Transcript: Sizzle Reel

By March 4, 2017Transcripts

https://robtetrault.com/bnn-sizzle-reel/

Rob: The market has traditionally been overblown on both sides. We know that when there’s blood in the streets, we should be buying. Warren Buffett’s been saying it forever. I’m a firm believer of that. And whenever we see an oversell, which I think is what we had 2015 and in January and in February, it’s time to buy, it’s time to come in. And I believe that long-term again, we’re going to be happy we bought in February, March.

I don’t want the dividend, honestly! Don’t give it to me. Invest it, invest it, invest it. Take care of it and make me more money than I can make with my 1%.

I’m a Manitoban. I’m a homer at heart, that’s why I cheer for the jets. And I’m certainly not a bottom picker, because I do enough of that at home when I change the diapers for my 3 kids. So this is not something that I want to specifically pick the bottom for. We just want to reduce risk.

What you should care about, Rovinescu is all your investors, whether they’re short-term, long-term and medium-term. You need to care about everyone, anyone who owns a stock at that particular moment. And he clearly slapped them in the face today. And they called his bluff. And you know what? The stock’s down 10%.

To me, it strikes of trying to go all in, in a poker game with a pair of 6s, when you know you’re beat. I just don’t like that move at all today.

Its problem, after problem, after problem, and my dad used to tell me, “Where there’s smoke, there’s fire.” So…

If that’s a play you want to make, I mean, just be aware that it could go severely south, but there’s obviously a lot more upside. You can’t have it both ways. You can’t have your lunch and eat it, too, right.

I’m concerned about the stimulus, for sure and I’m concerned about the budget to be frank, because I feel its partially imprudent spending. It’s a lot of billions of dollars that we’re going to be short. And how are we going to pay it back? I don’t like, as you mentioned that there is no roadmap. When are we going to pay it back? When are my kids going to pay that back?

Michael: That’ll be the question for finance minister. Thank you, sir.

Rob: Is it keeping you up? Is it something that’s affecting your health? And if yes, get out. If you have a well built portfolio, if you have a diversified portfolio, you will be fine. One holding will not ruin your portfolio. Get out, cut ties, and move on.

Anyone who’s panicking, anyone whose losing sleep over the market right now, it’s time for you to call your advisors to make sure that you know what some of the amazing buying opportunities are out there.

Sometimes you’ve got to get on the train, right? If it’s running away, you’ve just got to get on it and go for the ride.

Go jets, go!

Michael: Rob Tetrault, the portfolio manager at National Bank Financial, joining us from Manitoba.