Today, John Zechner and Bill Baruch, Founder, Blue Line Capital commented about whether CRWD-Q, ARX-T, BMO-T, TECK.B-T are stocks to buy or sell.
Picking away at this name. Missed 2 quarters, increased loan loss provisions, and he expects this to continue for a couple more quarters. Short-term risk is that capital markets aren't as big in Canada as in the US. Concerns about Bank of the West acquisition timing, regional bank issues.
Those concerns are priced in. Coming through that, valuation now more attractive, good dividend while you wait. Getting to the point where earnings should turn up in the next year or so.
It's a disaster, but he appreciates their transparency. We will see another outage down the road by another company. There could be claims, but he sees today's pullback as a buying opportunity. He's watching $270 as support. He doubts there will be government intervention. The outage could trigger even more spending in cybersecurity.
Believes crude oil prices will remain high throughout 2024. Under investment in energy development will ensure relatively high oil prices. Energy stocks are the cheapest they have been in recorded history. Is bullish on Canadian oil and gas sector. Gold prices have recently pulled back, and is a good time to buy. Any time investors have ability, it is a good time to buy gold. Physical gold is a very good hedge against inflation. Gold equities should close the cap between physical assets prices, and stock market valuations. Believes owning physical gold trusts is a good option for investors - don't have to physically own it "in person".
Not necessarily. All copper stocks have been under pressure, due to copper getting ahead of itself to over $5/pound. Shanghai inventories going higher, sector had a lot of speculative plays. Copper is still a good story. TECK story looks fantastic, now purely positioned as a copper/zinc player, which puts it more in the global arena. Generating cash.