WEAK BUY
Interesting position, as commodities usually respond positively to inflation. Canadian energy faces a significant discount to get into the US. If peace comes to Ukraine, Canadian energy will fall a lot. WDS wouldn't fall as much, and it's a cheaper opportunity, so it may be a better place to be for a long-term, structural position.
0
WAIT
ZQQ vs. SOXX He doesn't pick ETFs. Mixed messages out of semiconductor industry. Demand issues. Cyclical industry. Trend for semis is degrading, not accelerating. Buying now is a risk. Wait for the semi market to bottom, perhaps in Q4.
E.T.F.'s
WAIT
SOXX vs. ZQQ He doesn't pick ETFs. Mixed messages out of semiconductor industry. Demand issues. Cyclical industry. Trend for semis is degrading, not accelerating. Buying now is a risk. Wait for the semi market to bottom, perhaps in Q4.
E.T.F.'s
COMMENT
Infrastructure stocks. One issue is lots of leverage. Though higher interest rates increase returns, there is a lag, so there may be credit issues with some of the plays. He likes airports and rails. Ports have been mixed. He wouldn't touch shipping right now, but it will be interesting at the bottom of the cycle. He has some exposure, and it could outperform the broader equities. Good, safe category for long-term value creation.
Unknown
PAST TOP PICK
(A Top Pick Jul 26/21, Up 1%) Best of breed reinsurance companies. Buybacks and dividend increase. Conservative risk management. ECB will probably raise interest rates soon, and this will be a positive. Buy and put away for the grandkids. Defensive in this environment.
insurance
PAST TOP PICK
(A Top Pick Jul 26/21, Down 13%) Headwind is the trend away from dairy. Buy when it's on sale and continue to hold. He'd buy for new clients at these levels.
food processing
PAST TOP PICK
(A Top Pick Jul 26/21, Down 3%) Growth opportunities ahead. Cheap capital is still available in Europe, so it will continue to grow. An infrastructure story. Challenged by the macro, as are other companies. You could buy at these levels.
Telecommunications