Latest Stock Buy or Sell? Make More Informed Decisions!
Today, Larry Berman CFA, CMT, CTA and Stockchase Insights commented about whether TOI.V, GDI.TO, DSG.TO are stocks to buy or sell.
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COMMENT
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Debt Can Kill a Company. Endo International PLC filed for bankruptcy protection this week. This is the company that took over Canada’s Paladin Labs Inc. about a decade ago. Endo shares are down 91 per cent this year. The problem? Very high debt. Endo has US$8 billion in debt after a large acquisition spree. Cash flow in the past 12 months? Just US$80 million. It paid US$560 million in interest charges in the past 12 months. The lesson here: Debt can kill a company, sometimes quickly. Make sure the companies you own can service their debt. Times are not always great, and a company must be able to survive before it can prosper.
COMMENT
Regarding the latest news concerning the Bank of Nova Scotia, it is unusual to see an external hire of a CEO in the banking space. Overall it is a tricky market. It had rallied off the June lows but the Fed has declared that it is going to keep raising rates and will do so for longer than anticipated. Investors are concerned that this is a mistake and will lead to a hard landing. He uses stop losses on all positions and has built up a sizeable cash position.
COMMENT
The question included big name tech stocks in general. They have had tailwinds of falling interest rates for 40 years and investors have been overloaded in them. Tech stocks have under-performed since the beginning of the year. Multiples are coming down. Be careful with stocks trading sideways so be careful with companies such as Shopify. Even though it is a great company it is trading at 137X next year's earnings.
computer softwareprocessing
COMMENT
The question was on averaging down on dividend paying ETF's. The answer is no - there are 60 000 securities across the globe to choose from and he only needs 20 to 40 in the portfolio. A stock can be down for a long time. You want to see the technical situation improve both for the market and specific company. Ideally the 200 day moving average should be rising and the stock should be trading above it. Even better if the same is happening with the 50 day moving average. Look at companies in an uptrend.
PAST TOP PICK
(A Top Pick Sep 23/21, Down 46%) It is a regional bank in the business of banking technology companies i.e. providing loans or funding them. It often gets warrants as part of the fees for these loans. However these early stage, unprofitable tech companies have rolled over and the prices are still coming down. He got out with a stop loss.
PAST TOP PICK
(A Top Pick Sep 23/21, Up 80%) It is still trading above its 150 and 200 day moving averages. It consolidated successfully between 2014 and 2020. He has trimmed a bit but it is still a big holding
David BurrowsOwned
oilgas
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