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| PAST TOP PICK | 36.110 | Colin Stewart | (Top Pick Feb 4/11, Up 6.42% Total Return) Sold a long time ago at a small gain. | 2012-02-07 | |
| PAST TOP PICK | 33.630 | Barry Schwartz | (A Top Pick Dec 7/10. Up 16.85%.) Would like to see them raise the dividend. Would also like to see them make some acquisitions. Have a lot of cash on its balance sheet. Company has been buying back stock when it dipped below $32-$33 indicating they believe there is value in the stock. | 2012-01-16 | |
| PAST TOP PICK | 32.600 | David Baskin | (A Top Pick Dec 22/10. Up 9.46 %.) Wish they would raise their dividend instead of buying back shares. Still likes. | 2011-12-19 | |
| PAST TOP PICK | 33.110 | Barry Schwartz | (A Top Pick Dec 7/10. Up 18.83%.) Best time to find great opportunities with low interest rates and distressed assets. Expect there will be a flurry of activity in the next couple of years. | 2011-12-12 | |
| DON'T BUY | 37.030 | Richard Fogler | Bought a year ago. Great record in private equity. It’s moved up a lot from where it was a couple of years ago and is not cheap any more. Likes the company but would not be now. | 2011-07-22 | |
| PAST TOP PICK | 35.070 | David Baskin | (A Top Pick June 3/10. Up 33.77%.) Manages a tremendous amount of money and gets 20% on any profit. Always trades at a discount to its NAV, which he currently thinks is 20%. Still a good buy. | 2011-06-16 | |
| BUY on WEAKNESS | 36.570 | Ara Nalbandian | Selling the Husky International Molding business at a very good price. Have a couple of other businesses that are potentially for sale. Trading around NAV right now. You'll have to be very patient to see more shareholder valuation.Try to buy in the low $30s. | 2011-05-11 | |
| HOLD | 32.380 | Don Vialoux | Nice upward trend. Now we see signs of it reaching a resistance level. Yesterday it moved through a medium term support level. You have an early warning signs that this stock is not going to go higher. Watch this carefully. | 2011-03-18 | |
| TOP PICK | 33.930 | Colin Stewart | Leading Canadian equity firm. Portfolio of public and private investment worth, on a Net Asset Value basis, around $35 a share. The more interesting component is their very large asset management business of about $7 billion, which he believes the market is overlooking. | 2011-02-04 | |
| TOP PICK | 30.240 | David Baskin | (A Top Pick Dec 15/09. Up 26%.) Very smart management team. Changed the company into an asset management. During hot stock markets when companies can go public, they can exit from some of these very profitably. Managing huge pools of private capital and has a “carried interest” giving it both management fees and 20% of the profit. | 2010-12-22 | |
| TOP PICK | 28.700 | Barry Schwartz | They were dormant in all of 2009. They just made their largest acquisition to date. Flush with cash. Thinks there are tricks up their sleeves. Expects a dividend increase in 2011. Maybe they will spin out their asset management business and may be buying back shares. | 2010-12-07 | |
| PAST TOP PICK | 28.920 | David Baskin | (A Top Pick Nov 19/09. Up 27.28%.) This one does really well in a hot stock market. Still a Buy. | 2010-11-09 | |
| PAST TOP PICK | 30.280 | David Baskin | (Top Pick Nov 19/09, Up 29%) Still cheap. People will get more interested in this one as they exit some of their past investments. | 2010-10-18 | |
| HOLD | 28.750 | Don Lato | Reasonably valued at these levels. Recently made a couple of acquisitions. | 2010-09-08 | |
| TOP PICK | 26.420 | David Baskin | Trades at a significant value to the value of its assets. Don’t know when those assets will be liquidated. Could be $3-5 of hidden value. | 2010-06-03 | |
| PAST TOP PICK | 28.300 | David Baskin | (Top Pick Mar 12/09, Up 88%) One of the biggest employers in Canada. No one knows how to value it. It’s driven by events. | 2010-03-16 | |
| BUY on WEAKNESS | 28.060 | Bruce Campbell | Holding company with a great long-term track record. Recently purchased this at around $24. About $8 a share in cash and an asset value of about $38. We prefer it down $1 or $2.. | 2010-03-15 | |
| BUY | 28.150 | Peter Brieger | If you want a first-class equity company, buy this one. Trades at a discount to NAV of around $33. First-class management. You'll have to hold it for about 5 years but should do quite well. | 2010-03-12 | |
| PAST TOP PICK | 25.100 | David Baskin | (Top Pick Mar 12/09, Up 67.58%) Still likes it. | 2010-02-25 | |
