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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) 2015-01-27 $0.020

Why is there such a large market for low yielding bonds of 1% or less? The main answer is liquidity. In GICs, you are locking in your money. What if you need your money in 6 months time?

Joey Mack FIXED INCOME UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2015-01-27 $0.020

Interest Rates. The drop of interest rates by the Bank of Canada was a complete surprise. Feels it was the right move. With the situation on real estate in Alberta and the job losses, the move was prudent to prime the pump a little bit. It was a little insurance to help release a little more growth. Expects there will be at least one more cut, if not 2, given the way the market is moving right now. We had a pretty big miss on inflation numbers on Friday when that number started to tick down, Bank of Canada’s primary responsibility is maintaining inflation in the 1%-3% range. Thinks employment numbers in January will not be good.

Joey Mack FIXED INCOME UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2015-01-27 $0.020

Bonds. Global government bond yields are at, or near record lows. However, you don’t want to not be in this market now, because when everything else falls apart, this is the market that is going to perform. From a diversification standpoint and your overall portfolio, you definitely want to have some government fixed income and some long-term bonds to balance out the rest of your returns. It has really been a capital appreciation game for the last several years, and he thinks this can continue. In the long run, he thinks the bond market will beat cash. Compared to Europe and Japan, we can still move quite a bit lower, and still generate some pretty good returns for your portfolio. He is more inclined towards corporate and provincial.

Joey Mack FIXED INCOME UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2015-01-27 $0.020

What do “D+18” and “FF” mean in corporate bonds? FF is a “Fixed Floater”, which means you have a fixed coupon for the 1st period, after which you have a floating coupon. A pretty complex security, so this is one where you want to talk to your advisor to make sure you know what you are getting into. In Canada the “Fixed Floater” typically gets called. In Europe and America it is not so much the case. Those Fixed Floaters are subordinate bonds of the financial companies, not senior credits. The D+18 means the issuer can Call that bond at any time. They take the then Canada yield at 18 basis points to generate a new price. Typically the 18 basis points is well below what the bond was issued at. This rarely, rarely happens.

Joey Mack FIXED INCOME UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2015-01-27 $0.020

3-12 month effects from the recent Bank of Canada rate cut and the European Quantitative Easing on Canadian markets? In his opinion, a lot of the rally in the equity markets has been driven by central bank policies. They have inflated asset prices, and equity markets are one component of that. The European move probably makes Canada look more attractive as a place to invest in. However, Canada is cutting rates because they see sliding growth, which is generally not good for corporate earnings or equities. He doesn’t think rate cuts are going to help drive the TSE further.

Joey Mack FIXED INCOME UNKNOWN _N/A View
BUY A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2015-01-27 $0.020

Ontario government bonds? This is probably the credit to Buy right now when you look at what is available. BC, Alberta and Saskatchewan trade at well below what Ontario does. Ontario and Manitoba are the ones that you want to look at right now.

Joey Mack FIXED INCOME UNKNOWN Unknown View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2015-01-27 $0.020

Are Strip Bonds a viable investment option? Canada has one of the most well-developed strip bond markets in the world right now. Effectively you are going from an interest bearing instrument to a compounding instrument. For example, you are buying $100 that comes due in 2025, and today you only pay $.70 on the dollar for that. It’s a great way to lock in a rate of return and a great way to compound your interest in a tax-exempt account. You don’t want to do this in a taxable account as even though you are not receiving any interest, you have to pay tax on it every year.

Joey Mack FIXED INCOME UNKNOWN _N/A View
PAST TOP PICK A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2015-01-27 $0.020

(A Top Pick Feb 24/14. Up 13.17%.) Ville de Montreal 3.5% Sep 1, 2023. This one outstripped what the overall market did. This still looks relatively cheap compared to provincials.

