Opinions by John DeGoey | StockChase
1009
John DeGoey

Portfolio Manager

ON STOCKCHASE SINCE Oct 2009

Industrial Alliance Securities

1009
John DeGoey

Portfolio Manager

ON STOCKCHASE SINCE Oct 2009

Industrial Alliance Securities


Opinions by John DeGoey


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General Market Comment 

June 8, 2017

Market. Because of our high debt levels, etc., global economic growth is going be stalling. GDP growth in the West is running at about 2%, and a number of years ago it was double that. We have to get used to a new speed limit. Economic growth will be lower, and as a result, capital markets will go up by a less robust amount going forward. When you deal with the situation where markets are lower and people are living longer, that means that instead of retiring at 63 we are hovering around 64 or 65, and he would not be at all surprised that 8-10 years from now, the average retirement age in Canada would be over 66.

Market. Because of our high debt levels, etc., global economic growth is going be stalling. GDP growth in the West is running at about 2%, and a number of years ago it was double that. We have to get used to a new speed limit. Economic growth will be lower, and as a result, capital markets will go up by a less robust amount going forward. When you deal with the situation where markets are lower and people are living longer, that means that instead of retiring at 63 we are hovering around 64 or 65, and he would not be at all surprised that 8-10 years from now, the average retirement age in Canada would be over 66.

Unknown
John DeGoey

Portfolio Manager, Industrial Alliance ...

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$0.020
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General Market Comment 

June 8, 2017

Breakeven age for taking CPP at 60, or delaying until 70? If you are going to be living to age 70 or so, he would take the CPP at 60. If you are going to be living from 70 to 80, he would take it at 65. If you’re going to make it beyond age 80, he would wait until age 70 before taking it. Note, you get 100% of your benefit if you retire on the month your 65th birthday. Every month before, you lose 0.6%, i.e. 7.2% per year.

Breakeven age for taking CPP at 60, or delaying until 70? If you are going to be living to age 70 or so, he would take the CPP at 60. If you are going to be living from 70 to 80, he would take it at 65. If you’re going to make it beyond age 80, he would wait until age 70 before taking it. Note, you get 100% of your benefit if you retire on the month your 65th birthday. Every month before, you lose 0.6%, i.e. 7.2% per year.

Unknown
John DeGoey

Portfolio Manager, Industrial Alliance ...

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$0.020
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COMMENT
General Market Comment 

June 8, 2017

In a portfolio between bonds, Index ETF’s and dividends, which should go into TFSA, RRSP and non-registered accounts? It would be better to put your bonds in your taxable account and avoid the 50% capital gain on something that actually goes up by putting your stocks into your RRSP and TFSA.

In a portfolio between bonds, Index ETF’s and dividends, which should go into TFSA, RRSP and non-registered accounts? It would be better to put your bonds in your taxable account and avoid the 50% capital gain on something that actually goes up by putting your stocks into your RRSP and TFSA.

Unknown
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$0.020
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Unknown

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COMMENT

This is investing in continental Europe, and on a minimum volatility basis. The product has done reasonably well in the recent past. Continental Europe is a good diversifier. If you want to have equity exposure and you want to get out of Canada, and are a relatively nervous investor, this is probably a good way to do it.

E.T.F.'s

This is investing in continental Europe, and on a minimum volatility basis. The product has done reasonably well in the recent past. Continental Europe is a good diversifier. If you want to have equity exposure and you want to get out of Canada, and are a relatively nervous investor, this is probably a good way to do it.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$71.180
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Unknown

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TOP PICK

This dropped a great deal, and may have hit bottom. The long-term for the industry is still very positive. This only has 15-17 names in it, and 3 of them make up 10% each. A diversified way to get exposure to an asset class, which everyone is talking about. Rather than betting the farm on one company or another, buy the ETF rather than trying to decide which company is going to be the winner or loser.

E.T.F.'s

This dropped a great deal, and may have hit bottom. The long-term for the industry is still very positive. This only has 15-17 names in it, and 3 of them make up 10% each. A diversified way to get exposure to an asset class, which everyone is talking about. Rather than betting the farm on one company or another, buy the ETF rather than trying to decide which company is going to be the winner or loser.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$8.490
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Yes

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PAST TOP PICK

(A Top Pick May 2/16. Up 17%.) Has used this as an income surrogate where some people do not want to sell their principal and just want dividend income. This is ultimately Canadian equities and are going to need to have some volatility. Has significantly lightened his position in this.

