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A Comment -- General Comments From an Expert (A Commentary)
HOLD
Banks. If we go into a deflationary shock, all the banks will get hit. He would have some banks but not them all and not be overweight banks here. Everywhere but Canada, the banks are broke and are bad businesses. We have to get through this period.
Brian Acker, CAUnknown
N/A
Foreign Currencies. In the past you have just profited from the Canadian dollar going down. He thinks it will go into the $0.60s shortly. There is no indication the CAD$ is going to move back up yet.
Brian Acker, CAUnknown
BUY
COMMENT
Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. With the second wave arriving in many parts of the world, more volatility is to be expected in the market. The US elections will also be a key driver in the markets. Tax loss selling will also be an important mover for certain securities. Unlock Premium - Try 5i Free
Stockchase InsightsUnknown
COMMENT
Today's rally was driven by contradictory forces. The market traded like both Trump AND Biden will win the Nov. 3 election. Trump is recovering faster than expected from Covid, using treatments (Regeneron's) that prove that Covid can be beat. At the same time, Biden is getting strong polling numbers, making a landslide victory possible. Biden though wants to raise taxes, which is not good for markets, but Biden will have better, warmer relations with China which will benefit markets. Nobody wants a trade war. Meanwhile, a stimulus bill looks likely as talks continue. If so, then the government needs to raise interest rates. This will boost lagging financials. Energy: sell into strength; energy stocks surged today. Last week's market was insane, and today felt less uncertain.
COMMENT
Trump testing positive for covid. The markets are hoping for stimulus out of the US, but there is no value being added by today's news on that. There's a lot of nervousness in the markets right now.
Barry SchwartzUnknown
COMMENT
Currently, he's focusing on the long term, and to remind clients of what the main objective is. Low interest rates makes the uncertainty of investing go away. The only way to get returns is investing in risk assets like stocks.
Barry SchwartzUnknown
COMMENT
Canadian banks. The banks have recovered well. September wasn't great across the board, but they have outperformed US counterparts. There were good results out of banks last quarters. Banks have proven they are very resilient even in recessions.
Barry SchwartzUnknown
COMMENT
Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Markets are expected to be choppy for the next little while, especially with tax-loss selling and the US elections. Tech, industrials and consumer cyclicals would probably be the strongest sectors. Unlock Premium - Try 5i Free
Stockchase InsightsUnknown
COMMENT
Federal Infrastructure Bank. This was well expected. It further increases fiscal spending that will help lift us from the downturn. It's a good thing and will probably push the economy out of the pandemic. Renewable energy and rural broadband has been a focus for a while. The rural broadband may continue to support exodus towards rural areas.
Zachary Curry Unknown
COMMENT
Recovery is expected to be uneven. We have seen a nice recovery up from the bottom, but going forward, continued lumpiness and volatility is expected. A bumpier ride for investors going forward.
Zachary Curry Unknown
COMMENT
Gold and silver. The commodity side of gold and silver are seen as a hedge for inflation and volatility. However, he does not see gold to be seen positively with inflation since he doesn't think we will see too much of inflation. It could be a hedge for volatility. He prefers to focus on companies than commodities.
COMMENT
Will tech resume its upward march after some of the speculative air has been let out of the sector? It's possible. Unike 20 years ago, there are viable businesses behind these prices. The run expanded the multiples as the prices were rising faster than the fundamental growth. He's taken a barbell approach, holding some tech as well as some value like banks and industrials.
COMMENT
Rotation back into high dividend, low multiple value stocks? At some point, but getting the timing right is a mug's game. He will continue to participate in good quality businesses. When valuations get stretched, they sell a portion of a dominant position, for example Apple. When a stock is at the upper end of its historical valuation range is always a good time to take money off the table.
COMMENT
Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Tech will probably continue to lead compared to other sectors. They have the most earnings growth and the best balance sheets. It is also less impacted by covid. Industrial and consumer cyclicals should also be strong. Unlock Premium - Try 5i Free
Stockchase InsightsUnknown
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