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

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Colin Stewart , Portfolio manager

JC Clark Investments Ltd.


Date Signal Chart Symbol Company Opinion Price
2014-04-22 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

US Economy. Has been some recent concerns that there has been some slower data in the last few months, with some of it being weather related. The very harsh winter had a negative impact on certain sectors such as transportation and retailers. His view is that the US economy is gradually getting better with unemployment coming down, corporate earnings still growing and the federal reserve still relatively supportive with a very low interest-rate policy, which he thinks will be in place for some time. Earnings really have to kick in here to propel share prices higher. Corporate balance sheets, being very healthy, companies have more cash than they know what to do with. In today’s low interest-rate environment, for companies to be sitting on billions of dollars of cash earning a treasury bill rate, is not really doing shareholders a lot of good so he thinks there is a lot of pressure to put that cash to work. With CEOs more optimistic and feeling better about the economy, we will be seeing more and more deals for mergers and acquisitions.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
_N/A
2014-04-22 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

US Housing. It seems like this has flat lined and taken a paused for a while. He sees another leg up soon. Timing is always elusive and difficult to figure out. Very simplistically many, many studies have shown that over a long period of time, the US needs about 1.3-1.5 million new homes built every year, just to keep up with population growth and immigration. Over the last several years, housing starts have been running at anywhere between 600,000 and 900,000 so not enough homes are being built to satisfy that natural demand. Thinks that over time there will have to be a reversion back to the mean and housing starts to go back to the 1.3-1.5 million range. (See Top Picks and Past Picks.)


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
_N/A
2014-04-22 HOLD Must be logged in to use chart AA-N Alcoa

A very good, large cap aluminum producer levered to the US economy and into the global economy. There is a trend towards light weighting in cars as opposed to having a lot of steel in your cars. Feels it has good long-term prospects.


Price:
$13.510
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
No
2014-04-22 HOLD Must be logged in to use chart AD-T Alaris Royalty

A company that has been able to acquire cash flow generating businesses. They use their currency to make a lot of acquisitions and pay a nice dividend out over time. That outlook is still intact. Has had a pause, but long-term the outlook is positive.


Price:
$27.080
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-04-22 PAST TOP PICK Must be logged in to use chart ANS-T Ainsworth Lumber Co. Ltd.

(A Top Pick April 16/13. Down 4.31%.) Sold his holdings when there was a takeover offer.


Price:
$3.800
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
No
2014-04-22 SELL Must be logged in to use chart ARE-T Aecon Group Inc

Doesn’t follow this closely, but it has performed well and if you own, he would be inclined to take profits. One of the challenges in the engineering/construction business is that it can be “boom and bust”. When oil/gas sector is doing well, they win a lot of contracts as well, but there are risks that when the going gets tough, they can be locked into contracts that could have costs overruns.


Price:
$18.490
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
No
2014-04-22 COMMENT Must be logged in to use chart ATD.B-T Alimentation Couche-Tard (B)

Very good business. They have been a consolidator in the convenience store/fuel station business. His concern is that the share price is quite expensive at about 19X earnings.


Price:
$89.030
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
No
2014-04-22 COMMENT Must be logged in to use chart BAC-N Bank of America

Preferred Citigroup (C-N) which was a little bit cheaper, trading at about 8.9X on a forward basis compared to this one at about 10X. Citigroup also has a more interesting upside on the dividend side when the Federal Reserve will give them the ability to increase their dividend. However, he likes the whole sector. As the economy and housing gets better, all the US banks should do well.


Price:
$16.290
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
No
2014-04-22 DON'T BUY Must be logged in to use chart BBD.B-T Bombardier Inc (B)

There is a lot of optimism about the C series. This is a name he has stayed away from over the years. Has been disappointing constantly and has a lot of leverage on its balance sheet. This is not an easy business.


Price:
$4.030
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
No
2014-04-22 TOP PICK Must be logged in to use chart BRP-T Brookfield Residential Property

A play on US housing, a trend he likes which he expects will continue to improve over the next number of years. One of the leading land development companies and homebuilders. The difference between them and other homebuilders is that they have about half their business in Western Canada, which has been very strong with the other half in the US. Almost more of a land development business where they make their profits by developing and selling lots than they do from building homes. Rising home prices in the US would lead to strong appreciation in land prices. Have about a 20-25 year inventory of lots in land, where the traditional homebuilder has only a 4-6 year inventory.


Price:
$22.830
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-04-22 TOP PICK Must be logged in to use chart CFX-T Canfor Pulp Products

A large producer of softwood pulp in North America which goes into producing things like tissue paper, etc. Benefiting from current strong pulp prices and a weak Cdn$. Thinks it is going to generate a very significant amount of free cash flow over the next couple of years, in excess of $1 a share. Yield of 1.86% and there is a very strong possibility that this will be increased significantly over the next 12-18 months.


Price:
$11.170
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-04-22 TOP PICK Must be logged in to use chart CSW.A-T Corby Spirit and Wine (A)

Trading at a discount of 11X EBITDA versus 18X EBITDA of other companies. 3.5% dividend yield, so you get paid to wait. Undergoing a fairly major expansion in the US with their J P Wiser brand, one of the leading brands of rye whiskey in Canada. This is a really hot trend today in the spirits market. If successful with the expansion in the US, there could be a significant earnings upside. The wildcard is Pernod Ricard, the 4th or 5th largest liquor company in the world that owns 50% of this company. They might make a bid for the rest of Corbys. Yield of 3.44%.


Price:
$21.020
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-04-22 BUY Must be logged in to use chart CWL-T Caldwell Partners Int'l (A)

A business that generally is going to benefit from a recovery in the economy. Have done a great job of expanding outside of Canada into the executive search business in the US in the last few years. As the US economy improves, the business and the number of searches they do will improve. Has a very large cash balance of about $0.45-$0.50 as share. Pays a nice dividend of 6.8%.


Price:
$1.030
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-04-22 PAST TOP PICK Must be logged in to use chart DI.UN-T Dundee International REIT

(A Top Pick April 16/13. Down 2.25%.) Sold his holdings about 6 months ago when he had a concern about interest rates moving higher. Still feels it is a well-run REIT. Has a lot of properties in Europe which is more of a play on what is going on over there.


Price:
$9.550
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
No
2014-04-22 HOLD Must be logged in to use chart DIS-N Walt Disney

A stock that has performed very, very well over the last 5 years. Recently had a bit of a setback but the market has also come back so wouldn’t read too much into this. A very high quality company. There is more and more value being put on content and this is one of the leaders in content. A good blue-chip stock to own.


Price:
$79.450
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
BULLISH on US ECONOMY
Owned:
No
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