Mar 14, 2024
Greg Newman's Top Picks: March 14, 2024
BNN Bloomberg
Greg Newman's Market Outlook
Greg Newman, senior wealth advisor and portfolio manager with the Newman Group at ScotiaMcLeod
FOCUS: North American equities and protection strategies
MARKET OUTLOOK:
Investors are enjoying one of the sharpest rallies in 50 years underpinned by tamer inflation, solid earnings growth and a re-accelerating U.S. economy.
Powerful tailwinds, such as North American reshoring, a healthy U.S. consumer, artificial intelligence, a U.S. election year and ESG spending are fuelling the charge.
That said, buoyant equity positioning, peak seasonality, wars, an uncertain U.S. federal election outcome and rising short-term bond yields make for at least a reasonable chance 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:
Pfizer offers investors a compelling valuation, a rich dividend and a nice growth profile.
Citigroup offers investors a compelling valuation, a decent dividend a nice growth profile.
Brookfield Corp. offers investors a compelling valuation and an exciting growth profile.
PAST PICKS: March 3, 2023
High-Interest Savings
- Return: 5 per cent
Telus (T TSX)
- Then: $27.31
- Now: $22.49
- Return: -18 per cent
- Total Return: -11 per cent
AltaGas (ALA TSX)
- Then: $23.89
- Now: $28.90
- Return: 21 per cent
- Total Return: 28 per cent
Total Return Average: 8 per cent
DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
---|---|---|---|
High-Interest Savings | Y | Y | Y |
T TSX | Y | Y | Y |
ALA TSX | Y | Y | Y |