Here is a company that has gone around buying up other software companies.  Now we are late in the investment cycle.  The multiple got to a high level so he would expect consolidation.

All the weed stocks are short for the next while.  The sector is priced for perfection 10 years from now.  There are really no earnings in the sector.

They make machine vision systems.  They are one of three.  They are very interesting businesses.  He sold earlier in the year because it had done very well for him and there was a slowing in capital spending plans in automation.  He would always keep it on the watch list.

One of the largest healthcare REITs.  They are a very well managed company.  He does not recommend it simply because it is real estate.  When interest rates are rising it is bad for REITs.

It depends on time horizon and risk tolerance.  This is one of the champs on generating return on investment for a very long time.  If you use pullbacks to get a position, get advice on how to time your entry and how to build a position.  It is an appropriate time to be buying some.

He is bullish on healthcare.  It began underperforming in 2015.  It broke out recently.  It is the largest industry weight in almost all of his portfolios.  His biggest concern is that they have a direct exposure to pharma prices.  He prefers United Health.  XLV-Q plays it broadly but he does not recommend ETFs.  You can see what happened to it in 2015.

He sold into the bid.  He stays on the sidelines because they needed to deal with the financing and the merger integration, which will take several quarters.  It makes sense to be patient.