General comments from an expert | StockChase
10742
A Comment -- General Comments From an Expert (A Commentary)

Last Price Recorded: $0.0200 on 0000-00-00

ON STOCKCHASE SINCE Oct 2000

Sometimes an expert talks about things other then a particular stock. We think it may be useful to include it, so this is the spot we use.

10742
A Comment -- General Comments From an Expert (A Commentary)

Last Price Recorded: $0.0200 on 0000-00-00

ON STOCKCHASE SINCE Oct 2000

Sometimes an expert talks about things other then a particular stock. We think it may be useful to include it, so this is the spot we use.


General comments from an expert


Signal Opinion Expert
N/A
General Market Comment 

December 12, 2017

Economy. This economic expansion has been slow. We are in the 8th year of a recovery. The US economy bottomed in Q3 of 2009, and the cumulative GDP growth is 19%, whereas the historical average is 26%, so there is still a lot of headway. We are only getting 2.5% GDP growth and in the 8th year of recovery, and when you think of all the accommodation the Fed has put into the system, we are in an environment where we will be lower for longer. Now we are getting other economies, the euro zone, Japan, China and emerging markets kicking in, which is helping the global economy. The Canadian market has really lagged, particularly since the composition of the TSX includes a heavy weighting of energy and mining.

Economy. This economic expansion has been slow. We are in the 8th year of a recovery. The US economy bottomed in Q3 of 2009, and the cumulative GDP growth is 19%, whereas the historical average is 26%, so there is still a lot of headway. We are only getting 2.5% GDP growth and in the 8th year of recovery, and when you think of all the accommodation the Fed has put into the system, we are in an environment where we will be lower for longer. Now we are getting other economies, the euro zone, Japan, China and emerging markets kicking in, which is helping the global economy. The Canadian market has really lagged, particularly since the composition of the TSX includes a heavy weighting of energy and mining.

Unknown
Christine Poole

CEO & Managing Director, GlobeInvest Capital ...

PricePrice
$0.020
Owned Owned
Unknown

N/A
General Market Comment 

December 12, 2017

Market.  The new Cannabis for 2018 is Bitcoin, but he likes to think it is Block Chain upon which Bitcoin is based that is the new Cannabis.  Block chain, people are beginning to realize, is very serious.  Everyone has suddenly woken up and realized they have to take a hard look at it.  It will make easier transactions over international borders.  It is being used all over the world real time already.  It is a software/hardware situation.  He bought in a year ago.  There are new companies coming into it daily, although only one is publicly traded in Canada.  People are focused on the frenzy of the amazing gains and maybe someday there will be an amazing tumble in Bitcoin.  People may not take all the profit this month because they will have to pay the tax man for the capital gains.  Cannabis is going to carry on and the high fever of Bitcoin will continue.  He only invests in Block Chain though, not Bitcoin.

Market.  The new Cannabis for 2018 is Bitcoin, but he likes to think it is Block Chain upon which Bitcoin is based that is the new Cannabis.  Block chain, people are beginning to realize, is very serious.  Everyone has suddenly woken up and realized they have to take a hard look at it.  It will make easier transactions over international borders.  It is being used all over the world real time already.  It is a software/hardware situation.  He bought in a year ago.  There are new companies coming into it daily, although only one is publicly traded in Canada.  People are focused on the frenzy of the amazing gains and maybe someday there will be an amazing tumble in Bitcoin.  People may not take all the profit this month because they will have to pay the tax man for the capital gains.  Cannabis is going to carry on and the high fever of Bitcoin will continue.  He only invests in Block Chain though, not Bitcoin.

Unknown
Michael Smedley

Exec VP & Chief Investment Officer, Morgan Meighan & Ass...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

December 11, 2017

Market.  Bitcoin futures.  The initial expectations were that you would see bears start to raid it and sell it aggressively.  In fact it seemed to go the other way.  When you look at the volume of a futures contract, we don’t know the amount of open interest.  It may be the same people trading them back and forth and back and forth.  He would wait to see the liquidity and the depth of the market before stepping into it.  Larry prefers Gold to Bitcoin as Bitcoin has no intrinsic value. 

He thinks there is a good chance Trump will break NAFTA.

