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

Viewing Expert

David Baskin , President

Baskin Wealth Management

Contact Info

Website: http://www.baskinfinancial.com/main/

Bio:

Following his early career as a lawyer and banker, David founded Baskin Financial Services Inc. in 1992. The firm, now operating as Baskin Wealth Management, has grown from assets under management of $25 million in 2000 to over $700 million today, with about 500 client families in seven provinces. David appears frequently on national television and radio as a commentator on the markets and is frequently quoted in the press. An enthusiastic sailor and traveller, David and his wife Joan Garson have two adult children. All are actively involved in community and charitable activities. 

Date Signal Chart Symbol Company Opinion Price
2017-01-04 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. This year is different, because we have a president that nobody can predict. It is impossible to have any notion of what is going to happen in the next 4 months, much less the next 4 years. He is queasy that some of the certainties we could count on, like NAFTA and a certain level of civility, are just not going to be there. Thinks a corporate tax cut is priced into the market, but doesn’t know that repatriation is priced in, because we haven’t seen a big move on the tech stocks like Apple and Google that have a lot of cash overseas. The biggest uncertainty might be with the supposed huge infrastructure plan. He is not sure that Congress is going to buy into that, particularly on top of tax cuts. He can see a lot of instability, between BREXIT, Marie Le Pen and Angela Merkel. On the other hand, the euro is approaching parity, which is very positive for euro stocks.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
_N/A
2017-01-04 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Canadian Banks? Doesn’t think it is too late to get into the sector. They’ve had a terrific run up, and certainly more expensive than they were. It is a fallacy to stay out of the market because you think you are going to get a better price in the future. People miss out on a lot trying to get the best price. Canadian banks are not terribly expensive, especially compared to the fixed income market. Bank of Nova Scotia (BNS-T) is his biggest holdings because of its international exposure. He also likes TD (TD-T) because of its US exposure, and National Bank (NA-T), because on its metrics, it is still the cheapest.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-01-04 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Marijuana stocks? His problem with this is that he doesn’t think there are any barriers to entry. Once the product becomes legal, even if it is regulated, this stuff grows like a weed. People can grow it in their backyard. Nobody is going to get arrested once it becomes legal. Thinks the margins producers are going to get, in the long run, are going to be very, very small. Currently this is a bubble and people are going to get injured.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-01-04 TOP PICK Must be logged in to use chart AIG-N American International Group

Insurers benefit particularly when interest rates go up. Companies like this get billions of dollars in premiums, and they have to do something with those premiums until they have to make payouts. What they’ve typically done is buy bonds. If you are buying bonds at 2%, you are not making a lot of money. If those bonds go up to 3%, you are making 50% more. You can buy this one right now at 80% of BV. He also thinks the dividend is going to rise very sharply. Dividend yield of 1.94%. (Analysts’ price target is $69.18.)


Price:
$65.970
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-01-04 COMMENT Must be logged in to use chart BAC-N Bank of America

The minutes from the Fed indicated inflationary pressure if the Trump government goes ahead with the fiscal stimulus they have been talking about. Lending spreads go up as interest rates go up, and banks can make more money. It seems to be a positive environment for the banks. The question is, is it already priced in? He is positive on US banks right now.


Price:
$22.950
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-01-04 COMMENT Must be logged in to use chart BBD.B-T Bombardier Inc (B)

Hopes the company succeeds and that it survives. Its balance sheet is a smoldering crater. They have a huge amount of debt. He has no idea if this company is going to make any money on its airplane orders. He worries that they are filling up the order book because they need to show some activity and they aren’t going to make any money on these planes. They’ve never made much money in the train business. You have negative shareholder equity in this company. There is a huge amount of debt that has to be refinanced. He doesn’t see how this company digs itself out of the hole.


Price:
$2.410
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2017-01-04 COMMENT Must be logged in to use chart BRK.B-N Berkshire Hathaway Inc. (B)

Buy, Sell or Hold? There is nothing wrong with making money, and taking some money off the table is never a horrible idea. In the case of this company however, it is probably premature. What is going on with interest rates is very positive for the insurance business, which is their core business. Also, this has been benefiting from a big run up in equities. He is positive on the company.


Price:
$164.080
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-01-04 COMMENT Must be logged in to use chart CGX-T Cineplex Inc

He loves the company, because management is absolutely brilliant. To a certain extent, they are dependent on what Hollywood produces for them. However, it has multiple revenue streams such as its box office, concessions, advertising, and now they have the rec rooms. It looks expensive on a P/E ratio, but it always has. Has a relatively good dividend payout. You have a management with a tremendous track record and an unbelievably deep moat protecting the company from competition in Canada.


Price:
$51.770
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-01-04 DON'T BUY Must be logged in to use chart CJR.B-T Corus Entertainment (B)

He wouldn’t buy at this point. There is a lot of uncertainty going on. The habits of millennials are very different from the habits of the previous generation.


Price:
$13.080
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-01-04 COMMENT Must be logged in to use chart CPG-T Crescent Point Energy Corp

If he were going to own an oil company, this would certainly be on the list. He doesn’t own any oil companies because he believes the market is very likely to be oversupplied again in the short run. There is so much fracing capacity that, when oil prices go down, a supply deficit will quickly turn into a supply surplus. He also has grave doubts about OPEC sticking to its resolution.


Price:
$18.160
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-01-04 COMMENT Must be logged in to use chart CVS-N CVS Health Corp

He is a believer in this company, both the stores and the home delivery product, and believes that the stock will come back.


Price:
$79.750
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-01-04 COMMENT Must be logged in to use chart ENB-T Enbridge

This has a balance sheet that is very highly levered. The risk, of course, is that interest rates go up, which pummels earnings. At the same time, because this is regulated, when interest rates go up, the regulatory authorities tend to allow them to increase rates faster.


Price:
$57.040
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2017-01-04 COMMENT Must be logged in to use chart GM-N General Motors Corporation

This is a cyclical market, but he is seeing tremendous demand, particularly for pickup trucks and SUVs. Thinks the stock is worth $50. Based on its fundamentals this looks cheap. Dividend yield of 4.1%.


Price:
$37.090
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-01-04 COMMENT Must be logged in to use chart HLF-T High Liner Foods

This is a stock that got absolutely killed in 2015, and had a tremendous resurgence last year. In general, he likes the protein stocks. This is inexpensive, and still has an acquisition strategy which it is trying to play out. Good company.


Price:
$19.310
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2017-01-04 PAST TOP PICK Must be logged in to use chart HR.UN-T H&R Real Estate Inv Trust

(A Top Pick Nov 18/15. Up 14.78%.) Everybody says REITs are interest sensitive and that when rates go up, REITs are going to get killed. The key to this on is its high-quality buildings, high quality tenants, and matching its lease terms to its mortgage rates. He still likes this very much.


Price:
$22.560
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
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