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

Recent Opinions

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Date Signal Company Expert Opinion Price
2017-07-21 N/A A Comment -- General Comments From an Expert
A Commentary
Ross Healy

Market. There is a lot of liquidity sloshing around the market, which really doesn’t know what to do. However, when you try to reach into the market to grab some value, it’s difficult. Because of this, what has happened increasingly lately is that as a kind of default investment, investors are going into ETF’s, somewhat blindly. The issue he has is that people buy and never mind what the quality, the underlying fundamentals are. When he sees the market doing the same thing again, he has to look back and remember what happened when this happened before. In the end, it wasn’t terribly pretty. It is very hard to fight it. There is still value to be found in certain segments. The financial sector is an obvious standout on both sides of the border as being cheap. When this market stops, you better get off.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: _N/A
2017-07-21 N/A A Comment -- General Comments From an Expert
A Commentary
Michael Sprung

Market.Non-resource markets did very well. The European economies are putting up better numbers. Even in the Asian emerging markets, there was a lot of trade in technology happening. The resource markets were somewhat left out of it, and financials were kind of dull in the 1st half. When you set the stage for the 2nd half, all of a sudden you have Central Banks around the world talking more hawkishly and interest rates rising. We are just coming out of what has been a very long, slow and tepid recovery. You don’t really know how economies are going to adjust to higher rates, and how fast that is going to happen, and whether or not there might be some adjustments along the way. Inflation is almost negligible, so why push interest rates up against that? This is a time to be really cautious and look at the quality of the companies you are investing in. Even though the recovery has been slow, markets have been fairly good. The wildcard in all of this are trade talks which have just started.


Price: $0.020
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: _N/A
2017-07-21 BUY Alaris Royalty
AD-T
Michael Sprung

This had a bit of a setback over the last couple of years, but we are finally beginning to see them work out of the problems they’ve had with their partner companies. A good stock for people who are looking for steady income. One of the fears was when a number of these companies were having trouble meeting their preferred payments. They’ve made a few new investments with some new companies and have started a small-cap division. They are finally getting back on track. Dividend yield of 7.25%.


Price: $21.880
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2017-07-21 TOP PICK AGT Food & Ingredients
AGT-T
Michael Sprung

This has been an off year for them. The pulse market has been somewhat in the doldrums. The perennial problem with the fumigation issues on importing pulses into India, has surfaced again. Over time, the company has been diversifying into ingredients for human and pet consumption. They’ve recently just bought some more transportation access to a port facility. Dividend yield of 2.4%. (Analysts’ price target is $35.)


Price: $26.000
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2017-07-21 COMMENT Altagas Ltd
ALA-T
Michael Sprung

A company that is balanced between regulatory and other activities. The dividend is fairly secure at this time. Originally, they were more western based. Within the sector there are probably other quasi-utility type situations that he would look at first.


Price: $29.270
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2017-07-21 COMMENT Brookfield Asset Management (A)
BAM.A-T
Michael Sprung

An extremely well-managed company over the years. They’ve been very, very astute investors over time. It is just a question of what you pay for it. He has a very small position in this.


Price: $49.720
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2017-07-21 COMMENT BlackBerry
BB-T
Ross Healy

The company never was able to deliver on the promise that John Chen brought. If they can translate those 60 million dashboards to another 60 million self driving cars, that would be wonderful. However, there isn’t anybody out there who is taking them on. This is not an investment, it is a speculation.


Price: $12.570
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 COMMENT BCE Inc.
BCE-T
Michael Sprung

Sell Rogers (RCI.B-T) and buy Bell (BCE-T)?A really interesting question, particularly with the 1st salvo we’ve had from the trade negotiations were the US has said that they want to have greater access to our telecommunications industry. In that case, he’s not sure you want to own any of these. His preference would be with this one, but only because it is dominant within the wireless industry. Also feels it would be a little more secure in the longer-term.


Price: $58.530
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Unknown
2017-07-21 PAST TOP PICK CitiGroup
C-N
Ross Healy

(A Top Pick Aug 11/16. Up 45.6%.) He likes the US financials. Also the Fed has indicated that they want to keep on boosting interest rates up.


Price: $66.000
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-07-21 COMMENT CCL Industries (B)
CCL.B-T
Ross Healy

A problem with buying this is that it has had an enormous run from its bottom. It was trading at a big discount to its BV, and is now trading at about 4.5X BV, an astonishing run. This is a cyclical stock, long term. It is trading at about its Fair Market Value. It isn’t cheap anymore.


Price: $60.490
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 DON'T BUY CCL Industries (B)
CCL.B-T
Michael Sprung

He admires this since it became a label company. It has done tremendously well. Unfortunately, when a company does as well as they have, people tend to build in expectations of growth rates that he does not believe are sustainable for a long period of time. It looks expensive.


Price: $60.490
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2017-07-21 DON'T BUY Clorox Company
CLX-N
Ross Healy

The Fair Market Value is 41% below the current price. It is currently trading at the Price to Book of 25X. This stock is simply not investment grade anymore.


Price: $132.240
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 COMMENT Crescent Point Energy Corp
CPG-T
Ross Healy

For the past 5 years, the balance sheet has been slowly slipping away. That is because of the huge volatility of energy pricing. The whole oil stock complex is cheap on a Price to Book basis. However, when you value them on an earnings basis, they are not. Oil pricing keep slipping lower and lower. On this company, the PE is 50, and it is currently trading at a Price to Book of 50%.


Price: $9.210
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 TOP PICK Cominar Real Estate Inv Tr
CUF.UN-T
Ross Healy

Trading at 60% of its BV and has a payout that is covered. If they were to cut their dividend down to about 8%, a sustainable rate, he thinks the stock would take off. Dividend yield of 11%. (Analysts’ price target is $14.)


