Opinions by David Dietze | StockChase
104
David Dietze

Founder, Pres. & Chief Investment Strategist

ON STOCKCHASE SINCE Jan 2017

Point View Wealth Management

104
David Dietze

Founder, Pres. & Chief Investment Strategist

ON STOCKCHASE SINCE Jan 2017

Point View Wealth Management


Opinions by David Dietze


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General Market Comment 

September 5, 2017

Market. The FAANG stocks Facebook, Amazon, Apple, Netflix, Microsoft and Alphabet have attracted so much attention and so much money, that valuations are in the atmosphere and only one of them pays a dividend, and are all in one narrow area of the economy, i.e., Internet marketing. If you try to hitch your star to those stocks, there could be disappointment ahead. The good news is that among the rank-and-file, there are attractive valuations and some opportunities to be had. Economics 101 tells you that when prices plummet, supply dries up. As the global economy continues to rebound, demand for energy should stay firm and prices will come back in line. This is an area for those that have acrophobia at these sites. There are 3 areas of the market that look attractive right now, financials, healthcare and international. Financials got hit hard today as the 10-year treasury retreats to some of the lowest yields of the year. However, interest rates will eventually go higher as the global economy picks up.

Market. The FAANG stocks Facebook, Amazon, Apple, Netflix, Microsoft and Alphabet have attracted so much attention and so much money, that valuations are in the atmosphere and only one of them pays a dividend, and are all in one narrow area of the economy, i.e., Internet marketing. If you try to hitch your star to those stocks, there could be disappointment ahead. The good news is that among the rank-and-file, there are attractive valuations and some opportunities to be had. Economics 101 tells you that when prices plummet, supply dries up. As the global economy continues to rebound, demand for energy should stay firm and prices will come back in line. This is an area for those that have acrophobia at these sites. There are 3 areas of the market that look attractive right now, financials, healthcare and international. Financials got hit hard today as the 10-year treasury retreats to some of the lowest yields of the year. However, interest rates will eventually go higher as the global economy picks up.

Unknown
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$0.020
Owned Owned
_N/A

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BUY
Apple(AAPL-Q) 

September 5, 2017

Any particular FAANG stock you would buy? He would go with this one. It has a below market valuation, trading at about 15.5X earnings. They are on the cusp of releasing the latest edition of their iPhones, which could generate billions of dollars of new sales. They could be a huge beneficiary of tax reform out of Washington, because they have that hoard of cash overseas, which they could repatriate at perhaps a very low cost.

electrical/electronic

Any particular FAANG stock you would buy? He would go with this one. It has a below market valuation, trading at about 15.5X earnings. They are on the cusp of releasing the latest edition of their iPhones, which could generate billions of dollars of new sales. They could be a huge beneficiary of tax reform out of Washington, because they have that hoard of cash overseas, which they could repatriate at perhaps a very low cost.

electrical/electronic
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$162.080
Owned Owned
Unknown

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BUY on WEAKNESS
Aegon N.V.(AEG-N) 

September 5, 2017

A frustrating name. He likes financials and thinks there is promise. The bullish case is that it is trading well below BV and no one is paying any attention to it. The challenge is that it is in the insurance group which is still frustrated by low interest rates, and it is very hard to make money on their float. They have some risky assets that they are trying to spin off. Their execution has been very poor, but he thinks there is some promise.

Financial Services

A frustrating name. He likes financials and thinks there is promise. The bullish case is that it is trading well below BV and no one is paying any attention to it. The challenge is that it is in the insurance group which is still frustrated by low interest rates, and it is very hard to make money on their float. They have some risky assets that they are trying to spin off. Their execution has been very poor, but he thinks there is some promise.

Financial Services
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$5.530
Owned Owned
Unknown

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COMMENT
Bank of America(BAC-N) 

September 5, 2017

Bank of America (BAC-N) or J.P. Morgan (JPM-N)? He would give a slight nod to this bank because it is cheaper. Of course, J.P. Morgan has the standout Banker, Jamie Diamond. This one is probably your best pure play for a US economic strong recovery and higher US interest rates. They have a great franchise coast-to-coast. There are lots of loans out there that could adjust higher if interest rates give them a break.

banks

Bank of America (BAC-N) or J.P. Morgan (JPM-N)? He would give a slight nod to this bank because it is cheaper. Of course, J.P. Morgan has the standout Banker, Jamie Diamond. This one is probably your best pure play for a US economic strong recovery and higher US interest rates. They have a great franchise coast-to-coast. There are lots of loans out there that could adjust higher if interest rates give them a break.

banks
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$23.310
Owned Owned
Unknown

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BUY on WEAKNESS
Carnival Corp.(CCL-N) 

September 5, 2017

With hurricane Irma bearing down, he would be careful about getting in this. As a general proposition, he likes this for the long haul. The cruise/leisure industry makes a whole lot of sense going forward. You can never go wrong generally, by going with the largest player in the group. However, you do want to pick your spots.

