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March 23, 2020
[Berman's call was pre-empted this morning by the Prime Minister's COVID-19 update. However he appeared for half of the Commodities show after his show would have aired. An Announcement said that he would be appearing regularly on the Thursday Market Call show at 12:00 EDT on Thursdays for a full hour.]
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[Berman's call was pre-empted this morning by the Prime Minister's COVID-19 update. However he appeared for half of the Commodities show after his show would have aired. An Announcement said that he would be appearing regularly on the Thursday Market Call show at 12:00 EDT on Thursdays for a full hour.]
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March 23, 2020
Essentially the Fed today announced that they had created an unlimited amount of money to backstop financial markets. They are buying everything from investment-grade ETFs to the bottom of the investment grade investment spectrum. There is a hope that the triple B investment credit does not slip. This is a very inflationary policy and is very bullish for gold. The playbook from 2003 for this market is playing out perfectly. We removed the froth from the market. We are in the phase after 2009 where it took 2 to 4 years to see them get the recovery of the multiples and earnings. At some point we are going to see tremendous value develop in the S&P and global markets. Pull-backs in gold and gold equities are just opportunities to get on board. Crude oil bounced around the $20 area and could go to $15. It might take a month or two to shake this out. Buying oil here is a no-brainer. Don’t go to the speculative names. Stick with those with better balance sheets.
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Essentially the Fed today announced that they had created an unlimited amount of money to backstop financial markets. They are buying everything from investment-grade ETFs to the bottom of the investment grade investment spectrum. There is a hope that the triple B investment credit does not slip. This is a very inflationary policy and is very bullish for gold. The playbook from 2003 for this market is playing out perfectly. We removed the froth from the market. We are in the phase after 2009 where it took 2 to 4 years to see them get the recovery of the multiples and earnings. At some point we are going to see tremendous value develop in the S&P and global markets. Pull-backs in gold and gold equities are just opportunities to get on board. Crude oil bounced around the $20 area and could go to $15. It might take a month or two to shake this out. Buying oil here is a no-brainer. Don’t go to the speculative names. Stick with those with better balance sheets.
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March 23, 2020
Market. He is surprised the market is not moving about 1000 points up due to the fed's morning announcement. But it may be that the congress has not got its act together to pass its bill on the fiscal stimulus. It is more important to prop up the credit markets than the stock markets. The extent that people are stuck in their homes are practicing social distancing, that is also an impediment to economic activities. It is important to put money into people's pockets so they are spending even though they are not working so the economy does not go into a real nose dive. We are seeing a lot of panic in the market. Sound businesses without too much debt are going to come back. Speculative stocks that never had profits that maybe have unsound balance sheets and not a lot to rely on, you may have a serious problem with them. You are seeing unrealistic prices here on good companies.
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Market. He is surprised the market is not moving about 1000 points up due to the fed's morning announcement. But it may be that the congress has not got its act together to pass its bill on the fiscal stimulus. It is more important to prop up the credit markets than the stock markets. The extent that people are stuck in their homes are practicing social distancing, that is also an impediment to economic activities. It is important to put money into people's pockets so they are spending even though they are not working so the economy does not go into a real nose dive. We are seeing a lot of panic in the market. Sound businesses without too much debt are going to come back. Speculative stocks that never had profits that maybe have unsound balance sheets and not a lot to rely on, you may have a serious problem with them. You are seeing unrealistic prices here on good companies.
DON'T BUY
DON'T BUY
March 23, 2020
Borrow Funds now to increase Equity in an RRSP? He is never in favour of leverage. The last three weeks are his reason why. Some stocks fell extra quickly because shareholders had margin calls and had to sell. Buy stocks in your RRSP now that prices are down but don't borrow money to do it.
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Borrow Funds now to increase Equity in an RRSP? He is never in favour of leverage. The last three weeks are his reason why. Some stocks fell extra quickly because shareholders had margin calls and had to sell. Buy stocks in your RRSP now that prices are down but don't borrow money to do it.
COMMENT
COMMENT
March 23, 2020
If REITs are interest sensitive securities, shouldn't they be going up, rather than down? Yes, if you believe their tenants can pay the rent. It seems some think they will not be able to pay their rent – even in apartment REITs, which is absolutely dumb.
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If REITs are interest sensitive securities, shouldn't they be going up, rather than down? Yes, if you believe their tenants can pay the rent. It seems some think they will not be able to pay their rent – even in apartment REITs, which is absolutely dumb.
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March 23, 2020
US$ - when to convert to CAD$? Currencies are difficult to forecast. A lot of traders view the CAD$ as commodity driven. The CAD$ is not viewed as a safe haven currency. Based on the cost of a basket of groceries, the Canadian dollar is worth $0.82 US, vs. the exchange rate of $0.68, so you should convert them now.
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US$ - when to convert to CAD$? Currencies are difficult to forecast. A lot of traders view the CAD$ as commodity driven. The CAD$ is not viewed as a safe haven currency. Based on the cost of a basket of groceries, the Canadian dollar is worth $0.82 US, vs. the exchange rate of $0.68, so you should convert them now.