Recent Opinions | StockChase

Opinions Table


Signal Opinion Expert
PAST TOP PICK

(A Top Pick Jul 7/17, Up 37%)  He is going to roll this to Top Picks again.  New management came in and they took a lot of mortgage risk.  They wound that down so it is a non-issue now.  That was the prohibitive factor for a take-out.  They are now very cash generative and are buying back shares.

investment companies/funds

(A Top Pick Jul 7/17, Up 37%)  He is going to roll this to Top Picks again.  New management came in and they took a lot of mortgage risk.  They wound that down so it is a non-issue now.  That was the prohibitive factor for a take-out.  They are now very cash generative and are buying back shares.

investment companies/funds
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$52.960
Owned Owned
Yes

TOP PICK

A 25 basis point hike raises revenue $60 Million for the year.  Every little incremental hike makes a big difference.  It is 10% accretive to earnings.  (Analysts’ target: $58.00).

investment companies/funds

A 25 basis point hike raises revenue $60 Million for the year.  Every little incremental hike makes a big difference.  It is 10% accretive to earnings.  (Analysts’ target: $58.00).

investment companies/funds
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$52.960
Owned Owned
Yes

PAST TOP PICK
FedEx(FDX-N) 

January 11, 2018

(A Top Pick Jul 7/17, Up 24%)  Consumer spending growth has been an absolute hero.  The company is being operated well.  Management is following through so you should stick with this.  He likes logistics.

Transportation

(A Top Pick Jul 7/17, Up 24%)  Consumer spending growth has been an absolute hero.  The company is being operated well.  Management is following through so you should stick with this.  He likes logistics.

Transportation
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$271.190
Owned Owned
Yes

COMMENT
Fortis Inc.(FTS-T) 

January 11, 2018

The problem he has with utilities is that they are making acquisitions for growth, not organically. That is the 1st of a red flag. Interest rates are rising. This company's dividends have been going up roughly 7%. The company has been moving into the US so there are some currency issues. If you go with this, don’t make it a large holding.

electrical utilities

The problem he has with utilities is that they are making acquisitions for growth, not organically. That is the 1st of a red flag. Interest rates are rising. This company's dividends have been going up roughly 7%. The company has been moving into the US so there are some currency issues. If you go with this, don’t make it a large holding.

electrical utilities
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$43.850
Owned Owned
Unknown

DON'T BUY
Gilead Sciences Inc.(GILD-Q) 

January 11, 2018

They had a great pop.  He stepped out of Biotech and healthcare as a sector went to a neutral.  He is more cautious on this as the entry gets higher.

biotechnology/pharmaceutical

They had a great pop.  He stepped out of Biotech and healthcare as a sector went to a neutral.  He is more cautious on this as the entry gets higher.

biotechnology/pharmaceutical
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$79.060
Owned Owned
Unknown

COMMENT
ICICI Bank Ltd.(IBN-N) 

January 11, 2018

There are 2 really good banks in India, this and HDFC. India has a lot of government fiscal policy change right now, and GST has been added so they can get their revenues up and be able to start to spend on infrastructure. Unlike this bank, HDFC Bank is more of a development bank, and have been able to grow their dividends at a much faster rate. He chose HDFC for his holdings for the future.

banks

There are 2 really good banks in India, this and HDFC. India has a lot of government fiscal policy change right now, and GST has been added so they can get their revenues up and be able to start to spend on infrastructure. Unlike this bank, HDFC Bank is more of a development bank, and have been able to grow their dividends at a much faster rate. He chose HDFC for his holdings for the future.

banks
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$9.760
Owned Owned
No

PAST TOP PICK

(A Top Pick Jul 7/17, Up 10%)  He likes it from a timing perspective but there are other opportunities out there.  There is lots of tailwind, however. 

E.T.F.'s

(A Top Pick Jul 7/17, Up 10%)  He likes it from a timing perspective but there are other opportunities out there.  There is lots of tailwind, however. 

E.T.F.'s
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$183.310
Owned Owned
Yes

TOP PICK
Jardine Matheson(JM-SP) 

January 11, 2018

There are 2 big conglomerates in south east Asia, and this is an easy way for Canadian investors to have access to the south-east market with a big conglomerate. The stock has done nothing for the last 5 years, because of the rise in the US$. They report their numbers in US$, but currencies in Indonesia, China, etc. have been falling, so they’ve been hurt. This has a clean balance sheet and they can make acquisitions. 10-year dividend growth rate has been 15%. Dividend yield of 2.5%. (Analysts' price target is $67.)

There are 2 big conglomerates in south east Asia, and this is an easy way for Canadian investors to have access to the south-east market with a big conglomerate. The stock has done nothing for the last 5 years, because of the rise in the US$. They report their numbers in US$, but currencies in Indonesia, China, etc. have been falling, so they’ve been hurt. This has a clean balance sheet and they can make acquisitions. 10-year dividend growth rate has been 15%. Dividend yield of 2.5%. (Analysts' price target is $67.)

0
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$0.010
Owned Owned
Yes

BUY
Kelly Services Inc.(KELYA-Q) 

January 11, 2018

The US labour market is very tight.  Any number of measures suggest this.  You are seeing this work through into modest wage appreciation very slowly.  With synchronized global growth compounded with reduced cap-x and fixed asset investment, he sees very high profit margins and a move away from labour and into technology investment.  This is all good for this company.  People watch it with regards to tightness of the labour market.  He thinks investing in the labour market is appropriate.

The US labour market is very tight.  Any number of measures suggest this.  You are seeing this work through into modest wage appreciation very slowly.  With synchronized global growth compounded with reduced cap-x and fixed asset investment, he sees very high profit margins and a move away from labour and into technology investment.  This is all good for this company.  People watch it with regards to tightness of the labour market.  He thinks investing in the labour market is appropriate.

