Today, Norman Levine and Stan Wong commented about whether IQ-Q, QSR-T, AXP-N, TCEHY-OTC, L-T, CSCO-Q, T-N, BABA-N, CGX-T, VFV-T, DIS-N, COST-Q, C-N, PWF-T, VZ-N, VGG-T, SBUX-Q, TWTR-N, TWTR-N, MU-Q, BAC-N, DOL-T, GE-N, ARX-T, KNIN-VX, SNY-N, NTR-T, BNS-T, SRU.UN-T, REI.UN-T, WEED-T, MG-T, CMA-N, ARE-T, CHR-T, HSE-T, SJR.B-T, TD-T, NVDA-Q, TECK.B-T, PWF-T, DOL-T, RECP-T, BBL-N, RIO-N, SLF-T, MFC-T are stocks to buy or sell.
This is the only Canadian bank they own. This is the most international bank in Canada, with more assets being owned outside of the country. These assets are not in the US. It has been hitting recent lows. When it sold its CI holdings, getting out of mutual funds, they have been buying a large asset manager and a private client business focusing on physician investors. The problem is the market feels they may have overpaid for these investments. Yield 4.4%. (Analysts’ price target is $86.40)
(A Top Pick July 25/17 Down 19%). It is a BC based natural gas producer that has been disappointing due to the lack of takeaway capacity. There is a possible BC LNG facility being talked for the market and demand is growing in North America for natural gas. It is not the time to sell. He likes the yield.
Now, you have tailwinds vs. headwinds: solid economic data and corporate earnings from the U.S. vs. esclating trade tensions around the world. If there's easing of the latter, then we can see a longer bull-market ride. Be in cyclicals. The
defensives including telecoms have done well the past few months, but now he suggests moving into cyclicals. About 75% of his holdings are in the U.S., especially consumer discretionary. He's also being cautious by taking profits faster, and hecurrently holds 12-15% cash which is higher than his 5% norm. He holds FANG stocks like Facebook and Google and some semiconductor manufacturers. He has sold his Canadian oil stocks as the price rose. He's not sure that oil can continue to push higher.
He owns two engineering companies – SNC Lavalin (SNC-T) and Stantec (STN-T). He keeps waiting for the actual infrastructure spending incentives from the Federal government to ignite these holdings. Aecon’s senior management does not impress him. He would prefer to hold the other alternatives.