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

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Michael Sprung , President

Sprung Investment Management

Address
25 Adelaide Street East, Suite 500
Toronto, ON
M5C 3A1

Contact Info
Telephone: 416-934-7160
Email:
Website: http://www.sprunginvestment.com/


Date Signal Chart Symbol Company Opinion Price
2015-06-08 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. Thinks North American markets feel somewhat stretched. We’ve had a good correction since 2008-2009, and since then he feels investors have been bidding up the market, particularly those looking for yield. In Canada we are having the fall in energy prices, which is still reverberating through the economy. In the US, things have consistently gone up in the face of what is really not gung ho GDP growth. In Europe, we have the well known problems there, but it does look like it is somewhat stabilizing. This recent pullback provides an opportunity for investors to determine at what price levels they will be comfortable stepping in and initiating some positions. Thinks we are getting close in a number of areas there. He would be very surprised to see the US Fed raise interest rates this year. The US$ has been so strong, and he thinks that is already beginning to hurt their exports.


Price:
$0.020
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
_N/A
2015-06-08 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Telecoms? Feels they are all worried about their businesses to some extent. The Internet is changing the game very rapidly. They are trying to stay ahead of it by offering streaming services, etc., but really smart kids know how to stream without paying for a lot of services. People are getting phone services over the Internet much cheaper than the used to get it over wired line. All this leaves them with is the Internet providers, maybe offering some enterprise solutions, etc. Bell (BCE-T) and Telus (T-T) are executing relatively well to date. Rogers (RCI.B-T) has been struggling with their model. His personal choice would be Bell which gives you a good yield with good success with their fibre-optic to the home.


Price:
$0.020
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2015-06-08 DON'T BUY Must be logged in to use chart AC-T Air Canada (B)

He tends not to like capital intensive businesses with a huge labour content, so he generally does not invest in airlines. Has been a great stock over the last year or 2 and have been benefiting particularly from lower fuel prices. Also, airlines seem to find more and more ways to charge for baggage, etc. The whole airline industry tends to be either feast or famine, and when they come off, they come off very quickly.


Price:
$14.060
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
No
2015-06-08 TOP PICK Must be logged in to use chart AD-T Alaris Royalty

Extremely well-managed and a kind of unique company, in that they invest in a diversified range of primarily private companies that have solid long-term management track records and good records of profitability. Basically invest in companies in such a manner that allows the principles to retain control of the company, provided they meet certain objectives. In the meantime this company participates in the growth of those companies over time. Have been one of the consistent dividend increasers over the years. Just made one of their biggest investments in a construction company in Texas, $70 million of which $40 million is permanent and $30 million to help the transaction go through. Dividend yield of 5.05%.


Price:
$30.890
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2015-06-08 TOP PICK Must be logged in to use chart ARX-T Arc Resources Ltd

An investment in energy for people that are looking for places to initiate positions in the energy sector. Extremely well-managed. About 60% weighted to natural gas. Has a really good balance sheet. Yield of 5.51%, which is fairly well covered by earnings, and more than covered by cash flow.


Price:
$21.760
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2015-06-08 BUY on WEAKNESS Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

This has to be one of the better run of the asset management companies. The Brookfield group as a whole has raised a lot of capital within the last couple of months. Feels they are beginning to see potential acquisitions that are quite attractive. Have always being good Buyers. He wouldn’t discount them. They look a little expensive on a multiple basis. If he saw the stock go under $40, he would be a buyer.


Price:
$42.400
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
No
2015-06-08 COMMENT Must be logged in to use chart BNS-T Bank of Nova Scotia

A Canadian bank with a safe dividend and some growth? He is invested in the Bank of Nova Scotia (BNS-T), Royal (RY-T) and Canadian Bank of Commerce (CM-T). The Commerce’s ROE is quite high relative to the other banks, and they do pay a very generous dividend. All the banks have different business models, and this one is primarily exposed in the Canadian market where the other 2 are more international. If looking for something with a balance between potential for capital appreciation and diversification of business mix, his choice would probably be Bank of Nova Scotia.