0
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$28.430
Owned Owned
Unknown

DON'T BUY
Kinder Morgan Inc.(KMI-N) 

January 11, 2018

He went more positive back in the fall on energy.  He is comfortable being out of Canada in energy.  This is a good time to build a position in energy but this is not where you get the bang.  Your opportunity cost will be significant.  He likes XLE-N, the ETF.  Or XOP-N is more E & P.

pipelines

He went more positive back in the fall on energy.  He is comfortable being out of Canada in energy.  This is a good time to build a position in energy but this is not where you get the bang.  Your opportunity cost will be significant.  He likes XLE-N, the ETF.  Or XOP-N is more E & P.

pipelines
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$19.200
Owned Owned
No

TOP PICK
Lindsay Corp.(LNN-N) 

January 11, 2018

His resource of choice is water and wastewater. This company is into irrigation equipment. They've been able to advance, through technology, to have satellite shots of irrigation equipment so it can be controlled anywhere on the farm. 60% of sales are in the US and 40% is international, particularly in Brazil. Dividend yield of 1.4%. (Analysts price target is $83.)

machinery

His resource of choice is water and wastewater. This company is into irrigation equipment. They've been able to advance, through technology, to have satellite shots of irrigation equipment so it can be controlled anywhere on the farm. 60% of sales are in the US and 40% is international, particularly in Brazil. Dividend yield of 1.4%. (Analysts price target is $83.)

machinery
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$92.130
Owned Owned
Yes

COMMENT
Lloyds TSB Group PLC(LYG-N) 

January 11, 2018

This was up 10% last year, which wasn't as great as a lot of the European banks. The biggest problem in Europe is that they have ultra low rates and are just starting to think about getting rid quantitative easing. Until interest rates and inflation start to rise in Europe, you are going to get stickiness out of European banks and their growth rates. This bank just started to initiate a dividend again, which they haven't paid for 6 years.

banks

This was up 10% last year, which wasn't as great as a lot of the European banks. The biggest problem in Europe is that they have ultra low rates and are just starting to think about getting rid quantitative easing. Until interest rates and inflation start to rise in Europe, you are going to get stickiness out of European banks and their growth rates. This bank just started to initiate a dividend again, which they haven't paid for 6 years.

banks
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$3.870
Owned Owned
No

BUY
McDonalds(MCD-N) 

January 11, 2018

He likes it a lot.  He is cautious on the space and is underweight right now.  Restaurants and especially this one have been stellar.  They have really turned around and are a hero. 

food services

He likes it a lot.  He is cautious on the space and is underweight right now.  Restaurants and especially this one have been stellar.  They have really turned around and are a hero. 

food services
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$173.390
Owned Owned
Unknown

HOLD
Medtronic Inc(MDT-N) 

January 11, 2018

Medical devices.  A good global name.  He has been bullish on medical devices for quite some time.  He has shifted that down recently because it was getting close to his break points.  Earnings were ratcheted down because of hurricane noise because of Puerto Rican noise.  IHI-N is the US ETF he would use to take positions in this sector.  You want to get through this next quarter.  You have good metrics.

biotechnology/pharmaceutical

Medical devices.  A good global name.  He has been bullish on medical devices for quite some time.  He has shifted that down recently because it was getting close to his break points.  Earnings were ratcheted down because of hurricane noise because of Puerto Rican noise.  IHI-N is the US ETF he would use to take positions in this sector.  You want to get through this next quarter.  You have good metrics.

biotechnology/pharmaceutical
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$85.730
Owned Owned
Unknown

COMMENT
Morgan Stanley(MS-N) 

January 11, 2018

If you look at all the US banks' total returns, they are almost identical. The reason is because of ETF's. It’s pretty much a 26%-27% total return over the last 12 months for almost all the big money centred banks. Interest rates are rising, so it’s a good place to be. For access to American banking, he owns Toronto Dominion (TD-T) instead. On the dividend per share being paid out by US banks, they are just getting started. This bank would be deemed more as a money centred bank. A little slower growth than some of the others, because they have more of a global positioning with greater capital markets exposure.

investment companies/funds

If you look at all the US banks' total returns, they are almost identical. The reason is because of ETF's. It’s pretty much a 26%-27% total return over the last 12 months for almost all the big money centred banks. Interest rates are rising, so it’s a good place to be. For access to American banking, he owns Toronto Dominion (TD-T) instead. On the dividend per share being paid out by US banks, they are just getting started. This bank would be deemed more as a money centred bank. A little slower growth than some of the others, because they have more of a global positioning with greater capital markets exposure.

investment companies/funds
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$54.200
Owned Owned
No

HOLD
Nutrien Ltd.(NTR-T) 

January 11, 2018

This is the merger of Agrium and Potash. If the population is continually growing, someone has to feed them. The industry has been hurt recently, because China, Ukraine and Russia are cutting prices just to get rid of supply. When that supply disappears and demand catches up, they then have pricing power. In the meantime, it is just a matter of sitting back. $50 would be a good entry point. Earnings are going to be choppy over the next little while.

agriculture

This is the merger of Agrium and Potash. If the population is continually growing, someone has to feed them. The industry has been hurt recently, because China, Ukraine and Russia are cutting prices just to get rid of supply. When that supply disappears and demand catches up, they then have pricing power. In the meantime, it is just a matter of sitting back. $50 would be a good entry point. Earnings are going to be choppy over the next little while.

agriculture
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$66.630
Owned Owned
Unknown

PAST TOP PICK
Paychex(PAYX-Q) 

January 11, 2018

(A Top Pick March 13/17. Up 10%.) Basically does HR and payroll services. Every 2 weeks, when all these little companies have to remit their IRS payroll taxes, this company gets to grab $4 billion and park it over the weekend at rising interest rates. For every .25% interest rates rise in the US, this company makes free money of $3 million. They are catering to small-medium-sized businesses of 15 employees or less, so their business is picking up, revenues are growing and with tax cuts from 35% to 21%, it is going to release a lot of cash flow with an increasing dividend that could be as high as 50%.

