Stock Opinions by John DeGoey - Stockchase Experts
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John DeGoey

On Stockchase since : Oct 2009

Portfolio Manager at Industrial Alliance Securities

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Stock Opinions by John DeGoey - Stockchase Experts

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COMMENT
General Market Comment 

April 8, 2019

People were hasty in calling a recesssion within the year. Only part of the curve was inverted recently. We're in a slow-growth economy, an interesting time with no meaningful inflation despite lots of stimulus the past decade. We just have to keep rates low to keep the economy going--he isn't worried. Bonds are now paying 2% like inflation, so that means zero returns. To build wealth, you have to buy stocks. So much exposure in equity can you tolerate? Your risk level? Dividend players are not bond proxies to him, though. He believes in total return whether it's in a growth or defensive stock. Canada: He tries not to get too worried in a macro sense about trade (talks), though he's mindful of it.
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People were hasty in calling a recesssion within the year. Only part of the curve was inverted recently. We're in a slow-growth economy, an interesting time with no meaningful inflation despite lots of stimulus the past decade. We just have to keep rates low to keep the economy going--he isn't worried. Bonds are now paying 2% like inflation, so that means zero returns. To build wealth, you have to buy stocks. So much exposure in equity can you tolerate? Your risk level? Dividend players are not bond proxies to him, though. He believes in total return whether it's in a growth or defensive stock. Canada: He tries not to get too worried in a macro sense about trade (talks), though he's mindful of it.
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$0.000
Owned Owned
Unknown

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DON'T BUY
CASH(CASH) 

April 8, 2019

He doesn't use cash except to rebalance briefly. He's fully invested in his portfolios. Cash pays nothing. You get poor slowly holding lots of cash.
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He doesn't use cash except to rebalance briefly. He's fully invested in his portfolios. Cash pays nothing. You get poor slowly holding lots of cash.
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$0.000
Owned Owned
No

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BUY
Is it smart to buy two diversified ETFs then take a single position out? No, he doesn't recommend nor use single stock positions. If you want one single ETF, look at XWD. It spans the world (large-cap, blue-chip and diverse) and it has gotten off to a great start this year. He prefers ETFs that are cheaper than most, but not the cheapest, because he prefers ETFs that are factor-based which will cost 35 basis points. The 35 basis points are worth it than a no-frills, super-low MER ETF.
E.T.F.'s
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Is it smart to buy two diversified ETFs then take a single position out? No, he doesn't recommend nor use single stock positions. If you want one single ETF, look at XWD. It spans the world (large-cap, blue-chip and diverse) and it has gotten off to a great start this year. He prefers ETFs that are cheaper than most, but not the cheapest, because he prefers ETFs that are factor-based which will cost 35 basis points. The 35 basis points are worth it than a no-frills, super-low MER ETF.
E.T.F.'s
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$52.230
Owned Owned
Unknown

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WEAK BUY
A fine ETF. It's for you if you're long term in tech, but he doesn't use NASDAQ much in his practice. If you want to trade the Nasdaq, this is a good instrument. Also, he doesn't use hedges.
E.T.F.'s
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A fine ETF. It's for you if you're long term in tech, but he doesn't use NASDAQ much in his practice. If you want to trade the Nasdaq, this is a good instrument. Also, he doesn't use hedges.
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$56.735
Owned Owned
Unknown

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BUY
A dividend-paying ETF with a low MER It charges only around 35 basis points and is low-beta. Low-ish returns are offset by a good 4% dividend.
E.T.F.'s
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A dividend-paying ETF with a low MER It charges only around 35 basis points and is low-beta. Low-ish returns are offset by a good 4% dividend.
E.T.F.'s
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$33.820
Owned Owned
Unknown

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BUY
It came along after XIU, is cheaper and gives much broader exposure of TSX--large, mid and even small caps. He prefers this to the XIU. Includes TD and Enbridge.
E.T.F.'s
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It came along after XIU, is cheaper and gives much broader exposure of TSX--large, mid and even small caps. He prefers this to the XIU. Includes TD and Enbridge.
E.T.F.'s
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$26.010
Owned Owned
Unknown

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COMMENT
General Market Comment 

April 8, 2019

Is doubling up a way to avoid capital gains tax? He's unsure about the question, but most people use capital losses to offset gains. Or you don't sell the stocks (which will defer the tax). Or flow-through limited partnerships are another method, but they are riskier and not for everyone. A lot of junior minors and oils use this instrument.
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Is doubling up a way to avoid capital gains tax? He's unsure about the question, but most people use capital losses to offset gains. Or you don't sell the stocks (which will defer the tax). Or flow-through limited partnerships are another method, but they are riskier and not for everyone. A lot of junior minors and oils use this instrument.
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$0.000
Owned Owned
Unknown

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COMMENT
General Market Comment 

April 8, 2019

Is there a geographic allocation recommended for ETFs or just buy a single ETF? His portfolios hold 8 or 12 products, mostly ETFs. That's all you really need. You can build a totally diversified portfolio for a small account ($250K). 25 stocks doesn't match 8 ETFs in diversity and it takes on much more risk. Instead of stocks, spend the extra 25-30 basis points to get ETF that give you global exposure and reduce risk. Also, use ETFs to gain exposure around the world and reduce Canadian bias.
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Is there a geographic allocation recommended for ETFs or just buy a single ETF? His portfolios hold 8 or 12 products, mostly ETFs. That's all you really need. You can build a totally diversified portfolio for a small account ($250K). 25 stocks doesn't match 8 ETFs in diversity and it takes on much more risk. Instead of stocks, spend the extra 25-30 basis points to get ETF that give you global exposure and reduce risk. Also, use ETFs to gain exposure around the world and reduce Canadian bias.
Unknown
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$0.000
Owned Owned
Unknown