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| PAST TOP PICK | 24.730 | Greg A. Taylor, CFA, BBA | (A Top Pick Mar 19/09. Up 68.78%.) Easy money has been made and is now just a Hold. | 2010-02-09 | |
| BUY | 25.150 | Paul Harris, CFA | In a very solid position with lots of cash to buy assets. Very good at buying assets very cheap and then restructuring and selling. There are 2 headwinds they face now. 1.) Big pension plans are competing for their assets so they could end up overpaying. 2.) It is not a public company in that Jerry Schwartz runs it his way. | 2010-01-18 | |
| BUY | 23.550 | Barry Schwartz | Hasn't been great in the past two years but has moved up. A lot of great assets and a lot of cash. Smart management. Management is buying back shares. The sum of the parts = $35 or $40. | 2010-01-04 | |
| TOP PICK | 24.000 | David Baskin | Holding company whose individual parts are probably worth high $30's. Expect there will be dispositions in 2010. | 2009-12-15 | |
| BUY | 24.000 | Ara Nalbandian | (Market Call Minute) trading at about 20% discount. Are well prepared to take advantage of opportunities in this environment. | 2009-12-15 | |
| BUY | 23.350 | Bruce Campbell | Lots of cash. Trading at a fair size discount to NAV. Long-term track record of investing is great. You'll have to be patient. | 2009-12-07 | |
| DON'T BUY | 23.550 | Jason Donville | There are a lot of really good businesses in this company but the bundles are sometimes hard to value. If they could look at changing the structure or finding some catalyst to give people a greater sense of the value, it could really take off. Doesn't seem to be a lot of interest in it. | 2009-12-03 | |
| BUY | 23.200 | Barry Schwartz | Is buying heavily right now. Company and partners are heavily buying back stock. It’s out of favour right now. It would be smart to increase its dividend. Thinks they are looking at a major acquisition. | 2009-12-02 | |
| TOP PICK | 23.470 | David Baskin | Deep value stock with about $8 a share in cash. Has a bunch of public companies that you can value, private companies that are harder to value and management contracts for a whole whack of money. Add it all up and he thinks it's worth $40 a share. Thinks they will monetize some of their investments. | 2009-11-19 | |
| STRONG BUY | 23.930 | Barry Schwartz | Well run and has a lot of great assets. Always trades at a discount to its break-up value. Currently worth about $35 a share. Sitting on a pile of cash. | 2009-11-10 | |
| TOP PICK | 20.540 | Bill Carrigan | Like the aerospace and industrial components. Thinks growth will be more on the global industrial side. Sitting on a lot of cash and he hopes they will do something with the money. If they announce a share buyback he would sell. Stoploss $17.20. | 2009-07-02 | |
| BUY | 22.060 | Peter Brieger | (Market Call Minute.) Great long-term buy. Every portfolio should have some exposure to private equity. | 2009-06-16 | |
| SELL | 22.500 | Greg A. Taylor, CFA, BBA | (Market Call Minute.) Had a big bounce to its NAV and he would hold to look to Sell. | 2009-05-07 | |
| BUY | 15.830 | Paul Harris, CFA | Well run company and smart operators that are facing a lot of competition, which has hurt them over the last several years. This is a great opportunity for them as they have the ability to buy assets. | 2009-03-26 | |
| TOP PICK | 14.760 | Greg A. Taylor, CFA, BBA | Have a pool of funds that they invest for clients. Hasn't really participated in the run-up of the financials right now. Also trading at a big discount to its NAV of $27. Have $4 of cash per share. | 2009-03-19 | |
| TOP PICK | 15.070 | David Baskin | Have 4 assets by class including shares of publicly traded companies and cash, which add up to about $14 a share. Also lots of interest in private companies and $7 billion that it manages in private partnerships. | 2009-03-12 | |
| BUY | 16.350 | Peter Brieger | (Make investments directly and also managing limited partnerships for other investors.) This depends on how much private equity you want in your portfolio. He is a great believer in it and this company is a leader in Canada and has great management. NAV is around $30 so it is trading at a very heavy discount. | 2009-02-25 | |
| PAST TOP PICK | 28.860 | David Baskin | (A Top Pick Aug 23/07. Down 14%.) Tend to go up or down when they make a deal. Took a beating when banks stopped doing leveraged deals. Sharp management. Will continue to do well. | 2008-09-02 | |
