Market Commentary — Page 469

Market Commentary

COMMENT

REITs right now? For REITs, he zeros in on two areas: multi-residential and industrial. Look at IIP.UN. It's a pretty good place to park capital for the long term. Industrial REITs are still attractive, even with their bounce off the lows. He's not interested in office REITs at all.

COMMENT

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The current market influences may be short term. Trend and fundamentals may be evolving but there are underlying reasons. Stimulus has resulted in asset values increasing in general. Things can change if there is real inflation, higher interest rates or a much weaker market. Diversification will likely show its benefit in a different environment than today’s. Unlock Premium - Try 5i Free

COMMENT

Stimulus is driving markets now, but buy any dips on weakness. More money will flow into stocks which will continue to drift higher. But markets don't go straight up. However, markets in the next 6-12 months will see a continued rise. Maybe in 2022, one could be more defensive. Markets are not tied to Main St, and it's unfortunate that some businesses will continue to suffer. Look at the value stocks.

COMMENT

US vs. Canadian banks It's growth vs. income. Canadian bank are an oligopoly: nice dividends and safe, but slower growth. US: lower yields, faster growth. There are more opportunities--and volatility--with US banks. It depends on what you're looking for.

COMMENT

There was no show today in observance of Family Day.

COMMENT

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. In terms of market outlook for this year, 5i does not see a real cause for concern for 2021. The world is recovering from a recession and low-interest rates support equities. Earnings growth helps with the higher valuation. Make sure to diversify with bonds and cash to levels you can sleep well at night. Unlock Premium - Try 5i Free

COMMENT

Market outlook. It's not as easy to deploy new capital as it has been in the past with markets reaching all time highs. The backdrop is still positive. There are 3 areas to watch: covid vaccines roll-out, monetary policy that is expected to remain easy, and earnings are positive.

COMMENT

Recovery play. The Canadian real estate sector has lagged for a little while and the discounting is over done. A good recovery play. There are also stocks that are like Uber, Disney and Booking that are related to the reopening of the economy. There are still opportunities but it is harder to find good value in the broader market.

N/A

Editor's note. The call with the expert dropped and the show was cut short.

COMMENT

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. On the shift from growth to value, the distinction between value and growth stocks is debatable and changing. Value stocks are usually more stable companies with strong fundamentals but trade at lower multiples. There are also companies that are more growthy but trade at lower multiples, which offer good value. Unlock Premium - Try 5i Free

COMMENT

Global, aging population is one of the few long-term, indefinite themes. Definitely. In the medium- to long-term, you spend on medical devices and drugs as you age. That structural backdrop remains in place. Short-term, there are a number of catalysts such as the US election is over and vaccine development. Public and political perception is bestowing a halo effect on companies. These companies are growing earnings and have great clarity. This sector is trading at a 20-year discount to the market, and he doesn't think that's reasonable given the tailwinds.

COMMENT

What about investing in some of the experimental areas in biotech? There's a lot of rotation from growth in the markets, even though we're hitting new highs. It's not really going from growth to value; it's going from growth to momentum. He sees it in the small cap biotech space. Russell small cap healthcare is up about 75% compared to large cap healthcare up 9%. He prefers to look at good quality businesses with above-market earnings growth at a 20-year discount on valuation. Be aware of this when you start looking at new areas.

COMMENT

No US agenda on healthcare changes? The blue wave suggests that healthcare will do well in this environment. Political landscape has really improved. Won't see the rhetoric from the last couple of years, so it's a more institutionally investable sector.

COMMENT

Speculative froth in this market? He saw a statistic that 1/3 of all investors in South Korea are teenagers or under age 13. One had a 43% return last year, all in one stock. Similar to 1999. People aren't discounting cashflows to find the true value of a company. When the music stops, you don't want to be the last one looking for a chair. If you're investing based on noise, when you double your money, at least take half your cash off the table. When things turn bad, they can go badly very quickly.

COMMENT

Will there eventually be a reckoning with governments running up huge deficits? Once we reach herd immunity of 70-80% and people bust out of their houses and start spending again, given 30% of personal spending has been cheques from the government, inflation will start to move higher. This isn't good for the US dollar, so emerging markets will start to overwhelm the US market. Increased demand, reduced supply. To control inflation, the Fed will increase interest rates, which usually means the stock market gets clocked. We may get the taper tantrum from 2013 in the next year to 18 months.

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We paraphrase the experts by hand, we watch the shows and write down what we understood from the experts’ comments. We are human and can make mistakes, help us fix any errors. If you see something that you know is not right or if there is a problem with the site, feel free to email us at : [email protected].

A Comment -- General Comments From an Expert (A Commentary)

REITs right now?(A Commentary)

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research.(A Commentary)

A Comment -- General Comments From an Expert(A Commentary)

US vs. Canadian banks (A Commentary)

A Comment -- General Comments From an Expert(A Commentary)

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research.(A Commentary)

Market outlook.(A Commentary)

Recovery play.(A Commentary)

Editor's note.(A Commentary)

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research.(A Commentary)

Global, aging population is one of the few long-term, indefinite themes.(A Commentary)

What about investing in some of the experimental areas in biotech?(A Commentary)

No US agenda on healthcare changes?(A Commentary)

Speculative froth in this market?(A Commentary)

Will there eventually be a reckoning with governments running up huge deficits?(A Commentary)

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