Stan Wong
Member since: Jun '09
Director & Portfolio Manager at
Private Wealth Management, ScotiaMcleod
Private Wealth Management, ScotiaMcleod
1960 Opinions
Latest Top Picks
(A Top Pick Sep 12/18, Up 46%) 7% earnings growth rate. You pay a premium, as we're in late cycle. 2% dividend, low beta. Dominance in US confectionery space. Starting to diversify. Still room to grow, especially as money is rotating to more defensive plays.
(A Top Pick Sep 12/18, Up 20%) Long-term secular growth. Growth of online shopping should continue to support it. Still lots of room to grow. Executed very well. Part of the recent choppiness, but still likes the name.
(A Top Pick Sep 12/18, Up 37%) Healthcare for animals. 33x earnings. Industry is a high-margin business. Consumer doesn't have much pricing power. Greater global need for healthier livestock. Reported 20 consecutive quarters of positive earnings.
Owns and operates wireless communications towers globally. Primarily in US, Brazil, and India. Good time to buy this week with the mini-selloff. Lots of runway for growth, as we need the cell phone data. Great long-term, secular growth rate. Yield is 1.73%. (Analysts’ price target is $220.80)
Products marketed to over 140 countries. Main drugs in diabetes and oncology. Robust pipeline of new drugs, which will drive revenues over the long term. Not too expensive, with an 11-12% growth rate. Yield is 2.65%. (Analysts’ price target is $96.69)
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Your ReactionSignal
Opinion
Expert
Chart
COMMENT
COMMENT
September 11, 2019
August bruising, calmer in September? Yes, tough in August. Now 1% away from hitting all-time highs on the S&P. Under the surface, rotation away from growth into value. Not sure if it will hold or not. He's in the camp of since interest rates are low, growth is the place to be over value.
August bruising, calmer in September? Yes, tough in August. Now 1% away from hitting all-time highs on the S&P. Under the surface, rotation away from growth into value. Not sure if it will hold or not. He's in the camp of since interest rates are low, growth is the place to be over value.
Stan Wong
Director & Portfolio Manager, Private Wealth Management, ScotiaMcleod
COMMENT
COMMENT
September 11, 2019
Central banks holding steady. Yes, and this bodes well for growth. Interest rates hit a bit of a bottom earlier this week, and the trade moved away from momentum. This is short-lived. Too soon to push the button on the value trade at this point.
Central banks holding steady. Yes, and this bodes well for growth. Interest rates hit a bit of a bottom earlier this week, and the trade moved away from momentum. This is short-lived. Too soon to push the button on the value trade at this point.
Stan Wong
Director & Portfolio Manager, Private Wealth Management, ScotiaMcleod
COMMENT
COMMENT
September 11, 2019
Trump calling on the Fed to lower rates. Consensus growth is not too far from the zero line. If US-China trade gets resolved soon, the economy will grind along. It'll push the economy from a 123-month expansion to even longer.
Trump calling on the Fed to lower rates. Consensus growth is not too far from the zero line. If US-China trade gets resolved soon, the economy will grind along. It'll push the economy from a 123-month expansion to even longer.
Stan Wong
Director & Portfolio Manager, Private Wealth Management, ScotiaMcleod
COMMENT
COMMENT
September 11, 2019
Asset allocation right now. Overweight US equities compared to Canada. US is a bigger sandbox to play in, and the economy is on a firmer footing. No exposure to Europe. Little exposure to Asia-Pacific, but now neutral on that, awaiting outcome of trade discussions. With passive investing, there is some risk if you're too exposed, as eventually you'll want to turn away from those growthier companies at the top.
Asset allocation right now. Overweight US equities compared to Canada. US is a bigger sandbox to play in, and the economy is on a firmer footing. No exposure to Europe. Little exposure to Asia-Pacific, but now neutral on that, awaiting outcome of trade discussions. With passive investing, there is some risk if you're too exposed, as eventually you'll want to turn away from those growthier companies at the top.
Stan Wong
Director & Portfolio Manager, Private Wealth Management, ScotiaMcleod
BUY
BUY
September 11, 2019
Great chart. Technicals are good. Higher highs and higher lows. Recession resilient. 23x earnings, low beta, 11% growth rate. Low volatility. Likes that they're mostly in rural locations. 75% of Americans live within 5 miles of a Dollar General.
