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

Viewing Expert

John Zechner , Chairman

J. Zechner & Assoc


Date Signal Chart Symbol Company Opinion Price
2017-02-13 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. It was interesting to see the $20 trillion mark on the S&P 500. The US government is going to go through a level of $20 trillion worth of debt as well. He is reducing his positions in financials and materials. He is not finding a lot of things to buy in this market. Valuations are too high, and there is not any fear out there. Volatility is low, and no one thinks anything can go wrong. There is a time for caution. Volatility is low and people are not worried, and that is the time when you should be worried. Economic growth is OK, but he questions if it can get ahead of inflation which is coming a little bit higher. The game of low interest rates is somewhat over. Valuations are excessively high and bullishness is high. Once you get to thinking you are missing the party, the party is almost over. There is a lot more risk to the downside than there is to the upside in the short term.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
_N/A
2017-02-13 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Energy? Canadian oil stocks have been under a lot of pressure this year. A lot of that was US selling on the basis of taxes, royalties and changes in Canada, so they have been dumping Canadian stocks. He is not a real Bull on oil long-term. Thinks it is stuck in the $50-$60 range for a period of time. Shale production in the US and global production is going to limit price gains. Has been picking away at some of the names in the past week or so, buying on some of the weakness.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-02-13 COMMENT Must be logged in to use chart AC-T Air Canada

They have their pilots and the tail end crew under contract for years to come, and it doesn’t look like there is going to be any fuel shocks. He keeps waiting for them to stumble, but they don’t. Management has done a fantastic job in turning the company around, and getting so much more efficient; the operations, fleet management, etc. On a valuation basis, it is only trading at about 5X earnings and 3X Enterprise Value to EBITDA. If it could show a little more consistency in earnings growth going forward, it could probably have a higher multiple attributed to it. Thinks there is still a lot of potential upside, but it is an airline stock and it is always going to be volatile.


Price:
$13.950
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-02-13 HOLD Must be logged in to use chart ARE-T Aecon Group Inc

He likes this company. Not only are they strong in infrastructure, but are also strong in energy spending, in particular in their Alberta acquisition they did a couple of years ago. They’ve been improving their operating margins. Volatility was always a big problem, where they got the big giant contracts and ended up losing money because of cost overruns. They’ve got that under better control and are stabilizing the earnings growth.


Price:
$16.680
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-02-13 DON'T BUY Must be logged in to use chart BAC-N Bank of America

Recently Shorted this in his Hedge Fund. People are paying up for a turn in earnings. It is coming, but maybe not at the rate that was to be expected. The positive view on the yield curve for financials is certainly positive. Interest rates had a bit of a move to the upside, but they seemed to have stalled out. Unwinding Dodd-Frank is going to take a long time. He wouldn’t own it at this time.


Price:
$23.400
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-02-13 COMMENT Must be logged in to use chart BX-N Blackstone Group LP

This is very deal driven and very opaque driven on how they make their money and what the current investments are. Had a lot in energy about a year ago, which has done well. But look at the volatility in the stock since it went public. It has been so up and down. Any sort of turn-down in the market could be a problem. A very volatile stock. He would rather own this at the bottom of the cycle rather than the top. Dividend yield of 6%+.


Price:
$30.450
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
No
2017-02-13 TOP PICK Must be logged in to use chart CAT-N Caterpillar

*Short* They’ve missed expectations 14 quarters in a row, 5 down-years of earnings. Management just said expectations were too high for next year. On their website, they are selling used equipment at a discount, rather than new equipment. Doesn’t see where growth is coming from. Dividend yield of 3.13%. (Analysts’ price target is $98.45.)


Price:
$98.500
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-02-13 TOP PICK Must be logged in to use chart FB-Q Facebook

One of the great growth companies out there. On gap-adjusted earnings, this is trading at 24X next year’s earnings. Between this and Google, they own mobile services. They are getting a higher user engagement. 1.8 billion monthly active users. (Analysts’ price target is $159.07.)


Price:
$134.050
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-02-13 PAST TOP PICK Must be logged in to use chart FCX-N Freeport McMoran Copper & Gold

(A Top Pick Feb 16/16. Up 150.55%.) About a year ago, you couldn’t give resource stocks away. This was into copper and oil and it had a really bad balance sheet. Copper turned around and oil did better. He recently sold his position. He is not as bullish on copper and oil now.


Price:
$15.960
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
No
2017-02-13 COMMENT Must be logged in to use chart GE-N General Electric

The glory days of those old growth parameters under Welsh are over. It was a different story back then. Too big a ship to move in the same way. The restructuring in the past couple of years makes sense. In the short term, there are going to be some headwinds as global capital spending slows. The strength of the US$ is a bit of a headwind.


Price:
$30.040
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-02-13 PAST TOP PICK Must be logged in to use chart GIB.A-T CGI Group (A)

(A Top Pick Feb 16/16. Up 13.14%.) This just continues to grow. Single digit organic growth, but they’ve added well with acquisitions. New management is talking about a lot more opportunities going forward and being able to derive higher margins. Somewhat expensive at these levels, but he still likes it.


Price:
$64.020
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-02-13 HOLD Must be logged in to use chart GOOG-Q Alphabet Inc (C)

It dropped 2 weeks ago, because of the earnings. Some of the investors and analysts took that as a negative. You have to remember that a $45 drop in the stock is pretty small percentage wise. Still one of his favourites. They own “search”, and with Facebook (FB-Q) they own “mobile advertising”, one of the best growth areas out there. They do very smart acquisitions and generate a lot of cash. Still one of the great growth stocks out there. Only trading at about a 20-22 multiple.


Price:
$819.240
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-02-13 COMMENT Must be logged in to use chart HBC-T Hudson Bay Co.

The story now is that you are probably getting better than $20 in real estate assets, and retail for free. If they lever up to buy Macy’s, they have to bring in joint venture partners, which would probably be real estate partners, he thinks the whole entity in the end would trade at an even bigger discount, because the debt suddenly embedded in this thing would be absolutely huge. The risk parameters would go higher. The stock has rallied a little, and he has traded out of it, although he still owns a small part.


Price:
$11.750
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-02-13 PARTIAL SELL Must be logged in to use chart MFC-T Manulife Financial

Lifecos? He owns Sun Life (SLF-T) and Manulife (MFC-T). The problem with life insurance companies, especially when interest rates are getting so low and negative, how do you fund long-term liability? That has been a conundrum. When there started to be a turn in interest rates, suddenly lifecos became more interesting investments, and he added to his holdings. Because of the big move, he has taken a bit of money out recently. He likes their growth, but valuations are at the higher end and expectations of higher interest rates are a little too bullish. He would recommend that you take some profits like he did.


Price:
$24.590
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-02-13 PAST TOP PICK Must be logged in to use chart MFC-T Manulife Financial

(A Top Pick Feb 16/16. Up 53.83%.) A year ago, people were looking at negative interest rates, which was a disaster scenario for the lifecos. He still likes the growth story here.


Price:
$24.590
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
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