Table View - Opinions in Detail | StockChase
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Compiling comments that experts make about stocks while on public TV.

Table View - Opinions in Detail

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Implied Signal Stock Symbol Company Comment Source Program Airdate Airdate Price Opinions $ Goal Expert Program Topic Expert's Bias Own or Relationship Actions
  
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2017-09-19 $0.020

Market. Last year, Canada was the best performing of all the developed nations in terms of our equity market. This year it is very definitely the other way. The big question is, where do we go from here. He is optimistic on the Canadian market over the next 6-12 months, principally because he is convinced we will see an improvement in oil prices that will help the energy sector. If you adjust for the change in our currency, performance has been just about the same to a Cdn$ investor as the S&P, despite the TSX lagging the S&P 500. Thinks we will see definite signs of the oil market tightening in the 4th quarter, and can see it hitting $60 in the next 6 months. Some of the numbers in the US are understated, and are constantly being revised. A very critical point was yesterday when Brent demonstrated backwardation for the 1st time since 2014, which means hedge funds will begin to look at taking long positions if that continues. He likes Canadian bank stocks very much, and is overweight in them. Results have been very good year to date. They are cheap relative to US banks, and represents good value.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2017-09-19 $0.020

Market.There are reasons to be optimistic going forward, but you have to be realistic about where equities are going. We haven’t had a correction of 5% or more for a very long time. Corrections happen all the time, and we have to expect that they are going to come from time to time. However, the underpinnings of the market are very strong. Corporate earnings are strong. We are seeing a synchronized economic expansion throughout the world. If you look at the developed world, it is hard to find a country that is not in a growth mode. Markets are very long-term vehicles. If we don’t get a correlated move between the economy and the market, we as investors think something is wrong. We have to look at things over cycles and over a long period of time. Sometimes markets get ahead of the fundamentals and sometimes the fundamentals get ahead of markets.

Gordon Reid US EQUITIES UNKNOWN _N/A View
STRONG BUY AAPL-Q Apple Market Call Tonight (BNN TV) 2017-09-19 $158.730

(Market Call Minute.) It has moved up a little in terms of market multiple, but we have repatriation out there with the iPhone 8 and iPhone 10. It has a 93% loyalty rate and there are a billion installed devices.

Gordon Reid US EQUITIES UNKNOWN Unknown View
COMMENT ABBV-N AbbVie Inc. Market Call Tonight (BNN TV) 2017-09-19 $86.370

(Market Call Minute.) A company that was spun off from Abbott Labs (ABT-N) 2 or 3 years ago. A great company, but 66% of their revenue comes from 1 drug, Humira, the best selling drug in the world.

Gordon Reid US EQUITIES UNKNOWN Unknown View
HOLD AEM-T Agnico-Eagle Mines Market Call (BNN TV) 2017-09-19 $58.250

He really likes management. They’ve done an excellent job over the last number of years of increasing production per share and cash flow per share, largely from internal organic growth. Has a good growth profile over the next 5 years. His only problem is that valuation is relatively quite high at the moment, although it deserves it. (See Top Picks.)

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Unknown View
DON'T BUY AIG-N American International Group Market Call Tonight (BNN TV) 2017-09-19 $59.490

Had owned this until about a year ago, and then moved aside. Had some difficulties with management. Even against their peer group in the insurance space, this company is not operating that efficiently.

Gordon Reid US EQUITIES UNKNOWN No View
HOLD AMGN-Q Amgen Inc. Market Call Tonight (BNN TV) 2017-09-19 $186.320

A fairly inexpensive stock from a valuation standpoint. One of the granddaddies of biotech. This is probably a good hold here. The whole biotech area is getting a bit of a bid under it. There has been more positive action within that whole sector.

Gordon Reid US EQUITIES UNKNOWN No View
COMMENT AMT-N American Tower Market Call Tonight (BNN TV) 2017-09-19 $140.980

A bit of a complicated valuation exercise when you look at it, because it looks expensive on a price/earnings ratio, but really is not. It’s treated more like a real estate investment trust. The street looks at it on an adjusted funds from operations standpoint. When you look at it that way, it compares reasonably well against its major competitors. Growing very well internationally, but stumbling a little domestically. If you take a position, do it as part of a balanced portfolio. He wouldn’t put a lot of risk capital into it.

