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| Kevin O'Leary of O'Leary Funds |
|---|
| 130 King Street West |
| Suite 1800, PO Box427 |
| Toronto ON |
| M5X 1E3 |
| 1-877-849-2004 |
| TOP PICK | Pfizer Inc | PFE-N | 14.570 | Thinks the pharmaceutical sector will start to do quite well in the next 2 years. It is so negative now in terms of what the government wants to do but historically they have never been able to cut the price of drugs. You are getting 5% to wait. | 2009-07-06 | ||
| TOP PICK | Saneamento De Minas Gerais | CSMG3 (Brazil) | 0.010 | One of Brazil's largest sewage treatment and garbage collection. $1.5 billion market cap growing at 18% and trading at 7.5 PE. 4% dividend. Fantastic opportunity for a long-term hold. | 2009-06-29 | ||
| TOP PICK | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Redecard. Processes credit cards for Brazilians. $8 billion market cap. 5% dividend. Forward P/E of 13. Estimated growth of 14%. | 2009-06-18 | ||
| TOP PICK | Brazilian Toll Highways | CCR03-Brazil | 0.010 | Brazilian exchange. Builds and operates toll roads. 4.76% yield. EPS growth is 16%. Brazil missed the entire debt crisis. Give us a sustainable yield that is growing. | 2009-06-17 | ||
| TOP PICK | Gaylord Entertainment Co. | GET-N | 13.630 | Brazil exchange. Banking system in Brazil is probably one of the best in the world. As a result, their economy is rebounding very quickly. 10.1% yield. PE is 9.9. EBITDA is 5.7 multiple. | 2009-06-16 | ||
| TOP PICK | Market Vectors Africa Index ETF | AFK-N | 27.990 | Africa has been a very tough place to invest and his controversial but is one of the new emerging markets. This ETF is very small with fees generally higher than most had almost 1%. These are global mega-cap companies that are all doing at least 50% of their business on the African continent. He would not have more than 5% in a portfolio. | 2009-06-09 | ||
| TOP PICK | Heineken NV | HINKY-OTC | 0.010 | (Over-the-counter stock.) He looks for products that people like a lot in recession times. $10 billion market cap. 10 PE. Succulent dividend and a succulent beverage. What can go wrong with that? | 2009-04-08 | ||
| TOP PICK | Lorillard Inc. | LO-N | 60.590 | A $10 billion market cap with a 6% dividend. The kind of company he likes. P/E of 10.93. Debt/EBITDA is 0. (Amanda thinks it's a declining business.) | 2009-04-06 | ||
| BUY | Brookfield Properties Corp. | BPO-N | 5.560 | 8.7% April, 2017 Bonds are giving a 12.25% yield to maturity. Trading at $67 and you hold until it matures. Good name but doesn’t trust the stock to move up significantly. | 2009-04-01 | ||
| TOP PICK | Terra Nitrogen Co. LP | TNH-N | 143.000 | Nitrogen. Likes the fundamentals. Loves agriculture with yield. Yielding over 8% dividend. Possible takeover target. | 2009-03-31 | ||
| TOP PICK | IQ Hedge Multi-Strategy ETF | QAI-N | 24.750 | Gives exposure to the hedge fund industry. Gives you the same multi-strategy hedge fund actively managed way to play commodities, real estate, long, short, etc. Sector has been crushed so it's a good time. Not buying yet but is watching. | 2009-03-30 | ||
| BUY | BCE Inc. | BCE-T | 24.140 | He is trusting that management will cut costs and drive shareholder value. Likes the yield. Encouraged by their focus on wireless. Recently acquired The Source stores to compete on handset sales with Rogers (RCI.B-T). | 2009-03-09 | ||
| DON'T BUY | Bank of Montreal | BMO-T | 26.950 | He doesn't own any banks. General Electric (GE-N) up to 2 weeks ago said they were not going to cut any dividends but have cut it because they had to. Banks could be in the same situation. There are better and safer places with higher yields. | 2009-03-09 | ||
| Comment | Berkshire Hathaway Inc. (B) | BRK.B-N | 2.000 | Warren Buffett has not been immune to the downside in the market. With the heavy insurance names in his portfolio, this has taken at hefty toll. Down 48%. | 2009-03-09 | ||
| PAST TOP PICK | Diageo PLC | DEO-N | 41.140 | (A Top Pick Aug 25/08. Down 41.6%.) (He hedged on the sterling, so only down 25%.) The key is to buy these names in their native exchange and to hedge out the rest. Will recover with the market. | 2009-03-09 | ||
| Comment | Encana Corp | ECA-T | 48.610 | Why is this stock going up when gas is dropping? Large Cap name and in tough times it will get more institutional support. | 2009-03-09 | ||
