Aug 16, 2023
Greg Newman's Top Picks: August 16, 2023
BNN Bloomberg
Greg Newman’s Top Picks
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Greg Newman, senior wealth advisor and portfolio manager, ScotiaMcLeod
FOCUS: North American stocks and protection strategies
MARKET OUTLOOK:
Rising bond yields, an anemic China, seasonality, higher valuations, more downgrades on the U.S. banks and more bullish positioning are weighing on equities.
Yet, analyst earning expectations and a healthy job market remain supportive. There are some compelling places to put money to work in equities, but short-term bonds and cash also pay very well. Given this degree of uncertainty, a healthy amount of both offence and defence is prudent. Stay on or near your asset allocation.
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TOP PICKS:
AltaGas offers investors nice growth at a reasonable price with a nice growing dividend.
Chartwell Retirement Residences (CSH.UN TSX)
Chartwell Retirement Residences offers investors robust growth at a reasonable price with a nice dividend.
Comcast offers investors nice growth at a compelling valuation with a decent dividend.
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| ALA TSX | Y | Y | Y |
| CSH.UN TSX | Y | Y | Y |
| CMCSA NASD | Y | Y | Y |
PAST PICKS: July 28, 2022
Keyera (KEY TSX)
- Then: $32.44
- Now: $32.25
- Return: -1%
- Total Return: 5%
Brookfield Infrastructure Partners (BIP.UN TSX)
- Then: $50.80
- Now: $43.04
- Return: -15%
- Total Return: -12%
Manulife Financial (MFC TSX)
- Then: $23.13
- Now: $25.33
- Return: 10%
- Total Return: 16%
Total Return Average: 3%
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| KEY TSX | Y | Y | Y |
| BIP.UN TSX | Y | Y | Y |
| MFC TSX | Y | Y | Y |
