BDI-T 0.24 FIH.U-T 0 MATR-T -0.03 TOU-T -0.5 PPL-T 0.09 ZLU.U-T -0.3
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Today, Lorne Steinberg commented about whether ING-N, BN-FP, BRK.B-N, KHC-Q, XCB-T, ABT-N, INTC-Q, AMD-Q, PLZ.UN-T, 6804-JP, RDS.B-N, MS-N, INTC-Q, SU-T, ABX-T, ZQQ-T, BCE-T, T-T, BCE-T, RCI.B-T, JPM-N, NKLA-Q, LB-T are stocks to buy or sell.

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COMMENT

Market Outlook(A Commentary)

Jul 22, 2020
Market Outlook Investing when interest rates are zero are driving up bond values. Ten year US treasuries are down to a yield of 0.6%, down from 2.0% a year ago. Interest rates will likely creep back up a bit as central banks take their foot off the gas, at least a little. This is expected to reduce the valuations of bonds soon. He expects the global economies will recover eventually after this. In ten years time we think of this event as a distant memory. Don't get used to mortgage rates being this low forever. His free website is steinbergwealth.com.
Lorne SteinbergLorne Steinberg
Unknown
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DON'T BUY

Laurentian Bank(LB-T)

Jul 22, 2020
It is the only unionized bank in North America. That is why it remains independent. They will struggle to get scale and as a result they have cut the dividend. There are better opportunities out there.
Lorne SteinbergLorne Steinberg
No
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$27.790

Stock price when the opinion was issued

banks
DON'T BUY

Nikola Inc.(NKLA-Q)

Jul 22, 2020
A $15 billion marketcap company and no revenues -- a "story" stock. A venture capital type of investment. It is highly speculative. A competitive space and not for the faint of heart.
Lorne SteinbergLorne Steinberg
No
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$36.570

Stock price when the opinion was issued

Automotive
HOLD

JP Morgan Chase & Co(JPM-N)

Jul 22, 2020
Collateralized loan obligations? He likes the US banking sector in general, although he holds others than JPM. CLOs are hard to understand. The Fed Reserve looks closely at these in depth. He is not concerned about their exposure in CLOs and believes they are well capitalized.
Lorne SteinbergLorne Steinberg
No
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$98.690

Stock price when the opinion was issued

Financial Services
COMMENT

BoC interest rates?(A Commentary)

Jul 22, 2020
BoC interest rates? He thinks the Bank of Canada is following the footsteps of other central banks. We have probably seen the last cut from the BoC and we are in a good position now.
Lorne SteinbergLorne Steinberg
Unknown
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COMMENT

Rogers Communications (B)(RCI.B-T)

Jul 22, 2020

A risky telco? He does not own RCI in his portfolios. The dividends are secure, but he prefers BCE and T. They are all facing similar challenges. He thinks RCI has not been as good at controlling costs.

Lorne SteinbergLorne Steinberg
Unknown
Unlock Rating
$55.790

Stock price when the opinion was issued

Cable
COMMENT

BCE Inc.(BCE-T)

Jul 22, 2020

A risky telco? He does not own RCI in his portfolios. The dividends are secure, but he prefers BCE and T. They are all facing similar challenges. He thinks RCI has not been as good at controlling costs.

Lorne SteinbergLorne Steinberg
Unknown
Unlock Rating
$56.430

Stock price when the opinion was issued

telephone utilities
COMMENT

Telus Corp(T-T)

Jul 22, 2020

A risky telco? He does not own RCI in his portfolios. The dividends are secure, but he prefers BCE and T. They are all facing similar challenges. He thinks RCI has not been as good at controlling costs.

Lorne SteinbergLorne Steinberg
Unknown
Unlock Rating
$23.440

Stock price when the opinion was issued

telephone utilities
HOLD

BCE Inc.(BCE-T)

Jul 22, 2020
7% 2027 debenture All BCE securities are rock-solid credit. Nothing to worry about even in this environment and he owns these bonds in their portfolios. Zero worry.
Lorne SteinbergLorne Steinberg
Unknown
Unlock Rating
$56.430

Stock price when the opinion was issued

telephone utilities
BUY ON WEAKNESS

BMO NASDAQ 100 HEDGED TO CAD INDEX ETF(ZQQ-T)

Jul 22, 2020
If you buy ZQQ, you are buying all the stocks that have done remarkably well -- so timing is not good. He would look for a better entry point.
Lorne SteinbergLorne Steinberg
Unknown
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$79.340

Stock price when the opinion was issued

E.T.F.'s
SELL ON STRENGTH

Barrick Mining(ABX-T)

Jul 22, 2020
Gold stocks have done a terrible job creating investor wealth. The share price is basically where it was 30 years ago. If gold keeps going up, then the share price will go up. When interest rates go up, it will be the end of this gold run. He would suggest taking profit and going elsewhere.
Lorne SteinbergLorne Steinberg
Unknown
Unlock Rating
$37.990

Stock price when the opinion was issued

precious metals
DON'T BUY

Suncor Energy Inc(SU-T)

Jul 22, 2020
The entire oil sector will continue to struggle. The only reason oil prices have rebounded is that Russia and OPEC agreed to cut production a bit. His view on the energy sector is that they no longer own anything in this sector. Cutting dividends or eliminated dividends are likely.
Lorne SteinbergLorne Steinberg
No
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$24.480

Stock price when the opinion was issued

integrated oils
BUY ON WEAKNESS

Intel(INTC-Q)

Jul 22, 2020

INTC has always been a top pick for him. They are losing the contract with Apple, because the company will begin making their own chips. It will not have a massive impact on their bottom line. They do not own INTC right now. As the earnings have been cyclical, he is waiting for a pullback. It has a bullet proof balance sheet.

Lorne SteinbergLorne Steinberg
Unknown
Unlock Rating
$61.050

Stock price when the opinion was issued

computer parts mnfctr
PAST TOP PICK

Morgan Stanley(MS-N)

Jul 22, 2020
(A Top Pick Aug 15/19, Up 36%) They just came out with great earnings. It trades at 10 times earnings and 2.7% yield. He is still a very happy owner.
Lorne SteinbergLorne Steinberg
Owned
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$51.000

Stock price when the opinion was issued

investment companies funds
PAST TOP PICK

Royal Dutch Shell PLC (B)(RDS.B-N)

Jul 22, 2020
(A Top Pick Aug 15/19, Down 38%) He sold this about a month ago on the basis of them exiting all energy stocks. A great company, but they created an earthquake when they cut dividends for the first time since WWII. The whole sector is under incredible pressure.
Lorne SteinbergLorne Steinberg
No
Unlock Rating
$30.970

Stock price when the opinion was issued

Energy
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