Joey Mack FIXED INCOME UNKNOWN Yes View
BUY A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2015-01-27 $0.020

Rate reset preferreds? The preferred share market is very cheap right now. They really haven’t followed the rally in bonds at all. These are perpetual securities. As much as they have lower interest rates (because a dividend does reset every 5 years), it comes along with some Call risks and a lot of credit risks, because it could remain outstanding forever. They are a good investment, and up to 25% of your fixed income portfolio could be in these. You want to hold them in your taxable portion because of the advantages of the dividend tax credit. Be selective and stay with investment-grade of P2 or better.

Joey Mack FIXED INCOME UNKNOWN Unknown View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2015-01-27 $0.020

Markets. People were hoping they could finish 2014 with some great holdings and some great returns that they had had for the whole year. The minute the calendar changed, there was a big repositioning amongst a lot of money managers, and this is having a lot of repercussions now. If you look back 30 years at the Canadian market, there were 3 major eras. 1.) There was the whole restock piling of China in the last 7 years and we outperformed the S&P 500 for some period of time. 2.) There was the whole restocking in the 80s as well as some of the postwar periods as well. The commodity cycle was starting to show a lot of weakness about 3 years ago. 3.) This then started showing up in stock prices and in oil, probably in earnest about a year ago. We are now at a point where if oil can consolidate here and give us some breathing room for a little while, we might see a bottoming process here. With the extra drop-down in the Cdn$ after the bank announcement, we are getting an equilibrium here where the question is, do you want to buy a beaten up Canadian infrastructure stock or do you want to convert the currency, hope for some more downside in the Cdn$ and maybe pick up a US bank or a US growth name. This makes it even more confusing for portfolio managers and investors.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2015-01-27 $0.020

Should I purchase US stocks in US$ or Cdn dollars? He would prefer the US market and a majority of the US names over the Canadian names. Staying in US$ and the US market is still preferable. However, the marginal benefit for the average investor is getting a little long in the tooth.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS _N/A View
BUY AAPL-Q Apple Market Call Tonight (BNN TV) 2015-01-27 $109.140

Half the people think the iWatch is going to be a flop and the other half thinks it is going to be one of those sneaky hits that people just can’t live without. He thinks the stock will trade up because 1) most of the analysts are behind the ball on this and they’ll all raise their targets next week, and he thinks it trades up to $120 in the 1st quarter. The iWatch is coming out in early April, later than everybody expected. A very defensive name to him.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
PAST TOP PICK ATD.A-T Alimentation Couche-Tard (A) Market Call (BNN TV) 2015-01-27 $47.770

(A Top Pick Feb 24/14. Up 9.48%.) Nov 1, 2019, 3.19%. At that time, he was a little nervous about rates rising which is why he went for the 5 years. Also, on a spread basis, he thought it looked pretty attractive.

Joey Mack FIXED INCOME UNKNOWN Yes View
PAST TOP PICK ATD.B-T Alimentation Couche-Tard (B) Market Call Tonight (BNN TV) 2015-01-27 $47.600

(A Top Pick Feb 6/14. Up 75.43%.) The Pantry acquisition made a lot of sense. It is amazing to see a Canadian company that is so well regarded globally. He still buys this when new money comes in to his accounts. Not too late to get into it.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
COMMENT AXP-N American Express Market Call Tonight (BNN TV) 2015-01-27 $82.400

This is not growing at the same massive rate that you are seeing with Visa (V-N) and MasterCard (MA-N). The issue is that they want to keep their service level very high and they want to cater to the elite high end customer, so they really have to walk a fine balance between cutting costs. Their mobile initiatives are excellent. They are also doing Optblue, going after the small merchants, which could be very large. Valuation is pretty attractive versus its 2 rivals. Owning all 3 would not be a bad play either.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
PAST TOP PICK BA-N Boeing Market Call Tonight (BNN TV) 2015-01-27 $132.480

(A Top Pick Feb 6/14. Up 10.54%.) They capitalized a lot of the costs in building the 787’s, and now they are delivering them. The backlog goes out years. The cash flow will be astounding. They are going to have to do something with that cash and he imagines that it will be returned to the shareholders through buybacks or an increase in the dividends. This is an absolutely phenomenal core holding to have.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
DON'T BUY BBD.B-T Bombardier Inc (B) Market Call Tonight (BNN TV) 2015-01-27 $2.790

