BNN - Friday, May 24, 2024 - 12:00 p.m. (ET) - Segment #4

and cnq. >> Andrew: but you are pessimistic or cautious on oil prices right now? >> I think so, yeah, if you look at the inventory statistics over the last few weeks they have been pretty soft. The retail sales that came out in canada this morning and canada is just a small country but fuel sales is one of the declining categories, right. So you are seeing that kind of across the board. And you know we will see if we get more stimulus then there might not be -- if we don't get more stimulus and rates stay high we think it will be hard to avoid the demand picture for oil we don't think it's disastrous or anything but we don't think it's going to 110. >> Andrew: okay. Thanks for the question, joseph. >>> We will be back with ryan bushell, president and portfolio manager at newhaven asset management. Dividend stocks, canadian dividend stocks are on the menu. [ ] to find a food star gordon faces his biggest rival ever. Who wants to be on team Vanderpump? It's team lisa vs team gordon She can Vanderpump off. We're done on ctv Text on ScreenText on ScreenText on ScreenText on ScreenText on ScreenText o In an ever changing market, invest in the essentials because there was always a need for multi residential, warehousing and logistics, essential retail, and renewable infrastructure assets. Build your client's portfolio with an investment strategy grounded in the needs of Canadians. Access tax efficient, institutional quality hard assets backed by a track record of steady performance and consistent distributions. Contact a Skyline Advisor today. Take advantage of historically high yields while reducing risk. Td Asset Management offers a large suite of active and passive fixed income investment solutions that can provide income and stability to your portfolio. Td Asset Management. So, it's a financial approach that just flows together. Kinda like this: Investments in the front... Insurance in the back. We do both. [phone ringing] ( ) Closed captioning of this bnn Bloomberg program is brought to you by Stenner Wealth Partners of cg Wealth Management. Outgrown your advisor? We manage portfolios of over 10 million dollars. >> Andrew: nizar is standing by in scarborough, ontario. Go ahead, please. >> Caller: hi, andy. Hi, ryan.

>>> May I have your thoughts on manulife financial, please. It has had good run since its last quarterly results. Do you see much up side in the stock from there? And if I may, would you comment on lifecos over banks in the current interest rate environment? Thank you for taking my call. >> Andrew: thank you. >> So good question. I'll deal with the last part first. So lifecos have been outperforming banks. For the most part it's bank performance obviously has been pretty disparate between royal at the top and td at the bottom and kind of everything in between. But broadly speaking lifecos have outperformed. Manulife is a company we have owned at a full weight forever at it would be 20 -- I always call it charlie brown with a football. $22. It would get up to 28. Would you think you were going to 30 and the football would get pulled away and fall down. Finally now we have broken out of that 15 year trading range. We always thought that the company would -- that it had good assets eastern timely running properly. Big overhang on the U.S. long-term care portfolio that people just hated the company forever because of it. Eventually they will get it fixed. Even if he first signs of it getting fixed you get almost a 15% move in the company. Shows kind of the power behind it. Plus you are getting a good sized dividend yield along the way. We like it from here. Obviously it's tarred to buy at 35 than it was at 256789 so we are only buying partial positions for in clients. We probably think it goes further. In terms of banks over lifecos that might be getting extended now but the next couple of years for banks I am not sure look super attractive. I think they will be final but I don't think they will go great guns. I would say I like manulife specifically. I don't like -- sun life's results were weaker so it's not all the lifecos by like manulife in the current environment going forward. >> Andrew: peter is in whidbey, ontario. Go ahead, please. >> Caller: thanks for taking my call. Appreciate it.