computer software/processing

(A Top Pick March 13/17. Up 10%.) Basically does HR and payroll services. Every 2 weeks, when all these little companies have to remit their IRS payroll taxes, this company gets to grab $4 billion and park it over the weekend at rising interest rates. For every .25% interest rates rise in the US, this company makes free money of $3 million. They are catering to small-medium-sized businesses of 15 employees or less, so their business is picking up, revenues are growing and with tax cuts from 35% to 21%, it is going to release a lot of cash flow with an increasing dividend that could be as high as 50%.

computer software/processing
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$66.860
Owned Owned
Yes

DON'T BUY
Power Corp(POW-T) 

January 11, 2018

Feels the problem over the last decade or so, is that they used to sit on cash and then jump at opportunities, but haven't really been jumping at acquisitions recently. There hasn't been any growth in the mutual fund industry or even at Great West (GWO-T). In 2009, the dividend was at $1.40, and stayed at that until 2015 when they raised its to $1.49. The average growth rate of the dividend over the last 5 and 10 years has only been 5%. He would avoid this.

mngmnt/diversified

Feels the problem over the last decade or so, is that they used to sit on cash and then jump at opportunities, but haven't really been jumping at acquisitions recently. There hasn't been any growth in the mutual fund industry or even at Great West (GWO-T). In 2009, the dividend was at $1.40, and stayed at that until 2015 when they raised its to $1.49. The average growth rate of the dividend over the last 5 and 10 years has only been 5%. He would avoid this.

mngmnt/diversified
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$32.380
Owned Owned
No

DON'T BUY
PayPal Holdings Inc.(PYPL-Q) 

January 11, 2018

He is neutral to positive on the name.  You could look at a V-N or MA-N, which are better valued.  It has really appealing moats.  Valuation takes his view lower.  He is picky in this area.  Tech as a sector is a neutral. 

He is neutral to positive on the name.  You could look at a V-N or MA-N, which are better valued.  It has really appealing moats.  Valuation takes his view lower.  He is picky in this area.  Tech as a sector is a neutral. 

0
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$79.750
Owned Owned
Unknown

DON'T BUY

This has been struggling, simply because it is a large REIT with retailers. Prefers owning the REIT bonds because you get the safety of payment, and if the stock market falls 20%, the bonds would probably go higher. If you buy the REIT, you are taking on equity risk, which you never want as an equity investor. Also, this company's dividend hasn't moved in the last 6 years, so the growth rate over the last 6 years has been zero. Over the last 15 years, the growth rate has been 2% per year. This is not a great investment.

property mngmnt/investment

This has been struggling, simply because it is a large REIT with retailers. Prefers owning the REIT bonds because you get the safety of payment, and if the stock market falls 20%, the bonds would probably go higher. If you buy the REIT, you are taking on equity risk, which you never want as an equity investor. Also, this company's dividend hasn't moved in the last 6 years, so the growth rate over the last 6 years has been zero. Over the last 15 years, the growth rate has been 2% per year. This is not a great investment.

property mngmnt/investment
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$23.890
Owned Owned
No

DON'T BUY
Banco Santander SA(SAN-N) 

January 11, 2018

The positive for this bank is that it is a retail global bank. They are in Europe, South America, Latin America and North America, but not a lot in Asia. The bad news is that there are political machinations going on in Spain that are not making people happy. Also, it is the largest car loan issuer in the US, and that is not going well. Raised the dividend 9% last year, but over the last 5 years it has fallen 13%.

banks

The positive for this bank is that it is a retail global bank. They are in Europe, South America, Latin America and North America, but not a lot in Asia. The bad news is that there are political machinations going on in Spain that are not making people happy. Also, it is the largest car loan issuer in the US, and that is not going well. Raised the dividend 9% last year, but over the last 5 years it has fallen 13%.

banks
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$7.110
Owned Owned
No

DON'T BUY
Schlumberger Ltd.(SLB-N) 

January 11, 2018

He prefers not to take the company specific risk.  He prefers OIH-N.  SLB-N is extremely well run.  It is making up a lot of lost ground at this point.  He prefers E&P.  The XLE-N is another ETF to consider.

oil/gas field services

He prefers not to take the company specific risk.  He prefers OIH-N.  SLB-N is extremely well run.  It is making up a lot of lost ground at this point.  He prefers E&P.  The XLE-N is another ETF to consider.

oil/gas field services
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$77.050
Owned Owned
Unknown

COMMENT
Teva Pharmaceutical(TEVA-N) 

January 11, 2018

They are having competition with their biggest product. Mylan (MYL-Q) has come out with a generic alternative to their Copaxone. Their debt has been heavily laden. Just let 10,000-15,000 Israeli employees go. You have to be in a gambling phase, because this could go to zero with their heavy outstanding debt load. They don't have a lot of new products coming out. Instead of playing the stock, he is looking at their bonds.

biotechnology/pharmaceutical

They are having competition with their biggest product. Mylan (MYL-Q) has come out with a generic alternative to their Copaxone. Their debt has been heavily laden. Just let 10,000-15,000 Israeli employees go. You have to be in a gambling phase, because this could go to zero with their heavy outstanding debt load. They don't have a lot of new products coming out. Instead of playing the stock, he is looking at their bonds.

biotechnology/pharmaceutical
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$21.740
Owned Owned
No

TOP PICK
TransCanada Corp(TRP-T) 

January 11, 2018

This was a top pick because he wanted to keep the betas low, just in case there is a market correction any time in the next year. All the talk is about Keystone and their oil pipelines, but nobody is really paying attention that this has been accumulating a lot of gas pipelines and gas assets. Natural gas prices have been in the toilet for a long time, and that bodes well for them, because it is going to be the less pollutant, cheaper choice for the US moving forward. The dividend has been growing roughly in the 10% range which he expects will continue. Dividend yield of 4.2%. Trading around 20X PE. (Analysts' price target is $72.50.)

