Bill Harris, partner and portfolio manager at Avenue Investment Management
Focus: Canadian stocks
MARKET OUTLOOK
The most descriptive term I have heard to explain where we are right now is ‘The Great Distortion’. All traditional valuations and relationships have been turned on their head. Financial markets are moving well ahead of any hard news. We can even start to point to emerging mania in certain areas. Our focus remains good businesses where the numbers are rational. We are now moving away from the high valuations in the mega-cap stocks.
TOP PICKS
Barrick Gold Corp (ABX TSX)
Emera (EMA TSX)
Russel Metals (RUS TSX)
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| ABX | Y | Y | Y |
| EMA | Y | Y | Y |
| RUS | Y | Y | Y |
PAST PICKS: June 14, 2019
Keyera (KEY TSX)
- Then: $32.25
- Now: $24.43
- Return: -24%
- Total Return: -17%
Cameco Corp (CCO TSX)
- Then: $13.82
- Now: $14.96
- Return: 8%
- Total Return: 9%
Western Forest Products (WEF TSX)
- Then: $1.66
- Now: $1.21
- Return: -27%
- Total Return: -23%
Total Return Average: -10%
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| KEY | Y | Y | Y |
| CCO | N | N | N |
| WEF | N | N | N |
Website: http://www.avenueinvestment.com
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