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

Viewing Expert

Lorne Zeiler , Portfolio manager

TriDelta Financial


Date Signal Chart Symbol Company Opinion Price
2016-12-23 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market.Donald Trump made a lot of promises, and you have to position for both extremes. He expects that he is going to try to get through the agenda items which are easier, those agenda items that the Republicans have been pushing for, and ones that will be popular with both investors and the general populace. Thinks he will do the repatriation of capital. There are hundreds of billions of dollars sitting in offshore accounts, not coming back to the US because of very high tax rates. Thinks he will offer the possibility of a 5% tax rate. If this happens, expectations are that there will be $500-$800 billion back into the US, and likely going into a lot of friendly shareholder type share buybacks, dividend increases, special dividends and, as Trump hopes, spur the economy on. Another that is also likely, but to a lesser extent, is the corporate tax rate. Expects it is going to come down, and a 20%-25% rate is likely to happen. Hopes that the protectionist Trump does not come into play. There could be some problems on infrastructure spending, as he doesn’t think the party will be supportive of an increased deficit. Europe is very attractively valued, but you also need to be in the stronger US market as well.


Price:
$0.020
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
_N/A
2016-12-23 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Investments to generate income?Bonds are considered to be conservative, but you are getting a very low yield for potentially significant risk, particularly if they are longer duration. He would recommend preferred shares, particularly if they are taxable accounts. The rate you are seeing on most of them is 5%-6%. You need to spend the time to find the right manager who has the expertise and the track record.


Price:
$0.020
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
_N/A
2016-12-23 TOP PICK Must be logged in to use chart AAPL-Q Apple

He sees catalysts in this. They have what is called a “refresh” or “repurchase” program with the iPhone. The iPhone 8 is going to be hitting right at that point and grabbing market share, and you are going to have people switching devices. That will bring a new revenue source for them. People have been concerned about declining iPhone sales, and he thinks they will increase in 2017. Repatriation would be massive for this company. They have over $150 billion sitting offshore. The expectation is that if it actually does happen, they are probably going to bring about $100 billion back, which could go into special dividends, dividend increases and share buybacks. Also, they have been significantly increasing the revenue for services. Dividend yield of 1.97%. (Analysts’ price target is $131.65.)


Price:
$116.520
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Yes
2016-12-23 TOP PICK Must be logged in to use chart ABBV-N AbbVie Inc.

Thinks healthcare has been an un-forgotten asset class. As a result, there are a lot of companies with compelling valuations. This is trading at about 13.5X earnings. The majority of that comes from the auto immune therapy product, Humira, that really changes people’s lives. This will contribute about $17 billion to total earnings next year. They are seeing huge growth for emerging markets. It has come off patent, but this is an infusion medication with numerous patents around it. They’ve got a good pipeline, because they have made a number of acquisitions. They are expecting earnings growth of about 30% over the next 4 years. Dividend yield of 4.11%. (Analysts’ price target is $71.94.)


Price:
$62.340
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Yes
2016-12-23 COMMENT Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

This has been executing really well. It is one where a lot of pension fund endowments are focused. They are looking at things that are going to be able to pay them very consistent returns on long-term assets. They’ve done a great job in building up real estate in their infrastructure group. He expects there will be dividend growth, but they have been redeploying funds back into more mandates.


Price:
$44.620
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Unknown
2016-12-23 COMMENT Must be logged in to use chart BCE-T BCE Inc.

The government has just declared the Internet as a basic service, which will take from the bottom line, but doesn’t think it will be that huge. The rally this year really hasn’t come into play for the telecom companies. At this price level, it is a very attractive entry point. Don’t expect huge growth from this. It is trading at about 18X. There will be some earnings growth. Increasing interest rates help them on their pension liabilities.


Price:
$58.260
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Yes
2016-12-23 PARTIAL SELL Must be logged in to use chart CHR-T Chorus Aviation Inc

Industrials have had a good year. This also had the benefit of low oil prices. Taking some profits makes sense. If you have nothing in the US, you should be looking at some of those names, for both currency and greater growth prospects.