This has been really frustrating for a lot of Canadian investors. They have just come up with a pretty major announcement on shelving their project and laying off people. Wait until it starts to turn up before thinking about buying.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS No View
DON'T BUY BBD.PR.C-T Bombardier Inc Market Call (BNN TV) 2015-01-27 $17.270

What are the chances of the dividend being cut? They are cumulative, so does this is help the situation? Because they are preferred, the company cannot just cut dividends. These shares have to be paid 1st and then the common shares afterwards. The fact that they are accumulative is also positive. They don’t have to pay you a dividend in a quarter, but if they don’t they still owe you the money and it accumulates over time. The risk is what if this company defaults, which could very well happen with this company? It is currently well into junk territory.

Joey Mack FIXED INCOME UNKNOWN No View
BUY BLK-N Blackrock Inc. Market Call Tonight (BNN TV) 2015-01-27 $351.480

Doesn’t follow this closely, but would be absolutely happy to continue holding if he did own it. He continues to like their iShares ownership franchise. He wouldn’t be afraid to pick it up here and hold for a while.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS No View
TOP PICK CBI-N Chicago Bridge & Iron Co. Market Call Tonight (BNN TV) 2015-01-27 $39.000

He gives this with a strong advisory to keep your position very small as an initial position. Shares sold off 55% since its highs. Most of the Street is readjusting down on it. He thinks it has been discounted down to a much more onerous scenario than what might play out. Most of their business is from the downstream liquefied gas. The riskier part is not a big a part of their business. Yield of .72%. Only take a 1% position in this and make sure you have a stop in it.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
COMMENT CGX-T Cineplex Inc Market Call Tonight (BNN TV) 2015-01-27 $45.610

Very well-managed. They are doing a lot of initiatives in the VIP theatres, a lot of things with their Scene card, loyalty programs. Recently announced the new Wreckroom concept. They are going to succeed.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Unknown View
HOLD CNR-T Canadian National R.R. Market Call Tonight (BNN TV) 2015-01-27 $85.160

This is still his preferred rail name. If you pay too much attention to the research, it will tell you it is overvalued and you get nervous. He has just kind of put this thing away, and his Stop will tell him when he is getting into the Yellow zone.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
COMMENT CSU-T Constellation Software Inc. Market Call Tonight (BNN TV) 2015-01-27 $365.630

This is a growth by acquisition. There is going to come a point where there is compression in the earnings, but the whole sector is not experiencing this right now. The whole sector’s in a bull market and it is going to stay there.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
HOLD FFH-T Fairfax Financial Market Call (BNN TV) 2015-01-27 $664.090

2021 bond paying 6.4% per annum. Fairfax is one of those unique credits in the bond market. It is BBB, so it is still an investment great company. This is a great one to look at. It has had a pretty good run, but offers a pretty decent little spread over Canada bonds right now.

Joey Mack FIXED INCOME UNKNOWN Unknown View
COMMENT FIE-T iShares Cdn Financial Monthly Income ETF Market Call (BNN TV) 2015-01-27 $7.040

These iShares basically take all the dividends, repayments, etc., so the yields can get quite high. Pretty much a flow through. This gives you all of the big banks and the big insurers in Canada along with bonds and preferred shares. It is kind of a funny blend and not one he would recommend.

Joey Mack FIXED INCOME UNKNOWN No View
DON'T BUY FXF-N CurrencyShare Swiss Franc Market Call Tonight (BNN TV) 2015-01-27 $108.260

There is a school of thought that the Swiss are being brutally honest and getting ahead of the game by un-pegging the franc from the euro. This whole central banking coordination is getting very long in the tooth and getting very fragile. Why would you want to bother playing something that has some of the moving parts that are completely out of your control? He would just want to avoid this space.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS No View
TOP PICK FXM.A-T First Asset MorniingStar Canada Value Market Call Tonight (BNN TV) 2015-01-27 $14.320

