Viewing Expert Lorne Steinberg | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

Lorne Steinberg , President & Portfolio Manager

Lorne Steinberg Wealth Management Inc

Address
1000 de la Gauchetiere Street West
Suite 3310
Montreal, QU
H3B 4W5

Contact Info
Telephone: 514-876-9888
Toll Free: 1-866-876-9888
Fax: 514-876-9994
Website: http://www.steinbergwealth.com

Bio:

Lorne Steinberg Wealth Management Inc. provides discretionary investment management services to individuals, corporations and non-profit organizations. At our firm, research is the lifeblood of our company. Through our disciplined investment approach, we aim to grow client capital over time within a lower risk framework -- capital preservation is of paramount importance. We are a management-owned firm and operate without external influence or pressure, free of ties to product providers and financial service institutions.


Date Signal Chart Symbol Company Opinion Price
2017-09-07 TOP PICK Must be logged in to use chart 6930-JP Nippon Antenna

This makes antennas, but at all different technology levels for communication. They have no debt. The share price is less than the amount of cash they have on the balance sheet. Therefore, you are buying the cash at a discount and getting an entire profitable free cash flowing, 3.7% dividend paying company for free.


Price:
$0.000
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Yes
2017-09-07 PAST TOP PICK Must be logged in to use chart 6999-JP KOA Corporation

(A Top Pick Aug 8/16. Up 148.05%.) Japan is the most undervalued major market in the world. They’ve done a terrible job on the consumer products side, but have done an amazing job with electronic components and equipment. The average smart phone has about a 3rd of the components made by Japanese companies that no one has ever heard of before. This company has been making electronic components for over 50 years. They have zero debt, so they can continually invest in R&D regardless of whether the economy is doing well or not. Thinks earnings are going to quadruple over the next decade. A long-term hold for him.


Price:
$0.000
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Yes
2017-09-07 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. The market has done so well in real estate, bonds and stocks with interest rates trading at record low levels that it begs the question that if interest rates rise, it doesn’t sound like it isn’t going to be good for a lot of things. Investors need to take a hard look at some of the things that have done well, like pipeline and utilities. Those sectors are not going to perform well if rates keep going up. Things like REITs are probably going to suffer some pain. The Fed governors expect the short-term rate will be 3% in 3 years time. That is a big jump from today. If that happens, that suggests that 5-10 year bond yields will be somewhere between 4% and 5%, which means mortgage rates take a big jump. It is going to impact corporate capital allocation in terms of share buybacks and the like.


Price:
$0.020
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
_N/A
2017-09-07 COMMENT Must be logged in to use chart AAPL-Q Apple

An amazing world leading company, and even more amazing since Steve Jobs is no longer there. This company meets all his criteria. Great free cash flow and not an overly expensive valuation. However, about half the profits are the iPhone. There is always a risk to that. Does the next product suddenly become the cool thing to own? That would cause this stock to take a big hit. He thinks there is too much risk. It is more of a consumer products company and less of a technology company. Prefers things that have not done very well, but which he thinks will do well.


Price:
$161.260
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2017-09-07 TOP PICK Must be logged in to use chart AEG-N Aegon N.V.

A life insurer in the US and the Netherlands. It is going to be a huge beneficiary of rising interest rates. Selling at an unbelievable cheap valuation, about half of tangible BV. Dividend yield of 5.3%. (Analysts’ price target is $5.60.)


Price:
$5.560
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Yes
2017-09-07 DON'T BUY Must be logged in to use chart BAC-N Bank of America

US banks have all had a great run since Donald Trump got elected. This is a strong bank and a solid company, but he sees better opportunities elsewhere. Prefers Goldman Sachs (GS-N) and Morgan Stanley (MS-N).


Price:
$22.970
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Unknown
2017-09-07 DON'T BUY Must be logged in to use chart CCO-T Cameco Corporation

Probably the best uranium producer globally, but the commodity business is such that uranium prices have been weak and defying expectations for years. It is hard to have an attractive stock when your commodity price is weak. Renewables are filling up a lot of the area that we thought nuclear would eventually take on. The company has a little issue with the CRA on a tax issue, which could cost them several hundred million dollars. There are better places to be.


