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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
2015-08-28 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  He is not a market timer. His style is to buy good businesses at attractive prices. Holding about 3% cash in his portfolios. His advice to investors would be to not panic. Business and the economy are still good. Let the volatility provide you with opportunities if you’ve got cash, but don’t be panicked into doing something that you might regret 6 months from now. He likes consumer related stocks along with tech. You can start to maybe nibble if we get another downturn in oil prices. Choose the companies with a strong balance sheet. Look for the ones that have fallen the least, not the ones that have fallen the most.


Price:
$0.020
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
_N/A
2015-08-28 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

REITs. Is the potential rising interest rate environment hitting the sector too hard? It could be that people have overcompensated for the anticipated rise in interest rates. Concurrent with a rise in interest rates, generally, is better economic activity so your CAP rate is going to change and it is going to change unfavourably as rates go up. But your rent increases might be easier to obtain, and your vacancy rates are going to be lower. Higher interest rates are not the absolutely worst thing that can happen to the REIT sector.


Price:
$0.020
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
_N/A
2015-08-28 TOP PICK Must be logged in to use chart AAPL-Q Apple

Couldn’t resist using this as a Top Pick with the price in the $112 area. Stock sold off because of fears of China and their exposure, which is not insignificant.  CEO commented this week that they are expanding iPhone sales in China. The Apple App Store in China had its best 2 weeks ever. All those concerns of China may be a little bit overblown. Stock is trading at 11.5X earnings and still the dominant player on the smart phone. IPhone revenues are expected to increase again this quarter. Dividend yield of 1.84%.


Price:
$113.290
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-08-28 TOP PICK Must be logged in to use chart AFN-T Ag Growth International Inc

Performance year to date on the business side has been pretty good. The problem lies in the next couple of quarters. Due to the wet summer in Western Canada, it has taken its toll on the farmers. They greatly decreased their guidance for the 2nd half of the year. With the wet summer behind it and the better prospects next year, you will see growth in earnings resume next year. Dividend yield of 6.34%.


Price:
$38.220
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-08-28 COMMENT Must be logged in to use chart BCE-T BCE Inc.

This is a slow growth, regulated and changing business. Stock price has come down a little off its highs and is pretty reasonable value. A very, very nice dividend. On Dec 16, Pick and Pay kicks in, which might put some pressure on the revenue line. This is probably part of the decline we have seen over the last year or so. He would prefer Rogers (RCI.B-T).


Price:
$53.330
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Unknown
2015-08-28 COMMENT Must be logged in to use chart DIS-N Walt Disney

Price earnings multiple is 20X forward and 21X current. Still a little high, but he does have it on his radar. Thinks the stock acted very negatively to its last earnings report where it talked about some potential subscriber loss on ESPN. A great company, but he would prefer to buy it a little bit cheaper.


Price:
$102.480
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2015-08-28 COMMENT Must be logged in to use chart GOOGL-Q Google

The premise of what they are doing with Alphabet will benefit the shareholders. There have been a number of changes that have happened within the last 3-4 months. New CFO has made the company a little bit more investor friendly. They now have to justify how much money they are spending, as well as how much money they are losing on these ventures. They still dominate the search business. YouTube is becoming a bigger and bigger factor in the entertainment side of the business.


Price:
$659.690
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-08-28 COMMENT Must be logged in to use chart HCLP-N Hi-Crush Partners LP

A fracing sand producer. It has been pummelled this year. They have a number of sand mines, primarily in Wisconsin. They are a big beneficiary of all the fracing and horizontal drilling that has been going on. It shouldn’t trade with the oil price, but it does. Still very profitable. Recently had to cut their dividend to preserve some cash. The future of fracing is still going to be with us for some time.


Price:
$16.050
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-08-28 COMMENT Must be logged in to use chart INTC-Q Intel

Good value here. Not his favourite tech stock. The stock has come down and has a nice dividend. Trades at a very low multiple. Thinks you would be fine with this, but would rather see you in other areas of technology. Dividend yield of 3.3%. (See Top Picks.)


Price:
$28.420
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Unknown
2015-08-28 COMMENT Must be logged in to use chart IPL-T Inter Pipeline

The dividend is very sustainable. They still have some growth to come. There are a couple of new pipelines coming on stream within the oil sands area that is going to increase their capacity a little. Regardless of the price, oil is going to flow through those pipelines, and theirs are very well positioned, with a little bit of a growth kicker put in as well. Dividend yield of 5.5%.


Price:
$27.130
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Unknown
2015-08-28 PAST TOP PICK Must be logged in to use chart JAH-N Jarden Corp.

(A Top Pick Oct 29/14. Up 21.84%.) Still feeling very good about this. Just recently made another acquisition to add to their arsenal. Bought a UK company called Waddington, which makes disposable dinnerware. Has a very strong stable brand. Very solid growth and still a very reasonable multiple.


Price:
$52.340
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-08-28 COMMENT Must be logged in to use chart JNJ-N Johnson & Johnson

Pretty fairly valued. Off its highs. The multiple got a little bit above its historical range. Decent dividend of over 3%. Lots of good products, both on the medical devices side as well as the pharmaceutical side. Thinks there are better ways to play the medical business. A good solid holding that will be around forever. The street consensus is $112 in 12 months, which is a fair target for it.


Price:
$95.170
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2015-08-28 HOLD Must be logged in to use chart NFI-T New Flyer Industries Inc.

Stock is getting fully valued. He just trimmed a little in the last couple of weeks to rebalance his holdings. Still a very bright future. Multiples had gotten up at around the 19X area, but their order backlog continues to grow.


Price:
$18.830
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-08-28 HOLD Must be logged in to use chart PG-N Proctor & Gamble

Thinks the stock is fine. If you have ridden it down it is probably better value now than it was 6-8 months ago. A lot of these consumer staple stocks got to trading at multiples way above their normal historical pattern. Now trading at about 16X next year’s earnings, and trading in line with the market. Dividend yield of 3.7%.


Price:
$71.210
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Unknown
2015-08-28 COMMENT Must be logged in to use chart POT-T Potash Corp of Saskatchewan

Doesn’t think this is a value trap. It is subject to commodity prices, which have been all over the board with respect to fertilizer products. The ramp up of new production has come down dramatically. A couple of mines have been put on the shelf, so he thinks the supply/demand balance will come back more towards Potash’s favour. Doesn’t think there will be a dividend cut imminently as it still has free cash flow to support it, especially since they have curtailed some of their capital projects. Prefers Agrium (AGU-T) because of its diversification.


Price:
$34.310
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
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