Price: $13.380
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-07-21 COMMENT CVS Health Corp
CVS-N
Ross Healy

Had a fairly large set back from the last year or so, and is kind of consolidating at about 2X BV. It has nice upside potential of 51%. The downside risk is to about $74, and that is where he would love to be a buyer. It has fairly easy upside to about $92. He wouldn’t worry about this one in the slightest.


Price: $77.030
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 WEAK BUY Detour Gold
DGC-T
Michael Sprung

Had a bit of the stumble about a year ago, which caused a delay in one of their mines. They seem to be getting past that now and things seem to be getting back on track. It could be a potential investment, but he wouldn’t put all his eggs in one basket.


Price: $14.010
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2017-07-21 COMMENT Dollarama Inc.
DOL-T
Ross Healy

A very expensive stock. On a Price to Book basis, it is out of sight. On a Price to Earnings ratio, it is nothing to write home about. However, this is a momentum stock which keeps on working and keeps on producing nice numbers, because it is a stock for the times. It will keep on going until it doesn’t. When it doesn’t, you had better not be there, because the downside risk is really something.


Price: $120.900
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 COMMENT Descartes
DSG-T
Michael Sprung

A lot of technology companies sell beyond multiples he looks at as a value investor. This one has always been an extremely good company. They are at the forefront of their technology. Longer-term they are in a very good place. Trading at 52X forward earnings. You have to grow a whole lot to justify those kinds of multiples.


Price: $30.790
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2017-07-21 TOP PICK Encana Corp
ECA-T
Michael Sprung

Just reported and the street was impressed. This is one of North America’s leading energy producers with a diverse portfolio of plays in 4 critical areas, that are all doing extremely well. Assets they own are among the best in North America. They’ve improved their balance sheet in the last year or 2. They have a five-year plan to increase production and cash flow. Dividend yield of 0.7%. (Analysts’ price target is $12.25.)


Price: $12.340
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2017-07-21 COMMENT Equitable Group
EQB-T
Ross Healy

There is nothing wrong with this company’s balance sheet. The overwhelming problem with the group was the issue of whether lenders, the people who bought the GICs, etc., wouldn’t freak out and panic when some of the US hedge funds started Shorting.


Price: $54.100
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 COMMENT Ford Motor
F-N
Ross Healy

A conundrum. Cheap on a PE basis, Price to Book, and even on a quality to balance sheet basis. However, what is the outlook for auto sales? He hears it is fairly bleak. Car lots are rapidly filling up with inventory, including used cars. This is different than General Motors (GM-N) which is going gangbusters in China. If you own these, you might have to wait for another auto cycle.


Price: $11.530
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 COMMENT Fairfax Financial
FFH-T
Ross Healy

This had a spectacular growth spurt, and since that time the growth has pretty much levelled out for a long time. Now it just kind of trades in a nice trading range. As time has gone on, the market has become less and less interested, as Prem Watsa has not been able to deliver the returns of the glory days. The stock price and Fair Market Value, as he measures it, are exactly the same. He is concerned that there may be a further set back.


Price: $563.000
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 COMMENT Fairfax India Holdings Corp
FIH.U-T
Michael Sprung

Prem Watsa for a long time has wanted to build a major business in India. He knows that the key success factor in building a business in India is the partners that he partners with. If anyone can do it, Prem probably can. For anyone looking at international exposure, this is probably not a bad one to take a hard look at.


Price: $17.760
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2017-07-21 TOP PICK Fortis Inc.
FTS-T
Ross Healy

Relatively cheap and trading at about 1.25X BV, which is about as low as the company gets. Not a bad dividend of 3.6% and nice upside potential of about 25% for a utility. It should be clear to about $51. (Analysts’ price target is $50.)


Price: $44.800
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-07-21 COMMENT Fortis Inc.
FTS-T
Michael Sprung

Well-managed. Made a large Texas acquisition a few years back which turned out very well. Then they bought the transmission assets. They have a good growth pattern ahead. You are buying a lot of US exposure now. He thinks they are in a good place at a good time. The stock has performed very well.


Price: $44.800
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2017-07-21 PAST TOP PICK Goldcorp Inc
G-T
Ross Healy

(A Top Pick Aug 11/16. Down 30.13.) It behooves any investor to have 8%-10% of their portfolio in gold stocks. This one is cheap on a Price to Book basis.


Price: $17.200
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-07-21 COMMENT Gilead Sciences Inc.
GILD-Q
Ross Healy

This had an enormous set back from its peak, and has got to a level that is quite attractive. Has loads and loads of upside potential. Feels the downside risk is now behind it and he likes it here. It could go a fair distance.


Price: $73.760
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 COMMENT Hydro One
H-T
Michael Sprung

This is a company where the government sets its rates, takes its cash flow. The flexibility that management has within Ontario is limited. You have to ask yourself, are you really buying equity or just buying a participation with a right to a dividend as it goes along. Making a US acquisition gives them an outlook for growth, and hopefully earn a better return on equities.


Price: $22.650
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Unknown
2017-07-21 PAST TOP PICK Hudbay Minerals Inc.
HBM-T
Michael Sprung

(A Top Pick Aug 24/16. Up 48.05%.) Fairly priced. Has a lot of good things going. A large part of their CapX program went into developing Constancia, and that is now behind them. They’ve had some good news leading to the next development of permits and feasibility studies for Rosemont. They continue to have good projects on the horizon. Well-managed. If it pulled back about 15% he would add a little more to his position.


Price: $8.400
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2017-07-21 TOP PICK Home Capital Group
HCG-T
Ross Healy

This is back to being a company and not a rank speculation like it was a couple of months ago. There is nothing wrong with the balance sheet. A bunch of American speculators drove this company into the ground. In a couple of quarters, we should start seeing a bounce back in earnings, as well as dividends. (Analysts’ price target is $17.63.)


