This panel consisted of Mark Skousen, Ryan Irvine and Gordon Pape This title for this panel was “Everything you need to Know About the markets”.
Ryan: The newspaper the Calgary Herald said a definition of a Gold Mine is a hole surrounded by liars. In Canada there is no hole. There are 28 Blockchain companies in Canada and none met Keystone’s criteria for a recommendation. There are 109 cannabis companies in Canada with 5 with profits. None met Keystone’s criteria. P/S Ratio for Canopy Growth Corp (TSX-WEED) is 700 which is 5 to 6 times sales.
Gordon Pape: He likes value and growth. At present he likes the Canadian banks. They survived 2008. We have only six big banks and also tighter bank regulations. His main current theme is defensive stock, so the banks. American exceptionalism is continuing, even with Trump. The Canadian market has 30% financial, 20% resources, 5% materials and 3% tech. US has 25% tech.
There is too much red tape in Canada and it is hard to get anything done. We can invest in US easily, but we have a home country bias. Agriculture and resources have done poorly for years. 75% of our business is with the US. Dynacor Gold Mines Inc (TSX-DNG) recently started to pay dividends. Franco-Nevada Corp (TSX FNV) and Dollarama (TSX-DOL), CGI Group (TSX-DIB.A) and WSP Global (TSX-WSP) are stocks that are liked.
There is a worry about real estate in Canada. There is no economic freedom under Trudeau and it is up under Trump. Alberta has the highest and Quebec the lowest economic freedom in Canada. Boyd Group Income Fund (TSX-BYS.UN) was the best stock last year. Enbridge has come back and will do well.
On my other blog I wrote yesterday about Cenovus Energy Inc. (TSX-CVE, NYSE-CVE) ... learn more. Next, I will write about Johnson and Johnson (NYSE-JNJ) ... learn more on Wednesday, November 14, 2018 around 5 pm
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