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COMMENT
General Market Comment 

April 8, 2019

What type of investments to set up for a new baby? Set up an RESP and put in $2,500 each year. The government pays a grant on top of that. The baby will need a SIN. Use one product like the XWD ETF to get diversification (or use separate ETFs to achieve that global spread). At age 10, invest some new money into income stocks. When the child reaches 14, add bonds which are safer investments. In a few years they will use that RESP money.
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What type of investments to set up for a new baby? Set up an RESP and put in $2,500 each year. The government pays a grant on top of that. The baby will need a SIN. Use one product like the XWD ETF to get diversification (or use separate ETFs to achieve that global spread). At age 10, invest some new money into income stocks. When the child reaches 14, add bonds which are safer investments. In a few years they will use that RESP money.
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$0.000
Owned Owned
Unknown

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COMMENT
General Market Comment 

April 8, 2019

What's the best way to withdraw money out of a USD RRSP when I retire in a few years? Transfer to a CAD RRSP account and pay the FX charge then or a non-RRSP USD account? You pay tax on the withdrawal, so do you pay that FX charge in stages or all at once? Do you need all that money at once? If not, keep that RRSP USD account open and withdraw some USD. If you will spend all your time in Canada, then you didn't need an RRSP USD account in the first place. However, if that's the case, then move it all into the CAD RRSP account to keep it simple and minimize trustee fees.
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What's the best way to withdraw money out of a USD RRSP when I retire in a few years? Transfer to a CAD RRSP account and pay the FX charge then or a non-RRSP USD account? You pay tax on the withdrawal, so do you pay that FX charge in stages or all at once? Do you need all that money at once? If not, keep that RRSP USD account open and withdraw some USD. If you will spend all your time in Canada, then you didn't need an RRSP USD account in the first place. However, if that's the case, then move it all into the CAD RRSP account to keep it simple and minimize trustee fees.
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$0.000
Owned Owned
Unknown

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DON'T BUY
It might be fine, but it looks like a gimmicky product. This makes a big deal of being Quebec, but this isn't a thesis for investing. This is pandering to a demographic that feels this is good. Quebec is no better or worse than any other part of Canada. He's not being anti-Quebec when he says this. He needs more of a reason to invest in this.
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It might be fine, but it looks like a gimmicky product. This makes a big deal of being Quebec, but this isn't a thesis for investing. This is pandering to a demographic that feels this is good. Quebec is no better or worse than any other part of Canada. He's not being anti-Quebec when he says this. He needs more of a reason to invest in this.
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$21.100
Owned Owned
No

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BUY
A simple single-ticket solution instead of buying a basket of ETFs. It's cheap and diversified. This may be too simple and not for everyone. It's good for people who find investing unsavoury.
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A simple single-ticket solution instead of buying a basket of ETFs. It's cheap and diversified. This may be too simple and not for everyone. It's good for people who find investing unsavoury.
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$22.730
Owned Owned
Unknown

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COMMENT
General Market Comment 

April 8, 2019

Aren't 8-10 ETFs in a portfolio over-diversifying? He keeps no more than 12 in a larger, million-dollar portfolio: Canada US, emerging markets and Europe. He may add say an ESG ETF or a behavioural one (a top pick tonight). No, 8-10 builds a robust portfolio and isn't over-diversifying. Just don't double-up on ETFs.
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Aren't 8-10 ETFs in a portfolio over-diversifying? He keeps no more than 12 in a larger, million-dollar portfolio: Canada US, emerging markets and Europe. He may add say an ESG ETF or a behavioural one (a top pick tonight). No, 8-10 builds a robust portfolio and isn't over-diversifying. Just don't double-up on ETFs.
Unknown
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$0.000
Owned Owned
Unknown

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DON'T BUY
Oil or tech ETF that charges a low MER? If you think oil is coming back, maybe buy it now. But he's not excited or confident that oil will come back and he feels cold towards the energy sector. The best ETF in a poor sector won't do you well. It also charges 62 basis points which is a little high.
E.T.F.'s
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Oil or tech ETF that charges a low MER? If you think oil is coming back, maybe buy it now. But he's not excited or confident that oil will come back and he feels cold towards the energy sector. The best ETF in a poor sector won't do you well. It also charges 62 basis points which is a little high.
E.T.F.'s
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$10.280
Owned Owned
Unknown

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COMMENT
General Market Comment 

April 8, 2019

Keep bonds in a portfolio? What's the best asset allocation? 70/30 stocks/bonds is the new 60/40 because bonds are yielding 2%, but inflation is 2%. You need to invest more in stocks, especially as you approach retirement (and people are living longer, to 80-90). You need stocks, though keep some bonds in there. If you're more aggressive then allocate 80/20. Have more money when you retire than you expect.
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Keep bonds in a portfolio? What's the best asset allocation? 70/30 stocks/bonds is the new 60/40 because bonds are yielding 2%, but inflation is 2%. You need to invest more in stocks, especially as you approach retirement (and people are living longer, to 80-90). You need stocks, though keep some bonds in there. If you're more aggressive then allocate 80/20. Have more money when you retire than you expect.
Unknown
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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$0.000
Owned Owned
Unknown

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