| DON'T BUY | 33.010 | David Burrows | Great business and very well run in what they do. Environment is not suited right now to investing in this type of business. Always try to invest in sectors that have tailwinds. | 2008-06-16 | |
| BUY | 32.050 | David Baskin | Will make a lot of money from its managed limited partnerships, which are set up to do leveraged buyout deals. As usual, the pendulum swung too far and there will be leveraged deals done. | 2008-02-04 | |
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| SELL | 30.600 | David Burrows | You buy this one on an expectation that they can make new deals or can monetize old deals. In the current market people are not paying up for deals that could get monetized, As for new deals, raising capital is difficult. | 2008-01-18 | |
| PAST TOP PICK | 37.520 | Bill Carrigan | (A Top Pick Dec 6/06. Up 27.6%.) The chart still looks pretty good. He likes that it did not violate the summer low. Also, it recently came out with bad news and the stock rebounded today. | 2007-11-13 | |
| BUY | 39.100 | Peter Brieger | Long term Buy. Doing a great job in the private equity field, but more importantly they started a separate company to buy distressed debt. | 2007-11-06 | |
| PAST TOP PICK | 37.960 | Bill Carrigan | Then 28.60 up 31% Still a lot of upside. He doesn't own anymore, sold during consolidation. | 2007-10-17 | |
| TOP PICK | 33.030 | David Baskin | With the restriction of credit availability, people said no more LBOs (leveraged buyout). With fewer players in this market, Onex has fewer competitors and they can buy things at a better price. They apparently have an unlimited ability to raise money in Limited Partnership vehicles. | 2007-08-23 | |
| SELL | 32.510 | David Burrows | It is being impacted by some of the emotion in the market around private equity and some of the private equity takeovers. A lot of their earnings come from performance fees and their ability to take companies public. At this point, the air is coming out of the balloon. | 2007-08-09 | |
| PAST TOP PICK | 33.750 | Bill Carrigan | (A Top Pick July 17/06. Up 46%.) Had picked this one because he liked the aerospace. At the moment, he would stay away from it. | 2007-07-30 | |
| DON'T BUY | 33.300 | Brian Acker, CA | Only has one analyst’s estimate for this company. He requires 3 as a minimum. His model price is $31.25 based on the one estimate, so it is still over his model price by 5%. | 2007-07-27 | |
| Comment | 37.700 | Michael Sprung | Riding the crest right now of being a quasi equity firm within the Canadian context. Made some very positive news over the last couple of years. Would prefer around $35. | 2007-07-13 | |
| PAST TOP PICK | 37.940 | Bill Carrigan | (A Top Pick July 17/06. Up 65.1%.) He picked this one because he could see the aerospace moving up. The big move is probably over and it will consolidate. Would move somewhere else. | 2007-07-10 | |
| PAST TOP PICK | 40.630 | Bill Carrigan | (A Top Pick July 17/06. Up 78%.) This was in a space that he liked. It was under owned and under appreciated. Doesn't think this is over yet. | 2007-05-15 | |
| HOLD | 40.010 | Robert Floyd | This tends to be a late cycle stock simply because of the assets they have. Have been developing a lot of private funds as well. Very experienced management. | 2007-05-11 | |
| BUY | 38.790 | Michael Smedley | An extraordinarily large and powerful buyout firm. Good management. Well diversified. | 2007-05-01 | |
| BUY on WEAKNESS | 33.100 | Peter Brieger | One of the few public companies that you can purchase at a discount to its net asset value. Would buy below $30. | 2007-04-04 | |
| PAST TOP PICK | 32.500 | Bill Carrigan | (A Top Pick Dec 6/06. Up 13.6%.) It has 2 things going for it. It's an aerospace theme, which he likes, and it is a conglomerate. Thinks it should go higher. | 2007-03-27 | |
| BUY | 32.000 | Peter Brieger | A way to participate in private equities. This is probably a good place to buy if you have 3-5 year point of view. Good management. | 2007-03-21 | |
| BUY | 30.520 | Peter Brieger | One of the best and most convenient ways in Canada to participate in private equity. Terrific company and a great entry point. | 2007-03-02 | |
| HOLD | 30.810 | Michael Decter | Recently sold most of his position. Moving a lot of their investments into the aviation sector, which is probably smart long haul. Will probably go back into it at some time. | 2007-02-26 | |