oil/gas pipelines

This was a top pick because he wanted to keep the betas low, just in case there is a market correction any time in the next year. All the talk is about Keystone and their oil pipelines, but nobody is really paying attention that this has been accumulating a lot of gas pipelines and gas assets. Natural gas prices have been in the toilet for a long time, and that bodes well for them, because it is going to be the less pollutant, cheaper choice for the US moving forward. The dividend has been growing roughly in the 10% range which he expects will continue. Dividend yield of 4.2%. Trading around 20X PE. (Analysts' price target is $72.50.)

oil/gas pipelines
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$59.830
Owned Owned
Yes

COMMENT
Unilever PLC(UL-N) 

January 11, 2018

He believes in the stock. You are getting earnings growth of roughly 10% a year, and revenue growth anywhere from 2% to 4%. They are a little on the low side now, but just sold off their spreads business, so they have $6 billion in cash. Their strategy going forward is to have subsidiaries which are high margin/high growth. They want to reduce costs and overhead, and get margins higher so that they can a) pay down some debt and b) continue the dividend growth and c) capture more e-commerce markets. 43% of revenues are in Asia, and nobody else is close.

food processing

He believes in the stock. You are getting earnings growth of roughly 10% a year, and revenue growth anywhere from 2% to 4%. They are a little on the low side now, but just sold off their spreads business, so they have $6 billion in cash. Their strategy going forward is to have subsidiaries which are high margin/high growth. They want to reduce costs and overhead, and get margins higher so that they can a) pay down some debt and b) continue the dividend growth and c) capture more e-commerce markets. 43% of revenues are in Asia, and nobody else is close.

food processing
David Driscoll

President & CEO, Liberty Internationa...

PricePrice
$54.020
Owned Owned
Yes

DON'T BUY
Verizon Communications(VZ-N) 

January 11, 2018

A highly competitive industry.  It has been sideways all last year.  He thinks it might go lower because of the rate picture.  It is a bond proxy, which he thinks you should stay away from.  He would steer clear.

telephone utilities

A highly competitive industry.  It has been sideways all last year.  He thinks it might go lower because of the rate picture.  It is a bond proxy, which he thinks you should stay away from.  He would steer clear.

telephone utilities
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$52.110
Owned Owned
Unknown

BUY
Wynne Resorts Ltd.(WYNN-Q) 

January 11, 2018

The company is well managed.  It is large cap.  Its growth profile has been phenomenal.  It is a well executed strategy.  They are one of the top casino managers in the world.  It is trading at a great valuation level with a good growth profile.

entertainment services

The company is well managed.  It is large cap.  Its growth profile has been phenomenal.  It is a well executed strategy.  They are one of the top casino managers in the world.  It is trading at a great valuation level with a good growth profile.

entertainment services
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$162.500
Owned Owned
Unknown

TOP PICK

He likes the transports a lot.  There is strong economical growth and the secular global ecommerce trends are both helping it.

E.T.F.'s

He likes the transports a lot.  There is strong economical growth and the secular global ecommerce trends are both helping it.

E.T.F.'s
Cameron Hurst

Chief Investment Officer, Equium Capital Manag...

PricePrice
$68.550
Owned Owned
Yes

N/A
General Market Comment 

January 10, 2018

Market. It's a tough market, and he doesn't remember when returns were as prosperous as they are now and feeling as bad as he does now. Experience teaches us that when you go through such a period of low volatility and no corrections, you have to pay the piper at some point. In anticipation of one that will come, it's hard to be over celebratory in this environment. However, markets are good, and you have to be invested, and need to build some defence as well. He is two thirds US and one third Canada in his investments, and has been that way since 2012. He is carrying about 10% cash and a 5% weighting in gold bullion.

Market. It's a tough market, and he doesn't remember when returns were as prosperous as they are now and feeling as bad as he does now. Experience teaches us that when you go through such a period of low volatility and no corrections, you have to pay the piper at some point. In anticipation of one that will come, it's hard to be over celebratory in this environment. However, markets are good, and you have to be invested, and need to build some defence as well. He is two thirds US and one third Canada in his investments, and has been that way since 2012. He is carrying about 10% cash and a 5% weighting in gold bullion.

Unknown
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$0.020
Owned Owned
_N/A

BUY on WEAKNESS
Apple(AAPL-Q) 

January 10, 2018

Long-term this is definitely a stock you want to own. Its ecosystem is so massive, it touches 3 generations. You have 75-year-olds getting on iPads, and then they are brought into the ecosystem. That’s very powerful when they have that many users. Right now, there is a little noise on the market with a lot of tech stocks. There could be a pullback on this, but he could see it being a $200 stock in a year. Also, they’ll be repatriating cash back from overseas.

electrical/electronic

Long-term this is definitely a stock you want to own. Its ecosystem is so massive, it touches 3 generations. You have 75-year-olds getting on iPads, and then they are brought into the ecosystem. That’s very powerful when they have that many users. Right now, there is a little noise on the market with a lot of tech stocks. There could be a pullback on this, but he could see it being a $200 stock in a year. Also, they’ll be repatriating cash back from overseas.

electrical/electronic
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$174.290
Owned Owned
Unknown

DON'T BUY
Alaris Royalty(AD-T) 

January 10, 2018

Likes their business model, which is royalties. They go into businesses that need help and capital. Instead of selling common shares or getting high lender debt, this company will structure some kind of a royalty deal that will give them a high coupon and first rates to different things. Pays an 8% dividend, and has a well diversified portfolio. However, competition in this kind of business is increasing. He’s not very bullish on their business plan right now, and wouldn't buy this yet. Higher interest rates would put a bit of a strain on their business. Stay away from this for now.