Price: $13.310
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-07-21 PAST TOP PICK Manulife Financial
MFC-T
Michael Sprung

(A Top Pick Aug 24/16. Up 48.26%.) Good management. New CEO has a lot of Asian experience. There has been recent speculation that the company may sell off some of the less performing assets that they’ve had in the US.


Price: $25.250
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2017-07-21 COMMENT National Bank of Canada
NA-T
Michael Sprung

This usually carries a pretty good yield relative to the other banks. They’ve always been a fairly conservatively managed bank, and are certainly not as regional as they used to be. Have a fairly strong capital ratio, and sell at a fairly reasonable multiple of book. He doesn’t see the possibility for growth and expansion that he can see in their larger competitors.


Price: $56.130
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2017-07-21 COMMENT New Flyer Industries Inc.
NFI-T
Michael Sprung

This has done extremely well. Once this got to around $50, it became fairly richly valued. Recently they were pre-announcing some pretty good numbers what they expected their deliveries to be in the current quarter. Municipalities need to replace and rejuvenate bus fleets. The coach industry seems to be doing fairly well. One of the few major manufacturers left in North America.


Price: $52.150
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2017-07-21 COMMENT Nvidia Corp
NVDA-Q
Ross Healy

If you like to roll the dice, then buy some of this and cross your fingers. A story that has had at least 3 huge cycles since he has been following it. When it gets to the top, it has one of those moments when the market quits and the stock falls. His FMV is 66% lower than the current price. Typically, when these stocks correct, they not only correct back to their FMV, but below it.


Price: $168.100
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 COMMENT Parkland Fuel Corp
PKI-T
Michael Sprung

He likes this company. Extremely well-run. They just completed the acquisition of the BC assets of Chevron. Have grown very smartly through acquisitions. He doesn’t own this currently because he would sooner be paying in the low $20s rather than the high $20s.


Price: $27.830
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2017-07-21 COMMENT Potash Corp of Saskatchewan
POT-T
Michael Sprung

Thinks the time has passed to get into this. As an ex-Agrium shareholder, he was disappointed on hearing of the merger. With the merger, this is going to blend the companies, and thinks they are going to be more potash weighted. Any of the benefits of this merger are already in the 2 stocks.


Price: $22.560
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Unknown
2017-07-21 COMMENT Power Corp
POW-T
Ross Healy

This has got a nice yield and a huge upside potential from a Fair Market point of view. Trades at a beautiful discount to its BV. However, the market doesn’t seem to care. He likes the group and they are cheap.


Price: $29.890
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2017-07-21 COMMENT Rogers Communcations (B)
RCI.B-T
Michael Sprung

Sell Rogers (RCI.B-T) and buy Bell (BCE-T)?A really interesting question, particularly with the 1st salvo we’ve had from the trade negotiations were the US has said that they want to have greater access to our telecommunications industry. In that case, he’s not sure you want to own any of these. His preference would be with Bell, but only because it is dominant within the wireless industry. He feels Bell would be a little more secure in the longer-term.


Price: $65.890
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Unknown
2017-07-21 DON'T BUY RioCan Real Estate Investment
REI.UN-T
Michael Sprung

You can’t analyse this the way you used to. Dynamics of the retail industry and commercial space are changing so rapidly, that given the properties this company has, are now subject to changes that are happening within the businesses that it serves. He would not look at this one.


Price: $24.180
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Unknown
2017-07-21 TOP PICK Royal Bank
RY-T
Michael Sprung

Banks have largely been ignored in terms of their potential for throwing off free cash flow and increasing benefits to shareholders, whether through direct dividends or through international growth. Canadian banks tend to earn 15%-20% domestically on ROE, which throws off a lot of capital that has to be reinvested. It can’t all be reinvested in Canada. This bank has a large advantage there. Dividend yield of 3.9%. (Analysts’ price target is $102.)


Price: $94.750
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2017-07-21 COMMENT Sears Canada
SCC-T
Michael Sprung

At this time, this is a speculation not an investment. He wouldn’t invest money you can’t afford to lose, because there is a possibility this could go to zero. There is value within their brands, but the retail part of the company has failed. A lot of creditors are circling.


Price: $0.620
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Unknown
2017-07-21 PAST TOP PICK Suncor Energy Inc
SU-T
Michael Sprung

(A Top Pick Aug 24/16. Up 9.04%.) He considers this to be the benchmark of the Canadian industry. This is still a Buy.


Price: $38.420
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2017-07-21 PAST TOP PICK Telus Corp
T-T
Ross Healy

(A Top Pick Aug 11/16. Up 7.07%.) This is just sort of soldiering a long. It hasn’t quite got enough FMV to really propel it forward, but has enough that it is still keeping it up there. In the meantime it has a decent yield. The kind of thing you can tuck away in your portfolio and not worry about it.


Price: $45.220
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-07-21 BUY Teck Resources Ltd. (B)
TECK.B-T
Ross Healy

The fair market value is quite high, relative to the current price. If there is any change in the market towards the resource sector, this is a stock that could do quite well. He could see it going to $34.


Price: $24.420
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-21 COMMENT Teck Resources Ltd. (B)
TECK.B-T
Michael Sprung

This has done fairly well over the last couple of years. They are a much different company than they were 10 years ago, when they were largely exposed to coal and coal shipments. He sold his holdings about 6 months ago. The markets they are involved in are extremely unpredictable. Met coal is very interesting, but China is producing at record rates. This would not be his choice within the sector.


Price: $24.420
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2017-07-21 COMMENT Wheaton Precious Metals
WPM-T
Michael Sprung

He looks at a number of these royalty companies, but when it comes down to it, it is the price that they sell for. They are very good businesses, but from a “price to cash flow point” of view, they always look fairly expensive. They have to keep finding longer-term investments that hopefully won’t be delayed too long coming into fruition. This has been one of the better managed of the group. If looking for a dividend stream over a period of time, this is probably a fairly safe investment. In terms of capital appreciation though, he would be a little wary. Trading at 28X forward earnings.