Price:
$7.230
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Unknown
2016-12-23 COMMENT Must be logged in to use chart CM-T Canadian Imperial Bank of Commerce

CIBC or another Canadian bank?Canadian banks have had a fantastic year. The 6 have basically been responsible for half, if not more, of the total gains on the TSX this year. As a group, they have returned roughly 30% this year. The issue with the banks is that they are now trading above their historical multiples, particularly because in the last few months, they’ve had a big increase along with the US financials, on expectations that net interest margins are going to expand. If there is further deterioration on Canadian fundamentals, this is the most domestically focused bank. Royal (RY-T) is probably a better name to go with.


Price:
$110.860
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Unknown
2016-12-23 COMMENT Must be logged in to use chart CNR-T Canadian National R.R.

Canadian National (CNR-T) or Canadian Pacific (CP-T)?In his view, this one is the better choice. It is the best quality management, lowest cost operator and the company that puts the most money into their fleet. Trading at a slight premium to Canadian Pacific.


Price:
$91.520
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Yes
2016-12-23 COMMENT Must be logged in to use chart CP-T Canadian Pacific Rail

Canadian National (CNR-T) or Canadian Pacific (CP-T)?In his view, Canadian National is the better choice. It is the best quality management, lowest cost operator and the company that puts the most money into their fleet.


Price:
$193.870
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
No
2016-12-23 PAST TOP PICK Must be logged in to use chart CPSI-Q Computer Program & Systems

(A Top Pick July 29/16. Down 39.82%.) Had been looking at this, and it had a great sales pipeline. He was looking at it to realize on some of that pipeline. It did not meet expectations so he exited at about $28 in August.


Price:
$23.350
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
No
2016-12-23 COMMENT Must be logged in to use chart CSCO-Q Cisco

A name that he likes. The industry leader. It is huge. Trading at a very reasonable valuation of about 13.5-14 times earnings. Earnings growth has been at the lower end, 2%-5% a year. Roughly 30% of the market cap is sitting in cash. If you X that out, you are looking at a 10X valuation, and he doesn’t think the market has put much on that. If repatriation for US companies happens, you are going to see some dividend increases and increased share buyback.


Price:
$30.530
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Yes
2016-12-23 COMMENT Must be logged in to use chart DH-T DH Corporation

Sold his holdings in May, when there was a bad quarter of earnings. The company did a number of acquisitions; however the acquisitions weren’t bringing the revenue in fast enough, and hence they were over levered on all of them. Q4 basically missed on all factors, and the stock fell off a cliff. They’ve been able to renegotiate their debt covenants, so that is all clean. Also, reduced distributions. The last move, from $17 to about $18, was based on the potential of an acquisition. If it does not happen, he expects the stock will decline. However, if it does happen, you could see about 20% from where we are today.


Price:
$21.990
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
No
2016-12-23 COMMENT Must be logged in to use chart FC-T Firm Capital Mortgage Investment

He prefers the private space, because they are just getting the trend on how much you are receiving from the mortgages. You are getting a lot more ability, and pricewise it is about the same. Firm Capital is a well-run company.


Price:
$14.030
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
No
2016-12-23 COMMENT Must be logged in to use chart JNJ-N Johnson & Johnson

One of the names you want to hold in the pharmaceutical healthcare area for the long term. The pharmaceutical healthcare field has had good earnings growth, and are expecting significant earnings growth next year, especially on the pharmacy side. These kinds of names were really hurt in 2016, because there was fear that if Clinton came in, they are going to start regulating prices along with additional regulations on the pharmaceutical industry. This trades at a premium to the group at about 20-21 times earnings. They have a great platform with a pipeline of about 10 medications that should be coming on market in the next 5 years. They are great at cost cutting. Also there is a potential acquisition they are looking at.


Price:
$115.960
Subject:
NORTH AMERICAN DIVIDEND STOCKS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Unknown
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