Stock Opinions by Terry Shaunessy - Stockchase Experts
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Terry Shaunessy @

On Stockchase since : May 2010

President & portfolio manager

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Stock Opinions by Terry Shaunessy - Stockchase Experts


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COMMENT
General Market Comment 

September 21, 2018

New US highs reached this week. First time since 2011, he’s been taking money off the table in the US specifically and getting a bit cautious. Has been underweight Canada for a while. Now neutral on the US, and starting to underweight the US. Three things concern him about the S&P 500. 1) The advance is narrow. FANGs have created the bulk of the rise. 2) Earnings in the first quarter were a one-time shot because of tax cuts. Earnings are the fuel for equities. 3) US interest rate being high, and the S&P 500 doing well, and the US dollar going up, all investments flows have been going to the US either bonds, stocks or currency. He thinks we are coming to the end of that road.

New US highs reached this week. First time since 2011, he’s been taking money off the table in the US specifically and getting a bit cautious. Has been underweight Canada for a while. Now neutral on the US, and starting to underweight the US. Three things concern him about the S&P 500. 1) The advance is narrow. FANGs have created the bulk of the rise. 2) Earnings in the first quarter were a one-time shot because of tax cuts. Earnings are the fuel for equities. 3) US interest rate being high, and the S&P 500 doing well, and the US dollar going up, all investments flows have been going to the US either bonds, stocks or currency. He thinks we are coming to the end of that road.

Unknown
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$0.020
Owned Owned
Unknown

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COMMENT
General Market Comment 

September 21, 2018

Where’s the opportunity? We’re back in the international markets because of process of elimination. We’ve seen terrible underperformance from international markets relative to the US, so now it’s cheap. Unlike the US, that market it’s not tech oriented but more value oriented and thinks downside risk is less. As we take money off the table, he’s keeping it in cash.

Where’s the opportunity? We’re back in the international markets because of process of elimination. We’ve seen terrible underperformance from international markets relative to the US, so now it’s cheap. Unlike the US, that market it’s not tech oriented but more value oriented and thinks downside risk is less. As we take money off the table, he’s keeping it in cash.

Unknown
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$0.020
Owned Owned
Unknown

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COMMENT
General Market Comment 

September 21, 2018

What would it take to be interested in Canada again? Thinks the resolution on the pipeline issue is key. The broad TSX index is probably not going to move much it’s 40% financial and although he is not worried about the Canadian banks they’re not going to go up a lot. So it rests on energy and materials. Energy stocks are not responding to the lift of price because we can’t move the product so what’s the point of finding more oil.

What would it take to be interested in Canada again? Thinks the resolution on the pipeline issue is key. The broad TSX index is probably not going to move much it’s 40% financial and although he is not worried about the Canadian banks they’re not going to go up a lot. So it rests on energy and materials. Energy stocks are not responding to the lift of price because we can’t move the product so what’s the point of finding more oil.

Unknown
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$0.020
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Unknown

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COMMENT
General Market Comment 

September 21, 2018

Where do you stand on marijuana? If you’re playing in marijuana, you’re not investing. Remember crypto and bitcoin at year end and big swings day to day. As long as you understand that you’re gambling now and not investing it’s up to you.

Where do you stand on marijuana? If you’re playing in marijuana, you’re not investing. Remember crypto and bitcoin at year end and big swings day to day. As long as you understand that you’re gambling now and not investing it’s up to you.

Unknown
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$0.020
Owned Owned
Unknown

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DON'T BUY

The internet of things is great, and in the future it will probably be used more often. This ETF is pretty narrow only a total $100M US which by US standards is tiny. 0.68% MER a little bit on the high side. Interesting, but doesn’t think it’s a good investment. If you have a background in this, and you know the names, you might want to look at it. If an ETF is dominated by one or two players why pay someone to buy a stock that you can buy on your own.

Technology

The internet of things is great, and in the future it will probably be used more often. This ETF is pretty narrow only a total $100M US which by US standards is tiny. 0.68% MER a little bit on the high side. Interesting, but doesn’t think it’s a good investment. If you have a background in this, and you know the names, you might want to look at it. If an ETF is dominated by one or two players why pay someone to buy a stock that you can buy on your own.

Technology
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$20.793
Owned Owned
No

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COMMENT
SPDR S&P Bank(KBE-N) 

September 21, 2018

KBE vs. KRE? Both US listed. KBE is basically the S&P US bank index. KRE is regional banks. Difference is regional banks are consumer oriented, like Canadian banks. They are not “big enough to fail.” They haven’t performed. US banks will probably perform, because they’re cheap. Either one would be fine, but the regional one is slightly less risky, KRE would probably be the better of the two.