| TOP PICK | Enbridge | ENB-T | 36.480 | 9.16% Bond due March 1, 2019. Secure play because it is in infrastructure. Senior debt on a company that has free cash flow. | 2009-03-09 | ||
| Comment | Goldcorp Inc | G-T | 36.560 | Knowing that US government is going to print $3.6 trillion you would expect gold to be $4,000 an ounce but is stuck between $900 and $1000. He personally owns 5% in gold with 25% in Newmont (NMC-T), 25% in Barrick (ABX-T) and 50% in GLD’s. Not a “Pay Daddy” story as it doesn’t pay dividends and there's hardly any yield. | 2009-03-09 | ||
| Comment | NAL Energy Corp | NAE-T | 2.820 | Hedged at $132 on 48% this year but is going down when oil is going up. Why? Doesn't have as much institutional support. Oil has to move up before the stock will perform. | 2009-03-09 | ||
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| BUY | Potash Corp of Saskatchewan | POT-T | 90.030 | (Market Call Minute.) He is a long-term bull on this commodity. If you have a 2-year horizon, this is near the bottom of the cycle. | 2009-03-09 | ||
| DON'T BUY | Toronto Dominion | TD-T | 34.670 | (Market Call Minute.) | 2009-03-09 | ||
| HOLD | UTS Energy | UTS-T (Dead) | 1.670 | (Market Call Minute.) Doesn't think there is much more upside to this story. | 2009-03-09 | ||
| SELL | Yahoo! | YHOO-Q | 12.660 | (Market Call Minute.) Trying to sell off the assets. | 2009-03-09 | ||
| BUY | Frontline Ltd | FRO-N | 16.670 | Oil shipper. With demand-destruction oil you are currently in the bottom of the oil cycle but you don't know how long you are going to have to sit there. New ships are not being dealt because of a lack of funding. | 2009-03-09 | ||
| Comment | Crescent Point Energy Corp | CPG-T | 23.000 | Just announced they are reverting to a corporation and keeping their payout the same at $.23 per unit. This will give the advantage of a dividend tax credit. Still fighting a current against them on commodity prices and until that changes, they are not going anywhere. Well-managed. | 2009-03-09 | ||
| TOP PICK | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Lafarge North America 10.93% Bond due July 15, 2016. Manufactures cement so a good play on infrastructure. | 2009-03-09 | ||
| BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | (Market Call Minute.) Uranium. Has always liked uranium. | 2009-03-09 | ||
| Comment | Penn West Petroleum | PWT-T | 9.310 | Trust space is in a funk. You have to know which ones are going to survive to the conversion date of 2011 and also, which ones are going to cut and how many times. Expect more distribution cuts in the energy space. This one has a 28.8% yield. | 2009-03-09 | ||
| TOP PICK | ArcelorMittal | MT-N | 17.690 | 11.05% Bond due June 2013. Steel manufacturer, which will be a good play on infrastructure. | 2009-03-09 | ||
| BUY | Molson Coors Brewing Company | TAP-N | 32.950 | (Market Call Minute.) Starting to like what management is saying. Good entry point. | 2009-03-09 | ||
| BUY | PowerShares Water Resource E.T.F. | PHO-N | 10.140 | ETF for water that includes desalination, pipelines, valve companies, etc. Has a 5% holding in water, which he considers to be the next oil. Municipalities starting to focus on how they are going to supply water. | 2009-03-09 | ||
| BUY | iShares MSCI Emerging Market ETF | EEM-N | 20.690 | Has been extremely volatile. Expects it to recover before the North American economies. Emerging markets are less leveraged today than what we are. | 2009-03-09 | ||
| BUY | Visa Inc. | V-N | 49.800 | Volatile stock because the credit card companies are volatile. Doesn't take credit risks. The infrastructure play of the financials. You will need a recovery in the economy to get it back to its highs. Good dividend. | 2009-03-09 | ||
| PAST TOP PICK | National Grid PLC | NGG-N | 38.420 | (A Top Pick Aug 25/08. Down 41.2%.) Didn't like it because it was piling on the debt and had to refinance. | 2009-03-09 | ||
| PAST TOP PICK | Veolia Environnement | VE-N | 19.670 | (A Top Pick Aug 25/08. Down 63%.) Sold this in the mid-$40’s because management missed its numbers. | 2009-03-09 | ||
| Comment | Eagle Bulk Shipping Inc | EGLE-Q | 5.050 | Unbelievable volatility in shippers and this is not for the faint of heart. 92% of all commodities are moved in ships. Thinks we are in the beginning of a long secular bull in this asset class. Beta is 2.15 which means it is twice as volatile as the S&P 500. | 2009-03-09 | ||
