He is neutral on this and is very cautious on energy and has been for the entire year. At this time there has been a real whip in refiners. He has backed away from the space, because they are really whippy. Unlike some stories, such as biotech, you take the stairs up and the elevator down, so you have to be really careful about your entry point. He would prefer something a little more conservative such as Mkt Vectors Oil Services ETF (OIH-N).

A great example of “Where there’s smoke, there’s often fire”. They’ve had conflict of interests with sales practices, etc. Historically, they are now trading at a discount. The problem is, what originally started in the personal consumer bank, has now really bloomed out to some commercial practices and corporations. If it turns out this is really bank wide, you are dealing with a whole other can of worms. You always want a high-quality franchise such as Bank of America (BAC-N) or J.P. Morgan (JPM-N). (See Top Picks.)

Video streaming. IPO’d at $14 a share and is currently at about $25.50. If you do the work, investigate the company and look at the end market you can get a very high hit rate on IPOs and do extremely well. At this point, he would say there is going to be significant turnover with a lot of people chasing it, and you are cruising in the $24-$28 range now. With that, there is going to be a lot of investor churn. There is a lot of head and tail winds mixing around. This is a point when his practice would be to step away. You are taking an outsized risk if they miss anything now.

Focuses on larger companies that have sustainable earnings drive with good moats around their franchise. This company is definitely one of those. At the same time, there is a product cycle to this company. When that happens, it typically happens after a larger product launch. This one is in an interesting situation right now. What they’ve opened up has a real chance of being game changing with real legs to it. However, it is going to take time. The iPhone 10 is selling at $1000 and up, and getting to a price point that is prohibitive for the average consumer, and is likely going to be bifurcating the market into a high and low end. The company has lots of runway left in the longer-term. Right now, you need to give it a little time for what seems to be a pretty seismic shift.

Down 15%. Hold or Sell? He would probably get rid of this. 15% is something you never want to lock in, but at the same time you can use this to offset any capital gains in other positions. This is in a sector that is technically broken.

(A Top Pick May 17/17. Up 28%.) He likes that this isn’t a “one trick pony”. It has devices, diagnostics, nutrition, etc. A broad, diversified franchise, in a sector he approves of. Thinks it continues to make a lot of sense.

(A Top Pick May 17/17. Up 5%.) The chart is showing the stock has consolidated a little. Had a pretty great move in the first part of the year, as well as last year. The driver is still intact. Ads continue to go online. They are garnering a great share of Search. Spending in AI and everything in the background for secular drivers. He still likes this.