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

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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
2015-02-04 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. The drop in interest rates and bond yields has forced him to rethink how stocks should be valued. Maybe stocks should be valued more highly, simply because bond yields are so low. When he looks at things like banks, telcos, utilities, REITs and the pipelines, he is seeing yields that are now probably 5 or 6 times as high as the yield on 10 year Canada bonds. Doesn’t think this has ever happened before. Price to earnings ratios are possibly not the magic measuring stick that he had thought they were, and maybe he should be looking at cash flow yield and ROE as better measuring sticks. When he discounts those cash flows into the future, using a lower discount rate because interest rates are lower, he comes up with a higher value for those stocks. He thinks everybody is rethinking interest rates. He is seeing a rush to the bottom on rates globally. Central bankers are dropping rates in order to drop their currencies. In the most extreme case, you have Switzerland that now requires you to pay .3% to deposit money in Switzerland. They are trying to get the value of the Swiss franc down. He doesn’t know how the race to the bottom can be ended. He can see the Canadian 5 year bond rate staying below 1% for a couple of more years.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
_N/A
2015-02-04 DON'T BUY Must be logged in to use chart AA-N Alcoa

We are seeing weakness in all the metals, primarily because of the situation in China. For the longest time, commodity prices have been driven by what is going on in China. The Chinese government and their central bank is trying very hard to keep growth going forward. While this is going on, it is very difficult for metal prices in general to make any progress. One thing in this company’s favour is the expectation of a lot of aircraft orders. He is not sure it is enough to counteract the slow growth in metals globally.


Price:
$16.420
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-02-04 DON'T BUY Must be logged in to use chart ADM-N Archer Daniels Midland Company

A very difficult company to understand. In the grain trading business. A few years ago there was a very popular story about the consumption of grain. Asian consumers in particular were going to be eating more protein, which was going to drive the demand for grain, and grain prices were going to go up. We are not so convinced now about that story, and grains are actually in a big surplus. Would be wary of this.


Price:
$46.150
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-02-04 COMMENT Must be logged in to use chart BAC-N Bank of America

He owns 2 American banks, J.P. Morgan (JPM-N) and Goldman Sachs (GS-N). Goldman Sachs for its investment banking activity and J.P. Morgan just for its size and scale. Bank of America has pulled back a lot, but he thinks probably the best straight commercial bank in the US right now is Wells Fargo (WFC-N), and this would be his pick. Most investors should really own Canadian banks because the dividend tax credit gives you a tremendous advantage. He also thinks the earnings momentum in the US is probably reducing.


Price:
$15.790
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-02-04 PAST TOP PICK Must be logged in to use chart BCE-T BCE Inc.

(A Top Pick Jan 9/14. Up 36.49%.) Has added to his position and is still buying.


Price:
$58.790
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-02-04 PAST TOP PICK Must be logged in to use chart BIN-T Progressive Waste Solutions Inc

(A Top Pick Jan 9/14. Up 42.75%.) In the business of trying to consolidate the solid waste management industry. It benefits from increased economic activity, particularly manufacturing because that provides more garbage. Rates and volumes have been rising. They have a lot of activity in the US which means profits are coming back to Canada and getting bumped up by the Canadian currency. He is still buying this.


Price:
$36.370
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-02-04 TOP PICK Must be logged in to use chart BNS-T Bank of Nova Scotia

He likes this because it has so much foreign income and its growth in foreign markets, particularly in South America and Mexico. He thinks it is undervalued. Dividend yield of 4.16% is terrific.


Price:
$63.430
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-02-04 COMMENT Must be logged in to use chart BPY.UN-T Brookfield Property Partners

He is pretty hot on the entire Brookfield group. Thinks they are the smartest asset managers in Canada, and maybe in the world. Have divided their empire into a number of subsets, of which this is one. This is not his favourite, but does believe that Brookfield will cause the dividend and the distribution to rise, because that is their pattern. He feels everybody should own the parent Brookfield Asset Management (BAM.A-T), where you get interest in all the other vehicles as well as their asset management company, which he thinks is undervalued.


Price:
$30.600
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2015-02-04 COMMENT Must be logged in to use chart CGX-T Cineplex Inc

Hit an all-time high today, basically on American Sniper, which was the best selling movie in January. Also, there is a tremendously exciting slate of movies coming in the next couple of years. They have also taken on a new initiative, basically building entertainment complexes around their theatres, to keep people there longer. It’s a pretty smart group of guys that run this company. Shareholder friendly and have a distribution which is quite good for the investors, and tends to grow over time. He is quite high on this stock.


Price:
$46.420
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2015-02-04 COMMENT Must be logged in to use chart CM-T Canadian Imperial Bank of Commerce

Has never been his favourite Canadian bank based on execution. It looks notably cheap right now, and certainly on the yield basis it looks very attractive. Doesn’t think you will get hurt owning it, but in his view, it doesn’t have the special things that would make it outperform the others.


Price:
$91.340
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-02-04 COMMENT Must be logged in to use chart F-N Ford Motor

All of the American car industry companies had tremendous sales in January, and the best thing is that they had sales on their highest margin products. He thinks that the Renaissance of the American car industry is nowhere near its peak. Everybody should own one of these companies.


Price:
$15.870
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-02-04 COMMENT Must be logged in to use chart G-T Goldcorp Inc

When the whole quantitative easing in the US started, the argument he heard was that they were going to foster hyper inflation, i.e., money supplies were being blown up and Central Banks globally were blowing up their balance sheets, and the only thing that was going to be worth anything was gold and silver. That turned out to not be the case. We are not seeing inflation, but on the contrary we are seeing deflation globally, which means dollars buys more, not less. He is not a believer in gold.


Price:
$30.350
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-02-04 BUY Must be logged in to use chart IPL-T Inter Pipeline

He sees tremendous volatility associated with the price of oil, even though pipeline companies like this don’t have direct commodity risks. Oil still has to get the refineries. People still have to heat their homes. That is not going to stop even if oil goes down to $30 a barrel. When these companies are being sold off, look at it as a buying opportunity.


Price:
$33.950
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-02-04 COMMENT Must be logged in to use chart JNJ-N Johnson & Johnson

A terrific company. A worldwide seller of a huge number of very popular brands. However, being a worldwide seller is not necessarily to your advantage if you are an American company, because you are repatriating revenues and profits in other currencies, and the US$ is beating all the other currencies into the ground. All the US multinationals are missing on their earnings because of this. When you Buy this, you are getting a tremendous stream of products and a dividend record that is 2nd to none as well as a record of dividend increases. If you are a long-term buyer, you buy it for the dividend and the increasing dividend.


Price:
$101.360
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-02-04 COMMENT Must be logged in to use chart MFC-T Manulife Financial

It is going to be hard for all of the insurance companies to break out of this rut in the current conditions. (See comments under Prudential (PRU-N).)


Price:
$21.400
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
Showing 1 to 15 of 3,803 entries
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