Opinions by Stan Wong | StockChase
1734
Stan Wong

Director & Portfolio Manager

ON STOCKCHASE SINCE Jun 2009

Private Wealth Management, ScotiaMcleod
675 Cochrane DriveSuite 115Markham, ONL3R 0B8
T: 905-752-1996 F: 905-752-1995 stan.wong@scotiamcleod.com
www.stanwong.com


Opinions by Stan Wong


Signal Opinion Expert Chart
COMMENT
General Market Comment 

July 4, 2018

Now, you have tailwinds vs. headwinds: solid economic data and corporate earnings from the U.S. vs. esclating trade tensions around the world. If there's easing of the latter, then we can see a longer bull-market ride. Be in cyclicals. The
defensives including telecoms have done well the past few months, but now he suggests moving into cyclicals. About 75% of his holdings are in the U.S., especially consumer discretionary. He's also being cautious by taking profits faster, and hecurrently holds 12-15% cash which is higher than his 5% norm. He holds FANG stocks like Facebook and Google and some semiconductor manufacturers. He has sold his Canadian oil stocks as the price rose. He's not sure that oil can continue to push higher.

Now, you have tailwinds vs. headwinds: solid economic data and corporate earnings from the U.S. vs. esclating trade tensions around the world. If there's easing of the latter, then we can see a longer bull-market ride. Be in cyclicals. The
defensives including telecoms have done well the past few months, but now he suggests moving into cyclicals. About 75% of his holdings are in the U.S., especially consumer discretionary. He's also being cautious by taking profits faster, and hecurrently holds 12-15% cash which is higher than his 5% norm. He holds FANG stocks like Facebook and Google and some semiconductor manufacturers. He has sold his Canadian oil stocks as the price rose. He's not sure that oil can continue to push higher.

Unknown
Stan Wong

Director &, Private Wealth Manag...

Price Price
$0.020
Owned Owned
Unknown

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COMMENT
General Market Comment 

July 4, 2018

Canadian vs. U.S. stocks: Given the exchange rate, is it worth buying U.S. stocks? He gets this question a lot. He says it's not a loss necessary. The U.S. has performed better than Canada in the past decade. He still likes the U.S. and holds most of his equities there. Tax reform and fiscal stimulus are tailwinds. NAFTA will be tougher on Canada than America. The S&P has returned twice as much than the TSX over the past two years.

Canadian vs. U.S. stocks: Given the exchange rate, is it worth buying U.S. stocks? He gets this question a lot. He says it's not a loss necessary. The U.S. has performed better than Canada in the past decade. He still likes the U.S. and holds most of his equities there. Tax reform and fiscal stimulus are tailwinds. NAFTA will be tougher on Canada than America. The S&P has returned twice as much than the TSX over the past two years.

Unknown
Stan Wong

Director &, Private Wealth Manag...

Price Price
$0.020
Owned Owned
Unknown

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TOP PICK

It has 13x forward earnings with a 12% growth rate as global consumer spending rises. Digital currency is overtaking cash and cheques as a strong trend. Worldwide, people still use cash over plastic, but this will change--and AmEx will benefit. Last week, they announced a co-branded card with Amazon and $3.4-billion buyback program. He's held this for a long time. (Analysts' price target: $109.27)

investment companies/funds

It has 13x forward earnings with a 12% growth rate as global consumer spending rises. Digital currency is overtaking cash and cheques as a strong trend. Worldwide, people still use cash over plastic, but this will change--and AmEx will benefit. Last week, they announced a co-branded card with Amazon and $3.4-billion buyback program. He's held this for a long time. (Analysts' price target: $109.27)

investment companies/funds
Stan Wong

Director &, Private Wealth Manag...

Price Price
$97.840
Owned Owned
Yes

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BUY

He likes this long-term. It's like Amazon, mostly in e-commerce and the Cloud. Current negative sentiments about Chinese companies are only temporary. Compared to Tencent Holdings, Alibab is pretty close in terms of valuation and growth rates. He likes and owns both names. Alibaba has a huge runway, given the huge population of China.

