Today, Greg Newman and The Panic-Proof Portfolio (Stockchase Research) commented about whether DOO-T, OTEX-T, RCI.B-T, IFC-T, POW-T, C-N, HBM-T, ADBE-Q, CP-T, CNR-T, ATD-T, CNR-T, MG-T, LNR-T, CAE-T, BBD.B-T, NTR-T, PKI-T, GRT.UN-T, WFG-T, BCE-T, ARX-T, NPI-T, TVE-T, WCP-T, VRN-T, FCX-N, RCI.B-T, BIP.UN-T, C-N, JPM-N, AAV-T, ARX-T, T-T, TRP-T, PPL-T, KEY-T, ENB-T, NVDA-Q, GEI-T, ALA-T, UBER-N, BMO-T, WFC-N, C-N, TD-T are stocks to buy or sell.
He's trying to play a quiet offence when he's a bit scared of the markets and tariffs. Cheap, tethered, and insulated. Financials really get a bid from Trump -- tax cuts, less regulation, lots more M&A. Yield curve looking a lot better, upward sloping. Beat Q4, earnings up 40%. Investment banking and market revenue also up. Company's expecting ROE to improve to 10-11% in 2026. Trades under 9x. Very favourable risk/reward. Yield is 2.7%, decent.
Reducing global presence by exiting unprofitable businesses is really helping earnings by lowering costs.
He's a real chicken, and looking for stocks that won't hurt too much if tariffs go the wrong way. Life insurance is fairly insulated. Won out as his pick compared to MFC. Cheap at 8.6x 2025, growing 6-7%. Market thinks growth will be 12% next year. A win-by-not-losing choice. Yield is 5.5%.
Owns Mackenzie Investors Group, GWO. Investments in names like Wealthsimple and asset management. Alternative lending business. Many different ways to surface value.
Somewhat sheltered from macro noise and tariffs. Big beneficiary of AI, right now, in underwriting and efficiencies. Great ROE of 16%, even with severe weather and elevated losses in the last year. Quality name, great compounder.
Can really start to surface value with RSA acquisition in UK. Trades at 14.7x on 2026 earnings, growing at 12.6% -- a bit over 1 on PEG, but you get there if you add the dividend. Yield is 1.9%.
Tough to answer whether to buy. Impressive beat last quarter, much stronger outlook, markedly higher output in Manitoba, affirmed production guidance, positive free cashflow for 5th consecutive quarter. Nice growth. Not pricey at 18.5x 2025 earnings.
Depends on your view of copper. If you think it's going higher (partly due to Trump and partly to lackluster China), then the better view is yes, buy. He's a copper bull over time.