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
2016-11-24 TOP PICK Must be logged in to use chart 6118-JP Aida Engineering

This is huge in industrial automation. One of the global themes is robotics and automation. The Japanese are probably the global leaders in that area. The company has been around for over 60 years. One of these great Japanese companies where a good chunk of the market cap is simply cash and working capital. The dividend has doubled over the last 5 years. Still throwing off free cash flow. A compelling growth story. Dividend yield of 2.96%. (Analysts’ price target is ¥940.)


Price:
$0.000
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Yes
2016-11-24 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. Pipelines and telcos are low growth companies, but everybody has been buying them for the dividend in this low yield world. Suddenly, Donald Trump comes in and bond yields pick up. The Fed undoubtedly will raise rates at some point in time. These stocks are vulnerable because they are trading a pretty lofty PE levels. A lot of the Cdn$ is due to oil prices and what happens with that, but secondarily, rising US rates while Canada stands pat, implies continued strength in the US$, at least in the near term, which will be somewhat negative for commodity prices. A rising US$ is deflationary for America, and also impacts emerging markets. Thinks the Fed views that they have no choice but to start raising rates.


Price:
$0.020
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
_N/A
2016-11-24 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Canadian bond funds? If these are regular bond funds investing in high-quality bonds, there are 2 questions. 1.) Find out what your MER is, because with a 2.5% bond, there might not be too much left. 2.) What is the risk of rising bond yields. If this has a lot of longer-term bonds, they are going to get hit hard if yields start to move up in Canada.


Price:
$0.020
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Unknown
2016-11-24 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Gold? A stronger US$ usually means lower commodity prices. Also, rising interest rates means lower commodity prices, especially gold prices. The cost of producing an ounce of gold has risen dramatically over the last 20 years. He has never owned a gold stock in his life.


Price:
$0.020
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2016-11-24 COMMENT Must be logged in to use chart AA-N Alcoa

Split into 2 companies, Alcoa (AA-N) and Arconic (ARNC-N). He likes them both. Alcoa is a classic deep cyclical, where he bought it down 75%. Shares have rallied, but this is the commodity side. With all the shutdowns, aluminum demand is outstripping supply, so Alcoa has started to rally, with the new US rule requiring more aluminum content in cars. Arconic is a great value added area. These are cyclicals, so you buy them when they have no earnings, and sell them when they are selling at 6X earnings.


Price:
$31.510
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Unknown
2016-11-24 COMMENT Must be logged in to use chart AMZN-Q Amazon.com

They are reportedly in talks to buy a Dubai based online retailer SOUQ.COM for $1 billion. That would be peanuts for them. This is an amazing company that has grown from zero to revenues of over $100 billion. He has no idea how to value this company, and therefore he can’t buy it. They are generating all of their growth through their own free cash flow generation. An unbelievable operation, growing in the Cloud.


Price:
$780.120
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2016-11-24 COMMENT Must be logged in to use chart BCS-N Barclays Bank PLC

A lot of European banks are suffering between regulatory problems and the US. They never really repaired themselves post the financial crisis, unlike the US banks. He would tread carefully. On the whole, with 1 or 2 exceptions, he prefers US banks. They have gotten rid of all their regulatory issues a long time ago. (See Top Picks.)


Price:
$10.580
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Unknown
2016-11-24 COMMENT Must be logged in to use chart BMY-N Bristol Myers Squibb

This is doing well, but they had a cancer drug, Optiva which ran into some regulatory issues in the summer, causing the stock to fall. The company faces pipeline issues like everybody else. Shares are trading at 20X earnings. There are probably a couple of other places that have better value with more upside.


Price:
$56.750
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Unknown
2016-11-24 PAST TOP PICK Must be logged in to use chart CAM-LN Camellia PLC

(A Top Pick Jan 12/16. Up 1.32%.) A UK-based global agriculture company. 2nd largest tea producer in India, but the largest producer of high-end Darjeeling teas. Operations in Brazil and Australia, and a winery in South Africa. A very diverse company. Has no debt and is incredibly cheap. One of the longest track records in London of raising dividends every year for over 40 consecutive years.


Price:
$0.000
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Yes
2016-11-24 DON'T BUY Must be logged in to use chart CPG-T Crescent Point Energy Corp

Had been paying out way too much in distribution to shareholders. People bought it for the dividend, and then the company cut the distribution. At these prices, everybody in that sector is having trouble making money. This is not a low-cost producer. He would recommend that you look for stronger businesses.


Price:
$16.400
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Unknown
2016-11-24 TOP PICK Must be logged in to use chart CSCO-Q Cisco

With a $150 billion market cap, has $40 billion in net cash, and throwing off $11-$12 billion a year of free excess cash flow. Selling for 9 or 10 times free cash flow. Every year the dividend goes up by double digits, and with all that cash, this dividend will double in the next 6-7 years or so. They remain as #1 in the world in each of their businesses. To buy a company like this at 10 or 11 times earnings and free cash flow, it is truly being given away for a company of this quality. Dividend yield of 3.5%. (Analysts’ price target is $33.15.)


Price:
$29.710
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Yes
2016-11-24 DON'T BUY Must be logged in to use chart DEO-N Diageo PLC

Has an amazing collection of world-class brands. However, a low growth company with strong dividend yield and growth. Not trading at a cheap price/earnings ratio. Consumer stocks have had a great run because of their dividend, and they are vulnerable to rising rates. Dividend yield of just over 3%.


Price:
$100.690
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2016-11-24 COMMENT Must be logged in to use chart FFH-T Fairfax Financial

Prem Watsa is a brilliant investor. This is a dual class share company, and he is not crazy about that format. It is still basically an insurance-based operation. They have some great niche businesses. They make big investment bets. You have to ask if the dual class shares convert into all the same shares on Prem Watsa’s demise or retirement, or does it get handed down to family.


Price:
$621.000
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2016-11-24 HOLD Must be logged in to use chart GE-N General Electric

This is probably a better company today than it was in 1997 when they were getting into all kinds of financial engineering/financial companies, which were much riskier. A very solid company that will grow with the global economy. They are a free cash flow generator.


Price:
$31.340
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
No
2016-11-24 COMMENT Must be logged in to use chart GM-N General Motors Corporation

A better company today than it was 15 years ago, when they had all kinds of debt, etc. Donald Trump said he would discontinue NAFTA. If that happens, auto prices would shoot up, demand goes down, which would be very negative for the sector. Assuming he doesn’t do that, there is a big stimulus package going on that is bullish for wages and bullish for autos. The other factor is ride sharing. This company said they don’t expect ride sharing to have a big impact on auto sales, but of course, the verdict is still out. All these stocks look cheap today because PEs are so low. That is often a warning sign for investors. If this economy slows down, and Europe doesn’t pull itself back into growth pretty soon, the auto sector could be in for weaker earnings, and therefore the PE of 6 today might be a PE of 15 tomorrow.


Price:
$33.860
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Unknown
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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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