Thursday, December 10, 2015

BNN Top Picks from Mike Newton: Home Depot, Luxottica Group, Vanguard FTSE Developed Europe All Cap Index ETF

Mike Newton, Director, Wealth Management & Portfolio Manager, Scotia Wealth Management
Focus: North American Large Caps & ETFs

It is at this time of the year when I go on a strict diet of avoiding the bountiful “Outlook / Forecast / 2016 Top Picks” buffets offered everywhere you look. No one ever has a precise view on where we are going to finish and when. The turning of the calendar from one year to the next has zero influence on great companies. Long-term investors should bypass this market timing discussion and stay long superb companies with positive trends. In my world, price is the ultimate arbiter of truth. So, until the current consensus trades start failing, stay with them. And when they begin to falter, have a playbook for the next non-consensus trade and reposition accordingly.
Top Picks:

Home Depot (HD.N -1.45%)
Last purchased on November 19th at $127.50 U.S.
Home Depot continues to execute very well, consistently delivering better than expected results in a challenging retail environment. The housing market remains robust, which is increasing customers’ willingness to take on more discretionary home improvement projects. The housing market in the U.S. will remain on a positive trajectory and that spending on home improvement will continue to be a bright spot supported by low gasoline prices and positive consumer confidence. (more)

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