Gordon Reid US EQUITIES UNKNOWN No View
BUY AQN-T Algonquin Power & Utilities Corp Market Call (BNN TV) 2017-09-19 $12.960

Canada has done an extremely good job of acquiring companies in the US in the utility sector. Something like 70% of this company’s earnings comes from the US. Management has done an excellent job. They have a target of increasing their dividend 10% per year over the next 5 years, and possibly longer. Dividend yield of 4.6%.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
COMMENT BA-N Boeing Market Call Tonight (BNN TV) 2017-09-19 $252.460

Owned this for many years, but just sold it a month ago, because it had done so well. As the price of something rises, its value tends to drop. This is trading at about a 50% premium to its 10-year historical average. That represents a lot of risk. He would love to buy it back, but it is a little overpriced as a stock.

Gordon Reid US EQUITIES UNKNOWN No View
COMMENT BAC-N Bank of America Market Call Tonight (BNN TV) 2017-09-19 $24.860

He continues to like this. Every 1% increase in interest rates will be beneficial to the company by about $5 billion to the bottom line. If you back that through their P&L shares outstanding, it’s about $0.50 a share. A very, very accretive thing for the company. There is lots of gas left in the banks, and particularly in this one.

Gordon Reid US EQUITIES UNKNOWN Yes View
PAST TOP PICK BIP.UN-T Brookfield Infrastucture Partners Market Call (BNN TV) 2017-09-19 $53.850

(A Top Pick Sept 21/16. Up 28%.) Just did an equity issue because of a huge backlog of projects, about $2.5 billion. If he had to pick one stock to own over the next number of years, it would be this. They increased their dividend over 10% for the last 8 years, and expects they will continue to do that. The #1 infrastructure stock globally. Dividend yield of 4.1%.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
BUY BNP-T Bonavista Energy Corp Market Call (BNN TV) 2017-09-19 $2.920

Management has done a very good job of concentrating assets in their 2 key areas. Had some nervousness over the balance sheet, but that is improving. He is a little more bullish on oil, than natural gas, but he would buy this today. (See Top Picks.)

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC No View
BUY BNS-T Bank of Nova Scotia Market Call (BNN TV) 2017-09-19 $77.320

Hurricane impact? In the International segment, which represents just over 30% of their earnings, the Caribbean is actually quite small. The biggest exposure is Jamaica, which he doesn’t think was particularly hit. He wouldn’t be unduly concerned. He likes this bank very much at these levels.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Unknown View
PAST TOP PICK C-N CitiGroup Market Call Tonight (BNN TV) 2017-09-19 $71.150

(A Top Pick Oct 18/16. Up 47%.) With the Fed moving, and the banks repairing their balance sheets, he knew things were going to get better.

Gordon Reid US EQUITIES UNKNOWN Yes View
TOP PICK CELG-Q Celgene Corp Market Call Tonight (BNN TV) 2017-09-19 $143.470

This has done extremely well. It is growing quickly. Has a good pipeline with 4 drugs that he believes could be $1 billion or more in revenue. The biggest property they own is Revlimid. They concentrate on cancer treating drugs. Not inexpensive, but is reasonably priced. Thinks that next year they will do $8 a share in earnings, less than 20X, and growing at a rapid rate. (Analysts’ price target is $156.)

Gordon Reid US EQUITIES UNKNOWN Yes View
BUY CM-T Canadian Imperial Bank of Commerce Market Call (BNN TV) 2017-09-19 $107.680

He would recommend this at these levels. The average multiple tends to be just short of 12X earnings for the banks. The acquisition in the US was a good move. Over time, it will make investors feel more comfortable that there is some diversification out of Canada. Feels there is some room for multiple expansion. Dividend yield of 4.9%.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Unknown View
HOLD CNQ-T Canadian Natural Rsrcs Market Call (BNN TV) 2017-09-19 $40.490

