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
2017-08-21 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. We are not expecting to get a statement on central banks unwinding quantitative easing, but rather tightening. We are expecting to hear, however, how they are planning to unwind their balance sheets in the future. The markets are starting to respond to some of these negatives. Japan has a deeply struggling economy. They are buying equities and bonds.  He thinks we are heading down the path of what Japan has had to do.  This is playing out over decades. It has to do with the aging demographic.  Bannon out of the Whitehouse: he was the worst part of the election process.  It bought all the worst to the surface including hate.  He is not sure it will fix anything, but it is a step in the right direction.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-08-21 BUY Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Smart ETFs.  In the BMO world they have two niche areas.  (1) Low volatility, low beta.  (2) A couple of years they got into the quality factor space.  When you pay a fee you expect them to pick the best quality companies.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2017-08-21 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

A Correction. Volatility is at an all time high in the US.  We get corrections all the time.  He has never said we are going to have a 30-40% bear market, however last year from 2015 highs to lows in 2016, small caps were down 20% in the US so that is a pretty material correction.  We have not had a broad correction in a long time.  Calling a top is hard and he never does that.  He says he is concerned and it is time to shift the portfolio to more defensive stocks, and ETFs that use covered call strategies.  It is about asset allocation and sector diversification.  Nobody knows when the top is in.  He does not like what he sees over the next couple of years and so is defensive in the way he runs his portfolios.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-08-21 BUY Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Pipeline ETFs.  His favourite way to play utilities is ZWU-T, 80% Canada and 20% US.  It has generators, telecoms and pipelines. It has a covered call overlay, enhancing the yield. It is very diversified over the couple of sectors.  He prefers this to picking individual pipelines.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2017-08-21 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Educational Segment.  Financial Astrology.  A study that went back to look for correlation between solar eclipses and stock market performance said that there is none.  There are all kinds of financial astrologers.  One newsletter makes market calls off astrology and he does not give it weight.  There are all kinds of academic studies. The more sun there is the better markets do. There is correlation, but not causation.  That is the ultimate question. There is a guy who correlates full moons to markets with the idea of disproving any and correlation he could not disprove it. Gold tends to either change or accelerate in a full moon.  He recommends you don’t pay attention to it. Markets like wheat and corn are influenced by weather which is influenced by tides and those by the moon, so you have to be careful of that.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-08-21 BUY on WEAKNESS Must be logged in to use chart GILD-Q Gilead Sciences Inc.

It has broken out of the 200 day moving average recently.  As long as during any pull back that it holds the 200 and 70 day moving averages, we could expect to see some improvement.  We could bounce up to about $80 before we struggle again.  If it does not hold the $70 then get out.


Price:
$72.600
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-08-21 BUY on WEAKNESS Must be logged in to use chart IPL-T Inter Pipeline

You have to go back a couple of years to look for support.  The lows in the low $20s should be good long term support.  We could get down there.  Don’t buy a stock just for the yield.  There are risks like the IPL-T spill that come along.  He would add to it here.  Resistance would be about $30.


Price:
$22.350
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-08-21 BUY on WEAKNESS Must be logged in to use chart SHOP-T Shopify Inc.

It is tremendously volatile.  We had a pop a number of months ago.  He suggested at the time that you start playing with options.  This might be just a consolidation.  He is cautious on this one.  Buy into weakness, but don’t chase breakouts, although that is just part of his style of investing.  If it breaks support you have to think it is heading into a lower area.


Price:
$121.150
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
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
2017-07-31 BUY Must be logged in to use chart ZWE-T BMO Europe High Dividend Covered Call Hedged to CAD ET

European ETF.  The yield is down because the covered call premiums are low right now due to low volatility.  EUR-T is an alternative.  PRD and RPDH are alternatives also.  Europe is underperforming a little bit because the Euro is getting strong and they are exporting a lot.


Price:
$21.550
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-07-31 HOLD Must be logged in to use chart ZWH-T BMO US High Dividend Covered Call ETF

It is like ZWE-T.  It finds the best quality or dividend payers.  We have seen a dramatic decline recently because of the Canadian dollar.  He likes the US exposure.  Don’t get out of it.


Price:
$19.380
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-07-10 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. The expectation is for less than double digit earnings in the quarter, He is going to be looking for whether they will be making the year or not.  The markets are very much about rotation and they are stable as a whole.  He is a bit nervous, but things seem to be holding in.  Everywhere except Japan wants to ease on stimulus.  He is expecting economic growth to slow and interest rates to rise slightly.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-07-10 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Education segment.  The Role of Gold in your Portfolio.  Gold has been selling off quite a bit.  The best opportunities are when gold is going down.  It is a great diversifier, but it yields nothing so it is hard to hold it in your portfolio.  If you look at the correlation between gold and other asset classes, some have no relation and some are very correlated.  Gold has high correlation with currencies.  The total world index has very low correlation to gold.  VT-N compared to GLD-N have various correlations through time.  TLT-N is more correlated to GLD-N so it represents less diversification.  He is looking at buying gold here.  If gold breaks below $1200 we will see some panic selling and that is the time to look at accumulating.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
No
2017-07-10 SELL ON STRENGTH Must be logged in to use chart CPD-T iShares S&P/TSX Preferred ETF

A basket of preferred stocks, a lot of them being resets.  He has been a net seller of the BMO version late last week.  He would continue to be a seller into strength.  You could buy into pullbacks.  It is unlikely we will break out of the range.


Price:
$14.110
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2017-07-10 COMMENT Must be logged in to use chart HMMJ-T Horizon's Medical Marijuana

You get diversification.  Who knows which stocks are going to be the .coms of the weed industry?  There is still some downside to come in this industry. 


Price:
$8.390
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-07-10 HOLD Must be logged in to use chart SHOP-T Shopify Inc.

There is a sort of a head and shoulders pattern and now we have made a lower high and a lower low, so the trend is breaking.  At $110 there is big support.  If we break that then we should come back to the next area of big support at $60.  Just sit back and watch it.


Price:
$117.460
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
Showing 1 to 30 of 2,341 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.