stockchase picture

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

Recent Opinions

Print
Date Signal Company Expert Opinion Price
2015-01-29 N/A A Comment -- General Comments From an Expert
A Commentary
Ben Cheng

Markets.  We are at an interesting point in economic history.  The reality is that we have not had a point where the European, Japanese, Chinese and Bank of Canada are working together to add liquidity.  In the long term this could contain some dangers.  It is an inflationary phase that we won’t see until 2016.  The next part of the equation is currency exchange.  That will be more powerful than more people think.  Now that we have a foreign exchange structure that is seeing the US dollar move dramatically against all other currencies, it will change things dramatically in 12 months or so. 


Price: $0.020
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: _N/A
2015-01-29 N/A A Comment -- General Comments From an Expert
A Commentary
Ben Cheng

REITs are pushing forward as much of the refinancing as they can.  The lower interest rates are a benefit and then they want to lock them in for as long as possible. 


Price: $0.020
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 PAST TOP PICK A Comment -- General Comments From an Expert
A Commentary
Ben Cheng

Air Canada Bonds 7.625% maturing 2019 (Top Pick Feb 28/14, Up 14.75% Total Return) The slow down in Western Canada could moderate air travel for a few years.


Price: $0.020
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Yes
2015-01-29 N/A A Comment -- General Comments From an Expert
A Commentary
Ben Cheng

REIT rules in Canada.  He would love to see more flexibility.  Changes in 2006 involved rules that were too draconian.  He doesn’t see rule changes in the US coming to Canada.


Price: $0.020
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: _N/A
2015-01-29 N/A A Comment -- General Comments From an Expert
A Commentary
Paul Harris, CFA

Markets.  Thinks interest rates will be lower, longer than people think.  The Bank of Canada is worried about a slower Canadian Economy.  We are in the phase where the oil price drop is now affecting other areas of the market.  Oil is very little of the US economy compared to Canada.  The world has not changed that much.  Earnings came out from a lot of companies and all they said was that the dollar was affecting them.  Yet commodities have collapsed.  China may be slowing down faster than people think.


Price: $0.020
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: _N/A
2015-01-29 COMMENT A Comment -- General Comments From an Expert
A Commentary
Paul Harris, CFA

Is it time to get out of Canada?  Nobody really knows where oil is going.  He feels oil can still go lower as there is still excess supply.  The other problem with oil is that it can be stored and eventually storage could get filled up.  It has to settle somewhere.  It will probably go up higher over a period of time.  There will be a point over the next period of time when it is a great time to buy great oil companies [Canadian].


Price: $0.020
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: _N/A
2015-01-29 DON'T BUY AutoCanada Inc.
ACQ-T
Ben Cheng

A wonderful operator.  The reality is that the dealerships are centered in Western Canada.  It will be tough for them to just maintain sales. 


Price: $34.770
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 TOP PICK Allied Properties REIT
AP.UN-T
Ben Cheng

(Top Pick Feb 28/14, Up 24.60%) Has a very disciplined organic growth pattern.  He continues to hold and it is a large position.  This is a well run investment trust.  It is a development, acquisition and urban intensification story.


Price: $40.370
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Yes
2015-01-29 TOP PICK Bank of America
BAC-N
Paul Harris, CFA

It has come off a fair bit as have a lot of the US banks.  You have a really good chance to get a great company really cheap.


Price: $15.430
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Yes
2015-01-29 TOP PICK Brookfield Asset Management (A)
BAM.A-T
Ben Cheng

This is where all their top managers own their equity in the portfolio.


Price: $65.180
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Yes
2015-01-29 DON'T BUY BlackBerry
BB-T
Paul Harris, CFA

It is hard to see where it will go from here.  It is a difficult environment.  He thinks it would work better if Amazon bought them out.  He is not sure BB-T will be around in a year.


Price: $12.920
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: No
2015-01-29 DON'T BUY Bombardier Inc (B)
BBD.B-T
Paul Harris, CFA

Has done poorly and it is a tough business.  He has never owned it.


