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

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Patrick Horan , Portfolio Manager

Agilith Capital Inc

Address
Victor Building
80 Richmond St W, Suite 203
Toronto, ON
M5H 2A4

Contact Info
Telephone: 416-915- 0284
Email:
Website: http://www.agilith.com

Bio:

Bottom-up investor


Date Signal Chart Symbol Company Opinion Price
2014-12-09 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  He sees 2 things happening. 1.) The rest of the world has been slowing down, and commodities have been catching up to that reality. There has been a dramatic decline in the price of oil, which has really been the leadership for the commodities on the way up and leadership on the way down. 2.) The realization that the US is actually growing quite well, a little too well, and interest rate increases are probably on the horizon. Because of this, the markets are adjusting to both of these realities. When you have 2 major movements, you get a lot of currency fluctuation, which spells a lot of volatility. Equities are risk assets, so when there is any uncertainty, they are going to feel it, regardless of whether it is permanent or not. People are just switching positions and trying to figure out how they need to be set up for these 2 long dated events that are happening. Midpoint of October to the end of March or April is usually 80% of your returns. He doesn’t think there is any reason to not trust that this year. However, we really haven’t seen an over 10% correction since 2011. If you are a long-term investor, ignore it and just stay in the market. Equities are the best place to be by a country mile, and we are going to see positive earnings growth and likely multiple expansion. Over the next couple of years, we will see interest rates go up, and there will be another leg up in equities, as a result.


Price:
$0.020
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
_N/A
2014-12-09 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Energy. He has no exposure. Sees the range as being between $50 and $70. There is definitely pain going on. You don’t want to step back in and get brave on energy related stocks until there is blood on the streets. You want to see companies go bankrupt and actual turbulence and trauma. Right now what you are seeing is fear. He plays energy by being typically Short energy related companies.


Price:
$0.020
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
_N/A
2014-12-09 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Banks. Canadian and US banks are valued about the same right now from a PE standpoint. The Canadian consumer has lived on its wealth realization from its houses and real estate, and it appears that they have quite a bit of debt. This has pulled forward consumption for the Canadian economy. When that happens and liquidity dries up, which doesn’t look like it is happening right now, we are going to see air pockets and there will be reverberations and there will be risk coming into Canadian banks. The US banks have really taken their hit from 2008 to about 2011, and are on the comeback. Going forward, he expects US banks to have ROE close to 17%-19% and Canadian banks closer to 13%-14%.


Price:
$0.020
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
_N/A
2014-12-09 COMMENT Must be logged in to use chart AD-T Alaris Royalty

They own a number of different interests. They try to take part of the revenue or the margin base, and give back some of their capital to the owners. He has never been able to get his head around all of the different interests they have. Feels there is a bit of an arbitrage play that has played out positively for them, in that if they have an expensive currency, they can use it and trade it for more royalties. However, if their stock falls, they won’t be in a position to use their expensive currency, and no more deals will happen.


Price:
$34.100
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2014-12-09 WAIT Must be logged in to use chart AGF.B-T AGF Management (B)

Thinks this has been entrenched management. Have always been independent and have always had a belief that they could sustain the dividend. The pressure of the TSX coming down affecting Assets under Management (AUM) made them realize they weren’t earning their dividend and they have to do something about it. Manufacturer of mutual funds, which effectively is what they are, isn’t that proprietary anymore. The sweet spot in this business is actually dealing with the customer. Give it about a month. At 5.5X EBITDA, it is pretty cheap.


Price:
$8.280
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Unknown
2014-12-09 BUY Must be logged in to use chart AVO-T Avigilon Corp

Sometimes when markets get volatile, they sell everything that has risk associated with it such as high growth, higher than average valuation and uncertain earnings stream. That is this company. This is a great name. This is organic growth, which he really likes. When you take out cash, the stock is trading at 13X earnings. This should do very, very well in this environment.


Price:
$17.050
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-09 DON'T BUY Must be logged in to use chart BB-T BlackBerry

Likes what management has done, but doesn’t like the sector in general. There is a lot of competition, especially from the Chinese manufacturers of hand sets. This company has done very well at turning itself around, but because of the sector and that he thinks margins are coming down, he would not be in this at this time.


Price:
$11.980
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2014-12-09 PAST TOP PICK Must be logged in to use chart CF-T Canaccord Financial Inc

(A Top Pick Jan 10/14. Up 5.97%.) Had anticipated better times and a better year, which he got. Bought more in January, but sold about half his holdings in the $12 area. Today it is trading at about 8X BV, which is when you buy brokers, not when you sell them. It is now becoming very interesting. Close to a 4% dividend yield and management is buying back stock. This would be on his radar screen to pick away at.


Price:
$7.580
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-09 DON'T BUY Must be logged in to use chart CWB-T Canadian Western Bank

Doesn’t think the lower stock price is just based on oil and gas lending. The market is worried about the consumer exposure to Western Canada. There have been a series of price increases in homes. Some people have been forced to go out and buy a home, probably at uncomfortable levels. The presumption is that this bank has been a lender to these mortgages, and who knows if these people are going to have a job. Feels that is a legitimate concern. He would be very cautious on this bank.


Price:
$31.040
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2014-12-09 DON'T BUY Must be logged in to use chart D.UN-T Dream Office REIT

Payout now exceeds earnings, so the payout might be in danger. You have a lot of new office buildings coming on, especially in 2017-2018 in the Toronto, Vancouver and Calgary markets. CAP rates have been at all-time lows and it basically doesn’t get any better for the REITs, and yet this one has been breaking down. He personally does not invest in companies with dividend yields that don’t get covered by earnings with a safe margin of coverage.


Price:
$25.090
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2014-12-09 DON'T BUY Must be logged in to use chart HBC-T Hudson Bay Co.

Has benefited really well from a low growth environment. All retailers have done really well in a falling Cdn$ environment, which typically doesn’t happen. This company, (because of real estate assets and by turning into a REIT), is going up, but is not worth $24 in his opinion. He would not be in this.


Price:
$15.250
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2014-12-09 TOP PICK Must be logged in to use chart JPM-N JP Morgan Chase & Co

This gives you the double edge of a super regional bank exposed to the average person and a pretty good investment bank. Thinks the investment banking cycle is about to start, which involves M&A, new issues and an IPO market as the US market continues to take leadership and the bull market is extended out. When that happens, brokers make a lot of money. Yield of 2.57%.


Price:
$62.450
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-09 PAST TOP PICK Must be logged in to use chart MAL-T Magellan Aerospa

(A Top Pick Jan 10/14. Up 71.81%.) The fall in the Cdn$ and the rise in the US$ are going to make manufacturers, especially Canadian ones, very attractive. This company had the added leverage of debt on their books, which they have not paid off a lot of. There was also multiple expansion. Recently sold some of his holdings, but would add back to it below $12 and would take it off closer to $14.50-$15.


Price:
$13.900
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-09 COMMENT Must be logged in to use chart MBT-T Manitoba Telecom Services

Had benefited from being a rich dividend provider. The problem is, it just doesn’t have any growth. Going forward, you are probably going to get a good dividend, but with no growth. There is no room for them to grow. They are sort of landlocked. If you are happy with the dividend, you can continue to Hold it.


Price:
$27.240
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2014-12-09 HOLD Must be logged in to use chart MFC-T Manulife Financial

Very well-run. Have their Book Value and Capital Reserves in order. A great stock to have. The question is, when do interest rates re-normalize.


Price:
$22.450
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Unknown
Showing 1 to 15 of 250 entries
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