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He just bought this utility as a defensive play. Trades at 15x earnings while utilities is at 21x. EIX is growing earnings 7-9% and pays a 4% dividend yield. Steady earnings and they can grow at double digits.

Just sold it (down 49% this year). All the catalysts have gone: housing is slowing and rates are rising. He likes the company, but this will be dead money for a while. End demand isn't there.

He bought this, even though it's down over 20% from its 52-week high. Trades at 9x earnings and pays a 5% dividend yield. It's a play on the hybrid work model. Demand is increasing. Used to trade at 16x, so it's now cheap. Has strong earnings power.

DIS reports next week. The theme parks and movies will be strong. Streaming will be interesting. (We didn't get good numbers out of competitor Peacock.) DIS is cheap on a cash flow basis. Worth picking up. A great franchise.

Today's hot jobs report He's now cautiously optimistic. The market was too bearish until this current rally. But now this is stalling before serious resistance levels. The bond market has already priced in the good news, but is starting to pivot. Today's hot employment number changes the outlook over the Fed's rapid accommodation; the Fed doesn't want today's data. There will be ebbs and flows in this bear market bounce and the S&P could rise to 4,300, but at valuation will act as a ceiling. The Fed is still tightening and the economy is slowing.

Oil is back to pre-Ukrainian invasion levels. So, there's no geopolitical risk priced into oil today. Energy is a cheap way to hedge against geopolitcal issues. Supply is constrained. OPEC did a laughable increase this week of only 100,000 barrels (the smallest ever). There are strong outflows from energy ETFs, so people are giving up on energy. He likes energy, especially EOG which reported this week--they are the Apple of this industry. They are not doing what other companies are, which is raising capex to drive production. EOG has better technology which proves they are best in class. They are returning their cash to shareholders with a special $1.50/share dividend. You're getting a 9% yield on this company this year.

Today's strong jobs data He's bullish not because of a perceived US Fed pivot, but because he believes in better-than-expected earnings going forward. He expects a soft landing. Inflation is of course the major headwind, but gasoline futures are off 33% from late June's peak and that has yet to show up at the pumps. Also, shipping rates are going down.

DIS reports next week. He understands why investors are negative here--Disney has to spend on content. But last quarter, DIS had a great subscription add, due to them buying the rights to Indian Premier League Cricket. Disney+ subs continue to go up. Theme parks are doing gangbusters. Dr. Strange is doing fine box office business. Everything is going right for them, certainly more right than wrong. DIS is undervalued.

Today's hot jobs data The data this week has been very encouraging, like factory orders being better than expected and new orders in the ISM report. Inflation is coming down. However, the economy can handle higher interest rates; unemployment is only 3.5%. The Fed didn't pivot--and has no reason to--last month. She's more worried about 2023, because we don't know the effect of all these rate hikes. For now, though, things look pretty okay.

Just reported solid Q2 earnings and the price target rose The stock is down 17% from its high, pays over a 3.5% dividend yield, and trades at 8.5x PE. The quarter was really good. It's interesting that they chose to increase their share buyback than increase production, which fell in that quarter. They're returning cash to shareholders like the other oil companies. She has been adding to energy on this pullback. Oil companies can make money at $40-50 oil/barrel, including Chevron. She expects more returns to shareholders. Oil stocks remain cheap and earnings went up for the group. It's her favourite sector.

She has been adding to energy on this pullback. Oil companies can make money at $40-50 oil/barrel. Oil stocks remain cheap and earnings went up for the group. It's her favourite sector.

Had a good earnings report yesterday, narrowing the range for earnings and total revenue. Companion animal business is up 14% and they have many products in the pipeline.