Viewing Expert Larry Berman CFA, CMT, CTA | StockChase
stockchase picture

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
2017-10-16 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market.  US earnings are starting on a so-so footing.  The banks started off and given the low volatility of the market, trading volumes were lower than expected.  Revenue growth year over year was not as great as expected so markets were soft.  Banks’ profitability is based on the yield curve and so he does not get excited about the rising interest rate environment because the yield curve is getting flattened.  If you add three more rate hikes, by Q3, we get an inverted yield curve and that predicts recession in 2019.  He does not want to chase markets higher.  Defense is called for.  We are in the worse seasonal period of the year and yet markets have gone higher.  Mid to end of October is historically the worst part of this.  He is waiting for today’s unveiling of the new income tax changes in Canada.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-10-16 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Currency.  If people sell the dollar, where is the other side of that trade?  The Canadian dollar is not big enough for the sale of US dollars.  The Euro can’t be because the Euro will break up soon.  The Japanese Yen is a possibility and he does not think we will see a flight to Chinese Yuan.  Don’t worry about the dollar.  It is not going anywhere any time soon.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-10-16 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Educational Segment.  Richard Thaler won a Nobel price.  He is the best behavioral economist.  He spends a lot of time trying to get through to viewers and teach them how to make a better investment decision.  Richard is best known for the endowment effect where you value something overly when you already own.  You are reluctant to sell it below what you bought it at.  Even utility bills are giving you little nudges to help you make better decisions in the use of your energy. 


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-10-16 BUY Must be logged in to use chart HXDM-T Horizons Intl Developed Markets Equity Index ETF.

It is a very good strategy.  They don’t own the stocks but buy a derivate (futures based swap contract) so you don’t get a tax withholding.  This is an advantage in taxable accounts.  It’s only been out a short while.  It is a very good product for people focusing on tax efficiency.


Price:
$32.100
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-10-16 WEAK BUY Must be logged in to use chart MA-N Mastercard Inc.

When the consumer is at risk, such as in an economic slowdown, it is this one that underperforms.  When the economy performs well and credit is building it does well.  He is cautious right now.  He thinks it is extended and is late cycle.  This is a payment processor and not a lender.  Non-payment risk goes to the underlying financial institutions.


Price:
$146.220
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-10-16 HOLD Must be logged in to use chart MFI-T Maple Leaf Foods

There is some short term resistance.  There is nothing wrong technically.  He would be concerned if we took out the lows from the last couple of months.  The long term trend line looks good.  He is not concerned right now.


Price:
$33.290
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-10-16 DON'T BUY Must be logged in to use chart PD-T Precision Drilling

The energy sector is challenged.  He has owned this one on and off over the years.  When there is potential growth in drilling this is a go to stock.  It seems the lack of pipelines out of Canada will be a problem.  This stock will probably not have a material rally.  If we have a regime change in 2019 and there is more openness to pipelines we get a change.


Price:
$3.270
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-10-16 WATCH Must be logged in to use chart XBB-T iShares DEX Universe Bond ETF

The broad Canadian bond market.  The interest rate risk on the broader market is at 7 which mean if we see a 100 basis point increase in interest rates, you will lose about 7% in terms of capital.  It is not time to step in yet.  If interest rates went up 25 basis points then it would be time to move in.  Don’t extend duration until interest rates go up a little but.


Price:
$30.780
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-10-16 BUY on WEAKNESS Must be logged in to use chart ZPR-T BMO S&P/TSX Laddered Preferred

Laddered preferreds.  They do well in rising interest rate environments.  Fundamentally it is not cheap here.  He got a lot a year ago.  He does not like the relative value here.  He would buy into weakness on a pull pack.  That could happen in December.


Price:
$11.790
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
No
2017-10-02 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market.  Market expectations on tax reform were for nothing getting done.  Now it looks like they will put all their weight in getting a tax package done.  Whatever they get done should be disappointing and we should get a sell-the-news reaction.  Over the last three months earnings revisions have gone down on the S&P.  Canadian tax changes will mean nothing to markets initially but over the long term it may discourage the Canadian entrepreneur.  The government of Spain may fall as a region tries to separate but markets are not reacting.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-10-02 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

CAD$.  On the rate hike front, the BOC is more likely to match the US Fed.  He would not look for an October move -- December maybe.  In the next 6 months the CAD$ will go from 79 to 83 cents.  Below 80 cents he wants to be hedged.  He is fully hedged today.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-10-02 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Bitcoin.  Governments don’t control it.  He believes we are moving to electronic-only currencies globally.  He does not think governments will allow alternative currencies with unlimited amounts in circulation.  Electronic currency gets rid of the gray economy.  GBTC-N is a speculative instrument. 


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-10-02 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

He has been cautious for a year and a half.  There are defensive things you can do.  He runs portfolios with half the risk of the general market using covered call strategies, for example.  Make sure you are globally diversified.  Don’t sit in cash and wait for a pullback.  It may be 2019 before we get a pullback. 


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-10-02 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Educational Segment.  (weekly series) What Investor Personality Are You?:  4. The Independent.  A lot of behavioral learning has been incorporated into the body of knowledge.  The independent is a BNN watcher, reads the paper and is interested in being involved in the investing.  These investors are susceptible to a self attribution bias – they take credit if it works and blame the other guy if it doesn’t.  It causes portfolios to be concentrated.  They should focus on diversification. 


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-10-02 BUY on WEAKNESS Must be logged in to use chart ATD.B-T Alimentation Couche-Tard (B)

MRU-T will sell some of their 10% holding in ATD.B-T in an orderly way.  The stock price leveled out over the last couple of years.  He would like it if it pulled back a little.  The forward looking PE is 17, a little high.  He would not buy it today while this M&A is going on.


Price:
$57.830
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
Showing 1 to 15 of 2,398 entries
<< < 1 2 3 4 5 > >>

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?


You must be logged in to comment.