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Compiling comments that experts make about stocks while on public TV.

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Mohsin Bashir , Associate Portfolio Manager

Highwater Capital Management

Address
501 Rowntree Dairy Road, Suite 5
Woodbridge, ON
L4L 8H1

Contact Info
Telephone: 905.265.0649
Fax: 905.265.0646
Email:
Website: http://www.highwatercapital.com/


Date Signal Chart Symbol Company Opinion Price
2014-02-19 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. Most of the lower hanging fruit has been sort of picked off and a lot of that happened at a much faster rate than expected over the course of 2013. The consumer durables, those companies that are tied to the housing market, got a good lift because of the low interest-rate environment as well as the uptick. Now we are probably going to see a little bit more of a movement down towards the mid-cycle companies such as industrials, technology, and to some degree, energy companies because we are starting to see a little bit of that rotation happen and a movement of CapX which was sort of locked up last year. Thinks we have a couple of years to go. Putting it into context, since 2008, $400 billion has escaped the stock market and the great depression was an unprecedented amount of central bank intervention, basically a true test of modern gains in economics. That stretched out the business cycle. Here we are, 6 years after 2008, and a normal business cycle which lasts roughly 5 to 7 years and we still have room to grow and expand in this economic recovery beyond another 12 months. There will be choppiness this year and will probably be the reason you are not going to have the same stellar 30% performance as we did in 2013. However, this choppiness creates a stock picker’s opportunity by being able to choose those companies that are fundamentally sound, but trading at irrational valuations.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
_N/A
2014-02-19 COMMENT Must be logged in to use chart ACQ-T AutoCanada Inc.

One of the largest public auto consolidators in Canada. There are a large number of individual franchisees that are getting on in years and want to monetize assets. There is still a very long runway for growth here. Recently announced their 12th consecutive quarterly dividend increase.


Price:
$43.450
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2014-02-19 WATCH Must be logged in to use chart ACT-N Actavis, Inc.

Acquisition of Forest Labs is definitely a positive for them. Have excellent prospects in their R&D groundbreaking drugs. On a PE basis, the multiple is always insane, however the key thing to look for is the PEG ratio. When this is under 1 that is an opportunity to purchase.


Price:
$210.560
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2014-02-19 COMMENT Must be logged in to use chart AIG-N American International Group

A very large US insurer. Doesn’t own this as there are so many line items associated with US insurers that it gives him a little bit of apprehension and keeps him sticking close to home with Canadian financials. However, this has shown dramatic improvement. Operational EPS was $4.57 for 2013, which was the best ever since the financial crisis. Also, the multiple has expanded quite substantially. It was trading at 0.5X Book at the beginning of 2013 and is now 0.7X. The issue now is, can they keep that momentum. Growth rate of property/casualty underwriting is slowing and looking at the most recent amount of share buybacks that they have executed, it is not as much as the Street was expecting. If you own, he would look to trim off a little bit in the low to mid $50’s.


Price:
$49.250
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2014-02-19 COMMENT Must be logged in to use chart BAC-N Bank of America

With the US housing recovery taking place, this is one of the biggest providers of mortgages. Definitely room for growth here. There would probably be a share buyback before there was a reinstatement of the dividend.


Price:
$16.200
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2014-02-19 BUY on WEAKNESS Must be logged in to use chart BTE-T Baytex Energy Corp

Just announced they are acquiring Aurora oil/gas assets for $2.6 billion. Historically investors have always liked this one for their heavy oil. This acquisition is a long-term benefit for the company in order to insulate and increase their dividend.


Price:
$40.880
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2014-02-19 BUY Must be logged in to use chart CGX-T Cineplex Inc

The only problem with this company is their ability to drive growth and rationalize the multiple it trades at. An excellent source of income for a lot of portfolios. The recent drop is more of a temporal operational miss and an opportunity to pick up a stellar premium income generating company at a better price. Normally this trades well above 20X earnings.


Price:
$40.030
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2014-02-19 BUY on WEAKNESS Must be logged in to use chart COP-N ConocoPhillips

Even though the most recent quarter had several one-time items that allowed it to meet expectations, overall there is a pretty good line of sight for production growth, particularly with regards to its projects in Poland, Malaysia and on the Canadian side. These production increases outsource to lower risk OECD countries. Trading at about 5X cash flow and 11X earnings. Around $60 would be a great support level to pick it up.


Price:
$65.000
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2014-02-19 PAST TOP PICK Must be logged in to use chart CPG-T Crescent Point Energy Corp

(A Top Pick June 20/13. Up 14.1%.) Liked that it was a former trust paying a high amount of dividend income. Also, its focus on light oil was an area of interest. Believes the dividend is sustainable, growth prospects are strong and their assets are strong sources of growth for their target of 150,000 barrels per day.


Price:
$38.680
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2014-02-19 COMMENT Must be logged in to use chart CUS-T Canexus Corp

Still believes in this. At these levels, it is very attractive. You’ll hear a lot of back-and-forth from various analysts about whether the dividend is safe or not. The key to look for is, does the path of cash flow support the dividend payout. Current payout ratio and debt ratio is going to be stretched but will be reversed as you start seeing significant free cash flow generated from its North American Terminal Operations (NATO), which will be using a large part of their infrastructure for the oil by rail story. They will be wrapping this up quite significantly and are currently 65% presold.


Price:
$5.820
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2014-02-19 BUY on WEAKNESS Must be logged in to use chart DEO-N Diageo PLC

A very strong generator of cash flow and, as a result, it gets a premier multiple associated with it. This is one that you would definitely buy on the dips and you would buy it for the ability to keep growing free cash flow in lockstep or excess of the cost of inflation.


Price:
$126.420
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2014-02-19 BUY on WEAKNESS Must be logged in to use chart DH-T Davis and Henderson

A Canadian growth company with a growth catalyst to US exposure. Recently purchased the 5th largest US financial network company. He loves the financial technology space as an area of investment but his preferences are towards others. If your goal is to be able to generate income, this company does that better than others. Trading close to its 52-week high and he would like it closer to $25.


Price:
$28.860
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2014-02-19 DON'T BUY Must be logged in to use chart DI.UN-T Dundee International REIT

Compared to its peers, it has more risks associated with it. Largely due in part to its AFFO payout ratio which is in excess of 100%. The payout ratio doesn’t appear to be sustainable. Also, as compared to its peers, it is difficult to see a competitive advantage.


Price:
$8.970
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2014-02-19 PAST TOP PICK Must be logged in to use chart IFF-N International Flavors & Fragrances

(A Top Pick June 20/13. Up 23.07%.) A key supplier to a lot of very well known names such as Procter & Gamble, Estée Lauder, Colgate, etc. Whether it is a smell or whether it is a spice, this company is responsible of over 80% of that market share. Consistently generates 7%-10% free cash flow growth every year.


Price:
$91.510
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2014-02-19 COMMENT Must be logged in to use chart JE-T Just Energy Group

Analysts like this and are moving it up to an Outperform recommendation and it has traded past through some of their targets. He just can’t wrap his head around the business model of going door-to-door and asking residents to lock in their natural gas prices. Have improved their balance sheet considerably going forward. Refinanced about $90 million of their debt that was coming due later this year. Very high dividend which is probably sustainable at this level but he would feel more comfortable with more clarity on the path of their cash flow.


Price:
$8.840
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
Showing 1 to 15 of 163 entries
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