E.T.F.'s

KBE vs. KRE? Both US listed. KBE is basically the S&P US bank index. KRE is regional banks. Difference is regional banks are consumer oriented, like Canadian banks. They are not “big enough to fail.” They haven’t performed. US banks will probably perform, because they’re cheap. Either one would be fine, but the regional one is slightly less risky, KRE would probably be the better of the two.

E.T.F.'s
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$48.850
Owned Owned
Unknown

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BUY

KBE vs. KRE? Both US listed. KBE is basically the S&P US bank index. KRE is regional banks. Difference is regional banks are consumer oriented, like Canadian banks. They are not “big enough to fail.” They haven’t performed. US banks will probably perform, because they’re cheap. Either one would be fine, but the regional one is slightly less risky, KRE would probably be the better of the two.

E.T.F.'s

KBE vs. KRE? Both US listed. KBE is basically the S&P US bank index. KRE is regional banks. Difference is regional banks are consumer oriented, like Canadian banks. They are not “big enough to fail.” They haven’t performed. US banks will probably perform, because they’re cheap. Either one would be fine, but the regional one is slightly less risky, KRE would probably be the better of the two.

E.T.F.'s
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$62.270
Owned Owned
Unknown

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BUY
iShares S&P/TSX 60 ETF(XIU-T) 

September 21, 2018

A core holding in a young person’s portfolio? One of the grandaddy ETFs. Big cap stocks in Canada. Pretty good dividend, extremely liquid. Of his Canadian portfolio allocation, his primary holding is XIU. More convenient to buy one stock than it is to turn around to the market and buy the top 15-20 stocks. Cheap, effective, you might as well use it. 0.18% MER.

investment companies/funds

A core holding in a young person’s portfolio? One of the grandaddy ETFs. Big cap stocks in Canada. Pretty good dividend, extremely liquid. Of his Canadian portfolio allocation, his primary holding is XIU. More convenient to buy one stock than it is to turn around to the market and buy the top 15-20 stocks. Cheap, effective, you might as well use it. 0.18% MER.

investment companies/funds
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$24.150
Owned Owned
Yes

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DON'T BUY

Socially responsible index. When you break it down, it looks pretty much like the TSX composite. Most major corporations have become socially responsible because they’ve had to. 0.55% MER more expensive than XIU. He suggests to instead buy the XIU or similar, and make a donation to a cause with money you will save.

Socially responsible index. When you break it down, it looks pretty much like the TSX composite. Most major corporations have become socially responsible because they’ve had to. 0.55% MER more expensive than XIU. He suggests to instead buy the XIU or similar, and make a donation to a cause with money you will save.

0
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$25.690
Owned Owned
No

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COMMENT

Buy a hedged ETF when Canadian dollar is lower? Currency decisions are an active part of their process, they are active on currency decisions, and then they use passive ETFs. Not hedged on anything right now. Canadian dollar is stuck in a range between 0.75 and 0.77 cents. Doesn’t think Canada will raise interest rates as fast as US, which means the Canadian dollar will come under pressure. If you are buying S&P now, you are buying it for a long-term portfolio with 2-5 years horizon, because in the near term you are probably not going to get much out of it. XSP is currency hedged. XUS is not currency hedged, and it’s his ETF of choice in the US. XSP should be in a portfolio and replace big US stocks. His opinion is to don’t edge it. XUS definitively affordable at 0.10% MER. You have to really watch the underlying costs when putting an ETF in your portfolio.

E.T.F.'s

Buy a hedged ETF when Canadian dollar is lower? Currency decisions are an active part of their process, they are active on currency decisions, and then they use passive ETFs. Not hedged on anything right now. Canadian dollar is stuck in a range between 0.75 and 0.77 cents. Doesn’t think Canada will raise interest rates as fast as US, which means the Canadian dollar will come under pressure. If you are buying S&P now, you are buying it for a long-term portfolio with 2-5 years horizon, because in the near term you are probably not going to get much out of it. XSP is currency hedged. XUS is not currency hedged, and it’s his ETF of choice in the US. XSP should be in a portfolio and replace big US stocks. His opinion is to don’t edge it. XUS definitively affordable at 0.10% MER. You have to really watch the underlying costs when putting an ETF in your portfolio.

E.T.F.'s
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$33.100
Owned Owned
Unknown

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COMMENT

Buy a hedged ETF when Canadian dollar is lower? Currency decisions are an active part of their process, they are active on currency decisions, and then they use passive ETFs. Not hedged on anything right now. Canadian dollar is stuck in a range between 0.75 and 0.77 cents. Doesn’t think Canada will raise interest rates as fast as US, which means the Canadian dollar will come under pressure. If you are buying S&P now, you are buying it for a long-term portfolio with 2-5 years horizon, because in the near term you are probably not going to get much out of it. XSP is currency hedged. XUS is not currency hedged, and it’s his ETF of choice in the US. XSP should be in a portfolio and replace big US stocks. His opinion is to don’t edge it. XUS definitively affordable at 0.10% MER. You have to really watch the underlying costs when putting an ETF in your portfolio.

