Greg Newman, Senior Wealth Advisor & Portfolio Manager, Newman Group, ScotiaMcLeod
Focus: North American equities, market protection strategies
Top Picks: Altagas, Parkland Corp., Brookfield Infrastructure Partners
MARKET OUTLOOK:
Picking stocks always involves assumptions. Forecasting the direction of interest rates, earnings and execution are one set of variables. Another set involves government policies. At present, this last one is most opaque.
Will there be tariffs? If so, how broad, how high and for how long? What impact will this have on interest rates, earnings and asset prices in the U.S., Canada and across the globe? I believe the more prudent response is to fade this fear as “this too shall pass” for various reasons, such as Scott Bessent’s 3-3-3 plan.
That said, given the heightened uncertainty and higher valuations, we are erring on the side of caution.
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TOP PICKS:
Altagas (ALA TSX)
ALA offers investors healthy growth while trading at a decent valuation.
Parkland Corp. (PKI TSX)
PKI offers investors high growth while trading at a low valuation.
Brookfield Infrastructure Partners (BIP.UN TSX)
BIP.UN offers investors nice growth while trading at a reasonable valuation.
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| ALA TSX | Y | Y | Y |
| PKI TSX | Y | Y | Y |
| BIP.UN TSX | Y | Y | Y |
PAST PICKS: Feb. 8, 2024
Intel (INTC NASD)
Then: US$42.50
Now: US$23.86
Return: -44%
Total Return: -43%
Freeport-McMoRan (FCX NYSE)
Then: US$38.12
Now: US$38.59
Return: 1%
Total Return: 3%
Uber (UBER NYSE) - Sold some in tax accounts for tax loss selling, otherwise holding
Then: US$71.61
Now: US$76.57
Return: 7%
Total Return: 7%
Total Return Average: -11%
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| INTC NASD | Y | Y | Y |
| FCX NYSE | Y | Y | Y |
| UBER NYSE | Y | Y | Y |