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COMMENT
Sell US banks and move into credit cards, or is there more runway? The banks have had a good rally. May want to lighten up a bit if you have really high exposure. Yield curve steepening is good for banks. If Fed cuts, impacts the front of the curve and so the curve looks better. Keep JP Morgan, which she owns. Whether to double down on Mastercard if you already own Visa, depends how much exposure you want. Also consider diversifying into something totally different.
HOLD
Generally, she doesn't have a core position in telecoms. She doesn't see the growth. Dividends are safe. Rogers has lagged BCE, but looks as though it's stabilizing here. Wireless will drive these companies. Subscribers continue to go up, and they also sell data. Rogers is a safe income stock. Yield is just shy of 3%.
Cable
PAST TOP PICK
(A Top Pick Sep 11/18, Down 5%) Need a longer term perspective. Temporarily idling potash mines. Still quite positive on the outlook. Generating a lot of free cash flow, synergies from the merger. Doesn't need strong commodity price to grow cash flow and earnings. Increasing dividend and buying back stock. Looking to increase share in the US.
agriculture
DON'T BUY
Attractive valuation. Owns CVS Health instead, which is vertically integrated. So CVS is better positioned in the new world of health in the US to bring down costs. CVS trading at 9-10x earnings.
specialty stores
DON'T BUY
Very hard to forecast gold, as it's driven by sentiment, such as feelings around negative interest rates. She doesn't own any gold producers. This is an easy way to get into the sector, but she doesn't buy ETFs. If you buy gold now, your outlook is more negative than positive. She doesn't think a recession is immiment.
E.T.F.'s
