| TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Canadian Housing Trust Dec 15/12. 4.55% and yield to maturity 3.9%. - 100% guaranteed by the government of Canada. Trades 48 basis points above the equivalent rate of the Govt of Canada. | 2008-07-21 | |
| TOP PICK | | Telus Corp | T-T | 40.080 | 5.95% bond maturing Apr 15/15. 200 basis points above Canada’s and are investment grade. Issued after all the kafuffle about the Bell debentures so there were a couple of corporate issues with 2 provisos. If there’s a change of control and/or the investment falls below investment grade the company must buy these back at 101. | 2008-07-21 | |
| TOP PICK | | Calloway REIT | CWT.UN-T | 18.810 | 6.65% convertible bond maturing June 30/13. Trust massacre in Oct/06 left a lot of trust convertibles in no man’s land. Good quality. Convertibles rank ahead of the units themselves giving a whole level of protection from the distributions. Units would have to go to zero before bondholders had to worry about their interest. | 2008-07-21 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Investing in bonds through an Indexed Bond Fund or Actively Managed Fund? – ETF’s ar your best bet. They are exchange traded with modest expense ratios. | 2008-07-21 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Long Term Bonds: - Technically in a bear trend right now, but won’t sell of very much because we are at a time when inflation scares will be behind us fairly soon. Probably a good Buy right here. | 2008-07-21 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | GE Capital Bond due June 10/0: - A triple A rated security so wouldn’t have any concerns on this. GE is a massive company with massive resources and has no dent in their armour yet that has made anyone nervous. | 2008-07-21 | |
| BUY | | iUnits Real Return Bond E.T.F. | XRB-T | 20.440 | Likes real return bonds and there should be a little included in your fixed income portfolio. Because taxation they should be in your RRSP account. Yielding about 1.56% right now. Fund mimics the real return index of the DEX universe so it tracks the passive index fund that is invested in the various real return bonds. | 2008-07-21 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Bank Perpetual Preferred Shares: - Doesn’t like perpetual preferreds and would never buy them in the 1st place. Have been suffering along with the long term bond prices. If you own, not sure that he would sell them. | 2008-07-21 | |
| BUY | | Claymore 1-5 yr Government Bond E.T.F. | CLF-T | 20.080 | A laddered bond fund. This is the only one that is publicly available. Mimics the DEX ladder. Invests in Federal and provincial Government maturities and buckets of 1, 2, 3, 4 and 5 maturities at a very low MER of 15 basis points. Payout is around 4.1%. | 2008-07-21 | |
| TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Canadian housing trust 4-year- 100% guaranteed by the government of Canada, thus are AAA securities. Trading 55-60 full basis points higher than the same maturity level government of Canada bonds. Very, very cheap for retail investors to buy. | 2008-03-14 | |
| TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Bell Canada 4-year bonds- Good maturity and an attractive bond. Yielding about 350 basis points over Canada’s, which makes them 6.35%. Bell is not going to go out of business, so these are very attractive for part of your portfolio. An above average turnover for a company that’s going to stick around. | 2008-03-14 | |
| TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Harvest energy Bonds, 7.25-year- Trading at very attractive yields to maturity. These are all energy related companies with very strong cash flows/balance sheets. The interest payments of these debentures come before the unit distributions, therefore these bonds are very safe. A very attractive bond to hold until maturity. | 2008-03-14 | |
| DON'T BUY | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Major bank stocks- Far to early to become involved with these stocks. We haven’t seen the tip of the iceberg yet. Dividends aren’t in any particular difficulty. Preferreds are good right now because interest rates are falling, and there are very good quality bonds. | 2008-03-14 | |
| BUY | | IGM Financial Inc. | IGM-T | 41.900 | Largest mutual fund company in Canada. Very good financial company, very strong. Business is growing, they have a few bonds outstanding but they don’t trade very often. | 2008-03-14 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | When the American housing market turns around, there will be an avalanche of money going back into equities from the massive pile-up of money in very liquid T-bills. Stocks are getting very, very cheap, so when the catalyst occurs the financials will snap back incredibly fast. | 2008-03-14 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Convertible Bonds- We like a lot of the convertible bonds that were issued by the income trust. They have been left alone and have very good value. | 2008-03-14 