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

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Date Signal Company Expert Opinion Price
2015-03-27 N/A A Comment -- General Comments From an Expert
A Commentary
Darren Sissons

Economy. The US is definitely on a recovery path. However, their currency is getting a little high which is probably hurting earnings of some of the big international companies. He expects small and some medium-size companies with a US focus to do well. There is also obviously going to be a rising interest cost there, so there will be some challenges in funding those businesses. Europe. This is a tale of 2 parts. The Germanic north and the UK are really doing quite well and recovering nicely. Spain is also doing quite nicely. However, the south is still mired in some challenges. Thinks the Quantitative Easing is going to work for them. In Asia, China is slowing, but it still presents opportunities. Southern Asia is where he sees some really decent opportunities. For the 1st time in a long time, he is starting to think about Latin America. It has definitely been in a decline for 4.5-5 years. Next year would be the 6th year and there is starting to be some restructuring going on.


Price: $0.020
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: _N/A
2015-03-27 BUY ABB Ltd.
ABB-N
Darren Sissons

He likes this and effectively treats it as a perpetual bond. It generally has more cash than debt, does tuck in acquisitions, opportunistically prunes its portfolio and grows its dividend. It reports in US dollars, but is headquartered in Switzerland. Has raised its dividend quite nicely since 2006. Below $20 it is a Buy, and then when it gets up around the $20-$25 mark, it might pare back.


Price: $21.310
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Unknown
2015-03-27 COMMENT Alcatel-Lucent
ALU-N
Darren Sissons

Fibre buildout is going to be very positive for anyone in the telecom ecosystem. There should be some upside here, but it has been a bit of a dog.


Price: $3.700
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Unknown
2015-03-27 DON'T BUY BlackBerry
BB-T
Darren Sissons

He thinks you have missed the boat on this. It was a stellar story from 2000 up to about 2008. After that, it has been all downhill. It has the best email system, but the market is fixated on the lowest app, and as a consequence, the ecosystem that supports that, continues to get smaller. It is now a corporate product, not a retail product.


Price: $11.920
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Unknown
2015-03-27 PAST TOP PICK BB&T Corp.
BBT-N
Darren Sissons

(A Top Pick March 6/14. Up 2.29%.) The big story for the banks is going to be when interest rates rise. The markets have been disappointed that interest rates have not risen. With the issues around oil, there is a view that interest rate hikes will be pushed out a little further. Eventually there will be higher interest rates and all the banks will rise higher on that.


Price: $38.490
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Yes
2015-03-27 COMMENT British American Tobacco
BTI-A
Darren Sissons

He likes sin stocks and particularly likes tobacco. They give you dividend increases of substantial order. He particularly likes this which is effectively a Commonwealth story with the emerging markets. You don’t have much exposure with the US, and as a result, the risk of litigation is much lower. Good story and the dividend is attractive and grows slowly over time. Buy this on the dips, and you will be pretty happy.


Price: $106.060
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Yes
2015-03-27 PAST TOP PICK CARLSBERG -B-
CARL-OMX
Darren Sissons

(A Top Pick March 6/14. Down 17.7%.) (BNN shows symbol as CABGY-PK, but our records show CARL-OMX since 2011, so we will leave it as is. Bill) The markets treated this as an oil story, because 30% of revenues come out of Russia. This was giving him both a currency and a commodity risk, so he sold his holdings. Thinks that longer-term they are going to rebalance their portfolio and the stock will run again. Cheap, so if you have the appetite and it drops in the summer, you might want to pick some up.


Price: $0.000
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: No
2015-03-27 BUY HSBC Holdings P L C
HSBC-N
Darren Sissons

The government assets of Lloyds Bank are going to be sold down in 2016, and that is going to be the start of the cycle, and is what happened in the US. Rate rises are going to have to start first in the US, and then they will translate into rate rises in the UK. 20% of their earnings come out of Hong Kong in Hong Kong is pegged to the US$. The big catalyst will be increasing interest rates over time. This is a 3-5 year story. If the stock moves downwards, you are going to get a decent dividend here, so he would be a buyer at these levels.


Price: $43.120
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Yes
2015-03-27 BUY on WEAKNESS IBM
IBM-N
Darren Sissons

Starting to think this is looking a little attractive but would like to see it a little lower. Have a very, very strong balance sheet with a global suite of operations. They generally improve their dividend and do share buybacks. If you hold for a long period of time, you will make some money. It was very lofty at $192, but is now a little more reasonable. There is going to be some restructuring going on, so you are going to have to work through that. $130 is a Buy.


Price: $160.400
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Unknown
2015-03-27 TOP PICK Keppel Corp Ltd.
KEP-SP
Darren Sissons

(BNN shows the symbol as KPELF-PK, but my search through Globe & Mail and Bloomberg could find nothing. However, our site does have this under KEP-SP and they are both about oil rigs, so am presuming it is the same company.) A conglomerate that is active in the offshore oil reconstruction and ship repair market. They also have a property business. Has increased its dividend for 24 consecutive years. Good balance sheet and excellent management. A long-term story.


Price: $0.000
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Yes
2015-03-27 COMMENT Kuehne + Nagel Intl.
KNIN-VX
Darren Sissons

The largest freight forwarder in the world, and is based in Switzerland. This trades in the Pink Sheets, so it effectively is an unofficial ADR. It runs at about Fr.140 a share, so is pretty expensive in US currency. If you don’t mind paying up, you are going to get about a 4% dividend.


