Greg Newman, senior wealth advisor and portfolio manager, Scotia Wealth Management
FOCUS: North American stocks
MARKET OUTLOOK:
Central banks will likely continue to attack inflation by raising rates and shrinking their balance sheets. The multiple that stocks should trade at will continue to remain in question.
Additionally, investors will be nervous as to whether central banks can ultimately pull off a soft landing. Against this backdrop, we own a higher percentage of cash, dividend stocks, blue chips and stocks that can benefit from inflation. We are also opportunistic with accumulating oversold areas in technology and growth on pronounced weakness.
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TOP PICKS:
BMO Equal Weight U.S. Banks ETF (ZUB TSX)
BMO offers investors a nice growth opportunity at an attractive valuation
Disney offers investors an attractive growth profile while trading at a reasonable multiple.
PayPal offers investors a high growth profile while trading at a compelling multiple.
PAST PICKS: April 16, 2021
BCE Inc. (BCE TSX)
- Then: $58.11
- Now: $69.44
- Return: 19%
- Total Return: 26%
Bank of Montreal (BMO TSX)
- Then: $114.82
- Now: $138.28
- Return: 20%
- Total Return: 26%
Enbridge (ENB TSX)
- Then: $46.63
- Now: $57.05
- Return: 22%
- Total Return: 30%
Total Return Average: 27%
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| BCE TSX | Y | Y | Y |
| BMO TSX | Y | Y | Y |
| ENB TSX | Y | Y | Y |
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