Within the payment card space, AXP-N has a closed loop network -- they can gather their own customer data on spending and credit use. This allows them to do better target marketing. Someone will probably come in to buy that network in the future he thinks. About 20% of their revenue comes from credit card balances making them susceptible to credit downgrades. He would not step into them now.

An interesting turnaround story. It will never have the Herculean run they had in the past. An interesting candidate for a covered call option write strategy. At the end of the day he wants to see how the market goes -- if the market falls this will fall faster (high beta). Trade resolution will cause the stock to continue higher, but otherwise it may stutter. He would wait for a while.

It is struggling with reimbursement risk and is a real political hot potato. The US Administration is looking for political wins going into elections and will likely target drug costs. He would step away right now. He wouldn't try to chase value.

This really reacts to daily user usage metrics. He has been hesitant to enter into fad investing. He thinks it may get picked up by another company and bolted on their social media strategy. The multiple is volatile due to the swings from negative to positive earnings. They are up against a giant, so he would stay away for now.

He wouldn't lean into the semi-conductor space yet. Last earnings they beat, but they are trading at 50 times earnings -- pretty rich this late in the cycle. If the market goes down, this will likely fall faster.

(A Top Pick Sep 12/18, Up 20%) He still likes being in this. A real steady grower. If you think 10 year rates stay around 2% this will be good to hold. If interest rates go up, this will be a tough hold. He thinks slow growth or a modest recession is likely, so holding this is good. If economic growth accelerates, selling of real estate will accelerate too and he would be forced to sell out.