Greg Newman, senior wealth advisor and portfolio manager, Newman Group, ScotiaMcLeod
FOCUS: North American equities, dividend stocks
Top Picks: Manulife Financial, Brookfield Infrastructure Partners, Uber Technologies
MARKET OUTLOOK:
While a soft landing is the more likely outcome, there is still ample uncertainty. Inflation must continue to trend well, the speed and size of rate cuts have to be correct and earnings have to come through.
A U.S. election, wars and a high public debt complicate the picture, particularly with a richly priced market. That said, once the Magnificent Seven stocks are subtracted the price of the market is far more reasonable.
All in we are constructive on a large swath of equities from dividend stocks to some of the strong performers that are still trading at reasonable prices.
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TOP PICKS:
Manulife Financial (MFC TSX)
MFC offers investors nice growth at a low price with a nice growing dividend.
Brookfield Infrastructure Partners (BIP.UN TSX)
BIP.un offers investors nice growth at a low price with a nice growing dividend.
Uber Technologies (UBER NYSE)
UBER offers investors rapid growth at a reasonable price.
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| MCF TSX | Y | Y | Y |
| BIP.UN TSX | Y | Y | Y |
| UBER NYSE | Y | Y | Y |
PAST PICKS: AUGUST 16, 2023
AltaGas (ALA TSX)
- Then: $25.90
- Now: $35.40
- Return:37%
- Total Return: 43%
Chartwell Retirement Residences (CSH.UN TSX)
- Then: $10.31
- Now: $15.74
- Return:53%
- Total Return: 61%
Comcast (CMCSA NASD)
- Then: US$46.34
- Now: US$39.82
- Return:-14%
- Total Return: -12%
Total Return Average: 31%
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| ALA TSX | Y | Y | Y |
| CSH.UN TSX | Y | Y | Y |
| CMCSA NASD | Y | Y | Y |