--- title: "Livewire Buy Hold Sell: The crowd's favourites for 2017" description: Join Ben Rundle from NAOS Asset Management and Chris Stott from Wilson Asset Mgmt to see if the wisdom of crowds aligns with that of professional investors. --- ##### [Subscribe to NAOS NEWS & Insights](https://www.naos.com.au/subscribe) [![](https://assets.website-files.com/5b3d7f5582ecae7f1e026ce2/60be9de099c2716fb2efb4a7_naos.svg) ![](https://assets.website-files.com/5b3d7f5582ecae7f1e026ce2/640666256ede5e8ae8e33da0_B-Corp-Logo-Black-RGB.png)](https://blog.naos.com.au/) [Home](https://www.naos.com.au) About [About NAOS](https://www.naos.com.au/about-our-firm) [Our Team](https://www.naos.com.au/about-our-firm#people) [Why invest with NAOS](https://www.naos.com.au/about-our-firm#why-invest) [Our Investment Beliefs](https://www.naos.com.au/about-our-firm#beliefs) [Our Investment Process](https://www.naos.com.au/about-our-firm#how-we-invest) Listed Investment Companies [NCC: NAOS Emerging Opportunities Company Limited](https://www.naos.com.au/ncc-naos-emerging-opportunities-company-limited) [NSC: NAOS Small Cap Opportunities Company Limited](https://www.naos.com.au/nsc-naos-small-cap-opportunities-company-limited) [NAC: NAOS Ex-50 Opportunities Company Limited](https://www.naos.com.au/nac-naos-ex50-opportunities-company-limited) [Our Listed Investment Companies](https://www.naos.com.au/our-lics-compare-our-lics) [How to Invest](https://www.naos.com.au/our-lics-compare-our-lics#how-to-invest) Private Opportunities [NAOS Private Opportunities Fund](https://www.naos.com.au/npof-naos-private-opportunities-fund) [NAOS Ideas Network](https://www.naos.com.au/naos-ideas-network) E.S.G. 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We’re only one month into 2017, however, there has already been plenty to keep investors on their toes. The average price change across the stocks is +3.2%, vs ASX200 at -0.5%. This is driven in large part by CSL (+11.7%) on the back of a surprise profit upgrade, and BHP (+8.0%) on strong operational metrics. Rising interest rate expectations have seen financials well bid, and takeover rumours around QBE has added some spice. Join Ben Rundle from NAOS Asset Management and Chris Stott from Wilson Asset Management to see if the wisdom of crowds aligns with that of professional investors. **BHP Billiton (BHP)** Stott: **Sell** James. The easy money's been made in resources, over the last six to nine months in particular so sell. Rundle: It's a **hold** for me. I think they'll still report quite well and they're still churning out a lot of the commodities that have done reasonably well in terms of price. They'll punch out as much volume as they can so the cash flow will be good. **National Australia Bank (NAB)** Rundle: NAB's a **buy**. I think the banks are all right at the moment. Net interest margins look like they're turning upwards and they're raising rates out of cycle, which is positive for them so buy for NAB. Stott: **Hold**. Update we'll be watching for next week. The banks have certainly had a large run in the last quarter so hold for now. **CSL Limited (CSL)** Stott: **Sell.** Sell the upgrade. Good little upgrade from CSL but it still looks quite expensive on a relative basis for us so sell for now. Rundle: **Sell** for me. I agree with Chris too. I think the drivers behind that upgrade, you won't see them coming through in the second half. So sell. **Macquarie Group (MQG)** Rundle: Macquarie's a **buy**, I think. It's well run now. They've got some good structural growth options and it's pretty cheap. Cost of capital is still pretty attractive so buy. Stott: Agree with Ben. **Buy**. They're in an upgrade cycle and a few of their sectors look ripe for the picking over the next few years. So a good spot at the moment, buy. **QBE Insurance (QBE)** Stott: **Buy** but after the result. We think that clearly this takeover speculation could be in play but generally they tend to disappoint on result day so cautious on result day but perhaps buy after that. Rundle: **Buy**. I'd agree on Chris' point after the result too because typically they don't report all that well. Rate premiums certainly look to have improved a little bit and maybe they'll get a kick off improved bond yields from their investment portfolio too. It's a buy. [Buy Hold Sell: The crowd's favourites for 2017- Livewire](https://www.livewiremarkets.com/wires/34279) ###### [Articles of Interest](https://blog.naos.com.au/news-media/topic/articles-of-interest) [News](https://blog.naos.com.au/news-media/topic/news) [NAOS in the News](https://blog.naos.com.au/news-media/topic/naos-in-the-news) ###### Share this post ### Comments ##### NAOS Asset Management ![](https://uploads-ssl.webflow.com/5b09df434e359cb73f2f80b5/5b09df434e359c362d2f81c4_location-icon-white.svg) Level 34, 25 Martin Place Sydney NSW 2000 ![](https://uploads-ssl.webflow.com/5b09df434e359cb73f2f80b5/5b09df434e359c121c2f81c8_mail-icon-white.svg) [enquiries@naos.com.au](mailto:enquiries@naos.com.au?subject=NAOS%20Website%20Contact) ![](https://uploads-ssl.webflow.com/5b09df434e359cb73f2f80b5/5b09df434e359ce0f62f81c9_phone-icon-white.svg) +61 2 9002 1576 ##### Our Listed Investment Companies [ASX: NCC - NAOS Emerging Oportunities Company Limited](http://www.naos.com.au/ncc-naos-emerging-opportunities-company-limited) [ASX: NSC - NAOS Small Cap Opportunities Company Limited](http://www.naos.com.au/nsc-naos-small-cap-opportunities-company-limited) [ASX: NAC - NAOS Ex-50 Opportunities Company Limited](http://www.naos.com.au/nac-naos-ex50-opportunities-company-limited) [NAOS Private Opportunities Fund](https://www.naos.com.au/npof-naos-private-opportunities-fund) [Listed Investment Companies](http://www.naos.com.au/our-lics-compare-our-lics) [Share Registry](https://boardroomlimited.com.au/) [Corporate Governance](http://www.naos.com.au/corporate-governance) ##### More Links [Privacy Policy](http://www.naos.com.au/privacy-policy) [Terms & Conditions](http://www.naos.com.au/terms-conditions) ##### Follow NAOS [![](https://uploads-ssl.webflow.com/5b3d7f5582ecae7f1e026ce2/5b3d7f5582ecae7e51026d27_twitter-icon-white.svg)](https://twitter.com/naosassetmgmt) [![](https://uploads-ssl.webflow.com/5b09df434e359cb73f2f80b5/5b09df434e359c11092f818c_facebook-icon-white.svg)](https://www.facebook.com/NAOSAssetManagement) [![](https://uploads-ssl.webflow.com/5b3d7f5582ecae7f1e026ce2/5b3d7f5582ecae133c026dca_Group%20261.svg)](https://www.linkedin.com/company/naos-asset-management) [![](https://uploads-ssl.webflow.com/5b3d7f5582ecae7f1e026ce2/5bf6115a4ae34255e68089e1_Asset%201Chart4.svg)](https://www.instagram.com/naos_asset_management/) Join our investment community. 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