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Market. There were record flows into US Equities. Some bubble sectors in January went parabolic. Crypto and Cannabis have come off since January. We moved to a new environment for volatility. REITs are good if you are looking for yield. Utilities are strained to deliver. Growth cycles peter out as people retaliate. They should not pay as much for the growth to come. Industrial materials have much & more attractive valuations. The correction could be about the market discounting slowing economic growth.

DON'T BUY

He has a short on this. Poor momentum, high stock volatility. It scores one of the worst on price momentum. There is not a compelling value argument. He needs to see cash flows come back to the sector.

HOLD

Management has been very good at calling macro moves. It does not hit his metrics, however. It is a relatively stable stock. A low payout ratio and low yield. You can hold it for stability for the long haul. It is an implied hedge against the market.

BUY

He was long about a year ago. It had a rough ride but he is long again now. The valuation has become compelling. Good balance sheet and debt not a problem.

WEAK BUY

It scores in the top percent as a cheap stock but in the bottom in term of price momentum. It is a value stock at this point.

BUY

He has been alternately long and short and gets it wrong each time. It is a very volatile stock. It is in the bottom 10% in terms of price stability. It scores well in terms of valuation. They are cash flowing again. He hesitates to give a recommendation but it now is a small buy for him.

DON'T BUY

It is a stable stock with stable earnings. But the price momentum is weak.

DON'T BUY

He is short but it is getting a bit long in the price. It looks expensive.

DON'T BUY

The challenge with the pipes is that they are sensitive to rates and are caught up in transpiration issues.

DON'T BUY

He likes the material space. He is not long yet. He needs to see more stability in the share price.

PAST TOP PICK

(A Top Pick Jan 16/17, Up 90.29%) He is happy with it. He still owns it. It is still a cheap stock. It scores in the top 20% on valuation. Traditionally a terrible business, they have rationalized it. Investors can still enjoy the ride.

PAST TOP PICK

(A Top Pick Jan 16/17, Down 0.98%) They have been growing and adding to their business. It is kind of in no man’s land here at present.

PAST TOP PICK

(A Top Pick Jan 16/17, Up 7.30%) They had a good quarter but are caught up with other dividend paying stocks selling off. It is in the top 10% in terms of valuation. A good stable business.

DON'T BUY

You might want to hold it for the 4% yield. 90% payout yield. It scores right in the middle on every metric for him.

DON'T BUY

13 times cash flow, okay return on equity. Not a ton of free cash flow. High cash to book. Payout ratio is above 100%. Price momentum is the problem here.