Price: $2.930
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: No
2015-01-29 PARTIAL SELL BCE Inc.
BCE-T
Ben Cheng

Telecoms in Canada have valuations that are between 6 and 8.5 times cash flow.  This one is at the high end of this scale.  This at the expensive end of the range.  You should trim when you get to this point.


Price: $58.310
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 BUY Brookfield Property Partners
BPY.UN-T
Ben Cheng

They won their battle to own the Canary Warf project.  The UK economy is actually doing quite well.  It should be very accretive.


Price: $30.550
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Yes
2015-01-29 HOLD Cineplex Inc
CGX-T
Paul Harris, CFA

He sold it because it got a little bit too expensive.  It has a decent yield of about 4%.  It technically has a monopoly.  They have done a very good job.  But their business is driven by blockbusters.  There are some really big-brand things coming out and that should cause them to full up.  It is about driving concessions and other parts of the business that do well.


Price: $45.720
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: No
2015-01-29 DON'T BUY CI Financial Corp
CIX-T
Paul Harris, CFA

A lot of people are moving to the ETF market.  The mutual fund industry is not growing quickly.  The mutual fund industry has to bring their cost structure down.  It can survive and at some time there could be more acquisitions.


Price: $32.800
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 COMMENT Canadian Imperial Bank of Commerce
CM-T
Paul Harris, CFA

They are cutting some 500 jobs.  There is pressure on them to be more cost effective.  But they say they will hire 5000 more in the next year.


Price: $91.370
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 WAIT Crescent Point Energy Corp
CPG-T
Ben Cheng

It has done very well in the last 30 days, outperforming many of the old ex-income trusts in the energy sector.  They will continue to pull back cap-x.  When oil prices go over $65 you will see more invigorated growth.


Price: $28.830
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 WEAK BUY Chartwell Seniors Housing
CSH.UN-T
Ben Cheng

There is some economic sensitivity because the rooms are expensive and in tougher economic times the vacancy rates might go up a bit.  However, they seem to improve their occupancy quarter after quarter.


Price: $12.720
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 TOP PICK CubeSmart
CUBE-N
Ben Cheng

Very good operators.  They have made acquisitions over the last 5 years and the stock price shows they are good at integrating them in.  The price is not too rich here.


Price: $25.260
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Yes
2015-01-29 DON'T BUY Dream Office REIT
D.UN-T
Ben Cheng

Has western Canada exposure.  Office leases are done normally with investment grade blue chip companies so there is really is little risk of the leases being broken.  Their stock no longer trades at a premium.  Acquisition growth is predominantly off the table.  They have to prove to the market that they are good operators. 


Price: $27.330
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: No
2015-01-29 BUY Diageo PLC
DEO-N
Paul Harris, CFA

They are a global company, around 21 times earnings and a great dividend.  They had issues where they spent too much on marketing.  The volume of spirits does not move up. People move from clear to premium spirits.  He thinks they will do more bolt-on acquisitions in local markets.  It is a great growth business that is consolidating. It is a well managed company and will continue to do well.


Price: $121.940
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: No
2015-01-29 BUY Dollarama Inc.
DOL-T
Paul Harris, CFA

They are very good at their organic growth.  They are defensive and cyclical at the same time.  People still shop there when things are improving.  One of the issues is that they source a lot of their product from the US so the currency issue may affect them.


Price: $59.950
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 SELL Dr. Pepper Snapple Group
DPS-N
Paul Harris, CFA

They have effectively used their capital structure well and increased free cash flow.  His issues are that the whole sugary drink area is under pressure as it is adding to the diabetes problem and a lot of the cost structure taken out has finished and so you need them to grow the top line.  They are getting a lot of price competition from Coke and Pepsi.  They are not as international as the other two so there is some room for growth there.  He would suggest, however that it is time to get out.


Price: $79.080
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: No
2015-01-29 BUY Enbridge Income Fund Holdings
ENF-T
Ben Cheng

They have 15 billion worth of secured contracts coming through their pipe over the next 5 years.  Potential dividend increases for 5 years could be 10% per year. 


Price: $40.290
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 HOLD First Capital Realty
FCR-T
Ben Cheng

A good operator, but a lot of these look relatively cheaply compared to US counterparts.