Suncor (SU-T) or Canadian Natural Resources (CNQ-T)? Both companies, relative to the other stocks in the energy index, have performed pretty well. From this point on, he likes both, and is hard-pressed to tell you which one he would choose. Both have very good growth profiles. This one has made acquisitions recently. They are both very good on M&A on an opportunistic basis. Their balance sheets have been improving steadily. Because they have both held their ground so well, there are better opportunities in some of the intermediate space, in terms of capital gains.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
COMMENT CNR-T Canadian National R.R. Market Call (BNN TV) 2017-09-19 $100.740

His preferred choice in rails, and his biggest investment in that sector. They have a tendency to outperform their guidance, and thinks they will do it again this year. Very strong cash flow growth. Good operating ratio performance. Because of the free cash flow growth, the dividend keeps constantly being increased.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
HOLD CPG-T Crescent Point Energy Corp Market Call (BNN TV) 2017-09-19 $9.090

Had owned this, but sold it at around $17 earlier this year. He was concerned about oil prices. Investors are really being careful about having good balance sheet companies. If you have some optimism on oil prices as he does, he would probably hold onto this. It has been a little unpopular with institutional investors because of all their acquisitions. There are better stocks around if you want to buy one. Dividend yield of about 4%.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC No View
DON'T BUY CSCO-Q Cisco Market Call Tonight (BNN TV) 2017-09-19 $32.490

This probably hit its peak 15 or 20 years ago. It was one of the leaders in computer systems, switches and routers. Since then, it has struggled to find its place. It ran into stiff competition, and then fell behind. There have been resurgences from time to time, but it really hasn’t made any headway for many years. The stock has moved, but more on an emotional/sentiment basis.

Gordon Reid US EQUITIES UNKNOWN No View
DON'T BUY EFX-N Equifax Inc. Market Call Tonight (BNN TV) 2017-09-19 $94.870

He wouldn’t go anywhere near this company following their problems with the cyber attack. You just don’t know what is going to happen. In these situations, especially in the US, a very litigious environment, there is going to be a significant amount of piling on here.

Gordon Reid US EQUITIES UNKNOWN No View
PAST TOP PICK ENB-T Enbridge Market Call (BNN TV) 2017-09-19 $50.610

(A Top Pick Sept 21/16. Down 9%.) Out of favour and is not quite sure why. During this time, they did the Spectra merger. Looking at all the major energy companies globally, including infrastructure, this is now the 8th largest. It is the largest energy infrastructure in the US. Now is a very good time to be picking it up. Dividend yield of 5%, and they have a growth target of 10%-12% a year for the next 8 years. The bulk of their cash flow is covered by long-term contracts.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
BUY FB-Q Facebook Market Call Tonight (BNN TV) 2017-09-19 $172.520

This has a lot of runway in front of it. It has appreciated very quickly from a price standpoint, but valuation metrics have become more compelling. For that to happen, it means the fundamentals have risen at a faster pace than the price. They’ve made a very good inroad into artificial intelligence. Their product, Oculus is going to be very important for them. Instagram is doing extremely well.

Gordon Reid US EQUITIES UNKNOWN Yes View
COMMENT FTS-T Fortis Inc. Market Call (BNN TV) 2017-09-19 $44.530

He likes this very much. They’ve done a great job in making acquisitions in the US. This is one of the dividend aristocrats of Canada. Thinks they’ve increased dividends 42 years in a row. It is not all that expensive, and is a great, long term investment.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
DON'T BUY G-T Goldcorp Inc Market Call (BNN TV) 2017-09-19 $15.760

This has been suffering. Selling at its relative valuation, a discount. A bit of a “show me” stock at the moment. Thinks management has a very good long-term plan, but investors are kind of sceptical in the short term. There are better purchases right now. (See Top Picks.)

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Unknown View
DON'T BUY GE-N General Electric Market Call Tonight (BNN TV) 2017-09-19 $24.200

(Market Call Minute.) Changing CEOs, which is a good thing. He wouldn’t touch this yet. The first thing that happens when a new CEO comes on is that they throw everything out, plus the kitchen sink.