2 things are facing the average investor. Do want to take that marginal dollar and convert it into US to buy what he thinks is still a very dynamic market. This ETF is based on the MorningStar CPM system, which is well-known with the Bay Street crowd. It is a quant series of factors that looks for valuation and analysts’ upgrades, and narrows it down to 30 stocks. It is 7% in energy where the TSX is 22%.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
COMMENT GIB.A-T CGI Group (A) Market Call Tonight (BNN TV) 2015-01-27 $46.920

Doing very well and executing in all areas. A major benefit to them is there international business. Only around 20% of their revenue is from Canada, so you are getting a really good clip on the currency. They continue to have a very big business relationship with Bell Canada (BCE-T).

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS No View
COMMENT MFC-T Manulife Financial Market Call Tonight (BNN TV) 2015-01-27 $20.440

This is under a lot of pressure. The interest rate scenario is obviously not positive for insurance companies. The CEO wants to get the company up to $4 billion in core revenue, and right now they are at about $3 billion. They are going to need a lot of things to go right in order to get the last billion dollars squeezed out. He is right on the edge about being nervous in owning this name. 50% of their revenues are coming in from abroad including the US and Asia. They need a better market and they need rates to go up for them to do much better from here.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
COMMENT QCOM-Q Qualcomm Market Call Tonight (BNN TV) 2015-01-27 $71.770

He doesn’t like to own a name where there are all kinds of exogenous factors that he can’t control. When he heard that China was taking this company to task, it looked like it was going to be a bit of a question mark for a while. Also, it hadn’t moved for quite a while. The most recent issue is that Samsung is not going to use their chipset, but Apple is. Because of this, there will be a tug-of-war.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS No View
TOP PICK RON-T Rona Inc Market Call (BNN TV) 2015-01-27 $12.590

5.4% bond maturing Oct 20/16. (He is biased towards the short term because the market still feels fairly expensive. Corporate credit still offers pretty good value.) This is a little under 2 years and yielding over 3% while Canada bonds offer 5%, which is a huge yield pick up. However, it is not an investment great company. They have had some pretty good numbers as of late. He is pretty confident they will be able to refinance fairly easy come 2016.

Joey Mack FIXED INCOME UNKNOWN Yes View
TOP PICK RUS-T Russel Metals Market Call (BNN TV) 2015-01-27 $24.330

6% bond maturing April 19/22. (He is biased towards the short term because the market still feels fairly expensive. Corporate credit still offers pretty good value.) They have their challenges right now. They are a metals business, so a big part supports oil and gas, but on the other hand there are a lot of maintenance products they provide. Pretty low levered and has a pretty strong balance sheet.

Joey Mack FIXED INCOME UNKNOWN Yes View
PAST TOP PICK S-T Sherritt International Corp. Market Call (BNN TV) 2015-01-27 $2.140

(A Top Pick Feb 24/14. Up 2.9%.) Sept 24, 2020, 7.5%. He still likes this. Did a great job of terming out their debt right before the meltdown.

Joey Mack FIXED INCOME UNKNOWN Yes View
PAST TOP PICK SBUX-Q Starbucks Market Call Tonight (BNN TV) 2015-01-27 $88.340

(A Top Pick Feb 6/14. Up 23.46%.) When he chose this, it had seemed like it had been unloved for a little while and had moved sideways. They continue to do a fantastic job and they are seeing a seismic shift in their business to mobile and 7 million new loyalty cardholders that they can convert and monetize and work closely with. Global expansion is huge. Recent earnings that came out were phenomenal.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
DON'T BUY TA-T Transalta Corp Market Call (BNN TV) 2015-01-27 $11.090

2030 strip bond at 6.2%? With this, you have the coupon payments and you have the bond. Transalta is BB rated and could easily get downgraded to junk in the next couple of years. A junk company could potentially default, and if they do, those interest payments disappear. He would not recommend this company.

