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| TOP PICK | 9.000 | Jean-Francois Tardif | Recession proof type of company. Basically a consultant for pensions. Business has grown every year for a long time. Very profitable business. About 14% free cash flow yield. | 2008-10-17 | |
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| TOP PICK | 10.800 | Michael Simpson, CFA | Pension benefiting consulting. Employees’ assistance program area. This is a growing area in the corporate world. About 85% payout ratio. Thinks they can grow their cash flow at 6% to 7%, which is not being reflected in the market. | 2008-09-19 | |
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| TOP PICK | 11.500 | Jean-Francois Tardif | Pension plan management. Large market share, just bought company that provides services to employees – growing at 20%+ per year. Thinks will beat numbers. Safe. Will grow over time. 8.3% yield. | 2008-06-23 | |
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| HOLD | 13.000 | Andrew Guy, CFA | Consultant on pension plans. Largest Canadian company in this sector. Carved out a very nice niche in the mid-caps. 7% yield. Good long-term hold. A little bit expensive. | 2007-06-27 | |
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| PAST TOP PICK | 12.990 | James Leung | (A Top Pick Nov 11/05. Up 25%.) Revenues are very steady. Should continue to do very well. Continue to hold. | 2006-01-27 | |
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| PAST TOP PICK | 13.000 | Greg Guichon | (A Top Pick Oct 21/05. Up 32%.) Still likes it. Still buying. | 2006-01-20 | |
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| TOP PICK | 10.400 | James Leung | One of 3 benefit/pension consultants in Canada. A lot of their revenues are locked into multi-year contracts. There is a constant need for companies to outsource their pension/health benefits programs. | 2005-11-11 | |
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| TOP PICK | 9.750 | Bruce Hartman | A great Canadian success story. A benefits consulting firm. Yields a little over 9%. Extremely good quality trust in that about 95% of its revenues recur every year. Once they start consulting to a company, it essentially becomes a recurring stream of revenue. | 2005-10-21 | |
Experts that have talked about Morneau Sobeco Income Fund
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