Cole Kachur's Top Picks: September 2, 2020

Cole Kachur, portfolio manager at Scotia Wealth Management
Focus: Canadian equities and ETFs

MARKET OUTLOOK

It’s my opinion that markets are getting a bit expensive and technical indicators such as the relative strength index are backing up this view. There will be periods of volatility as we head into the US election. The dog days of summer are ending and there should be increased volumes on stocks, which will add to opportunities to hunt for names that are mispriced by the market. Overall, an unprecedented amount of stimulus and fed accommodation should help buoy markets. With the sharp snapback in equities, I would still recommend caution and proper asset weightings.

TOP PICKS

Brookfield Asset Management (BAM/A TSX)
 

Ulta Beauty (ULTA NASD)
 

Ericsson (ERIC NASD)

 

PAST PICKS: August 23rd, 2019

BMO Tactical Dividend ETF (ZZZD TSX)

• Then: $31.71
• Now: $28.54
• Return: -10%
• Total Return: -7%

Square (SQ NASD)

• Then: US$61.78
• Now: US$161.69
• Return: 162%
• Total Return: 162%

Suncor Energy (SU TSX)

• Then: $37.00
• Now: $21.00
• Return: -43%
• Total Return: -41%

Total Return Average: 38%