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

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James Hodgins , Chief Investment Officer

Curvature Hedge Strategies


Date Signal Chart Symbol Company Opinion Price
2015-05-26 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. If you presume that zero percent interest rates are going to continue, you could say valuations are fair, but on the high-end of fair. If there is a rise in interest rates or some kind of recession or demand downturn, then valuations are very stretched. Historically, looking at the Schiller Cyclically Adjusted PE, we are really at the highest level, with only the 2000 tech bubble peak being higher. We are at very high margins and we have very high valuations. He is cautious, but has been so for a long time. The counterbalance is that central banks have been so aggressive going back to 2001-2002. As long as money printing is the flavour of the day for central banking, it is tough to be too negative on risk assets.


Price:
$0.020
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
_N/A
2015-05-26 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Canadian Banks. Doesn’t trade banks, but he has to have an opinion on the financial sector in order to position his portfolio. Canadian banks are probably okay in the next 6 months. However, the Canadian economy, particularly the consumer economy, is highly levered and addicted to very low interest rates. If interest rates rose 2%, think about what would happen to the average homeowner. The same with lines of credit and all the other types of loans that are out in the economy. If there is ever a sense that the Bank of Canada is going to start raising interest rates, there is going to be a shock to our economy, particularly to the financial side.


Price:
$0.020
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
No
2015-05-26 COMMENT Must be logged in to use chart ACQ-T AutoCanada Inc.

Has a small Short position in this. Have a lot of Western Canadian exposure, which is likely going to pressure their sales. Expectations for a rebound are probably overstated on the street. Thinks analysts estimate earnings are going to come down, which will keep the stock under pressure.


Price:
$41.700
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
Yes
2015-05-26 COMMENT Must be logged in to use chart CCO-T Cameco Corporation

He holds a small position. Thinks uranium has likely bottomed. Japan is slowly likely to come back online. Sentiment around the sector is improving. Thinks this is fine here. If he is right, and the sentiment improves in the sector, this could be a decent investment in the next 6-12 months.


Price:
$18.760
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
Yes
2015-05-26 COMMENT Must be logged in to use chart DCI-T DirectCash Payments Inc

Has a Short position, basically because their fundamental business, non-bank ATMs, is in decline. There is a lot of competition and people are using other payment methods. Expects the decline, at some point, is going to accelerate. When that happens, the 8.8% dividend will be unsustainable.


Price:
$16.260
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
Yes
2015-05-26 TOP PICK Must be logged in to use chart EQI-T Equity Financial Holdings

(A Top Pick June 20/14. Down 9.95%.) The story has not changed. They hired a new CEO and have spent the last year rebuilding the talent base in terms of mortgage originations within the company. Trades below its Book Value, only because the mortgage book shrank over the past year because no one was selling mortgages. They have now re-staffed, so you are going to start to see the mortgage book grow again, which he expects to happen this quarter. When that happens, and the market sees that turn, it is going to start pricing in looking forward. Could see a double in 2-3 years with very little risk.


Price:
$9.060
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
Yes
2015-05-26 BUY Must be logged in to use chart FFH-T Fairfax Financial

The one thing you know you are getting with this company is a pretty sharp financial operator running the show. You are also effectively buying downside protection on the economy. He understands they have $10 billion in Puts on the CPI, so they are betting on a low or negative inflation.


Price:
$617.500
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
Yes
2015-05-26 PAST TOP PICK Must be logged in to use chart GXI-T GuestLogix

(A Top Pick June 20/14. Down 37.8%.) Over promised and under delivered. Had reported they had doubled their backlog, and he felt that as they delivered on that backlog, the stock would go up with that. Some of those contracts disappeared and the rest had not been nearly as profitable as some of their prior contracts. Some activists have now evolved to try and fix that. When he sees one of his positions miss their high expectations, that’s when he exits.


Price:
$0.790
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
No
2015-05-26 TOP PICK Must be logged in to use chart IGG-T Innova Gaming Group

There is no coverage on the street as yet. Once that happens and it gets more publicity, it will go higher as it gets better known. They make video lottery terminals that the OLG and Lotto Quebec are putting in bingo halls. Also, have 4 states that are trying them out. They provide a slot machine like experience. They get really good traction and share the revenue effectively with the OLG. It is a recurring revenue model. He has them trading on a forward basis at 4.5X EBITDA, which he thinks is way too cheap. OLG is planning on expanding this pretty quickly throughout Ontario, and maybe even trying it in bars as well.


Price:
$3.960
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
Yes
2015-05-26 DON'T BUY Must be logged in to use chart KLS-T Kelso Technologies Inc

This was a hot stock in the crude by rail sector. That bubble is now over. However, this company has technology that increases the safety. He thinks that adoption will continue, but at a slower pace.


Price:
$4.340
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
Unknown
2015-05-26 DON'T BUY Must be logged in to use chart MRE-T Martinrea

Have recovered from their problems of a couple of years ago. Auto sales have been incredibly strong both in North America and globally. This is a fine enough company, but feels we have reached a peak in auto sales. You are starting to see this in the inventory numbers of the manufacturers. He would stay away from the whole sector.


Price:
$13.730
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
Unknown
2015-05-26 COMMENT Must be logged in to use chart MSL-T Merus Labs International

Still likes this and thinks there is a lot of upside to come. However, there is some risk in the near to medium term. They, along with everybody else, who manufactures and sells drugs in Germany, are subject to a price cap review, and there is likely going to be a cap put on the price of their key drug Enablex. They are diversifying away from this, but there is some near-term risk to the stock. In a 2-3 year timeframe, he thinks you are going to see 2 to 3 times on the stock. Definitely a buy for the long-term, but pick your spots. Loves the new CEO.


Price:
$2.900
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
Yes
2015-05-26 HOLD Must be logged in to use chart OTC-T Open Text

This pulled back on its earnings. They are trying to go more towards Cloud, but there is a lot of competition there and they are kind of a stock with more legacy software systems. While having poor earnings in the short term, they generate a tremendous amount of cash flow from their legacy products. It has been an acquisition machine historically, and have proven to be pretty good operators. If you are looking for a longer-term Hold, this is fine.


Price:
$53.150
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
No
2015-05-26 COMMENT Must be logged in to use chart PHM-X Patient Home Monitoring

Raised quite a bit of capital and have been highly acquisitive. Have also been pretty successful in driving organic sales growth by cross-selling their products. Effectively they buy home medical products that have big patient lists, which they can then go and cross sell to the other products. They just keep acquiring and doing this. Trading at something like 3 to 4 times forward-looking EBITDA. There are good things happening with this company.


Price:
$1.560
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
Unknown
2015-05-26 PAST TOP PICK Must be logged in to use chart SCR-X TheScore Inc.

(A Top Pick June 20/14. Up 94.29%.) Still likes this. Growth has been better than he had expected. Some of the things they are doing, like getting into daily fantasy sports and Esports, is going to continue to grow sales. They have quite a war chest of cash now, and wouldn’t be surprised to see them make an acquisition. At some point he could see them launching in Europe, which would be pretty interesting. They have a very valuable user base.


Price:
$0.660
Subject:
SMALL & MID-CAP
Bias:
CAUTIOUS
Owned:
Yes
Showing 1 to 15 of 733 entries
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