Financial Services

Likes their business model, which is royalties. They go into businesses that need help and capital. Instead of selling common shares or getting high lender debt, this company will structure some kind of a royalty deal that will give them a high coupon and first rates to different things. Pays an 8% dividend, and has a well diversified portfolio. However, competition in this kind of business is increasing. He’s not very bullish on their business plan right now, and wouldn't buy this yet. Higher interest rates would put a bit of a strain on their business. Stay away from this for now.

Financial Services
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$20.040
Owned Owned
No

PAST TOP PICK

(A Top Pick Sept 27/16. Down 48%.) Sold this when it turned out they were being investigated by the SEC for issues on their accounting.

Financial Services

(A Top Pick Sept 27/16. Down 48%.) Sold this when it turned out they were being investigated by the SEC for issues on their accounting.

Financial Services
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$12.690
Owned Owned
No

TOP PICK
Broadcom(AVGO-Q) 

January 10, 2018

This company has such a tight grip on the chip side of things, and you see evidence of that with how much Apple (AAPL-Q) has gotten into bed with them, in terms of making them a quasi-exclusive chip manufacturer for some parts of the iPhone. Thinks the acquisition with Qualcomm (QCOM-Q) is going to happen. Dividend yield of 2.6%. (Analysts' price target is $320.)

This company has such a tight grip on the chip side of things, and you see evidence of that with how much Apple (AAPL-Q) has gotten into bed with them, in terms of making them a quasi-exclusive chip manufacturer for some parts of the iPhone. Thinks the acquisition with Qualcomm (QCOM-Q) is going to happen. Dividend yield of 2.6%. (Analysts' price target is $320.)

0
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$262.830
Owned Owned
Yes

PAST TOP PICK
Bank of America(BAC-N) 

January 10, 2018

(A Top Pick Nov 1/16. Up 87%.) There were a few tailwinds involved. Higher rates were expected, a better US economy, better regulation in the US and higher earnings.

banks

(A Top Pick Nov 1/16. Up 87%.) There were a few tailwinds involved. Higher rates were expected, a better US economy, better regulation in the US and higher earnings.

banks
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$30.550
Owned Owned
Yes

BUY on WEAKNESS

Another stock that sold off on the news of NAFTA. It gives you exposure to renewable energy, infrastructure, real estate, financial business, venture capital, merchant banking through business partners. Kind of a one-stop shop for a lot of industries. He would buy on a dip.

management/diversified

Another stock that sold off on the news of NAFTA. It gives you exposure to renewable energy, infrastructure, real estate, financial business, venture capital, merchant banking through business partners. Kind of a one-stop shop for a lot of industries. He would buy on a dip.

management/diversified
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$52.910
Owned Owned
Unknown

BUY
BCE Inc.(BCE-T) 

January 10, 2018

Telus (T-T) or Bell Canada (BCE-T)? He owns both. They are very similar, especially in the Canadian marketplace given how small the market is. You can own both. It's the idea of having some diversification in the portfolio. Both pay a great dividend and have a history of raising the dividend. The dividend on this is about 4.8%. If yield is important to you, and you are retired, you are likely to lean more towards this because of the greater yield. It has a very low beta, one of the lowest on the TSX. A name you can live with in both good and bad times.

telephone utilities

Telus (T-T) or Bell Canada (BCE-T)? He owns both. They are very similar, especially in the Canadian marketplace given how small the market is. You can own both. It's the idea of having some diversification in the portfolio. Both pay a great dividend and have a history of raising the dividend. The dividend on this is about 4.8%. If yield is important to you, and you are retired, you are likely to lean more towards this because of the greater yield. It has a very low beta, one of the lowest on the TSX. A name you can live with in both good and bad times.

telephone utilities
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$58.290
Owned Owned
Yes

PAST TOP PICK
Bristol Myers Squibb(BMY-N) 

January 10, 2018

(A Top Pick Nov 1/16. Up 26%.) Still a top holding across all his funds. Likes its innovative pipeline of drugs, especially its immuno ecology for fighting cancer. Thinks it has the strongest portfolio out there. Because of their strong pipeline, this would be an M&A target. Repatriation of cash by a lot of majors will spur M&A in healthcare.

biotechnology/pharmaceutical

(A Top Pick Nov 1/16. Up 26%.) Still a top holding across all his funds. Likes its innovative pipeline of drugs, especially its immuno ecology for fighting cancer. Thinks it has the strongest portfolio out there. Because of their strong pipeline, this would be an M&A target. Repatriation of cash by a lot of majors will spur M&A in healthcare.

biotechnology/pharmaceutical
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$62.010
Owned Owned
Yes

TOP PICK
BNP Paribas(BNP FP (Paris)) 

January 10, 2018

He likes this because of the global growth, and he really likes Europe and European banks right now. Rates are going up, but more importantly velocity of money and loans are finally happening in Europe, both to consumers and businesses. Europe has been a laggard out of the recession, and over the last 18 months have finally got their act together. Trading at 10 PE, has a growing dividend and he really likes France. Dividend yield of 4.1%. (Analysts' price target is €73.25.)

He likes this because of the global growth, and he really likes Europe and European banks right now. Rates are going up, but more importantly velocity of money and loans are finally happening in Europe, both to consumers and businesses. Europe has been a laggard out of the recession, and over the last 18 months have finally got their act together. Trading at 10 PE, has a growing dividend and he really likes France. Dividend yield of 4.1%. (Analysts' price target is €73.25.)