Gordon Reid US EQUITIES UNKNOWN Unknown View
COMMENT IPL-T Inter Pipeline Market Call (BNN TV) 2017-09-19 $23.810

Has been out of favour and is the one pipeline he doesn’t own. In the short term, it has limited growth prospects which will impact the dividend growth potential. On a 1-year basis, it doesn’t look particularly attractive relative to a Pembina Pipeline (PPL-T), an Enbridge (ENB-T) and a Trans Canada (TRP-T).

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC No View
TOP PICK LEA-N Lear Corp. Market Call Tonight (BNN TV) 2017-09-19 $166.300

Automotive seating systems. Trading at less than 9X earnings. Growing rapidly and well-managed. The auto industry is more than just North America. About 17 ½ million units out of N.A., 22 million out of Europe and about 26 million out of China. Dividend yield of 1.2%. (Analysts’ price target is $167.)

Gordon Reid US EQUITIES UNKNOWN Yes View
COMMENT MFC-T Manulife Financial Market Call (BNN TV) 2017-09-19 $24.280

Stay with Manulife (MFC-T) or go with Toronto Dominion (TD-T)? Currently prefers banks to the lifecos. Of the 2 major Canadian lifecos, he prefers Sun Life (SLF-T), which has more consistent earnings growth ahead of them. Manulife has just changed CEOs, and thinks the street will wait to look at the execution and changes in strategy in the next while.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Unknown View
PAST TOP PICK MX-T Methanex Corp Market Call (BNN TV) 2017-09-19 $64.330

(A Top Pick Sept 21/16. Up 67%.) Had a tremendous return, and he would continue to own it. The outlook for methanol is excellent, particularly for this company which is on a large expansion program for the next number of years. Their CapX is behind them and they can increase capacity by bringing back one of their Chilean plants on stream, at a very reasonable cost. Generating a tremendous free cash flow and are buying back a lot of stock.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
TOP PICK MX-T Methanex Corp Market Call (BNN TV) 2017-09-19 $64.330

The world’s largest producer of methanol, but it tends to track energy prices broadly. Feels there is excellent demand growth over the next number of years, which this company will participate in. They’ve done all of their greenfield expansion over the last number of years, so will be generating a lot of free cash flow in an environment where he expects methanol prices to be between $350 and $400 over the next 5 years. Dividend yield of 2.3%. (Analysts’ price target is $57.)

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
COMMENT NA-T National Bank of Canada Market Call (BNN TV) 2017-09-19 $57.570

This is his biggest holding amongst the banks. He really likes management, which has done a really good job. Dividend yield of about 4%.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
PAST TOP PICK OI-N Owens-Illinois Inc. Market Call Tonight (BNN TV) 2017-09-19 $24.140

(A Top Pick Oct 18/16. Up 39%.) The largest maker of glass products in North America, South America and Europe. They have reinvigorated their company to a point now where they produce a lot of cash. Their cash flow yield is 12%-13%, which allows them to pay down their debt at a fairly good clip. Very inexpensive trading at less than 10X earnings.

Gordon Reid US EQUITIES UNKNOWN Yes View
TOP PICK PCLN-Q Priceline.com Inc. Market Call Tonight (BNN TV) 2017-09-19 $1859.780

This has been one of the best performing stocks in the NYSE’s history. Had owned this about 15 years ago at $19, but the multiple is lower today than it was then. They will make somewhere in the neighbourhood of $78 a share in earnings this year, and may even touch $90 a share next year. They’ve been very acquisitive over their lifespan. (Analysts’ price target is $2,100.)

Gordon Reid US EQUITIES UNKNOWN Yes View
TOP PICK PEY-T Peyto Exploration & Develop. Market Call (BNN TV) 2017-09-19 $20.910

The lowest cost gas producer in Alberta. He really likes management. They’ll produce BOE’s next year close to 120,000 a day with 53 employees, where over the last 5 years it was between 50 and 55. Very efficient. Natural gas prices have been improving lately. Dividend yield of 6.4%. (Analysts’ price target is $30.)

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
DON'T BUY PYPL-Q PayPal Holdings Inc. Market Call Tonight (BNN TV) 2017-09-19 $63.830

There are lots of options in the market for mobile pay. Lots of things are coming to market that are merging technology with the convenience of our money. With all these choices, we have to look at the business plan. Using PayPal is a very convenient method. However, it is a very, very expensive stock. Trades well over 40X earnings.