Joey Mack FIXED INCOME UNKNOWN Unknown View
HOLD VZ-N Verizon Communications Market Call Tonight (BNN TV) 2015-01-27 $46.350

This whole space is a hyper competitive scenario. The whole idea of the post-paid, prepaid, contracts, subsidizing the Apple phones is a very intense of business. Cash flow on the top line is phenomenal. Looks pretty cheap versus their competition.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
TOP PICK WJA-T Westjet Airlines Market Call (BNN TV) 2015-01-27 $30.830

3.287 % bond maturing July 23/19. (He is biased towards the short term because the market still feels fairly expensive. Corporate credit still offers pretty good value.) This is basically a four-year piece of paper yielding 2.5%, but this is an investment great company. Airlines benefit from lower oil prices, which is another reason he likes this one.

Joey Mack FIXED INCOME UNKNOWN Yes View
TOP PICK WYNN-Q Wynne Resorts Ltd. Market Call Tonight (BNN TV) 2015-01-27 $155.040

70% of their revenue is from Macau. Macau, for the 1st time, saw a pretty dramatic drop in its gaming metrics, and the shares took a hit. Macau does about $44 billion in revenue. It is a 5 hour flight away from 2 billion people. There is a lot of regulatory scrutiny around the name. Gaming revenues started turning round in the 2nd half and he decided to start accumulating this because of valuation and a 4.5% yield. They have a history of doling out special dividends. Dividend of 3.87%.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
HOLD XOM-N Exxon Mobil Market Call Tonight (BNN TV) 2015-01-27 $90.950

The only oil name that he is ever owned. With all the carnage out there, this name has never breached any kind of Stop. The move down below $50 in oil is very destructive for a lot of different companies. There will be companies that go bankrupt and that get shut in. You end up with the survival of the fittest at the end, and this one will be one of the survivors. This all leads to higher oil prices in the future. It is going to take a while and you are going to have to be very patient.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs CAUTIOUS Yes View
COMMENT ZHY-T BMO HighYield Corp Bond US Hedge to CAD ETF Market Call (BNN TV) 2015-01-27 $15.300

Like all high-yield markets, this is not about price appreciation, which is why this has probably traded sideways. However, while it has been trading sideways, it has been paying you about a 6% yield. This is an income strategy. 6% is a pretty good return compared to what the bond market has done in the last 5 years.

Joey Mack FIXED INCOME UNKNOWN Unknown View
COMMENT ZST-T BMO Ultra Short-Term Bond Market Call (BNN TV) 2015-01-27 $56.020

This has lagged, because basically you are holding T-bills and equal-end type instruments. When you’re starting at 1%, there is not much room for price appreciation. This is more of a cash alternative as opposed to a bond alternative.

Joey Mack FIXED INCOME UNKNOWN Unknown View
N/A A Commentary A Comment -- General Comments From an Expert Berman's Call 2015-01-26 $0.020

Markets.  We are seeing the Euro recovering after today’s Greek announcement.  The market anticipated it.  The focus now is on QE.  Equities in Europe should move higher.  It is the right time to put your money into emerging markets.  They are outperforming.  EFA-N covers the rest of the world other than North America.  The seasonality is from Feb. to May of each year.  This year we are seeing international markets outperform North American markets.  The strong US dollar is causing companies to give negative guidance, but after January things look very good.

Don Vialoux NORTH AMERICAN & ETFs UNKNOWN _N/A View
BUY on WEAKNESS A Commentary A Comment -- General Comments From an Expert Berman's Call 2015-01-26 $0.020

Gold.  Strong from July to October and mid December until the beginning of March.  XGD-T has already had a run as it went into the period of seasonal strength.  It is pulling back now and providing an opportunity to buy on weakness.  HSBC downgraded Canadian gold stocks today so wait until they come down and then buy on weakness.

Don Vialoux NORTH AMERICAN & ETFs UNKNOWN Unknown View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2015-01-26 $0.020

Markets.  Stocks are still the best game in town.  Stocks that are geared to a growing economy are the right place to be.  The safety trade is way overbought.  Telcos, grocery stores, utilities, pipelines have all gotten overbought.  There is a lot of momentum money in these stocks and when they get out they get out indiscriminately.  We have seen a lot of fear based investing.  The next step is when people turn away from high multiples. 

