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February 10, 2020
Market. He is attending two conferences in Florida this week. (a) The FX conference and (b) one with keynote speakers by Fed economists. Corona Virus: It is temporary for sure, but this is going to be a lot bigger than SARS was by a long shot. It won't have a long lasting impact. But it will have a more prolonged impact than the SARS issue and probably has some more meaningful economic impact. We saw the German Chancellor's heir apparent step aside. There is more extremism against more globalism and to more nationalism. This is troubling to him. Ultimately he thinks it is another headwind to more global economic growth.
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General Market Comment
February 10, 2020
Market. He is attending two conferences in Florida this week. (a) The FX conference and (b) one with keynote speakers by Fed economists. Corona Virus: It is temporary for sure, but this is going to be a lot bigger than SARS was by a long shot. It won't have a long lasting impact. But it will have a more prolonged impact than the SARS issue and probably has some more meaningful economic impact. We saw the German Chancellor's heir apparent step aside. There is more extremism against more globalism and to more nationalism. This is troubling to him. Ultimately he thinks it is another headwind to more global economic growth.
BUY
BUY
February 10, 2020
Play China? KWEB-N is an ETF whose founders he met with at the ETF conference last week. It plays the Silk Road Initiative. He plays China through the 'A' shares market.
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General Market Comment
February 10, 2020
Play China? KWEB-N is an ETF whose founders he met with at the ETF conference last week. It plays the Silk Road Initiative. He plays China through the 'A' shares market.
DON'T BUY
DON'T BUY
February 10, 2020
Mortgage Insurance Plays. We are late in the cycle but interest rates will likely stay low for a while. He would not go for mortgage insurers at this point but would avoid.
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General Market Comment
February 10, 2020
Mortgage Insurance Plays. We are late in the cycle but interest rates will likely stay low for a while. He would not go for mortgage insurers at this point but would avoid.
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February 10, 2020
Educational Segment. Environmental Social Governance Investing. The environment has been a theme in this day and age. There is a lot of value being created in this sector. EOM-T and CVX-N are the top of his list. SU-T and ENB-T are the better names in Canada.
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General Market Comment
February 10, 2020
Educational Segment. Environmental Social Governance Investing. The environment has been a theme in this day and age. There is a lot of value being created in this sector. EOM-T and CVX-N are the top of his list. SU-T and ENB-T are the better names in Canada.
N/A
N/A
February 10, 2020
Market. 2020 is going on with what happened in 2019. Equities continue to march higher. Rates will remain lower for longer. 2020 is going to be about multiple expansion. This is where infrastructure equities really shine. Digital infrastructure is going to play a much bigger role in the future.
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General Market Comment
February 10, 2020
Market. 2020 is going on with what happened in 2019. Equities continue to march higher. Rates will remain lower for longer. 2020 is going to be about multiple expansion. This is where infrastructure equities really shine. Digital infrastructure is going to play a much bigger role in the future.
COMMENT
COMMENT
February 10, 2020
It's a mania with so much momentum that won't derail money flowing into markets. This includes FOMO and a passive flow of funds, plus the thought that the Fed will save our butts. As for coronavirus, he compares it to the Fukushima nuclear disaster which took a major economy, Japan, off-stream for a quarter. Copper, oil and bonds tell us there's a problem, but not the rest of the market. Over 90% of the market gain last year was due to the higher multiple on stocks (lifted by cheap liquidity), not earnings growth anymore. Looking ahead, we'll have continued low interest rates, though the failed negative rate experiment has failed apart from trapping liquidity. We need basic fundamentals.
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General Market Comment
February 10, 2020
It's a mania with so much momentum that won't derail money flowing into markets. This includes FOMO and a passive flow of funds, plus the thought that the Fed will save our butts. As for coronavirus, he compares it to the Fukushima nuclear disaster which took a major economy, Japan, off-stream for a quarter. Copper, oil and bonds tell us there's a problem, but not the rest of the market. Over 90% of the market gain last year was due to the higher multiple on stocks (lifted by cheap liquidity), not earnings growth anymore. Looking ahead, we'll have continued low interest rates, though the failed negative rate experiment has failed apart from trapping liquidity. We need basic fundamentals.