Market Call

Greg Newman's Top Picks: April 12, 2023

Greg Newman, senior wealth advisor and portfolio manager, Newman Group, ScotiaMcLeod

FOCUS: North American stocks and protection strategies 


MARKET OUTLOOK:

Many continue to call for caution while believing a recession to be around the corner. Yet, bond yields continue to fall and equities continue to gain so far this year. Earnings expectations are still constructive and the labour market is still strong. The bears argue that the lag effects of the steep rate hikes will start to work their way through and that inflation, although benign today, will be an unknown going concern for some time. Additionally, that bank lending will be lower because of the inverted yield curve and the deposit situation of the U.S. regional banks.

It is a close call, and so for months, we have been advocating being neither underweight nor overweight in equities regarding your asset allocation. That said, this morning’s U.S. consumer price index combined with the recent bank concerns will likely mean that the U.S. Federal Reserve is nearing a pause. Use the bumpiness to continue to accumulate good stocks that will flourish in the next bull market.

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TOP PICKS:

Greg Newman's Top Picks

Greg Newman, portfolio manager and senior wealth advisor at Scotia Wealth Management, discusses his top picks: First Quantum Minerals, Bank of America, and Altagas.

First Quantum Minerals (FM TSX)

First Quantum Minerals offers investors high growth at a reasonable price.

Bank of America (BAC NYSE)

Bank of America offers investors solid growth at a compelling price.

Altagas (ALA TSX)

Altagas offers investors solid growth at a very fair price.

 

DISCLOSURE PERSONAL FAMILY PORTFOLIO/FUND
First Quantum Minerals (FM TSX) Y Y Y
Bank of America (BAC NYSE) Y Y Y
ALA TSX Y Y Y

 

PAST PICKS: March 23, 2022

Greg Newman's Past Picks

Greg Newman, senior wealth advisor and portfolio manager at Newman Group, ScotiaMcLeod, discusses his past picks: Exchange Income, Gibson Energy, and Chorus Aviation.

Exchange Income (EIF TSX)

  • Then: $42.10
  • Now: $54.06
  • Return: 28%
  • Total Return: 36%

Gibson Energy (GEI TSX)

  • Then: $25.50
  • Now: $22.53
  • Return: -12%
  • Total Return: -4%

Chorus Aviation (CHR TSX)

  • Then: $4.15
  • Now: $3.16
  • Return: -24%
  • Total Return: -24%

Total Return Average: 3%

 

DISCLOSURE PERSONAL FAMILY PORTFOLIO/FUND
EIF TSX Y Y Y
GEI TSX Y Y Y
CHR TSX Y Y Y