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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
2014-11-04 TOP PICK Must be logged in to use chart 6930-JP Nippon Antenna

This profitable specialty company that makes antennas, is not just trading at around 10X earnings with a 3.2% dividend yield, but is truly trading for less than its net cash. If they shut it down today and just distributed the cash and gave the company a way, you would still have a profit.


Price:
$0.000
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
Yes
2014-11-04 PAST TOP PICK Must be logged in to use chart 6986-JP Futaba Corp

(A Top Pick Oct 7/13. Up 38.45%.) Component manufacturer. This is one of those great Japanese value investments, and is still cheap. Trading for less than its full working capital. He can see 20% earnings growth a year for the next couple of years.


Price:
$0.010
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
Yes
2014-11-04 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. Currently he is having trouble finding Deep Value Stocks. He needs to Buy companies that are trading at less than their intrinsic value, where there is a large margin of safety. Companies that are strong financially and generate free cash flow, but are trading at valuations that offer a lot of upside, with hopefully minimal downside. After several years of a Bull market and an economy that is not doing very well, it is becoming difficult to find these companies. Globally stocks have been propped up by central banks’ stimulus. Low interest rates are fuelling a good part of the rally over the last 18 months. Investors are chasing yield, and many of them are buying stocks for dividends as if they are bonds that can never be cut or go down. That is always a bit worrisome. Previously had been able to find value in Europe and in Asia, but even that is getting a little tougher.


Price:
$0.020
Subject:
DEEP VALUE INVESTING
Bias:
CAUTIOUS
Owned:
_N/A
2014-11-04 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Update on your Value Japanese investments? Japan remains the cheapest market in the developed world, even in emerging markets. He has always liked that Japanese companies have very low debt levels, often zero debt. Fantastic corporate governance. CEOs are not motivated by stock options, but are motivated to build a better company to hand off to the next CEO. They have so many great engineering companies that are best in the world of what they do that no one has ever heard of before, because they are not consumer product companies.


Price:
$0.020
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
_N/A
2014-11-04 COMMENT Must be logged in to use chart AEG-N Aegon N.V.

Considers this as a deep value investment, and it has done well. An insurance company with significant assets in the US as well. They suffered a little because of the Dutch housing market which has not recovered yet. However, the worst is over for them and is selling at a discount to BV. Very good upside to this. 3.6% dividend yield.


Price:
$8.080
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
Yes
2014-11-04 HOLD Must be logged in to use chart AFL-N Aflac Inc

An American insurance company, whose major business has been in Japan for decades. Incredibly well-run. It amazes him that a US company has been able to succeed in a different culture for so long. A weaker yen hurts this company, but doesn't think this will have a huge impact on the stock price. Not a cheap stock and they could be running into some short-term earnings issues, which could cause earnings to decline, probably due to currency.


Price:
$59.480
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
No
2014-11-04 BUY on WEAKNESS Must be logged in to use chart BNS-T Bank of Nova Scotia

Cutting 1500 jobs. That always disturbs him when he sees a very profitable company chopping jobs, possibly for shorter-term reasons. This is a great franchise like all Canadian banks, plus they have their operations in Latin America and the Caribbean. They seem to have run into some issues in some of those places. Canadian banking sector is the most expensive globally on a price to book valuation. Dividend is rock solid. In a strong financial condition. He wouldn't look at this unless there was a pullback.


Price:
$67.190
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
No
2014-11-04 COMMENT Must be logged in to use chart BTU-N Peabody Energy Corp

A coal company that stands out for quality of the balance sheet. They also have operations in Australia. Somewhat diversified by having some oil/gas assets. Very strong balance sheet and will be a survivor. Hasn't bought this yet as he doesn't have the confidence that things are poised to turn in the next year or so. If you were going to buy coal it would be this one.


Price:
$10.290
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
No
2014-11-04 PAST TOP PICK Must be logged in to use chart CAM-LN Camellia PLC

(A Top Pick Oct 7/13. Up 3.09%.) Second largest producer of tea in India, major producer of tea in Malawi and Bangladesh, citrus in California, farmland in Brazil, winery in South Africa and a private bank in the UK with some engineering companies. Very diversified. An amazing operation. Zero debt. One of those longest track records of rising dividends in the London market. Thinks it is trading at 50% of its actual intrinsic value, with properties that are just phenomenal assets. Hard to buy, but a really cheap stock. A Buying opportunity.


Price:
$0.000
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
Yes
2014-11-04 BUY Must be logged in to use chart CSCO-Q Cisco

This is not the 15% earnings grower that it was. It is more of a 6%-8% earnings grower. However, they have $30 billion net of all debt which they are aggressively using to buy back shares and raise their healthy dividend of around 3%. They remain #1 in the world in their major industry sectors, which are growth sectors. He is looking for earnings to grow in a 6%-8% range in the next couple of years. If you want a conservative name, trading at a pretty low multiple, with a pristine balance sheet and growth, this is a good bet.


Price:
$24.880
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
Yes
2014-11-04 COMMENT Must be logged in to use chart DB-N Deutsche Bank AG

Like a lot of European banks, with the new capital requirements they had to do a very significant rights issue and had to raise a lot of capital. That is dilutive to shareholders. However it doesn't look expensive and he continues to look at this. They're going to suffer a little bit with the slowing European economies, but he could be talking about this on one of these shows someday.


Price:
$30.830
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
No
2014-11-04 COMMENT Must be logged in to use chart DEO-N Diageo PLC

An expensive stock for a company with almost zero earnings growth and flat lining revenues at best. Have phenomenal brands in a very mature industry. They have been a great and smart acquirer of brands, but at 19X earnings with almost no growth, it is hard to find value here. The dividend is secure and there is room for dividend increases.


Price:
$115.690
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
No
2014-11-04 BUY Must be logged in to use chart GE-N General Electric

A better company today than it was in 2000, with less risk attached to it. Management has done a fantastic job. Dividend is secure. This is one that he looks at, but it never seems to be cheap enough. Not expensive.


Price:
$25.700
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
No
2014-11-04 COMMENT Must be logged in to use chart GOOG-Q Google

They are doing an amazing job and growing revenues and earnings. They are brilliant individuals. He can’t buy it today because it is too expensive.


Price:
$554.110
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
No
2014-11-04 TOP PICK Must be logged in to use chart HPQ-N Hewlett-Packard Co

Trading at less than 10X earnings. No net debt if you don't count the financing debt they use to finance equipment. Huge free cash flow generation. Company has returned to earnings growth. Thinks revenue growth will start next year. It will become a growth story again, to some degree, trading at an incredibly cheap valuation, probably $4 a share in the next couple of years. Recently announced they are going to split into 2 pieces, probably in 2015. Thinks this is a $50 stock. Yield of 1.78%.


Price:
$35.900
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
Yes
Showing 1 to 15 of 358 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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