Patrick Horan NORTH AMERICAN BULLISH _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Berman's Call 2015-01-26 $0.020

Educational Segment.  He is at the largest ETF conference in the world.  Every ETF provider in the world is there describing their new products.  Greece is a hot topic.  He showed a chart of 10 year Greek bond yields. Yields have really come down.  The question of Greece leaving the Euro could lead to a rocky road in the markets.  What is happening in Greece is having an impact on your portfolio and you have to know how to handle it.  They are projecting the global ETF market will double to over 5 trillion dollars next year.  If Greece defaults on its debt it will have an effect even on North American markets.

Don Vialoux NORTH AMERICAN & ETFs UNKNOWN _N/A View
WAIT A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2015-01-26 $0.020

Banks.  He is not that positive on the Canadian banks because of oil.  By spring we should know where the price of oil will be.  You want to look at banks in the fall.

Patrick Horan NORTH AMERICAN BULLISH Unknown View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2015-01-26 $0.020

The baby boomers are shifting out of fixed income and into dividend stocks.  They are being forced to.  Some rates in Germany are negative. In Japan it takes 10 years to get a 1% return in fixed income.

Patrick Horan NORTH AMERICAN BULLISH Unknown View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2015-01-26 $0.020

Markets. We are in a market of haves and have-nots. Capital is constantly being reallocated. Canada had a great cycle on the back of China’s growth and emerging markets, between 2000 and 2012. Since 2012, capital is slowly moving away from commodities, away from emerging markets and back towards consumer led developed economies. Canada still has some big pieces that are tied to that other world. We just have the wrong sectors. He has very close to a 0% Canadian bank weighting in his portfolios. In the US, he is more interested in the regional banks. In Canada, 70% of the market is made up of materials, energy and banks. That makes it tough in the Canadian market. Fortunately there are some great opportunities in the US, and there are some sectors that really benefit from what is going on. This is a market where you pick your spots. There are some great opportunities, and there is some stuff you have to avoid.

David Burrows NORTH AMERICAN - LARGE BULLISH on US MARKET _N/A View
WEAK BUY A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2015-01-26 $0.020

Gold. Having been out of gold for about 18 months, he recently started back in with some “very partial” positions in some of the equities. The market has been on more of a defensive footing over the last few weeks. If the gold equities start to outperform the metal, that is something that may point to a little bit more strength coming in the future. He does have some concerns about gold, so he is looking at this as a shorter term trade to begin with. He prefers Franco-Nevada (FNV-T), which is a royalty company. Their price held in much better than the group and they have a very defensible business model. The key risk for gold right now is that it is a defensive play, and things in the US are getting better.

David Burrows NORTH AMERICAN - LARGE BULLISH on US MARKET Yes View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2015-01-26 $0.020

Canadian healthcare? Healthcare has probably been one of his 3 Top Picks for 2 years now. It is the biggest industry in the US and highly domestically focused. This was a sector that has been universally underperformed in portfolios. He would prefer a US name such as Actavis (ACT-N), a pharmaceutical company that has roughly 50% of their revenue coming from generic drugs and 50% from branded drugs. A wonderful management team that has been very efficient at creating value. Recently purchased Allergan (AGN-N), which gives them a great opportunity to integrate that business and to generate profitability. Trades at a valuation similar to a generic company, but does have branded drugs which probably make it a little more valuable.

David Burrows NORTH AMERICAN - LARGE BULLISH on US MARKET _N/A View
DON'T BUY AGF.B-T AGF Management (B) Market Call (BNN TV) 2015-01-26 $7.130

They had a dividend cut.  It is very interesting here.  Down another 75 cents would be worth looking.