| BUY | 28.050 | Peter Brieger | Highly capable management. If you want to have a play in private equity, this would be a stock to own. He is looking at it now. | 2007-01-15 | |
| TOP PICK | 28.360 | Bill Carrigan | (A Top Pick Feb 14/06. Up 52.7%.) This is a long-term play. Likes aerospace. Also likes conglomerates. Give it a few weeks to settle down to the lower trend line before buying. | 2007-01-12 | |
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| DON'T BUY | 28.290 | Michael Sprung | Acquiring Raytheon’s (RTN-N) business jets, which is somewhat confusing. Not a major player in the business jet market but have some well-known brand names. Expect Onex is looking at it as a turnaround possibility to make a profit on in a few years time. Suspects that some of their returns are not going to be what they used to be because of competition. | 2007-01-05 | |
| DON'T BUY | 28.720 | Robert Floyd | Getting reasonably rich. Would prefer to buy a little bit cheaper. | 2007-01-03 | |
| BUY | 28.740 | Norman Levine | Really a public hedge fund. Have been making some very good investments. They’re flush with cash. Will probably continue to do well. | 2006-12-20 | |
| TOP PICK | 28.600 | Bill Carrigan | Had a huge base in 2003 and another one in 2005 followed by a breakout in 2006. Just beginning. | 2006-12-06 | |
| HOLD | 28.100 | David Driscoll | Not too expensive and not too cheap. It all depends on the next acquisition and next sale. | 2006-12-05 | |
| BUY | 25.750 | Norman Levine | Will be looking at as a potential buy. Flush with cash. | 2006-11-14 | |
| Comment | 24.320 | Jeff Parent B. Eng. FCSI | Trading just above its support. Consolidated in Sept/Oct. Stocks from a consolidation will either make a new high or test its low, which it is doing right now, and then goes on to make a new high. Volume was fairly strong. | 2006-11-02 | |
| WEAK BUY | 24.480 | Jonathen Wellum, B. Comm, B. Sc | A bit of a black box, private equity type of operation. Track record has been pretty good over time. Has a lot of cash. If you do own the stock, you have to take a long-term view of the operation. | 2006-08-17 | |
| TOP PICK | 22.780 | Bill Carrigan | (A Top Pick May 2/06. Flat.) Not on anybody's radar screen. A long-term, infrastructures play. Aerospace is a long-term play. Has a beautiful uptrend. | 2006-07-17 | |
| TOP PICK | 22.710 | Bill Carrigan | (A Top Pick Feb 14/06. Up 21%.) Thinks aerospace is a long-term story. This one has a nice uptrend. Had a double bottom in December and February with quite a bit of volume. | 2006-05-02 | |
| TOP PICK | 22.710 | David Baskin | May have hit at home run with their airline business in the US. This is the kind of opportunistic acquisitions that they have been successful in making. This is a story of under appreciated assets. | 2006-05-02 | |
| BUY on WEAKNESS | 22.700 | David Driscoll | They are hitting on all cylinders now because the economy is coming on strong on all fronts. Probably a decent time, but might wait on a little bit of a pullback. | 2006-04-06 | |
| TOP PICK | 18.580 | Bill Carrigan | Top pick. This company is in the Aerospace sector. The factory is in the States. | 2006-02-14 | |
| BUY | 18.800 | Michael Sprung | We haven't seen them do any major transactions in a while. There have been attempts but likes the fact that they have been cautious. | 2006-02-02 | |
| PAST TOP PICK | 19.870 | David Baskin | (A Top Pick Jan 25/05. Up 5%.) The big attraction right now is their managed limited partnerships. Market hasn't recognized the potential profit they make through their carried interest of 20% and the profits their managed partners can make. Well managed. | 2005-03-29 | |
| BUY | 20.150 | David Baskin | A manager of money. Potential to make gains. Depends on its success of its aquisitions. | 2005-02-28 | |
| TOP PICK | 19.160 | David Baskin | Likes that they are getting into the business of managing funds for others. Just announced they are managing a big real estate fund. A terrific source of steady income. | 2005-01-25 | |
| DON'T BUY | 19.350 | Paul Harris, CFA | Gerry Scwartz is a very smart man with smart people working for him. Concerned that some of the biggest plays in private equity have been going on since 2000 and Onex has not been a part of any deal. Has lots of cash. | 2005-01-24 | |
| WEAK BUY | 18.950 | Fred Pynn | The question is can Gerry Schwartz find accretive acquisitions. Not much downside risk, but it's event driven and you will have to be patient. | 2004-11-24 | |
