COMMENT
What are you paying the most attention to in the markets? The earnings season just starting, especially the US banks. Government stimulus has obviously helped. All eyes are on the upcoming US election. Heightened volatility in the case of a contested outcome, as in 2000 when the market pulled back. Finally, governments have extended stimulus packages, though troubling that the US has not.
COMMENT
Interest rates might not rise for years. You're right. The US Fed says until at least 2023, and this provides a backstop to the markets. Lots of liquidity out there. Companies have accessed credit and capital. But all this excess has increased investor appetite, high stock valuations, narrowing credit spreads. Investors are seeking yield and are willing to pay up.
COMMENT
Stephen Poloz comment that rates will stay low for a generation. Because of the severity of the pandemic. Global lockdown has put a lot of industries at risk, and they can't open until Covid is under control.
DON'T BUY
A Covid winner, but you have to look ahead. High valuation, so a lot of growth expectations built in. Geared to higher income households, into fitness, and like to cycle indoors. A narrow market.
DON'T BUY
Likes healthcare because of demographics, but not her preference. In the process of building up their pipeline. Revenue portfolio will have another period of patent expiration. Wants to see more visibility on the pipeline, or perhaps an acquisition.
BUY
An income stock. Yield is about 8%, and thinks the dividend is safe. Payout ratio from operations is around 70%. Anything energy is out of favour. Disconnect between fundamentals and valuation. Attractive here. Reaffirmed cashflow targets for the year. It does have higher debt, but it continues to be investment grade.
DON'T BUY

Hold ENB and PPL instead, which have more robust cashflows and can sustain the dividend. Cut dividend, and still looking for partner for their chemical plant. Overhangs on the stock. Wouldn't add at current levels in this environment. Yield is 3.7%.

COMMENT

Energy names if Biden wins. A Biden win would be positive for green energy. Renewable producers have already run up. Don't chase. Opportunity to buy when there's a pullback. She owns BEP.UN and AQN. Long-term value. AQN you could start adding right here. Wait on BEP.UN.

BUY ON WEAKNESS

A Biden win would be positive for green energy. Renewable producers have already run up. Don't chase. Opportunity to buy when there's a pullback. She owns BEP.UN and AQN. Long-term value. AQN you could start adding right here. Wait on BEP.UN.

BUY

A Biden win would be positive for green energy. Renewable producers have already run up. Don't chase. Opportunity to buy when there's a pullback. She owns BEP.UN and AQN. Long-term value. AQN you could start adding right here. Wait on BEP.UN.

BUY
Got hit really hard with Covid. Weren't able to do showings to new clients. There will be a slow improvement over time. Whole industry remains attractive. Excellent operator. Might take more than 12 months to get to pre-Covid levels.
PAST TOP PICK

(A Top Pick Oct 09/20, Down 1%) Still likes it for new client money. Global. Diversified. Likes the Oaktree Capital acquisition. Lots of liquidity to take advantage of opportunities. More growth oriented than a big dividend.

PAST TOP PICK
(A Top Pick Oct 09/20, Down 1%) Has done well despite what they've gone through. Streaming has done extremely well. Parks division will be a Covid recovery play.
PAST TOP PICK
(A Top Pick Oct 09/20, Up 24%) Utilities represent half their revenue, and this stream is quite resilient. Secular theme that water is scarce. One of the most direct plays into the water industry. Price is fully valued. Wait for a pullback to put in new money.
BUY ON WEAKNESS
Renewable space is attractive, a secular growth theme. You want exposure to the sector. Stock price has run up, so wait for a pullback. Good long-term play. Yield is 1.6%.