Latest Stock Buy or Sell? Make More Informed Decisions!
Today, The Weekly Buzzing Stocks by Billy Kawasaki and Barry Schwartz commented about whether AMZN-Q, DPZ-N, CCL.B-T, META-Q, MSFT-Q, DFY-T, SYK-N, NA-T, CWB-T, SHOP-T, TD-T, SCHW-N, TOU-T, LYV-N, BRK.B-N, CSU-T, AAPL-Q, GOOG-Q, NFLX-Q, MG-T, RACE-N, CNQ-T, CP-T, CNR-T, TFII-T, GRT.UN-T, RY-T, MU-Q, GM-N, TSM-N are stocks to buy or sell.
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Bit of a pullback last couple of days in the NASDAQ, but no one can really complain, as it's gone parabolic the last 19 months. Market now is just reacting to the fact that the NASDAQ went straight up, plus rumours and news coming out every day about the US election.
The bottom line for him is strong earnings, interest rates probably coming down, and inflation looking like it's been tamed. All good ingredients for a strong market for the rest of the year.
He's thinking that it's clear that interest rates are going to be cut across the globe. US has not started to cut yet. No one expects the Fed to cut in July, though that could happen. Expects interest rates to be cut in Canada, and for many months to come.
Canada's rate could come down by 1.5% over the next 12-18 months. So when your GIC at 5% comes due, you're not going to get 5% anymore. So he expects that money to flow to markets and other risk assets. If you're only getting 3.5-3.75% on your bond or GIC, that's not so attractive after fees, taxes and inflation.
Finally showing some life. Yesterday, it might have been up double digits for the year, seeing a bit of pullback today. Oil prices have remained strong, gold has ticked up with uncertainties. RY is at an all-time high. NA has recovered from worries about the CWB acquisition. Not too much to worry about in Canada.
Everyone's hoping that, as interest rates get cut, some of the dividend stalwarts will be back in favour. Of course, the Canadian market is filled with a lot of Canadian dividend stocks.
Is it playing catchup? He doesn't know. It's not as good an index as the S&P 500, because companies in the TSX are not as good businesses. But there are always going to be sectors and factors that can push the TSX index up. It's underperformed for many years, so maybe it'll have its day.
In his opinion, financials are rallying because inflation has come down, interest rates will be cut, and that's going to be a big relief for the Canadian economy. There will be fewer worries about bankruptcies, or mortgages coming due that have to be renewed at higher interest rates. Optically, that's bad for some of the banks' net income, but it's terrific for confidence, more lending, and business activity in Canada.
People were pricing in a pretty nasty recession, and that's reversing, so the banks are recovering.
Have seen a recovery in shares in last few weeks, as bond proxies usually go up when interest rates go down. Expectation is for multiple rate cuts in Canada. That will improve balance sheet, but doesn't improve the business on a dime. Still getting good uplifts on new rental agreements signed at higher prices.
In NA, we're struggling with an over-supply of industrial real estate. Have to work through it. One of the best-managed REITs in Canada. Likes the industrial sector, not going anywhere anytime soon. But you have to have confidence that interest rates are going to come down materially from here.
Up 17% YTD, so not much of a pullback. On a YTD basis, outperforming the railroads. He likes both those businesses. Canada has good geography for trucking and infrastructure. TFII is a great acquirer and integrator of other companies. Rumours that UPS wants to unload less-than-truckload; perhaps TFII could bid for it. Balance sheet in great shape, more acquisitions to come.
CNR is the laggard. CP is doing nicely. He still regrets not switching from CNR to CP.
TFII is up 17% YTD, so not much of a pullback. On a YTD basis, outperforming the railroads. He likes both those businesses. Canada has good geography for trucking and infrastructure.
CNR is the laggard. CP is doing nicely. He still regrets not switching from CNR to CP.
TFII is up 17% YTD, so not much of a pullback. On a YTD basis, outperforming the railroads. He likes both those businesses. Canada has good geography for trucking and infrastructure.
CNR is the laggard. CP is doing nicely. He still regrets not switching from CNR to CP.
In the short term, one stock will lead and one will lag. It's not something he really focuses on because he's a long-term holder, not a trader. Great assets with long-term life, wall of free cashflow, incredible management, and Murray Edwards still owns a gigantic stake in the company.
Sees many more years of share buybacks and growing production. Gushing money right now, so share buybacks make a lot of sense, especially if production is going to grow over the long term.
Wildcard is oil and natural gas prices. Oil above $80 or even $70 is very profitable for CNQ. Stock's run up a lot, so perhaps investors are rotating into cheaper alternatives. Yield is 4+%.
It depends whether the shares are purchased by the company at a reasonable valuation, or whether they're overpaying to boost EPS in the short term. A company like CNQ, for example, has a very good track record of buying back its stock at fair prices.
Doesn't love share buybacks in very cyclical businesses. MG, for example, bought back a huge number of shares at a much higher price, and it's probably regretting that now.
Still likes it, and would buy at this price, though of course he prefers pullbacks on some temporary issue. Buying for new clients. Sees it adding new cars and new lines each year. Adding customization and special incentives, growing margins. Valuation is not cheap, but if it were cheap it would be called Ford and you wouldn't want to own it.
Not a lot of exposure to China, so not seeing the same pullback as in other luxury names.
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