>>> Ryan, I bought rogers about two or three months ago around 51, 50, 52 bucks. And I bought -- and I understand the integration of rogers and shaw's gone well and I know the telcos are kind of bad favour now. I just wonderer what your thoughts are of the future of rogers and the telcos. I'll hang up and listen. Thank you very much. >> Yeah, good question. So I like the company, the space. We don't own rogers. The one we don't own. I -- we own shaw and got taken over thinking it was getting taken over by rogers and it did it so that worked out quite well for us. We haven't gotten back into rogers even though it's had pretty good runs and declines since. A hidden asset value in rogers, right. You have the sports teams, the blue jays, that are saleable. There are buyers for those assets. And to us it makes sense for them just to pull the trigger on one of those sales now. Bce as well frankly. We think sports valuations are pretty toppy. And the vertical integration aspect of it isn't what it used to be because the linear tv product is declining so much. So if I was them I would be looking to sell at least a portion of those assets and pay down debt. And I think investors would like that. >>> Easier said than done but that's something we think is a catalyst that's not really well talked about in the shares. So we will see. It will be tough for the telcos for the next couple of years so on bce or telus or whoever this is not going to get better really soon but we think on a long-term basis they are good buys down at these levels so we -- I like telus better. We will talk about it in the top picks. I don't have a problem with rogers at this level either. >> Andrew: okay. An email from douglas. Ryan, your thoughts on cnq. You've touched on this one. Anything else to think about when it comes to cnq? >> Just hope for down draft in the price of oil down 10 bucks and then buy some. That's what I would look for. Look for it around 90. It will get there. It will happen at some point. There will be some sort of a scare. If it doesn't we are already long so we won't toob disappointed. I think there is a good chance that happens. I don't think would you want to be going into them whole hog after the run they have had. Usually get an opportunity now the cycle could be different. Maybe I am jaundiced by the last 15 years of watching them gup the hill and then fall down it. I think you will get a shot at it somewhere in the 90s for sure. >> Andrew: antony in ridgeway, ontario. I could get ryan's opinion on brookfield infrastructure. >> Yeah, we like it. I think the last time I was on it was a top pick. The energy assets that they have in western canada are kind of understated and I have talked about the opportunity there so I think it participates in that as well as having a global suite of infrastructure assets that you just couldn't find in any one company and certainly not any one canadian company and certainly not in an are rrsp at a discount to where the corporate shares are trading. It's a huge discount. Almost 20% discount. >> Andrew: between the two classes? >> Yes, between the corporate shares and the dot un shares. Institutions can not own the un shares. You as a canadian investor can put it in your rrsp and not pay any tax on the distribution until you take it out or even tfsa even better and then get the stock at a discount. I am not staying that discount closes by the units trading up. There will always be a discount there but at least you are buying it with a margin of safety and extra yield. So if you are an investor that has a nontaxable account and this is what we do for our clients we tend to put the dot UNs for brookfield into the nonregistered -- sorry. Into the registered account. >> Andrew: mm-hmm. Very interesting. Okay. We will take a quick break and when we come back we will get ryan's top picks coming up after this. [ ] The Harvest Diversified Monthly Income etf. Consistent monthly income. The Harvest Diversified Monthly Income etf. Hdif on the tsx. Invest in the top performing Canadian bank etf, hcal from Hamilton ETFs. Hcal offers enhanced growth potential and higher monthly income for long term investors. Get more with hcal, the top performing Canadian Bank etf. Hi I'm Taylor Thoen. Coming up on btv. There's been over 11,000,000oz of additional resources found since 2020 by people working in the Tombstone Gold Belt in the Yukon. To date, we've only found that two deposits. But there's nine known gold bearing intrusions on our rc gold project. More potential outside of the discoveries that we've made already.

Watch us online or here on bnn Bloomberg. >> Andrew: look at the all all-star line-up next week. We have jason del vicario monday on global and north american stocks. Alex ruus kicks in north american stocks. Hap sneddon technical analysis on wednesday. Andrew moffs is talking real estate on thursday and friday drum roll rick rule the one and only on natural resource ideas. Yes, all-stars all the time on "market call" next week. [ ] If you are an entrepreneur, you know what it means to be always invested. Grabbing hold of an idea and seeing it through, meeting old challenges with fresh solutions and believing in the power of tomorrow. We know because we're the exchange for entrepreneurs and we're always investing in public markets, in business, in growth, in you. Harvest Equal Weight Global Utilities Enhanced Income etf. The world's top utility companies in one etf, global Utilities and steady monthly income. Harvest ETFs, income happens here. The future is zero Carbon. Mayfair Gold is developing Canada's first carbon neutral gold project with offsets funding residential solar panel installation across the country. Mayfair Gold. Get all the benefits of a bond and more in an exchange traded fund. Introducing the td Target Maturity Bond ETFs a new suite of fixed income investment solutions that are designed to act like individual bonds, providing income and final payout on specific maturity dates with the added benefit of liquidity, diversification and professional management from a leading asset manager in Canada. Td Target Maturity Bond ETFs. Top Picks is brought to you by Questrade, Give your trades an edge with our new advanced mobile app. >> Andrew: let's get to the top picks starting off with telus. >> I gave it away earlier. In an environment where our portfolio has done quite well and a lot of our favourite companies we still think they are attractive kind of globally relative to what's is out there i.e., nvidia at a thousand dollars. If there is nvidia added the market cap of advanced micro device yesterday so that's interesting. It shows you how much money is there versus in telus or bce or any of the canadian companies. We had I that there is still attractive globally. Telus specifically they are further along in their fiberoptic build so free cash flow should start inflecting higher areas starting to inflect higher and should continue to shortly. There is a bit of a question about management success there which I they succession which I think is valid. They don't have exposure to the media side of the business both bce and rogers. You don't have that exposure. And you still got a long-term growth and population growth and data demand more devices connected to the internet than people are willing to pay services for. So we still like the company on a long-term basis and you are getting it almost at 7% yield. >> Andrew: okay. Telus of course competes with our parent company bce.

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