Gordon Reid US EQUITIES UNKNOWN Unknown View
DON'T BUY QCOM-Q Qualcomm Market Call Tonight (BNN TV) 2017-09-19 $52.300

(Market Call Minute.) Sold his holdings in 2015 at about $70. Didn’t like what was happening in China. This has also spilled over into North America, where Apple (AAPL-Q) is pushing back on Qualcomm about paying royalty and licensing fees. He wouldn’t go near this.

Gordon Reid US EQUITIES UNKNOWN No View
DON'T BUY RAD-N Rite Aid Corp. Market Call Tonight (BNN TV) 2017-09-19 $2.400

The deal to be acquired by Walgreens (WBA-Q) didn’t get off the ground. There were some antitrust issues. However, they struck a deal to buy individual stores. It is going to take Walgreens from about 8000 stores to about 10,000, which will compete pretty much head-to-head with CVS (CVS-N). These stores are not as efficient and need some work. Also the company needs some capital, because they need to improve their offering.

Gordon Reid US EQUITIES UNKNOWN No View
DON'T BUY RTN-N Raytheon Market Call Tonight (BNN TV) 2017-09-19 $183.250

A defence stock which has done very well. 30% to 40% would be a pretty good description of the appreciation of this whole basket of defence stocks. Personally, he would shy away. There is a bit of a bid under the stocks because of what is happening in North Korea and that Pres. Trump is very much a hawk and wants to bolster defence spending. But you have to be very, very careful about valuation, and not buy at the end of a trend.

Gordon Reid US EQUITIES UNKNOWN No View
HOLD RY-T Royal Bank Market Call (BNN TV) 2017-09-19 $92.980

He likes this very much. Had very good results in the 2nd quarter, and is certainly benefiting from the US acquisition. A well diversified bank. Selling at the highest premium to the average PE multiple of the Canadian banks, which it tends to do.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
HOLD SU-T Suncor Energy Inc Market Call (BNN TV) 2017-09-19 $41.660

Suncor (SU-T) or Canadian Natural Resources (CNQ-T)? Both companies, relative to the other stocks in the energy index, have performed pretty well. From this point on, he likes both, and is hard-pressed to tell you which he would choose. Both have very good growth profiles. They are both very good on M&A on an opportunistic basis. Balance sheets have been improving steadily. This one is bringing Fort Hills on stream by the end of this year, which will be a significant contributor to cash flow growth. Because they have both held their ground so well, there are better opportunities in some of the intermediate space, in terms of capital gains.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
SELL T-N A T & T US Market Call Tonight (BNN TV) 2017-09-19 $38.210

This has a bit of a headwind. In a rising interest rate environment, telecoms tend not to do well. In the midst of buying Time Warner, which has not been approved yet. They are making decisions on whether they want to be a landline company or a cell company, which will affect their future fundamental growth. He has stepped away from telecoms, because there is a lot of unknowns, some of it with regulators.

Gordon Reid US EQUITIES UNKNOWN No View
COMMENT T-T Telus Corp Market Call (BNN TV) 2017-09-19 $44.590

He likes this very much. This and Bell Canada (BCE-T) would be his top 2 choices in the telecom sector. If you want to stick a stock away for the next 10 years, his choice would be Telus. He takes his hat off for their buildout of the fibre to the home over a five-year timeframe, versus BCE which is over a ten-year timeframe. Currently they have guidance for a 7%-10% annual increase in dividends. When the buildout is finished in 2020-2021, he thinks they’ll be able to renew that 10% a year dividend growth rate.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Unknown View
PAST TOP PICK TPH-N Tri Point Homes, |Inc Market Call Tonight (BNN TV) 2017-09-19 $13.110

(A Top Pick Oct 18/16. Up 3%.) A relatively small homebuilder in a handful of states, primarily in the south west, and branded under a lot of different names. They also have some exposure to Texas. Thinks the whole group will move because household formation is still in a low trend. It has moved in the last 3 decades between 500,00 and 2.5 million units a year. Right now, it is just over 1 million. To keep up with population growth, 1.5 million has to be done. These builders are all very inexpensive, most trading below 10X earnings, and he thinks they have a 15%-18% growth metric in front of them. This is a good entry point.