Great chart. Technicals are good. Higher highs and higher lows. Recession resilient. 23x earnings, low beta, 11% growth rate. Low volatility. Likes that they're mostly in rural locations. 75% of Americans live within 5 miles of a Dollar General.
BUY
BUY
September 11, 2019
Likes it. Bit of a monopoly on the business. Near oligopoly. Chart looks strong. Revenue from concerts, ticketing, and sponsorship and advertising.
Likes it. Bit of a monopoly on the business. Near oligopoly. Chart looks strong. Revenue from concerts, ticketing, and sponsorship and advertising.
entertainment services
DON'T BUY
DON'T BUY
September 11, 2019
Limited energy in his portfolio, only Enbridge. Sector is trending downwards. Late cycle, when energy is not the best performer.
Limited energy in his portfolio, only Enbridge. Sector is trending downwards. Late cycle, when energy is not the best performer.
E.T.F.'s
COMMENT
COMMENT
September 11, 2019
Is energy having such a tough time because prices are driven internationally? Yes, but there are also pipeline issues in Canada. XLE in the US has started to move up a bit, but he doesn't think it's sustainable.
Is energy having such a tough time because prices are driven internationally? Yes, but there are also pipeline issues in Canada. XLE in the US has started to move up a bit, but he doesn't think it's sustainable.
Stan Wong
Director & Portfolio Manager, Private Wealth Management, ScotiaMcleod
BUY
BUY
September 11, 2019
Recession resilient. Trash is good business, especially when times are tough. We're in late cycle, with a slowdown down the road. Great chart. Higher highs and lows. 25x earnings, low beta, 9% growth. Largest out there right now, and continue to grow by acquisition. (Analysts’ price target is $123.00)
Recession resilient. Trash is good business, especially when times are tough. We're in late cycle, with a slowdown down the road. Great chart. Higher highs and lows. 25x earnings, low beta, 9% growth. Largest out there right now, and continue to grow by acquisition. (Analysts’ price target is $123.00)
environmental
DON'T BUY
DON'T BUY
September 11, 2019
Cyclical. 200-day moving average has been falling. Stock meandering sideways. Cheap at 8.8x, but it's cheap for a reason. Late cycle. Risk is its reliance on Detroit automakers.
Cyclical. 200-day moving average has been falling. Stock meandering sideways. Cheap at 8.8x, but it's cheap for a reason. Late cycle. Risk is its reliance on Detroit automakers.
Consumer Products
COMMENT
COMMENT
September 11, 2019
Seeking value without questioning the P/E. Important to also look at the macro-economic cycle. Recently, banks and US energy have started to move higher. But he asks where we are in the cycle. Those aren't your usual names to move higher at this point. You really want to look at sector and where we are in the cycle.
Seeking value without questioning the P/E. Important to also look at the macro-economic cycle. Recently, banks and US energy have started to move higher. But he asks where we are in the cycle. Those aren't your usual names to move higher at this point. You really want to look at sector and where we are in the cycle.
Stan Wong
Director & Portfolio Manager, Private Wealth Management, ScotiaMcleod
DON'T BUY
DON'T BUY
September 11, 2019
Lots of rhetoric around pharma around election time, but not a lot gets changed. An equal weight ETF. Hasn't done well. Prefers Vanguard's VHT in the US, cheaper and a market weighted strategy with Pfizer, Merck, and Abbott Labs.
Lots of rhetoric around pharma around election time, but not a lot gets changed. An equal weight ETF. Hasn't done well. Prefers Vanguard's VHT in the US, cheaper and a market weighted strategy with Pfizer, Merck, and Abbott Labs.
E.T.F.'s
COMMENT
COMMENT
September 11, 2019
Bit of rotation from banks to insurers. High dividend, exposure to Asia-Pacific. Long-term demographics make sense. Low interest rates are a headwind.