Price: $25.090
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2017-07-21 COMMENT WSP Global Inc.
WSP-T
Ross Healy

This has had a fair record of peaking out at about 2X its BV, and is currently trading at about 1.6. He can give an upside to about $62 based on its current earnings, but unless there is any earnings acceleration, there is nothing absolutely beyond that, because at that point, both the FMV and the technical condition would run out of gas.


Price: $50.370
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-07-20 N/A A Comment -- General Comments From an Expert
A Commentary
Mohsin Bashir

Markets.  He sees a little bit of opportunity in the TSX.  It did spectacularly well last year and it will be hard to replicate it.  The sectors that have outperformed the most are counter intuitive – utilities and telecommunication stocks.  They tend to be bond proxies and you won’t get the relative benefit in a rising rate environment.  He has seen opportunity in alternative energy, however.  We are trading at high PE multiples but we are having earnings grow into these multiples.  These may last for quite some time until there is a rollover of the cycle.  He would prefer financial services, and businesses that are tied to services in the industrial area.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: _N/A
2017-07-20 N/A A Comment -- General Comments From an Expert
A Commentary
Hap (Robert) Sneddon FCSI

Market. Everyone is worried that valuations are a little rich. We are in the middle of the earning season right now and investors still seem to be a little undecided. The bullish sentiment has spiked up a little lately. He expects a little pause until next week’s Fed. The growth Index showed it was a little extended in 2000 because of the Dot.Com bubble. This was followed by a housing bubble in 2008. A chart like this doesn’t tell you when to get out or what to invest in. There will be a little pause next week, and then we are going to have a really, really strong bull market in industrials, base metals and energy. Defensive areas such as utilities, bonds and staples should be underweight in a portfolio. As we get later into the period, you want to start to look for repositioning a portfolio, but for now the cyclicals are firing on all cylinders. To protect yourself, make sure you have a ballast between the procyclical defences, and you use stop losses.


Price: $0.020
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: _N/A
2017-07-20 N/A A Comment -- General Comments From an Expert
A Commentary
Hap (Robert) Sneddon FCSI

Crude Oil? Chart shows this has made a little bottom. There is a seasonality that starts in the summer. The good news is, we don’t have to wait too long to figure it out. If we break $45 and move down in July, probably all bets are off, and it will probably go down to $39. In the short term, the upside will probably be $55, but there is a seasonality, so he is expecting it to push.


Price: $0.020
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: _N/A
2017-07-20 N/A A Comment -- General Comments From an Expert
A Commentary
Hap (Robert) Sneddon FCSI

Cdn$? Once we broke 130, which wasn’t that long ago, we could get to 125. Once we get there, you are sort of looking at $.80-$.81. If we have this pro-growth move he is expecting, you are probably going to see the Cdn$ waiting to participate. The caveat is that technicals say we should stop here for a little bit. However, if we get that pro-growth move, he could see it going to $.90 kind of fast, but the Gov. of the Bank of Canada is going to have a conniption.


Price: $0.020
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: _N/A
2017-07-20 TOP PICK Accenture Ltd.
ACN-N
Hap (Robert) Sneddon FCSI

Sort of quasi businesses where you would see some capital spending. They act like the market and have the same beta, but has outperformed the S&P. Chart shows a nice, brilliant trend. They are connected with pretty much every company you could see out there. (Analysts’ price target is $$133.50.)


Price: $128.540
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Yes
2017-07-20 TOP PICK AGF Management (B)
AGF.B-T
Hap (Robert) Sneddon FCSI

This sort of fits in with his pro-growth theme. Financials are part of that. This one is a bit unique. Chart shows a long downtrend, which it broke through in April. You also got a signal in June for the longer-term. They didn’t execute very well for the last number of years, and were slow to change. Pays a decent dividend. Thinks there are a lot of tailwinds for this company. (Analysts’ price target is $7.)


Price: $7.210
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Yes
2017-07-20 BUY Altagas Ltd
ALA-T
Mohsin Bashir

He has been adding to this one at these levels. He likes it because it gets painted with the same brush as other oil companies, but it is much more diversified. There is a high degree of certainty for their revenues and cash flows. There is high visibility. They are starting to amass assets in the alternative energy space.


Price: $29.640
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-07-20 COMMENT Altagas Ltd
ALA-T
Hap (Robert) Sneddon FCSI

This runs between a quasi-utility and sort of a quasi-gas company. The chart shows a really big basing pattern from 2015. They just acquired something, which makes the company a little better, but the trend has gotten a lot tighter in the last little while, which is quite positive. Gas has seasonality, which starts kicking in right now. Anything below $30 on the stock is a really good deal. Dividend yield of 7%.


Price: $29.640
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Yes
2017-07-20 HOLD Brookfield Asset Management (A)
BAM.A-T
Mohsin Bashir

It is being viewed as a REIT in many ways and being stagnated due to the rising rate environment.  Management are do a good job in terms of rates of return on invested capital.  He likes it as a long term core holding.


Price: $50.240
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 PARTIAL SELL Cott Corp
BCB-T
Hap (Robert) Sneddon FCSI

Beginning in May, he started getting rid of a lot of his defensive positions. The chart shows a little weakness in June. He would be selective in this space. If you own it, you’ve had a nice little gain and maybe you should take a little bit off the table. He doesn’t expect a full selloff. This has excellent support at around $16.50.


Price: $18.510
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 PAST TOP PICK BCE Inc.
BCE-T
Hap (Robert) Sneddon FCSI

(A Top Pick May 26/16. Up 2.52%.) Sort of lost its oomph for him after he had held it for quite a few years. Sold his holdings at around $60. Telcos tend to be on the defensive side of things, but if a good price came up, he would look at this again.