Gordon Reid US EQUITIES UNKNOWN Yes View
BUY TRI-T Thomson Reuters Corp Market Call (BNN TV) 2017-09-19 $55.930

Generating a lot of free cash flow, buying back stock and increasing the dividend. The revenue growth is somewhat limited at the moment in various segments. Have done an extremely good job on cost savings, and the margins have been expanding for 2 quarters in a row.

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Unknown View
HOLD UNH-N UnitedHealth Group Inc Market Call Tonight (BNN TV) 2017-09-19 $194.650

A fine company, but his choice has been Anthem (ANTM-N). Has great admiration for this company. They are very good managers. They have the attributes that are really important from a risk/rewards standpoint in the healthcare insurance space, and that is size and scale. They have enough risk aversion that you should be safe holding this.

Gordon Reid US EQUITIES UNKNOWN No View
TOP PICK YRI-T Yamana Gold Inc. Market Call (BNN TV) 2017-09-19 $3.390

Has been a disappointing performer and selling at a discount. There was a lot of worry amongst investors and some analysts about the balance sheet because of their building of the new mine Serra Morro, which is now 90% complete, and will increase their cash flow 20%, if not 30% when it is in full production. People are worried it might breach their debt covenants, resulting in an equity issue, but he heard they had hedged 60% of next year’s gold production, and 70% of copper production, at prices above what they had budgeted for. In addition, Serra Morro will see them increase their silver production by about 40%. Dividend yield of 0.8%. (Analysts’ price target is $3.50.)

Nick Majendie CANADIAN LARGE CAUTIOUSLY OPTIMISTIC Yes View
N/A A Commentary A Comment -- General Comments From an Expert Berman's Call 2017-09-18 $0.020

Markets.  Everyone is wanting to buy into dips but the markets keeps grinding higher.  He does not think the valuations are attractive however.  Quantitative tightening could be negative for markets.  It is huge to the markets that Trump brings tax reform.  Perhaps we will get a ‘sell the news’ impact. 

Larry Berman CFA, CMT, CTA NORTH AMERICAN - LARGE & ETFs UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Berman's Call 2017-09-18 $0.020

Infrastructure ETF recommendation.  He is not sure there is one that is hedged to the Canadian dollar.  A lot of ETFs leave out the engineering companies.  ZGI-T and CIF-T are two Canadian ETFs but are not hedged.

Larry Berman CFA, CMT, CTA NORTH AMERICAN - LARGE & ETFs UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Berman's Call 2017-09-18 $0.020

A full cost mutual fund is probably 2.5-3% cost.  You get active management.  An index ETF is lower cost but you don’t get the active management.

Larry Berman CFA, CMT, CTA NORTH AMERICAN - LARGE & ETFs UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Berman's Call 2017-09-18 $0.020

Educational Segment.  (weekly series) What Investor Personality Are You?:  2. The Preserver / Conservative.  They have typically done well in their business or career and have always been conservative.  As they get older they get TOO conservative.  They tend to have more fixed income.  Over the last 30 years they would get 6-7% returns.  Over the next 10 years you are looking at a return of 2.5% before fees with higher risk.  He does not think you can re-think what kind of investor you are. 

Larry Berman CFA, CMT, CTA NORTH AMERICAN - LARGE & ETFs UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Berman's Call 2017-09-18 $0.020

Move mutual funds to a Canadian Bank ETFs? It is not a good idea to concentrate your portfolio into one sector.  You should be globally diversified also.  ZWU-T gives you utilities and telcos.  It is 20% global.

Larry Berman CFA, CMT, CTA NORTH AMERICAN - LARGE & ETFs UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2017-09-18 $0.020

Oil a year from now.  It will bottom late in the year and then the question is what the weather will be like.  If we had a cold winter the price of oil can react quite quickly to the upside, as well as Nat Gas.  He thinks tax loss this year will be severe.  Then we get $60 oil by Q3 and $80 in 2020 (WTI).  You would need a major disruption of supply for oil to go higher.  He thinks he will make November buy recommendations.

