Viewing Expert David Burrows | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

David Burrows , President & Chief Investment Strategist

Barometer Capital Management


Date Signal Chart Symbol Company Opinion Price
2016-12-13 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. He has been bullish all year. In June, he felt that very clear leadership had emerged in financials, industrials, energy and technology. This feeling hasn’t changed, other than accelerating since the election. Sadly, the most over owned parts of the market, bond proxies, utilities, telcos and REITs had the highest risk, given that we were so low in interest rates. Trying to position in the market is way too defensive. Cash is sitting on the sidelines. $180 billion came out of equity mutual funds over the course of the year, and that money is not yet replaced, not even close. For those waiting for some kind of 10% correction, they are going to be disappointed. The economy is inflected and valuations for equities can expand from here. The 5 quarters of negative earnings growth in 2015 was an inventory correction. At precisely the moment the market got most bearish, February 2016, the global purchasing managers index (PMI) turned higher. Economic indicators started beating expectation. What was expected to be a 5th quarter of earnings decline, turned into earnings gains and revenue gains, which began a cycle of estimate revisions. Post the election, most analysts are gun shy about raising their numbers until they see more concrete evidence. As a market participant, you can’t do that. By the time it is clear, you are too late.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
_N/A
2016-12-13 WEAK BUY Must be logged in to use chart AGU-T Agrium

Agrium and Potash have gone through a pretty good basing period, and technically have broken out. You could probably own either one. He prefers Agrium, which gives a broader base. Ultimately, they are going to trade in line with each other. They have both pulled back recently, giving you an entry point. You don’t want to be overly focused in this group.


Price:
$135.300
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2016-12-13 TOP PICK Must be logged in to use chart BAC-N Bank of America

For people that need income, they need to own things that will give them a rising stream of income, to offset the impact of rising interest rates. This bank has a lot of levers. Higher interest rates certainly help them to get better net interest margins. Deregulation can help them on the costs side. Better economic growth means their domestic business improves. 85% of their revenues come out of the US. They have a wonderful Capital Markets and Wealth Management business in their Merrill Lynch division. It has 20% ROE. Trading at less than 1X BV. He is expecting significant dividend growth going forward, north of 20% a year. Dividend yield of 1.34%. (Analysts’ price target is $21.33.)


Price:
$22.610
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2016-12-13 COMMENT Must be logged in to use chart BMY-N Bristol Myers Squibb

The pharma group went out of favour 3-4 months ago. That became a source of funds for people to rotate into other industries. We are now heading into year-end, with a market where buying is broadening out into more and more sectors. The healthcare sector seems to be catching a little bit of a bid, it is improving. He would describe the sector as being “neutral, to a little better”. Within the sector, this company has had some disappointment recently. He would prefer something like a Merck (MRK-N), which sets up better, and has a broad-based portfolio of products.


Price:
$57.170
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2016-12-13 BUY Must be logged in to use chart C-N CitiGroup

US banks have averaged trading at about 2X BV. For many years, they have traded at 3 and 3.5 times Book Value. BV has been depressed, because people have been very conservative in valuing their loan books, because of all the regulations. This bank has 29,000 compliance officers. The billions of dollars that have been layered in because of the Dodd Frank and the new regulation, is enormous. These of the types of companies that can double, and you are not taking a ton of risk. They are under owned by institutional investors. This should be a big part of portfolios in the current market. (See Top Picks.)


Price:
$59.790
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2016-12-13 PAST TOP PICK Must be logged in to use chart CASH CASH

(A Top Pick Jan 19/16.) He is currently fully invested now. There was a basic pull back globally this time last year. He had roughly 50% of his portfolios exposed to equities, with the balance either in cash or hedged. We are in the early stages of a secular, multiyear revaluation of equities, relative to other asset classes.


Price:
$0.010
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2016-12-13 BUY Must be logged in to use chart DIS-N Walt Disney

Following the strength in financials, industrials, energy and technology, in the last 3-4 weeks, consumer discretionary has started to join this rally. He likes the sector. One concern has been subscriber base at ESPN, and he thinks that will continue to be a concern. However, even the media group itself has started to lift. Probably not a bad entry point.


Price:
$103.850
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2016-12-13 TOP PICK Must be logged in to use chart DOW-N Dow Chemical

Going through a merger with DuPont, which should be approved sometime in 2017. There will be a spin out at 3 different businesses. They have grown their dividend at about 20% a year over the last 5 years. There is tremendous cost savings to be had. He likes the industrials group. Also, the feed stock that goes into the materials they produce, are at the lowest costs. Dividend yield of 3.16%. (Analysts’ price target is $61.44.)


Price:
$58.150
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2016-12-13 DON'T BUY Must be logged in to use chart G-T Goldcorp Inc

This is trading worse than 88% of the stocks on the TSX, over the course of this year. It is not showing any signs of reversing. He would not be buying as a long-term Hold or long-term Buy. He is Short gold stocks right now.


Price:
$17.390
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2016-12-13 COMMENT Must be logged in to use chart GWO-T Great West Lifeco

Great West Life (GWO-T), Sun Life (SLF-T) or Manulife (MFC-T)? He has quite a bit of exposure to life insurance right now through Manulife and Sun Life, and they both look very attractive. Interest rates are likely going to work their way slowly higher over the next several years.


Price:
$35.580
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2016-12-13 COMMENT Must be logged in to use chart JNJ-N Johnson & Johnson

With the pickup in financials, (which were really under owned by institutions, portfolio managers and investors), they looked at their holdings to see what they could sell, because there wasn’t a lot of new money coming into the market. A lot of the leading technology stocks and healthcare stocks sold off. In the last 2 weeks, we are starting to see net flows into equities, which could be the beginning of that great rotation that people talk about. Right now, healthcare is not one of the leading groups. There has been some tax loss selling, but feels we are getting towards the end of that. Some of these lagging groups are starting to bubble up. This is a great quality company.


Price:
$115.890
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2016-12-13 BUY Must be logged in to use chart JO-N iPATH DJ-UBS Coffee

Looking at the longer-term chart of coffee, it made a turn higher in about March, and had a pretty good lift from $17 to about $26. It has now pulled back into support at about $21. In general, the commodities are improving. We are seen strength in a whole bunch of different groups. This looks okay here.


Price:
$20.480
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2016-12-13 PAST TOP PICK Must be logged in to use chart MCD-N McDonalds

(A Top Pick Jan 19/16. Up 7.71%.) He would own this today, but prefers more economically sensitive sectors now.


Price:
$122.680
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2016-12-13 COMMENT Must be logged in to use chart MFC-T Manulife Financial

Great West Life (GWO-T), Sun Life (SLF-T) or Manulife (MFC-T)? He has quite a bit of exposure to life insurance right now through Manulife and Sun Life, and they both look very attractive. Interest rates are likely going to work their way slowly higher over the next several years. He would also consider Prudential Financial (PRU-N), which looks very attractive. The rate structure in the US is probably more bullish for the insurance companies, than the rate structure in Canada.


Price:
$24.390
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2016-12-13 COMMENT Must be logged in to use chart MRE-T Martinrea

This has a 1.4% dividend yield. The stock is getting a little better. The auto sector is improving. He would prefer something like General Motors (GM-N) which gives a 4% yield, with a dividend that will grow 20% a year for the next 3-4 years.


Price:
$8.560
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
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