Greg Newman's Top Picks: February 8, 2024
Greg Newman, senior wealth advisor and portfolio manager, Newman Group, ScotiaMcLeod
FOCUS: North American stocks, dividends, option strategies
MARKET OUTLOOK:
What an unbridled run the U.S. markets have had since October. The result of tamer inflation, solid earnings and a U.S. economy that looks to be re-accelerating. Powerful tailwinds such as North American reshoring, a healthy U.S. consumer, AI, a U.S. election year and ESG spending are fuelling the charge.
That said, buoyant equity positioning, February seasonality, wars, an uncertain U.S. election outcome and overly optimistic rate cut expectations make for at least a reasonable chance of some sort of correction.
All in, we are tactically leaning into the rally, but still finding attractive options in fixed income.
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TOP PICKS:
Greg Newman, senior wealth advisor and portfolio manager at Newman Group, discusses his top picks: Intel, Freeport-McMoRan, and Uber.
Intel (INTC NASD)
Offers investors a nice combination of growth and valuation.
Freeport-McMoRan (FCX NYSE)
Offers investors a nice growth rate, a low valuation and an attractive dividend.
Uber (UBER NYSE)
Offers investors a high growth rate at a reasonable valuation.
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| Intel (INTC NASD) | Y | Y | Y |
| Freeport-McMoRan (FCX NYSE) | Y | Y | Y |
| Uber (UBER NYSE) | Y | Y | Y |
PAST PICKS: DECEMBER 20, 2022
Greg Newman, senior wealth advisor and portfolio manager at Newman Group, discusses his past picks: 1 Year Annual GIC, BCE, and Altagas.
1 Year Annual GIC
- Return: 6%
BCE (BCE TSX)
- Then: $59.62
- Now: $50.70
- Return: -15%
- Total Return: -9%
Altagas (ALA TSX)
- Then: $22.83
- Now: $27.20
- Return: 19%
- Total Return: 25%
Total Return Average: 7%
| DISCLOSURE | PERSONAL | FAMILY | PORTOLIO/FUND |
|---|---|---|---|
| GIC | Y | Y | Y |
| BCE TSX | Y | Y | Y |
| ALA TSX | Y | Y | Y |
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