| BUY | 17.650 | Bruce Campbell | Has a lot of cash. Trading at a little higher discount than its historical average to net asset value, so there's a couple of $'s of value. Buying today would be buying Gerry Schwartz' ability to do something good with the cash. | 2004-11-15 | |
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| BUY | 17.630 | Michael Sprung | Sells at a significant discount to the sum of its component parts. An alternative to owning a riskier holding like Celestica. | 2004-10-21 | |
| PAST TOP PICK | 17.000 | David Baskin | (A Top Pick July 29/04. Up 5%.) Stiil likes. Trades at a pretty good discount to the value of its underlying assets. Long term prospects are excellent. | 2004-10-12 | |
| STRONG BUY | 17.000 | David Baskin | Have a huge amount of cash. Their cash plus their publicly traded securities adds up to more than what their stock is trading for. Very inexpensive. | 2004-09-09 | |
| BUY | 16.400 | Robert Floyd | Gerry Scwartz is a very shrewd operator in his acquisitions. The major issue is their holdings in Celestica, but Celestica's margins are improving and they are starting to get some decent contracts. | 2004-08-23 | |
| TOP PICK | 16.430 | David Baskin | A huge amount of cash per share is in the company. If you add the cash per share and their publicly traded interest per share, the stock price is less than this. | 2004-08-17 | |
| BUY | 16.080 | Gavin Graham | Have a substantial amount of cash. With the market getting softer, they could be picking up some bargains. | 2004-08-12 | |
| HOLD | 16.570 | David Cockfield | The company has done extremely well recently, but the stock has done absolutely nothing. Probably overlooked. Have a lot of cash. | 2004-08-10 | |
| WAIT | 16.510 | Matt Baillie | The issue with the stock is that it is largely a holder of cash and is looking for investments. Will wait until they put their money somewhere. | 2004-07-30 | |
| TOP PICK | 16.400 | David Baskin | Stock market has never liked this stock much. Their cash on hand + Celestica almost equals the stock price which means you get a whole bunch of other grab bag businesses for free including their management interest in their new private equity fund. | 2004-07-29 | |
| DON'T BUY | 17.000 | James Cole, BA, CFA | A company that has dual class shares which he doesn't like. With the sale of Loew/Cineplex, it will largely be cash. Doesn't expect the share price will do much of anything. | 2004-06-30 | |
| TOP PICK | 16.490 | Bill Carrigan | A laggard. Didn't bottom until March/03. From the bottom, built a channel and is trying to break out. | 2004-04-01 | |
| BUY | 15.090 | Larry Berman CFA, CMT, CTA | Has been extremely choppy. Probably part of a bigger base pattern that is developing. If it dropped below its 2003 low, it could get ugly. You can buy, with a stop at that point and look for it to go up to $19/20. | 2003-12-15 | |
| WATCH | 14.710 | Richard Stone | Have a ton of cash. The big overhang is that they are such major shareholders of Celestica. If you're not a fan of Celestica, you shouldn’t own this stock. Keep an eye on Celestica. | 2003-10-29 | |
| BUY | 15.850 | Ray Steele | They have a lot of cash and excess capital. Smart management group. Once they start to deploy their cash in further investments, we'll see their business start to pick up. Pretty safe place to be. | 2003-10-03 | |
| BUY | 15.050 | Mark Jackson, CFA | Looks fairly attractive at these levels. Thinks that over time they will take their asset Loews public that will add value to stock. You also get to play Celestica this way. Also like the Aeroplan asset. | 2003-08-27 | |
| BUY | 15.200 | Ray Steele | They have done some smart things and have a lot of cash.Outlook is quite strong. | 2003-08-20 | |
| BUY | 15.220 | Mike Weir | They have a tremendous track record of making good investments.The stock is trading at a great discount to the net asset value.A good way of playing the rebound in Celestica. | 2003-08-19 | |
| DON'T BUY | 15.850 | David Baskin | Good blend of assets. Smart management. Worried about the Celestica holdings. | 2003-07-23 | |
| BUY | 14.700 | Ted Macklin | Good company. Trading at a discount. | 2003-07-03 | |
| WAIT | 14.750 | Fred Ketchen | Has had a tough time. Aggressive management. As we get back into a tech recovery, it will come back to life. | 2003-06-23 | |
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| DON'T BUY | 14.750 | Brian Acker, CA | Not a big fan. | 2003-05-06 |
