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

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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

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
2015-06-02 TOP PICK Must be logged in to use chart 4914-JP Takasago International

This is an international company. They are a flavours and fragrances company and sell to food, beverage and cosmetic businesses, which is a big growth area. Not a lot of competition. He is looking for earnings to probably double in the next 4 years. Buying a company at less than tangible BV at way less than breakup value today with earnings growth, you can’t find anywhere else. Yield of 4.25%.


Price:
$0.010
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
2015-06-02 PAST TOP PICK Must be logged in to use chart 5975 Tokyo Topre Corporation

(A Top Pick April 23/14. Up 108.71%.) One of those Japanese companies that manufacture specialty electrical components. Growing their business internationally. It has become a double-digit earnings grower. Much cheaper today on a PE basis  than it was a year ago.


Price:
$0.000
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
2015-06-02 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Asset allocation. This is probably a timely moment for asset allocation. Most investors focus on stock selection and look at the upside of a stock, but in reality, asset allocation plays every bit as big a role if you look at long-term returns. As we head into a period where low interest rates are coming to an end and rates are going to rise in the near future, this is an incredibly important time to review asset allocation and probably make some changes. Asset allocation is not something that should be static, but is something that investors should pay attention and focus on. He is still finding his most value opportunities in Japan and Europe, outside of North America. The US has undergone such an amazing bull market that valuations are getting stretched. They are being supported by ongoing low interest rates.


Price:
$0.020
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
_N/A
2015-06-02 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Would you play India and/or China? Everyone wants to play these 2 countries because they represent better growth than you get from the rest of the world. However, both of them suffer from extremely poor corporate governance, not friendly to investors. Japan is the largest exporter to China, so that is a way to take advantage of growth in China. The Indian economy is still developing in many ways, and some of the companies are controlled by the 60 wealthiest families in India. A sideways entry into India would be through Sun Life (SLF-T) which is the largest insurer in India through a joint venture.


Price:
$0.020
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Unknown
2015-06-02 TOP PICK Must be logged in to use chart AA-N Alcoa

This has been over $30 five times in the last 15 years. It is a cyclical company, so you have to rent it, not own it. They are in a sweet spot right now. Have made a bunch of acquisitions and have gotten more into the value added part of the aluminum business. Aluminum prices are historically low, but this is still throwing off free cash flow. Earnings are at about $1 a share and US auto demand is going to rise 25% over the next couple of years, simply because of emission standards. Dividend yield of 0.95%.


Price:
$12.620
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
2015-06-02 COMMENT Must be logged in to use chart AEG-N Aegon N.V.

One of the cheapest major insurance companies anywhere with huge upside. Most countries have a tax treaty with Canada, which reduces the withholding tax, so this is one of the things you face owning a foreign company.


Price:
$7.660
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
2015-06-02 HOLD Must be logged in to use chart BAC-N Bank of America

Post the financial crisis, all the big US banks have recovered for the most part, and this one is no exception. The biggest issue that the banks are going to face in the next 2-3 years is dealing with the slow growth economy. Rising interest rates will help their net interest margins. He sees the housing market probably slowing down because of rising rates. It’s tough for a bank like this to grow in their regulatory environment.


Price:
$16.720
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2015-06-02 HOLD Must be logged in to use chart BNS-T Bank of Nova Scotia

The whole Canadian banking sector, on a price/earnings ratio, is not expensive. They all offer solid dividends. The Canadian economy is suffering somewhat and he thinks it will continue to suffer over the next couple of years. This is partly due to commodities and partly due to housing. Rising rates are going to hit Canada as some point in time. Bank earnings are going to be down possibly 10% over the next couple of years.


Price:
$66.170
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Unknown
2015-06-02 COMMENT Must be logged in to use chart CNR-T Canadian National R.R.

An incredibly well run railway. Have been delivering double-digit earnings growth in what has historically been a cyclical industry. It probably deserves its high valuation. Too expensive for him.


Price:
$73.550
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2015-06-02 PAST TOP PICK Must be logged in to use chart CSCO-Q Cisco

(A Top Pick April 23/14. Up 27.45%.) This has done well. It used to be a growth stock but is now a value stock. Has $30 billion in net cash. Still has the opportunity to grow its earnings in the high single digits. Consistent strong dividend growth. $7 billion a year in free cash flow. Good share buybacks. A lower risk, cheap stock.


Price:
$29.080
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
2015-06-02 COMMENT Must be logged in to use chart DEO-N Diageo PLC

Diageo (DEO-N) or Unilever (UL-N) foreign income focused investor? Neither of these is cheap today. You are paying a high price for very stable earnings. The difference between the 2 companies is that this one has been basically a no growth story in terms of earnings and revenues. Unilever is well positioned globally, especially in emerging markets. Because of this, it will give you earnings growth along with better dividend growth. If he had to pick one or the other, it would definitely be Unilever.


Price:
$109.740
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2015-06-02 DON'T BUY Must be logged in to use chart ENB-T Enbridge

Preferred Series E. This is a rate-reset preferred. In Canada rates have been cut, so the sense is that the company that has issued these preferreds are not going to take you out in 5 years, and will leave you there with a possible lower dividend yield. Wouldn’t dump this while Canada is in kind of a rate dumping mode. At some point in time the cycle will turn and you will have an opportunity.


Price:
$20.560
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2015-06-02 COMMENT Must be logged in to use chart FB-Q Facebook

Not a deep value stock, but he has to admire companies that have been able to deliver great growth, evolve their business model in a very short period of time and be able to figure out what advertisers and consumers are looking for and monetize that.


Price:
$80.445
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2015-06-02 SELL Must be logged in to use chart HBC-T Hudson Bay Co.

This is a company that is always going through some interesting transitions. The Canadian retail sector is going through some very tough times, as our economy is somewhat sluggish. That is the largest driver for this company. He doesn’t see a lot of upside in the near future and it might be a time to say goodbye.


Price:
$24.690
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2015-06-02 COMMENT Must be logged in to use chart ING-N ING Groep NV

They finally repaid their last piece to the Dutch government and have started dividends for the 1st time in about 5-6 years. The dividend has lots of room to grow. He sees their earnings growth heading upwards to the double digit range for the next few years. He is still buying for new clients.


Price:
$16.550
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
Showing 1 to 15 of 412 entries
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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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