Greg Newman's Top Picks: November 3, 2023
Greg Newman, senior wealth advisor and portfolio manager, Newman Group, ScotiaMcLeod
FOCUS: North American stocks and protection strategies
MARKET OUTLOOK:
Highly unsettling geopolitics have added to the already confused backdrop of whether a recession can be avoided and to what extent investors should be taking on risk. That said, a more benign U.S. Federal Reserve combined with a largely supportive earnings picture, oversold conditions and favourable seasonality have given the bulls some room to run. Given this heightened degree of uncertainty, a healthy amount of defence and offence is prudent. Stay on your asset allocation.
TOP PICKS:
AltaGas (ALA TSX)
ALA offers investors nice growth at a compelling price with a nice dividend.
Chartwell Retirement Residences (CSH.UN TSX)
CSH.un offers investors nice growth at a reasonable price with a nice distribution.
GIC Annual 1 year
offers investors a nice return with little risk.
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| AltaGas (ALA TSX) | Y | Y | Y |
| Chartwell Retirement Residences (CSH.UN TSX) | Y | Y | Y |
| 1 YR ANNUAL GIC | Y | Y | Y |
PAST PICKS:
Transalta Renewables (RNW TSX)
- Then: $13.17
- Now: $12.48
- Return: -5%
- Total Return: 1%
Crombie REIT (CRR.UN TSX)
- Then: $14.33
- Now: $13.69
- Return: -4%
- Total Return: 2%
Brookfield Infrastructure Partners (BIP.UN TSX)
- Then: $46.52
- Now: $38.08
- Return: -18%
- Total Return: -14%
Total Return Average: -4%
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| RNW TSX | N | N | N |
| CRR.UN TSX | Y | Y | Y |
| BIP.UN TSX | Y | Y | Y |
