Viewing Expert James Telfser | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

James Telfser , Partner

Aventine Management Corp

Contact Info

Email:
Website: http://www.aventine.ca

Bio:

Aventine is an independent, partner-owned investment firm that manages two equity-oriented investment funds and works with select high net worth families on tailored solutions. TheAventine Canadian Equity fund follows an Active Value approach, where we identify undervalued, underfollowed companies that are experiencing positive fundamental change and have strong market support. Our objective is to deliver consistently positive returns with relatively low volatility over long periods of time. Our families are among the firm’s largest clients, invested in the same strategies and fee structure ensuring that our interest will always be aligned. 


Date Signal Chart Symbol Company Opinion Price
2016-04-11 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Comment. Expectations are low this quarter. Earnings are the missing piece in the puzzle. Economic data has been improving, but US earnings numbers are expected to be down 9.5%. We always start quite low, and then beat expectations and sort of trail up. Expects that maybe we may come in at -5% or -6%. If there is a catalyst that takes this market higher, it will be a very strong earnings season with strong guidance. Energy has been dragging down S&P earnings, materials stocks have been dragging it down, and all the businesses that run off that, the industrials. Oil price has been improving, the material’s complex has been improving a little and some industrial numbers have been looking a bit better. He is a little more optimistic, but thinks the earnings number is the missing piece, so is not willing to bet the farm just yet. He looks at 3 key things. 1) credit spreads, 2) volatility and 3) moving averages for the major markets. All 3 have been improving over the last 6 weeks. Has about 90% exposure to the market now.


Price:
$0.020
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
_N/A
2016-04-11 TOP PICK Must be logged in to use chart AER-N AerCap Holdings N.V.

Largest airplane leasing company globally. A lot of the leasing companies have been hit hard by the credit fears that we have seen globally. All these companies are seeing a very robust airplane leasing market. This one has 85% of their new fleet coming in, leased to 2018 with a 99% utilization rate. Trading at only 6X earnings with a 14% ROE.


Price:
$38.210
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2016-04-11 COMMENT Must be logged in to use chart AFN-T Ag Growth International Inc

Holds this in the income side of portfolios, where he looks for dividend growth. The acquisition of Westeel was great, and gave them a huge market share in Canada. They’ll be able to cross sell their bins. Following the drought in Canada that affected the amount of grains coming out, and the issues of potash prices, it got to a level that didn’t make any sense. Management indicated they are not going to cut their dividend. They are also making acquisitions in Brazil, which is really smart. Feels the dividend is safe.


Price:
$36.820
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2016-04-11 SELL Must be logged in to use chart AGU-T Agrium

(Market Call Minute.) The whole Agrium, potash complex has really broken down. Potash prices are very, very weak.


Price:
$113.570
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
No
2016-04-11 COMMENT Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

There are a lot of question marks about their balance sheet. A very well-run company and have a lot of great assets. When you start questioning their accounting on how they account for some of these assets, you have to do a little bit more homework than usual. If you can’t figure it out, maybe there is a cleaner story that you can invest in that doesn’t have so much noise around the accounting.


Price:
$42.490
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Unknown
2016-04-11 COMMENT Must be logged in to use chart BCE-T BCE Inc.

There are a lot of good qualities about on safety, dividend growth, etc. Its valuation is okay. His concern with telecoms right now is that they are at historic high levels. We are coming off a lot of volatility in the early part of the year, and a lot of flows went from materials, energy and cyclicals to telecoms and utilities. Trading at pretty close to its 52 week high.


Price:
$59.240
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
No
2016-04-11 TOP PICK Must be logged in to use chart BOS-T Airboss of America

A rubber compounding company that makes rubber gloves and gas masks for the defence business. Their growth and multiple makes it a really cheap stock. Growing earnings pretty aggressively. Made a few acquisitions. Very attractive at this price. Trading at 11X earnings. Management holds well over 20% of the stock. Dividend yield of 1.65%.


Price:
$14.570
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2016-04-11 COMMENT Must be logged in to use chart CJR.B-T Corus Entertainment (B)

Shaw’s acquisition was a cash flowing asset, and was a great deal for them. There is a lot of skepticism of where media assets grow, and how much they get paid going forward. While the dividend is large, and is probably covered, he tends to focus on companies that have smaller dividends that are able to grow. Prefers Shaw Communication (SJR.B-T) where the dividend is a lot safer.


Price:
$11.960
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
No
2016-04-11 PAST TOP PICK Must be logged in to use chart CLR-T Clearwater Seafoods Inc.

(A Top Pick June 17/15. Up 2.61%.) There is a bit of an overhang on the stock right now. Seems to be a theory that they are going to raise some capital, which management has repeatedly said they are not going to. Hopes they do. Beat their 5-year plan 1 year ahead of schedule.


Price:
$12.520
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2016-04-11 PARTIAL BUY Must be logged in to use chart CPG-T Crescent Point Energy Corp

(Market Call Minute.) Would rate this as a half-buy given his views on energy and their great long-life assets.


Price:
$18.410
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Unknown
2016-04-11 TOP PICK Must be logged in to use chart CXR-T Concordia Healthcare

There is a lot of controversy in the specialty Pharma sector. Thinks this is a very misunderstood story. Felt their last quarter was strong. The company can grow organically by high single digits driven by their UK acquisition of AMCo, which will have 16 new products launched over the next few years. Trading at 4X earnings. Dividend yield of 1.18%.


Price:
$33.190
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2016-04-11 COMMENT Must be logged in to use chart DH-T DH Corporation

Had a great quarter, and he bought stock after reading their report. The report alleviated a lot of fears that the company was not going to get the kind of growth that management had said. Probably has a little more upside here. A really solid business to own. Nice dividend which is probably safe.


Price:
$38.000
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2016-04-11 DON'T BUY Must be logged in to use chart DRT-T DIRTT Environmental Solutions

Sort of office space and Lego combined. You have the office space and design on their software. The company manufactures it and installs it themselves. Very quick, very easy, and very cost-effective. Everything was going great until oil prices collapsed. He is on the sidelines for this one. Valuation is still kind of high. If they can manage through this cycle, it is going to be a very interesting business to watch. There is a lot of potential, both globally and in North America.


Price:
$5.610
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
No
2016-04-11 STRONG BUY Must be logged in to use chart EFN-T Element Financial

(Market Call Minute.) Has a lot of legs, and the street is really punishing them for no good reason.


Price:
$14.040
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Unknown
2016-04-11 COMMENT Must be logged in to use chart EMP.A-T Empire Company (A)

CEO had made it clear they were having issues with their integration with Safeway. They were bringing in the SAP system which is always very cumbersome for them. For the next few quarters after that, there have been some sizable misses. Also, this is more of a West Coast focused company. However, it is still a grocery with great real estate, great assets and the probability of making great synergies down the road. On the income side of your portfolio, this is a good time to tuck this away for the next few years, and you will probably do really well.


Price:
$20.780
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
No
Showing 1 to 15 of 432 entries
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