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
2017-06-26 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  An Italian bank is purchasing for one Euro two Italian regional lenders that were being bailed out, and are now being wound up.  This is the continuation of ‘too big to fail’.  The government is not doing a good enough job of regulating the banks there.  This is going to be troubling for decades to come.  If interest rates go up marginally, you see purchasing coming down.  At the end of the day, fixed income is a safe place to put your money.  There are doubts that Trump can ever cut corporate tax rates all the way to 15%.  This will affect small cap US stocks, which would have benefited tremendously from a big tax cut.  That makes the Russell 2000 index the most expensive in the world, so he is short that index. 


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-26 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Educational Segment.  Robots.  A lot of boring jobs were replaced by computers and so a lot of jobs have gone away.  Amazon is breaking every space.  They could have cost a million jobs by now.  They are only going to get bigger and bigger in this space.  He feels there will be social problems coming.  From the mid-70s to today, the bottom 50% of people have seen no real growth in their incomes.  The next 40% have seen only a marginal growth.  The top 10% are all doing well.  BOTZ-Q and ROBO-Q are ETFs for robots and they have outperformed the world.  He will love them once we get a market correction.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-26 DON'T BUY Must be logged in to use chart CBL-T Callidus Capital Corp

It is specialty financing so they get caught up in the whole HCG-T space.  CBL-T is in a corporate mess.  You have to wait for the dust to settle.  When there is something this acute, the chart and technical analysis are not useful.


Price:
$14.970
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-26 BUY on WEAKNESS Must be logged in to use chart CNQ-T Canadian Natural Rsrcs

Energy is his biggest weight in his portfolios and has been for a couple of weeks.  We are at the lower end of the oil price range.  CNQ-T has held up well over the last 5 years.  He does not see the tail risk currently.  You want to buy a quarter or a third into a position and do so on weakness.


Price:
$37.530
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-26 HOLD Must be logged in to use chart PDC-T PowerShares Canadian Dividend Index ETF

Canadian dividend index.  You have big exposure to banks and insurance.  It is a fine, diversified mix, and fine as long as we don’t get a pull back in any of the names.  He would have preferred a covered call overlay (e.g. ZWC-T).


Price:
$27.600
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-26 WAIT Must be logged in to use chart TD-T Toronto Dominion

The Canadian market has come off about 5% from the highs.  This is why the banks are off from earlier in the year.  There is definitely risk around real estate and the Canadian economy.  Banks are much more attractive at the level they were at about the time of the Trump election and there is a risk they will go there again.


Price:
$65.210
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-26 SELL ON STRENGTH Must be logged in to use chart TECK.B-T Teck Resources Ltd. (B)

Steel stocks have been beaten up and he plays it through an ETF.  You have Met. coal in TECK.B-T and so he thinks there is downside potential.  He would sell into rallies.


Price:
$21.900
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-26 DON'T BUY Must be logged in to use chart ZEF-T BMO Emerging Mkts Bond Hedged CAD

ZEF-T vs. ZHY-T.  The question is credit risk.  You have emerging market risk with ZEF-T and so you get extra yield.  When you do the correlation of the higher yield, they trade more like an equity than a bond.  ZEF-T is an equity type risk, where as ZHY-T is more like fixed income.  He does not think it is the time to step into either of these.


Price:
$17.080
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-26 DON'T BUY Must be logged in to use chart ZHY-T BMO HighYield Corp Bond US Hedge to CAD ETF

ZEF-T vs. ZHY-T.  The question is credit risk.  You have emerging market risk with ZEF-T and so you get extra yield.  When you do the correlation of the higher yield, they trade more like an equity than a bond.  ZEF-T is an equity type risk, where as ZHY-T is more like fixed income.  He does not think it is the time to step into either of these.


Price:
$14.660
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-26 WATCH Must be logged in to use chart ZWU-T BMO Covered Call Utilities ETF

80% Canada / 20% US.  It is not a fixed income replacement.  He is not adding to his holding right now.  He loves it as a yield play and would add more if we sold off more aggressively.  He has half a position.


Price:
$14.150
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2017-06-19 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  They de-stressed the stress test for the banks by taking the qualitative aspects out of it.  This week the stress tests will not have much impact.  He thinks we will see negative interest rates in the future.  He does not think the Fed will be able to unwind the balance sheet of the US much.  The equity markets are breaking out to new highs today.  There is a recession sometime in the future that will be hard on the markets.  He is nibbling away at energy producers, mainly through ETFs such as XEG-T, XLE-N, OIH-N.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-19 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

ETF similar to ROBO but in Canada.  There aren’t any.  You will have foreign currency risk with all of these.  But even if there was a Canadian one it would have to hold international equities.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-19 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Canadian vs. US $ ETF.  He believes the US stock markets have never been more expensive.  A high quality ETF could fall 25% or more in a bear market.  You would still get a yield throughout, however.  BMO is the best at covered call strategies so you might go that way.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-19 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Buy US$ now?  He likes to scale into a position.  If you have years to wait, then the CAD$ might get higher.  For the foreseeable future you are looking at $0.78 as the maximum, if that.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-19 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Guest: Danielle DiMartino Booth, author of Fed Up.  She is very critical of the Fed.  Credit markets were frozen solid and liquidity was the issue, not interest rates.  9 years later we are not at normalized interest rates.  She thinks eventually we will have social unrest.  Dividend paying stocks are among the most over valued stocks in the index.  Auto and Energy are the two biggest drivers of growth.  Auto sales volumes have rolled over.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-19 BUY on WEAKNESS Must be logged in to use chart ALA-T Altagas Ltd

He hates saying you get paid to wait.  He likes ETFs so you are diversified.  It looks like ALA-T is in a trading range.  You could nibble away at it if you like the dividend, however.  Sell at $35.


