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Stock Opinions by Cole Kachur

COMMENT
Markets -- when to worry about being overextended?

Starting the year off on the right foot. Unfortunately, things don't just go up in a linear straight line. Similar to last July, the market's had an extended runup, with everyone feeling good. Then there was a bit of a dip. 

This market run could have more legs in it yet. But at some point, maybe in late spring, he wouldn't be surprised to see a bit of a pullback, but then leading to a strong finish to the end of the year.

Unknown
COMMENT
Are corporate fundamentals strong enough for investors to buy on dips?

Yes, definitely. For the rest of the year, it'll be a buy-the-dip mentality. Any short-term pullback should be used as a buying opportunity, primarily in high-quality investments, individual stocks, or ETFs. If you follow that this year, you should have a successful portfolio with good returns.

Unknown
COMMENT
Growth instead of value?

Yes, he's more focused toward the growth-oriented securities. This will be reflected in his Top Picks. You still have to look at earnings and different sectors of the market and do some analysis. But right now, with lower inflation and interest rates expected over the next 12-18 months, he'd tilt toward more secular growth names over traditional value type of names.

Unknown
COMMENT
Canada vs. US

For the next 12-18 months, his preference for sure would be the US market, and a tilt toward the NASDAQ over the S&P or the Dow. In his opinion, the TSX will have lagging returns over that timeframe.

Unknown
BUY
Good resource sector ETF?

It's such a broad sector, from energy to oil-related to materials to gold or uranium.

The most popular one related to the energy index is probably XEG. Exposure to most of the larger Canadian energy producers like CNQ, SU, etc.

What's catching his eye more right now is CGL, the gold bullion ETF. Recently broken out. He can see a scenario where gold moves higher to $2600 or even $3000 over the next year and a bit. Avoids the issues that come with mining in certain jurisdictions. Good way to play exposure to gold and to the commodity market in general.

E.T.F.'s
BUY
Good resource sector ETF?

It's such a broad sector, from energy to oil-related to materials to gold or uranium.

The most popular one related to the energy index is probably XEG. Exposure to most of the larger Canadian energy producers like CNQ, SU, etc.

What's catching his eye more right now is CGL, the gold bullion ETF. Recently broken out. He can see a scenario where gold moves higher to $2600 or even $3000 over the next year and a bit. Avoids the issues that come with mining in certain jurisdictions. Good way to play exposure to gold and to the commodity market in general.

E.T.F.'s
COMMENT
Avoid broad-basket commodity ETFs in favour of the specific?

Yes, as an active manager that would be his preference. Commodities don't act the same way at the same time. Some commodities will be breaking out at the same time that others will be pulling back. If we were in more of a commodity bull market, he'd say go with the broad-based exposure. 

But commodity markets are moving more independently right now, there's less correlation between them. You want to pinpoint your exposure to the area where you see opportunity.

Unknown
BUY

TEC is similar to the NASDAQ as a whole. Market-weighted exposure to some of the biggest technology names like the Magnificent 7. His view on the Big 7 is still positive, still upside in all of them. As long as nothing changes on the underlying thesis, he'd still focus on some of those large-cap tech names. This fund lets you do that. 

XQQ is another name to look at.

E.T.F.'s
BUY

TEC is similar to the NASDAQ as a whole. Market-weighted exposure to some of the biggest technology names like the Magnificent 7. His view on the Big 7 is still positive, still upside in all of them. As long as nothing changes on the underlying thesis, he'd still focus on some of those large-cap tech names. This fund lets you do that. 

XQQ is another name to look at.

E.T.F.'s
SELL ON STRENGTH
BCE Inc.
For a retiree's cash account?

Lots of people own it for the dividend. That's fine until underlying performance issues cause the stock to go down 10-15%. Right now, looks oversold, wouldn't be surprised by a short- to medium-term bounce in the not-too-distant future.

Long-term, not sure he'd want it as part of his portfolio. Better returns elsewhere. Similar dividend income from the Canadian banks or covered call strategy, with less risk.

telephone utilities
WEAK BUY
FedEx

Good company. Down from peak, bit of a bounce. Probably will keep pace with market, don't expect outperformance. Going to be part of the e-commerce economy. 

Transportation
BUY ON WEAKNESS

Seeing strong outperformance due to chips and AI. Bellwether is NVDA, followed by AMD, MU and (to a lesser extent) INTC. Just getting started on the AI movement. Chips will continue to be a major part of that. Great long-term investment for diverse exposure; could buy today and still make money.

But for a short-term trade, be cautious on entry point, as many of the names have run up. Always have to be cautious when buying something that's moved significantly to the upside already.

E.T.F.'s
BUY
Visa Inc.

Well run. Likes the e-commerce and digital space it's in. The whole sector's rebounding, upward trajectory. No issues with it. Could own for the long term. Consumer might be having a few issues, but fears of recession are subsiding, which is helping push the stock forward.

other services
WAIT
Tourmaline Oil Corp

Well run, strong company. But we're in a different market right now, where value won't perform as well as growth. If money's rotating out of your neighbourhood, you'll probably underperform. A place to be when energy pops.

oil / gas
COMMENT
US high-dividend ETF?

Problem with looking for a high-dividend US ETF, in USD, is that there aren't many of them. In Canada, when we think about high dividends, we're thinking 7-9% yield. A lot of similar US ETFs pay only around 3-4%. Depends on an investor's goals. 

When he invests in the US, he's looking for more growth-oriented securities. In Canada, he'd focus on income-type companies that can generate a more sustainable cashflow. Canada is more a low-growth environment. Whereas US is more about growth, especially with the NASDAQ.

Unknown
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