Nov 19, 2019
Barry Schwartz's Top Picks: Nov. 19, 2019
BNN Bloomberg
Full episode: Market Call for Tuesday, November 19, 2019
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Barry Schwartz, chief investment and portfolio manager at Baskin Wealth Management
Focus: North American large caps
MARKET OUTLOOK
As we march into 2020, it appears that investors are discounting all the negative headlines they worried about only a few months ago, and for good reason. If we can get a trade agreement between U.S. and China, animal spirits can take over and begin to drive business confidence higher. Central banks continue to be very accommodative and that is the best scenario for equity investors. No question, stocks are at all-time highs. But they should be when earnings are at record levels, unemployment is at near-record-low levels and interest rates are at science fiction lows. We see a major rebound in earnings growth in 2020, which should continue to drive North American stock prices higher. We see no reason to rebalance equities back to bonds in the current environment. We think investors should continue overweight high-quality, profitable companies and focus their attention on ones that win out in a low-interest rate world.
TOP PICKS
Top Picks
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7:04National Bank CEO slams Canada's capital gains tax increase
The chief executive officer of one of Canada’s largest banks is speaking out against the Trudeau government’s plan to raise taxes on capital gains, arguing it won’t spur investment in the country.
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6:38Capital gains tax should be a non-issue for retirement investors: Dale Jackson
99.87 per cent of Canadian investors dodged a tax bullet in this week’s federal budget.
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6:23Experts predict less significant cut cycles from the BoC, U.S. Fed
Rate cut expectations in both Canada and the U.S. are being pared down, according to experts.
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6:12Sustainable investing on the rise, but greenwashing concerns remain: study
An increasing number of Canadian investors are interested in sustainable investing (SI), but a majority still have concerns about greenwashing and transparency in the sector, according to a new study.
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7:07Copper price surges as investors pile in to looming supply gap
Copper prices have risen all week, buoyed by surging investor confidence amidst ongoing concerns over tight supply conditions for the metal.
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11:57Uncertainty in Canada's tax landscape could weigh on investment: economist
One economist says Canada needs more tax certainty, following the federal government’s move to raise the inclusion rate on capital gains taxes for corporations and some high-earning individuals.
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5:22NHL playoff runs give local businesses a major boost: Moneris
As hockey fans eagerly await the start of the Stanley Cup playoffs, businesses in the four Canadian cities with teams that qualified for the postseason are preparing for a big sales boost, according to Moneris.
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4:00Ottawa moves to raise inclusion rate on capital gains taxes in 2024 budget
The federal government announced intentions to raise the inclusion rate on capital gains taxes for corporations and individuals earning beyond a certain threshold, which will impact wealthy individuals who are benefiting from tax advantages not available to middle class Canadians, according to the Budget 2024.