Price: $0.000
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Yes
2015-03-27 COMMENT Kraft Foods Group
KRFT-Q
Darren Sissons

He owns a small position himself and he doesn’t really want this to be taken out, but there are not enough details in terms of where that this will be publicly listed and how it is going to unfold. He is watching it, but there is no shame in taking some of your profit. For him, he is waiting for the next 2 weeks to see how this unfolds, in order to make a decision.


Price: $89.100
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Yes
2015-03-27 HOLD Lloyds TSB Group PLC
LYG-N
Darren Sissons

The UK government is going to sell their stake in this bank and is scheduled for 2016. When this happened in the US with Citibank (C-N) that was the start of everything when it had a big run. That will allow the bank to start issuing a dividend. At about the same time, there is the possibility of an interest rate rise. There are some very interesting catalysts. If you take a 3-5 year view, he thinks you are going to make some money.


Price: $4.740
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Unknown
2015-03-27 HOLD Mondelez International
MDLZ-Q
Darren Sissons

The question is, will this company deliver accelerated growth as expected. The jury is still out. He thinks you are paying quite a high price for what you are getting. Wouldn’t be a buyer at these levels.


Price: $35.550
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Unknown
2015-03-27 DON'T BUY National Bank of Greece SA
NBG-N
Darren Sissons

The issue around Greece is that it effectively is a ton of political risks. As the political risks start to recede, then you are going to have the ability to assess the bank in its own right. There is so much political risk that he wouldn’t look at this bank.


Price: $1.270
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: No
2015-03-27 PARTIAL SELL Port of Tauranga
POT-NZ
Darren Sissons

This has been a phenomenal story. They are doing a regional consolidation of ports in New Zealand, so you are probably looking at a five-year story. This is a good example of what happens when you have international diversification. This company needs capital to grow and has reached the point where they are going to have to start looking outside of the New Zealand market. However, at these levels, he would probably take money off the table.


Price: $0.000
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Unknown
2015-03-27 COMMENT Saputo Inc.
SAP-T
Darren Sissons

This has definitely grown nicely over time. Made an acquisition in Australia last year. He worries about things like the transpacific partnership actually moving forward and Canada de-regulating the dairy industry, where the profitability of this company would drop dramatically. Production in other parts of the world is substantially cheaper. If you can get it at lower levels this is very interesting.


Price: $34.870
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Unknown
2015-03-27 COMMENT SNC-Lavalin Group Inc.
SNC-T
Darren Sissons

This whole group has traded down. This is a cyclical. At these levels, and if you have the appetite for some political risks, it is very attractive at these levels. He likes this company moving forward.


Price: $39.840
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Yes
2015-03-27 BUY Suncor Energy Inc
SU-T
Darren Sissons

He doesn’t believe oil prices are at a level where they are meeting the cash costs of production, so he expects oil prices to move higher over time. The favoured way to play this sort of trade in a longer term recovery would be to go to the global large caps. This one is Canada’s super major, and at these levels it is an interesting Buy. If you use a 2-3 year time span, you are locking in a very attractive dividend at these levels.


Price: $36.630
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Unknown
2015-03-27 PAST TOP PICK Teck Resources Ltd. (B)
TCK.B-T
Darren Sissons

(A Top Pick March 6/14. Down 27.01%.) Sold his position. It is a good company and there will be a time to add it back. Selling it here was a good way to use capital elsewhere.


Price: $17.470
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: No
2015-03-27 HOLD Telefonica S.A.
TEF-N
Darren Sissons

They are getting quite serious about restructuring the business. In Europe, when there are regulatory changes and they embrace higher phone charges, it will mean that incumbent telephone operators will be able to dole out fibre, which will be very profitable for their businesses. Because of this, all European telecoms are running. When the dividend is re-introduced and the growth coming on, it will be a longer-term story. There are some interesting stories here, but you have to be a little bit careful in terms of the governance. He is sitting on the fence, but thinks there is a lot of upside from these levels.


Price: $14.590
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Unknown
2015-03-27 TOP PICK Unilever NV
UN-N
Darren Sissons

Has the largest emerging market exposure of consumer staples. The market doesn’t like that right now, but that is obviously a mistake as the emerging markets are growing much faster than what we have in developed economies. The dividend grows periodically. Balance sheet is fine. Yield of 3.12%.


Price: $42.490
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Yes
2015-03-27 COMMENT United Technologies
UTX-N
Darren Sissons

This is a behemoth. They are in elevators, helicopters, etc., etc. If you have the ability to buy and hold through a cycle, you should do okay with this. It is a high class industrial cyclical. If you want to make money in industrial cyclicals, you have to buy them when they are cheap. At this point in the cycle we are starting to see some currency impact from global operations, and this will hurt this company. If you Buy and Hold on a 10 year basis, you should be okay. If you have a shorter term view, this may be the time to take some money off the table. Thinks it is a very lofty here. A better way would be to play the pure play.


Price: $116.900
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Unknown
2015-03-27 TOP PICK Vodafone Group PLC
VOD-Q
Darren Sissons

The European market has changed in terms of the outlook for growth for telecom companies. This company goes around the world buying small operations, grows and then sells them off. Good management. Yield of 3.12%.


