Opinions by Larry Berman CFA, CMT, CTA | StockChase
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Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner

ON STOCKCHASE SINCE Jul 2002

ETF Capital Management Inc.
5160 Yonge St. Suite 1860Toronto, ONM2N 6L9
T: 888-383-9753 F: 888-383-9753
www.etfcm.com


Opinions by Larry Berman CFA, CMT, CTA


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2017-09-25

WATCH
Imperial Oil (IMO-T)

IMO-T vs. XOM-N.  Oil is not going to take off in a big way but he has been buying oil on weakness over the last while.  However he is now thinking of reducing his weight in oil.  Now is not the time to step in.  He would tend to stick with Canadian because of currency risk.  They are getting over bought.

integrated oils
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $39.550
Owned: Unknown

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2017-09-25

DON'T BUY
Exxon Mobil (XOM-N)

IMO-T vs. XOM-N.  Oil is not going to take off in a big way but he has been buying oil on weakness over the last while.  However he is now thinking of reducing his weight in oil.  Now is not the time to step in.  He would tend to stick with Canadian because of currency risk.  They are getting over bought.

integrated oils
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $80.980
Owned: Unknown

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2017-09-25

BUY
BMO US Put Write ETF. (ZPW-T)

Writes put options across many sectors.  The decline over the summer was all currency.  You might want to go to ZPH-T if the dollar gets down to a $0.80 dollar.  It has not had the down move of ZPW-T.

E.T.F.'s
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $17.650
Owned: Unknown

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2017-09-25

HOLD
BMO US High Dividend Covered Call ETF (ZWH-T)

The decline over the summer was all currency.  If North Korea escalates, the US$ could shoot up and then you would get an increase in the ETF.

Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $19.700
Owned: Unknown

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2017-09-18

N/A
A Comment -- General Comments From an Expert 

Markets.  Everyone is wanting to buy into dips but the markets keeps grinding higher.  He does not think the valuations are attractive however.  Quantitative tightening could be negative for markets.  It is huge to the markets that Trump brings tax reform.  Perhaps we will get a ‘sell the news’ impact. 

Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $0.020
Owned: _N/A

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2017-09-18

N/A
A Comment -- General Comments From an Expert 

Infrastructure ETF recommendation.  He is not sure there is one that is hedged to the Canadian dollar.  A lot of ETFs leave out the engineering companies.  ZGI-T and CIF-T are two Canadian ETFs but are not hedged.

Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $0.020
Owned: _N/A

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2017-09-18

N/A
A Comment -- General Comments From an Expert 

A full cost mutual fund is probably 2.5-3% cost.  You get active management.  An index ETF is lower cost but you don’t get the active management.

Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $0.020
Owned: _N/A

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2017-09-18

N/A
A Comment -- General Comments From an Expert 

Educational Segment.  (weekly series) What Investor Personality Are You?:  2. The Preserver / Conservative.  They have typically done well in their business or career and have always been conservative.  As they get older they get TOO conservative.  They tend to have more fixed income.  Over the last 30 years they would get 6-7% returns.  Over the next 10 years you are looking at a return of 2.5% before fees with higher risk.  He does not think you can re-think what kind of investor you are. 

Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $0.020
Owned: _N/A

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2017-09-18

N/A
A Comment -- General Comments From an Expert 

Move mutual funds to a Canadian Bank ETFs? It is not a good idea to concentrate your portfolio into one sector.  You should be globally diversified also.  ZWU-T gives you utilities and telcos.  It is 20% global.

Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $0.020
Owned: _N/A

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2017-09-18

HOLD
CitiGroup (C-N)

It is one of the most global banks we have.  It is not his favourite bank to own.  On a valuation basis there is probably upside, but these banks could easily get cut in half if we ever get a correction.

insurance
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $70.600
Owned: Unknown

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2017-09-18

BUY
Purpose Premium Yield Fund (PYF-T)

He loves the strategy.  They are consistently taking in yield in the fund and then pay out 6%.  The US exposure has hurt them a little over the last year.  Option strategy premiums are lower at the moment.

E.T.F.'s
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $19.200
Owned: Yes

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2017-09-18

HOLD
BMO S&P/TSX Oil & Gas ETF (ZEO-T)

In the next couple of months there may be a little more upside.  At the beginning of the year the stocks were overpriced.  He is going to trim when it gets back to the high end of its trading range.  Don’t add to it now but you could buy on pullbacks.

E.T.F.'s
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $10.500
Owned: Yes

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2017-09-11

N/A
A Comment -- General Comments From an Expert 

Markets.  Hurricane Irma has been downgraded, North Korea did not proliferate into something worse and so markets have rallied.  The back to back hurricanes you don’t see every day.  The hit to GDP could be greater.  100 Billion to fix things is just 5% of GDP and this is not good growth, although it is growth.  Prayers and wishes to those that have suffered through those however.  The CAD$ and the sudden shift to a more hawkish tone with the US backing off their rate hike expectations has had a dynamic shift in the currencies.  He projects the CAD$ up to 84 cents.  He wants US$ exposure.  The BOC surprised him as he did not expect increased rates.  If the CDU/CSU wins another term in Europe that will probably be good.

Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $0.020
Owned: _N/A

Must be logged in to use chart

2017-09-11

N/A
A Comment -- General Comments From an Expert 

Educational Segment.  (weekly series) What Investor Personality Are You?: 1. The Accumulator.  They have a confidence bias in what they do, but make common mistakes in investing because they believe they can control the outcome of the markets.  If you are a growth investor and focused on maximizing returns, you have to be aware you will have challenges.  E.g. AMZN-Q.  A compounded return of 37.5%.  When you look at all the ups and downs, look at the amounts.  You have to assume more volatility during corrections.  You have to ask if it is appreciate for you as an investor.  You have to be willing to sit tight every couple of years with a 30-50% correction.  You can’t get in and out repeatedly.  You have to understand what your emotional response will be.

Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $0.020
Owned: _N/A

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2017-09-11

WEAK BUY
Dollarama Inc. (DOL-T)

The $15 minimum wage.  Larry knows someone who owns some Tim Horton’s locations that may go under because of this.  You have to look at what the percentage of wages at DOL-T to find out what the impact is, although there will be one for sure.  The $3 and $4 merchandise is growing things.  He is a value investor and when a stock is at a huge multiple, he is not the right guy to ask about it.  Technically it is overbought.  He expects it to continue going.  You continue to trail your stop up around the trailing one month average.

Consumer Products
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $134.560
Owned: Unknown

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1 Comment

raziel

April 3rd 2015 at 5:48am

My preferrers have come down substantially as a result of lowered bank rates, I believe. Shouldn't an instrument with a fixed rate go UP when bank rates are lowered?


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