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

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John O'Connell, CFA , Chairman and CEO

Davis Rea


Date Signal Chart Symbol Company Opinion Price
2014-08-11 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. Markets have had a pretty good run for 3 or 4 years. When it fell 300 points recently, people were asking “What happened?”. It’s nice to see that sense of caution creeping into the marketplace. Part of it is well-founded because the stronger economic numbers we are seeing along, with the improvement in the labour force in the US is giving investors pause to think as to how low interest rates will stay, and how much longer. At the same time we are continuing to see reasonably good economic numbers and positive earnings announcements. We are in that happy balance, but it is harder to find bargains. There are storm clouds on the horizon. Expect volatility for a little bit. There is a lot of margin debt in the system. There are signs of increasing speculation, not so much in the equity markets, but what equity investors should be keeping an eye on is what happens in the credit markets. Recently there have been more and more finance companies selling sophisticated packaged loan portfolios to unsuspecting sheep. Brokers are making a lot of money doing it. That got us into problems in the 1st place.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
_N/A
2014-08-11 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Bonds. This is the biggest market in the world along with the currency market. If you want to look for trouble, it always appears in these 2 markets first. Doesn’t feel the stock market is in a bubble. Central banks are trying to encourage risk taking. We are confiscating money from savers and subsidizing borrowers. We are trying to re-inflate a new era of economic activity, fuelled by more and more debt. We seem to be in one of those situations where we are pushing on a string. Regardless of how low interest rates are, people just don’t want to borrow money.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
_N/A
2014-08-11 DON'T BUY Must be logged in to use chart AD-T Alaris Royalty

Alaris Royalty (AD-T) or KKR (KKR-N)? Two very, very different operations. Like brokerage firms and private equity firms, most of the profits walk out the door to the general partners. Shareholders are often an afterthought. Right now, with asset prices being pushed very high, it is a real dilemma for these private equity firms, because they are paid to invest money and they get paid big, big fees and big bonuses to invest money. They can borrow money really, really cheap, but it is increasingly difficult to find things to acquire at cheap prices. They are making money right now on things that they had bought 5 years ago, when the end of the world was coming.


Price:
$32.350
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2014-08-11 DON'T BUY Must be logged in to use chart AVO-T Avigilon Corp

He was Short this at about $26, just before their numbers came out. This is a company that is making a very good product, sales are growing very, very rapidly, and it is a high multiple stock. This is the kind of stock that a lot of hedge funds own because they are fast growers. When growth disappoints, everybody tries to leave at once. This is now a “show me” story. Expect it is dead money for a little bit. Trading at a huge premium multiple.


Price:
$20.380
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2014-08-11 BUY on WEAKNESS Must be logged in to use chart BAD-T Badger Daylighting

Just reported earnings and the numbers looked good because they made an acquisition, but if you strip out the same-store sales, they are not quite as good and their margins were declining. Trades at a fairly rich valuation. He would look at this in the low $30s.


Price:
$35.390
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
No
2014-08-11 COMMENT Must be logged in to use chart BNS-T Bank of Nova Scotia

How do I activate a DRIP program on this? This is a good bank. The best way to do this is to call your broker or discount broker and tell them what you want to do. This is an excellent decision if you want to own a stock for the long haul.


Price:
$72.050
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-08-11 PARTIAL SELL Must be logged in to use chart CF-T Canaccord Financial Inc

Brokerage firm profits will go up and down with the general level of the stock market. Highly cyclical businesses. This one has had a big run. They were involved in a very, very large financing, and a lot of investors bought the stock in advance of them reporting their earnings. Generally you want to buy these stocks when the stock market is on its knees. You are in late stage innings. Financing could continue, but it is highly competitive right now. You are into a late, late stage of the game. If you own, consider trimming at least half your position.


Price:
$11.760
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2014-08-11 BUY Must be logged in to use chart CMI-N Cummins

An excellent company. Great long-term growth potential. Manufacture engines, diesel engines for trucks and generators. Highly innovative. If the US and Canadian governments get their act together and encourage the adoption of compressed natural gas to run engines, this company would be a huge, huge winner. Has come off a little bit, which represents an excellent opportunity.


Price:
$141.800
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-08-11 PAST TOP PICK Must be logged in to use chart CSCO-Q Cisco

(A Top Pick Sept 6/13. Up 10.48%.) Still likes this very much. Trades at a below market multiple. They still are building big, big parts of the backbone for the Internet. The Internet is going to continue to grow. There is some discussion out there as to whether this company should be broken up into a growth company and a sort of, grow slow company. Still thinks it has good growth potential in front of it. 3% plus dividend.


Price:
$25.230
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-08-11 TOP PICK Must be logged in to use chart EFN-T Element Financial

Just recently bought PHH Arval in the US, and he thinks there are huge, huge synergies. If you want to own a financial without exposure to Canadian housing, but exposure to the US housing market, this is where you want to be. In 2015, it is going to have cash earnings of around $1.25, assuming no further acquisitions. Trading at a market multiple for financials, but is growing much, much faster. Thinks that in 2016 they’ll want to issue a dividend. Feels that a midsize regional bank will eventually acquire this company.


Price:
$13.590
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-08-11 DON'T BUY Must be logged in to use chart FTT-T Finning Int

(Market Call Minute.) Has a new CFO. Thinks they are turning the business around. The mining business is going to be a little bit challenged. He would go to Cummins (CMI-N) instead.


Price:
$33.700
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2014-08-11 PAST TOP PICK Must be logged in to use chart GOOGL-Q Google

(A Top Pick Sept 6/13. Up 31.13%.) Announced some really great earnings. Their “cost per click” continues to go down, but the number of clicks continues to grow at a much faster pace. They have some competitive threats, but he loves the Android Operating system. Have about 85% market share.


Price:
$577.250
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-08-11 DON'T BUY Must be logged in to use chart III-T Imperial Metals Corp

Had a horrible situation where a dam burst and flooded their BC mine. This is now a political situation, no longer economics. You don’t know how much they are going to get fined or when they are going to be able to open that mine again.


Price:
$10.520
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
No
2014-08-11 PAST TOP PICK Must be logged in to use chart INTC-Q Intel

(A Top Pick Sept 6/13. Up 50.73%.) He liked it because people were overly pessimistic. It was paying a good dividend. Financially strong. They are fixing the problem now. It is a lower margin product. Got to a level that he thought was pretty reasonable, and he Sold his holdings.


Price:
$33.020
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
No
2014-08-11 TOP PICK Must be logged in to use chart KEL-T Kelt Exploration

Very strong management team. Reporting earnings tomorrow and will probably be 11,000 BOE’s a day exit rate for the 2nd quarter. A year from now, they should exit at about 18,500 BOE’s a day and that’s with only 60% success of their drilling program, which is really conservative. Very conservative management team and they own big positions in the company. Debt-free. Have great lands.


Price:
$12.570
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
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