Price: $33.460
Subject: GLOBAL LARGE
Bias: UNKNOWN
Owned: Yes
2015-03-26 N/A A Comment -- General Comments From an Expert
A Commentary
Jeff Young

Markets.  The market looks expensive.  Western Canada had been the driver in Canada.  The manufacturing base in Ontario is not robust enough to make up for it.  Things that are low risk in earnings are just too expensive and the cheap ones are tied to Western Canada.  In the last couple of years we had weak Q1s and then it got better throughout the year – maybe this year.  He looks at anything that pays a dividend.  Some are more bond-like.  Others pay little but have much more ability to grow the dividend over time.


Price: $0.020
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: _N/A
2015-03-26 DON'T BUY A Comment -- General Comments From an Expert
A Commentary
Jeff Young

Food Stocks.  He does not have any exposure.  It is overvalued relative to its growth prospects.  It is a very competitive environment.  Maple Leaf (MFI-T) looks the most interesting, however.


Price: $0.020
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: No
2015-03-26 N/A A Comment -- General Comments From an Expert
A Commentary
Benj Gallander

Banks.  If you have a sell target you might want to stick with it.  They are generous in their dividends.  There is potential upsides if they look at splits.  When the banks are looking at deals like the Ivory Coast like National is, it often means they are going to start getting into trouble.  When they look at having higher returns it is also an indicator of difficulties.  They don’t interest him.  Prefers American Banks.


Price: $0.020
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: No
2015-03-26 N/A A Comment -- General Comments From an Expert
A Commentary
Benj Gallander

How to Pick AGMs to attend.  He goes to ones he is interested in so he can evaluate management.  He usually goes to ones that are not doing well and then he keeps going if he buys.  An excellent art of due diligence.  There is also free food sometimes.  He also talks to CEOs before or after AGMs.


Price: $0.020
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: _N/A
2015-03-26 N/A A Comment -- General Comments From an Expert
A Commentary
Benj Gallander

Markets.  Low oil prices eventually bleed through into economies and it is a huge plus.  The economy will do that much better than it would otherwise.  He has been looking at a lot of oil and gas but he has not played it well so far.  Oil and gas is about as out of favour as you can get and that makes it contrarian investing. 


Price: $0.020
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: _N/A
2015-03-26 DON'T BUY Apple
AAPL-Q
Benj Gallander

He thought APPL would get creamed at some point but overall it has continued to go up.  Tech companies do get beaten down at some point.  You have to keep coming back with sexy products.  He thinks it is crazy that they took on more debt when they had so much money in the kitty.  Tech companies do get beaten up at some point.


Price: $124.240
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Unknown
2015-03-26 WATCH AutoCanada Inc.
ACQ-T
Jeff Young

It’s a good business model.  The numbers looked good but the outlook was bleak in the last report.  Some of the issue is weather-related (East Coast).  They need to do more acquisitions and they need to be outside of Alberta.  They may use this opportunity to buy some dealerships that were not going to sell previously.  He will add to it eventually.


Price: $33.170
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Yes
2015-03-26 PAST TOP PICK AgJunction Inc
AJX-T
Benj Gallander

(Top Pick Apr 4/14, Down 17.02%) They are looking at a merger with a company of equal size.  They will double in size and loose a little bit of money.  They say this will help them with more excellent technology in the agricultural technology space.  They are moving from about 72 Million to 120 Million shares so that is quite a bit of dilution and will affect his target price.  They have a clean balance sheet and money in the bank.


Price: $0.780
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Yes
2015-03-26 SELL Armtec Infrastructure
ARF-T
Benj Gallander

It is unlikely they will continue.  They are in dire, dire straits and are shopping the company around.  Thinks they will be delisted and shareholders will get nothing.  They had too much debt and got hit by the recession.


Price: $0.025
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Unknown
2015-03-26 TOP PICK Alacer Gold Corp
ASR-T
Benj Gallander

Lots of money and no debt and they are expanding their copper deposit.  Companies have been looking at them and they could get possibly taken over at some point.


Price: $2.680
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Yes
2015-03-26 SELL Amaya Gaming Group Inc.
AYA-T
Benj Gallander

Does not know about the spin-off.  They are being looked at by regulators, questions about insider trading and at some point there could be some nasty articles about the corporation and what they have done.  When you deal with the gaming sector, there are some people that can be less savory than others. 


Price: $28.100
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: No
2015-03-26 WATCH Brookfield Asset Management (A)
BAM.A-T
Jeff Young

Likes it for the longer term.  Might be susceptible to a market pullback.  They are looking at more investment in Brazil and Europe.  Don’t rush in at this point.


Price: $66.490
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Yes
2015-03-26 COMMENT Bombardier Inc (B)
BBD.B-T
Jeff Young

A tough call.  It is about the ‘C’ series catalyst.  They are 80% of the way through the testing.  If they finish by end of year they can get a few more orders.  It is a cheap stock but very much a show-me story.  The Paris air show is coming up and they might get some orders out of that also.


Price: $2.510
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Yes
2015-03-26 WATCH Bombardier Inc (B)
BBD.B-T
Benj Gallander

They had difficulties 10 years ago.  Then recently they took on extra debt and the ‘C’ series was delayed.  He had been pessimistic all this time and felt they would do an equity raise.  In this case he was right.  They took on more debt and the balance sheet is ugly.  He recommends waiting for more risk to come off even though the upside will remain the same.  They are, however, a leader in the field.


