Investment Q&A

Q: Barry Ritholtz: Some investors have big, concentrated equity positions that have accrued big gains. Maybe it’s due to employee stock option plans. Perhaps they have some founder stock from a startup. Maybe there was an IPO or a takeover.

But suddenly they find themselves sitting on an uncomfortably large percentage of their portfolio in a single name. The challenge for investors is how can they diversify when selling shares leads to owing big capital gains? What’s an investor to do?

I’m Barry Ritholtz and on today’s edition of at the money we’re going to discuss how to manage concentrated equity positions with an eye towards diversification and managing big capital gains taxes.

To help us unpack all of this and what it means for your portfolio Let’s bring in Meb Faber He’s the founder and chief investment officer of Cambria. The fund runs 15 ETFs and manages nearly 3 billion in assets. Their new ETF is coming out in December 2024: The Cambria TaxAware ETF – symbol TAX – is a solution to address just these challenges of concentrated positions.

The above quote is intriguing. If I understand it correctly It will allow a tax deferred diversification from a single holding with large capital gains. It hardly seems possible. If I read this correctly, will this etf be available for Canadians? How do you view it?
Thanks

Q: GLXY trades on the TSX yet is headquartered in NY, how does that work?
I sold half my bitcoin position and plan to replace with GLXY at some point, what would you consider a good entry point/price?

Q: With the runup in bitcoin to $100K, do you think there's more potential in etherium and if so, what would be the best ways to play it?

thnx in advance
Dave

Q: In my RRif I own Key & PPl, high yielding stocks to help cover forced withdrawals.
They declined on Friday despite a drop in bond yields.
So you think the decline was due to a drop in Wti?
Trump intends to increase tariffs which could result in higher interest rates due to inflation and his energy policy could lead to lower oil prices.
As a result of the above should I reduce key & Ppl & invest the proceeds into companies that will benefit from higher interest rates such as Mfc & Slf

Q: Could I please get your thoughts on Apple’s recent announcement that they will start using their own inhouse developed modem to replace the presently used Qualcomm modem. I presently have a 50% gain. At this time would you recommend Sell, Hold or Buy. Thanks … Cal

Q: Greetings 5i
It looks like this preferred is going to be redeemed at $25. Do you know when this is to occur?
Also, and more importantly, why would a company, in todays interest rate environment do this? Has L stated their motivation?
Thank you as always.
SP

Q: Hi there. I'm wondering your thoughts on a web browser company using AI that has their own VPN. It is growing their business in South East Asia, Eastern Europe and Africa. As more and more people start having access to the Internet and the company seems to now be profitable, what are your thoughts on Opra? Ticker OPRA. Thanks, in advance!

Q: Which would you buy today?

Q: Hello 5i

What's going on with the Loblaws preferred shares this morning? Should I sell now or wait? I have 5000 with an average price of $20.80 per share.

Thanks

Q: Hello 5i,
Is it better to hold DLR or DLR.U if the US currency is strengthening against the Canadian dollar?
Thank you for help.

Q: Could you please clarify your answer to Bruce Dec 5. In your answer you first say NVDIA as the 'if we have to pick one' but then you go on to say if an investor is looking at only one, you say you would be picking BN should be the investors choice if choosing only one ?????
Also, the ranking doesn't seem to match up with those comments...please expand.

Q: Hi Team,
What would be some of your best ideas in the small/ mid cap space today either US or CND that you see having the best potential over the next decade (medium risk). Or alternatively if I wanted to play it safer what US based etf would be suitable to play the theme here assuming small and mid caps will show outperformance in the next few years? I am leaning towards the US sector as outperforming canada at least in the next few years.

Shane.

Q: Looking at a 3 to 5 year timeframe - please compare the two companies and advise which one you would buy and why..
Thanks. ram

Q: Please comment on earning. Thanks a million.

Q: Please comment on Docusign and whether you would continue to hold (if owned) or sell into the latest strength

Q: Given all the negative news and the recent "retirement" of the CEO, what are your thoughts now on INTC? Has the last shoe finally dropped or can it get worse? Hard to believe the US gov would let the company dissolve given its desire to maintain leadership in chip design and production (although INTC has not been a leader in either for some time). Is this stock worth buying as a (gradual) recovery play or as a takeover target? Thanks.

Q: I purchased the above three ETFs

MAGS for Mag 7

IGV for Software and

BUG for Cyber Protection

Have I got the good areas Covered with these three purchases What other areas should I purchase RAK

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Q: TH They make a lot of announcements but shares don't move much.

Is it just too small a company or do they not have the right products for the masses ? RAK

Q: I'm considering opening a TFSA for a spouse who has a low income. However, he is considered a dual citizen. There seems to be conflicting advice about whether it makes sense to open a TFSA for someone considered a dual citizen,.
Can you clarify this?

Q: Hi 5i,

Currently hold shares of INTC at a loss and have held the stock for a few years.

Purchased the stock on the thesis that Pat Gelsinger would potentially execute his his plan to build additional foundry's in North America as an alternate to TSMC. Tailwinds of "on shoring" government incentives and the growing "AI boom" market lead me to believe that this was feasible.

Given Pat Gelsinger is now retiring and INTC execution issues I no longer believe that will be the case. I have held on to the stock for now due to the low valuation and the potential that it would be broken up and sold off.

Would appreciate you thoughts on whether or not it makes sense to hold onto.

Would also appreciate your thoughts on potentially switching from INTC to ASML.

Thank you,

Greg C.