Price:
$65.250
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2015-06-08 TOP PICK Must be logged in to use chart CAE-T CAE Inc

They provide modelling simulation and training services for both civil and defence aviation. The military side, which has been quiet for some time, just recently seems to have increased a little. Have just gone through a period where they invested a lot of money in pilot training facilities. As a result he expects CapX is going to be quite a bit lower going forward, which will make utilization rates look a lot better, particularly since there will be a lot of pilots retiring over the next couple of years. Yield of 1.87%.


Price:
$15.010
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2015-06-08 DON'T BUY Must be logged in to use chart CNR-T Canadian National R.R.

He doesn’t own any rails at the moment. They are representative of growth in the economy. Thinks the stocks have pulled back because people are worried about volumes going forward. This one has benefited from the stronger US economy, so after having as big a run as it has had, he thinks we are seeing a bit of a pause. He wouldn’t be stepping in at this price point.


Price:
$71.920
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
No
2015-06-08 COMMENT Must be logged in to use chart CPG-T Crescent Point Energy Corp

There have been a number of moving parts lately. Just acquired Legacy, which was a big acquisition. In order to do so, they had to raise capital, which increased debt to cash flow to around 3.4 times. Also, increased their payout ratio to over 100%. They are not earning their dividend, so are depending again on their DRIP program. Yield of around 10%, is usually a worrying sign. He is not adding to his position, but is watching it carefully.


Price:
$26.490
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2015-06-08 COMMENT Must be logged in to use chart CWB-T Canadian Western Bank

An underperformer relative to the other banks. We have slipped into a territory where, year to date, most banks are slightly in negative territory on a price point, but this one far more than the others. Despite that in the recent quarter, their provision for credit losses, seem to be holding up fairly well up. However, on a multiple basis, it doesn’t look exceedingly cheap relative to the other banks, except maybe on a Price to book basis. As the fallout from low energy prices reverberates through the economy, it is going to affect loan losses. Because of its much lower yield, he would prefer other banks. For a longer term play, it is not a bad place to be.


Price:
$28.050
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
No
2015-06-08 COMMENT Must be logged in to use chart DH-T DH Corporation

He really likes this but is having trouble understanding their recent acquisition of Fundtech, a software design company for the financial industry. Paid a lot and raised about $1 billion. Have always been very well positioned in defensive markets, but are now getting into very highly competitive markets. When a lot of capital goes up front to pay for markets where you need a huge subscriber base, he worries. He is going to wait to see how the integration goes.


Price:
$40.350
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2015-06-08 COMMENT Must be logged in to use chart EFN-T Element Financial

They are getting into a lot of areas that banks have been abandoning to a great extent. So far the execution has been excellent. Growth rate has been very good. Multiples are reflecting that growth rate will be continuing. As a value investor, he looks at multiples on a current basis. He would like to stretch himself and pay because he does think this company will do very well in the long run. However, to him it is expensive on a number of metrics. Excellent management.


Price:
$18.990
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
No
2015-06-08 PAST TOP PICK Must be logged in to use chart HBM-T Hudbay Minerals Inc.

(A Top Pick June 16/14. Up 21.71%.) Constancia, a large copper mine in Peru, is now on stream. It is going to begin to throw off a lot of cash over the next few years. Settled their strike situation in Manitoba. This stock has the potential to give you some significant capital gains. Still likes.


Price:
$11.750
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2015-06-08 COMMENT Must be logged in to use chart IPL-T Inter Pipeline

None of the pipelines look particularly cheap. They are building out their infrastructure such that their underlying asset base is increasing and the returns should increase along with that growth. You are being paid a 5% yield, which is quite generous. He sees a little more capital appreciation than he does in the other pipelines. This would be his favourite at the moment.


Price:
$28.680
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
Showing 1 to 15 of 2,853 entries
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