Price: $2.510
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: No
2015-03-26 WAIT BCE Inc.
BCE-T
Jeff Young

Recently sold it because he thought it was overly expensive.  A good, safe yield.  There are some CRTC issues but he does not think they are meaningful to the stock price.  $50ish is a good re-entry point.


Price: $53.340
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Unknown
2015-03-26 TOP PICK Baytex Energy Corp
BTE-T
Jeff Young

(Top Pick May 22/14, Down 54.04%) He probably should have sold and come back later.  It has good assets and a good cost base and they are a good company.  When oil prices start to recover they will be a prime beneficiary of that.  It is a high quality company and just needs some support from oil prices.  He is not suggesting people back the truck up but just put a toe in.  6% yield.  The Saudis can’t produce oil for the entire world and no one but they can make money at these levels.


Price: $20.020
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Yes
2015-03-26 TOP PICK Cathedral Energy Services
CET-T
Benj Gallander

They cut their dividend in half.  They cut their capital spending in half.  They cut half their labour cost.  They have a reasonably good balance sheet.  It is a good time to buy in now.  They are smartly managed and a number of companies in this sector will go bankrupt or chapter 11 so this will eliminate competition.


Price: $2.010
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Yes
2015-03-26 DON'T BUY Campbell Soup Company
CPB-N
Jeff Young

Kraft/Heinz deal:  It put all of these companies into play in people’s minds.  But he does not see a lot of value in these names.


Price: $45.040
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Unknown
2015-03-26 DON'T BUY iShares S&P/TSX Preferred ETF
CPD-T
Jeff Young

Not a huge fan of index, passive investing.  This especially does not make sense in the preferred share market.  You need active management to do it properly.


Price: $15.370
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Unknown
2015-03-26 PAST TOP PICK Capstone Infrastructure
CSE-T
Benj Gallander

(Top Pick Apr 4/14, Down 2.18%) The regulator came in and said they would lower prices in England.  But they said the dividend will keep going.  Lots of cash in the bank.


Price: $3.670
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Yes
2015-03-26 BUY Dream Office REIT
D.UN-T
Jeff Young

Not the most highly regarded trust out there.  Decent exposure to Calgary office space.  But everyone knows about these concerns.  It has an 8% yield.  The dividend is safe.


Price: $26.260
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Yes
2015-03-26 DON'T BUY Detour Gold
DGC-T
Benj Gallander

Does not follow any more.  He has never been close to buying it.  He owns 4 other gold companies.  He likes the gold sector but never came close to buying into this one.  Most companies in the sector have poor balance sheets. 


Price: $11.080
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: No
2015-03-26 WEAK BUY Dollarama Inc.
DOL-T
Jeff Young

It just won’t quit.  They increased their view of how much they can expand in terms of stores.  It is defensive.  He can’t get over the valuation but clearly it has been going up and still will.


Price: $69.050
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: No
2015-03-26 DON'T BUY Encana Corp
ECA-T
Jeff Young

Gas is the primary driver of this one.  There continues to be lots of gas.  Even if production pulls back it is easy to put it back on.  He can’t see the price of gas going up dramatically.  They had lots of balance sheet issues, but addressed those with an equity raise.


Price: $14.070
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: No
2015-03-26 BUY EnerCare Inc
ECI-T
Benj Gallander

They just raised the dividend 15%, the biggest in their history.  They might increase the dividend again at the end of next year.  He has tremendous confidence in the management.  They have had less customers falling off them recently.  Companies they bought turned out very well. 


Price: $15.550
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Yes
2015-03-26 PAST TOP PICK Flextronic International
FLEX-Q
Benj Gallander

(Top Pick Apr 4/14, Up 33.26%) Still likes it a lot.  Recent results were good.  Revenue and income are going up.  They are buying back a ton of shares.  Great comeback from the recession when they were losing money.  They could get taken over.


Price: $12.340
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Yes
2015-03-26 WEAK BUY Freehold Royalties
FRU-T
Jeff Young

Oil and gas royalty company.  The attraction is the lower operating risk, but you are still exposed to the commodity price.  It is a call on oil prices.


Price: $18.270
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: No
2015-03-26 TOP PICK First United
FUNC-Q
Benj Gallander

Good financial ratios and capitalization ratios.  If they start repaying a dividend he can see a cent or two a quarter and then moving up from there.  Thinks they will start the dividend this year.  A nicely managed company.


Price: $8.570
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Yes
2015-03-26 WAIT Horizon North Logistics
HNL-T
Benj Gallander

He has heard a lot of pessimism.  They got hit but the cutbacks in the north because they supply camps for oil and gas companies and that will hit their bottom line.  A great company for him to follow.  It is a direct oil and gas play.  It is worth looking at but the question is when to buy in.  Perhaps the end of the year with tax loss selling.


Price: $2.470
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Unknown
2015-03-26 PAST TOP PICK IGM Financial Inc.
IGM-T
Jeff Young

(Top Pick May 22/14, Down 9.17%) It was about turning around redemptions.  Earnings have gone up but there was compression of their multiple because of pressure on their fees.  His price target is down a little from last year.


Price: $45.800
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Yes
2015-03-26 DON'T BUY Magna Int'l. (A)
MG-T
Jeff Young

They had a 2 for 1 split today.  It should not have a big impact on the price.  It is tied into the US economy.  It is cheap on a PE ratio but it is at the high end of its range.  It is a popular stock and could be susceptible if we get more of a market correction. 


