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Latest Stock Buy or Sell? Make More Informed Decisions!
Today, The Weekly Buzzing Stocks by Billy Kawasaki and Greg Newman commented about whether MFC.TO, BIP.UN.TO, KEY.TO, TOU.TO, EIT.UN.TO, AC.TO, TFII.TO, ABX.TO, CHE.UN.TO, ARX.TO, EIF.TO, WCP.TO, ITP.TO, IFC.TO, TIXT.TO, META, ENB.TO, ARE.TO, SLF.TO, GWO.TO, CPG.TO, F, ATS.TO, MG.TO, GME, TDOC are stocks to buy or sell.
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COMMENT
Fed rate hike yesterday. We're back in the soft landing narrative again. The path that was narrowing is getting a little wider. J Powell soothed investors and said there's no reason to hike us into a recession just to do it. They'll be data dependent. The 2-year bond was 3.15 yesterday and went down about 20 bps, which suggests the bond market believes the Fed will do 25 in September, another 25 after that, and perhaps talk about pausing early next year. Lots of people were sitting out the market, even shorting. Yesterday you saw a reversal as those shorts came off.
COMMENT
The bond market. It all comes back to inflation. If inflation is going to be runaway and uncontained, then fixed income will go up or down, as it depends on interest rates. If people think inflation is under control, or the Fed is going too hard, then interest rates will come down and so will bond yields. Long way between now and when we declare victory. This could be a bullish head fake. If he had to choose, he'd say we probably saw the bottom on June 16. But there are so many cross-currents going on, it's really hard to tell.
COMMENT
Keep traditional 60/40 portfolio for next 3-5 years? Yes. Even if this is a false dawn for equities. Even if, worst-case, there is a recession, it will be a shallow recession. There's already been enough erosion in equities, bonds, high yield, and preferred shares. These are already true levels to be building portfolios. If you can get 5-6% on high-yield bonds, and we're not going to have a nasty recession, or if you can get 4-5% in investment grade, it's a good time to start dipping your toe in. He'd be more of a seller than a buyer.
BUY
Got way overdone and way too cheap. Yesterday, they just blew it away. Feeling inflation, but reiterated full-year outlook. Raised dividend. Extraordinarily cheap, 5.7x 2023, with a 5.6% growth rate. So it sets up very well on price to growth. If we're going straight into a recession, don't buy. But if you think recession 50/50 over the next 2 years, good name to buy now.
Automotive
BUY
Why target debt instead of zero debt? Their target debt was based on $45 WTI, less than half of where oil is now. That would be great for their balance sheet. They also talk about capital returns to shareholders, with theirs being 16% compared to peers at 11%. If oil stays at these levels, CPG is cheaper than the group and is executing well. He's been trading, but would be a net buyer.
oilgas
WEAK BUY
Insurance companies as a group are down 20% YTD, while the TSX is down around 12%. Weaker economy hurts. Question is whether it's overly reflected in the sector? GWO tends to trade at a premium, clean earnings. He'd buy the sector, given the nice dividends and low valuations. Second half won't be as bad as the first. He'd go with MFC, trading at 6.5x earnings. Second choice SLF, third GWO.
insurance
BUY
Insurance companies as a group are down 20% YTD, while the TSX is down around 12%. Weaker economy hurts. Question is whether it's overly reflected in the sector? GWO tends to trade at a premium, clean earnings. He'd buy the sector, given the nice dividends and low valuations. Second half won't be as bad as the first. He'd go with MFC, trading at 6.5x earnings. Second choice SLF, third GWO.
insurance
WEAK BUY
Insurance companies as a group are down 20% YTD, while the TSX is down around 12%. Weaker economy hurts. Question is whether it's overly reflected in the sector? GWO tends to trade at a premium, clean earnings. He'd buy the sector, given the nice dividends and low valuations. Second half won't be as bad as the first. He'd go with MFC, trading at 6.5x earnings. Second choice SLF, third GWO.
insurance
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