Transportation

With hurricane Irma bearing down, he would be careful about getting in this. As a general proposition, he likes this for the long haul. The cruise/leisure industry makes a whole lot of sense going forward. You can never go wrong generally, by going with the largest player in the group. However, you do want to pick your spots.

Transportation
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$66.970
Owned Owned
Unknown

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DON'T BUY
Campbell Soup Company(CPB-N) 

September 5, 2017

He is going to steer clear of this. Had a great run close to 24 months, and has moved back as people have been rethinking the strength of brand generally. People are looking what Amazon (AMZN-Q) is doing with Whole Foods and wondering about implications for the traditional branded products, as well as about healthiness. This still has a very pricey valuation.

food processing

He is going to steer clear of this. Had a great run close to 24 months, and has moved back as people have been rethinking the strength of brand generally. People are looking what Amazon (AMZN-Q) is doing with Whole Foods and wondering about implications for the traditional branded products, as well as about healthiness. This still has a very pricey valuation.

food processing
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$46.670
Owned Owned
No

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TOP PICK
Chevron Texaco(CVX-N) 

September 5, 2017

He would be in a weakened industry group, because if the stock has underperformed along with the whole industry, there is less of a risk that it would be a specific company issue. When the whole industry rebounds, some companies don’t. This is the 4th largest dividend payer and is globally diversified. He particularly likes some new gas operations they have in Asia, some of the prime property they have in the Permian Basin and some great refining assets in California. They are going to have some new management and are firmly committed to their dividend. Dividend yield of 3.9%. (Analysts’ price target is $119.)

integrated oils

He would be in a weakened industry group, because if the stock has underperformed along with the whole industry, there is less of a risk that it would be a specific company issue. When the whole industry rebounds, some companies don’t. This is the 4th largest dividend payer and is globally diversified. He particularly likes some new gas operations they have in Asia, some of the prime property they have in the Permian Basin and some great refining assets in California. They are going to have some new management and are firmly committed to their dividend. Dividend yield of 3.9%. (Analysts’ price target is $119.)

integrated oils
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$109.440
Owned Owned
Yes

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BUY
Delta Air Lines Inc(DAL-N) 

September 5, 2017

Transportation stocks have had a kind of bumpy last few months, and have pulled back down, so are more attractive on a valuation perspective. He generally likes airlines. The business has been rationalized as they have "whittled down" to a large handful of players. They seem to be competing less on price, therefore respecting one another’s margins. Labour, etc. seems to have been put in the background. With global economy improving, they are able to keep prices high. This has a PE of less than 10.

Transportation

Transportation stocks have had a kind of bumpy last few months, and have pulled back down, so are more attractive on a valuation perspective. He generally likes airlines. The business has been rationalized as they have "whittled down" to a large handful of players. They seem to be competing less on price, therefore respecting one another’s margins. Labour, etc. seems to have been put in the background. With global economy improving, they are able to keep prices high. This has a PE of less than 10.

Transportation
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$45.840
Owned Owned
Unknown

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BUY
Walt Disney(DIS-N) 

September 5, 2017

This has world-class properties. They have the theme parks, which are unmatched by any other company. They have ESPN, your premier sports channel. There are first-class movie and entertainment productions. Currently it is a little bit on sale because of concerns about how ESPN content is going to get to the consumer and the high prices they can charge for traditional cable distributors is started to weaken a little. Increasingly, people are just wanting to stream their entertainment over their handheld device, and bypass some of the cable companies. Thinks all of this is fully reflected in the price.

entertainment services

This has world-class properties. They have the theme parks, which are unmatched by any other company. They have ESPN, your premier sports channel. There are first-class movie and entertainment productions. Currently it is a little bit on sale because of concerns about how ESPN content is going to get to the consumer and the high prices they can charge for traditional cable distributors is started to weaken a little. Increasingly, people are just wanting to stream their entertainment over their handheld device, and bypass some of the cable companies. Thinks all of this is fully reflected in the price.

entertainment services
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$101.600
Owned Owned
Unknown

