Darren Sissons
Vice President and Partner at Campbell Lee & Ross
Member since: Jan '12 · 1982 Opinions
Rating Card
| All | 
Rating
| 
Big Win
| 
Win
| 
Neutral
| 
Loss
| 
Big Loss
|  |
|---|---|---|---|---|---|---|---|
| 4.32 | 159 26.50% | 142 23.67% | 98 16.33% | 126 21.00% | 75 12.50% | ||
| 1 Month | 4.33 | 12 8.33% | 42 29.17% | 58 40.28% | 30 20.83% | 2 1.39% | |
| 6 Months | 4.38 | 26 18.71% | 44 31.65% | 18 12.95% | 38 27.34% | 13 9.35% | |
| 12 Months | 4.46 | 43 31.62% | 29 21.32% | 11 8.09% | 30 22.06% | 23 16.91% | |
| 2 Years | 4.42 | 46 38.33% | 22 18.33% | 10 8.33% | 16 13.33% | 26 21.67% | |
| 5 Years | 4.03 | 32 52.46% | 5 8.20% | 1 1.64% | 12 19.67% | 11 18.03% |
Stock Opinions by Darren Sissons
No idea. We've got a slowing US economy, which is a major trading partner, and tariffs. After the talks between US and China, everyone saw that as a buying opportunity and the market's rallied ever since. You can see that clearly in the chart for the TSX.
But when you look at slowing economy, quantities of debt, unemployment, and deteriorating credit metrics, this is probably a time to take some profits rather than adding extra exposure. The optimism isn't warranted at all.
The Trump presidency has been a chaos magnet, and what it's done is to reprice some sectors. There was a buying opportunity about 6 weeks ago. If you participated in that, you've been well rewarded. But it looks as though the market's ahead of itself.
If we don't get interest rate cuts, we're going to see more unemployment and problems with company balance sheets. There are problems out there, and the Chinese tariff deal hasn't changed that.
That's probably the $1M question. A tariff is effectively inflation. Could take 1-2 quarters to hit. Rising prices will put companies under pressure. We're seeing companies that were marginally profitable already start to cut employees. Some boards are making opportunistic cuts. CEOs are being replaced.
Tariffs will be a catalyst for other changes to occur. It's providing cover for a lot of activity that's probably been needed for quite some time.
Having data centres in different regions is going to be increasingly important. AI is real, but absolutely ahead of itself. Phenomenal CEO. Up 30% YTD makes him choke on valuation. Best of breed tends to get a premium multiple. May get an opportunity to buy on a dip if we see some weak news coming out of the US.
Stock's never really recovered from oil spill in 2010. Macro overlay of tariffs and a slowing economy. Would make sense for Shell to try for a takeout, but would probably fail on anti-trust. He thinks Shell is the better company, and that's the one he holds in the space.
Generally, oil is out of favour. You make money when you buy, not when you sell. If you like the name, you can buy it here. If you get a takeout premium on it, then sell into the premium and don't wait for the close.
He's owned this since 2015, trimming 7 times (that's just good risk management). Markets were pushed well ahead of themselves in 2024, and then we saw a big retraction. Fast money has come out of this name. Down ~60%, growing double digits, 16x forward PE (vs. LLY at 43x forward PE). LLY is really strong in the US, but not outside.
At this valuation, a no-brainer. Again, you make $$ when you buy not when you sell. He's going to wait and see what happens with the CEO position.
Many attempts to lower drug prices in the US, and every one of them has failed. Very highly entrenched business to deconstruct. But stocks will rerate on the noise. So how much downside would there be to revenue?
He wouldn't buy this here. Tariffs and the drug noise have provided opportunities to expand in the healthcare space, which is very undervalued right now.
We now have a gateway to Asia. With tariffs, Canadian energy will not be welcome in the US. Integrated nature of its pipelines make it a long-term asset with growth capabilities that will reward shareholders well. Buy when it goes on sale, trim any gains. Good place to be, core holding for him.
