  He is going to get details and tweet it out.  You can make out your own basket of ETFs.  You have to open a US based investment account.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: _N/A
2016-08-22 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Educational Segment.  Why rates can rise and what to do to take advantage.  Bernanke has used this week’s speech in the past to change things.  Last week we had the minutes from the July meeting causing the market to see no raised rates.  Since then a number of Fed speakers have said it could change.  There is still only a 26% chance they raise rates in September.  He thinks the Fed are not considering the election in making interest rate increase decisions.  He thinks there is a much higher chance that rates go up in September.  He recommends sitting in US cash and make 3-4% while you wait.  DLR-T and PSU.U-T and SHV-N play the US dollar as well.  


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: _N/A
2016-08-22 N/A A Comment -- General Comments From an Expert
A Commentary
John Burke

Markets.  Lots of investors sold in May and went away or when Brexit happened, but a lot came back in.  It is all about yield.  People in Europe have been forced to pay to have their money invested.  These investors are investing elsewhere, buying stocks just to get yield.  He is afraid central banks will pull the rug out from under us.  He is not focused on a rate hike so much as the rates themselves.  European buyers are coming in and buying our treasuries. Pretty well fully invested but is avoiding high beta stocks.  Sees opportunities in the utilities sector although it has no growth so he would not want to own it now.  Oil stocks are cheap. They've rallied, but are well below their peaks.  The financial sector is cheap and he likes it although it is high beta.


Price: $0.020
Subject: US EQUITIES
Bias: CAUTIOUS
Owned: _N/A
2016-08-22 N/A A Comment -- General Comments From an Expert
A Commentary
John Kim

Market. Nothing seems to be stopping the market, which is a quandary for a lot of people, especially for a value oriented investor like himself. It has had negative earnings over the past 6 quarters, and very low growth on the economic front, and yet the market just ignores everything and continues to march higher. Normally, when things become irrational and exuberant over some point in time, it usually ends with a bubble bursting. It is hard to say if we are in that type of mode right now, because valuations are not excessive. There is a Goldilocks’ view that the US economy can continue to grow at 2%+, with ultra low rates that stay here, virtually forever, so that the markets can go endlessly higher.


Price: $0.020
Subject: NORTH AMERICAN
Bias: UNKNOWN
Owned: _N/A
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