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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
2014-06-20 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. Short-term he is neutral. Intermediate and longer term he is extremely bearish. Using the S&P as an example, the EPS is about $120 a share on a go forward basis. 18-19 times is pushing the higher end on the valuation side, even in the short term. However, that is at peak corporate margins while net margins are somewhere in the 7%-8% range. Historically, over a full cycle, the long-term average is closer to 4%-5%. So if you have more than an average margin, then you are looking at somewhere between 40%-50% downside, just in terms of the current PE ratio. If that P/E ratio also contracts, which is likely if interest rates do rise, you could see even more downside than that. The catalyst for a decline would likely be some sort of rise in interest rates. He would definitely be lightening up on equities over the next few months.


Price:
$0.020
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
_N/A
2014-06-20 DON'T BUY Must be logged in to use chart AVO-T Avigilon Corp

Sells hardware/systems for security for small and mid-cap sized companies. Had a really good 3 year run where they didn’t face much competition. Now competition is really heating up. A larger company has dumbed down a more elaborate system into their price range. He is Short this.


Price:
$23.320
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
Yes
2014-06-20 COMMENT Must be logged in to use chart AYA-T Amaya Gaming Group Inc.

Not trading through $20 because you’ve got some hedge funds that are Shorting the trading stock and buying the sub receipts. He would buy the sub receipts if you could get some, and then wait until the deal closes to get the free trading stocks.


Price:
$20.850
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
Yes
2014-06-20 COMMENT Must be logged in to use chart BXE-T Bellatrix Exploration Ltd.

Recently announced that they had a shut-in with one of their pipelines. Also, did an equity finance, which they cut from $250 million to $150 million. The bloom is off the rose until management gets its message straight.


Price:
$9.200
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
No
2014-06-20 COMMENT Must be logged in to use chart CCO-T Cameco Corporation

If you think uranium is going to go up, he would play it through Uranium Participation (U-T). This company has had some operational issues going back 5 years or so. Also, wound down the decommissioning of the Russian nukes.


Price:
$21.250
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
No
2014-06-20 DON'T BUY Must be logged in to use chart CFN-T Carfinco Financial Group

Has a small Short on this, but is neutral on it. On this pullback he would not recommend a Short. Had a hiccup in the business, but overall it is a good company. Not super cheap, and they won’t have any momentum going in their loan book right now. There is more competition on the low end of their market, and that is kind of hurting them right now.


Price:
$8.680
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
Yes
2014-06-20 COMMENT Must be logged in to use chart CSW.A-T Corby Spirit and Wine (A)

The big story here is still the Wiser’s rollout in the US. They are in something like 12 states now, and their parent Pernod, is pushing it through their US distribution system. They should see a nice revenue and earnings ramp over the next year or so, and then you should see the cash flow.


Price:
$21.100
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
Yes
2014-06-20 HOLD Must be logged in to use chart DEE-T Delphi Energy Corp.

This has been a home run. They have been having tremendous success with the drill bit. Increasing production much faster than the street has anticipated. Even though it has gone up a lot, it is still not crazy expensive.


Price:
$4.460
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
Yes
2014-06-20 COMMENT Must be logged in to use chart DHX-T DHX Media

Still loves this. Likes the Astro Media deal, and thinks it is going to close imminently. This will basically double the cash flow in the company. He thinks the next leg up will be when they re-sign Disney content into the Astro channels.


Price:
$6.510
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
Yes
2014-06-20 COMMENT Must be logged in to use chart DWI-T DragonWave Inc.

Believes they recently won a contract in India. Doesn’t think there will be a rise in the stock. Had an equity deal last fall that was sold on the basis of Softbank buying Sprint which they were going to benefit from. This doesn’t seem to be happening. Also, when they did the equity deal, it was structured in a way that the amount of warrants that investors received went up if the stock price declined. Stock price did decline, and they had to issue a lot more warrants. He has a small Short on this.


Price:
$1.580
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
Yes
2014-06-20 BUY Must be logged in to use chart EFN-T Element Financial

CEO is executing very well, and the company just continues to grow. $4 billion company now, and he wants to get it to $20 billion. Continuing to look for acquisitions. Thinks they got a very good price for the PHH leasing business, and feels it will be highly accretive. Once this deal goes through the market, he thinks you will see $15-$16 pretty quickly.


Price:
$13.300
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
Yes
2014-06-20 TOP PICK Must be logged in to use chart EQI-T Equity Financial Holdings

A turnaround story. He is kind of bearish on the mortgage space longer-term, but this stock is just too cheap to ignore. Trading right around Book Value where its competition is trading at 2-3 times Book. New management really understands the Canadian mortgage business, and they are going to start ramping up the loan originations over the next 6-12 months. As they do that, the valuation gap will close between its competition. Also, likes that management knows we are in a housing bubble, and are being very conservative on the kinds of loans they make.


Price:
$10.050
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
Yes
2014-06-20 DON'T BUY Must be logged in to use chart FLY-X Flyht Aerospace Solutions

They have a black box system for airlines. Thinks this is a bit of a “story stock”, and pretty speculative here.


Price:
$0.370
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
No
2014-06-20 BUY Must be logged in to use chart GPS-X BSM Technologies

Fleet management tracking. Likes this, and it is on his Watchlist. Has pulled back into very reasonable valuation at 7X EBITDA. Recurring revenue. Made a couple of acquisitions recently, so there has been some pressure on the stock from owners of the acquisitions.


Price:
$2.200
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
Yes
2014-06-20 PAST TOP PICK Must be logged in to use chart GUY-T Guyana Goldfields Inc.

(A Top Pick July 25/13. Up 60.76%.) There is a big seasonality trade with gold which he does every year. Starts buying about now. Recently closed an equity deal, and are now fully funded for their mine. NAV is something like $5 a share, and he sees no reason why it would not trade up to this.


Price:
$2.480
Subject:
MARKET NEUTRAL INVESTING
Bias:
BEARISH
Owned:
Yes
Showing 1 to 15 of 639 entries
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