Cole Kachur, senior investment advisor, Wellington-Altus Private Wealth
FOCUS: North American stocks, ETFs
Top Picks: Ulta Beauty, Draft Kings, Air Canada
MARKET OUTLOOK:
Markets strength has continued as we pass the three-quarter mark of the year. Our recommendation has been to use any substantial dips as an opportunity to high-grade portfolios and buy back market leaders at a discounted price.
This philosophy has worked very well throughout the year and we expect it to continue to yield results over the next nine months. Markets may come back a bit in October but it’s our belief that this will be temporary and that the bull run will continue for the first quarter of 2025. In a declining interest rate, declining inflation environment, we are recommending clients gain exposure to growth stocks and have a preference of U.S. over Canada. We have a year-end target of 6,000 on the S&P 500 Index and expect that momentum to continue into 2025.
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TOP PICKS:
Ulta Beauty – (ULTA NASD)
Draft Kings – (DKNG NASD)
Air Canada – (AC TSX)
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| ULTA NASD | Y | N | N |
| DKNG NASD | N | Y | N |
| AC TSX | N | Y | N |
PAST PICKS: JULY 21, 2023
Advanced Micro Devices (AMD NASD)
- Then: US$110.95
- Now: US$165.27
- Return:49%
- Total Return: 49%
Amazon.com (AMZN NASD)
- Then: US$130.00
- Now: US$181.55
- Return:40%
- Total Return: 40%
iShares Russell 2000 ETF (IWM NYSEARCA)
- Then: US$194.46
- Now: US$216.21
- Return:11%
- Total Return: 13%
Total Return Average: 34%
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| AMD NASD | N | N | N |
| AMZN NASD | N | N | N |
| IWM NYSEARCA | N | N | N |
