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

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Don Lato , President

Padlock Investment Management


Date Signal Chart Symbol Company Opinion Price
2015-07-15 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Economy. Bank of Canada cut the overnight rate by 25 basis points, and the reaction to the loonie was quite astounding. This is an unusual situation, because the loonie is not weak as we have seen in other recessions. They are saying that the 2nd quarter is going to be negative and when that is confirmed then we are officially in a recession. It is a different type of recession, because it is certainly not a recession in housing or the financial sector. It is really on the commodity side, which is something out of our control. Managers are reluctant to make long-term commitments to capital spending. We have seen a weaker dollar for the last 8-9 months, but it has not been long enough for them to put shovels in the ground and ramp up that manufacturing side. 1.5% GDP growth is forecasted for 2015 and you have negative first 2 quarters, which means they are expecting a pickup in the 2nd half of the year. We have been bombarded with issues such as Greece and China for months and months, but the economy is moving along very, very nicely. Hasn’t been a buoyant recovery, but it has been strong and steady.


Price:
$0.020
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
_N/A
2015-07-15 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Canadian housing market? Just as the overall economy is unusual, so is the housing market. If there is a housing bubble, it is going to be confined to Toronto and Vancouver. If you go across the rest of the country, in some of the smaller communities there is no housing bubble and there hasn’t been huge appreciation, in spite of low interest rates. A lot of US money managers have been shorting our banks as a way of exploiting a Canadian housing bubble, but they are forgetting that our housing market and banking system work very, very differently from what the US does. We are not going to have a repeat of the US situation back in 2008-2009.


Price:
$0.020
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
_N/A
2015-07-15 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Canadian Banks? Generally businesses change and industries change. If you had said 30 years ago that people are never going to go into a bank again to get their money out, nobody would have believed you. Industries evolve and they will evolve with it. They may end up with a lot of expensive real estate, but part of the evolution of business is adopting new technology and using those technologies in their business. We have some pretty smart people running our Canadian banks. It’s a great oligopoly situation, so we don’t have to be too concerned about them shutting the doors anytime soon. They have been moving more and more towards online banking.


Price:
$0.020
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Unknown
2015-07-15 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

ETF’s or stocks in a TFS account? Part of this decision would be the amount of money that you have to invest to get a properly diversified portfolio of equities. It is pretty difficult if you don’t have the capital of $100,000 or more to assign to an equity portfolio. If under $100,000, you are probably best served by going the ETF route, and diversifying by country and market size.


Price:
$0.020
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Unknown
2015-07-15 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Biotechs. Thinks you can buy selectively in this group. You have to be very careful because the multiples range from 14-15 times earnings to 50-60 to 100 times for some of the upstart companies. If you are looking for a broad array of companies, you could do it through a biotech ETF. He holds Gilead Sciences (GILD-Q).


Price:
$0.020
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Unknown
2015-07-15 BUY Must be logged in to use chart AAPL-Q Apple

At 13X earnings, even before you strip out the cash, you can buy this today and not be concerned about where the stock is going to be 2 or 3 years from now.


Price:
$126.820
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-07-15 COMMENT Must be logged in to use chart BBD.B-T Bombardier Inc (B)

Tough business. High fixed costs. Long, long lead times until they can get their product to market. Brought in new management which hopefully will help the situation. They are still going to bleed cash for the next couple of years, both on the C series before it gets into full production and on the commercial jet 7000 and 8000 series. If you want to be in this, look to trade it as opposed to buying it as a good company and sticking with it. He has no interest in this.


Price:
$1.900
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2015-07-15 HOLD Must be logged in to use chart CCL.B-T CCL Industries (B)

He bought this about a year ago and is very happy with it. The price has done well and the multiple has crept up a little as well. Had some nice earnings growth. They have been a big beneficiary of the falling Cdn$ because most of their sales are overseas, particularly in the US. This is still a fair price, but not a cheap one anymore.


Price:
$167.660
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-07-15 BUY Must be logged in to use chart CPG-T Crescent Point Energy Corp

One of the energy names that you can step into. He doesn’t know when the turn is coming in the price of oil, so you have to be very careful if you are going to be in the sector. Stick to high-quality names like this. The yield is very attractive. Even if they have to shave it a little bit, it is not going to be the end of the world.


Price:
$23.100
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2015-07-15 HOLD Must be logged in to use chart CSCO-Q Cisco

Thinks the outlook is pretty good. Has positioned itself across many parts of the Internet of things and the whole wireless revolution. It is a big ship to turn around and get rapid earnings growth from. At its current price he thinks there are better places to be in tech. If you are holding it, it is going to do well. Pays a decent dividend.


Price:
$28.110
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Unknown
2015-07-15 BUY Must be logged in to use chart CSH.UN-T Chartwell Seniors Housing

(A Top Pick of his in May.) This has huge demographic tailwinds behind it. Recently sold all their US properties, and reinvested some of those funds in Canada. Very good payout ratio. Yield of about 5.5%. A good, long term play for both income and capital appreciation.


Price:
$11.810
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-07-15 COMMENT Must be logged in to use chart DOL-T Dollarama Inc.

He is getting very, very nervous about holding this. It has been a great performer, but the multiple is getting up there at about 25 or 26 times next year’s earnings, which is richer than what he normally likes to pay for stocks. They have a problem with the Cdn$, because most of their goods are imported, which will be a little bit of a squeeze on margins.


Price:
$80.400
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-07-15 COMMENT Must be logged in to use chart GILD-Q Gilead Sciences Inc.

This has the Harvoni-Solvadi drug for treatment of hepatitis C. Has had a lot of press about the cost of the regimen. They also have other things in the pipeline. Trading at about 14-15 times next year’s earnings, a very, very reasonable multiple.


Price:
$117.390
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-07-15 TOP PICK Must be logged in to use chart GLW-N Corning Inc

The view on this depends on what your thoughts are about 4K TVs. Merrill Lynch says 4K TV is not coming out anytime soon and you should not be in this company. RBC is a believer in 4K TV as the next driver of the earnings growth for this company. As you see companies like Netflix and Amazon producing more and more of their content with 4K capabilities, it is going to bring on demand. Prices are coming down to not much more than a regular LCD TV, which will probably kick up the next leg of television purchases. This is where this company does 40% of their business. Dividend yield of 2.52%.


Price:
$19.060
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-07-15 HOLD Must be logged in to use chart KKR-N KKR & Co. LP

This had a great couple of years in 2012-2013. Has gone flat for the last 18 months or so. However, it pays a very high distribution.


Price:
$24.040
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
Showing 1 to 15 of 1,062 entries
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