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TOP PICK
General Electric(GE-N) 

September 5, 2017

The worst Dow performer this year, down 18%. However, you have world-class medical devices, world-class energy assets and world-class industrial assets, and if they don’t turn this around quickly, you are going to see this conglomeration broken up. The new CEO has just announced job cuts. Here’s a way to invest in a world class company. Dividend yield of 3.9%. (Analysts’ price target is $30.)

electrical/electronic

The worst Dow performer this year, down 18%. However, you have world-class medical devices, world-class energy assets and world-class industrial assets, and if they don’t turn this around quickly, you are going to see this conglomeration broken up. The new CEO has just announced job cuts. Here’s a way to invest in a world class company. Dividend yield of 3.9%. (Analysts’ price target is $30.)

electrical/electronic
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$24.760
Owned Owned
Yes

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COMMENT
Gilead Sciences Inc.(GILD-Q) 

September 5, 2017

Just made an acquisition of Kite Pharma at a large premium. They have some wonderful oncology drugs. You have to give them the benefit of the doubt because they have a very good track record in terms of acquisitions. Thinks they will be able to use the Kite acquisition to supplement their portfolios. Also, they still have a lot of cash on the balance sheet so they have a lot more options. They can do another acquisition or can buy back stocks. He likes this for the long haul.

biotechnology/pharmaceutical

Just made an acquisition of Kite Pharma at a large premium. They have some wonderful oncology drugs. You have to give them the benefit of the doubt because they have a very good track record in terms of acquisitions. Thinks they will be able to use the Kite acquisition to supplement their portfolios. Also, they still have a lot of cash on the balance sheet so they have a lot more options. They can do another acquisition or can buy back stocks. He likes this for the long haul.

biotechnology/pharmaceutical
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$82.560
Owned Owned
Unknown

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PAST TOP PICK
Goldman Sachs(GS-N) 

September 5, 2017

(A Top Pick June 9/17. Down 1.22%.) This is taking it on the chin a little as the 10-year treasury moved back down to under 2.1%, but that is the low point of 2017. These things are cyclical and eventually interest rates will pop up, and a company like this will follow suit. It will rebound once financial stocks start to move up again.

investment companies/funds

(A Top Pick June 9/17. Down 1.22%.) This is taking it on the chin a little as the 10-year treasury moved back down to under 2.1%, but that is the low point of 2017. These things are cyclical and eventually interest rates will pop up, and a company like this will follow suit. It will rebound once financial stocks start to move up again.

investment companies/funds
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$217.780
Owned Owned
Yes

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COMMENT
JP Morgan Chase & Co(JPM-N) 

September 5, 2017

Bank of America (BAC-N) or J.P. Morgan (JPM-N)? He would give a slight nod to Bank of America because it is cheaper. Of course, this bank has the standout Banker, Jamie Diamond. He has nothing bad to say about this bank.

Financial Services

Bank of America (BAC-N) or J.P. Morgan (JPM-N)? He would give a slight nod to Bank of America because it is cheaper. Of course, this bank has the standout Banker, Jamie Diamond. He has nothing bad to say about this bank.

Financial Services
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$89.510
Owned Owned
Unknown

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DON'T BUY
Lockheed Martin(LMT-N) 

September 5, 2017

He is going to steer clear of adding to his positions. It seems to be the most obvious choice because of the geopolitical concerns and Mr. Trump in the White House, but the price reflects all that. He is very leery of paying 25X earnings for an industrial company like this. Thinks it has gone too far and too quickly.

Transportation

He is going to steer clear of adding to his positions. It seems to be the most obvious choice because of the geopolitical concerns and Mr. Trump in the White House, but the price reflects all that. He is very leery of paying 25X earnings for an industrial company like this. Thinks it has gone too far and too quickly.

Transportation
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$302.200
Owned Owned
Yes

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BUY

As a contrarian and because this is such a brand name, he likes this and would take a position. Many people don’t realize that in many cases they own the real estate their stores are occupying. There is some upside from the real estate portfolio, and he can see them unlocking some of that value. They are jettisoning some of their underperforming stores.

department stores

As a contrarian and because this is such a brand name, he likes this and would take a position. Many people don’t realize that in many cases they own the real estate their stores are occupying. There is some upside from the real estate portfolio, and he can see them unlocking some of that value. They are jettisoning some of their underperforming stores.

department stores
David Dietze

Founder, Pres. & Chief Investment Strategist, Point View Wealth Ma...

PricePrice
$21.010
Owned Owned
Unknown

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