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
2017-06-26 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:
$0.000
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:
$0.000
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:
$0.000
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:
$0.000
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:
$0.000
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:
$0.000
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:
$0.000
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:
$0.000
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:
$0.000
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:
$0.000
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
2017-06-05 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Educational Segment.  Chart shown of Market Capitalization of the MSCI world metals and mining index vs. capitalization of GOOGL.  GOOGL is now worth more than the base metals sector of the entire world.  The metals and mining index has been coming down with a lot of it being the Chinese growth story tailing off.  Chinese growth is 100% fueled by Chinese debt.  China is the real catalyst for the next global downturn.  He has been watching Dim Sum Bonds.  It is the worst performing bond index in the world.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-06-05 BUY on WEAKNESS Must be logged in to use chart NFI-T New Flyer Industries Inc.

They build buses.  NFI-T and the TSX have negligible correlation.  There is a bus replacement cycle coming and so NFI-T could do very well, irrespective of what markets do.  Earnings growth is reasonable.  It is not expensive.  Buy on pull backs.


Price:
$56.320
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-05 BUY Must be logged in to use chart SLX-N Markst Vectors Steel Index E.T.F.

See his educational segment.  The bump we saw in China is over.  China will grow at a much lower rate than the last couple of years.  He is playing SLX-N as the best infrastructure play as it is steel in the US.


Price:
$36.500
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2017-06-05 DON'T BUY Must be logged in to use chart ZMT-T BMO S&P/TSX Base Metals ETF

See his educational segment.  It is not a good buy.  The bump we saw in China is over.  China will grow at a much lower rate than the last couple of years.  He is playing SLX-N as the best infrastructure play as it is steel in the US.


Price:
$9.320
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-05 COMMENT Must be logged in to use chart ZWB-T BMO Covered Call Cdn Banks ETF

Dividends aren’t going up.  The premium on the options is lower.  The dividends on the underlying banks are increasing, but the premium on the covered calls has been coming down.


Price:
$17.900
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
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
2017-05-15 BUY Must be logged in to use chart ZWE-T BMO Europe High Dividend Covered Call Hedged to CAD ET

This is the way he is holding Europe in his global dividend strategy. A great way to get a 6%-7% yield out of Europe. The yield has gone down, because the price is gone up significantly over the last year, but it is still a great diversifier away from North American equities.


Price:
$22.630
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
Yes
2017-05-15 COMMENT Must be logged in to use chart ZWH-T BMO US High Dividend Covered Call ETF

Exposure with dividends to the US through ETF’s, Dow, S&P, and/or techs? If you want dividends, the NASDAQ is not the place to go. Going back 100 years, the large cap US stock market, S&P has had a dividend yield of about 4%. Currently, the dividend payout is less than half of that. The companies that are not giving extra money back to shareholders in the form of dividends, are giving it back in a different way by buying back shares. If you want a dividend focused strategy, you want to be diversified. The Dow is a bad index because it is poorly weighted. One of his favourite ways to play dividends in the US is through an ETF, ZWH. You are getting a yield of around 3.5%-4% on the dividend side, and it is diversified across all the economic sectors, and has a covered call overlay to enhance the yield.


Price:
$21.020
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
Unknown
2017-05-08 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  There was a little bit of sell the news in France, but it was the lowest turnout (40%) and 10% did not mark either party on the ballot.  He is pessimistic about it.  Political risk has passed a hurtle but has not turned the corner on risk because of the Italian election coming up.  Italy is far bigger a risk than France in terms of their debt.  Markets have anticipated the victory and the currency has been up over the last couple of weeks.  It is the last part of S&P earnings.  The last leg is the retailers.  News coming out of department stores shouldn’t be that rosy and will put a damper on this earnings season.  A lot of good news is priced in.  Chasing performance this late in the cycle is a fool’s game.  He is in the sell-the-news mode.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-05-08 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Educational Segment.  When you invest globally, currency is the most important consideration.  It makes a huge difference to your return.  He showed a chart of long term returns of international ETFs with and without currency hedges.  Currency explains about 70% of the difference in returns.  It is the biggest factor over the years.  This is not the best time to get into Europe except with a currency hedged, covered call ETF.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
_N/A
2017-05-08 BUY Must be logged in to use chart PSA-T (Not List Purpose High Interest Savings

They have secured high interest savings accounts with various institutions.  They have generated a pretty decent yield and turned it into an ETF yielding about 1%.  It is pretty good yield for a money market. 


Price:
$0.000
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-05-08 COMMENT Must be logged in to use chart VSN-T Veresen Inc

Infrastructure and pipelines.  The pipeline sector is not cheap.  Lots of money is going in because there is great dividends.  He holds this through ZWU-T.  It has a covered call overlay and high dividends.  He would not jump into VSN-T because it has flat lined after the takeover offer.


Price:
$18.710
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-05-08 HOLD Must be logged in to use chart WSP-T WSP Global Inc.

He likes the engineering space because they will benefit from infrastructure spending.  They are breaking out to all time highs.  This is a bullish thing for the stock.  Forward earnings estimates make this not look that expensive.  Stay with it until we start to break trend, moving below $43.  (Analysts’ target $51.50).  He does not like the risk/reward and so does not like it.  He does not like it short term.  You can stick with it if the trend continues, but there is not a lot of upside potential.


Price:
$49.800
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-05-08 BUY Must be logged in to use chart ZPH-T BMO US Put Write Hedged to CAD

ZPW-T vs. ZPH-T.  ZPH-T is hedged against currency risk.  The cost of hedging is the differential in the cost of writing the forward contract.  He is fully hedged on all portfolios.  The CAD$ may go back to $.80.  If markets sell off and contracts come into the money they may get taken out.   A 20% down for the market will cause many of their stocks to come down into the money.


Price:
$19.900
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-05-08 DON'T BUY Must be logged in to use chart ZPW-T BMO US Put Write ETF.

ZPW-T vs. ZPH-T.  ZPH-T is hedged against currency risk.  The cost of hedging is the differential in the cost of writing the forward contract.  He is fully hedged on all portfolios.  The CAD$ may go back to $.80.  If markets sell off and contracts come into the money they may get taken out.   A 20% down for the market will cause many of their stocks to come down into the money.


Price:
$19.650
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
No
2017-05-08 BUY Must be logged in to use chart ZWE-T BMO Europe High Dividend Covered Call Hedged to CAD ET

There is always foreign tax withholdings.  You need to focus on the diversification of being in other parts of the world.  The benefits you get from diversification globally override tax considerations.  It has been a pretty clear ride up and is his favourite way to play Europe.


Price:
$22.370
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
Showing 1 to 60 of 2,309 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.