Aug 27, 2021
Bill Harris' Top Picks: August 27, 2021
BNN Bloomberg
Bill Harris' Top Picks
Bill Harris, partner and portfolio manager, Avenue Investment Management
FOCUS: Canadian large and mid-cap stocks
MARKET OUTLOOK:
Our view at Avenue is that interest rates will stay low and the stock market is being driven by excess financial liquidity. The stock market has now risen to a level where it is fragile to any change to the prevailing sentiment.
However, at this time, we continue to find a number of undervalued investments that we anticipate will do well as the economic recovers over the next year.
TOP PICKS:
Parkland Corporation (PKI TSX)
Parkland is trading at a reasonable valuation and we believe earning will recover as the economy opens up.
Onex Corporation (ONEX TSX)
Onex is one of Canada’s most successful private equity investors, trading at a discount to net asset value as the economy and their private equity investments recover.
Cenovus Energy (CVE TSX)
For the past 10-years, pricing power has lived with the pipelines. Now we believe for the next few years pricing power will be with the producers.
DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
---|---|---|---|
PKI TSX | Y | Y | Y |
ONEX TSX | Y | Y | Y |
CVE TSX | Y | Y | Y |
PAST PICKS: August 28, 2020
Barrick Gold Corp (ABX TSX)
- Then: $38.26
- Now: $25.11
- Return: -34%
- Total Return: -33%
Emera (EMA TSX)
- Then: $53.31
- Now: $59.15
- Return: 11%
- Total Return: 16%
Russel Metals (RUS TSX)
- Then: $18.97
- Now: $35.24
- Return: 86%
- Total Return: 94%
Total Return Average: 26%
DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
---|---|---|---|
ABX TSX | Y | Y | Y |
EMA TSX | Y | Y | Y |
RUS TSX | N | N | N |