Price: $64.960
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: No
2015-03-26 SPECULATIVE BUY National Bank of Greece SA
NBG-N
Benj Gallander

He sold and lost money on this one.  There is talk of Greece running out of money.  The stock has been diluted tremendously.  This is a dangerous, dangerous company.  It is hard for them to go under and there may be a lot of upside.


Price: $1.310
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: No
2015-03-26 WATCH Noront Resources Ltd.
NOT-X
Benj Gallander

The ring of fire will be years in the making.  Certainly they do have a lot of potential.  When you can buy a potential future asset that could be worth mega millions for $20 million, well that’s what Benj likes to do.  They won’t have earnings right away and people will jump at it.  He doesn’t not buy into companies without revenues.


Price: $0.610
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: No
2015-03-26 BUY Orange SA
ORAN-N
Benj Gallander

Pays a nice enough dividend.  He will sell at $27+.  He needs 100%+ upside for him but his partner bought it.  He is not impressed enough with the upside.  The revenues have been coming down but they say they will go up again.  They have cut costs and are leaders in the market.  He is happy to collect the dividend.


Price: $16.220
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Yes
2015-03-26 DON'T BUY Potash Corp of Saskatchewan
POT-T
Jeff Young

The tax changes were not that meaningful for them.  It will not hurt the dividend.  He is out of the name because of lack of demand and more supply coming on.  Prefers AGU-T but is not in that right now either.


Price: $40.920
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: No
2015-03-26 TOP PICK Pembina Pipeline Corp
PPL-T
Jeff Young

It has come down quite a bit, but he likes the assets.  They touch more than half the oil moving around Alberta.  They have assets where he expects development to continue.  They have a decent dividend and decent growth prospects.  If we run into more troubled commodity prices for longer there will be pressure on the stock price, but as for the information they have now, it is in the stock price.


Price: $40.390
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Yes
2015-03-26 BUY RioCan Real Estate Investment
REI.UN-T
Jeff Young

Very good, stable stock.  Retail plazas around the country.  Not a ton of growth so they are captive to interest rates.  A high quality company.


Price: $28.880
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Unknown
2015-03-26 DON'T BUY Sherritt International Corp.
S-T
Benj Gallander

Lots of difficulties.  He did not come away from the AGM with their management.  It could be a success but right now he is just too scared.  They likely won’t go bankrupt but he does not have confidence in their management.


Price: $2.210
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Unknown
2015-03-26 BUY Surge Energy Inc
SGY-T
Benj Gallander

A lot of refiners are going to off line in the spring.  They take a look at their facilities and do clean up.  That should affect the price of oil.  It is moving within a pretty good range.  He is not sure where it is going to go.  He still thinks it will go over $65 before year-end.


Price: $3.240
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Unknown
2015-03-26 WATCH Stella-Jones Inc.
SJ-T
Jeff Young

He sold it on valuation, but the business has done very well.  There is a consolidation going on across North America in that industry.  It is a bit of an illiquid trader as well.  Re-enter below $35.


Price: $39.950
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: No
2015-03-26 PAST TOP PICK SNC-Lavalin Group Inc.
SNC-T
Jeff Young

(Top Pick May 22/14, Down 19.14%) They are going to fight the charges.  The employees left in the company had nothing to do with it so it is a pity to punish them for it.  They are forbidden from bidding on Canadian government contracts now.  The valuation is reasonable.  They have infrastructure assets they are monetizing. 


Price: $40.930
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Yes
2015-03-26 DON'T BUY Tricon Capital Group
TCN-T
Jeff Young

They continue to deliver.  The company has done very well.  They just bought several hundred single family homes in the US.  They also have a land development business.  It is a bit expensive.


Price: $11.160
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Unknown
2015-03-26 HOLD Toronto Dominion
TD-T
Jeff Young

The valuations on banks are not hugely challenging but the growth targets are not high.  He does not think credit issues in Alberta are significant.  They are okay and you get almost a 4% dividend.  It won’t be the best year for them but that is in the price.  A good long term place to be and he likes their US exposure.


Price: $53.640
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Yes
2015-03-26 WATCH TorstarCorp (B)
TS.B-T
Jeff Young

The dividend is safe for the foreseeable future.  They have a lot of cash on the balance sheet and the question is what they are going to do with it as the newspaper part of the business looks dismal.  Wait to see what they are going to do.


Price: $6.640
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Unknown
2015-03-26 BUY Veresen Inc
VSN-T
Jeff Young

The future is all about Jordan Cove and bringing it in on time and on budget.  It does not have a lot of energy price exposure in the near term. 


Price: $16.410
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: No
2015-03-26 COMMENT Whitecap Resources
WCP-T
Jeff Young

Just did an equity raise.  It has done very well.  A high quality company.  Well hedged this year.  If oil prices start to move up you won’t have as much leverage with this name.


Price: $14.340
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Unknown
2015-03-26 WATCH West Fraser Timber
WFT-T
Jeff Young

Move from Energy to Timber?  You are moving from one cyclical to another but the factors are different.  It is related to US housing and some Chinese buying.  WFT-T is his favourite.  He is looking to reenter it.


Price: $65.310
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Unknown
2015-03-26 WEAK BUY Wi-Lan Inc.
WIN-T
Jeff Young

Does not follow it closely.  They have been working on finding ways to fund these legal battles they fight.  They are looking at partnering with legal firms.  It is not a steady state in terms of earnings growth.  The payout is safe at the moment.


