Brian Acker, president, CEO and chief investment strategist at Acker Finley
Focus: North American large caps

MARKET OUTLOOK

We believe we’re in the middle stages of a secular bull market in the U.S. dollar (it’s been five years since I first started mentioning this on this show). This will ignite the rates of return of all U.S. assets, including equities, real estate and others.

Our view on the U.S. equity market has changed. Using the analogy of a traffic light, for many years we’ve had a green light to invest in high-quality U.S. equities. After December’s market action, the light has turned yellow. Caution is now warranted when investing in equities on both sides of the border. It’s obvious world economic growth is easing, but everyone is wondering whether this is just a slowdown, or something worse: a recession.

We’re calling 2019 the year of the central bank: look for increased activity surrounding what they do and say. Expect more volatility as bond and equity markets around the world adjust to policy changes and their intended economic impact.

TOP PICKS

INTEL (INTC.O)

Last purchased at US$45.67 on Sep. 14, 2018. Model Price is US$93.81, representing an upside of 60 per cent.

ORACLE (ORCL.N)

Last purchase US$54.65 on April 15. Model Price is US$64.34, representing an upside of 18 per cent.

MARSH & MCLENNAN (MMC.N)

Last purchase US$82.05 on Jan. 17. Model Price is US$112.32 representing an upside of 20 per cent.

PAST PICKS: APRIL 25, 2018

BANK OF AMERICA (BAC.N)

• Then: $30.14
• Now: $29.92
• Return: -1%
• Total return: +1%

CISCO SYSTEMS (CSCO.O)

• Then: $43.71
• Now: $56.44
• Return: 29%
• Total return: 33%

INTEL (INTC.O)

• Then: $51.38
• Now: $58.32
• Return: 14%
• Total return: 16%

Total return average: 17%

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