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PAST TOP PICK
(A Top Pick Sep 10/20, Up 74.4%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with UVSP has triggered its stop at $26.50. To remain disciplined, we recommend covering the balance of the position. Combined with the previous recommendation to cover half the position, this results in net investment return of 52%.
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PAST TOP PICK
(A Top Pick Dec 17/20, Up 71.7%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with JEF is progressing well. We recommend trailing up the stop (from $10.50) to $14.50. If triggered, this would result in a net investment return of 36%, considering the previous recommendation to cover half the position.
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PAST TOP PICK
(A Top Pick Mar 11/21, Up 66.7%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with NVDA is progressing well. We recommend trailing up the stop (from $188) to $203. If triggered, this would result in a net investment return of 36%, considering the previous recommendation to cover half the position.
computer software / processing
COMMENT
Consumers are in good shape, though US income subsidies are ending. Consumer sentiment has weakened which may moderate spending, but household incomes have returned to pre-Covid levels while savings rates have soared. Consumers want to travel (domestically for now), eat in restaurant and go to ballgames. Consumers make up 70% of the US economy, so these are good trends. Governments are now reluctant to impose lockdowns (she doesn't see this happening), because vaccines are taming the pandemic. Instead, governments will use vaccine passports, but this will be a catalyst to get people vaccinated. Also, companies are mandating their workers get jabbed, which will also erode vaccine hesitancy. Today we saw low US CPI/inflation numbers, is moderating. Most central banks feel inflation is transitory. It's taking time for supply to return to norm, given ongoing supply shortages. It's important that developing countries get vaxxed, or else shortages will endure.
Unknown
BUY on WEAKNESS
A great company. She's looked at Adobe, but the valuation gives her pause. Their cloud business is strong and they transitioned well to a subscription model. If you own, hold on, or buy on weakness. Their product offering is unique and faces little competition, and their customer base of creative professionals uses Adobe as their go-to.
computer software / processing
PARTIAL BUY
The dollar stores as a whole are suffering from expensive freight costs and supply constraints. DT is introducing products above $1 and have lessened their forecast given higher costs. DT has been rolling out higher price points, which is good, and offering a wider selection in American rural areas. Its 16x forward earnings valuation is far better than Dollarama's 24x forward earnings. Expect higher operating costs for 6 months until the shipping and supply problems are solved.
merchandising / lodging
PARTIAL BUY
She likes their near- and long-term prospects. WSP shares have done well in the past year. They made key acquisitions in the environmental space. Good balance sheet and strong ESG score. She trimmed her position in recent months, but she still likes this. It's a well-run company in a good business.
Business Services