E.T.F.'s

(A Top Pick May 2/16. Up 17%.) Has used this as an income surrogate where some people do not want to sell their principal and just want dividend income. This is ultimately Canadian equities and are going to need to have some volatility. Has significantly lightened his position in this.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$32.780
Owned Owned
Yes

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PAST TOP PICK

(A Top Pick May 2/16. Up 30.06%.) The product that he talks about more than anything else. The single most recommended ETF in his practice. It gives broad exposure to emerging markets. If you want growth, you have to go where the world is growing, which is emerging markets.

E.T.F.'s

(A Top Pick May 2/16. Up 30.06%.) The product that he talks about more than anything else. The single most recommended ETF in his practice. It gives broad exposure to emerging markets. If you want growth, you have to go where the world is growing, which is emerging markets.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$33.490
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Yes

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TOP PICK

The one thing he always tells people they should be looking at, because emerging markets are such an important part of where investors, who want some kind of growth, need to be.

E.T.F.'s

The one thing he always tells people they should be looking at, because emerging markets are such an important part of where investors, who want some kind of growth, need to be.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$33.490
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Yes

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DON'T BUY

Doesn’t think this is worth buying, as he doesn’t expect the price of oil is going to change much from its $50 range. Whenever the price gets high, the Americans turn on the taps and the price goes back down again.

E.T.F.'s

Doesn’t think this is worth buying, as he doesn’t expect the price of oil is going to change much from its $50 range. Whenever the price gets high, the Americans turn on the taps and the price goes back down again.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$11.460
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Unknown

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COMMENT

He is a huge proponent of factor investing. It is a really good way of getting exposure to a broad market. You tilt towards those factors that historically have gotten better risk adjusted returns. Small companies outperform large ones, value companies outperform growth companies. When you tilt towards those things, you tend to get a return that is slightly more variable than the market, but a return that is moderately higher than the market.

E.T.F.'s

He is a huge proponent of factor investing. It is a really good way of getting exposure to a broad market. You tilt towards those factors that historically have gotten better risk adjusted returns. Small companies outperform large ones, value companies outperform growth companies. When you tilt towards those things, you tend to get a return that is slightly more variable than the market, but a return that is moderately higher than the market.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$24.070
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Unknown

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TOP PICK

People need to have weakly and negatively correlated assets, and gold has come back a little this year. Doesn’t feel we are in a situation where gold is likely to pull back anymore. If there is any kind of real or perceived insurrection, this would probably have a positive pop tomorrow. He is recommending 3%-5% for most people, just as a portfolio diversifier.

E.T.F.'s

People need to have weakly and negatively correlated assets, and gold has come back a little this year. Doesn’t feel we are in a situation where gold is likely to pull back anymore. If there is any kind of real or perceived insurrection, this would probably have a positive pop tomorrow. He is recommending 3%-5% for most people, just as a portfolio diversifier.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$13.400
Owned Owned
Yes

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PAST TOP PICK

(A Top Pick May 2/16. Up 38%.) A great way to get access to the growing middle class in India.

E.T.F.'s

(A Top Pick May 2/16. Up 38%.) A great way to get access to the growing middle class in India.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$35.550
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Yes

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COMMENT

Some conservative ideas for the next recession ahead for a senior? He would suggest this one, a BMO emerging-market bond ETF. Growth is really anemic in the West and bond yields in the US and Canada are 2% over 20-30 years, but bond yields in other parts of the world are 5%-6%. You’re taking on the little more volatility, but getting a lot more yield.

E.T.F.'s

Some conservative ideas for the next recession ahead for a senior? He would suggest this one, a BMO emerging-market bond ETF. Growth is really anemic in the West and bond yields in the US and Canada are 2% over 20-30 years, but bond yields in other parts of the world are 5%-6%. You’re taking on the little more volatility, but getting a lot more yield.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$17.050
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Unknown

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BUY

He likes this and does use it a bit, but uses XID more. Both are quite similar. It’s a good, diversified low cost way of getting access to India. A good product and is one that he would absolutely hold for the long-term.

E.T.F.'s

He likes this and does use it a bit, but uses XID more. Both are quite similar. It’s a good, diversified low cost way of getting access to India. A good product and is one that he would absolutely hold for the long-term.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$22.800
Owned Owned
Unknown

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COMMENT

The great thing about covered calls is that they offer you some upside when things are going down, but also take some of the downside away when things are going up. The “covered call” methodology regulates so that the highs are less high and the lows are less low.

E.T.F.'s

The great thing about covered calls is that they offer you some upside when things are going down, but also take some of the downside away when things are going up. The “covered call” methodology regulates so that the highs are less high and the lows are less low.

E.T.F.'s
John DeGoey

Portfolio Manager, Industrial Alliance ...

PricePrice
$18.020
Owned Owned
Unknown

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