E.T.F.'s

Buy a hedged ETF when Canadian dollar is lower? Currency decisions are an active part of their process, they are active on currency decisions, and then they use passive ETFs. Not hedged on anything right now. Canadian dollar is stuck in a range between 0.75 and 0.77 cents. Doesn’t think Canada will raise interest rates as fast as US, which means the Canadian dollar will come under pressure. If you are buying S&P now, you are buying it for a long-term portfolio with 2-5 years horizon, because in the near term you are probably not going to get much out of it. XSP is currency hedged. XUS is not currency hedged, and it’s his ETF of choice in the US. XSP should be in a portfolio and replace big US stocks. His opinion is to don’t edge it. XUS definitively affordable at 0.10% MER. You have to really watch the underlying costs when putting an ETF in your portfolio.

E.T.F.'s
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$47.360
Owned Owned
Unknown

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PAST TOP PICK
BMO MSCI EAFE Index ETF(ZEA-T) 

September 21, 2018

(A Top Pick July 5/17, Up 9%)  A key holding of his. Equivalent of the S&P 500 for companies that aren’t headquartered in the US. Last 3 months have been hit hard by Trump tariffs. Investors shoot first, ask questions later, but he continues to be a believer. Thinks if the markets have a tough 12 months, international markets will outperform the US on the downside.

electrical/electronic

(A Top Pick July 5/17, Up 9%)  A key holding of his. Equivalent of the S&P 500 for companies that aren’t headquartered in the US. Last 3 months have been hit hard by Trump tariffs. Investors shoot first, ask questions later, but he continues to be a believer. Thinks if the markets have a tough 12 months, international markets will outperform the US on the downside.

electrical/electronic
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$18.950
Owned Owned
Yes

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PAST TOP PICK

(A Top Pick July 5/17, Up 4%) Banks are big players here, but they’ve gone nowhere because of interest rates where pretty flat. The place to be in the future. Likes it for a taxable account because it doesn’t pay the dividend, it’s one of those total return ETF, the stock price will reflect the accumulated dividend. A key holdings for them on the international side.

E.T.F.'s

(A Top Pick July 5/17, Up 4%) Banks are big players here, but they’ve gone nowhere because of interest rates where pretty flat. The place to be in the future. Likes it for a taxable account because it doesn’t pay the dividend, it’s one of those total return ETF, the stock price will reflect the accumulated dividend. A key holdings for them on the international side.

E.T.F.'s
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$31.000
Owned Owned
Yes

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PAST TOP PICK

(A Top Pick July 5/17, Up 6%) Came off hard recently. Emerging markets have become dominated by Asia, ex-Japan. 2 / 3 of the index is now the large China stocks and Korean and Taiwan, like Baidu and Samsung. In the old days emerging used to be “junky resource things,” but this is no longer the case. He is using XEC for his higher net worth clients instead of AAXJ in the US so that they are not subject to US estate.

E.T.F.'s

(A Top Pick July 5/17, Up 6%) Came off hard recently. Emerging markets have become dominated by Asia, ex-Japan. 2 / 3 of the index is now the large China stocks and Korean and Taiwan, like Baidu and Samsung. In the old days emerging used to be “junky resource things,” but this is no longer the case. He is using XEC for his higher net worth clients instead of AAXJ in the US so that they are not subject to US estate.

E.T.F.'s
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$26.210
Owned Owned
Yes

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DON'T BUY

Do you like the covered call? Not a huge fan, but it’s difficult for the individual to write covered calls because the ETF providers are in the way. Expensive at 0.71% MER, but pretty good. If interest rates rise accelerates you are probably not going to get a lot of performance. Be careful. For income, you could go to a lot of other areas. Timing better when there’s a sell-off in the market. Timing on this isn’t perfect, if you hold it there is nothing wrong with it.

E.T.F.'s

Do you like the covered call? Not a huge fan, but it’s difficult for the individual to write covered calls because the ETF providers are in the way. Expensive at 0.71% MER, but pretty good. If interest rates rise accelerates you are probably not going to get a lot of performance. Be careful. For income, you could go to a lot of other areas. Timing better when there’s a sell-off in the market. Timing on this isn’t perfect, if you hold it there is nothing wrong with it.

E.T.F.'s
Terry Shaunessy

President , Shaunessy Investment...

Price Price
$12.700
Owned Owned
Unknown

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