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COMMENT
Investment strategy with the Liberal win. Fed politics in Canada doesn't move the investment needle all that much. The real focus is the Fed, inflation, the debt ceiling, valuations, and more recently what's happening in Beijing.
Unknown
COMMENT
Potential taxation on Canadian banks. They're looking for revenue. This is one way to start. There's a view they could be put on the naughty list. The banks always have some headwinds. Dividends are fabulous. Valuations are still below the norm, though a bit higher than they've been. There are catalysts for them. It's good that there's some antagonism toward the sector. It might come down a bit, but the banks are still long-term wealth builders.
Unknown
COMMENT
Energy stocks. Not overweighting them. It will take 30-40 years to wind down. Manipulated globally with Saudis and Russia. The supply/demand picture looks good right now for nat gas. He favours companies that tilt toward nat gas and they're still very cheap, underappreciated, and underowned. Some of the oil companies fit that description too, though he's a little less certain about the price of crude. Oil seems to have found its footing around $60-80, and there are some good names in oil land as well.
Unknown
BUY
Good momentum in volume and pricing. Putting more capital to work in insurance, a real driver. What would move the needle is a breakout in their underlying investment portfolio of value investments. Stock is underappreciated and very cheap at 8x 2022 earnings, 80% book value. You can buy it here.
insurance
RISKY BUY
Investors have had an aversion to this name for a long time. A few good quarters and free cashflow. Lots of demand for their product. Stock is ahead of itself at 12x vs. 10x for peers. Very loaded balance sheet. A whippy name. If it moves down to $1.20-1.30, might be worth putting some risk capital to work.
transportation equip & components
BUY
Trading below peers at 4.4x. Balance sheet has turned around remarkably. Has some production growth, and good cashflow per share growth. Good dividend that pays while you wait. Magic here is oil prices. If oil prices are benign, investors will get more comfortable with the name.
oil / gas
BUY on WEAKNESS
Very cheap compared to peers. Challenge now is national expansion clarity. A cosy little monopoly in Quebec, but how will they compete against the big boys? Company wants to return capital to shareholders, which means share buybacks and dividend increases. You can buy a bit if it gets to $29-30, but don't expect it to do the heavy lifting in your portfolio.
publishing / printing