Viewing Expert Larry Berman CFA, CMT, CTA | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

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

ETF Capital Management Inc.

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

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


Date Signal Chart Symbol Company Opinion Price
2017-05-29 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  It bothers him that Trudeau has no plan in place to balance the budget.  He is concerned about the debt in the world.  It is unsustainable.  Balancing the budget is important to the conservatives.  Trump has been wavering on some of his promises.  He said he does not like German trade.  It is built on export and it does not matter if Trump does not like it.  Markets don’t seem to care what he does now.  Europe is not fixed because France did not elect an anti-EU leader.  Italy has been underperforming the world for decades.  This is a problem.  Their banks should be a leading indicator as we approach the Italian elections.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-05-29 COMMENT Must be logged in to use chart CGL-T iShares Gold Bullion ETF

A hedged way to play the gold market.  He has about a third of a position.  Gold equity holdings are much more volatile than gold itself.  If you believe gold is going up then you make more money on the equity side.  We are in the mid-to-upper end of the range of the trading of this ETF.  This is a no growth story.


Price:
$11.090
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2017-05-29 COMMENT Must be logged in to use chart CWB-T Canadian Western Bank

Compared to Oil prices over the last 5 years, you can see it is a big proxy.  It is not a perfect correlation, but oil is a huge influence.  CWB-T will be a range trader for the next 5 years.


Price:
$24.560
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-05-29 COMMENT Must be logged in to use chart ZLB-T BMO Low Volatility Cdn Eqty ETF

Low volatility, low beta holding of equities.  It is not fixed income.  They are not risk free and should not replace fixed income in your portfolio.


Price:
$29.960
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-05-29 COMMENT Must be logged in to use chart ZWE-T BMO Europe High Dividend Covered Call Hedged to CAD ET

[In a non-registered account]  The dividend stream coming off a foreign stream is fully taxed.  In registered accounts you can hold foreign holdings that would otherwise be fully taxed. 


Price:
$22.560
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-05-15 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Oil. There has been a big run up in oil because of the agreement between Russia and OPEC, to prolong a series of oil production cuts. The question always is, can they do it and what do the non-OPEC people do. Libya and Nigeria are exempt from caps and have been pumping like mad. The US has been pumping like crazy, and the higher the prices go, the more they are going to continue to pump. He’s not sure there will be the long-term resolution that they would like to see. $50, plus or minus $10 is likely our trading range for the next few years. A few weeks ago, when oil was summing off, that is when he was buying because the prices were a lot cheaper. If we go 4%-5% higher, he will be selling the oil stocks again. Range trading is what he thinks is going to happen.


Price:
$0.020
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
_N/A
2017-05-15 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. Now that earning season is now over, we go back to global macro again. Oil prices are coming back, which is good for the market, so it should go higher off and on over the next 6 weeks, until we get to the next earnings period. Right now, he thinks the OPEC meeting is going to pull the market into focus. As we get into June, what is the Fed going to do with interest rates. If markets are stable, we are going to see another rate hike.


Price:
$0.020
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
_N/A
2017-05-15 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Educational Segment. He gets a lot of questions on hedging, and this is to show you his favourite indicators, and what are quite popular on the street for figuring out where the Cdn$ might go. A upper part of the chart showed the traded value of the Cdn$ over a two-year span. When it was going up, it indicated the dollar was weakening. The bottom part showed the interest rate differential 2-year US and 2-year Canada. As the differential was rising, the spread to US interest rates, the US yields more than Canada. Money tends to flow towards the higher yielding currency on average. With that in mind, the Fed is likely going to keep raising rates, which is a bit of a negative. However, compared to where the spread was when we were back at the extremes, we are now at the same level spread wise. The chart also showed the correlation of oil to the Cdn$, which pretty much followed. The chart also showed the speculative position in the futures market. Currently, we are at the highest level in terms of net speculative Shorts in the last couple of weeks. That tells him that there is an imbalance in the market. The loonie might be close to a bottom for at least the next 6-12 months. Going out to the end of 2020 on the futures curve on a crude oil chart, we are looking at pretty stable oil prices in and around $50 looking out 4 years.


Price:
$0.020
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
_N/A
2017-05-15 COMMENT Must be logged in to use chart BAC-N Bank of America

Liquidate? He never recommends liquidating. He likes to scale. If you’ve had a good run and there are good profits, and some potential risks to the downside, then you cut a 3rd. If it keeps going up, then you are still playing, and then you cut another 3rd. he doesn’t think we are going to get back to the levels that were there prior to 2008. Doesn’t see rates going up materially, from this point on. He would be inclined to scale out of bank names.


Price:
$24.060
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
Unknown
2017-05-15 COMMENT Must be logged in to use chart HCG-T Home Capital Group

Alan Greenspan, Ben Bernarchi, Janet Yellin have all said things are contained, and housing isn’t an issue. They all say this, because they have to say that. The difference between Canada and the US’s housing bubble years ago, was the tie-in of massive amounts of derivatives to the broad housing sector. Canada doesn’t have that degree of systemic risk, by a long shot. However, if this goes under, it could have ripple effects. There are issues here, and it is probably not over yet. It is a funding story, not a mortgage default story.


Price:
$9.170
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
Unknown
2017-05-15 COMMENT Must be logged in to use chart ONXS-Q Onyx

Liquidate? He never recommends liquidating. He likes to scale. If you’ve had a good run and there are good profits, and some potential risks to the downside, then you cut a 3rd. If it keeps going up, then you are still playing, and then you cut another 3rd.


Price:
$4.790
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
Unknown
2017-05-15 COMMENT Must be logged in to use chart TDIV-Q NASDAQ Technology Dividend ETF

To him, the sector overall is expensive. In 2008-2009 when the markets corrected, technology in the longest, and NASDAQ was the last to correct in a big way. It is probably going to be the same this time. Money will flow to what is still working late in the cycle. He is very, very nervous on the markets, and is not sure he would want to put in a whole lot at this point to technology.


Price:
$32.080
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
Unknown
2017-05-15 COMMENT Must be logged in to use chart VZ-N Verizon Communications

Why are industries like this going down? No one really knows. He has been using an ETF IYZ-, which is a more comprehensive, broad-based exposure to telecom in the US. It is cheap relative to the markets over the last year or two. This stock has been a perennial under performer.


Price:
$45.380
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
Unknown
2017-05-15 COMMENT Must be logged in to use chart ZID-T BMO India Equity Hedged to CAD ETF

An ETF on Indian equities, hopefully with a better yield? There is the ZID. There are versions in the US you can buy, but this one is in Cdn$. He loves India long-term. You are not hedged to the currency on this. You are exposed to the fluctuations of the Indian rupee and US$, because there is some US$ imbedded exposure in that.


Price:
$22.830
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
Unknown
2017-05-15 COMMENT Must be logged in to use chart ZPW-T BMO US Put Write ETF.

For a cash account, is a better to have this, or ZPW.U, the US version? Depending on what you want that currency exposure to be, you might want to consider ZPH-T which is a hedged version. Either one of them is fine to hold. If there is a sharp, sharp correction over weeks, these are still going to protect you on the downside, but are still going to have a bigger shock to the downside. These are equity exposures and are not fixed income replacements.


Price:
$19.620
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
Unknown
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1 Comment

raziel

April 3rd 2015 at 8:48am

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


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