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COMMENT
We're four months into a bear market. US Fed increases are widely expected, so let them happen. Inflation is approaching a peak and the rate of inflation will decrease. Companies that are still growing at the FAANG stocks, not slowing down, generating a lot of free cash and buying back stock. Also, consumer stocks with strong brands, like Pepsi and Frito-Lay, have pricing power. Witness the Loblaw-Frito Lay war earlier this year. He's watching these sectors.
Unknown
BUY on WEAKNESS
uranium stocks outlook Nuclear power is one of the few ways of solving the need for non-fossil fuel energy, but these plants need 10-15 years to build. Plants in China and the Middle East are in progress. Buy this below $30 and hold 10 years. It moves over a long period of time. He targets $50-60 in 3-5 years. Could be volatile short term.
integrated mines
BUY
He's under water this, but Uber will benefit when there's more re-opening. Likes how they're merging gradually with the taxi industry. Their valuation is high, but the app is very good and he sees a return to being a favoured growth stock.
Technology
BUY
A big holding for him, though he sold some in the high-$50s. Great to hold 5-10 years as they expand across North America. Fine to buy here, but wait for their earnings call to see how inflation effects it.
specialty stores
HOLD
They make chips that fit into many applications, like cars. Their 12-month outlook remains pretty good, but worries that microchips are cyclical. So, 12-24 months demand for chips could decline. This is okay for the next 6 months if you already hold, but wouldn't buy more now. He's slightly down on this name, but is confident this will return to new highs.
0
BUY
Typical of western Canadian companies; a go-to when oil prices rise. He's surprised oil isn't higher given the European situation, but he expects higher prices this year as reopenings spread. Driving season will be strong this year as people travel. All energy remains a good bet, at least short term. Oil has a good, long-term cycle.
oil / gas
HOLD
Fleet renewal is an issue, but as people return to offices, this will improve. Also is concerned about their debt levels. Hold it through the reopening to see what happens.
Automotive