Price: $58.700
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: No
2017-07-20 BUY Berkshire Hathaway Inc. (B)
BRK.B-N
Mohsin Bashir

It has been a phoenix-like rise for the Canadian dollar recently.  Given the strength of the stock portfolio it is a pretty good purchase. 


Price: $171.330
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 SELL ON STRENGTH Baytex Energy Corp
BTE-T
Mohsin Bashir

He would not own it because he looks for risk adjusted growth opportunities.  This has been a damaged story because it is just too highly levered.  It is difficult to see oil prices high enough for them to appreciate.


Price: $3.160
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 BUY CitiGroup
C-N
Mohsin Bashir

All of the US financials stand to benefit from a rising rate environment as well as a relaxed regulatory environment. This is the one he would think is more accelerated to these new environments. You should have US banks in your portfolio.


Price: $66.360
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 BUY on WEAKNESS Cineplex Inc
CGX-T
Mohsin Bashir

He likes the fact that it is a pretty recession-proof stock.  It is a lot more than movie tickets.  They have really built up gaming.  The PE has been high for quite some time.  It is not that elevated a PE considering its resilience, however.  It is a good idea to pick away at it.  You know you will keep getting dividend increases.


Price: $49.860
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 COMMENT Clearwater Seafoods Inc.
CLR-T
Hap (Robert) Sneddon FCSI

The chart shows this is staying below the $12 mark. A lot of indicators are sort of flat. Normally, staples do reasonably well during the summer. At worst, this is going to stick around $11.05. Indicators are right around neutral, but are trying to turn up. You want to get it above the resistance of $11.40, and then you can look at the $12 to see if the troops can get enough force to push beyond that.


Price: $11.200
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 BUY on WEAKNESS Canadian National R.R.
CNR-T
Hap (Robert) Sneddon FCSI

He is looking to buy this. It has come into his model, but he needs a little bit of discretion as to when to pull the trigger. It has seen some short-term support levels at around $106, which brought in a lot more selling down to around $103. If we get the procyclical bump in the market, he would stick around with this. Expects some weakness next week. Seasonality kicks in around September.


Price: $103.220
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: No
2017-07-20 COMMENT Canadian Pacific Rail
CP-T
Hap (Robert) Sneddon FCSI

He is looking to pick up both Canadian National (CNR-T) and this one. The chart shows a long upward trend from early 2016, and has just started breaking down through the trend line. It is right at the 200-day moving average and there is a lot of resistance there. If we get the procyclical move that he is expecting, then rails should be part of that.


Price: $204.700
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 PAST TOP PICK CVS Health Corp
CVS-N
Mohsin Bashir

(Top Pick Aug 31/16, Down 15.40%) He really liked the uniqueness of the business model.  He got out.  It was unable to overcome the competitive threats.  It could benefit from a ‘Trump Bump’.


Price: $77.160
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 PAST TOP PICK Emera Inc
EMA-T
Mohsin Bashir

(Top Pick Aug 31/16, Up 2.04%) He moved on because it was one of those bond-proxy type of names.  A 4.4% dividend, but there may not be any tailwind from here.


Price: $47.270
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 BUY Alphabet Inc. (A)
GOOGL-Q
Mohsin Bashir

A good long term hold.  It is a spectacular business.  They are at the forefront in terms of using artificial intelligence and big data analytics.  They keep re-inventing themselves.  He wishes they would pay a dividend.


Price: $992.190
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 COMMENT Hudbay Minerals Inc.
HBM-T
Hap (Robert) Sneddon FCSI

He has taken a basket approach, which includes Lundin (LUN-T), Hudbay, First Quantum (FM-T) and Teck Resources (TECK.B-T). All have a similar looking chart. There is a long-term trend that is kind of breaking. In the short term, it just broke up through another little trend. The longer one will probably keep things encapsulated for a little bit, but it is positive. Has just started taking positions in this whole space. This one looks really good. It won’t have much resistance until he gets around $10.20, and then moves up to $11. If we are going to get a move in the market, all of this space is going to go. (See Top Picks.)


Price: $8.180
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 TOP PICK Jamieson Wellness
JWEL-T
Mohsin Bashir

It is the MacDonald’s of the vitamin business.  It is the number one Canadian consumer health brand.  They have more market share than their 5 biggest peers combined.  They have exposure in China.  He thinks it will be a success-IPO story like DOL-T.  It is now going to be a show-me story as they grow their top line.


Price: $17.050
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-07-20 COMMENT La-Z-Boy Inc.
LZB-N
Hap (Robert) Sneddon FCSI

Chart shows this is trying to get through its high of December. It has a great little trend underneath that. Has been pretty volatile. Indicators are sort of turning up. This could possibly come back to $28 still, which is where the long-term trend is, but he doesn’t expect that to happen. There is a good level at around $30 you could look at, or you could wait for the breakout above $33. Take a half position, because a lot of times breakouts have to come back to get retested.


Price: $32.550
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 TOP PICK MacDonald Dettwiler & Assoc.
MDA-T
Mohsin Bashir

They are trying to be more and more tilted toward the US.  They are trying to get more regulatory approvals in the US, which will be a significant catalyst.  (Analysts’ target: $83.00).


Price: $65.610
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-07-20 PAST TOP PICK MacDonald Dettwiler & Assoc.
MDA-T
Hap (Robert) Sneddon FCSI

(A Top Pick May 26/16. Down 21.15%.) Sold this soon after he had been on the show.


Price: $65.610
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: No
2017-07-20 DON'T BUY Manulife Financial
MFC-T
Mohsin Bashir

It was fairly unloved for some time and he took a position.  He bought it looking for a rising rate environment.  He started seeing technical indicators showing a resistance level about where it is now.  He decided to harvest the profits and move on to greater opportunities even though it seemed just to be forming a base.


