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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
2015-05-12 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Bonds. Government bond yields are very volatile right now. He expects there was an overreaction to what had happened in Europe. They had gone down to unrealistically low levels. At one point the 5-year Canada got down to about 62 basis points with the 10-year way under 2%. We have had a bounce back and it has been extraordinarily volatile. The 5-year Canada yield went from 62 basis points all the way up over 1%. Thinks it is one of those pendulum swings. Went too far one way and maybe will swing too far in the other direction, and settle somewhere in the middle. Thinks bonds are extraordinarily dangerous right now. The direction is certainly stable to upwards, and he doesn’t see very much of a downward movement on yields in the next year or so. The chance of getting beat up on bonds is better than the chance of getting rich.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
_N/A
2015-05-12 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

US banks. An individual bank or an ETF? He is never in favour of ETF’s. The trouble is that you get the good, the bad and the ugly. Prefers Goldman Sachs (GS-N) and J.P. Morgan (JPM-N), and thinks both are poised to break out with considerably higher earnings. Also, both have scope for both share buyback and increased dividends.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2015-05-12 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. This earnings season was better than expected, in part because the bar was set quite low, particularly in the US, because of the headwinds from the strong US$, so people had tempered their expectations. In Canada people understood it was going to be a weak quarterly earnings, both because of energy and the side effects of energy. If you set the bar low enough, pretty much anyone can jump over it. However, there were quite a large percentage of companies doing somewhat better than expected. He would say the earning season was nothing to get excited about either way, and the market has reflected that. Price earnings multiples are stretched, but that is justified because rates are so low that they still offer better value. When you have blue-chip stocks paying a yield that is 5 or 6 times what you can get on a 5 year bond, you can see why people would rather own a blue-chip stock than a bond. The US offers some very interesting opportunities that we don’t often see in Canada. We have such a concentrated market in Canada. It is a small market in Canada with a few big stocks, so when he is looking for diversification, it is natural to look to the US.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
_N/A
2015-05-12 COMMENT Must be logged in to use chart AC-T Air Canada (B)

Airlines have done a tremendous job of squeezing money out of passengers. The question is, how far does it go before passengers revolt. He isn’t crazy about airlines because there is too much they can’t control, such as fuel prices, labour costs and load factors. If he wanted to own an airline, it would be this one rather than Westjet (WJA-T).


Price:
$12.160
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-05-12 TOP PICK Must be logged in to use chart AIG-N American International Group

Continues to be somewhat punished by the market for the sins of 10 years ago. Trading at 75% of tangible Book Value. If interest rates go up, companies like this make more money. This is a value play in that you are getting it at less than BV, and it is a play on future earnings growth is interest rates go up. A good counterweight to stocks which are sensitive to higher interest rates, such as utilities, telcos and REITs. Yield of 0.85%.


Price:
$58.760
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-05-12 COMMENT Must be logged in to use chart ATD.B-T Alimentation Couche-Tard (B)

This is been a huge winner on the stock market. Made some big acquisitions that they integrated fairly well. It still has a lot of work to do in terms of integrating. They have never run a big company before.


Price:
$46.030
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2015-05-12 BUY Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

Hit an all-time high of around $70 about a month ago, so they did what managers do at that point and did a share issue. Did a great big one and priced at a discount to the then market price, and the market had to absorb all those shares. It is not at all surprising that the stock went down. These are tremendously smart managers. One of the things that is very difficult to value are the partnerships they manage, but he thinks they are undervalued. Because of this, he is still a buyer.


Price:
$65.360
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-05-12 TOP PICK Must be logged in to use chart BCR-N Bard C R Inc.

Basically manufactures disposable health supplies that are used, thrown away, and then replenished. Due to the US Affordable Care Act, there are more and more people that are covered and are having operations. It has a bit of a moat in that it is hard to compete with. Also, came out with a balloon that is used in angioplasty and is covered with drugs. Dividend yield of 0.53%.


Price:
$167.160
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-05-12 COMMENT Must be logged in to use chart CBI-N Chicago Bridge & Iron Co.

Took a very hard look at this 2 years ago on the thesis that American infrastructure is falling apart. There are thousands of bridges in the US that need to be replaced, tens of thousands of miles of roads and highways that need to be rehabilitated. He thought that surely somebody was going to spend money on infrastructure in the US, and this company would benefit. The problem is the deadlock in the US Congress. Everybody understands that money has to be spent on these things, but Republicans don’t want to do it while Obama is still in office. If you think a Republican will be elected as a president, this would probably be a good thing to buy.


Price:
$48.490
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-05-12 PAST TOP PICK Must be logged in to use chart CGX-T Cineplex Inc

(A Top Pick May 9/14. Up 23.75%.) A popcorn seller that has movie theatres connected to the concession stand. Their latest quarterly report show they did tremendously well on the concessions. Margins on popcorn and soda pop are breathtaking. They are also very good at getting revenue from airlines and advertising in the theatres. Have a huge summer coming up with a number of big blockbusters coming out. He is looking for a big 2015.


Price:
$48.890
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-05-12 COMMENT Must be logged in to use chart CNR-T Canadian National R.R.

This is a terrific railway. A very well-run company. He is waiting for it to get a little bit cheaper. There is a little bit less crude going by rail now because of less activity, particularly in North Dakota. This is going to impact on the railways profits. It is a little expensive right now. He prefers CSX Corp. (CSX-N), which has less commodity exposure and more intermodal exposure.


Price:
$76.530
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-05-12 COMMENT Must be logged in to use chart CPG-T Crescent Point Energy Corp

Have terrific properties in Western Canada. Produce very high quality crude and are a fairly low cost producer. Like everybody else in the energy field, they are a price taker. They don’t get to determine what the price for their commodity is going to be. His vision is that we are going to see energy prices drop fairly sharply from their current level. Because of this, he is not buying any energy companies at the moment and doesn’t own any.


Price:
$29.300
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-05-12 COMMENT Must be logged in to use chart GILD-Q Gilead Sciences Inc.

Their big drug right now is for hepatitis C. They were the first company to really get a drug to cure it. Enormously expensive. There are now a couple of competitors in that space. The question is, how long can they keep the price up and how long can it be sustained. This is not a one trick pony as they have a lot of drugs in their pipeline. Feels the smaller pharmaceutical companies are a better deal at this point.


Price:
$105.560
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-05-12 PAST TOP PICK Must be logged in to use chart GS-N Goldman Sachs

(A Top Pick May 9/14. Up 29.25%.) This is a huge power in underwriting and investment banking in the US. Have always had a terrific record of proprietary trading, also make some money in commercial lending. The climate for offerings in the US really good, so they are making a lot of money on that side. The volatility in the bond market is good for traders. They raised their dividend.


Price:
$200.530
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-05-12 COMMENT Must be logged in to use chart GSK-N Glaxosmithkline PLC

5.6% is a pretty good yield for pharmaceutical company. This is one of the more mature pharmaceutical companies. Probably not a takeover target, but more likely to be an acquirer. He doesn’t like the very, very big Pharma companies. They are very hard to analyse. Too subject to competition from generic companies.


Price:
$45.270
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
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