David Burrows.
David Burrows is president and chief investment strategist of Barometer Capital Management. His focus is on North American large caps.
Top picks:
Honeywell (HON-N)
A high-quality industrial that has managed to grow EPS at an impressive 12-per-cent rate over the past 12 years. It is an enabler of the Internet of Things and we expect this to be a growth driver going forward.
Bristol-Myers Squibb (BMY-N)
It is the leader in immuno-oncology and can double its revenue over the next 10 years.
Broadcom (AVGO-Q)
Leading semiconductor company with strong exposure to both next-generation data centres and mobile phones. Potential for margins to be much higher once they complete the integration of legacy Broadcom.
Past Picks: July 9, 2015
Electronic Arts (EA-Q)
Then: $70.50 Now: $74.52 +5.70% Total return: +5.70%
Goldman Sachs (GS-N)
Then: $204.81 Now: $146.19 -28.61% Total return: -27.52%
UnitedHealth (UNH-N)
Then: $119.34 Now: $137.87 +15.53% Total return: +17.00%
Market outlook:
We are long-term bullish on North American equities, though markets will be news-driven in the near term until after the Brexit vote. We see equity valuations as attractive relative to little-to-negative yielding sovereign debt and expect equities to be revalued over time.