Full episode: Market Call Tonight for Wednesday, April 18, 2018
David Burrows, president and chief investment strategist at Barometer Capital Management
Focus: North American large caps
Barometer’s investment team highlights that the recent 8.8 per cent pullback in the S&P 500 was a healthy yet painful bull market correction. Following on the heels of 100 weeks of a low-volatility persistent advance, this correction served to reset investor sentiment and occurred in a corporate news vacuum (blackout period) leading up to the second quarter earnings releases. Barometer notes that its work on the global markets’ internal health points to a continuation in the longer-term upward trajectory, backed by what will likely be a very strong set of quarterly earnings reports. Market leadership continues to be focused in economically sensitive themes including tech, industrials, transports, materials and consumer discretionary.
XPO LOGISTICS (XPO.N)
Last bought on April 18 at $106.04.
INTUITIVE SURGICAL (ISRG.O)
Last bought on April 17 at $434.69.
HESS CORP (HES.N)
Last bought on April 11 at $55.21.
PAST PICKS: MAY 17, 2017
CCL INDUSTRIES (CCLb.TO)
5-for-1 stock split in June, 2017.
- Then: $303.17
- Now: $64.79
- Return: 6.85%
- Total return: 7.66%
- Then: $51.94
- Now: $30.88
- Return: -40.54%
- Total return: -38.11%
MAGNA INTERNATIONAL (MG.TO)
- Then: $60.14
- Now: $75.63
- Return: 25.75%
- Total return: 28.73%
Total return average: -0.57%
Barometer Global Macro Pool Class F
Performance as of: March 31, 2018
- 1 month: -8.1% fund, -0.8% index
- 1 year: 8.9% fund, 1.4% index
- 3 year: 10.6% fund, 0.9% index
* Index: Barclays Global Macro Index.
* Based on reinvested dividends and net of fees.
TOP 5 HOLDINGS AND WEIGHTINGS
- US:ITA: 6.0%
- US:HACK: 5.8%
- US:MTUM: 5.7%
- US:PDP: 5.6%
- US:IHI: 5.4%