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COMMENT
Over the the last few years valuations have been a risk but not now since prices have come off. Depending on price movements over the next while the S&P could have the sharpest sell-off since 1962. Over the last 140 years there have been 20 bear markets and the average length has been 289 days. This would take the S&P from Jan.3/22 to Oct.19/22, the 35th anniversary of Black Monday in 1987 so there could be a bottom in October of this year. Property and casualty Insurance could be a good sector to invest in. Also companies that can appreciate over time and are not too volatile.
Unknown
Unspecified
Ford has a short term focus on the release of the EV F-150 Lightning. He prefers GM since they are building new electric vehicles from the ground up while Ford is retro-fitting an existing vehicle for the EV market. Also GM is planning several EV's at once and has a cheaper valuation.
Automotive
Unspecified
Can't predict where gold goes from here but at least it hasn't really gone down. Equinox will have a more active second half - there was a shortfall in first half production. Two other major gold companies had massive cost overruns which has affected thee price of Equinox. However their budgets were set before inflationary pressures. Equinox set its budget after inflation became an issue so it is standing by its numbers. It is a prove-it-to-me story.
Mining
BUY
Over the last week the oil and gas sector in Canada has dropped by a huge 16% while the U.S. and S&P are down 17% due to indiscriminate selling. Pembina hasn't moved much since early 2020 but its operations and cash flow are doing better Pembina and the smaller mid-streams are less vulnerable to inflation.
pipelines
BUY
It is a great company but has sold off. It is splitting off the asset management side, separating it from the proprietary investment business. A pure play asset management business will be easier to analyze. The asset management business will pay out 90% of profit, making it a good income stock while the proprietary side is going for an annual 15% ROE.
management / diversified
WEAK BUY
It is off a lot but still expensive. It has three main businesses: retail, web services growing at 30% a year, advertising business also growing in double digits. It needs to sort out how to use up its capacity. If buying, just initiate a position.
specialty stores
Unspecified
Its revenue is 100 million which is not large. Still waiting for it to really commercialize. It raised a lot of money at much higher prices so it has good reserves of cash. The fuel cell industry is still developing and the question is can it compete against the electric vehicle system.
misc industrial products