Market.  Bitcoin futures.  The initial expectations were that you would see bears start to raid it and sell it aggressively.  In fact it seemed to go the other way.  When you look at the volume of a futures contract, we don’t know the amount of open interest.  It may be the same people trading them back and forth and back and forth.  He would wait to see the liquidity and the depth of the market before stepping into it.  Larry prefers Gold to Bitcoin as Bitcoin has no intrinsic value. 

He thinks there is a good chance Trump will break NAFTA.

Unknown
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$0.020
Owned Owned
_N/A

DON'T BUY
General Market Comment 

December 11, 2017

Bitcoin Options.  The underlying volatility is massive.  The puts and call premiums are going to be huge.  He does not believe there is an underlying derivatives market.  It is not a mature market.

Bitcoin Options.  The underlying volatility is massive.  The puts and call premiums are going to be huge.  He does not believe there is an underlying derivatives market.  It is not a mature market.

Unknown
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$0.020
Owned Owned
No

BUY
General Market Comment 

December 11, 2017

Gold.  He is a value investor and has been nibbling away on gold.  Don’t make it all of your portfolio.  See his educational segment.

Gold.  He is a value investor and has been nibbling away on gold.  Don’t make it all of your portfolio.  See his educational segment.

Unknown
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$0.020
Owned Owned
Unknown

N/A
General Market Comment 

December 11, 2017

Educational Segment.  Bitcoin vs. Gold.  Bitcoin was seen as possibly a gold disrupter.  The biggest cost of investing is the volatility in order to take the position.  Is Bitcoin appropriate?  He thinks it is a bubble that will break because it is worth nothing.  If you want to add it to your portfolio you have to understand if it will help you or hurt you.  Gold does not do the same thing as equities do.  It gives you a diversifying effect.  If you adjust it for risk and then compare to Bitcoin, there is a daily volatility to Bitcoin of 10% and so it is hard to add this to your portfolio and improve your chances of an increase to its return.  If you can stomach the ups and down, then maybe Bitcoin is appropriate for you.  He thinks Bitcoin is close to zero in value and it is just a bubble.  Block chain is a different story and has no relation to an investment in Bitcoin.  Don’t trade futures in Bitcoin because of the leverage.  Leave it to the professionals.

Educational Segment.  Bitcoin vs. Gold.  Bitcoin was seen as possibly a gold disrupter.  The biggest cost of investing is the volatility in order to take the position.  Is Bitcoin appropriate?  He thinks it is a bubble that will break because it is worth nothing.  If you want to add it to your portfolio you have to understand if it will help you or hurt you.  Gold does not do the same thing as equities do.  It gives you a diversifying effect.  If you adjust it for risk and then compare to Bitcoin, there is a daily volatility to Bitcoin of 10% and so it is hard to add this to your portfolio and improve your chances of an increase to its return.  If you can stomach the ups and down, then maybe Bitcoin is appropriate for you.  He thinks Bitcoin is close to zero in value and it is just a bubble.  Block chain is a different story and has no relation to an investment in Bitcoin.  Don’t trade futures in Bitcoin because of the leverage.  Leave it to the professionals.

Unknown
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

December 11, 2017

Market.  There is a lot of speculation on Bitcoin, Crypto currency and Marijuana, where valuations make no sense and this is a sign of a top.  Lots of money is going into ETFs with companies that may have no earnings.  Once a manager gets too big they become the index and so cannot beat it.  There are a lot of smaller managers that can easily beat the market over the long term.  He is holding more cash in his funds than normal bit he is seeing a lot opportunities as money moves into ETFs and out of mid and small cap stocks. 

Market.  There is a lot of speculation on Bitcoin, Crypto currency and Marijuana, where valuations make no sense and this is a sign of a top.  Lots of money is going into ETFs with companies that may have no earnings.  Once a manager gets too big they become the index and so cannot beat it.  There are a lot of smaller managers that can easily beat the market over the long term.  He is holding more cash in his funds than normal bit he is seeing a lot opportunities as money moves into ETFs and out of mid and small cap stocks. 