Bit of rotation from banks to insurers. High dividend, exposure to Asia-Pacific. Long-term demographics make sense. Low interest rates are a headwind.
insurance
PAST TOP PICK
PAST TOP PICK
September 11, 2019
(A Top Pick Sep 12/18, Up 46%) 7% earnings growth rate. You pay a premium, as we're in late cycle. 2% dividend, low beta. Dominance in US confectionery space. Starting to diversify. Still room to grow, especially as money is rotating to more defensive plays.
(A Top Pick Sep 12/18, Up 46%) 7% earnings growth rate. You pay a premium, as we're in late cycle. 2% dividend, low beta. Dominance in US confectionery space. Starting to diversify. Still room to grow, especially as money is rotating to more defensive plays.
food processing
PAST TOP PICK
PAST TOP PICK
September 11, 2019
(A Top Pick Sep 12/18, Up 20%) Long-term secular growth. Growth of online shopping should continue to support it. Still lots of room to grow. Executed very well. Part of the recent choppiness, but still likes the name.
(A Top Pick Sep 12/18, Up 20%) Long-term secular growth. Growth of online shopping should continue to support it. Still lots of room to grow. Executed very well. Part of the recent choppiness, but still likes the name.
other services
PAST TOP PICK
PAST TOP PICK
September 11, 2019
(A Top Pick Sep 12/18, Up 37%) Healthcare for animals. 33x earnings. Industry is a high-margin business. Consumer doesn't have much pricing power. Greater global need for healthier livestock. Reported 20 consecutive quarters of positive earnings.
(A Top Pick Sep 12/18, Up 37%) Healthcare for animals. 33x earnings. Industry is a high-margin business. Consumer doesn't have much pricing power. Greater global need for healthier livestock. Reported 20 consecutive quarters of positive earnings.
Consumer Products
BUY
BUY
September 11, 2019
Cable
BUY WEAKNESS
BUY WEAKNESS
September 11, 2019
Likes it at these levels. 11% earnings growth rate, dividend of 2.7%, beta just less than the market. Better relationships with Tim's franchisees. When these dips come along, it's good to buy. The recent 3G selloff doesn't concern him. Very competitive space, will continue to acquire smaller companies.
Likes it at these levels. 11% earnings growth rate, dividend of 2.7%, beta just less than the market. Better relationships with Tim's franchisees. When these dips come along, it's good to buy. The recent 3G selloff doesn't concern him. Very competitive space, will continue to acquire smaller companies.
food services
WAIT
WAIT
September 11, 2019
About a 6.2% dividend. When things are moving higher, you want to own the underlying equities or ETF. And utilities are breaking new highs.
About a 6.2% dividend. When things are moving higher, you want to own the underlying equities or ETF. And utilities are breaking new highs.
E.T.F.'s
HOLD
HOLD
September 11, 2019
Long runway for growth. Much greater market in China. Has been held back by trade relations. Will be up and down for a while. Growth story will continue after Jack Ma retires.
Long runway for growth. Much greater market in China. Has been held back by trade relations. Will be up and down for a while. Growth story will continue after Jack Ma retires.
DON'T BUY
DON'T BUY
September 11, 2019
Has some concerns. Stock's been sideways the past year. Much of its revenues come from the iPhone, and they're trying to expand beyond this. People won't pay $1000+ for the next iteration of the phone. Lots of cash flow and cash on the books. Would look elsewhere for growth. Doesn't see how its streaming will fit in with the landscape.
Has some concerns. Stock's been sideways the past year. Much of its revenues come from the iPhone, and they're trying to expand beyond this. People won't pay $1000+ for the next iteration of the phone. Lots of cash flow and cash on the books. Would look elsewhere for growth. Doesn't see how its streaming will fit in with the landscape.
electrical/electronic
DON'T BUY
DON'T BUY
September 11, 2019
US banks have popped in last few days. He's underweight US banks. Still reeling from accounting scandal. Technicals are weak. Barely above the 200-day moving average. Flattening yield curve affecting it negatively. Net interest margins are weak. Value play, dividend is nice. Growth and total return weak.
US banks have popped in last few days. He's underweight US banks. Still reeling from accounting scandal. Technicals are weak. Barely above the 200-day moving average. Flattening yield curve affecting it negatively. Net interest margins are weak. Value play, dividend is nice. Growth and total return weak.
investment companies/funds
COMMENT
COMMENT
September 11, 2019
Canadian ETF that holds only big US tech companies? No, not one in Canadian dollars. There are NASDAQ 100 ETFs that hold tech as well as consumer services and biotech. BMO has ZNQ and ZQQ. Horizons has HXQ. And iShares has XQQ.