Price: $3.010
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: No
2015-03-26 TOP PICK Westjet Airlines
WJA-T
Jeff Young

It has come off a bit after doing very well.  It is the perpetual problem with airlines where they overbuild capacity and demand is not there to keep it up.  They are expanding into more holiday travel.  It sold off on the Western Canada worries and he thinks it is overdone.  They have this economy of premiums and they continue to find ways to add to their revenue line.  The risk is if the economy turns down and air travel falls.


Price: $29.600
Subject: CANADIAN DIVIDEND
Bias: CAUTIOUS
Owned: Yes
2015-03-26 WATCH Yamana Gold Inc.
YRI-T
Benj Gallander

Is on his watch list.  Not of tremendous interest but when it catches fire it could move quickly.  The financial statements are not great and they are looking to take care of that.  When gold prices go up this one will go up a lot more than others because a lot of people follow it.


Price: $4.880
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: No
2015-03-25 N/A A Comment -- General Comments From an Expert
A Commentary
James Hodgins

Markets.  We are in a battle between the deflationary debt and deleveraging, and the central banks printing money.  This has been going on since 2009.  In the smaller cap commodity side things have been very negative for 3 years now.  We are heading into ‘pre-announcement season’.  You are likely to see some pretty big misses and that could put downward pressure on equities.  He is seeing some definite rolling over in global trade.  We could be at a cyclical peak in the inventory cycle.  He tries to find companies that have unique characteristics that are not dependant on short term cyclical factors.  He shorts cyclical companies with negative currency exposure.  We are heading into the weakest period of the year for metals.


Price: $0.020
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: _N/A
2015-03-25 N/A A Comment -- General Comments From an Expert
A Commentary
John Wilson

Markets.  On the US economy he is optimistic but not so much on the markets.  The first quarter is going to be difficult.  The strong dollar, lower exports, and is energy collapsing, but 2.5-3% growth should occur in the rest of the year.  It will pick-up because of the price of gas.  Americans live pay cheque to pay cheque and so this will translate into consumer spending.  There is a lag until that really flows into retail sales.  Canada is different with its bigger exposure to energy, which will bleed through to the rest of Canada.  You add to that how emerging markets are still facing a lot of growth challenges and that will weigh on commodities.  Also our consumers are quite levered.  Canada is much more challenged.  Just because we have been up for 6 years does not mean we can’t go for 7.  But we have seen an increase in volatility.  Earnings are not increasing right now, so the multiple would have to go higher for the market to go higher.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: _N/A
2015-03-25 COMMENT Apple
AAPL-Q
John Wilson

Stock vs. Stock.  BRK.B-N vs. AAPL-Q.  The actual price should have nothing to do with it.  If you want to hold it 5-10 years then choose BRK-N.  In Apple’s space, they take turns dominating the space, so he can’t be sure of it for 5 to 10 years.  Buffet may not be around in 10 years but he has good people running the company.


Price: $123.380
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Yes
2015-03-25 COMMENT Air Canada (B)
AC-T
John Wilson

The airline industry has gotten a lot better in Canada and the US.  Load factors are a lot higher.  Fuel is much cheaper.  Fuel surcharges are still on the ticket and now baggage charges.


Price: $12.800
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: No
2015-03-25 DON'T BUY Athabaska Oil Sands Corp
ATH-T
John Wilson

Has been a tragic story even before the oil price went down.  They have relatively high cost plays.  It looks like a stranded asset.  He would prefer a producing asset that could pay you a dividend.


Price: $2.120
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Unknown
2015-03-25 HOLD Amaya Gaming Group Inc.
AYA-T
John Wilson

If you can get through the legal overhang there is probably upward potential.  You will have to ride it out.  For the next number of months you will have headline risk.  Given the cash flow potential and the growth potential of the company, it is appealing.  He likes to have significantly more upside potential than downside risk.


Price: $28.740
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: No
2015-03-25 DON'T BUY Bombardier Inc (B)
BBD.B-T
John Wilson

You could argue that you get the aerospace business for free, but they lost enough time on delivering the ‘C’ series that they allowed competitors to eat into what would have been an appealing market for them. 


Price: $2.540
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Unknown
2015-03-25 DON'T BUY Bird Construction Income Fund
BDT-T
James Hodgins

They have exposure directly to energy bit also to construction out west.  He has been short the stock since the energy decline.


Price: $9.960
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Yes
2015-03-25 COMMENT Berkshire Hathaway Inc. (B)
BRK.B-N
John Wilson

Stock vs. Stock.  BRK.B-N vs. AAPL-Q.  The actual price should have nothing to do with it.  If you want to hold it 5-10 years then choose BRK-N.  In Apple’s space, they take turns dominating the space, so he can’t be sure of it for 5 to 10 years.  Buffet may not be around in 10 years but he has good people running the company.


Price: $143.560
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: No
2015-03-25 DON'T BUY Baytex Energy Corp
BTE-T
James Hodgins

They just lost an equity financing.  Historically it was thought of as a heavy oil play and now it is a light oil play.


Price: $19.480
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Unknown
2015-03-25 PAST TOP PICK Baytex Energy Corp
BTE-T
John Wilson

(Top Pick Feb 11/14, Down 48.26%) He sold in the spring after it ran up.