| TOP PICK | Harvest Energy Trust | HTE.UN-T | 4.180 | (My deepest Apologies. This was on Tuesday night's show and I missed it.) 6.5% bond due Dec 2010. Currently yielding 9%. So out of the money that it is trading like debt. Trust cut its distribution 83%. Don’t buy the unit, only the bond. (Amanda says DANGER!) | 2009-03-05 | ||
| TOP PICK | Dryships | DRYS-Q | 3.540 | Yesterday was a very big day for shippers. Shippers are going to move first before commodities move. Very volatile so you have to have the stomach to own them. Expect there will be a slow move upwards. This one gained 38% yesterday. Good dividends. | 2009-03-05 | ||
| TOP PICK | Eagle Bulk Shipping Inc | EGLE-Q | 3.880 | Yesterday was a very big day for shippers. Shippers are going to move first before commodities move. Very volatile so you have to have the stomach to own them. Expect there will be a slow move upwards. This one gained 51% yesterday. Good dividends. | 2009-03-05 | ||
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| BUY | ProShare Ultra Short 20+ yr Treasury ETF | TBT-N | 45.960 | Allows you to go Short the long treasury. He wants rates to go back up at some point. Because he thinks they will, this thing is going to be a winning trade. The risk is that the US government starts buying long bond as part of its recovery. If so, he'll say OOPS it was a bad idea. | 2009-02-12 | ||
| Comment | HBP NYMEX Nat'l Gas Bull+ | HNU-T | 3.090 | Natural Gas ETF. A way to play natural gas in Canadian currency if you are bullish on it. | 2009-02-10 | ||
| Comment | HBP NYMEX Oil Bull+ ETF | HOU-T | 6.330 | Oil ETF. If you are bullish and just want to play oil, this is a way to play oil in Canadian currency. | 2009-02-10 | ||
| Comment | Gran Tierra Energy Inc. | GTE-T | 3.960 | (Kevin's brother is COO!!!) He is not recommending it because there is a family connection. | 2009-02-05 | ||
| TOP PICK | Visa Inc. | V-N | 49.130 | This is the infrastructure toll road of commerce. One of the most widely accepted cards in the world. First-quarter profit was 35%. | 2009-02-04 | ||
| TOP PICK | Chesapeake Energy Corp. | CHK-N | 16.700 | 9.5% bond to 2015, which he will hold to maturity. Discounted to 95. Oil/gas production. Have hedged out their gas and oil for the next couple of years so they have lots of cash flow to pay out this bond. | 2009-01-29 | ||
| TOP PICK | Telephone & Data Systems Inc. | TDS-N | 33.160 | Preferred shares. Trading at $17.75. Original yield was 7% but is now over 10%. | 2009-01-28 | ||
| TOP PICK | Enbridge | ENB-T | 39.790 | 9.875% bond maturing March 1/19. He wants debt that he can buy now and hold to maturity. Yields look so attractive. He is moving his own allocation from 60% equity-40% debt to 70% debt. The next 5 years is what he needs to do. | 2009-01-26 | ||
| BUY | BCE Inc. | BCE-T | 25.150 | (Market Call Minute.) Corporate Bonds. Likes the new management and the way they are cutting costs. | 2009-01-21 | ||
| DON'T BUY | Canadian Oil Sands | COS-T | 18.230 | Sold this when it looked like they were going to cut their distributions. Looks like they may have to do this again. Thinks there will be an opportunity to re-buy at a lower price. | 2009-01-21 | ||
| Comment | Daimlerchrysler | DAI-N | 30.190 | After 20 years of producing sub par products Chrysler is trying to resuscitate a brand at a time when the industry has way too much capacity. As a taxpayer, he doesn't want to take money that was created with winning companies and give it to losers. Has no problem if they go bankrupt. | 2009-01-21 | ||
| PAST TOP PICK | Diageo PLC | DEO-N | 52.820 | (A Top Pick Aug 25/08. Down 28%.) Actually outperformed the S&P 500 by 32%. 6% yield. He holds it in British £ and hedged it back to Cdn $’s so has been a pretty good performer for him. | 2009-01-21 | ||
| DON'T BUY | General Electric | GE-N | 13.030 | Doesn't think this is a value buy right now. It will test its lows and break through them again. 2 big problems. Their financial services should be separated from the rest of the assets. CEO advised that the 09 dividend was safe but refuse to answer a question about 2010 dividend. | 2009-01-21 | ||
| DON'T BUY | Harvest Energy Trust | HTE.UN-T | 11.070 | (Market Call Minute.) He can’t buy any trusts until they resolve the price of oil. | 2009-01-21 | ||
