Tyler Mordy
Member since: Jul '16
President & CIO at
Forstrong Global Asset Management
Forstrong Global Asset Management
239 Opinions
Latest Top Picks
(A Top Pick Sep 26/19, Up 13%) A unique kind of ETF--mortgage REITs don't own physical property, but borrow short and lend long to mortgage-backed securities. The lifeblood of mortgage REITs is a positive yield curve. REM is a bet on a steepening yield curve. Great for income seekers.
(A Top Pick Sep 26/19, Up 4%) Europe has zero expectations for growth, so this was a reluctant top pick. Europe has been left for dead. Long-term though, this should be fine, because of rock-bottom interest rates there, there's a move from bonds into stocks.
(A Top Pick Sep 26/19, Up 1%) Before the virus, Asian countries like South Korea were outperforming, and he feels this area has been unfairly sold off. South Korea will rebound, likely in the second half of 2020. If you own this, hold it.
He still like this. Bond markets are hitting record lows with the 10-year yield. The Fed could drop rates in a surprise move; Powell is more pro-active now to cut rates. The lifeblood of mortgage REITs is a steepening yield curve. Meanwhile, you collect a nice dividend of 7.87%.
For those who don't want an ETF that's too country- or sector-specific. GMF is 50% China, with countries integrated in the global supply chain and have sold the most during the virus, yet represent good value. He predicts a V-shape recovery and a strong latter-2020.
Signal
Opinion
Expert
Chart
COMMENT
COMMENT
February 25, 2020
Monetary policy-makers have been responding to crises over the years (i.e. trade wars). Economic growth should stabilize in the second half of 2020. Don't be skittish about the current sell-off and virus outbreak. Keeping looking long-term and buy the dip. This is the first pandemic during social media (not even SARS); history tells us these are short-term crises, and we live in an age of so much information. China, you could say, has over-reacted (which is good). The bond market has gone crazy as investors flock to safety, but bonds are priced for stagnation. Crazy flows into bonds, partly because of a hangover from the 2008 recession.
Show full opinionHide full opinion
Monetary policy-makers have been responding to crises over the years (i.e. trade wars). Economic growth should stabilize in the second half of 2020. Don't be skittish about the current sell-off and virus outbreak. Keeping looking long-term and buy the dip. This is the first pandemic during social media (not even SARS); history tells us these are short-term crises, and we live in an age of so much information. China, you could say, has over-reacted (which is good). The bond market has gone crazy as investors flock to safety, but bonds are priced for stagnation. Crazy flows into bonds, partly because of a hangover from the 2008 recession.
BUY WEAKNESS
BUY WEAKNESS
February 25, 2020
A very old one from 2003, the largest in water. It focuses on purifying water. Water will become more important than oil. It's US-focused. CGW and CWW are more globally-oriented water ETFs. PHO scores high in ESG. This has good tailwinds, but that's already priced into PHO. Trade at 4x book and 33x earnings. This has outperformed its peer in the U.S. Wait for a correction.
A very old one from 2003, the largest in water. It focuses on purifying water. Water will become more important than oil. It's US-focused. CGW and CWW are more globally-oriented water ETFs. PHO scores high in ESG. This has good tailwinds, but that's already priced into PHO. Trade at 4x book and 33x earnings. This has outperformed its peer in the U.S. Wait for a correction.
E.T.F.'s
PARTIAL SELL
PARTIAL SELL
February 25, 2020
Any asset tilted to deflation is a winner. US growth stocks are a very crowded traded, so not good. They're melting up at a crazy pace. Take profits from the US tech sector.
Show full opinionHide full opinionAny asset tilted to deflation is a winner. US growth stocks are a very crowded traded, so not good. They're melting up at a crazy pace. Take profits from the US tech sector.
E.T.F.'s
DON'T BUY
DON'T BUY
February 25, 2020
A small-cap Japan ETF? Vanguard offers cheap MERs and diversified ETFs, but US stocks are overbought. Look at EM, Europe, Japan, etc. instead. There's a risk of melt-up with US stocks, but not outside the U.S.
Show full opinionHide full opinionA small-cap Japan ETF? Vanguard offers cheap MERs and diversified ETFs, but US stocks are overbought. Look at EM, Europe, Japan, etc. instead. There's a risk of melt-up with US stocks, but not outside the U.S.
E.T.F.'s
COMMENT
COMMENT
February 25, 2020
It's a good place to start, low-cost and liquid. Long-term this is set up for a good return. But this is very broad-based, overweighting the winners of recent years. He prefers specific
Show full opinionHide full opinionIt's a good place to start, low-cost and liquid. Long-term this is set up for a good return. But this is very broad-based, overweighting the winners of recent years. He prefers specific
E.T.F.'s
BUY
BUY
February 25, 2020
A long-term hold? A great long-term hold as a building block for a diversified portfolio. A great, actively managed ETF with the right sector mix. The only worry is that interest rate-sensitives assets like REITs have had a great run-up and are now overvalued. Pays a good 4% dividend. A long-term hold.
Show full opinionHide full opinionA long-term hold? A great long-term hold as a building block for a diversified portfolio. A great, actively managed ETF with the right sector mix. The only worry is that interest rate-sensitives assets like REITs have had a great run-up and are now overvalued. Pays a good 4% dividend. A long-term hold.
