A lot of people are still working from home. Without the fiscal stimulus the market would not be hitting all time highs. There is a disconnect between the economy and the stock market. For the time being it is still positive but you have to watch for hazards. A hazard is the extremely low interest rates. Markets have clearly outperformed because of the push for equities.

Tech stocks. If you look in the US, he struggles with Amazon's valuation. He is currently looking for tech exposure outside of the US. Looking at semiconductors in Asia, such as Samsung. Use your money wisely and look at areas of the world that has been traded less. There are lots of opportunities.

Consumer stocks. Added Louis Vuitton recently in the international portfolio. They recently acquired Tiffany. Other consumer names have had a nice run as well. An interesting space. Everyday staples have also done very well. Many of these companies are bond proxies.

Energy stocks look quite attractive. There may be a bull market for energy. What caused the 2020 sell-off was triggered by the sell off in oil. It was then recognized simultaneously with covid. Without travel and work from home, energy demand fell dramatically. The valuation is quite cheap. He prefers large integrated companies like Shell more. However, if you have aggressive capital, it could be a good bet.

The French government has expressed its disagreement with ATD's acquisition of Carrefour. If they do business in France, they must abide by their strict labour laws. Does not think there will be a huge upside. Longer term, the stock's outlook is quite positive. The acquisition may not go through. Looking at the chart, there has been a sharp selloff so it is currently at a discount.

It is very expensive, but guidance has been an increase of 5% in revenues. The company continues to leap frog ahead. However, it is quite expensive and the demand is overbought. It is however driven by China. Has owned it before, but no longer does. Would wait for a better entry point. Holds Samsung instead.

The performance results and the underlying disconnect between Main Street and Wall Street is not showing up yet. The provisions have been raised. Usually in recessions, we see a US bank implode. This has not yet happened this time around. Has concerns over the profitability and the underlying weak fundamentals. It is being supported with substantial stimulus. It is difficult to assess risk on US banks and so would stay away.

Owns Visa. If you look back to when it first became public, it has been a solid upward movement, bar the financial crisis. Effectively, it is the mechanism to fund purchases during Covid. Move away from cash will continue and it should be a structural grower. Prefers Visa, especially with Visa Europe that was incorporated into it. The two present the same risks.

Owns Visa. If you look back to when it first became public, it has been a solid upward movement, bar the financial crisis. Effectively, it is the mechanism to fund purchases during Covid. Move away from cash will continue and it should be a structural grower. Prefers Visa, especially with Visa Europe that was incorporated into it. The two present the same risks.

We have seen a run in semiconductor names. Recently has had a nice surge. The problem is that it is quite cyclical. When the market declines, you want to buy it. From a practical point of view, he wants structural growth stories that are sustainable in downturns. It is a little rich right now.

Biden's increase in tax will affect tech companies. The problem with tech companies is that they almost pay no taxes. We are getting to a point where governments will be looking for tax dollars to pay down the tax. The likelihood of big tech paying more taxes is increasing. Ireland has been chasing after Apple for a while. There are a number of lawsuits targeting big tech. The risk is still under played. There is value in Apple but their struggle is to find the next product.

A company worth taking a look at. It is active in the payment processing space and outsourcing IT for banking. Very good company that does many acquisitions. Revenue growth has been meaningful. The only problem is that the valuation is very stretched. It does not pay a dividend either. It will continue to work but will reset if there is a decline due to the high valuation. A dividend introduction or pull back would make it attractive.

Mortgage processing type business. The gap between Main Street and Wall Street has been bridged by monetary policy. Fiscal downside is much larger in the US than other places that are more social democracies. Recovery will be tied to vaccine roll out and near term support from governments. You must weigh these into your investment choices.

A mature business that is in many ways a market leader in semiconductor and miniaturization. However in many ways it has struggled in the transition from desktop to miniaturized conductors. AMD has really succeeded here. Does not think it is well positioned for the mobile side where growth is coming from. They do pay a good dividend. It is all about entry price.

Likes the e-commerce idea. However, the US based companies are very expensive. BABA has 46% 5 year average annual growth. China continues to become more wealthy. In many ways, the disconnect between US and Chinese valuation may be catching up. (Analysts’ price target is $328.36)