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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
2015-07-29 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  As a value investor, he is finding some opportunities. This market is in a great deal of turmoil. We not only had worries about Greece leaving the union, but still have yet to face some of the larger problems that are about to come up in Europe with other countries that are also in a lot of debt. Also, we still have the worries about slowing in China, which is going to affect commodity prices. This has all come to bear on the Canadian market quite a bit. On top of that there is the collapse of oil prices. It is in this kind of environment that value investors have really got to start sniffing around over the next business cycle to find good quality companies with good balance sheets that they can buy today. It would be companies that will not only prosper over the next cycle, but able to take advantage of opportunities that may arise in this environment. He is beginning to see a little bit of that in the oil/gas sector. We could be in a malaise for quite a while. There really hasn’t been a technical correction yet. It wouldn’t surprise him to see us test more lows over the next couple of months. People who have reserved cash will have some real opportunities. As a value investor, you have to really look at the balance sheets.


Price:
$0.020
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
_N/A
2015-07-29 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Crude oil. Within the economy, the energy sector is approximately 10% of GDP. Over the next cycle, we are going to see an improvement in the conditions within the energy sector, but he doesn’t know how long it remains in the current malaise. Doesn’t know where the bottom price of oil is going to be, so look for those companies that have fairly strong balance sheets and that could potentially take advantage of their weaker competitors.


Price:
$0.020
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Unknown
2015-07-29 HOLD Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Canadian Banks?  He owns a basket of these. His primary holdings are Royal Bank (RY-T), Bank of Nova Scotia (BNS-T) and CIBC (CM-T). Thinks the banks are in a fairly good position. Multiples have come off quite a bit. Bank dividends are safe, and he would expect that over the next cycle there will be dividend increases.


Price:
$0.020
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-07-29 DON'T BUY Must be logged in to use chart ABX-T Barrick Gold

This is a bit more speculative than it is an investment; it has a very high risk/reward return profile. If the price of gold starts to go up at all, this will certainly prosper from some operating leverage. Right now they are in the position of having a lot of debt and having to dispose of some assets. There are more secure companies to hold in gold than this one.


Price:
$9.380
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-07-29 TOP PICK Must be logged in to use chart AGT-T AGT Food & Ingredients

The seem to be in the right place at the right time with more and more of the world turning to other forms of grain/pulses, as a substitution on gluten ingredients. Next year is the year of the pulse, which will give them a lot more attention. They have been expanding their food ingredients side. This is one of the dominant players in pulses globally. Dividend yield of 2.01%.


Price:
$30.640
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-07-29 BUY on WEAKNESS Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

This is worth a bit of a premium. A very well managed company. Have very effectively raised money time and time again to deploy in large infrastructure projects. Has a small position. If the price were to come off another 5%-10%, he would be buying more.


Price:
$45.320
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-07-29 PAST TOP PICK Must be logged in to use chart CAE-T CAE Inc

(A Top Pick July 28/14. Up 6.7%.) This was a Top Pick again for him recently. They recently announced they were selling their mining business, a very small part of their business. He thinks they are going to stick with the avionics and health care side of the business for the time being. Has always been an extremely well-managed company and is very well positioned in the aeronautical industry. As economies globally, they’re going to be more airlines and more pilots needing training. They will also benefit from any increase in military spending.


Price:
$14.770
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-07-29 PARTIAL SELL Must be logged in to use chart CCL.B-T CCL Industries (B)

A very well-managed company. When he looks at the current price and the multiples on it, it wouldn’t hurt to take some profits, perhaps 50%.


Price:
$165.400
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
No
2015-07-29 COMMENT Must be logged in to use chart CPG-T Crescent Point Energy Corp

Has always been a very well-managed company. For many years, although they didn’t earn it, it was largely supported by the DRIP program. As production and cash flow grew, they were able to cover that. They have run a very effective hedging program. Have 58% of their output hedged at around $88, and 2016 production hedged at around $83. Regarding cash flow, although numbers have come off considerably in the last while, he is still seeing forecasts for the next 2 years of about $4, which allows them to maintain that dividend. Have a lot of very good properties and a lot of potential properties to drill extensively over the next number of years.


Price:
$19.420
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-07-29 PAST TOP PICK Must be logged in to use chart ECA-T Encana Corp

(A Top Pick July 28/14. Down 56.8%.) This is under stress, but it is one of the major players. One of the nice things is the quality of their properties. Being one of the large players, they will eventually be one of the companies that will prosper. The dividend may not be secure, but this is not a stock that you own for the dividends.


Price:
$10.070
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-07-29 PAST TOP PICK Must be logged in to use chart ECI-T EnerCare Inc

(A Top Pick July 28/14. Up 0.90%.) Yielding about 6.4%. They are still integrating the Consumer Home Services acquisition. This is adding to revenues and giving them a steadier fee income. The smart meter business continues to grow. A nice yield play to hold on to.


Price:
$13.510
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-07-29 COMMENT Must be logged in to use chart FFH-T Fairfax Financial

Has a lot of respect for Prem Watsa, a truly great investor and has created a great company with this. Has probably done better on the investment side of the equation than on the underwriting side. Long-term this is a fairly good investment, but is controversial right now, as he has come to the market and asked them to lock in his voting control of around 41%. That has been diluted over the years from 85%. Because his control has slipped, he has had to come to the market time and time again to raise capital. As long as there is a sunset clause on that control block, it is probably all right. He does not like to see control blocks that can go generation to generation. If you can ever buy the stock at close to Book Value, it is a very good buy.


Price:
$664.630
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
No
2015-07-29 HOLD Must be logged in to use chart FTS-T Fortis Inc.

Really likes this company. A couple of years ago they made a major acquisition in Texas, which was really a game changer for them. Beyond that, their other power operations are operating pretty well. They continue to increase their rate base in places where they operate and future dividends are going to increase here still. At current levels, the payout is rather modest, so he thinks they can maintain the dividend for some period of time. You are earning 3.8% on a growing company.


Price:
$36.610
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-07-29 COMMENT Must be logged in to use chart HBM-T Hudbay Minerals Inc.

One of his primary holdings within the materials sector. This is the year that Constancia is coming on stream and he thinks free cash flow is going to grow fairly significantly. Likes their production profile and thinks it is going to build substantially. He could see them buying some other assets if they become available.


Price:
$8.560
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-07-29 HOLD Must be logged in to use chart LNR-T Linamar Corp

Right now the automotive sector seems to be firing on all cylinders and he sees sales, particularly in North America, at a very high level. In this environment, the automotive parts companies are doing very well, and a lot of their pricing is in US$’s. In the long term, more and more of these companies are going to benefit from outsourcing. They also own Sky Jack where sales have been picking up with improving margins.


Price:
$80.000
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
Showing 1 to 15 of 2,875 entries
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