Rob Sechan, Managing Partner, New Edge Capital

Bought it last week. A leading luxry brand with profits like a software company. Limited production fuels their pricing power and competitive advantage. Trades at 4x profitable of a carmaker and 2x the consumer discretionary sector.

In 2024, they will continue to execute, but will it be the best-performing tech stock? No. It may even lag peers. That said, MST is his biggest position and will hold on.

Nvidia has been the most exciting name in AI this year, but is up only 1% since late August, while AVGO has been up 23%. Invstors are looking beyond the obvious names and will continue to buy names like AVGO.

The sector is up 50% to date, but the revenue outlook is muddy due to the macro economy. So, he expects weaker demand for smartphones.

Sold it because of the slowing economy, and the company suffers from higher costs and lower volumes.

He sold Abbvie. He likes pharma, but this is a weaker name that's facing more competition.

He bought Comerica. Shares are down 30% this year, but recently it's breaking out. The regional banks are breaking out as a whole. The valuation is discounted at 7x PE 2024 and pays a 6.5% dividend yield. It's a larger regional in the healthy southern States and has less-than-average real estate exposure. Has healthy capital levels.

He added more shares of BABA today. It's an underrated grower at a reasonable price. It's a turnaround story reflecting the revival of the Chinese consumer. They dominant e-commerce in China, their cloud business is overlooked and cash flow yield is in the mid-teens. Trades at a 30% discount to its historic average.

Has long owned this. Got upgraded today. Pays a 3% dividend yield and trades at 15x forward PE. Healthcare will improve in 2024.

It reports next week. He wants to see around 5% revenue and earnings growth with demand growing as margins hold steady. Watch for guidance about data centre demand. A great way ex-Nividia to play AI. 

A way to play the semis, trades cheaply and 62% operating margins.

It's not his thing, but there's a lot of support for gold heading into year's end, because real interest rates are declining. 2013 and 2017-2018 saw good returns for gold. It's viewed as a hedge against geopolitical risk and inflation.

They reported yesterday and expectations were great, but the report was not great. Hence, shares are weak today. It trades at 14x 2024 sales, which few companies can achieve. Tesla was one, and when they reached that, they had a 70% drawdown.

Driving the market to new highs near-term: interest rates are coming in, investors including himself are not taking gains including in the Magnificent 7. True, markets are overbought in the near-term, but he doesn't see a catalyst for a sell-off. Next year is a different story.

Enjoys solid trends in its core business, and trades at 11x PE and a 30% discount to its peers.