0
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$0.000
Owned Owned
Yes

COMMENT

Owning this is similar to blindfolding yourself, and trying to walk through your house. You can't really see where you are going, but you roughly have an idea of what is going on. On this company, we know the business, we know the assets and we know what they are trying to do, but the challenge is that the industry is going through so much change and it is very difficult to value the assets. There are 2 distinctive unknowns with this. 1.) Valuing the assets and 2) betting on their ability to turn around the business they are focused on. Technically they should cut the dividend, but have no choice as that is what is keeping investors there. Dividend yield of 10.3%.

entertainment services

Owning this is similar to blindfolding yourself, and trying to walk through your house. You can't really see where you are going, but you roughly have an idea of what is going on. On this company, we know the business, we know the assets and we know what they are trying to do, but the challenge is that the industry is going through so much change and it is very difficult to value the assets. There are 2 distinctive unknowns with this. 1.) Valuing the assets and 2) betting on their ability to turn around the business they are focused on. Technically they should cut the dividend, but have no choice as that is what is keeping investors there. Dividend yield of 10.3%.

entertainment services
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$9.170
Owned Owned
Unknown

BUY on WEAKNESS

Is the ripping up of NAFTA a serious concern for them? Long-term, a good economy means a good stock for this company. He expects the economy to be quite good in 2018 for both the US and Canada. A 15% pullback could be a possibility on a break up of NAFTA, but doesn't see anything disrupting their long-term business plan until a recession hits. If this stock drops below $100, that will be an opportunity. This is one you need to own if you want to own the North American economy.

Transportation

Is the ripping up of NAFTA a serious concern for them? Long-term, a good economy means a good stock for this company. He expects the economy to be quite good in 2018 for both the US and Canada. A 15% pullback could be a possibility on a break up of NAFTA, but doesn't see anything disrupting their long-term business plan until a recession hits. If this stock drops below $100, that will be an opportunity. This is one you need to own if you want to own the North American economy.

Transportation
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$101.870
Owned Owned
Unknown

PAST TOP PICK
Cisco(CSCO-Q) 

January 10, 2018

(A Top Pick Sept 27/16. Up 33%.) They had done so much in acquisitions, and is not sure how the digestion of all of that is going to go. Sold it, but would consider getting back in, but wants more clarity as to where they are going and how the transition from switches and routers to software is going.

electrical/electronic

(A Top Pick Sept 27/16. Up 33%.) They had done so much in acquisitions, and is not sure how the digestion of all of that is going to go. Sold it, but would consider getting back in, but wants more clarity as to where they are going and how the transition from switches and routers to software is going.

electrical/electronic
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$39.910
Owned Owned
No

SELL
Enbridge(ENB-T) 

January 10, 2018

This business is a disaster. It's a challenge to make money owning it. Despite what many say, it is sensitive to oil prices. Moody's downgraded it meaning they are flirting with the idea of being below investment grade. It’s difficult to see where growth is going to come from. The 4.9% dividend yield is meaningful, but the valuation is of a growth company. There’s a lot of old money sitting in this because it’s been a great place to get yield. That continues to keep its valuation sky high, but it’s like the Titanic and very difficult for it to move around and grow.

oil/gas pipelines

This business is a disaster. It's a challenge to make money owning it. Despite what many say, it is sensitive to oil prices. Moody's downgraded it meaning they are flirting with the idea of being below investment grade. It’s difficult to see where growth is going to come from. The 4.9% dividend yield is meaningful, but the valuation is of a growth company. There’s a lot of old money sitting in this because it’s been a great place to get yield. That continues to keep its valuation sky high, but it’s like the Titanic and very difficult for it to move around and grow.

oil/gas pipelines
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$49.110
Owned Owned
No

COMMENT
Enbridge(ENB-T) 

January 10, 2018

Has a little bit of this, but his view is that 1) it might be acquired, and 2) it is always this company versus TransCanada (TRP-T). Right now he prefers TransCanada. You need to understand that Canadian pipelines are still in the utilities camp, even though they have growth embedded in their business plans. They are quasi-bond proxies. Right now, bond yields are going up and investors are going to wait to buy utilities.

oil/gas pipelines

Has a little bit of this, but his view is that 1) it might be acquired, and 2) it is always this company versus TransCanada (TRP-T). Right now he prefers TransCanada. You need to understand that Canadian pipelines are still in the utilities camp, even though they have growth embedded in their business plans. They are quasi-bond proxies. Right now, bond yields are going up and investors are going to wait to buy utilities.

oil/gas pipelines
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$49.110
Owned Owned
Yes

PAST TOP PICK
First American Corp.(FAF-N) 

January 10, 2018

(A Top Pick Sept 27/16. Up 55%.) This was his way of taking opportunity in the insurance space, and blending it in with getting exposure to the US housing market. The largest part of their revenue comes from Title Insurance, and you can't buy a house in the US without getting this. They started to pay a dividend in 2010, and have done a great job of consistently raising it. He continues to buy this.

insurance

(A Top Pick Sept 27/16. Up 55%.) This was his way of taking opportunity in the insurance space, and blending it in with getting exposure to the US housing market. The largest part of their revenue comes from Title Insurance, and you can't buy a house in the US without getting this. They started to pay a dividend in 2010, and have done a great job of consistently raising it. He continues to buy this.

insurance
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$59.320
Owned Owned
Yes

COMMENT
Fairfax Financial(FFH-T) 

January 10, 2018

Prem Watsa owns a lot of businesses in India, so if you want an indirect way to play India out of a very volatile ETF, this is a way to do it. They also run and Indian ETF. This is an insurance company, so there is a lot of hedging being done. The stock sometimes does better in a poorer market because of the hedges.

insurance

Prem Watsa owns a lot of businesses in India, so if you want an indirect way to play India out of a very volatile ETF, this is a way to do it. They also run and Indian ETF. This is an insurance company, so there is a lot of hedging being done. The stock sometimes does better in a poorer market because of the hedges.

insurance
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$651.000
Owned Owned
No

TOP PICK
Freehold Royalties(FRU-T) 

