Today, Christine Poole commented about whether BAM.A-T, KKR-N, JPM-N, L-T, JNJ-N, AQN-T, EMA-T, BCE-T, BX-N, ENB-T, EMP.A-T, AC-T, C-N, MDLZ-Q, PPL-T, UL-N, ABT-N, PYPL-Q, PFE-N, BEP.UN-T, UNH-N, CVS-N, OTIS-N, TD-T, MSI-T, CAS-T are stocks to buy or sell.
Blackstone vs. KKR Both good and both are global players. She likes the private equity space, and the way to invest here is through stocks like these. She plays this space through BAM. All have a strong global presence. Private equity will see continued secular growth with interest rates staying near zero. Large institutions are seeking returns in private equity and infrastructure and will invest more here.
She owns JP Morgan in US banks. They just announced a new CEO. They need to spend more on risk monitoring, which is strange so late in the day. This will drag on the recovery on their bottom line, because this spend will weigh on their expenses. Banks on both sides of the border are attractive. She prefers JPM because their managers are strong; they're the cream of the crop among US banks. JPM was very conservative in their provisions in the last few quarters. Will bounce back.