Price: $19.480
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: No
2015-03-25 PAST TOP PICK Bellatrix Exploration Ltd.
BXE-T
James Hodgins

(Top Pick Apr 21/14, Down 69.70%) He sold it just after he recommended it, taking a small loss. 


Price: $3.190
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: No
2015-03-25 TOP PICK Canam Group Inc.
CAM-T
James Hodgins

Commercial construction the US.  They also offer architectural and design services.  More than a $ billion back log.


Price: $12.560
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Yes
2015-03-25 DON'T BUY Canadian National R.R.
CNR-T
John Wilson

He owns CP-T.  As a group he is not in love with rails.  CNR-T’s free cash flow conversion has not been as good as other rails.  Grain was a big bumper crop a couple of years ago and now he thinks there is only downside in grain shipments.


Price: $83.950
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: No
2015-03-25 BUY Corby Spirit and Wine (A)
CSW.A-T
James Hodgins

He has held it for 4 or 5 years.  About 18 months ago they switched the marking for Wiesers to their parent company.  They are gradually rolling this out in the US and are doing well.  He could see this being taken out.


Price: $24.240
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Yes
2015-03-25 DON'T BUY Concordia Healthcare
CXR-T
James Hodgins

It is now at the level where they did a huge acquisition of drug portfolios.  They had to do a big debt and equity issue.  Prefers MSL-T.


Price: $84.100
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Unknown
2015-03-25 WAIT Detour Gold
DGC-T
John Wilson

Gold companies doing well last year were operating in geographies where they benefited from declining currencies.  In the last little while we saw the Canadian dollar getting back some of the ground so the trade goes the other way.  The gold price itself is fighting against the idea that the Fed will raise rates.  He is not near term bullish on gold, but it will do better in 3 to 5 years. 


Price: $11.420
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Unknown
2015-03-25 BUY Medical Facilities Corp.
DR-T
James Hodgins

Solid management team, and a tail wind due to currency.  Revenues are in US dollars and dividends are in Canadian dollars.  He would definitely take a look at it.  6.7% dividend.


Price: $16.460
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: No
2015-03-25 TOP PICK Element Financial
EFN-T
John Wilson

Announced a new Chairman today.  The chairman is now separate from the CEO position.  Pretty strong organic growth.  Earnings growth in the 30% or better range.  16 times this year’s and 12 times next year’s earnings.  They won’t pay cash taxes for a long time.  He has had it for a couple of years.


Price: $16.550
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Yes
2015-03-25 BUY Enbridge
ENB-T
John Wilson

Stock vs. Stock.  ENB-T vs. TRP-T.  His preference is ENB-T.  Seems like a better growth profile that is easier to predict.  An easier way to make money going forward.


Price: $62.200
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Yes
2015-03-25 HOLD General Electric
GE-N
John Wilson

They have a big energy exposure, and international business weighs on them.  Their industrial business is doing well and they have a huge cash pile off shore.  It may not get a fast move in the stock price but it could be a good long term hold.


Price: $24.910
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Unknown
2015-03-25 PAST TOP PICK CGI Group (A)
GIB.A-T
John Wilson

(Top Pick Feb 11/14, Up 55.62%) They can certainly afford to do another deal.  They de-levered from the debt they took on when they did the European acquisition.  It is a top 5 holding for him. 


Price: $53.410
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Yes
2015-03-25 PAST TOP PICK General Motors Corporation
GM-N
John Wilson

(Top Pick Feb 11/14, Up 10.70%) He rotated out of GM-N and went into parts makers.  It was proving to be so painful with the recall mess.  There is tremendous long term value there and a lot of capital to be potentially returned.  He moved to MG-T and LNR-T.


Price: $37.380
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: No
2015-03-25 PAST TOP PICK Guestlogix
GXI-T
James Hodgins

(Top Pick Apr 21/14, Down 37.98%) They announced a bunch of contracts for global new deployments and some of them have now been pushed out and margins on renewing contracts are lower than the street had forecast.  He has almost no position left.


Price: $0.800
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Yes
2015-03-25 TOP PICK Hudson Bay Co.
HBC-T
John Wilson

They have tremendous real estate in every city across the country.  You add to that what Saks had and he feels it is a tremendously undervalued company.  It is run by someone who is a real estate guy who is really good at surfacing value from real estate. 


Price: $25.560
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Yes
2015-03-25 WATCH Input Capital Corp
INP-X
James Hodgins

They purchase revenue streams from farmers of Canola seed.  He likes it.  They are supposed to come out with numbers in early April.  He thinks there is a chance for it to become quite large and if they get enough size they can start charging premiums and have better pricing power in the marketplace than an individual farmer could have.


Price: $2.950
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Yes
2015-03-25 COMMENT Klondex Mines Ltd
KDX-T
James Hodgins

They have properties in Nevada and have had good drilling success recently.  But he is negative on the commodity.  He thinks the project is economic, however.


Price: $2.700
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Yes
2015-03-25 BUY Kraft Foods Group
KRFT-Q
John Wilson

The deal makes sense.  The private equity group they are working with have a great track record.  He thinks they will make it a better business over the next 3 to 5 years.


Price: $83.170
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Unknown
2015-03-25 DON'T BUY Lightstream Resources
LTS-T
James Hodgins

Stay away.  Lots of debt on the balance sheet.  The dividend was cut. 