January 10, 2018

One reason he likes this is that oil is over $60. It is very investable again. Money comes into the energy sector finally, in 2018. One of the few Canadian energy companies that raised its dividend, and he expects a similar one in March. A safe way to play energy because 95% of their business is royalties. They don't actually produce oil. A very stable earnings base. The stock is undervalued and under owned, so thinks it is a $16-$18 stock. Dividend yield of 4.3%. (Analysts' price target is $18.)

oil/gas

One reason he likes this is that oil is over $60. It is very investable again. Money comes into the energy sector finally, in 2018. One of the few Canadian energy companies that raised its dividend, and he expects a similar one in March. A safe way to play energy because 95% of their business is royalties. They don't actually produce oil. A very stable earnings base. The stock is undervalued and under owned, so thinks it is a $16-$18 stock. Dividend yield of 4.3%. (Analysts' price target is $18.)

oil/gas
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$14.000
Owned Owned
Yes

TOP PICK

Their strategy has been focused on getting out of Europe, and did that by selling Opel/Vauxhall at north of $2 billion. Reinvested those proceeds into share repurchases and into China, which has been a real winner for them. Believes they sell more cars in China than in the US. Also sold more electric cars in 2017 then Tesla. Valuation is still very reasonable. Dividend yield of 3.5%. (Analysts' price target is $48.)

Automotive

Their strategy has been focused on getting out of Europe, and did that by selling Opel/Vauxhall at north of $2 billion. Reinvested those proceeds into share repurchases and into China, which has been a real winner for them. Believes they sell more cars in China than in the US. Also sold more electric cars in 2017 then Tesla. Valuation is still very reasonable. Dividend yield of 3.5%. (Analysts' price target is $48.)

Automotive
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$43.000
Owned Owned
Yes

COMMENT
IBM(IBM-N) 

January 10, 2018

IBM (IBM-N) or Microsoft (MSFT-Q)? Doesn't own either, but of the 2, Microsoft is the safer name to own. They are much deeper into their turnaround. The theme with Microsoft has been Cloud, Cloud, Cloud.

electrical/electronic

IBM (IBM-N) or Microsoft (MSFT-Q)? Doesn't own either, but of the 2, Microsoft is the safer name to own. They are much deeper into their turnaround. The theme with Microsoft has been Cloud, Cloud, Cloud.

electrical/electronic
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$164.180
Owned Owned
No

TOP PICK

A global chemical company which produces chemicals that makes plastics. This has a good valuation and he likes the global growth story. Strong balance sheet. They've done a great job of growing their profitability and their cash flow. Dividend yield of 3.1%. (Analysts' price target is $110.)

INDUSTRIAL PRODUCTS

A global chemical company which produces chemicals that makes plastics. This has a good valuation and he likes the global growth story. Strong balance sheet. They've done a great job of growing their profitability and their cash flow. Dividend yield of 3.1%. (Analysts' price target is $110.)

INDUSTRIAL PRODUCTS
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$115.030
Owned Owned
Yes

COMMENT
Magna Int'l. (A)(MG-T) 

January 10, 2018

There is a NAFTA concern which has kept him on the sidelines, but he is more concerned for the next couple of years on car sales, Peak Auto. There are also some issues on consumer car credits. Electric vehicles is a 10-year story, but will slowly eat into some business. He wants to see a good 1.5 years, to see where car sales are. If you own this, you might consider selling your holdings and looking at something else for the next 6 months to a year.

Automotive

There is a NAFTA concern which has kept him on the sidelines, but he is more concerned for the next couple of years on car sales, Peak Auto. There are also some issues on consumer car credits. Electric vehicles is a 10-year story, but will slowly eat into some business. He wants to see a good 1.5 years, to see where car sales are. If you own this, you might consider selling your holdings and looking at something else for the next 6 months to a year.

Automotive
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$71.440
Owned Owned
No

COMMENT
Microsoft(MSFT-Q) 

January 10, 2018

IBM (IBM-N) or Microsoft (MSFT-Q)? Doesn't own either, but of the 2, this is the safer name to own. They are much deeper into their turnaround. Their theme has been Cloud, Cloud, Cloud. There is major growth in the Cloud, and it is the way of the future. 96% of their cash is offshore, so they stand to benefit from returning cash back to the US.

computer software/processing

IBM (IBM-N) or Microsoft (MSFT-Q)? Doesn't own either, but of the 2, this is the safer name to own. They are much deeper into their turnaround. Their theme has been Cloud, Cloud, Cloud. There is major growth in the Cloud, and it is the way of the future. 96% of their cash is offshore, so they stand to benefit from returning cash back to the US.

computer software/processing
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$87.820
Owned Owned
No

WATCH
Overstock.com(OSTK-Q) 

January 10, 2018

This has piqued investors interests because of their investment in blockchain. Blockchain is a technology that sits high level, like a platform, which you can build upon. It is very useful to cut costs in pretty much any industry. Expect this will be widespread. He would let this stock settle down. Watch it for a couple of quarters. Parabolic charts are always scary.

investment companies/funds

This has piqued investors interests because of their investment in blockchain. Blockchain is a technology that sits high level, like a platform, which you can build upon. It is very useful to cut costs in pretty much any industry. Expect this will be widespread. He would let this stock settle down. Watch it for a couple of quarters. Parabolic charts are always scary.

investment companies/funds
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$79.700
Owned Owned
Unknown

TOP PICK
Pfizer Inc(PFE-N) 

January 10, 2018

Has a lot of money parked offshore, which they can now repatriate and do M&A with. They need M&A because they have a lacklustre pipeline of drugs. The stock has been dead money for 5 years. Trading at 13.5X PE, and the market trades at about 19X PE Forward. Very cheap. They’re growing the dividend and are buying back stock. EPS should go up, because of stock buybacks. Thinks the stock will be going up 15% because of all the tailwinds. Dividend yield of 3.7%. (Analysts' price target is $39.)