Patrick Horan NORTH AMERICAN BULLISH Unknown View
TOP PICK AMT-N American Tower Market Call Tonight (BNN TV) 2015-01-26 $101.760

This is a REIT that owns cell towers. About 65% of their revenue comes from North America, so it is fairly domestically focused, although they do have Latin America, India and Germany. It costs them almost nothing to add new capacity. There is very little in the way of capital investment in this business. You can continue to see very strong dividend growth. Yield of 1.49%.

David Burrows NORTH AMERICAN - LARGE BULLISH on US MARKET Yes View
DON'T BUY AMZN-Q Amazon.com Market Call Tonight (BNN TV) 2015-01-26 $309.660

Consumer discretionary is a great sector. He has 25% of his equity portfolios in consumer related companies.(This is not one of them.) There are questions around this company’s ability to ultimately be profitable. There are concerns that they continue to have investments in things that really don’t generate a positive rate of return.

David Burrows NORTH AMERICAN - LARGE BULLISH on US MARKET No View
HOLD ATD.B-T Alimentation Couche-Tard (B) Market Call (BNN TV) 2015-01-26 $46.950

It is on the expensive side.  They have European exposure, but as oil prices come down, gas prices also go down but typically people have more money to go in the store to buy things which is where their margin is.  This is a pretty good time for these guys.  Expects margins to be maintained.  He would wait for 10% more and then exit.  The multiples are pretty high.

Patrick Horan NORTH AMERICAN BULLISH Yes View
SELL AXP-N American Express Market Call (BNN TV) 2015-01-26 $83.300

There is multiple compression coming into their space.  No one knows how this shakes out.  Step aside and wait for the dust to settle.  The other two are fine to invest in.

Patrick Horan NORTH AMERICAN BULLISH Unknown View
BUY BABA-N Alibaba Group Holding Market Call (BNN TV) 2015-01-26 $103.990

It is on the expensive side, although it has a lot of growth to it and it would be the reasonable one of the group.  He is bullish on technology and thinks this one will work out just fine.  It just wouldn’t be his favourite stock.  China’s economy would be good for it because they are moving toward a consumer economy.  He thinks you will do fine in it.

Patrick Horan NORTH AMERICAN BULLISH No View
COMMENT BAC-N Bank of America Market Call Tonight (BNN TV) 2015-01-26 $15.850

There were a lot of people that had a view that interest rates would start to work their way higher. With what is going on in Europe and Japan, there are $7 trillion of fixed income assets globally yielding a negative return. There is tremendous pressure on long-term interest rates, which in general is not good for big money centred banks. Because of this, this one and other similar ones have been under pressure. If you believe that rates may stay lower longer, you would be better off focusing on a regional bank that is less dependent on long-term interest rates. He sold his holdings in this bank. In the financials, he prefers REITs and asset managers that will probably benefit from asset growth in a stronger equity market. Wells Fargo (WFC-N) is attractive and is a direct play on US housing.

David Burrows NORTH AMERICAN - LARGE BULLISH on US MARKET No View
BUY BAM.A-T Brookfield Asset Management (A) Market Call Tonight (BNN TV) 2015-01-26 $64.910

This is the largest position in his portfolios. A collection of very strong cash flow generating assets. We are in a world where return is hard to come by. They are getting great returns in their underlying units, and there is great demand for distribution paying entities. There is a very strong demand for management with hard assets. This is a great, long term hold.

David Burrows NORTH AMERICAN - LARGE BULLISH on US MARKET Yes View
DON'T BUY BCE-T BCE Inc. Market Call (BNN TV) 2015-01-26 $57.870

Management has executed phenomenally here.  Their valuation is not as outrageous as some other areas like utilities and pipes.  He does not see a lot of return left in it.  You are better off with his Top Picks.

Patrick Horan NORTH AMERICAN BULLISH Unknown View
DON'T BUY C-N CitiGroup Market Call (BNN TV) 2015-01-26 $48.890

This Is his least favourite of the US banks.  They really didn’t do the reform coming out of 2008.  They were slow to do it.  They hung onto legacy businesses.  They have a lot of international exposure and this is the thing that he is cautious on.  He likes American banks in general.

Patrick Horan NORTH AMERICAN BULLISH Unknown View
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