stockchase picture

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

Expert Index

List by First Name

List by Last Name

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
2015-07-20 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  You can use the fundamentals’ excuse to explain gold’s decline, but technically gold is breaking down and the Fed is going to raise rates.  So all those things together create a very bearish environment for gold companies.  It’s about the gold companies’ balance sheets and who they owe debt to.  When gold companies are stable they can survive and then go buy a distressed company.  In the last week or two it has been a complete capitulation on resources.  He is half weighted to gold.  He owns FNV-T and Ross Gold.  He does not need to worry about what the index is doing.  It may not be time yet, but we are getting closer.  Gold cracking $1000 would get you scratching your head and wondering who would do better.  You are at an inflection point where US and global markets have outperformed over the last few years and the dollar only has so far to depreciate.  Earnings are based on access to the US economy, so soon you will want to move out of a US exposure into Canada. 


Price:
$0.020
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
_N/A
2015-07-20 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Banks have been amazing investment returners over the last couple of decades.  He does not believe in shorting Canadian Banks.  Most banks have diversified out of the Canadian market.  A core amount of earnings are going to come from US and global sources.  He thinks they will get your 8-10% returns over the next year or two.  


Price:
$0.020
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
_N/A
2015-07-20 BUY Must be logged in to use chart ACC-T Amica Mature Lifestyles

Regal was paid a premium of 18% when they made an acquisition.  He has owned ACC-T for a long time.  There are growth issues.  It is a demographic play and is best in class for its sector.  He thinks there will be price pressure to the upside on this one.  It is either a re-rating or a buyout story. 


Price:
$8.750
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
Yes
2015-07-20 TOP PICK Must be logged in to use chart BAC-N Bank of America

Finally they beat numbers.  The litigations risks are cooling down.  They will benefit from the US housing recovery.  0.8 times book value. 


Price:
$18.120
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
Yes
2015-07-20 DON'T BUY Must be logged in to use chart BBD.B-T Bombardier Inc (B)

It’s a hard business.  We have watched the ‘C’ series really crush their balance sheet.  Takeout would be impossible.  It is labour intensive and involves unions.  It has all the ingredients of bad.  Everything is wrong with them for his firm.


Price:
$1.880
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
No
2015-07-20 DON'T BUY Must be logged in to use chart BCE-T BCE Inc.

He found it got incredibly expensive.  It has flat lined.  Their dividend is high and capital structure is high.  The Netflix’s of the world are cutting cable revenues.  It has a great free cash flow yield.  He just needs some kind of entry point like a 5-10% pull back.  It trades at a high level globally.  Don’t buy any of these now.  He prefers legacy assets at the moment.


Price:
$54.520
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
No
2015-07-20 WEAK BUY Must be logged in to use chart CSH.UN-T Chartwell Seniors Housing

Removed from the REIT index last week.  Retirement homes, nursing homes.  They did very poorly in the US and got out.  They now have the ability to spend and acquire.  You are playing the proper demographic.  He thinks it is on the cheaper side, as are many of these.  You may see more M&A in this sector. 


Price:
$11.870
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
Unknown
2015-07-20 BUY Must be logged in to use chart CTC-T Canadian Tire Corporation Ltd

It got revalued.  It benefits from Target walking away from Canada.  They executed well and are good long term thinkers.  He thinks it will continue.


Price:
$217.520
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
Unknown
2015-07-20 COMMENT Must be logged in to use chart CUF.UN-T Cominar Real Estate Inv Tr

Multi asset properties - industrial and retail.  They were light on their numbers for a couple of quarters.  The payout should be fine.  You will not get much drama from these kinds of assets.  He prefers B2B REIT.  The dividend is sustainable. 


Price:
$18.120
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
Unknown
2015-07-20 STRONG BUY Must be logged in to use chart DH-T DH Corporation

Going into the US you have to deal with US regulation.  You have no control.  They have been amazing acquirers.  It is a core position of his.  The yield is covered.  They are getting scale.  He would wait for a better time, but does not know if you will see it.  Don’t wait too long.


Price:
$41.330
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
Yes
2015-07-20 WAIT Must be logged in to use chart HCG-T Home Capital Group

They terminated 15% of their broker relationships last week.  They found out they are taking on too much risk.  They cut their growth targets.  He does not know if there is more bad stuff to come.  Wait a quarter to see what plays out.


Price:
$32.040
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
No
2015-07-20 TOP PICK Must be logged in to use chart MEQ-T Mainstreet Equity Corp

It is not cheap for a reason.  2-3 story apartment buildings in Calgary and BC.  They are seeing weakness out of Saskatoon.  They are holding up otherwise.  They are great at returning 15% as an internal rate of return.  When you get ejected from your house, where do you go?  An apartment.


Price:
$35.810
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
Yes
2015-07-20 PAST TOP PICK Must be logged in to use chart MTG-T Timbercreek Senior Mortgage

(Top Pick July 8/14, Up 0.44%) There is an anomaly because this senior mortgage is trading below timber creek.  This is a temporary thing and it should trade up.


Price:
$8.330
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
Yes
2015-07-20 DON'T BUY Must be logged in to use chart NWH.UN-T Northwest Healthcare Property REIT

He sold it quickly after buying it in 2010.  They had a global health care REIT.  They were running two different businesses.  Should you worry about the global side or the Canadian side.  The end result has been that it is down $2.  They just merged Brazilian/German assets into one entity.  He would avoid this story.


Price:
$8.150
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
No
2015-07-20 SELL Must be logged in to use chart RUF.U-X Pure Multi-Family REIT LP

Mostly homes in the US, so it is a play on the recovery in housing in the US.  Management is focused on more than one company and he does not like that.  He prefers TCN-T.  He has exited out of RUF.UN-T.  Sell half or hold, but do not increase.


Price:
$5.060
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
No
Showing 1 to 15 of 1,145 entries
First Previous 1 2 3 4 5 Next Last

No Comments.


You must be logged in to comment.