Stock price when the opinion was issued
The theme for today is "What wins Stanley Cups is defense." Very defensive name. Rare combination of dividend that grows every year by ~7%, value, resilience. Trades at discount of 23% to NAV; he expects this to narrow to 10-15% as the company scales more into alternative assets.
Tepid sentiment on GWO has provided an opportunity to buy; now has upwards earnings momentum. Trades at 9x PE, growing at 14.6%. May be able to get it slightly cheaper. Yield is 4.80%.
With rates going down, you could consider a fixed-rate preferred. He's been buying POW.PR.D, yielding about 6.1%. Beauty of it is that it doesn't reset, it's perpetual. So if the BOC moves rates lower, these preferred shares won't reset to a lower level. Gets more valuable as the BOC lowers interest rates.
He's been buying. Great valuation, holding-company discount, decent growth rate of 6-8%. Nice dividend with a good payout ratio. Technically over its skis, but likes the name long term. Better entry at $44-45.
Only problem is that when bull markets start to give way to bear markets, people look for areas immune from tariffs. If the economy rights itself, and you see $$ going into names like tech again, this type of name will fall off. If we go into a real downturn, money will leave the market and this name will go lower along with everything else.