Keith Richards’ Top Picks for November 25, 2024 – BNN Bloomberg
The stock market has been hitting new highs recently, with major indices on the rise and momentum indicators looking strong. Valuations may be high, with a trailing price to earnings ratio of 30, but history shows that they can go even higher before a market correction.
Technical analysis suggests that the market is in a good place for now, with moving averages supporting current levels and pointing higher. Market breadth remains healthy, sentiment indicators are not excessively optimistic, and we are in the seasonally best six months of the year.
Keith Richards, president and chief portfolio manager of ValueTrend Wealth Management, has shared his top picks for investors. He recommends Arc Resources (ARX TSX), which is experiencing a breakout, Global X Silver Miners ETF (SIL NYSE), which is testing support after a pullback near $36, and Berkshire Hathaway (BRK.B NYSE), a more conservative option with a value and cash component built into the fund.
Looking back at his past picks from August 26, 2024, Richards discussed the performance of Ford Motor, BMO EW Glbl Base Metals ETF, and VanEck Oil Services ETF. While Ford Motor saw a 2% return, BMO EW Glbl Base Metals ETF yielded a 9% return, and VanEck Oil Services ETF had a minimal 0.1% return.
As always, it’s important to consider your personal, family, and portfolio/fund situation when making investment decisions. Keep an eye on the market trends and remember to diversify your investments for a balanced approach to financial growth.