Price: $25.310
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 WATCH New Flyer Industries Inc.
NFI-T
Mohsin Bashir

He missed the bus on this one.  It has been a beneficiary of municipalities spending more on transportation.  They are securing long term contracts south of the border.  He would need to see a 10-15% pullback before trying to get into it now.


Price: $51.340
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 PAST TOP PICK Pfizer Inc
PFE-N
Hap (Robert) Sneddon FCSI

(A Top Pick May 26/16. Up 1.19%.) This is going to have a bit more of a headwind because Viagra is coming off patent next week. This is a really good space, and it has a seasonality that kicks in, in June. There are probably stronger names than Pfizer.


Price: $33.540
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: No
2017-07-20 PAST TOP PICK Quanta Services
PWR-N
Mohsin Bashir

(Top Pick Aug 31/16, Up 16.91%) He has been accumulating more of this.  The management team has been pretty astute at picking away at assets.  There is some growth as well as the dividend.


Price: $32.750
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-07-20 WATCH Russel Metals
RUS-T
Hap (Robert) Sneddon FCSI

There is a little bit of a bid underneath this whole growth profile area, particularly in oil and gas. Numbers show that the inventory is being worked off and there are a lot more rigs coming on. Chart shows a nice trend going from the lows at the beginning of 2016. Indicators are wanting to turn up, but are sort of bouncing around not sure what to do. A stock like this is going to be sensitive to all things economic. Wait until midweek next week and see what is happening with the FMC days. Take half your full position during that time. There is going to be a little resistance around $26, followed by more resistance around $28. There is a lot of seasonality on this. It usually has a fantastic August.


Price: $25.370
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 BUY Shopify Inc.
SHOP-T
Mohsin Bashir

It has been a red hot stock.  It has been a disruptor stock.  It is more of a growth type name and does not pay a dividend.  It has some pretty interesting secular growth associated with it.  They upped their guidance for yearly revenues. They report in August.  He thinks their trend is still consistently with them.


Price: $114.280
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 COMMENT Shopify Inc.
SHOP-T
Hap (Robert) Sneddon FCSI

This has been a darling. It first hit around $130, and then peaked at around $135, but then has been rolling over. However, underneath that, it has a very nice upward trend. He wouldn’t be concerned unless it broke $110. If it breaks $110, it will probably go down and test its longer-term deep support at around $85. It is really hard to tell in the short term. You want to see it hold here, or else it is going to pull back to the breakout level.


Price: $114.280
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 WEAK BUY Stanley Works, The
SWK-N
Mohsin Bashir

It is probably a little richly valued for him, but the trend is quite good.  Industrials should do better.  You will see continued demand loosely tied to housing and infrastructure.


Price: $146.660
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 COMMENT Texas Capital Bancshares
TCBI-Q
Hap (Robert) Sneddon FCSI

This had a really good day today. It looks like there have been some kind of a fundamental announcement that spiked it up. Seasonality for this stock is really fantastic in September, October and November.


Price: $81.500
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 COMMENT Take-Two Interactive Softwar
TTWO-Q
Hap (Robert) Sneddon FCSI

Chart shows a little resistance around $80 in May and June. Some risks have been reduced at around $73-$74. A lot of indicators are starting to move up. It looks like it’s going to want to go through $80.35. Good risk/reward. Expects it will be $81-$82 pretty soon.


Price: $78.030
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 DON'T BUY Trevali Mining Corp
TV-T
Hap (Robert) Sneddon FCSI

Both Stops he uses were hit today, so something is going on. All indicators are starting to roll over. There is susceptibility to $1.06. The chart is showing sort of a Bull flag. He prefers buying a basket of the junior resource companies for a very small portion of his portfolio. It looks like it wants to find support at $1. He wouldn’t stand in the way of this right now.


Price: $1.270
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 DON'T BUY Under Armour Inc.
UAA-N
Mohsin Bashir

They were one of the disruptors of the industry, but some of that has now left them.  You would have a better risk managed opportunity in something like NKE-N. 


Price: $20.640
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 TOP PICK Visa Inc.
V-N
Mohsin Bashir

It is a technology company, a toll collector within that sector.  $17 Trillion turns over across the globe.  It is becoming more and more ‘electronicified’.  They are growing and getting more avenues of getting paid.  (Analysts’ target: $105.00).


Price: $98.110
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-07-20 TOP PICK iShares S&P/TSX Gb Base Metals
XBM-T
Hap (Robert) Sneddon FCSI

A basket of all the base metal stocks out there. They have a pretty long downtrend that starts in 2011, and it is just starting to poke its head above a shorter-term break. There are no guarantees, but if we are going to get this pro-growth move, base metals are going to be part of that. Thinks this is a double and a low risk by going to the basket.


Price: $11.590
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Yes
2017-07-19 N/A A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

Energy. It has been a tough, tough space to be in for the first 7 months of the year. It is record-setting because for the last 27 years, the energy index has never fallen for 7 sequential months in a row. He is optimistic that given the trends we are seeing in the US inventory drawdowns, the market is going to wake up to the fact that things have been improving since July of last year. Things are not as bad as you would think, and oil is heading higher in the next couple of months. Had thought that the timeframe for a change in thinking would be roughly September, but that has now been pushed back to about March 2018. There are 3 reasons for this. 1.) The biggest one is Libya and Nigeria both coming on bringing on almost a half a million barrels per day since the beginning of the year due to geopolitical situations. 2.) The dislocation between OPEC production cuts of 1.1 million barrels per day and OPEC export cuts which only fell to 400,000. That has subsequently improved. 3.) The ramp up in the US. The rig count since the beginning of the year is up almost 50%. Despite those 3 headwinds, inventories are still falling, and we are getting closer and closer to the end point. Expects oil to be over $50 in the next couple of months, $50-$60 in 2018-2019 when the bullish picture really starts to improve. He struggles to see natural gas being much above $3.


