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Compiling comments that experts make about stocks while on public TV.

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Paul Gardner, CFA , Partner and Portfolio Manager

Avenue Investment Management

Address
47 Colborne Street
Suite 300
Toronto, ON
M5E 1P8

Contact Info
Telephone: 416.482.2004
Toll Free: 888.482.2007
Fax: 416.482.0007
Email:
Website: http://www.avenueinvestment.com/


Date Signal Chart Symbol Company Opinion Price
2014-11-12 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  Thinks markets will grind higher.  Earnings have been better than expected.  Analysts often get too pessimistic.  They were making predictions in the midst of a correction.  There is global and US growth.  The market is trading at 14 times earnings – not cheap, but not expensive.  Yields are still pretty juicy on dividend payers.  Lower energy prices mean consumers fill up for less and spend more at the department store.  If you look at oil prices in Edmonton (not WTI), they have not changed much.  Being a Canadian producer is not so bad right now.  Would not be surprised if we rally 4-5% going into the new year.


Price:
$0.020
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
_N/A
2014-11-12 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

TFSA.  Keep your preferred shares outside of the TFSA because of preferred tax treatment of the income and put REITs in the TFSA.


Price:
$0.020
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
_N/A
2014-11-12 BUY Must be logged in to use chart AX.UN-T Artis Real Estate Investment Trust

Management is solid.  It is a western story.  It is about 20% in the US.  They had a hiccup related to a lease termination there.  Their occupancy rate went down from 96 to 94% and it affected their AFFO.  It is just a matter of timing and they will lease it back up.  The payout is not too heavy.  Thinks it will continue to grind higher, but it is late stages.


Price:
$15.690
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Yes
2014-11-12 COMMENT Must be logged in to use chart BAC-N Bank of America

They have to go to the federal reserve to ask if they can bump the dividend.  They have to worry about capital ratios.  They have to go through stress tests.  They are selling assets and becoming a smaller, more profitable bank.  They are primed for dividend increases now. 


Price:
$17.290
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Unknown
2014-11-12 PARTIAL SELL Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

It went up so far so fast so if you are over exposed it is a good time to take a little profits.  However, it should remain a core position.  They are good financial engineers.  They find acquisitions that really drop to the bottom line.  It is a proxy for the global economy and it is not a bad time to sell some into the coming Christmas rally.


Price:
$56.380
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Yes
2014-11-12 SELL Must be logged in to use chart BBD.B-T Bombardier Inc (B)

It has just sat there and it generally is a terrible business with high capital costs, unions and it is always dealing with free cash flow.  Last quarter they used up about 370 million.  They may have to go to the capital markets.  The ‘C’ series keeps getting delayed.


Price:
$4.070
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
No
2014-11-12 TOP PICK Must be logged in to use chart CNQ-T Canadian Natural Rsrcs

2.17% dividend.  He sold BCE-T to buy this position.  This is a great opportunity to own some really cheap assets.  Oil prices are stable out West relative to WTI. 


Price:
$41.910
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Yes
2014-11-12 DON'T BUY Must be logged in to use chart DIR.UN-T Dream Industrial REIT

Real estate is based on leverage.  They live off the funding (3% right now).  Their leverage is 50-60% of their assets.  As their costs go up you get some back in rent increases, but really it is all about the balance sheet, so your dividend would not reflect higher rents exactly.  He doesn’t like this one.  Industrial is a tough asset class.  He thinks there are better management teams also.


Price:
$9.030
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Unknown
2014-11-12 WEAK BUY Must be logged in to use chart FCR-T First Capital Realty

In a rising rate environment, real estate will get hit hard.  This one will get hit less because of their defensive asset class and they have premier tenants.  Great management.  He likes their properties.  They are conservative, good operators and they will outperform the class.  He doesn’t expect much even then, next year.


Price:
$18.690
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Unknown
2014-11-12 DON'T BUY Must be logged in to use chart G-T Goldcorp Inc

If we see gold go through $1000 then they will all have to cut their dividends.  Their operating costs are still high.  You can buy ETFs that are a pure play on gold and there is no operating risk.  Gold has to go back up to $1400 for this one to do well.


Price:
$22.290
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Unknown
2014-11-12 DON'T BUY Must be logged in to use chart KMP-T Killam Properties Inc

They made a large acquisition in Ontario.  It was accretive.  The share price has not participated in the lift, however.  The problem is their difficulties out East.  He would prefer to invest in apartments out West, not out East.  It is fine, but it is not one of his favourites.


Price:
$10.640
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Unknown
2014-11-12 PAST TOP PICK Must be logged in to use chart LNF-T Leon's Furniture

(Top Pick Feb 11/14, Down 2.76%) Their earnings came out light so it didn’t pop.  This is the best company in a bad industry.  Thinks we see earnings released in the next week.  You are finally going to see the integration with The Brick and you will see the cost savings start.  They also have a bunch of real estate that some day they might sell off.  He still likes.


Price:
$14.230
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Yes
2014-11-12 TOP PICK Must be logged in to use chart MEQ-T Mainstreet Equity Corp

(Top Pick Feb 11/14, Up 9.93%) Very little vacancy.  Apartment buildings out west where there is net migration there, there are no rent controls and there are low vacancies.  A lot of assets in Edmonton.  Trades at a significant discount to its NAV.


Price:
$40.170
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Yes
2014-11-12 BUY Must be logged in to use chart MSFT-Q Microsoft

They have done a great job of restructuring their business.  They had tremendous growth out of the cloud as they are one of the biggest providers of cloud services.  There is an upgrade cycle that is happening and will continue to happen.  90% of all companies use Microsoft.  Business runs on the Windows platform and will do so for the next 10-20 years.  They cut costs and it dropped to the bottom line.  It is trading at 15 times earnings so it is not as cheap as it used to be.  There should be earnings expansion to keep this company going.


Price:
$48.780
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Yes
2014-11-12 DON'T BUY Must be logged in to use chart REI.UN-T RioCan Real Estate Investment

The largest cap REIT out there.  Has done a good job of extracting value out of their properties.  The problem is in these late stages of this real estate cycle, if the economy ever deteriorated then they would get hit hard.  They are almost paying out more than they earn.  He owns the bonds, not the stock. 


Price:
$26.620
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Yes
Showing 1 to 15 of 1,064 entries
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