Stan Wong (Scotia Wealth Management) is a very conservative investor (which is why he favours CNQ and SU, neither of which I own) but as can be seen, he also believes in the energy sector. GLTA
https://www.bnnbloomberg.ca/video/stan-wong-s-market-outlook~2516679
Favoured sectors right now.(A Commentary)
07/09/2022 at 08:00pm
A Comment -- General Comments From an Expert
Favoured sectors right now. Energy, healthcare, and financials. Energy has a major supply/demand imbalance, along with major under-investment over the years. So pricing can remain pretty firm, with demand steady. Healthcare has that combination of growth, defensiveness, and dividend yield. Financials are fairly inexpensive, both insurers and banks, and provide great income through their dividends. They tend to do well at the beginning of a cycle, and he may be a bit early, but he's being paid to wait with those great dividends.
UNKNOWN
Stan Wong
BUY
Suncor Energy Inc(SU-T)
07/09/2022 at 08:00pm
Trading at 200-day MA, a potential support level. Serious imbalance with supply/demand. Russia-Ukraine situation will affect supply, which should firm up prices. 12% dividend increase, doubled share repurchase plan. Free cashflow yield is very strong, about 16-17%. Yield is 4.7%.
INTEGRATED OILS
Stan Wong
$40.100
Owned