Manulife Financial (MFC.TO)

A year it ago, it traded at a dirt cheap 6-7x PE. Many thought it was left for dead with bad insurance contracts. In Dec. 2023, they sold a lot of those contracts at a decent price. That's when he entered this. But he recently sold this to buy TD (which has more upside).

Good growth in Asia. Asset management becoming a more important part of the business for all lifecos. Probably trading at higher end of historical levels. More room to go. Solid holding as long as it continues to execute. Yield is relatively attractive, increases over time.

Great performance in 2024 with good dividend yield. Does not own shares. Good growth prospects ahead. Would recommend buying on weakness. 

Likes it. Globally diversified. Slightly better dividend than SLF right now, though he likes both names. Also slightly cheaper than SLF, so that's why MFC is in his portfolio.

A lifeco, but also offers investment products. Solid, dependable. 

He held this a long time, patiently. Shares finally broke above $28 last year after a long repair period. There remains upside as it raises its dividend and has diversified sales in North America and Asia.

All the insurance names, both in Canada and the US, continue to work. If interest rates do, in fact, go higher, that will only be beneficial for lifecos and other insurers. The chart looks fantastic. Good run, so there is some weakening in the intermediate term.

If a long-term holding, best thing you can do is sit on your hands and do nothing except participate in the DRIP program. Especially if he's right on the broader call of rates being 8-10% in the secular bear market of 2030-40, should be a big tailwind for insurers.

Great business, especially with current interest rates. Would be top insurance pick in Canada. Excellent business with strong management team. 

It is one non-bank financial company that keeps on going and going. Insurance companies actually do better when longer term interest rates go up and are one of the better investments when this happens. He owns it in the value momentum strategy fund and it has the potential to expand internationally.

The CEO, retiring next year, is doing a fine job, selling unprofitable product lines, and growth resumed in Hong Kong. MFC is now fully valued. She owns another insurer, though.

Really nice footprint in Asia. Its products still resonate with consumers, despite deflationary situation in China. He adds on pullbacks.

No, you can never do that. Remember that MFC plunged during 2008 because it got into all kinds of trouble. Today, management has learned a lot from that. He sees big upside in their insurance, US and Asian operations. Still offers decent value and dividend growth. However, insurance companies are prone to serious slides if they make a bad misjudgement.

It has been breaking out of its 10 year chart. The legacy issues have been addressed. It is having success in Asia and the wealth management field. Close to 45% of MFC's business is in Asia.

Based for a long time, then broke out. That's why it's important when you see a base like that, look for opportunities from a technical perspective. Still in an upward trend, stay in it until it breaks that trend.

Financials have recently been doing well in anticipation of an improving NA economy. Instead of a recession, looking like a soft landing with potential for upside. In Canada, the #1 ranked financial services company in his rankings. Its gain, which started about a year ago, has been very consistent and well supported. Yield is 3.6%.