Today, Larry Berman CFA, CMT, CTA and Norman Levine commented about whether BPY.UN-T, JNJ-N, WFC-N, V-N, BUD-N, VET-T, POW-T, CM-T, NTR-T, UNS-T, LNR-T, ACB-T, BBD.B-T, TRP-T, ENB-T, GRC-N, EMA-T, CNR-T, NFI-T, OTEX-T, SLF-T, REM-N, HPR-T, ZWU-T, EWU-N are stocks to buy or sell.
Large Caps UK. This is a big issue with BREXIT in play. If you look at UKX-T you can see nothing has been gained from 2017 to 2019. He thinks it is very close to a time to invest in the British Pound. He prefers EWUS-T for smaller cap stocks because they have much higher upside. He is starting to nibble.
Covered Call Bank ETF managed by Larry. It's one of his favourite holdings. Long term you can see it is very interest rate sensitive. Utilities, pipelines and telcos. This is not a bond replacement but it is a defensive way to play. He was adding previously but now he would be looking to trim it in preparation for adding in the next dip. He would not sell all and it is a phenomenal holding and is a core part of all his portfolios.
Educational Segment. Eventshares created an ETF that deals with government policy. He does not see Trump winning the election last year. PLCY-N is overweight energy and industrials but it is a bet on LNG, refining, utilities and infrastructure. Also it is into military and defense. This allows you to participate in some of the dramatic changes.
Market. There are clearly risks as we go into the fourth quarter. There is a lot of political risk. The US China trade talks this weekend are important. China is playing off Trump's weaknesses. We are looking at a year when there are technically no earnings growth. He thinks the US don’t want Trump to have an election win. Congress will not pass an infrastructure spending bill. The unfunded pension liability globally is estimated to be $200-300 Trillion over the next 30-50 years. Low interest rates are a key reason for this. This problem will not be solved with interest rates going to zero again.