Price: $19.570
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 BUY H&R Real Estate Inv Trust
HR.UN-T
Ben Cheng

They have diversified.  Their tenants can withstand the weak oil prices of today. 


Price: $24.830
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 DON'T BUY HSBC Holdings P L C
HSBC-N
Paul Harris, CFA

The issue is that they are a large international bank with a large presence in Asia.  Their acquisition of Household Finance was a disaster.  They are not making changes as fast as BCS-N.  HSBC-N has gotten lost in their strategy somewhere, so he would prefer BCS-N.


Price: $46.680
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: No
2015-01-29 BUY on WEAKNESS Johnson & Johnson
JNJ-N
Paul Harris, CFA

It is a great company, not expensive.  As things come off in one business another picks up.  There are devices, pharmaceutical and consumer products.  Thinks they will continue to make small acquisitions.  You can hold this for the long, long term.  He would buy more on a pullback.


Price: $102.380
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: No
2015-01-29 BUY JP Morgan Chase & Co
JPM-N
Paul Harris, CFA

A great company.  He thinks it is not expensive, 9 times earnings, around book value and has a decent dividend yield.  The net interest margin has been hurt over the last little while.  It has also been hurt by some fixed income business.  They did well on equities and M & A.  You are not paying a lot and the US economy is doing better, so it should help JPM-N.  It is a very large asset management bank as well as having a credit card business.  There are a lot of issues with regulation.  But he thinks they are good value here.


Price: $55.670
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Yes
2015-01-29 PAST TOP PICK Leon's Furniture
LNF-T
Paul Harris, CFA

(Top Pick Jan 20/14, Up 37.08%) Management owns a very large percentage of the stock.  LNF-T owns the properties under the stores.  He sold some off because it ran up so far and would buy it back on a dip.


Price: $19.000
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: No
2015-01-29 PAST TOP PICK Mainstreet Equity Corp
MEQ-T
Paul Harris, CFA

(Top Pick Jan 20/14, Down 6.84%) It went down with the oil price drop because they are in Alberta.  He continues to like it.  They made some very good purchases over the last little while in BC.  Likes management.  They are very cost effective.  Perhaps they can make some acquisitions when things are cheaper.


Price: $33.360
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: No
2015-01-29 DON'T BUY Manulife Financial
MFC-T
Paul Harris, CFA

He has an issue with the low interest rate environment and insurance companies.  But they have brought their leverage down and that has helped them.  They would like to do acquisitions, but the big ones are few and far between.  They can grow their ROE, but you need to still see less leverage on their balance sheet.  He prefers SLF-T where they have the asset management business.


Price: $20.570
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: No
2015-01-29 BUY Altria Group Inc
MO-N
Paul Harris, CFA

Cigarette company that is the domestic business of PM-N, but MO-N has not done as well.  They have a ton of free cash flow and pay a good dividend.  They could continue to do well. 


Price: $54.390
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 TOP PICK Microsoft
MSFT-Q
Paul Harris, CFA

Earnings came out and the stock came down.  Windows 10 is coming out.  3% dividend yield and 15 times earnings after you take out the cash.  The Surface continues to be a big hit for them.  MSFT-Q is the thing you want to own in a difficult environment.  They have no debt.


Price: $42.010
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Yes
2015-01-29 BUY National Bank of Canada
NA-T
Ben Cheng

Likes it.  All the banks have some exposure in Western Canada.  Some investors have taken this down relative to other banks. 


Price: $45.550
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 DON'T BUY Northwest Healthcare Property REIT
NWH.UN-T
Ben Cheng

Canadian REITs have not kept up with their US counterparts.  This one has substantially underperformed.  There is a perception by the market that they will get hurt because they are centered in Alberta and North West BC.  You should consider REITs without that overhang.  REIT values here are relatively cheap.  The spreads today are about 560 basis points so they are on the cheaper end of the range.  REITs should be trading higher this year.