REAL ESTATE
PAST TOP PICK
PAST TOP PICK
February 25, 2020
(A Top Pick Sep 26/19, Up 13%) A unique kind of ETF--mortgage REITs don't own physical property, but borrow short and lend long to mortgage-backed securities. The lifeblood of mortgage REITs is a positive yield curve. REM is a bet on a steepening yield curve. Great for income seekers.
Show full opinionHide full opinion(A Top Pick Sep 26/19, Up 13%) A unique kind of ETF--mortgage REITs don't own physical property, but borrow short and lend long to mortgage-backed securities. The lifeblood of mortgage REITs is a positive yield curve. REM is a bet on a steepening yield curve. Great for income seekers.
E.T.F.'s
PAST TOP PICK
PAST TOP PICK
February 25, 2020
(A Top Pick Sep 26/19, Up 4%) Europe has zero expectations for growth, so this was a reluctant top pick. Europe has been left for dead. Long-term though, this should be fine, because of rock-bottom interest rates there, there's a move from bonds into stocks.
Show full opinionHide full opinion(A Top Pick Sep 26/19, Up 4%) Europe has zero expectations for growth, so this was a reluctant top pick. Europe has been left for dead. Long-term though, this should be fine, because of rock-bottom interest rates there, there's a move from bonds into stocks.
E.T.F.'s
PAST TOP PICK
PAST TOP PICK
February 25, 2020
(A Top Pick Sep 26/19, Up 1%) Before the virus, Asian countries like South Korea were outperforming, and he feels this area has been unfairly sold off. South Korea will rebound, likely in the second half of 2020. If you own this, hold it.
Show full opinionHide full opinion(A Top Pick Sep 26/19, Up 1%) Before the virus, Asian countries like South Korea were outperforming, and he feels this area has been unfairly sold off. South Korea will rebound, likely in the second half of 2020. If you own this, hold it.
E.T.F.'s
DON'T BUY
DON'T BUY
February 25, 2020
Canada has a branding problem now--money isn't flowing into Canada. Look at Teck Resources yesterday withdrawing a massive project. We have no catalyst to turn things around, though he hopes things do turn around. The yield of this is alright though, so you are paid to wait. Look abroad for better returns like South Korea, which should bounce back.
Canada has a branding problem now--money isn't flowing into Canada. Look at Teck Resources yesterday withdrawing a massive project. We have no catalyst to turn things around, though he hopes things do turn around. The yield of this is alright though, so you are paid to wait. Look abroad for better returns like South Korea, which should bounce back.
E.T.F.'s
WEAK BUY
WEAK BUY
February 25, 2020
He used two US dividend ETFs: VYM-N and VIG-N. VYM screens companies for their absolute yields, thus overweights financials VIG looks for companies that have increased dividends for the last 10 years and overweight them, which is more cyclical. It's a decent, long-term core holding. Nothing exciting.
He used two US dividend ETFs: VYM-N and VIG-N. VYM screens companies for their absolute yields, thus overweights financials VIG looks for companies that have increased dividends for the last 10 years and overweight them, which is more cyclical. It's a decent, long-term core holding. Nothing exciting.
E.T.F.'s
WEAK BUY
WEAK BUY
February 25, 2020
It's a pure beta play on US small-caps, the only American space that is underbought. This is a decent holding for a cyclical uptick in the global economy, though he finds the overall American market overbought. A good holding.
Show full opinionHide full opinionIt's a pure beta play on US small-caps, the only American space that is underbought. This is a decent holding for a cyclical uptick in the global economy, though he finds the overall American market overbought. A good holding.
E.T.F.'s
BUY
BUY
February 25, 2020
For RRSP? Europe is primed for a good 2020; he's bullish Europe, contrary to other analysts. The Euro is more stable than many think. France is showing an uptick. Europe looks good for the coming decade in terms of expected returns. Growth profiles between Europe and the US are not that different.
Show full opinionHide full opinionFor RRSP? Europe is primed for a good 2020; he's bullish Europe, contrary to other analysts. The Euro is more stable than many think. France is showing an uptick. Europe looks good for the coming decade in terms of expected returns. Growth profiles between Europe and the US are not that different.
E.T.F.'s
TOP PICK
TOP PICK
February 25, 2020
He still like this. Bond markets are hitting record lows with the 10-year yield. The Fed could drop rates in a surprise move; Powell is more pro-active now to cut rates. The lifeblood of mortgage REITs is a steepening yield curve. Meanwhile, you collect a nice dividend of 7.87%.
Show full opinionHide full opinionHe still like this. Bond markets are hitting record lows with the 10-year yield. The Fed could drop rates in a surprise move; Powell is more pro-active now to cut rates. The lifeblood of mortgage REITs is a steepening yield curve. Meanwhile, you collect a nice dividend of 7.87%.
E.T.F.'s
DON'T BUY
DON'T BUY
February 25, 2020
It's very nichy, though it offers good exposure to healthcare. It's a high-beta play on healthcare, biotech and medical devices. His main worry is uncertainty around the US election, namely Bernie Sanders. If he nationalizes medical care, then this ETF will suffer.
Show full opinionHide full opinionIt's very nichy, though it offers good exposure to healthcare. It's a high-beta play on healthcare, biotech and medical devices. His main worry is uncertainty around the US election, namely Bernie Sanders. If he nationalizes medical care, then this ETF will suffer.
E.T.F.'s
Comments
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