Price: $0.940
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Unknown
2015-03-25 DON'T BUY Genworth MI Canada Inc.
MIC-T
James Hodgins

If the housing market got really bad (dropped 20-30%) here this company would go to zero.  This is unlikely, however.  This is a very binary type of situation.  It is like picking up nickels in front of a bulldozer.


Price: $30.000
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Unknown
2015-03-25 PAST TOP PICK Merus Labs International
MSL-T
James Hodgins

(Top Pick Apr 21/14, Up 73.91%) Still one of his largest positions.  They settled a patent suit.  It is a bit of a roll up story.  They are likely to do more acquisitions.  Thinks the stock will go materially higher.


Price: $2.730
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Yes
2015-03-25 BUY Micron Technology
MU-Q
John Wilson

Memory chips.  There have been concerns on DRAM prices dropping.  But he thinks it is a great buy.  He likes it here and thinks the industry will prove itself.


Price: $26.570
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Yes
2015-03-25 SELL Nobilis Health Corp
NHC-T
James Hodgins

The management team has plans to be even more acquisitive.  He just sold today because it has had such a great run.  He would wait for them to do another big acquisition.


Price: $6.360
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: No
2015-03-25 SELL Neulion
NLN-T
James Hodgins

They are the back end for video streaming services.  The big story has been hockey streaming with Rogers.  They recently reported and it was a disappointment on the Rogers side.  He is out of the stock now.  He likes to see continued earnings momentum. 


Price: $1.025
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: No
2015-03-25 TOP PICK Pfizer Inc
PFE-N
John Wilson

Has been a sleepy pharma stock.  He likes it because of a big hoard of off-shore cash and they announced a deal in February that will give them a lot of synergies and allow them to grow earnings.  He thinks breaking up the company will bring out value as well.


Price: $34.300
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Yes
2015-03-25 WAIT Patient Home Monitoring
PHM-X
James Hodgins

He only owns some warrants and some debt.  He thinks it is fairly valued for the current level of business.  The debt level is increasing and they may have to raise some equity soon.  They are still looking at buying products where they can get the patient lists and cross sell other products.  He thinks it will consolidate in this range for a while.


Price: $1.390
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: No
2015-03-25 SELL Petrowest Corp
PRW-T
James Hodgins

A heavy equipment operator with 60% of business related to oil and gas.  The company has a lot of debt.  A BC hydro project and LNG projects were to be big for them but they are off the table now.  He sold long ago.  He is short others in the space, but this one does not have the liquidity.


Price: $0.375
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: No
2015-03-25 BUY Pivot Technology Solutions Inc.
PTG-X
James Hodgins

System integrating company.  A 10% dividend shows a lot of confidence.  He owns some of this stock.  He was buying today even.


Price: $0.380
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Yes
2015-03-25 DON'T BUY Rogers Communcations (B)
RCI.B-T
John Wilson

It has a nice yield but it is trading in a range.  He prefers T-T or SJR.B-T.  He liked the hockey deal. 


Price: $43.390
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: No
2015-03-25 DON'T BUY Banco Santander SA
SAN-N
John Wilson

A very large, global, Latin American bank based in Spain.  He would not own it because of the uncertainty in the Euro zone.  He thinks the risk in European banks is still too high.  He would prefer JPM-N or C-N.


Price: $7.460
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: No
2015-03-25 BUY Shawcor Ltd. (A)
SCL-T
John Wilson

It has done better than the group because it generates a lot of free cash flow and it deals more in gas, which has not been hit as heavily.  He likes it as a long term holding.


Price: $37.000
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Yes
2015-03-25 TOP PICK The Score Inc.
SCR-X
James Hodgins

They had $16 Million on the balance sheet but just raised equity and he thinks this is for an acquisition.  In the mean time you have massive growth in the app.  It is getting to that kind of scale where you are going to see big increases in their advertizing revenue.  Ultimately, someone like FB-Q would take them out.


Price: $0.660
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Yes
2015-03-25 DON'T BUY San Gold Corporation
SGR-T
James Hodgins

They have announced that they are shutting down most of their operations.  He does not like precious metals.  Prefers others in this space.  Prefers KDX-X.


Price: $0.040
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: No
2015-03-25 SELL Savaria Corp
SIS-T
James Hodgins

Two businesses.  One is for in-home lift systems.  The second is elevators in your home for cars.  The demographics for the medical lifts are obviously quite positive, but the others are negative.  He sold because it was getting pricy.


Price: $5.500
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: No
2015-03-25 PARTIAL SELL Sandvine Corp.
SVC-T
James Hodgins

He is concerned about the current quarter.  He trimmed some of his position.  They are in the middle of a big upgrade cycle from 1 Gig to 10 Gig.  They have some exposure to new FCC laws that limit the ability of providers to throttle back some bandwidth to some.   The company claims it is a neutral factor.


Price: $3.440
Subject: MARKET NEUTRAL INVESTING
Bias: NEUTRAL
Owned: Yes
2015-03-25 WATCH Trinidad Drilling Ltd
TDG-T
John Wilson

It is a drilling service company with high beta.  As capital spending in the oil patch gets cut these will be the first guys to get hurt.  Wait for them to come up off the bottom and then miss the first 10 or 20% and then they will go.


Price: $4.300
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC on US ECONOMY
Owned: Unknown
Showing 1 to 120 of 138,426 entries
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