Unknown
Stephen Takacsy, B. Eng, MBA

Chief Investment Officer & Portfolio Mgr, Lester Asset Managem...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

December 11, 2017

Market. We are in one of the greatest Bull Markets of our lifetime. Valuations have been increasing, and thinks they can still go higher. In the 60’s had low interest rates for a long period of time, and we saw stocks getting into the 40, 50, 60 PE range, which were high quality companies. If you had bought them, even though they got badly slammed in the 70’s correction and the higher interest rate yield in the inflationary time period, by 2000 you had your money back. We could be in for a repeat of that.

Market. We are in one of the greatest Bull Markets of our lifetime. Valuations have been increasing, and thinks they can still go higher. In the 60’s had low interest rates for a long period of time, and we saw stocks getting into the 40, 50, 60 PE range, which were high quality companies. If you had bought them, even though they got badly slammed in the 70’s correction and the higher interest rate yield in the inflationary time period, by 2000 you had your money back. We could be in for a repeat of that.

Unknown
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

December 11, 2017

Gold. Which company would you invest in? He doesn’t believe in investing in gold stocks. Most gold stocks are run for ounces produced, rather than profitability. We always get into trouble when the commodity prices dip. If you have to own gold, buy the high-quality ones. Franco Nevada (FNV-T) has been the best play in the sector, because they are not producers, but just take X% of the production and have no costs.

Gold. Which company would you invest in? He doesn’t believe in investing in gold stocks. Most gold stocks are run for ounces produced, rather than profitability. We always get into trouble when the commodity prices dip. If you have to own gold, buy the high-quality ones. Franco Nevada (FNV-T) has been the best play in the sector, because they are not producers, but just take X% of the production and have no costs.

Unknown
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

December 8, 2017

Market. For him, this is the best time of year. A lot of people wait until the end of the year to Sell their losers. It’s the simple law of supply and demand that puts more supply out there, therefore the price generally goes down. He gets to take advantage of that. This year there is going to be less tax loss selling because stocks have done well. He isn’t looking to buy a lot of stocks, perhaps 3 to 7.

Market. For him, this is the best time of year. A lot of people wait until the end of the year to Sell their losers. It’s the simple law of supply and demand that puts more supply out there, therefore the price generally goes down. He gets to take advantage of that. This year there is going to be less tax loss selling because stocks have done well. He isn’t looking to buy a lot of stocks, perhaps 3 to 7.

Unknown
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

December 8, 2017

Markets. He doesn’t see systemic risks or gross overvaluation, but does see a premium valuation in the markets. That means he has to be a.) a little more selective in stocks he owns and b.) if he does get a little more cautious, how does he migrate the portfolio to a more cautious stance. To do this, he starts to look at larger cap names instead of owning a bunch of junior or intermediate companies.

Markets. He doesn’t see systemic risks or gross overvaluation, but does see a premium valuation in the markets. That means he has to be a.) a little more selective in stocks he owns and b.) if he does get a little more cautious, how does he migrate the portfolio to a more cautious stance. To do this, he starts to look at larger cap names instead of owning a bunch of junior or intermediate companies.

Unknown
Veeral Khatri

Partner and Portfolio Manager, JC Clark...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

December 8, 2017

Lumber stocks? The time to buy these is when there’s blood in the streets and everybody is negative and lumber prices have collapsed. Currently, the picture is very rosy. He can’t buy the stocks right now knowing that lumber is a very inherently volatile commodity. Wait for a pullback.

Lumber stocks? The time to buy these is when there’s blood in the streets and everybody is negative and lumber prices have collapsed. Currently, the picture is very rosy. He can’t buy the stocks right now knowing that lumber is a very inherently volatile commodity. Wait for a pullback.

Unknown
Veeral Khatri

Partner and Portfolio Manager, JC Clark...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

December 7, 2017

Market.  Every month this year the S&P has been up.  Since 1987, we have not had a calendar year with 12 consecutive positive months on the S&P.  It seems like it is a little more on the radar these days.  You have synchronized global growth creating greater global output.  This tightens the labour market.  It attracts capital investment.  He thinks we are getting increasing productivity that could surprise to the upside.  However, we know we are closer to the end of the party than the beginning.  We have to be careful about it.  He thinks inflation is coming.  If rate hikes are coming, he likes the slow and steady policy.  Every end to a cycle has its own flavour.  This one has rates going up.  There could be more increases in futures in 2018.  The market is pricing in two increases.  It could end with compressing valuations as well as decreasing bond prices and decreasing liquidity.

