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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
2014-08-18 TOP PICK Must be logged in to use chart 6245-JP Hirano Tecseed

This is one of those Japanese gems that is actually trading for its cash. They have no debt. You are getting a profitable dividend paying company for free. They are in a great engineering machinery niche, coating laminating equipment. They are one of the best players in the world in this business. 3% dividend.


Price:
$0.000
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
Yes
2014-08-18 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Deep Value Investing. This means buying things when they are very, very cheap i.e. below intrinsic value, below transient Book Value or Breakup Value for sure. He is finding deep value in certain little niches. For example, in 1989 Japan was the hottest market in the world and the Nikkei index was 38,000. Today, even after a rally, it is at 15,000, so he is finding tremendous value in this area. A number of companies are trading at less than their cash. Some European stocks qualify because of difficulties in Europe. He is having trouble finding good, cheap stocks in the US. It is a tough hunting ground for a value investor. He is currently holding about 30% in cash. He never buys anything unless he knows what his exit strategy is.


Price:
$0.020
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
_N/A
2014-08-18 BUY on WEAKNESS Must be logged in to use chart AA-N Alcoa

Aluminium is a big auto industries play. The US auto standards are changing in 2016, and auto demand for aluminium is going to really jump, about 25%. This company has done pretty well, even with weak aluminium prices. He would wait for a bit of a pullback before stepping in.


Price:
$16.320
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
Yes
2014-08-18 PAST TOP PICK Must be logged in to use chart AEG-N Aegon N.V.

(A Top Pick July 2/13. Up 17.36%.) Selling for 35% discount to tangible book value. Dividend increases are underway. They will be a beneficiary of European recovery. Offers significant upside and his target is at about $14 per share.


Price:
$7.810
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
Yes
2014-08-18 DON'T BUY Must be logged in to use chart AIG-N American International Group

Not a huge fan of this at the current price. Has had a reasonable run. Not cheap and they are still dealing with some of the overhang of the issues they experienced during the financial crisis. There are better places to be.


Price:
$54.480
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
Unknown
2014-08-18 SELL Must be logged in to use chart AKS-N AK Steel Holding

This is a highly leveraged steel company, and the steel business has been pretty bad. (He owns their bonds.) With a highly leveraged commodity player like this, he would suggest that you take your profit and run.


Price:
$10.360
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
Yes
2014-08-18 COMMENT Must be logged in to use chart BP-N BP PLC

Probably the cheapest of the major integrated oil/gas companies. The negative is that a good chunk of their oil production is in Russia, so it deserves to trade at some discount. They are almost finished paying off the issues with their well disaster. Heading into a period where free cash flow will be increasing. Significant dividend increases are in the cards, along with significant share buybacks. Feels it is worth about a 3rd higher than what it is trading at, so to him it is value. Dividend of almost 5%.


Price:
$47.900
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
Yes
2014-08-18 COMMENT Must be logged in to use chart C-N CitiGroup

Has been cautiously reviewing this. Cheap on a price-to-book value basis. Have had a number of problems over the past number of years, but have stabilized. They were cited by the Federal Reserve as being deficient in a number of areas which is an example of poor risk control. This causes him to question the management team and what they have been doing.


Price:
$49.510
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
No
2014-08-18 COMMENT Must be logged in to use chart DB-N Deutsche Bank AG

He is looking seriously at this one. Issued a right’s issue, which bolstered the capital. Like everybody else they paid billions of dollars in fines to the US government and their agencies. They appear to be finally well-capitalized again. Trading at around a 52-week low. 2.9% dividend yield.


Price:
$33.010
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
No
2014-08-18 DON'T BUY Must be logged in to use chart DII.B-T Dorel Industries

This is a Dual Class share structure, and he warns people to be careful of that. Not one he is interested in. 


Price:
$35.350
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
No
2014-08-18 HOLD Must be logged in to use chart ECA-T Encana Corp

This is one of Canada’s great natural gas companies. Have made a number of acquisitions, several of them being very smart over the last number of years. However, they are clearly suffering from low natural gas prices, and the industry will continue to struggle with that. Production is being shut in over time by some of the majors including this company, so declining capacity and some increasing usage, as US utilities reduce their coal consumption, probably argues well long-term for natural gas.


Price:
$23.160
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
Unknown
2014-08-18 COMMENT Must be logged in to use chart FAP-T Aberdeen Asia-Pacific PRM Inc.

It always worries him when he sees a closed-end fund like this. This is a global bond fund, so you have currency exposure to different currencies, mostly Asia and other emerging markets. What concerns him is that the fund is allowed to use leverage and does so. He really wonders how many investors really understand this. They provide a steady income to investors, but part of that is return of capital, not just income. You have to understand that you are buying a levered fund, and the leverage is reasonably substantial. A rising interest rate would squeeze you. It’s trading at around NAV, but paying out more than the income, so part of the return is return of capital.


Price:
$5.730
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
Unknown
2014-08-18 BUY on WEAKNESS Must be logged in to use chart GE-N General Electric

General Electric (GE-N) or United Technologies (UTX-N)? This is an extremely well-run company. Even though the stock has performed poorly over the last many years, the new management has really transformed this company making it a more broadly diversified company and less reliant on financial services. He would love to see this pullback because he feels it is a really well-run, well diversified business, with huge free cash flow growth potential and with a healthy dividend. This would be his preference. Wait for a better entry point.


Price:
$26.070
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
Unknown
2014-08-18 COMMENT Must be logged in to use chart HSBC-N HSBC Holdings P L C

These all struggled during the financial crisis. This has struggled probably less than the European and foreign banks. This bank has a great position in Asia. Despite Asia’s issues at the present time for the growth rate is slowing, it is extremely well-positioned for the long haul. His entry point for the stock would be in the low $40’s. He is seeing better value in European financials and European banks.


Price:
$53.940
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
No
2014-08-18 BUY Must be logged in to use chart ING-N ING Groep NV

Total debt to total capital is about 80%, but because this is a bank, you can’t look at debt to capital. Debt to them means investors deposits and things like that. This company has not paid a dividend since the financial crisis, and they can’t until they pay back the Dutch government the €1 billion that they borrowed. They will finish this in 2015 and will then return to a healthy dividend paying company. He is anticipating a dividend yield of around 4% and generating earnings at $1.20-$1.40 next year and higher by 10% a year in the next 2 years going forward.


Price:
$13.480
Subject:
DIVIDEND STOCKS
Bias:
CAUTIOUS
Owned:
Yes
Showing 1 to 15 of 332 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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