| DON'T BUY | Canadian Hydro Developers | KHD-T | 3.250 | Loves the whole context of what we are doing with green but the problem is that it is very hard to make money with businesses that are heavily subsidized by governments. | 2009-01-21 | ||
| DON'T BUY | Petro-Canada | PCA-T | 27.820 | Everybody feels energy should be sitting between $50 and $70 a barrel however it continues to look very, very weak. Very much tied to the global recession. Not clear as to when to buy energy again. He would rather miss the first 10% up. | 2009-01-21 | ||
| SELL | Research In Motion | RIM-T | 66.750 | (Market Call Minute.) Nature of their business is moving more towards consumer electronics. Very risky. | 2009-01-21 | ||
| Comment | Frontline Ltd | FRO-N | 30.130 | Shipping company that is basically being used to store oil offshore. If and when oil recovers it will be a big beneficiary. There is a lot of volatility in shippers that you have to deal with. 6.6% yield. | 2009-01-21 | ||
| Comment | Oilexco Inc | OIL-X | 0.080 | Tragic story. Had great reserves. CEO made aggressive moves of borrowing money to exploit the opportunity right into a horrific debt market. Got into a position where Bank of Scotland was no longer able to provide funding. | 2009-01-21 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Bonds: Has been a world sea change by governments to bolster balance sheets but don't seem to be concerned about earnings growth. Because of the global credit crisis, bonds went down as much as stocks so you can now get the same capital appreciation in bonds and get paid to wait. Need to see government and corporate debt spreads normalize before going back into stocks. | 2009-01-21 | ||
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| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Gold: Keeps 5% weighting in his personal portfolio through the SPDR Gold E.T.F.(GLD-N) bullion as well as Barrick (ABX-T) and Newmont (NMC-T). In this way, he owns both the miners and the commodity. If gold really were speculating on inflation, it would be $2000 if not $3000. | 2009-01-21 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Guinness Brewers. (Can't find a symbol.) Would rather be in Diageo (DEO-N). They have a huge portfolio of spirits. These tend to be defensive stocks and tend to under perform when the markets come back. | 2009-01-21 | ||
| TOP PICK | ArcelorMittal | MT-N | 23.400 | 11.95% bonds maturing June 2013. Largest steel manufacturer globally. Infrastructure is about steel. Not going to buy stock when he can buy a bond that pays almost 12% until maturity. If the bond normalizes, it could double in value in a few years. | 2009-01-21 | ||
| SELL | Pengrowth Energy | PGF-T | 10.160 | (Market Call Minute.) More distribution cuts coming. | 2009-01-21 | ||
| DON'T BUY | iShares Cdn Corp Bond ETF | XCB-T | 18.620 | Doesn't see a lot of capital gain potential here. He isn’t that bullish on Canadian investment grade bonds as compared to US. They are very expensive. | 2009-01-21 | ||
| SELL | RuggedCom Inc. | RCM-T | 16.670 | This is a speculation, not an investment. Very difficult challenge in how to value. Has no yield or distribution and it is hard to tell what the market cap of this stock should be. If he owned and had a gain, he would take his money off the table. | 2009-01-21 | ||
| PAST TOP PICK | National Grid PLC | NGG-N | 45.390 | (A Top Pick Aug 25/08. Down 32%.) Still likes but there are better players. When management announced they were not going to hit their numbers, he exited the position. | 2009-01-21 | ||
| PAST TOP PICK | Veolia Environnement | VE-N | 21.580 | (A Top Pick Aug 25/08. Down 61.2%.) Still watching this as it is in a great theme that he loves, water. Have had some really big missteps in management. | 2009-01-21 | ||
| Comment | Claymore Global Shipping E.T.F. | SEA-N | 10.080 | Doesn't have enough trading volume for him. He needs liquidity. Prefers to own the shipping names themselves. | 2009-01-21 | ||
| BUY | SPDR High Yield Bond E.T.F. | JNK-N | 31.354 | Individual investors have a very hard time buying bonds because you have to spend $1 million to get a good price. That's why he prefers ETF’s. This is how he plays the junk bond market. | 2009-01-21 | ||
| TOP PICK | Constellation Energy Group Inc. | CEG-N | 26.940 | Preferreds (CEG.PR.A-N). Preferred spreads are now 6.5% above governments. An amazing opportunity. You don't have to buy financial services anymore to get remarkable yields. | 2009-01-21 | ||
