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Today, Ryan Bushell commented about whether WIR.UN-T, PPL-T, CNQ-T, TDG-T, RCI.B-T, EMA-T, WCP-T, AQN-T, BNS-T, IPL-T, BMO-T, TD-T, ENB-T, BIP.UN-T, ALA-T, CNQ-T, BCE-T, NPI-T, VET-T, NFI-T, TD-T, CGX-T are stocks to buy or sell.
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Market. The percentage of IPOs for companies with negative earnings has increased and we are back to year 2000 levels. Unlike the 2008 incident that involved a housing problem with half a dozen states instigating a European banking crisis, this fund has a lot of middle eastern and their sovereign investments and so this could be more reaching than we expect. People are chasing these returns and being forced into riskier investments. He is more conservative for his clients. The more you go into the greed momentum, until that trend breaks it does not change and then there is significant change. At least MSFT-Q has a business.
Unknown
N/A
Unknown
DON'T BUY
Gold. It has put two or three percentage points on the index this year. He has a difficult time with the gold space. The rally leaves him cold. There have not been dividends in the sector and the companies have been terrible allocators of capital in the sector. They are expensive now. He is not about trading them. The investor is in it for the gold trade in most cases. Larger companies have done a better job.
Unknown
HOLD
The stock has come off recently by an extreme amount. The management team has done a great job over a long period of time but he cannot see the same business model and dividend in ten years.
other services
BUY
The Canadian banks have had a great move in the last few weeks. The longer end of the interest curve has steepened in the last few weeks. This is his favorite bank at this time. They have the best franchise. Canadian banks still look relatively attractive even at these levels.
banks
BUY
He started purchasing in April of this year. You have to remember that there is the company and the stock market. It ran it up to $65 last year. Everyone ran to the exit with the 'R' recession word. About $30, it is tremendous value.
Automotive
BUY
They have a high yield and the market punished the stock. They only pay out 2/3'rds of their cash flow. He worries that they might cut the dividend a little at some point, but there is no reason for them to cut it at this point. There will be continued headline risk but they will climb higher over the next few months. You will see a geopolitical risk premium.
oil / gas
BUY
It is one of his largest positions. He has been purchasing. He did not like the transaction. Maybe it brings them some diversification. You have to be worried about what they will pay but it is not big enough to hurt the one way or another. He continues to own.
HOLD
He has been scaling back his position over the last couple of years. He has a hard time buying it for new clients at these levels. It is the unlimited plans. He likes others better at these prices. Wait for a broad market pull back if you want to step into it.
telephone utilities
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Expecting 4% real return on banks, utilities. You want to have a sustainable income stream. These companies are not going away. If you are wrong then you should have some exposure to industrials. But otherwise he agrees with this.
Unknown
PAST TOP PICK
(A Top Pick Sep 26/18, Down 13%) You would have thought this stock would have been up given results so you are getting it on sale. See his Top Picks
oil / gas
PAST TOP PICK
(A Top Pick Sep 26/18, Up 1%) It was up and back. It got completely misunderstood by the marketplace. They were forced by the market to cut the dividend because it was at 15% but they didn’t need to. They are investing in a utility at a great rate of return and you will see it start to seep into the company returns. You should see a dividend increase next year.
oil / gas
PAST TOP PICK
(A Top Pick Sep 26/18, Up 28%) He inherited it from Enercare. He started purchasing the shares in September. They have a unique group of assets. You can't replicate the assets on the infrastructure side. It is pretty rich but you can’t beat it. Buy it on weakness. We have seen a flock back to these infrastructure assets this year.
Energy Infrastructure, Industrials & Utilities
HOLD
A declining interest rate environment is good for them. The dividend will continue to grow. They have issues on line 3 and 5. If line 5 is shut down then we can't get oil to the US to go east and west. They are in the process of cleaning up their corporate structure from a balance sheet perspective. He thinks it will go higher and continue to thrive.
oil / gas pipelines
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