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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK
Stockchase Research Editor: Michael O'Reilly MRNA is now a well known name in the production of COVID-19 vaccine and is only one of three that have received approval in the US. Purchase agreements amounted to $18 billion, allowing cash flow reserves of the company to balloon. The company is now working on a single-dose product that does not require extreme refrigeration. The pullback in the share price, and a forward PE of 9x earnings, offers a good entry level here. We would buy this with a stop loss at $90, looking to achieve $175 -- upside potential of 29%. Yield 0% (Analysts’ price target is $174.25)
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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK
Stockchase Research Editor: Michael O'Reilly The semiconductor space saw global chip sales up over 14% last year and there is now a global shortage of supply. UMC is a Taiwan based chip producer and recently released sales were up 14%. It has beat earnings estimates in each of the past three reporting cycles. It trades at 31x earnings, cheap compared to its peers at 68x. It also pays a small dividend. We would buy this with a stop loss at $7, looking achieve $11.50 -- upside potential over 20%. Yield 1.56% (Analysts’ price target is $11.55)
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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK
Stockchase Research Editor: Michael O'Reilly VIAC is a media monster. Recently reported earnings beat analyst expectations and showed streaming sales were up over 70% and operating cash flow was $2.2 billion and cash reserves are now over $3 billion. Recent stock price volatility has been associated to a forced liquidation by hedge fund that impacted several other unrelated entities. This creates a good entry point as it is now trading at under 20x earnings, compared to peers at over 45x. It pays a modest dividend, backed by a payout ratio under 25% of cash flow. We would buy this with a stop loss at $25, looking to achieve $57.50 -- upside potential over 32%. Yield 2.19% (Analysts’ price target is $57.48)
COMMENT
Bond yields. They could go either way in the year ahead. Big question is do we see a test of 2%? A real chance that we could see higher rates, and then the market has to start paying attention. If the 10-year gets to 2%, it gets interesting. A game of chicken. Does the Fed do curve control, which pins down the rates in the yield curve and causes a lot of distortion? But we're not there yet. Probably 9-12 months before the Fed starts to talk about tapering or lifting rates.
COMMENT
Investment grade or high yield bonds? For the last year, he's focused on credit spread. There's been very little value. He's buying mostly short-term, under 3-4 years, and focusing on government yield curve. Risk that rates drop from these heights and a chance we run into a recession. He's neutral in his spot, and negative on credit. Not a great entry point for a great yield experience.
DON'T BUY
Tracks investment grade corporates in the US. Expensive right now. The spread is so narrow, it's hard to get excited. The bond market is having a hard time finding value. Strongly avoid right now.
DON'T BUY

He loves Loblaw, owned by WN. Even with the bakery sale, it will still trade at a discount. Nothing wrong with WN, but he'd rather own Loblaw, which makes up about 60% of WN's value.

BUY
With rising rates, bonds are not ideal. It comes down to risk/return. You might not get a great rate of return, but you preserve capital. If the stock market trades off quickly, the bond market will trade higher. He'd hold his nose and realize that everyone needs a bit of bonds to stabilize their life.
HOLD
Heavily into retail, so has had a difficult time. Trades at a significant discount to NAV, and it's finally under-distributing, which is safer. Hold it, and hope for the recovery. Expects numbers to improve. Projects are coming online. The worst is behind them.
COMMENT
REITs. He really likes industrial and multi-apartments. Those are the best and safest rates of return. He's avoiding office and retail, even though they're trading at significant discounts.
WEAK BUY
TRP vs. ENB Nothing wrong with it except the cancelling of Keystone. Still a fantastic business. Great assets. Fewer pipelines increases the value of those assets. Has underperformed. He owns ENB, with its better growth profile.
BUY
ENB vs. TRP Nothing wrong with TRP, except the cancelling of Keystone. TRP is still a fantastic business with great assets, but has underperformed. Fewer pipelines increases the value of those assets. He owns ENB, with its better growth profile.
BUY
One of his favourite investments. Assets are all in the US. Benefits from US exposure to e-commerce. Still cheap relative to NAV. Trades at a 5% discount. A great theme that you don't have to overthink. Likes management.
PAST TOP PICK
(A Top Pick Jan 12/21, Down 20%) Still really likes it. Almost a monopoly on the cargo space. Relationship with Amazon. Huge benefit from e-commerce. High margins. Geographic expansion spooked the market. Tremendous upside.
PAST TOP PICK
(A Top Pick Jan 12/21, Up 9%) Irrationally hit hard on pandemic and oil price collapse. Cost of funding has dropped. Trades at a significant discount to NAV. Should get to the mid-upper $40s over the next year.