Canadian ETF that holds only big US tech companies? No, not one in Canadian dollars. There are NASDAQ 100 ETFs that hold tech as well as consumer services and biotech. BMO has ZNQ and ZQQ. Horizons has HXQ. And iShares has XQQ.
Stan Wong
Director & Portfolio Manager, Private Wealth Management, ScotiaMcleod
COMMENT
COMMENT
September 11, 2019
To hedge or not to hedge? For the last several years, you wouldn't have wanted to hedge against the US dollar. He still likes the US dollar over the CAD, and how firm the US economy looks at this stage. He still wants to hold in US dollars and have that exposure right now.
To hedge or not to hedge? For the last several years, you wouldn't have wanted to hedge against the US dollar. He still likes the US dollar over the CAD, and how firm the US economy looks at this stage. He still wants to hold in US dollars and have that exposure right now.
Stan Wong
Director & Portfolio Manager, Private Wealth Management, ScotiaMcleod
DON'T BUY
DON'T BUY
September 11, 2019
High beta. He's traded it before. Sideways move during last year, and so is the 200-day moving average. Prefers the larger names in this space like Visa, Mastercard. Square focuses on the small merchants, who are more sensitive to the macro economic environment, especially at this stage of the cycle.
High beta. He's traded it before. Sideways move during last year, and so is the 200-day moving average. Prefers the larger names in this space like Visa, Mastercard. Square focuses on the small merchants, who are more sensitive to the macro economic environment, especially at this stage of the cycle.
BUY WEAKNESS
BUY WEAKNESS
September 11, 2019
Right above the 100-day moving average. Part of the selloff into value. When you see these dips, it's a great time to buy. 17% growth rate. A tollbooth type of company.
Right above the 100-day moving average. Part of the selloff into value. When you see these dips, it's a great time to buy. 17% growth rate. A tollbooth type of company.
other services
BUY
BUY
September 11, 2019
Likes the name. Very competitive space. Extremely strong technicals. Low beta. Somewhat recession resilient. 2.2% dividend. Good name to own.
Likes the name. Very competitive space. Extremely strong technicals. Low beta. Somewhat recession resilient. 2.2% dividend. Good name to own.
food services
COMMENT
COMMENT
September 11, 2019
Loves it, but prefers the dollar stores. Somewhat recession resilient, though not as much as dollar stores or Walmart. Has done extremely well. Valuation is 35x earnings for 10% growth rate. Concerned about valuation and where we are in the cycle.
Loves it, but prefers the dollar stores. Somewhat recession resilient, though not as much as dollar stores or Walmart. Has done extremely well. Valuation is 35x earnings for 10% growth rate. Concerned about valuation and where we are in the cycle.
department stores
TOP PICK
TOP PICK
September 11, 2019
Owns and operates wireless communications towers globally. Primarily in US, Brazil, and India. Good time to buy this week with the mini-selloff. Lots of runway for growth, as we need the cell phone data. Great long-term, secular growth rate. Yield is 1.73%. (Analysts’ price target is $220.80)
Owns and operates wireless communications towers globally. Primarily in US, Brazil, and India. Good time to buy this week with the mini-selloff. Lots of runway for growth, as we need the cell phone data. Great long-term, secular growth rate. Yield is 1.73%. (Analysts’ price target is $220.80)
Telecommunications
TOP PICK
TOP PICK
September 11, 2019
Products marketed to over 140 countries. Main drugs in diabetes and oncology. Robust pipeline of new drugs, which will drive revenues over the long term. Not too expensive, with an 11-12% growth rate. Yield is 2.65%. (Analysts’ price target is $96.69)
Products marketed to over 140 countries. Main drugs in diabetes and oncology. Robust pipeline of new drugs, which will drive revenues over the long term. Not too expensive, with an 11-12% growth rate. Yield is 2.65%. (Analysts’ price target is $96.69)
biotechnology/pharmaceutical
Comments
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