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Laddering a Portfolio- A fool-proof strategy, You can beat ¾ of Canada’s professional fund managers by using this approach. It takes the guess-work out of interest rates by spreading your money out. An example of implementing this strategy involves dividing a lump sum of money into 10 pieces, and investing in 1-year through to 10-year bonds. Then as the bonds mature from year to year, continue investing in additional 10 years bonds, so that your portfolio constantly has a 10 year diversity. | 2008-03-14 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | There’s not much more upside left in the bond market. The yield curve is very steep, which means there will be a very snappy recovery and you should not be in the long end of the market. | 2008-03-14 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Convertible Bonds- We like a lot of the convertible bonds that were issued by the income trust. They have been left alone and have very good value. | 2008-03-14 | |
| PAST TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Shaw Bonds- (Top pick. July 4, 2007.) Mature December 2017. An improving credit. For several years their cash flow and profitability had been rising. We still recommend them. | 2008-03-14 | |
| PAST TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Telus Bonds (Top pick. July 4, 2007.) Mature March 2012. Telus has a good credit rating. Telus is likely to have to raise a lot of money through equity and debt in the near future. Still likes them very much | 2008-03-14 | |
| PAST TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | 3.75 Canadian government- (Top pick. July 4, 2007.) Mature June first 2009. The short term curve of this bond is going to steepen more, and the short term rates are going to go down more, so these have more upside in price, but limited. | 2008-03-14 | |
| VAGUE | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | ISHARES- Very good investment for those retail investors who don’t have an advisor to help them pick individual bonds. ETFs are better than mutual funds because they charge a very small management expense ratio. Likes the short term XSB (on the TSX) and the XRB (real return fund). These are a good combination for investors to buy now. | 2008-03-14 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Safety on Market Funds- Your far better off buying individual T-Bills with your short term money than any money mark funds. | 2008-03-14 | |
| SELL | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | GMAC high yield bonds- Don’t like these bonds. Company has serious problems ahead. Buy the common shares if you think GMAC is worth investing in. Take your money and run from these bonds. | 2008-03-14 | |
| WEAK BUY | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | GoC 30-year bonds- They’ve been in a bull market, with a lot of jerking around lately, but it looks like the long term has more room to run. Be more cautious as the yield curve gets steeper. Right now they look OK for further capital bonds. | 2008-03-14 | |
| BUY | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Real return bonds- Now is a good time to buy. In this climate there is great potential for markets to turn around, so be cautious about bonds. | 2008-03-14 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Inflation and bond prices- Very low risk of inflation. This danger is not close yet, but there is a real possibility. | 2008-03-14 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Interest rate risk- It’s very challenging to predict when and by how much interest rates will change. Interest rates have got a long way further to fall. Pay very close attention to the U.S housing market to get an idea of when the interest rate may change. Borrow money in U.S dollars not Canadian dollars (bearish on U.S $) | 2008-03-14 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Holding Strategy bonds- Like the shorter maturities right now. You can make money in short term bonds. | 2008-03-14 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Sub-primes - There will be more fallout. They have to figure out what these assets are and what their value is. $1.5 trillion is outstanding and $300 billion is going to be written off. These over collateralized obligations are going to be significantly underwater. This is just the sub primes of the CDO’s themselves and then you go to the leveraged loans, which is the next problem. There are some serious write-downs yet to occur. | 2007-10-02 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Bankers’ acceptances - These are promissory notes that a small corporation issues to raise short-term money. They can't do it through the money market so they go to a bank who, for a fee, stamps it and the stamp signifies that it is 100% guaranteed by the bank. Very liquid and trade every day. Very safe investment. | 2007-10-02 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Canadian $ - He and it would be imprudent to change currency into the US at this time. | 2007-10-02 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Provincial Bonds - Have a very stable yield spread from Government of Canada's. Every province now has a surplus. If you are biting government bonds, by provincial rather than Canadian, which gives you a better year low. | 2007-10-02 | |
| TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Molson Coors 5% bonds maturing Sept 22/15. Pays 5.5% at the current price of $96.86. Since the merger, their balance sheets have strengthened considerably and their net free cash flow has tripled. | 2007-10-02 | |
| TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Advantage Energy convertibles. 8% coupon maturing Dec 31/11. His view is that natural gas side is due for a rebound in the next couple of years. | 2007-10-02 | |
| TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Bell 5% maturing Feb 15/17. At the present price of $85.34, it is paying 7.17%. Mildly speculative. | 2007-10-02 | |
| DON'T BUY | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Bond Funds - You should not buy any bond funds because you are paying too high a management fee for uncertain performance. You don't know what the fund is going to be worth on a year-to-year basis because fund managers extend terms and shorten terms. | 2007-10-02 | |
| SELL | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Bank of Montreal bond maturing January 2010 and paying 7% is a very short-term bond and it will amortize downwards back to par. Very little chance of a capital gain here. | 2007-10-02 | |
| TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | 5.7% Shaw bonds maturing Mar 12/17 yielding 6.50%. Shaw is continuing to improve its business. | 2007-07-04 | |
| TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | 4.5% Telus bonds maturing Mar 3/12 yielding 5.78%. Likes the sector and the company. | 2007-07-04 | |
| TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | 3.75% Canadian government bonds maturing Jun 1/09 and yielding 4.59%. | 2007-07-04 | |
| BUY | | iUnits Cnd Bond Market. E.T.F. | XBB-T | 29.580 | Mimics the Scotia Capital Universe Bond Index, so when you buy this, you are buying the bond market. The fees are only .3%. Has an average turnover of about 10 years, duration about 7 with a yield of about 4.25% and the trailing 12-month performance is close to 6%. | 2006-12-11 | |
| TOP PICK | | ATS Automation | ATA-T | 10.890 | (A Top Pick Oct 31/05. Down 15.4%.) Still likes. Likes their subsidiary Photowatt International, which is in the solar power business. Will be spinning off a portion of this as an IPO. | 2006-12-11 | |
| TOP PICK | | ATS Automation | ATA-T | 12.880 | Likes their solo energy subsidiary, Photowatt. They are booked to spin off part of it in an IPO. A very exciting area to be in. Upside potential is very attractive. | 2006-10-31 | |
| PAST TOP PICK | | LionOre Mining International | LIM-T | 9.470 | (A Top Pick Jun 28/06. Up 53.8%.) Sold it on the way up. A good, long-term investment. One of the few independent nickel companies left standing. | 2006-10-31 | |
| TOP PICK | | LionOre Mining International | LIM-T | 5.980 | With all the mergers and takeovers, it will probably be the largest independent nickel producer left standing. A believer in the long-term commodity cycle. Nickel is one of the things that are in strong demand in Asia. Would be a good buy at five dollars. | 2006-06-28 | |
| TOP PICK | | LionOre Mining International | LIM-T | 4.790 | Likes the nickel prospects long-term. He's in this for the long haul. Gaining international exposure. It will be one of the few nickel plays left standing after all the mergers and acquisitions. Had a disappointing third-quarter because of currency and production problems. | 2005-12-20 | |
| BUY | | iUnits Cnd Bond Market. E.T.F. | XBB-T | 29.520 | Represents the entire bond market. A real proxy for the bond market. His outlook is for falling rates in the first-half of 2006. | 2005-12-20 | |
| TOP PICK | | LionOre Mining International | LIM-T | 6.120 | Believes in the long term resources. This one is a pure nickel play. Feels we are in the 2nd wave of a 5 wave move. Long term hold. | 2005-08-19 | |
| BUY | | iUnits Cnd Bond Market. E.T.F. | XBB-T | 29.790 | The fees are only .3 a year. This mimics the Scotia McLeod Universe index, so you're buying the bond market when you buy units in this. It has a composite of all maturities and all credits, so you're buying the bond market. | 2005-08-19 | |
| TOP PICK | | LionOre Mining International | LIM-T | 6.850 | A pure nickel play. A believer in the long term commodity play and this is as pure a nickel play as you can get. Likes the management and the sponsorship. Hold for the next 3/5 years. | 2005-06-16 | |
| STRONG BUY | | iUnits Cnd Bond Market. E.T.F. | XBB-T | 29.680 | Terrific vehicle for a retail investor who wants to get into bonds. You are only paying .03 a year and they pay out quarterly distributions of income. | 2005-06-16 | |
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