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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
2016-01-12 PAST TOP PICK Must be logged in to use chart 6930-JP Nippon Antenna

(A Top Pick Nov 4/14. Down 11.44%.) A leader in antennas. Has no debt and pays a 3.7% dividend. The market cap is less than the net cash after subtracting all liabilities.


Price:
$0.000
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
2016-01-12 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. Investors tend to have very short memories. Oil in 1998 actually fell to $11 a barrel. No one can make accurate short-term predictions. There is no question that when momentum is moving in a certain direction, global economy is struggling, and usually in those situations, OPEC and other oil producers would be cutting back production. This time all those countries are so desperate for cash, because they are running huge deficits, they are still pumping full out. With Iran coming fully back on stream, that is just going to add to supply in the near term. It is going to take a fair bit of time. Supply is going to be constrained at some time, but it will take a while. When prices are high, you have to hold some cash and wait. Patience is always going to be the winner over time. Also, avoid value traps i.e., buying highly indebted companies.

Doesn’t think the Cdn$ will fall a lot more, and if it does it will be for a very brief period of time.


Price:
$0.020
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
_N/A
2016-01-12 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Canadian or US lifecos? Prefers the Canadian insurance companies Sun Life (SLF-T) and Manulife (MFC-T) because they have great franchises here, and also phenomenal growth globally. They give you a lot for a pretty low valuation. The US lifecos tend to be much more local.


Price:
$0.020
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Unknown
2016-01-12 COMMENT Must be logged in to use chart AA-N Alcoa

In the process of splitting into 2 different companies. Commodity will be one and “value added” the other. US auto demand, in terms of aluminum, will be rising sharply over the next couple of years because of new emission standards. Every time they increase emission standards, cars incorporate more aluminum. Increasing Chinese supply has been putting pressure on aluminum pricing. Supply demand is slowly coming back into a better picture, and he thinks over time this is worth double the current share price.


Price:
$7.280
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
2016-01-12 COMMENT Must be logged in to use chart AAPL-Q Apple

Has tremendous respect for the company and the brand. The stock has sold off a little bit. If you X out the massive cash position, it is absolutely not an expensive stock. Half their profits are the iPhones, and iPhone sales year-over-year are tougher and tougher to grow. He struggles with this.


Price:
$99.960
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2016-01-12 DON'T BUY Must be logged in to use chart BAC-N Bank of America

A huge retail bank, and also very much a capital markets bank. They will get some benefits from rising rates. The capital markets business, for him, is a kind of questionable business so he is avoiding that sector at the present time. They have international exposure, and the strong US$ is going to hurt them to some degree. He wouldn’t be initiating a position today.


Price:
$15.310
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2016-01-12 COMMENT Must be logged in to use chart BNS-T Bank of Nova Scotia

Canadian Banks are a pretty safe place to be. Has avoided the sector over the last couple of years, but with the current economy there might be a better buying opportunity. This has underperformed most of the other banks because of significant operations in Latin America and Caribbean, which is under pressure. The dividend is more than secure. Also the Canadian banking sector is not very exposed to the energy sector in a significant way. For the 1st time in a while, he is interested. He wouldn’t own one, but would probably own 3 including Royal (RY-T), Toronto Dominion (TD-T) and Bank of Nova Scotia (BNS-T).


Price:
$54.050
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2016-01-12 TOP PICK Must be logged in to use chart CAM-LN Camellia PLC

A London-based company and the 2nd largest producer of tea in India, largest producer in Malawi and Bangladesh, but only the high quality teas in Darjeeling that command premium prices. They do everything from citrus and nuts in California, farmland in Brazil, a private bank in the UK. Have no debt and have a healthy cash position. This company is selling at such a wild discount to intrinsic value. Have had one of the top 5 longest track records in the UK of raising their dividend every year, for over 40 consecutive years. Dividend yield of 1.5%.


Price:
$0.000
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
2016-01-12 COMMENT Must be logged in to use chart CCO-T Cameco Corporation

They have a potential tax liability with revenue Canada, which could be as high as $800 million, so that is a bit of an overhang. Up until the Japan nuclear disaster, it looked like uranium prices were going to go up. He is just not a full believer.


Price:
$16.300
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2016-01-12 COMMENT Must be logged in to use chart DB-N Deutsche Bank AG

Just added this to his portfolio. Just eliminated their dividend. With the Basil 3 Accord coming up, every bank, mostly European, are worried about their capital ratios. This one is selling for half its tangible Book Value and is very cheap. The issue is, do they have any more fines to pay.


Price:
$22.930
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
2016-01-12 DON'T BUY Must be logged in to use chart GE-N General Electric

A phenomenal company and very well-managed. However, from an earnings basis, this is not a cheap stock. Selling at roughly 20X earnings, and there are so many companies that are selling for much cheaper valuations and offering better upside. Not attractive at this price.


Price:
$28.640
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Unknown
2016-01-12 COMMENT Must be logged in to use chart GIB.A-T CGI Group (A)

A Montréal-based company and have done an amazing job. A dual class share company, and he doesn’t buy dual class share companies, but has to give them a lot of credit. Have done an outstanding job growing by acquisition, generating free cash flow and revenue growth. Not a cheap company but a really well run business.


Price:
$54.950
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2016-01-12 PAST TOP PICK Must be logged in to use chart HPQ-N Hewlett-Packard Co

(A Top Pick Nov 4/14. Down 31.52%.) When he bought this, it was a single company, but now it is 2 companies. The other one is Hewlett-Packard Enterprises (HPE-N). Hasn’t yet seen a quarterly report, but will get one in February. Doesn’t think the market is fully appreciating either one of these companies. This one is selling for about 7X earnings. He remains very, very bullish.


Price:
$10.820
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
2016-01-12 HOLD Must be logged in to use chart HSBC-N HSBC Holdings P L C

A massive global bank. The dividend is secure. It is suffering in part because of the emerging markets, notably Asia. That is not going to go away anytime soon. This is a survivor.


Price:
$36.610
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
No
2016-01-12 TOP PICK Must be logged in to use chart MS-N Morgan Stanley

Before the financial crisis, this was like a Goldman Sachs type firm. After the financial crisis, they were a wealth management firm that does some capital market business. Have de-levered the balance sheet from 30X leverage to 10 or 11 times. Earnings growth is really poised to move up sharply. He is looking for 20%-25% earnings growth in the next 2-3 years. Selling for less than tangible book value. A very stable earnings stream.


Price:
$28.460
Subject:
Deep Value Global Equities
Bias:
UNKNOWN
Owned:
Yes
Showing 1 to 15 of 460 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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