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COMMENT
What's catching your attention? Inflation numbers. Happy with the numbers today. He thinks inflation peaked in Q2. Today's number confirms that, though there's still more to go. So much will be driven by energy prices, which are hard to forecast. He'd like to see them stay low for a while in terms of the inflation outlook, as that would be really bullish for the market overall.
COMMENT
Supply shortages persist? Yes, but we hit peak shortage in Q1. Semiconductor situation is looking better as we move through the year. Commodity prices have fallen back, perhaps as fear of shortages and political risk dial down. In the auto sector, one of his holdings, LNR, reports tonight, and he expects encouraging news on the supply front that will drive new auto production in the back half of the year. All that will help with shortages going forward.
COMMENT
Focus for an income portfolio? High-yielding opportunities, mostly focused on the Canadian market. There are lots of great small- and mid- cap, Canadian companies yielding 5-6%. Some of those are in energy, like ENB or WCP. Even in financials, POW or BNS, their 5+% dividend yields are attractive given the market.
BUY
MFC is still dealing with fallouts from financial crisis. It's all about getting back to that growth phase. Asian business is still tough. You can buy it here, and share price will slowly creep up over time as it invests in core businesses. Yield is 5.5%.
Jamie Murray Owned
insurance
WEAK BUY
Great company. Leader in rail ties and utility poles. It's about finding the sweet spot of prices for products being down, but demand is high. Perhaps a good time to get in with inflation peaking. He'd look at other names.
Jamie Murray No
misc industrial products
DON'T BUY
Any fear of delisting? China probably the largest EV market in the world. Makes a lower-cost EV model. Risk with China has increased, given Taiwan situation. Problems with Chinese regulators. He plays where rule of law is more transparent.
Jamie Murray No
Automotive
BUY
Near-term noise from Dutch regulators about new rent controls to combat inflation. Could affect 5-10% of their units. Operates well, conservative balance sheet, European interest rates still low. Good growth. Dividend should tick up as cashflow grows. Buy on this pullback.
Jamie Murray Owned
0
WEAK BUY
Royalty structure. Good exposure to natural gas production in western Canada. Benefits from phenomenal TOU management. Just buy TOU instead for long-term growth for the next couple of years, unless you want the dividend that TPZ provides. Both should do well. He owns CNQ and WCP instead.
Jamie Murray No
0
BUY
Buy for long-term growth for the next couple of years, unless you want the dividend that TPZ provides. Both should do well. He owns CNQ and WCP instead.
Jamie Murray No
oilgas
DON'T BUY
Restructured, cut dividend. He's not looking at it now. Thinks dividend is safe. Price is getting attractive. Hasn't executed well enough for him. He owns, and prefers, CMCSA. CMCSA has better risk/reward, with upside when cable installs return, a better way to play US telecom.
Jamie Murray No
Telecommunications
BUY
He prefers CMCSA to AT&T. CMCSA has better risk/reward, with upside when cable installs return, a better way to play US telecom.
Jamie Murray Owned
Cable
PAST TOP PICK
(A Top Pick Oct 25/21, Down 66%) War in Ukraine, surging electricity costs, depreciation in Euro, low consumer confidence. Mismanaged inventory. He made a mistake in timing. Starting to tick back up. Company sees growth in back half of the year. Doing more service-based work, with higher margins. Growth could drive earnings a lot higher in 5-10 years.
Jamie Murray Owned
0
PAST TOP PICK
(A Top Pick Oct 25/21, Up 61%) Reached target price, so he exited. With broad market selloff, he saw better opportunities. Company will still pursue turnaround from product price increases.
Jamie Murray No
merchandisinglodging
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