biotechnology/pharmaceutical

Has a lot of money parked offshore, which they can now repatriate and do M&A with. They need M&A because they have a lacklustre pipeline of drugs. The stock has been dead money for 5 years. Trading at 13.5X PE, and the market trades at about 19X PE Forward. Very cheap. They’re growing the dividend and are buying back stock. EPS should go up, because of stock buybacks. Thinks the stock will be going up 15% because of all the tailwinds. Dividend yield of 3.7%. (Analysts' price target is $39.)

biotechnology/pharmaceutical
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$36.470
Owned Owned
Yes

COMMENT
Painted Pony Energy(PONY-T) 

January 10, 2018

The big question is, when will we get LNG on the West Coast of Canada. This was started to be talked about around 11-12 years ago, and we still don't have anything as a final investment decision. Most demand for natural gas is in the lower part of the US. We are exporting it to Mexico. There is lots of gas in Pennsylvania and Ohio that is being sucked down there first, and what is left is the stranded gas which was left in Canada. Expects that sometime in 2018, Shell goes ahead with this project, which will get the Canadian gas stocks finally moving. This is still 5 years away. Very speculative.

oil/gas

The big question is, when will we get LNG on the West Coast of Canada. This was started to be talked about around 11-12 years ago, and we still don't have anything as a final investment decision. Most demand for natural gas is in the lower part of the US. We are exporting it to Mexico. There is lots of gas in Pennsylvania and Ohio that is being sucked down there first, and what is left is the stranded gas which was left in Canada. Expects that sometime in 2018, Shell goes ahead with this project, which will get the Canadian gas stocks finally moving. This is still 5 years away. Very speculative.

oil/gas
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$2.020
Owned Owned
Unknown

HOLD
Praxair Inc(PX-N) 

January 10, 2018

A GDP global growth type of stock. It goes as industrials go and goes with GDP. A recession could happen in 2 to 3 years, so you could probably hold this for 18 months to 2 years. He would continue to hold as long as you continue to see strong economic numbers globally.

chemicals

A GDP global growth type of stock. It goes as industrials go and goes with GDP. A recession could happen in 2 to 3 years, so you could probably hold this for 18 months to 2 years. He would continue to hold as long as you continue to see strong economic numbers globally.

chemicals
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$162.620
Owned Owned
Unknown

PAST TOP PICK

(A Top Pick Nov 1/16. Down 1%.) Being flat has been the story of REITs for the last little while. He still likes this, but currently prefers some other REITs.

property mngmnt/investment

(A Top Pick Nov 1/16. Down 1%.) Being flat has been the story of REITs for the last little while. He still likes this, but currently prefers some other REITs.

property mngmnt/investment
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$24.050
Owned Owned
Yes

BUY
Suncor Energy Inc(SU-T) 

January 10, 2018

Has this as a core holding. Their margins have stayed pretty healthy on the refined products side. He likes this because it gives you more of a safe, less volatile way to play energy. Pays a great dividend. They should put up anywhere from 5% to 10% growth every year, depending on crude oil prices.

integrated oils

Has this as a core holding. Their margins have stayed pretty healthy on the refined products side. He likes this because it gives you more of a safe, less volatile way to play energy. Pays a great dividend. They should put up anywhere from 5% to 10% growth every year, depending on crude oil prices.

integrated oils
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$47.000
Owned Owned
Yes

BUY
Telus Corp(T-T) 

January 10, 2018

Telus (T-T) or Bell Canada (BCE-T)? He owns both. They are very similar, especially in the Canadian marketplace given how small the market is. You can own both. It's the idea of having some diversification in the portfolio. Both pay a great dividend and have a history of raising the dividend. The dividend on this is about 4.2%. If yield is important, and you are retired, you are likely to lean more towards BCE because of the greater yield. He likes the focus this has on the wireless side.

telephone utilities

Telus (T-T) or Bell Canada (BCE-T)? He owns both. They are very similar, especially in the Canadian marketplace given how small the market is. You can own both. It's the idea of having some diversification in the portfolio. Both pay a great dividend and have a history of raising the dividend. The dividend on this is about 4.2%. If yield is important, and you are retired, you are likely to lean more towards BCE because of the greater yield. He likes the focus this has on the wireless side.

telephone utilities
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$46.580
Owned Owned
Yes

COMMENT

Given the value this is trading at, he doesn't view it as risky. You are not overpaying, and you are pricing in some of that transition risk which is there. It’s trading at around 9X PE with a yield of about 3.25%. A very good valuation and you are getting paid a healthy dividend. Historically, this has been a printing focused business, which is dying, but the company has done an exceptional job of transitioning to the food labelling and labelling as a whole. He is still buying for new clients.

publishing/printing

Given the value this is trading at, he doesn't view it as risky. You are not overpaying, and you are pricing in some of that transition risk which is there. It’s trading at around 9X PE with a yield of about 3.25%. A very good valuation and you are getting paid a healthy dividend. Historically, this has been a printing focused business, which is dying, but the company has done an exceptional job of transitioning to the food labelling and labelling as a whole. He is still buying for new clients.

publishing/printing
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisor...

PricePrice
$24.600
Owned Owned
Yes

HOLD

What should I do with this? You have the ability to make a good short-term return, so he wouldn't sell it. It looks like it wants to break out of a trading range. A cyclical rally in the market, and materials has shown up as a top overweight by many strategists, so he thinks money flows into this sector. This is quite a volatile stock, so you probably want to hold this. You'll probably hit some headwinds at about $40, which is where you want to sell it.

precious metals

What should I do with this? You have the ability to make a good short-term return, so he wouldn't sell it. It looks like it wants to break out of a trading range. A cyclical rally in the market, and materials has shown up as a top overweight by many strategists, so he thinks money flows into this sector. This is quite a volatile stock, so you probably want to hold this. You'll probably hit some headwinds at about $40, which is where you want to sell it.

precious metals
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$36.520
Owned Owned
Unknown

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