Price:
$30.590
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-19 DON'T BUY Must be logged in to use chart HOU-T HBP NYMEX Oil Bull+ ETF

Double bull oil ETF.  It seems you are at the bottom end of the range in oil prices.  This ETF has the usual problem with leveraged ETFs if you hold them a long time.  HOU-T may not go up if oil is too volatile.


Price:
$5.090
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-12 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  The reversal in tech shares is quite meaningful. It stands out as what was leading the markets over the last 6 to 12 months. Look at IYW-N, the tech only ETF that is up 40% year over year, vs. the S&P being up 20%.  If you are a short term trader, you could buy on pull backs, but if you are long term, wait.  Buy when it tests the Trump election night levels, then it is time to step in.  Looking at the UK markets, they don’t like uncertainty.  BREXIT is the first part of the EU coming apart, but 5 years from now the EU won’t exist in its current form.  Italy stands out as the next one to move out.  The soft economic numbers are getting a bit better in Europe, but it is not free and clear.  The US markets are concerned with how the Fed is going to unwind or start to unwind the balance sheet.  It will pull back the liquidity of the markets just a little.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-12 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

If we are in a secular bull market, breaking out from $15 and change in the S&P, if we get back to those levels we would be testing the breakout of the market. And he thinks that is highly likely in the next recession.  We don’t know when the next recession will hit.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-12 BUY Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Caller looking for an ETF that covers retirement homes.  He has not seen one.  There is definitely a growth story there.  The government is considering a lot more in-home care.  Something investing in that would be a terrific growth story for the next 15 years.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-12 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Educational Segment.  The US Yield Curve.  There have been three rate hikes: Dec/15, Dec/16 and then Mar/17.  The yield curve is the difference between the two year rate and the 10 year rate in the US.  We have seen a flattening of the curve following each rate hike.  Short term rates are rising while long term rates are falling somewhat.  This historically means that the market is anticipating a slowdown in the economy.  He would be shocked if we did not get a rate hike this week, but that should be it for this year.  Longer term rates will continue to fall.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-12 BUY on WEAKNESS Must be logged in to use chart AMD-Q Advanced Micro Devices

He would want to buy pullbacks to the $10 area.  We made a good test in May.  A pullback to that level would indicate a buying opportunity. 


Price:
$12.090
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-12 DON'T BUY Must be logged in to use chart MFC-T Manulife Financial

He does like the insurance space.  It is going to be challenged.  Life expectancies are extending and the higher interest rate liabilities are extending.  He thinks rates stay low for the next decade or two.


Price:
$24.110
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-12 SELL ON STRENGTH Must be logged in to use chart XLF-N SPDR Financial E.T.F.

He was looking to buy ZUB-T when it was testing multi-month rallies.  This rally is about expected rate hikes from the Fed and he expects they are over.  He would sell into strength on the banks.


Price:
$24.340
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-12 DON'T BUY Must be logged in to use chart ZEO-T BMO S&P/TSX Oil & Gas ETF

He was buying the energy sector last week.  Now it is his biggest overweight sector.  If you go back 5 years, the lows of 2011/12 were in the $12 range.  Oil was on its way up to $100.  When oil was $100, this ETF was almost $18 at the peak.  The recent peak was $13 as oil was at $55 late last year.  That is not really that sustainable.  Own it between $11 and $12 and buy or sell below or above these limits.  He is not inclined to add to it here.


Price:
$10.850
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-05 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  C-N has an economic surprise index.  The EU is relatively stable over the last 6 months, but the US has really fallen off a cliff over the last 6 months so there have been far more economic reports that are coming out much worse than expected. The markets are making new highs today.  The percentage of stocks that are above their 200 day average is falling, so the breadth of the market is falling.  It does not mean you sell today, but that there is some underlying weakness.  He wants to be cautious this late in the economic cycle.  Credit is driving a lot of potential growth we are having and is masking some of the weaker underlying demographic and other trends that will limit growth for the next couple of decades.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-05 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

S&P 500 – 100 points higher or 100 points lower first?  He was taught never to forecast price and time in the same forecast.  But he would say 100 points lower comes first.  He is conservative for clients and establishing options positions.  He is being more defensive.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-05 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Bitcoins.  Back to about 2010 when it first started trading, it was worth pennies.  We are at 2600 today.  There is a bubble here.  When it breaks you will get a correction like in 2013, at least 50% and then perhaps it is something to own again.  He thinks we will eventually be a paper-currency-less society.  This is not a currency.  Currencies don’t fluctuate like this.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-05 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

How to play defensively. Write put options about 10% below market and take a yield of 4%.  You have to want to buy the market 10% lower.  Energy may not come down that much if markets come down because energy is already down.  It is already at a 50 week low.  He has been nibbling at the energy sector.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-05 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

CAD$ vs. Euro.  The Euro has been strengthening.  With an election in Italy we will likely see anti EU parties.  He does not see the CAD$ rallying much and the Euro will likely weaken a little.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
Showing 1 to 30 of 2,309 entries
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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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