Price: $9.260
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 TOP PICK Qualcomm
QCOM-Q
Paul Harris, CFA

Earnings the other day were okay, but they warned about the second half of the year.  They had this issue with royalties in China which they have sorted out.  They are in the sweet spot of the cell phone business.  There were little bumps in the road that hurt the share price so this is why you should buy it now.  They are buying back shares and have a nice dividend yield that they will increase.


Price: $63.690
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Yes
2015-01-29 DON'T BUY Royal Dutch Shell PLC (A)
RDS.A-N
Paul Harris, CFA

The price of oil affects all these companies.  Being a super major in this environment helps them.  Small and mid cap stocks get hurt a lot more.  RDS.A-N’s management has not been consistent.  He is not sure if it is the best company if the price of oil turns around.  It is hard to grow something like this.  The currency has a huge impact on the story right now.  Prefers Canadian companies like SU-T and CNQ-T.


Price: $62.310
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 HOLD RioCan Real Estate Investment
REI.UN-T
Ben Cheng

There has been some negative press in recent weeks surrounding the closing of the Target stores here in Canada.  Just under 4% of their retail mall space is taken up by Target, so it is a real worry, but the reality is that they have very good quality real estate and management is focused on leasing up that space.


Price: $29.760
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Yes
2015-01-29 PAST TOP PICK Regions Financial
RF-N
Paul Harris, CFA

(Top Pick Jan 20/14, Down 14.82%) South East US regional bank.  He likes the area and it continues to grow.  There is not a lot of unionization there and the housing market is turning around.  It does not have investment banking business.  He thinks you will see increasing dividends.


Price: $8.850
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Yes
2015-01-29 DON'T BUY Retrocom Mid-Market REIT
RMM.UN-T
Ben Cheng

A good portion of the distribution is a return of capital.  It is a haphazard set of assets.  The management team has made the REIT much better than it was 5 years ago.  But it will be hard for them to right size their balance sheet.


Price: $4.040
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 BUY on WEAKNESS Starbucks
SBUX-Q
Paul Harris, CFA

Wait for a pullback to buy it.  They did a great job of turning around the company.  It is a great brand and well known.


Price: $89.050
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Unknown
2015-01-29 HOLD Suncor Energy Inc
SU-T
Ben Cheng

Balance sheet is set up to withstand the low prices we have here.  They have on-going capital expenditures to maintain production. 


Price: $36.440
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Yes
2015-01-29 PAST TOP PICK Tricon Capital Group
TCN-T
Ben Cheng

(Top Pick Feb 28/14, Up 23.31%) Smart management.  They started buying single family homes in the US south when they were cheap.  He sold recently to take profits.


Price: $9.530
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: No
2015-01-29 BUY Toronto Dominion
TD-T
Paul Harris, CFA

He loves it and has owned it for a long time.  Canadian banks are pretty cheap these days.  They had a nice pullback and you can buy a great franchise in Canada at a really good multiple.  This is a company that has developed a brand name in the US that no one has been able to accomplish over the years.


Price: $51.640
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Yes
2015-01-29 BUY Westport Innovations
WPT-T
Ben Cheng

Has done very well since inception.  Has benefited from the drop in our currency.  You are benefiting from the resurgence in manufacturing in the US.  They should change their focus to move toward the distribution center model.  This is due to the amount of online shopping.


Price: $4.340
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Yes
2015-01-29 BUY iShares S&P/TSX Capped REIT
XRE-T
Ben Cheng

A good way to go.  A great way to stay diversified within the REIT sector.  It is equal weight. 


Price: $17.610
Subject: REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias: CAUTIOUS
Owned: Unknown
2015-01-28 N/A A Comment -- General Comments From an Expert
A Commentary
Fabrice Taylor

Markets. We are in the late innings of this bull market in Canada. Bull markets don’t last very long. You never know when they are going to end, but it kind of feels tired to him. Earnings are not impressing people. Consumers are tapped out. Growth is weak. The US looks a little better, but it is not that strong either. He is 50% cash right now. The best time to invest in stocks is after they’ve corrected. We saw that in March 2009. Anything you buy goes up pretty much, and that is when you want to be fully deployed. He is still buying, but is more selective. His 2 favourite types of investments are turnaround stories and small high growth/high risk opportunities. That is where he has done the best. He tends to avoid resources because he doesn’t like the unpredictability of the resource price. Prefers betting on really intelligent, motivated entrepreneurs, which he finds pays off the most.


