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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 Symbol Company Opinion Price
2013-04-01 N/A A Commentary A Comment -- General Comments From an Expert

Markets. Central banks have flooded markets with capital.  GICs are yielding 1-1.5%.  It gets to the point where there is no alternative except for the equity markets.  Stocks with good balance sheets and that pay dividends are hitting 52 week highs.  These companies do well unless interest rates are rising, which he doesn’t see them doing in the short term.  You would want to hold these for another 5 years.  He is expecting weakness over the next 3 to 4 months.  These companies do well unless interest rates are rising, which he doesn’t see them doing in the short term.  He would be buying on weakness that we may see over the next 3 months.

 Price:
$0.020
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
_N/A
2013-04-01 DON'T BUY ATP-T Atlantic Power Corp.

They have hit a number of hiccups.  Their assets are weak, corporate governance is not great, there is litigation risk, and they cut their dividend.  They have been killed on the share price.  They are going to have to issue equity and get their capital structure in line.  There will be a lot of volatility.

 Price:
$4.740
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
Unknown
2013-04-01 TOP PICK BTB.UN-T BTB Real Estate Investment Trust

8.6% yield.  It trades at a discount to NAV (80%).  They have gotten bigger and have received better financing rates over the last year.  Payout ratio has dropped under 100%.  It is possible that this kind of company is more desirable to a larger entity.

 Price:
$4.700
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
Yes
2013-04-01 DON'T BUY D.UN-T Dundee REIT

A lot more diversified than it was a couple of years ago.  Recently bought Scotia plaza, which has done really well.  Management contracts are based on revenue growth rather than profit growth.  He shies away from this and thinks the valuation is quite high.

 Price:
$36.810
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
Unknown
2013-04-01 COMMENT DIR.UN-T Dundee Industrial REIT

It trades about 10% more than NAV so it is not cheap.  Assets are almost recession proof.  But he finds it hard to get excited about it. He is neutral on it.

 Price:
$10.760
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
No
2013-04-01 TOP PICK LNF-T Leon's Furniture

Bought the over levered Brick that was in the penalty box.  LNF had no debt.  Earnings are going to increase.  The big concern in the market is Canadian housing, but he thinks it is all about employment, which is increasing in Canada.  He would not expect it to go down as much in a correction.

 Price:
$12.850
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
Yes
2013-04-01 TOP PICK LNV-T Longview Oil

Heavy oil.  Trading at .6 times NAV.  12.68% sustainable distribution.  He thinks it is incredibly cheap.  Thinks it will track back to previous levels.

 Price:
$4.920
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
Yes
2013-04-01 WEAK BUY LW-T Leisureworld Senior Care Corp

7% yield.  He sold about 6 months ago.  Great managers.  You don’t have to deal with the US assets.  It is all Ontario based nursing and retirement homes.  Dividend is safe and conservative.  He got out because of valuation.  There is nothing wrong with it.  There will be a significant amount of CAP-X to keep it up to date.  They rely on provincial support.

 Price:
$12.760
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
No
2013-04-01 PAST TOP PICK MEQ-T Mainstreet Equity Corp

(Top Pick Apr 25/12, Up 30.12%)

 Price:
$31.620
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
Yes
2013-04-01 PAST TOP PICK TMC-T Timbercreek Mortgage Investment

(Top Pick Apr 25/12, Up 1.43% Total Return) It earns a 6% yield so you don’t get much price action out of it.  It is secured mortgages that are well diversified. [Mr. Gardner said on the show that he thought distributions were on top of the return listed, but the BNN news letter lists this figure under total return.]

 Price:
$10.080
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
Yes
2013-04-01 PAST TOP PICK WFC-N Wells Fargo

(Top Pick Apr 25/12, Up 13.5%)

 Price:
$36.930
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
Yes
2013-04-01 DON'T BUY Y-T Yellow Media Inc

He was a debt holder before the restructuring. He sold the equity and the convertibles, but holds the debentures.  Print media is collapsing although not going down as fast as analysts had predicted.  It has restructured into a company with a rational balance sheet.  He likes the bonds but the equity is fully valued.

 Price:
$9.330
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
SELECTIVE
Owned:
Yes
2013-01-21 N/A A Commentary A Comment -- General Comments From an Expert

Markets. We know there are still problems with the US budget spending and that will come out in the next 6 weeks to 3 months.  But Obama is dealing with a better economy than last term.  He was in crisis management mode but now he can think about policy.  The S&P did better than TSX because it is more diversified.  He is not changing his investment policy in Obama term 2.  He likes dividends and golds.  He says it is time to put your contrarian hat on, but dividends are still the main focus.

 Price:
$0.020
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH on DIVIDEND STOCKS
Owned:
_N/A
2013-01-21 HOLD A Commentary A Comment -- General Comments From an Expert

Yellow Media Bond. 80 cents on the dollar when the new bonds were issued.  He is going to be transitioning out of them in the next year.  You get well compensated for owning a distressed bond.

 Price:
$0.020
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH on DIVIDEND STOCKS
Owned:
Yes
2013-01-21 TOP PICK BA-T Bell Aliant

7.2% yield.  They are spending so much putting fiber to the home.  They are gaining market share through that.  But paying out almost 80%, so there is a fear of cutting their distribution.  But when they cut their CAP-X it will be a lower payout ratio and you never know if Bell will buy them out in the future.

 Price:
$26.400
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH on DIVIDEND STOCKS
Owned:
Yes
Showing 1 to 15 of 915 entries
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