Price:
$12.270
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2017-09-07 DON'T BUY Must be logged in to use chart CGX-T Cineplex Inc

They’ve done an amazing job and surprised him over the years by creating excitement with all the new blockbuster films. However, the long-term trend is not your friend for this company, because people are buying Netflix and watching more and more stuff at home and on their computer. It’s hard to see that trend changing. Management has done a very good job over the years, it is really just a tough industry.


Price:
$38.030
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2017-09-07 COMMENT Must be logged in to use chart CR-N Crane Co.

Looked at this about a year ago. The company has done well and is not ridiculously expensive. A great, long term industrial. He passed on this because they have an old asbestos liability. Asbestos liabilities have caused serious legal problems leading to massive damage suits in the US, which has killed a couple of companies. With that kind of risk, he passed on this.


Price:
$72.190
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2017-09-07 COMMENT Must be logged in to use chart DB-N Deutsche Bank AG

This was one of his worst performing stocks a couple of years ago, but has been one of his best over the last 12 months. They decided to do an $8 billion-euro capital raise earlier this year, which he participated in. With that $8 billion euros, their ratios are way above where they have to be. They are now well capitalized and are in the midst of huge cost cutting. Selling for about half its tangible BV, and is compellingly cheap. Rising interest rates are a massive boost for this bank. They have great market shares in a lot of businesses. They are now once again well capitalized, and he is comfortable holding it. Doesn’t expect earnings to take off in the next couple of years. Hopes management does some of the things it says it is going to do and gets its businesses back to earning reasonable margins.


Price:
$15.920
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Yes
2017-09-07 COMMENT Must be logged in to use chart DOL-T Dollarama Inc.

He always saw these stores as stores for people who might be having a tough time. However, everybody at every demographic level seems to love shopping at them. The company has done an incredible job. Also, their products do compete with Amazon (AMZN-Q). The stock is just too expensive on a valuation basis for him, however, management is earning that valuation.


Price:
$134.720
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2017-09-07 COMMENT Must be logged in to use chart FLR-N Fluor Corp.

An engineering company. Has been looking at this for the last few years. He passed on it because about half their business is very much tied to the energy industry. They work on a lot of huge mega projects. Energy prices being low has negatively impacted them. The company has massively missed their guidance continuously, for the last couple of years, including their most recent quarterly earnings. Their backlog is declining. The dividend is probably secure.


Price:
$38.960
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2017-09-07 COMMENT Must be logged in to use chart GE-N General Electric

Warren Buffett recently sold his holdings. The company has some outstanding assets and is a huge player in many areas, including renewables. Every time he looks at this, he concludes that this is just not a cheap stock. Even at the $25 level, it is probably selling for around 17 or 18 times earnings. They increase their dividend payout every year, which he is not crazy about. This isn’t a value stock. It is a really good company, probably at an OK price, but there are a lot of struggles.


Price:
$24.020
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2017-09-07 COMMENT Must be logged in to use chart GRC-N Gorman-Rupp

He likes that they carry zero debt. They stick to what they do. The trouble is that earnings today are about the same as what they were 10 years ago. They are well known in their niches, but earnings revenues are relatively flat over a long period of time. The dividend has been rising over time, because they are increasing their dividend payment ratio, not because they are earning more money. Trading at about 25X earnings. For a company which is not growing its earnings in any significant way, is a struggle for him.


Price:
$29.640
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2017-09-07 PAST TOP PICK Must be logged in to use chart GS-N Goldman Sachs

(A Top Pick Aug 8/16. Up 34.44%.) This has something unique. While almost every other major global investment bank has reduced its trading exposure, this one hasn’t. Therefore, competition has fallen off dramatically. Margins in trading and related businesses, are expanding dramatically. The only major US global bank that has fewer shares outstanding than they did before the financial crisis. This is still a buy.


Price:
$215.840
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Yes
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1 Comment

izzyKap

April 25th 2014 at 11:25am

I viewed Lorne for the first time on BNN April 2014. My impression is that he is a thoughtful incisive professional with impressive brain power! I intend to keep track of his recommendations.


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