| TOP PICK | Drax Group PLC | DRX-LSE | 0.010 | (London Stock exchange.) Coal fired electricity generation. Virtually no debt so dividend is extremely safe. 7.2% yield. | 2009-01-21 | ||
| Comment | Diana Shipping Inc. | DSX-N | 12.130 | Have to be ready for tremendous volatility. He generally keeps a basket of them and at year-end sells and buys new ones. Bulk Dry Index (?) has been ticking up slowly after a horrendous Q4, which he feels indicates more optimism in China. | 2009-01-21 | ||
| BUY | Advent Claymore Conversion Security | AVK-N | 11.650 | Individual investors have a very hard time buying bonds because you have to spend $1 million to get a good price. That's why he prefers ETF’s. This is how he plays convertibles. | 2009-01-21 | ||
| BUY | KKR Financial Holdings LLC | KFN-N | 1.400 | Individual investors have a very hard time buying bonds because you have to spend $1 million to get a good price. That's why he prefers ETF’s. Private equity market. | 2009-01-21 | ||
| BUY | Pimco Corp Income Fund | PCN-N | 11.562 | Individual investors have a very hard time buying bonds because you have to spend $1 million to get a good price. That's why he prefers ETF’s. Bonds. | 2009-01-21 | ||
| SELL | Annaly Capital Management Inc. | NLY-N | 14.750 | (Market Call Minute.) Very interesting but very controversial. Total trade in financial services and highly levered. | 2009-01-21 | ||
| TOP PICK | iShares Xinhua China 25 ETF | FXI-N | 25.950 | Even with a global decline in GDP China has a positive GDP. This ETF has large cap Chinese companies. Not a bad time to add a little bit of China to your portfolio. | 2009-01-19 | ||
| TOP PICK | PowerShare DB Agriculture E.T.F. | DBA-N | 24.960 | Not an endorsement but he does use it in his kid’s trusts. Doesn't pay a yield so he doesn't own it for himself. Feels the next commodity sector to move is agriculture. This one gives him a basket of agricultural commodities without having to deal with futures, etc. | 2009-01-15 | ||
| TOP PICK | Morgan Stanley Emerging Market Debt | MSD-N | 7.270 | Emerging market debt. Extremely volatile. Owns it for his kids’ trusts because they are extremely interesting. 11.5% yield. A “Go To” place for people trying to balance emerging markets and put some debt into their portfolio. (Not telling you to Buy this. Why talk about it then?) | 2009-01-14 | ||
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| TOP PICK | Western Asset Emerging Market Debt | ESD-N | 12.320 | Likes debt but not easy for individuals to acquire. This gives you access to western European bonds. 13% yield. Went through a complete collapse as markets got crushed but has recovered about 20%. Still has lots of upside. He is holding for 5 years | 2009-01-12 | ||
| DON'T BUY | American International Group | AIG-N | 2.410 | Doesn't know when we will get recovery and at what level insurance vs. banking is going to recover. Prefers Manulife (MFC-T) although it is not immune to problems. | 2008-11-04 | ||
| TOP PICK | Bristol Myers Squibb | BMY-N | 21.590 | Likes the pharma space, which has been beaten up badly. What intrigues him is the pill popping baby boomers. Has one of the best profiles on patent expiries. Less than 6% dividend. | 2008-11-04 | ||
| HOLD | Bank of Nova Scotia | BNS-T | 40.420 | (Market Call Minute.) Banking sector is dead water for a while until it is worked out what the profit margins are going to be. Doesn't see a lot of downside anymore but not a lot of upside either. | 2008-11-04 | ||
| DON'T BUY | Boston Pizza Royalties | BPF.UN-T | 9.100 | The problem with this and a lot of other restaurant royalty/income trust is the moving towards conversion time. They basically have 24 months to resolve how they are going to restructure. His fear is that until that is done, these are dead money. | 2008-11-04 | ||
| PAST TOP PICK | Diageo PLC | DEO-N | 63.660 | (A Top Pick Aug 25/08. Down 14%.) Still adding to his position. Market is down 30% plus and this is only down 14%. Dividend yield is secure and strong. A great China play. The one commodity that you have to love in a downturn is alcohol. | 2008-11-04 | ||
| Comment | Kinder Morgan Energy | KMP-N | 55.120 | One of the best-managed companies of its kind. Will have some volatility. Long-term play on energy. He is looking at this one. 7% yield. | 2008-11-04 | ||
