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
2017-08-14 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  We are seeing an equity rebound as we saw nothing over the weekend.  Nobody knows what the odds are of a much larger correction.  If you look at the Cuban Missile Crisis, the market was down over 20%.  This is the best example that is similar to the North Korean Issue.  In all likelihood we are not going to get to the crisis, but the markets may react.  Europe has started to underperform because of the strength of the Euro.  Their index hit a key technical level last week.  (See UUP-N).  In all likelihood the US$ gets a technical bounce.  He thinks we will settle into a new trading range.  The Canadian dollar will probably not get too much stronger than it is now.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-08-14 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Education Segment.  Market Sell-Offs.  Every time we get a pullback we make a higher low followed by a higher high in the S&P.  The Russell 2000 has been testing support.  Until it breaks $133 we won’t have a technical breakdown.  The average stock is weakening, but it is not until the market breaks support that we will have a problem.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-08-14 COMMENT Must be logged in to use chart ALA-T Altagas Ltd

There is some regulatory uncertainty as to whether their acquisition in the US will go through.  The drop in stock price has boosted the yield.  He thinks you are pretty close to the bottom so there is a value element to it.


Price:
$27.980
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-08-14 COMMENT Must be logged in to use chart DFN-T Dividend 15 Split Corp.

Banks, insurance companies, pipelines – all the big dividend payers.  He does not mind owning any of these things.  It is diversified among a couple of sectors.  He has no strong opinion either way.  Not a bad buy below $11.


Price:
$10.740
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-08-14 DON'T BUY Must be logged in to use chart GE-N General Electric

It is down this year where as the DOW is up, so there is something wrong with it.  Generally they track closely, but now they have diverged massively.  Sometimes GE-N leads the DOW so could be indicating a general market correction.  ZIN-T is an equal weight industrials in Canada and would be an alternative.  It’s rather like a GE-N.


Price:
$25.360
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-08-14 DON'T BUY Must be logged in to use chart XCV-T iShares DJ Canadian Value ETF

XCV-T vs. XEI-T.  XEI-T is a high dividend strategy.  XCV-T is a value approach.  XEI-T has 24% exposures to each of pipelines and banks.  XCV-T has 31% in banks and oil/gas at 16% and these are the major differences.  Neither one is particularly good value, but he would go for XEI-T at the moment.


Price:
$24.970
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-08-14 DON'T BUY Must be logged in to use chart XEI-T iShares S&P/TSX Equity Income

XCV-T vs. XEI-T.  XEI-T is a high dividend strategy.  XCV-T is a value approach.  XEI-T has 24% exposures to each of pipelines and banks.  XCV-T has 31% in banks and oil/gas at 16% and these are the major differences.  Neither one is particularly good value, but he would go for XEI-T at the moment.


Price:
$21.050
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-08-14 COMMENT Must be logged in to use chart XTR-T iShares Diversified Monthly IF ETF

He loves the ETF because it gives you a balanced fund, is diversified, and has 20% US exposure in the high yield market.  It yields about 5.5% to 6% so you are getting a payout of capital.  You have to think about bond yields and credit risk and how they might increase.  Think of it as a Canadian balanced fund.  He prefers ZWC-T because it is covered call premium and not payout of capital that gets the yield up to where it is.


Price:
$11.270
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-08-14 COMMENT Must be logged in to use chart ZWH-T BMO US High Dividend Covered Call ETF

There is a US version that trades in US currency, but he does not believe there is any difference in the tax treatment of them. 


Price:
$19.700
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-07-31 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  The earnings season has been pretty impressive so far.  To the degree there is financial engineering and the pricing off of proforma earnings, he is concerned.  The true value investors do not see a lot of value here.  This is a momentum and growth market.  He thinks valuations are high and we are at a risk of correction, as he has been saying for half a year now.  He is impressed with what corporations are doing here, however.  We saw the Fed talk about unwinding QE.  The bank of Japan is talking about not being as simulative and well as the bank of England.  We have seen a dramatic 10% move in the Canadian dollar.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-07-31 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Inverse Market ETFs.  It depends on your overall portfolio and risk tolerance.  Since November the markets have gone straight up.  HIU-T is an example.  He is still net short the US market, but it is hard to make money.  You can make money hedging the currency, however.  It is always important to diversify even if that one thing is not working today.  At some point we will get a little bit of a dip.  Seasonality-wise this is not the time to cover shorts.  It will happen sometime through October.  You might write a call on top of the ETF to enhance returns over time.  He has no fundamental objection to single inverse ETFs, but he does to the leveraged ones.  The singles do not eat way into the NAV.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-07-31 BUY Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Gold should always be a part of everyone’s portfolios.  It does not produce any income, but some ETFs give you some income.  At this level he likes gold, but does not love it.  The high might be $1350 in 6 months.  5% is a good holding right now in your portfolio.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-07-31 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Educational Segment.  How to Play the Canadian Dollar in Coming Months.  People are paying more and more attention to currencies.  In early 2015 Canada surprised us by lowering interest rates.  Now they have raised them.  It has had a meaningful impact on the Canadian dollar.  There are three factors for currency decisions:  (a) Oil prices (inverse); (b) Interest rate differential between CAD and US 2 year rate; (c) Net speculative positions in the Canadian dollar.  Oil could potentially move us up if it went up, but there are only a couple of months of potential increases left in this year.  We have probably seen the high end of the Canadian dollar last week.  It should settle into $.77.  He is playing it as a being in a new trading range.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-07-31 COMMENT Must be logged in to use chart HBF-T Brand Leaders Plus Income

It is a brand leader.  It looks a lot like the DOW and is quite correlated to it.  It is more of an equally weighted way to play it and there are some option strategies within it.


Price:
$8.860
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-07-31 BUY Must be logged in to use chart ZPW-T BMO US Put Write ETF.

He talked about swapping out ZPW-T a while back, but now he likes it with the stronger CAD $.  ZPH-T gives you hedging and you would eventually swap back into it.


Price:
$17.830
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
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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