Market.  Every month this year the S&P has been up.  Since 1987, we have not had a calendar year with 12 consecutive positive months on the S&P.  It seems like it is a little more on the radar these days.  You have synchronized global growth creating greater global output.  This tightens the labour market.  It attracts capital investment.  He thinks we are getting increasing productivity that could surprise to the upside.  However, we know we are closer to the end of the party than the beginning.  We have to be careful about it.  He thinks inflation is coming.  If rate hikes are coming, he likes the slow and steady policy.  Every end to a cycle has its own flavour.  This one has rates going up.  There could be more increases in futures in 2018.  The market is pricing in two increases.  It could end with compressing valuations as well as decreasing bond prices and decreasing liquidity.

Unknown
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

December 7, 2017

Market. We’ve had a very brief pause in the markets and they’re starting to move up again. There was a little rotation out of technology and it is starting to move up again after a couple of days of moving down. He remains very constructive given that global economic data continues to expand and corporate earnings is accelerating. Expects global economic expansion to run through 2018 and lift global markets to new highs. There are some risks ahead. We are going to see Central Banks tightening throughout 2018, probably twice in Canada and 3 or 4 times in the US. Stock valuations are a little elevated, so we need to see earnings push forward in order to keep markets higher. If we see potential for more geopolitical disruption, that is going to be a risk for the market. Buying the dips is a strategy you want to continue to use. A lot of people are afraid because of the long run without a major correction or even a minor correction, but fear is something never to be trusted.

Market. We’ve had a very brief pause in the markets and they’re starting to move up again. There was a little rotation out of technology and it is starting to move up again after a couple of days of moving down. He remains very constructive given that global economic data continues to expand and corporate earnings is accelerating. Expects global economic expansion to run through 2018 and lift global markets to new highs. There are some risks ahead. We are going to see Central Banks tightening throughout 2018, probably twice in Canada and 3 or 4 times in the US. Stock valuations are a little elevated, so we need to see earnings push forward in order to keep markets higher. If we see potential for more geopolitical disruption, that is going to be a risk for the market. Buying the dips is a strategy you want to continue to use. A lot of people are afraid because of the long run without a major correction or even a minor correction, but fear is something never to be trusted.

Unknown
Stan Wong

Director & Portfolio Manager, Private Wealth Manag...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

December 6, 2017

Market. One side looks pretty good. Confidence is high and there is earnings growth. US tax reform and Wall Street Reform are positive which helps earnings. The other side can’t be ignored if you are managing money. It’s how investors’ psychology plays into all this. After years of positive markets, with relatively low volatility, he expects that over the next 12-18 months, it will look uglier than it really is because, as we start to get volatility and a pullback, it will be further compounded by it being the first time it’s happened in a while. Once that happens, combined with the fact that there is a lot of bond money in equities, when we start to see some corrections, the volatility and the depth of how much markets go down, will be compounded by investors moving more capital out, taking a pause to digest the fact that every $1 million is now worth something like $900,000, etc. He feels pretty good about the earnings trajectory and what is going on from a global economic perspective. We will be going through a period that is relatively choppy.

Market. One side looks pretty good. Confidence is high and there is earnings growth. US tax reform and Wall Street Reform are positive which helps earnings. The other side can’t be ignored if you are managing money. It’s how investors’ psychology plays into all this. After years of positive markets, with relatively low volatility, he expects that over the next 12-18 months, it will look uglier than it really is because, as we start to get volatility and a pullback, it will be further compounded by it being the first time it’s happened in a while. Once that happens, combined with the fact that there is a lot of bond money in equities, when we start to see some corrections, the volatility and the depth of how much markets go down, will be compounded by investors moving more capital out, taking a pause to digest the fact that every $1 million is now worth something like $900,000, etc. He feels pretty good about the earnings trajectory and what is going on from a global economic perspective. We will be going through a period that is relatively choppy.

Unknown
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$0.020
Owned Owned
_N/A

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