| DON'T BUY | Coca-Cola Company | KO-N | 46.030 | Has been a relatively safe place to be. Supposedly one of the great China stories and one of the most significant areas to play the global brand. Thinks it's going to be tied to the markets. In terms of upside, there are so many areas that will give you a better yield. | 2008-11-04 | ||
| BUY | Altria Group Inc | MO-N | 19.090 | (Market Call Minute.) | 2008-11-04 | ||
| DON'T BUY | Research In Motion | RIM-T | 64.000 | Great company. Doesn't own because it does not pay dividends. Margins are going to get crushed. All of the manufacturers now are competing for the mind share of consumer electronics. Also sees PE coming down. The biggest problem is that there is no floor under a stock that has no yield. | 2008-11-04 | ||
| Comment | SNC-Lavalin Group Inc. | SNC-T | 34.600 | Infrastructure globally is where you are going to want to hide. Countries globally will be putting money into infrastructure to create jobs. This stock is expensive compared to its international competitors. Dividend is very low compared to its competition. This is why it has dropped. | 2008-11-04 | ||
| HOLD | Suncor Energy Inc | SU-T | 28.820 | (Market Call Minute.) Not clear what the CapX story is going to look like and thinks the stock will reflect this uncertainty for quite a while. | 2008-11-04 | ||
| BUY | Target Corp | TGT-N | 41.350 | (Market Call Minute.) Not really about the retail, it is about real estate. Speculation that the real estate is worth more than what it is on the books for. Probably a Buy. | 2008-11-04 | ||
| Comment | Frontline Ltd | FRO-N | 38.500 | You have to have the stomach for volatility. Really trades with the price up shipping. Question is, how long is the recession going to be. Extreme volatility. 92% of shipping around the earth is by ship. Expects signs of recovery in the next 9 to 18 months. 32% yield. | 2008-11-04 | ||
| Comment | Barclays Bank PLC | BCS-N | 12.680 | Always a challenge given its ADR. Prefers to buy companies in the actual exchanges and hedge up the currency risk himself. Financial services have been a really tough place. Stock looks identical to 30 other US banking stocks. If you believe there will be a government bailout, it is probably a good entry point. He is currently underweight financials. | 2008-11-04 | ||
| HOLD | Allied Irish Bank PLC | AIB-N (Dead) | 10.900 | Has been in the downdraft of the Bank of Scotland and Icelandic Bank meltdown. Doesn't think it's a zero candidate, so not worth selling it at this point. Will perform as well as other financials. Will probably take 2 years to turn around. Profitability of the financial sector is going to be hurt. Thinks the yield will be cut in half at some point. | 2008-11-04 | ||
| DON'T BUY | Berkshire Hathaway Inc. (A) | BRK.A-N | 118.000 | The concern that everybody has is that Warren Buffett is not a spring chicken anymore and when he is gone, what affect will this have on the stock. | 2008-11-04 | ||
| DON'T BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Gold: Keeps it at 5% weighting in his portfolio. When he needs it, it is never enough. But right now it is dead money. What is intriguing is that this should be the leading indicator of inflation. Not sure what signal it is sending. His instinct is to buy more but he is holding back. | 2008-11-04 | ||
| HOLD | Seaspan Corp. | SSW-N | 12.530 | Container shipping company. Has fallen in sympathy with the whole sector. This will trade with the optimism around recovery coming out of a recession like all the other shippers. Enjoy the massive dividend. A lot of volatility. | 2008-11-04 | ||
| HOLD | Bell Aliant | BA-T | 25.650 | Likes the business model and management. Thinks the assumption that BCE will close is built into the price. Doesn't expect a lot of downside risk. However, as an income trust, it is going to have to go through the conversion process. He will hold this over the next year to see where it goes. Likes the telco space. | 2008-11-04 | ||
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| Comment | Lloyds TSB Group PLC | LYG-N | 13.530 | Always a challenge given its ADR. Prefers to buy companies in the actual exchanges and hedge up the currency risk himself. Financial services have been a really tough place. Stock looks identical to 30 other US banking stocks. If you believe there will be a government bailout, it is probably a good entry point. He is currently underweight financials. | 2008-11-04 |