Josef Schachter ENERGY & ENERGY SERVICE STOCKS BEAR on OIL _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2017-09-18 $0.020

Big Oil Companies and Electric Cars.  We need electric cars because we cannot find enough oil otherwise.  Oil will still be used in trucking, rail and so on.  We need a third of the vehicles on the road to be electric.  They are not a competitive threat.

Josef Schachter ENERGY & ENERGY SERVICE STOCKS BEAR on OIL _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2017-09-18 $0.020

Markets.  The case for the bulls: (1) The EIA said in the second quarter demand was stronger than expected; (2) OPEC wants to extend the 1.2 Million barrel a day cut past the end of Q1; (3) The Hurricane has impacted US supply; (4) US production has been flat for 5 months.  But then if you go into the data, he is bearish because of OPEC numbers.  They put in their quota in Q1 2017 as 32.1 Million barrels.  Lybia had a disruption earlier but now have 300,000 more coming on by year end.  Nigeria raised production by 138,000 and are talking about going much higher by year end.  The OPEC numbers are just talk.  We are looking at less demand for oil in North America going into the fall.  Numbers should go up seasonally.  Stocks usually bottom in mid November into December.  He is looking at what happened in ’06 and ’08 to oil and/or oil services stocks.  He suggests that you let the first 10% go to make sure oil stocks are really going up.  He sees a $42 oil price in October and perhaps going down to the $30s later in the year due to inventory builds.

Josef Schachter ENERGY & ENERGY SERVICE STOCKS BEAR on OIL _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2017-09-18 $0.020

Market. This is the 3rd largest bull market in history. We would be silly not to have a little cause for concern, given how long this bull market has been going on. He keeps a close eye on the yield curve, and an inverted yield curve has been a very good indicator of an impending recession. The inversion of the yield curve generally leads the recession by about 12 months. Based on his math, we are probably about 3-4 rate rises away from that happening, which in itself would probably take about one year. With that, we are probably 18-24 months away from the next recession, and he is cautiously optimistic as the equity markets seem to be quite strong lately. He is seeing short term rates rising more quickly than the 10 or 30-year, an indication of a much larger macro environment where growth is really slow. We are not seeing that in Canada in the short term, but there is a whole slew of reasons why world macro growth is likely to keep trending lower. In that environment, 10-year and 30-year rates will drop. Warren Buffett has suggested that if we are in a lower for longer interest rate environment, he believes markets are cheap, and has been putting cash to work in the market, which is really at odds with him being a value kind of guy.

Jason Del Vicario NORTH AMERICAN (GROWTH) CAUTIOUSLY OPTIMISTIC _N/A View
COMMENT AMZN-Q Amazon.com Market Call Tonight (BNN TV) 2017-09-18 $974.190

One of the really interesting things is their economic moat. They own the online consumer, certainly in North America. On companies with wide economic moats, don’t get too cute on what price you should pay. Recent quarterly results were actually abysmal from a net income perspective. If looking to trade in the short term, you might wait for a lower entry point, but for a long-term hold, you could buy it at this level.

Jason Del Vicario NORTH AMERICAN (GROWTH) CAUTIOUSLY OPTIMISTIC Yes View
PAST TOP PICK ATD.B-T Alimentation Couche-Tard (B) Market Call Tonight (BNN TV) 2017-09-18 $60.040

(A Top Pick Aug 19/16. Down 3%.) Has basically gone nowhere over the last 2 years. However, their earnings continue to grow. A tremendously consistent return on equity generator at around the low 20%. If you can buy this below $60, you should. All it takes is for them to come out with an announcement of taking over another chain of convenience stores.

Jason Del Vicario NORTH AMERICAN (GROWTH) CAUTIOUSLY OPTIMISTIC Yes View
COMMENT BAM.A-T Brookfield Asset Management (A) Market Call Tonight (BNN TV) 2017-09-18 $49.350

A premier asset manager. They have the renewable partners along with all sorts of entities. His only caveat is that they seem to be always raising capital. When they go to the capital markets, that depresses the price in the short term. This is not cheap.

Jason Del Vicario NORTH AMERICAN (GROWTH) CAUTIOUSLY OPTIMISTIC Unknown View
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