Today, Lorne Steinberg commented about whether TTNDY-OTC, BDX-N, ADBE-Q, TSM-N, BMY-N, BNS-T, MDLZ-Q, BTE-T, CNR-T, JNJ-N, T-T, TA-T, ING-N, CVS-N, ALL-N, BCE-T, ASML-Q, NVO-N, TSLA-Q, BTO-T, MS-N, JPM-N, GS-N, VTRS-Q, GT-Q are stocks to buy or sell.
The question was on his preference of this group of wealth management companies. He owns all three for different reasons. The possible lack of regulation under the new administration has already boosted them. They are in excellent financial shape and have good dividend growth. It is not an expensive sector.
There are potential substantial tariffs on China under the new administration but he is not convinced they will carry through with them. Tariffs on China would not be good for Tesla because China would retaliate and a lot of Tesla's products are made there. Also every major car company has a slew of EV's so Tesla should trade closer to these companies, which are not great investments in themselves.
The question was on what stocks to buy and hold for an initial investment of $10 000 for a 23 year old. He would invest in a Canadian fund which would be diversified in a number of high quality businesses - don't try to buy three stocks. You can balance things out over time. Do not hedge with a U.S. index or U.S. stocks. An example given was ZSP which is not hedged and trades in Canada.
It is in the medical devices and pharma spaces and has spun off the consumer care division. The overhang is the talcum powder litigation. He hopes it will be settled before too long and then investors can concentrate on the growth aspect of the stock. It has set aside 8 to 10 billion dollars for a settlement.
The question was on his preference of this group of wealth management companies. He owns all three for different reasons. The possible lack of regulation under the new administration has already boosted them. They are in excellent financial shape and have good dividend growth. It is not an expensive sector.