Price: $0.020
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: _N/A
2017-07-19 N/A A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

How do you value a frac sand company? One way would be by calculating the cash flow stream over the 50ish years of reserve life. A quicker and easier way is to just look at, on a forward basis, the total value of the company (debt+ market cap divided by cash flow) and relate that back to historical multiples. The US names have typically traded from 7 to 8 times, and today they are trading 3 to 4 times.


Price: $0.020
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: _N/A
2017-07-19 N/A A Comment -- General Comments From an Expert
A Commentary
Veronika Hirsch

Market. The Canadian economy is doing all right, but you look at the composition of the index and it is mostly oil, gas and banks. Then we had the Home Capital effects which spilled into the banks, and they became unloved. Oil and gas fundamentals have not been great this year. The base metals and all the other resources had a little bit of a lift in the last little while, but it has also been going down in the first 6 months of the year. Banks will probably do okay, but it pretty much depends on what oil and gas does. Everybody is looking for a rally in oil and gas, but no one knows how long it will last or how good it will be.


Price: $0.020
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: _N/A
2017-07-19 COMMENT A Comment -- General Comments From an Expert
A Commentary
Veronika Hirsch

Cannabis? She hasn’t done enough work to recommend one name over another. Every day there is a new name that comes up on her screen, and it is getting to be a crowded space. In the long run, whatever the politics, etc., her experience is that the front runner and the consolidator will be the name to own. It’s a little early to tell at this time.


Price: $0.020
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: No
2017-07-19 DON'T BUY AGT Food & Ingredients
AGT-T
Veronika Hirsch

(Market Call Minute.) She would avoid this.


Price: $25.360
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Unknown
2017-07-19 COMMENT Athabaska Oil Sands Corp
ATH-T
Eric Nuttall

If you want to be in Canada, and want a very small cap and uber leverage to the oil price, this is a pretty good pick. They did a royalty deal on their oil sands project, which was nothing short of genius. Payments don’t start until oil exceed something like $70-$75. Their total cash/cost break-evens are around $44. If you are a believer in $65-$70 oil, this stock could really, really work. If you are a believer that we are stuck in a $50-$60 range for the next year, there are better areas to be in.


Price: $0.910
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: Unknown
2017-07-19 PAST TOP PICK A&W Revenue Royalties Income Fund
AW.UN-T
Veronika Hirsch

(A Top Pick July 20/16. Down 0.09%.) It went up, and she took her profits. In their last earnings report, same-store sales have actually been negative, and they had been reporting double digit growth. If they return to positive same store sales, she will be a buyer again. Dividend yield of 4.8%.


Price: $32.200
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 DON'T BUY Blackbird Energy Inc
BBI-X
Eric Nuttall

Too small and there is too much uncertainty around the prospectivity of their acreage as well as their competitive edge in completion technology, which he thinks they have a 10% interest in.


Price: $0.365
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 TOP PICK Brookfield Infrastucture Partners
BIP.UN-T
Veronika Hirsch

Infrastructure is the buzzword of every western government on the planet. What happens when they financed new infrastructure, they have to sell something. Nobody has a budget for new infrastructure. That is when this company comes in. They are capable of joint venturing with someone and can buy fairly chunky assets. Dividend yield of 4.7%. (Analysts’ price target is $42.)


Price: $50.160
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 PAST TOP PICK Birchcliff Energy Ltd.
BIR-T
Eric Nuttall

(A Top Pick July 29/16. Down 32.42%.) Management has always been underappreciated. They’ve done a really good job in building an asset base, and most importantly, paying down debt. Have a fairly good 5-year growth plan.


Price: $6.370
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 DON'T BUY Baytex Energy Corp
BTE-T
Eric Nuttall

There is absolutely no reason to own this right now. They’ve too much debt, and lack the ability to meaningfully pay it down. This was a result of their entry into the Eagle Ford. When comparing what they look like in terms of growth rate relative to valuation, in Canada the average intermediate oil company is expected to grow next year by about 15%, with an average multiple of 5.2X EV to future cash flow. This company is expected to grow by 1% and is trading at 5.7X.


Price: $3.240
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 BUY Boyd Group Income Fund
BYD.UN-T
Veronika Hirsch

She would be comfortable putting new money to work at these levels. She keeps buying this until something goes wrong, and there hasn’t been anything that has gone wrong. The last quarter was a little weak, but was really nothing to do with anything but the weather, which was too good. They have a lot of acquisition opportunities.


Price: $95.000
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 COMMENT Cameco Corporation
CCO-T
Veronika Hirsch

If you want to own uranium, you own this stock because it is the pure play and the best play in the world for uranium. She doesn’t see demand coming back. The Japan story has been problematic. Every time there is a new plant supposed to be started, locals get involved and it gets killed. Also, periodically there are countries talking about switching out of uranium. She doesn’t see a robust demand for uranium.


Price: $12.620
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Unknown
2017-07-19 COMMENT Calfrac Well Services Ltd
CFW-T
Eric Nuttall

This operates in Russia, Argentina, US and Canada. Fracing demand, in both Canada and the US, exceeds available supply. As pricing has been going up, this has been a beneficiary. What keeps him from investing in this is their balance sheet. They simply have too much debt, and it removes their strategic flexibility.


Price: $3.150
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 PAST TOP PICK Cardinal Energy Ltd
CJ-T
Eric Nuttall

(A Top Pick July 29/16. Down 42.97%.) If you believe in $55 oil, $9 would be a very reasonable price for the stock. The company just did an acquisition which was not very well received. Selling at really cheap levels.


