Brianne Gardner

Definitely seeing more volatility as of late, roller coaster for investors. Since most recent pullback off correction lows 2 weeks ago, Dow is now up close to 6%, S&P 500 up 8.5%, NASDAQ up 12%. What a difference a couple of weeks can really make. Just last weeks, S&P gained almost 4% off the back of that encouraging inflation report and strong macro data.

Continued to see great earnings, boosting bets for a September rate cut from the Fed. It's also eased some of the recession concerns.

Recall that the weaker-than-expected employment report a few weeks ago sent stocks plunging on talks of recession. But that was quickly rejected, stocks began a massive rebound. She took advantage of the volatility and did some buying.

Remember that this is common, the second correction we've seen this year after April's 6% pullback. It's normal volatility and great for investors to pick up some stocks that did sell off and get back into the market.

Definitely. Expecting heightened volatility for the second half of the year. Lots of macroeconomic data still moving markets. Interest rate expectations starting to become more clear, though continue to be a key driver of market volatility and direction.

Market's now baking in a 75% probability that Fed will cut by 25 bps next month, up from 49% a week ago. Inflation is getting close to 2% for the US, already seeing cuts out of Canada. Uncertainty around US election in November.

Despite everything, still room to run in this bull market over the next 12-18 months.

80% of revenue from Mexican beer imports like Corona and Modelo. Relative to industry, has done well. Wine and spirits side hasn't performed as well as management had wanted. Risky, expects it to underperform index. 

Considered a utility. Q2 missed. Her analysts have it as a Hold, concerns over company's outlook. On the sidelines till more visibility on earnings growth and a change in momentum. 7/10 on value. She prefers FTS, for example. 

Financial sector, as a whole, has been under pressure. With the banks, you're still collecting great dividends. Struggled with loan-loss provisions, resulting in carrying a lot more capital than needed. Being more defensive, they needed to do that in face of concerns of delinquencies.

You'll be fine as a long-term holder. Prices will fluctuate, depending on where we are in the business cycle. She trimmed a lot last year. Could benefit from interest rates coming down.

Rebound in some. Especially RY, which she really likes.

Her favourite among the Canadian banks. Steady dividend yield of almost 4%. Ranks 8/10.

Scores 4/10 on value, 3/10 on fundamentals. Try to avoid. If you're in it and looking for an exit, now's not a bad time because it's had a pop YTD. Only about 4% more upside to analysts' price targets.

She prefers larger, less volatile companies that are a bit more secure. Try UNH or big US pharmaceuticals.

Up 25% YTD. Great dividend ~4.5%. Well diversified asset base to generate revenue from different streams. Only about 9% upside from here. Not a bad time to trim if you have profits, though you can probably ride it a bit higher. For new money, wait for better entry point.

Fundamentally 6/10, value of 1/10. Hit her target, but analysts still see about 40% upside. Doesn't own, likes copper space, but she'd use an ETF. Seeing a pop in materials, especially today. Volatile. If you own, ride it a bit longer and then take profits.

She owns gold throughout the portfolio anywhere from 2-5% by way of an ETF, as the liquidity is better. Still bullish on gold and silver, still upside. With inflation cooling, gold still has momentum to run. Not as an inflation hedge, but because of upside in the materials sector.

Ranks 8/10 fundamentally. Has done well, still sees upside. Usually with an acquisition, short-term pullback in the price before stock rallies back to where it was. That would be a great entry point. Great job pivoting business models. WFC raised price target to $205 with an Overweight weighting.

Can't own them all. Likes it at these levels. She owns QCOM instead.

(Stock split 11 June 2024)  She's still bullish. More volatile than normal. Fairly valued. One of the highest quality businesses in senior O&G universe. 15-18% upside potential to the highest price targets, so she's going to ride it a bit longer. Yield is 4%. 

8/10 on both fundamentals and value. The street has it at Outperform.

Still bullish. Acquisition announcement popped share price a bit, great to see. Pullback from peak gives investors a chance to get in. Her target is around $80, 20-25% gain from here. Ranks 9/10. Typically does well coming into this part of the business cycle. She and analysts rate it Outperform.

The whole space has lower beta, lower risk. 9% YOY revenue growth, well ahead of estimates. Lots in the pipeline. 15x forward PE, yield is 2%. Risks of competition, but her target is still $140 so lots of upside. Pullback provides great entry point. Analysts say Outperform of almost 25% upside from here.

Catchup trade in the real estate sector started July-August. Continued uptrend since July 18. As rates come down, real estate will benefit. Has created a great, diversified portfolio in different sectors. Still sees over 20% upside, target of ~$87. Analysts rank it an Outperform.