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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 Symbol Company Opinion Price
2013-04-30 TOP PICK 5013-JP Yushiro Chemical

This is a niche Japanese engineering company. They specialize in chemicals and fluids for metalworking. Things we never think about that are intermediate parts of the manufacturing process. Trading at a steep discount to tangible book value. With the decline in the Japanese yen, this company’s earnings are already starting to rise in a huge way and there could be a doubling of earnings in the next 3 years.

 Price:
$0.000
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
Yes
2013-04-30 PAST TOP PICK 6245-JP Hirano Tecseed

(A Top Pick Sept 11/12. Up 127.4%.) A little niche player in the coatings and laminating business. It was trading so far below intrinsic value and below its net working capital, so you were buying the entire business for free. Still trading for about 70% of tangible BV so there is still huge upside, at least another 50%-75% as earnings are still growing at 25%-30%.

 Price:
$0.000
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
Yes
2013-04-30 N/A A Commentary A Comment -- General Comments From an Expert

Markets. Europe. Worst is definitely over for the financial services sector, which has taken a beating over the last few years. Most companies have recapitalized themselves but they are not yet getting credit for that from the markets. Earnings have started to rebound. Insurance sector is a big sector and the banking sector has valuations way below where they are in North America. All the bad loans are slowly working their way out of the books. Every new loan over the last couple of years has been excellent with high margins, low risks. Loan books have become very, very strong. Earnings are poised to rise even though the economy is still flat lining in a slight recession. Japan. There is still massive value here. Market is up but it is still a fraction of the valuation you will find anywhere else in the developed world as well as emerging markets. Canada. Still sees this as a market that could very well possibly continue to flat line or slight decline. Still somewhat negative on metals and mining. Doesn’t see much upside in the oil/gas sector. With home prices poised to soften here, he is somewhat negative on Cdn banks.

 Price:
$0.020
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
_N/A
2013-04-30 TOP PICK AA-N Alcoa

One of the world’s low cost aluminum producers. Aluminum is a growth metal because it is light, therefore every new generation of automobiles and planes that are trying to get more fuel efficient end up using more aluminum. The US is going to go through a change with more efficient automobile legislation so there will be a big increase in demand. You have to buy this one when it is not making money and sell it when it looks cheap because it is selling at a low PE. It may take a couple of years.

 Price:
$8.500
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
Yes
2013-04-30 DON'T BUY AAPL-Q Apple

Raised $17 billion in a bond issue which he thinks is absolutely insane. For a company with $100 billion plus in cash to respond to a hedge funder to do a massive share buyback, raise the dividend and borrow money makes absolutely no sense. It always worries him when companies try to raise shareholder value by doing a massive share buyback. Great company but they need to come out with a new product. Losing traction on the phone side to Samsung.

 Price:
$442.780
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
No
2013-04-30 DON'T BUY ABX-T Barrick Gold

He owns no gold stocks. With the decline of the gold stocks recently, his company has done a study on gold companies. With the price of gold so high, why are these stocks doing so poorly? Cost of production has probably doubled in the last 4-5 years, not for temporary reasons, but for long-term reasons.

 Price:
$19.860
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
No
2013-04-30 HOLD AGU-T Agrium

Fertilizer is a long-term growth business but farmers don’t have to buy it every year. If corn and grain prices are high, they’ll buy more fertilizer and get the value out of it. If those prices are low, they live with less fertilizer. He is looking at this one.

 Price:
$92.350
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
No
2013-04-30 DON'T BUY ATD.B-T Alimentation Couche-Tard (B)

An amazing company. In a horrible business and you wonder how anybody makes money in that business. This is the largest in North America and they just made an acquisition in Norway and they seem to continue to deliver increased earnings per share. Valuation has gotten stretched even for the earnings growth they are delivering.

 Price:
$61.210
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
No
2013-04-30 DON'T BUY BBD.B-T Bombardier Inc (B)

After collapsing after the last decade from the $20 level or so it has been bouncing around between $2.50 and $5. This has been a very low margin business and is very capital intensive. There is no real free cash flow generation here. Debt continues to increase. Involved in a potentially very expensive program with the C series airplane.

 Price:
$4.000
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
No
2013-04-30 DON'T BUY BBY-N Best Buy Company Inc

Doesn’t like the business model. The reality is that one of Amazon’s fastest-growing areas is consumer electronics. They can sell these same goods cheaper and make more money than the box stores can.

 Price:
$25.990
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
No
2013-04-30 DON'T BUY BCE-T BCE Inc.

Growth in this company has been coming from the wireless side for the last few years. Canadian regulators have made it pretty darn clear they want to see Canada’s very, very high wireless prices come down. That is not bullish for the whole sector. This company has been incredibly well managed. Have been raising their dividend regularly and is basically back to being a yield story but he doesn’t see any upside from here.

 Price:
$47.190
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
No
2013-04-30 COMMENT BPF.UN-T Boston Pizza Royalties

Have done a fantastic job of growing same-store sales in the 2%-3% range, which is pretty good in a somewhat tough economy. This is kind of a hangover from the income trust era. Pays on virtually all of its earnings to shareholders and holds nothing back. His concern is that when interest rates start to rise, it’s a dividend stock, and that could cause it to drop a little bit. Also, if they need to invest more capital, that might imply a cut to the dividend at some point, but certainly not on the horizon. Doesn’t see a lot of upside from here.

 Price:
$23.550
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
No
2013-04-30 DON'T BUY CHR.B-T Chorus Aviation Inc

On a price-to-earnings basis, this company looks cheap but at the end of the day, this is an airline. It will continue to be and always will be extremely cyclical. Plus this company is very, very tied to Air Canada and what kind of business Air Canada wants to give it.

 Price:
$3.860
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
Unknown
2013-04-30 DON'T BUY CLS-T Celestica Inc

Do manufacturing and design work for large electronics companies. Doesn’t like the industry. Historically has been an extremely low margin business. It requires a fair bit of cash. Very price competitive. Doesn’t see any real great growth prospects.

 Price:
$8.700
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
No
2013-04-30 BUY CSCO-Q Cisco

Has about $35 billion of cash, net of all debt, so there is zero risk to dividends. They generate probably in excess of $5 billion per year of cash. Buying back shares. Still growing their top line at 6%-7% range and growing their earnings at 10% plus. Phenomenal long-term value.

 Price:
$20.920
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
Yes
Showing 1 to 15 of 195 entries
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