Viewing Expert Bruce Campbell (1) | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

Bruce Campbell (1) , President

Campbell and Lee InvMngmnt


Date Signal Chart Symbol Company Opinion Price
2017-10-20 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. Usually, from about Nov 15 to the end of the year the market does well. From here to Nov 15, it is usually flat and then up into the year end, so maybe there won’t be any correction until early next year. Surprised energy is not doing better with oil prices of $51-$52. Stocks had a nice run when oil initially pushed through $50, but it hasn’t really followed through, even though it has tried a couple of times. Fears of a bubble in Canadian real property has kind of dissipated. In the banks, the quarter was up about 9%, dividend increases were still there, and we now have reasonable returns, so it’s a nice place to hide.


Price:
$0.020
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
_N/A
2017-10-20 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Black Swan? By definition, an upcoming recession is probably not a Black Swan. Usually there is so much debt that you get out on a limb. Other than real estate, we don’t seem to have any thing else that feels like a bubble. We have an expensive market, but we don’t have an inverted yield curve or anything coming, except the pace of higher rates. If there is some danger of the Fed tightening too quickly and tip us over into a recession, that would be 2 years from now, so the earliest risk would be 2019.


Price:
$0.020
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
_N/A
2017-10-20 PAST TOP PICK Must be logged in to use chart AQN-T Algonquin Power & Utilities Corp

(A Top Pick Oct 28/16. Up 24%.) In a general sense, this is like some of these growth utilities; making acquisitions in the US, and using their paper. That is what you want. If you are going to buy something for yield, you can’t just have stagnating earnings growth, you need them to have the ability to raise the dividend so that they can lean into higher rates, and the stock will continue to grow. He is hopeful that there will be another accretive acquisition coming soon.


Price:
$14.000
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-10-20 COMMENT Must be logged in to use chart BB-T BlackBerry

Sell or Hold? They’ve changed from hardware to software. The asset values he sees from the street are $16-$17, and the consensus might be $15, so you are getting pretty close. If he owned it with $10 costs, he would be tempted to take half off the table. It is getting close to full value. John Chen does a good job.


Price:
$14.020
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
No
2017-10-20 TOP PICK Must be logged in to use chart BBT-N BB&T Corp.

This is most like a TD Bank (TD-T) in that it is an east coast regional from Florida up through New England. Very cheap relative to its US peers. It would look a little expensive on Canadian standards, trading at 13X earnings instead of 11X earnings, and a 2.8% yield instead of 4%, but would be a bigger beneficiary on higher rates. Very retail. If we get the Fed going again in December, and 1 or 2 times next year, they’ll have decent earnings growth, and there are still lots of targets of smaller regional banks for them to buy. (Analysts’ price target is $49.)


Price:
$47.500
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-10-20 COMMENT Must be logged in to use chart BNE-T Bonterra Energy Corp

This hasn’t acted well. It’s like a lot of energy stocks, but this is still down 50% for the year. Got caught with a little “worse than average” balance sheet, which has been a kiss of death in the stock market. With the combination of a really good balance sheet, very low costs and drilling prospects, you are still down, but not very much. It will take a while. It’s one of those companies that needs $60 oil to be better. If you think that is not going to happen, then he would switch to something else where you would be better protected.


Price:
$13.950
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Unknown
2017-10-20 WATCH Must be logged in to use chart CJR.B-T Corus Entertainment (B)

Pays a 9% dividend yield. There is probably no short-term danger of it being cut. It has been at a relatively high yield for quite a while. It is a tough environment for them with a tough set of assets. You can hold it for the dividend, but he would be a little nervous doing that indefinitely. If you do, watch it every quarter to make sure there is no further deterioration.


Price:
$12.280
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Unknown
2017-10-20 PAST TOP PICK Must be logged in to use chart CNR-T Canadian National R.R.

(A Top Pick Oct 28/16. Up 25%.) Doesn’t think the 25% will get repeated. Well-managed and a good way to get industrial and general economic exposure. Also, if you own pipelines, rails are a good hedge.


Price:
$102.980
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-10-20 HOLD Must be logged in to use chart CPX-T Capital Power

Northland Power (NPI-T) or Capital Power (CPX-T)? This one has a little more non-sustainable stuff in it. As the outlook for that has improved, it has done better lately. He would classify both as in the Hold category, and a little bit lower on the pecking order. (Owns some of the preferreds.)


Price:
$25.410
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-10-20 COMMENT Must be logged in to use chart DHX.B-T DHX Media

Has put itself up for sale. With Canadian content there are only a few selective buyers. That really restricts it. On the other hand, they would have to break it up which becomes complicated. He’s wondering if 1 or 2 Canadian buyers have kicked the tires, maybe there is a story out there that nothing is going to happen. He doesn’t hear anything, and maybe the silence is deafening.


Price:
$4.520
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
No
2017-10-20 TOP PICK Must be logged in to use chart DIS-N Walt Disney

Peaked at $116 in March or April. The worries had been on ESPN, cord cutting, etc. That has mostly happened, and they are acting to take measures to stop the bleeding and do different vehicles of distributing. ESPN was 110 million subscribers a year ago, and now it is like 89 million. “Live sports” is one of the last bastions of things that will stay. There is another Star Wars movie coming, and usually the stock does well. Also they get the attendant merchandise sales and all that. All it really has to do is go back to where it was, and you would have a 16% return. The entry point is attractive. Dividend yield of 1.6%. (Analysts’ price target is $113.50.)


Price:
$99.400
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-10-20 COMMENT Must be logged in to use chart ECA-T Encana Corp

The market tries to like it, and then gets overwhelmed by commodity prices. Although we are enjoying nice weather, that is not good for natural gas prices, so it’s pulled back again in the short term, and the group has pulled back pretty substantially in the past couple of weeks, so the 2-week outlook doesn’t look so great, even though the storage situation is not too bad. Being big and liquid, this company is viewed as one of the 2 “go to” gas names for Americans. He would prefer something with a bit better growth if you are going to go to gas, such as Paramount (POU-T).


Price:
$14.340
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
No
2017-10-20 BUY Must be logged in to use chart ENB-T Enbridge

He likes this. Feels it is still working through Spectra which they acquired in the US. A lot of stock was exchanged. Expects there has been pressure of US Spectra holders getting Enbridge stock and trying to get out of it, so it’s been trending sideways for a few months. Management said they have a 5-7 year plan of increasing earnings 8%-10%, but increasing dividends 8%-10% per year. If they are able to, this looks like one of the best yield/growth combinations out there, with safety. This is a great entry point.


Price:
$49.620
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-10-20 COMMENT Must be logged in to use chart FFH-T Fairfax Financial

Sell or Hold? This is very difficult to analyse. It’s like a black box and he doesn’t know what the earnings are going to be. There is the insurance side, but he doesn’t know exactly what the investments are all the time. For the first 7-8 years after the crash, because Prem Watsa owned all these Puts, it did really well in the crash, and he was able to grow BV on the insurance side and made gains on the portfolio, but you never knew where they where. Prem finally had a loss on the Puts but was overwhelmed by gains on the other stuff. He owns a lot of their bonds and preferreds. Because of their uncertainty, they always trade at a discount, so the yields are higher.


Price:
$653.510
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-10-20 COMMENT Must be logged in to use chart KML-T Kinder Morgan Canada

Because it looked kind of dicey to get approval, and its very strange timing of the IPO, he didn’t participate. They priced it down, but not low enough. To help with a financing, they came out with a very attractive preferred, which he bought.


Price:
$16.960
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
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