He likes this long-term. It's like Amazon, mostly in e-commerce and the Cloud. Current negative sentiments about Chinese companies are only temporary. Compared to Tencent Holdings, Alibab is pretty close in terms of valuation and growth rates. He likes and owns both names. Alibaba has a huge runway, given the huge population of China.

0
Stan Wong

Director &, Private Wealth Manag...

Price Price
$184.750
Owned Owned
Yes

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HOLD
Bank of America(BAC-N) 

July 4, 2018

He likes U.S. banks, his largest weighting. But the yield is curve is flattening. He's holding tight to these stocks. Expect more share buybacks and dividend increases. It pays a 1.7% yield and this will rise. Be patient with this.

banks

He likes U.S. banks, his largest weighting. But the yield is curve is flattening. He's holding tight to these stocks. Expect more share buybacks and dividend increases. It pays a 1.7% yield and this will rise. Be patient with this.

banks
Stan Wong

Director &, Private Wealth Manag...

Price Price
$27.780
Owned Owned
Yes

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PAST TOP PICK
CitiGroup(C-N) 

July 4, 2018

(Past Top Pick, June 29, 2017, Up 0.4%) The U.S. financials have slipped since the January peak, but he'll continue to hold this. Trading at 0.9x price to book, one of the cheapest among its peers. Last week, they passed their stress test, and said they will raise their dividends. Also, they will continue to buy back shares. But if the tide changes with a U.S. slowdown, this will get hurt. But it's good for now.

insurance

(Past Top Pick, June 29, 2017, Up 0.4%) The U.S. financials have slipped since the January peak, but he'll continue to hold this. Trading at 0.9x price to book, one of the cheapest among its peers. Last week, they passed their stress test, and said they will raise their dividends. Also, they will continue to buy back shares. But if the tide changes with a U.S. slowdown, this will get hurt. But it's good for now.

insurance
Stan Wong

Director &, Private Wealth Manag...

Price Price
$66.060
Owned Owned
Yes

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COMMENT
Cineplex Inc(CGX-T) 

July 4, 2018

He holds this. They're diversifying into the Rec Room and golfing. The stock is basing now. The dividend is safe and generous at 5.8%. Maybe put a stop loss based on your risk tolerance, maybe using the old lows. Yes, it's been a slight disappointment, but there are better movies this year that'll help their box office.

other services

He holds this. They're diversifying into the Rec Room and golfing. The stock is basing now. The dividend is safe and generous at 5.8%. Maybe put a stop loss based on your risk tolerance, maybe using the old lows. Yes, it's been a slight disappointment, but there are better movies this year that'll help their box office.

other services
Stan Wong

Director &, Private Wealth Manag...

Price Price
$29.940
Owned Owned
Yes

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PAST TOP PICK

(Past Top Pick, June 29, 2017, Up 32%) He bought this when Amazon announced it would get into this space, so he bought it cheap. he recently sold it at a profit. It's a little expensive now. Buy on a dip. High valuation despite good same-store sales. If Costco improves their digital sales, they will compete well against Amazon.

department stores

(Past Top Pick, June 29, 2017, Up 32%) He bought this when Amazon announced it would get into this space, so he bought it cheap. he recently sold it at a profit. It's a little expensive now. Buy on a dip. High valuation despite good same-store sales. If Costco improves their digital sales, they will compete well against Amazon.

department stores
Stan Wong

Director &, Private Wealth Manag...

Price Price
$207.120
Owned Owned
No

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DON'T BUY
Cisco(CSCO-Q) 

July 4, 2018

It's held up well in the past year with a rising 200-day moving average. Not a high-grow company, maybe 6% a year. It doesn't excite him. Other such companies are growing faster.

electrical/electronic

It's held up well in the past year with a rising 200-day moving average. Not a high-grow company, maybe 6% a year. It doesn't excite him. Other such companies are growing faster.

electrical/electronic
Stan Wong

Director &, Private Wealth Manag...