Price: $4.910
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 COMMENT Canadian Imperial Bank of Commerce
CM-T
Veronika Hirsch

This is early days and we don’t know how their US acquisition is going to work out. It has the largest proportion of assets in mortgages, which might be a negative going into a recession if we have a real estate correction.


Price: $108.930
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Unknown
2017-07-19 TOP PICK Computer Modelling Group Ltd
CMG-T
Veronika Hirsch

They recently had a joint venture with Baker-Hughes (BHGE-N), where Baker Hughes is co-marketing one of their products. It would make sense for Baker Hughes to take over this company. Schlumberger (SLB-N) is the only company with a competing product. (Analysts’ price target is $9.50.)


Price: $9.620
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 HOLD Canadian Natural Rsrcs
CNQ-T
Veronika Hirsch

(Market Call Minute.) This is a hold.


Price: $38.390
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Unknown
2017-07-19 SELL Crescent Point Energy Corp
CPG-T
Eric Nuttall

If you own this, he would Sell it. Get your tax loss and move on to another name which has more upside. Management has clearly struggled for a couple of years to regain investor confidence after several stock issuances, that came with mixed messaging. There is just too much history to see this one outperform.


Price: $9.830
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 WAIT Cenovus Energy
CVE-T
Veronika Hirsch

They made an acquisition, and everybody thought they overpaid. Now they have a balance sheet problem, so before you get involved, wait to see what they dispose of and how much they get for it. She wouldn’t rush into this until they fix the balance sheet a little.


Price: $9.660
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: No
2017-07-19 PAST TOP PICK DHX Media
DHX.B-T
Eric Nuttall

(A Top Pick July 29/16. Down 14.92%.) He liked this for the growth prospects of Teletubbies. It got pretty good traction in the UK, but the US was pretty disappointing and that’s when he sold the stock.


Price: $5.920
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 BUY Dollarama Inc.
DOL-T
Veronika Hirsch

This stock has been amazing. It is well-managed and they hedge their currency, they basically do everything right. Introduced credit cards recently, so there will be some cost benefits going forward. There is always something good happening at this company.


Price: $122.380
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 TOP PICK Descartes
DSG-T
Veronika Hirsch

This is a growth stock, and is a beneficiary of what is happening with delivery. It is a logistics company, and the more delivery there is of anything, then this company is a beneficiary. Also, it is a growth by acquisition story and interest rates are great for them. (Analysts’ price target is $36.29.)


Price: $31.020
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 HOLD Enbridge
ENB-T
Veronika Hirsch

(Market Call Minute.)


Price: $52.350
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Unknown
2017-07-19 COMMENT Fairmount Santrol Holdings Inc.
FMSA-N
Eric Nuttall

Frac sand. Sees a very, very bullish underlying thesis, combined with a market that just isn’t seeing it, so stocks have sold off by 40%-70%. Of the frac sand companies, this one sold off the most because 1) they have more financial debt than the others and 2) there is a growing narrative that there will be growth in supply in Texas. As 75% of the cost of sand is transportation, there is a fear that supply growth in Texas will displace those deposits that are further away. He feels demand growth will exceed supply growth, so the market will remain tight. (See Top Picks.)


Price: $3.870
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: Yes
2017-07-19 BUY Franco-Nevada Corp.
FNV-T
Veronika Hirsch

(Market Call Minute.) The best gold stock out there.


Price: $92.330
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Unknown
2017-07-19 HOLD Freshii Inc
FRII-T
Veronika Hirsch

She doesn’t like the food, but you see them expanding everywhere. Apparently the millennial’s love it. She is giving it another couple of quarters to see what happens before she makes up her mind.


Price: $10.790
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 COMMENT Lundin Mining Corp.
LUN-T
Veronika Hirsch

She loves this stock. One of her favourites in this sector. In the past 6 months, most of the mining stocks have got crushed. They sold a mine, and are now sitting on a bunch of cash. Management is fairly savvy, so she would expect them to buy something accretive.


Price: $8.110
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 PAST TOP PICK MacDonald Dettwiler & Assoc.
MDA-T
Veronika Hirsch

(A Top Pick July 20/16. Down 20.2%.) They were converting themselves into a US based company that was eligible to bid on US contracts. In the meantime, they made an acquisition which has been hanging over the stock. A vote is today or tomorrow. She sold when she saw better opportunities elsewhere.


Price: $66.000
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: No
2017-07-19 COMMENT Magna Int'l. (A)
MG-T
Veronika Hirsch

This is a stock that is in the late stage cycle, and generally you don’t own consumer stocks. Industrial products is probably where you want to be. One of the fears is that a lot of car loans are going to go bad in this cycle. Some of the loans go 6-7 years, and by that time, the car is not worth anything. Last quarter, the margins looked a little healthier in Europe. A great company, but it’s just the wrong stage of the cycle.


Price: $60.900
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: No
2017-07-19 BUY New Flyer Industries Inc.
NFI-T
Veronika Hirsch

She is a huge fan of growth by acquisition companies, and this one is a perfect example. They’ve been a consolidator of the bus manufacturing industry. A very, very good management team. They’ve been very successfully integrating businesses. Profitability is great. Trading at about 17X forward earnings, so she doesn’t think of it as expensive. If they were to make another acquisition, she thinks the stock would pop.


Price: $52.040
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 HOLD Northland Power Inc
NPI-T
Veronika Hirsch

(Market Call Minute.)


Price: $23.430
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Unknown
2017-07-19 COMMENT Oasis Petroleum Inc.
OAS-N
Eric Nuttall

A fine company, but not one of his favourite US producers. It has a little more debt than the average company on consensus for next year, which would be higher than strip oil prices. Debt would be about 2.6X, while the average in the Permian is 1.2X. Well results have been improving steadily over the past couple of years, as they have been using more frac sand with better results. He has been warming up to the name.


Price: $8.180
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
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