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

Viewing Expert

Kash Pashootan , Sr. VP & Portfolio Manager

First Avenue Advisory, Raymond James


Date Signal Chart Symbol Company Opinion Price
2017-01-27 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. Even with the indications from the Republicans that Canada is in the crosshairs for potential terrorists, he is not changing his portfolios, but is watching and listening closely. As a portfolio manager, it is riskier to speculate what a government will or will not do, compared to buying good businesses at the right price, and giving them the time that they need to appreciate and reflect back growth.


Price:
$0.020
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
_N/A
2017-01-27 SELL Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Preferred shares? If talking about reset preferreds, the fixed resets, it is based off a five-year Government of Canada bond, and then there is an extra component that can vary anywhere between half a point to anywhere over 2%, which is based on the credit quality of the issuer. The lower the quality, the more of a premium they pay. Preferreds have really recovered over the last 12 months or so. You have to ask yourself what do the reset terms look like. The shorter it is, the more risk you face if anything funny happens with interest rates. His view is that the Canadian economy is struggling, and there is a meaningful probability that interest rates will be cut over the next 12-18 months. If that happened, the reset preferred market would be absolutely decimated. He would sell current holdings and reinvest into something that has a lower gain.


Price:
$0.020
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Unknown
2017-01-27 PAST TOP PICK Must be logged in to use chart AQN-T Algonquin Power & Utilities Corp

(A Top Pick Jan 11/16. Up 7.46%.) Sold a few months after he had picked it, and then bought it back later in the year. He likes its diversity between Canada and the US with the distribution and generation business. You are buying this for yield, not share price appreciation.


Price:
$11.280
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Yes
2017-01-27 TOP PICK Must be logged in to use chart AVGO-Q Broadcom

This is a merger of AVGO and Broadcom, both leaders in the chip space. AVGO was in defence and automotive and Broadcom was mobile. It was the perfect marriage. By coming together, it was the cost synergies, but more so it allowed them to innovate much more quickly by having them under the same umbrella. This is essentially the largest Wi-Fi chip provider. They have established relationships with top of class companies, and it’s a space that continues to grow. Dividend yield of 1.99%. (Analysts’ price target is $215.86.)


Price:
$180.190
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Yes
2017-01-27 COMMENT Must be logged in to use chart BAC-N Bank of America

He is crazy about the US financial space. There is lots of upside. There is still regulation coming that will help the banks. Higher interest rates will help net interest margins. The US consumer is confident and is able to spend and borrow money. This bank tends to benefit from that. This is the most levered to the US consumer. You won’t go wrong with this, although the yield is awfully light at 1.2%. (See Top Picks.)


Price:
$23.360
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Unknown
2017-01-27 COMMENT Must be logged in to use chart BCE-T BCE Inc.

This has a place in a portfolio, but you have to make sure you are buying it for the right part of your portfolio. If you are looking for some real growth, this company is not where you want to go. You are paying for an established business, high quality, large market share, so it is difficult to get a 10%-12% return. The flipside is that it has a very low beta and has a great dividend.


Price:
$58.860
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Yes
2017-01-27 PAST TOP PICK Must be logged in to use chart CASH CASH

(A Top Pick Jan 11/16.) The markets in January were down, close to double digits. He went to 25% cash.


Price:
$0.010
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Yes
2017-01-27 COMMENT Must be logged in to use chart CJR.B-T Corus Entertainment (B)

8.6% dividend yield, which in the short term is safe for the time being. The flipside is, they should cut the dividend and use the cash flow to reinvest in the business to turn things around. They’ve done a great job in realigning their focus to kids and family, as opposed to some of the other brands they were operating under. If buying the stock, you are betting on the next leg up of their recovery from here. There are easier ways to make money out there.


Price:
$13.180
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
No
2017-01-27 DON'T BUY Must be logged in to use chart CM-T Canadian Imperial Bank of Commerce

Gives the best dividend, but the cheapest valuation. However, when comparing to other Canadian banks, the others are much less Canadian banks than they where 3-5 years ago. That landscape has yet to change for this bank. The market is telling you that it is not willing to place the same multiple, given that it is very Canadian centric only. He feels the Canadian economy is going to struggle for 3-5 years.


Price:
$113.160
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Yes
2017-01-27 PARTIAL BUY Must be logged in to use chart CNR-T Canadian National R.R.

Canadian National (CNR-T) or Canadian Pacific (CP-T)? He likes both. Hunter Harrison leaving Canadian Pacific has somewhat neutralized it. On a valuation basis, you aren’t getting a bargain of one over the other. He would take a half position in both.


Price:
$92.370
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Unknown
2017-01-27 TOP PICK Must be logged in to use chart COLB-Q Columbia Banking System Inc

A regional bank, which is the purest play on the US consumer. The catalyst is that they recently made an acquisition of Pacific Continental for $644 million. The share price sold off making it an attractive entry point. Dividend yield of 2.14%. (Analysts’ price target is $43.80.)


Price:
$44.760
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Yes
2017-01-27 COMMENT Must be logged in to use chart COST-Q Costco Wholesale

The low-priced leader, and is reflected in their numbers as margins are about half of their competitors. That model only works if there is high turnover and it is a margin game on each unit. The challenge is, there is no buffer to reduce prices should inventory stay on the shelves. They have done a great job at picking the right items to get them off the shelves quickly. About 25% of revenues comes from membership fees, and they have a 90% renewal rate. Their ability to grow is somewhat limited. This will always be expensive, so if you are a value investor, you would generally not go into this.


Price:
$162.060
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Unknown
2017-01-27 PARTIAL BUY Must be logged in to use chart CP-T Canadian Pacific Rail

Canadian National (CNR-T) or Canadian Pacific (CP-T)? He likes both. Hunter Harrison leaving has somewhat neutralized this. On a valuation basis, you aren’t getting a bargain of one over the other. He would take a half position in both.


Price:
$203.100
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Unknown
2017-01-27 COMMENT Must be logged in to use chart GE-N General Electric

A great business. It is essentially a pure industrial play now, which allows them to be more focused, and that is after selling $70 billion of assets by the end of 2015. The French engineering firm they acquired was the largest acquisition they had ever done, but that is starting to really gain traction.


Price:
$30.010
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
No
2017-01-27 COMMENT Must be logged in to use chart JNJ-N Johnson & Johnson

Merck (MRK-N) or Johnson & Johnson (JNJ-N) for safety? For safety, he would attribute that more to this company. They have a great yield of about 2.8%, but keep in mind that as a Canadian investor, you do not get the dividend tax credit. This company has the pharma, medical devices and consumer products. The bet you are making is that they are going to be able to turn around the recent acquisition of the devices business, and that is a big bet, because they spent a lot of money. Expects some share price volatility over the next 6-18 months.


Price:
$113.380
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
No
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