Price Price
$42.670
Owned Owned
No

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COMMENT
Walt Disney(DIS-N) 

July 4, 2018

He likes this long-term. He took profits last fall. Their parks and studios are doing well, but ESPN is a worry with a lot of cord-cutting. That's why the stock has been stock the last few years. Disney is trying to acquire 21st Fox as a response. They had to do this, had to get into streaming. Can they execute well to go against Netflix?

entertainment services

He likes this long-term. He took profits last fall. Their parks and studios are doing well, but ESPN is a worry with a lot of cord-cutting. That's why the stock has been stock the last few years. Disney is trying to acquire 21st Fox as a response. They had to do this, had to get into streaming. Can they execute well to go against Netflix?

entertainment services
Stan Wong

Director &, Private Wealth Manag...

Price Price
$104.040
Owned Owned
Unknown

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COMMENT
Dollarama Inc.(DOL-T) 

July 4, 2018

It corrected in January, but is trading above its 200-day moving average. That said, its 50-day moving average is moving down, which is a concern. Its valuation is also high. Tariffs may hurt them, which could increase prices and limit revenues. He's neutral about this stock.

Consumer Products

It corrected in January, but is trading above its 200-day moving average. That said, its 50-day moving average is moving down, which is a concern. Its valuation is also high. Tariffs may hurt them, which could increase prices and limit revenues. He's neutral about this stock.

Consumer Products
Stan Wong

Director &, Private Wealth Manag...

Price Price
$50.470
Owned Owned
Unknown

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TOP PICK
iQIYI Inc. (IQ-Q) 

July 4, 2018

The Netflix of China. They just IPO'd. Subscribers have grown from 10 million in 2015 to 60 million today. They have a license to show some Netflix conent. They have a long runway for growth, but watch for volatility. Pays no dividend. (Analysts' price target: $35.60)

Technology

The Netflix of China. They just IPO'd. Subscribers have grown from 10 million in 2015 to 60 million today. They have a license to show some Netflix conent. They have a long runway for growth, but watch for volatility. Pays no dividend. (Analysts' price target: $35.60)

Technology
Stan Wong

Director &, Private Wealth Manag...

Price Price
$32.980
Owned Owned
Yes

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DON'T BUY

Long-term it looks tough for them, with serious competition from Walmart and Costco. Loblaw is trying to cut costs and enhance its digital operations. Same-store sales are sluggish, though Shoppers is doing better. More headwinds: generic drug pricing, minimum wage rises and the US exchange rate.

food stores

Long-term it looks tough for them, with serious competition from Walmart and Costco. Loblaw is trying to cut costs and enhance its digital operations. Same-store sales are sluggish, though Shoppers is doing better. More headwinds: generic drug pricing, minimum wage rises and the US exchange rate.

food stores
Stan Wong

Director &, Private Wealth Manag...

Price Price
$67.100
Owned Owned
No

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COMMENT

It's done well as it continues to trend higher. It's been a great name. News about them being banned from China worries investors, but in this space this is one of the best stocks. Put a stop loss on it. He likes this.

computer software/processing

It's done well as it continues to trend higher. It's been a great name. News about them being banned from China worries investors, but in this space this is one of the best stocks. Put a stop loss on it. He likes this.

computer software/processing
Stan Wong

Director &, Private Wealth Manag...

Price Price
$51.480
Owned Owned
Unknown

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HOLD

It pays a good dividend, but interest rates are risingand  that will hurt this. If you can withstand the volatility in this stock, you'll still receive that dividend. Consider a stop loss.

finance/leasing

It pays a good dividend, but interest rates are risingand  that will hurt this. If you can withstand the volatility in this stock, you'll still receive that dividend. Consider a stop loss.

finance/leasing
Stan Wong

Director &, Private Wealth Manag...

Price Price
$30.600
Owned Owned
Unknown

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