Darren Sissons

Markets and leveraged Chinese real estate. Across an economy the size of China, it's just a drop in the ocean. Will it create moral hazards or underlying problems for Chinese investors? A major form of investment has been real estate, so the issue is will there be a contagion effect? The Chinese government seems to be fairly on top of it. It won't be a Lehman Brothers event, though others are classifying it that way.

Market opportunities. Sometimes you get lucky, and a stock that you've held forever gets recognized by the market and gets a leg up. Also renewables, either directly or via first or second derivatives, where products and then consumers benefit. These derivatives often have the greater upside. Be wary of putting new money into sectors that have had a significant run. It may be time to trim those. You make money when you buy, not when you sell.

Reopening trades will be somewhat lumpy recovery stories. Watch the level of vaccinations. We're starting to think seriously about moving towards a recovery and what will benefit. Companies that have suffered from, but not been killed by, the pandemic offer the greatest upside. Think aviation, airports, cross-border, restaurants. You want exposure to those, but it's going to be a longer term story. Not 6 months, more like a 1-2 year trade.

Collaboration software. Topline has had phenomenal growth. Operating leverage concerns him. Losses are growing faster than revenue. If we get a correction away from tech stocks, this kind of company will really get hit. Interesting company, but risk/reward is too binary.

Interesting story at these levels. Going to be splitting legacy divisions from higher growth. Will take a couple of quarters to show whether higher growth engine will provide more upside. Attractive dividend. Worth looking at for a trade.

Best bank in India. Foreign investors like it a lot. Challenge is low interest rates, but the macro is changing. Upside from these levels. Reasonable valuation. Reasonably attractive at these levels.

Short. A volume story on semiconductors. Problem is the stock's gone vertical. Has run significantly like all semis. Looking out 6-12 months, it could come back quite hard. Very strong cashflow. Well capitalized. Great company, but entry is too high. A good short.

Starting to see a sector rotation into growth stories that have more solid fundamentals. Dividend is reasonably attractive, balance sheet is great. Challenge is that market seems to be boom/bust, and there's competition from Europe. Don't chase. If you hold, keep it. Oracle offers more upside.

Struggles with this. Earnings have remained largely unmoved from a fundamental point of view. Will acquisitions actually move the needle? Quite expensive for what it is. He's watching, but they'll have to show him the money before he'd be a buyer.

A holding company with a number of assets with exposure to Chinese e-commerce. A leveraged play. Better to own the underlying securities. Transaction costs will kill you.

The political lens is not helpful. Structural headwinds, but the underlying e-commerce market is not going to disappear. Don't buy BABA in the US; you must buy in China or Hong Kong. Danger of delisting. Reasonable value. OK if you can stomach the risks, but if you can't then don't buy.

A head-scratcher. Attractive dividend as a bond proxy. A buy at these levels for income. Undervalued. If you're looking for growth, this isn't the one for you.

(A Top Pick Sep 24/20, Up 18%) Prospects now are better than last year. Vaccine. Consecutive dividend increases. Group lawsuits have been settled. Buy it, put it away, give it to the kids. Attractive at these levels.

(A Top Pick Sep 24/20, Up 4%) Will benefit from the recovery. Safe dividend play. Dividend is relatively slight. Continues to buy for new clients.

(A Top Pick Sep 24/20, Up 36%) Great company. Secure holding. Expects to own for a number of years. Shouldn't go down too much here. Reasonable value longer term. Buying for new clients.