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COMMENT
Gold and oil outlook in Canada No idea where either is going. But doesn't see sustained long-term upside or downside. A company can be the best-run oil company, but they don't control the price of what they sell. We are in an economic slowdown, so oil won't fare well. If the Russian war is resolved, oil prices will fall. To own only oil and gold is risky.
DON'T BUY
Is watching it. Problem is that he doesn't like retail, which is an expensive business. But ATZ has some of the highest revenues per square footage and have been successful for a long time. Is confident in the new CEO. If share price fell to $15-19, then maybe. A quality company, but still doesn't make the cut for him.
specialty stores
DON'T BUY
Owns Meta and MSFT instead among FAANG. Meta trades at 12x, so he recently added more. Meta is a hated company, but look long-term. MSFT is a very strong business. Apple has some hit or miss risk when they bring new products to market. Certainly is a cash cow. A strong company. Tough to grow a company this massive.
electrical
electronic
DON'T BUY
Like Canadian banks, the telcos are a cartel. There should be more telcos for competition which would benefit Canadians. Telcos won't grow much more than overall GDP. The price of data is slowly coming down. They have excess cash flow which they mostly pay in dividends. Growth is 5-10% like a bond. Neither wonderful nor terrible investments. Not for him.
telephone utilities
TOP PICK
Is run by the founder who owns 40% of shares. Based on Egypt with operations in Jordan and parts of Africa. It trades at 5x earnings and pays a 15% dividend. Has been adding to it. Only a 3% weight in his portfolio given its geopolitical and currency risk. Generates strong returns and is expanding. (Analysts’ price target is $1.48)
Healthcare
TOP PICK
price target 1563.73 SEK Operates online casinos which became popular during Covid. The founder still runs the company. EVO is clearly the market leader. Recently added in the low-$900s. More US states are legalize online gambling. Their returns and growth rank highly. Trades at 28x PE.
Consumer Products
TOP PICK
You seldom buy shares in a company below fair market value unless there's a short-term glitch. Meta is seeing several glitches at once. Yet, it owns 4 of the top 6 social media platforms and have around 3 billion daily/monthly users, which is plateuing but still increasing. Around 40% of the planet uses their platforms daily. Huge cash flow which keeps growing. Has no debt. High margins. Trades at only 12x earnings. The narrative around Meta is poor now, but this opens a buying opportunity. Meta is buying back a lot of shares these days. (Analysts’ price target is $272.89)
Technology