Price: $0.020
Subject: NORTH AMERICAN
Bias: CAUTIOUS
Owned: _N/A
2015-01-28 DON'T BUY A Comment -- General Comments From an Expert
A Commentary
Fabrice Taylor

Graphene. A form of graphite, one atom thick, and has an amazing potential if anyone can find a way to produce it economically. Some companies do produce it, but it is very expensive and not very reliable. Doesn’t think anybody has nailed it down yet. If it works out, it will change our world, because it has so many amazing properties. For now it is very early stage. It is very, very risky as there are no guarantees a company will ever be able to produce it.


Price: $0.020
Subject: NORTH AMERICAN
Bias: CAUTIOUS
Owned: No
2015-01-28 COMMENT A Comment -- General Comments From an Expert
A Commentary
Fabrice Taylor

3-D printing. Pretty fascinating and if they can ever get it to work properly, it will solve a lot of problems. Brilliant future if they can figure out how to make it work. Loves the space and the concept, but just doesn’t know if it is investable.


Price: $0.020
Subject: NORTH AMERICAN
Bias: CAUTIOUS
Owned: No
2015-01-28 N/A A Comment -- General Comments From an Expert
A Commentary
Fabrice Taylor

The effect of baby boomers retiring and depending on, or selling their investments for monthly income? Expects you will see low interest rates for a long time. As people get older they want to buy bonds or fixed income. That will increase demand, and therefore lower yield. Dividend paying stocks should do very well and will have a lot of buyers. There are a lot of great little private businesses that are run by smart entrepreneurs that work hard. These are probably baby boomers and possibly getting tired, so there are a lot of businesses for sale. Rollups benefit from this. This is an interesting trend.


Price: $0.020
Subject: NORTH AMERICAN
Bias: CAUTIOUS
Owned: _N/A
2015-01-28 N/A A Comment -- General Comments From an Expert
A Commentary
John O'Connell, CFA

Economy. The biggest overriding macro question and trend right now is what Central Banks are doing in these currency wars. We have had 1.5 years where everything calmed down, and now all of a sudden Europe is popping up. You have negative interest rates in Switzerland and Germany as well as Japan. Those are really unusual situations. You have a major dysfunction and dislocation in Europe, both politically and economically. There is huge unemployment. There is a situation where all of these countries are trying to devalue currencies. It is very much like the depression era where people were trying to “beggar thy neighbour”. The strong US$ with Euro falling recently, is putting real pressure on. People are waking up to the fact that earnings growth is going to be a little bit slower and potentially quite a bit slower than what they had originally anticipated. With some of the earnings that are being announced, we are seeing pretty big headwinds. The US$ seems set to move higher mostly against the euro, and because the European authorities really want their currency to move lower. Federal Reserve Board hasn’t done anything to alleviate the concern, and will probably begin to raise interest rates. He thinks money is going to continue to flow into US$ investments.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: _N/A
2015-01-28 N/A A Comment -- General Comments From an Expert
A Commentary
John O'Connell, CFA

Markets. 2 years ago he and a lot of others were saying to get out of Canada and buy US. The concerning issue right now is that for a year now everybody has been saying that the domestic economy is much stronger than the international economy, so a lot of people are focusing on those domestically oriented names. Because everybody is focusing on that, it becomes increasingly difficult to be finding real cheap value. These low energy prices are really starting to bite with job layoffs. As long as you pick good quality companies, and if you are patient, you are going to see some good value come to it.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: _N/A
2015-01-28 N/A A Comment -- General Comments From an Expert
A Commentary
John O'Connell, CFA

How did you generate 9% in your cash holdings? Had made a conscious decision to pull his profits and money out of the Canadian equity landscape last year, and move it into US dollars. The Cdn$ depreciated by about 9%.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: _N/A
2015-01-28 COMMENT Air Canada (B)
AC-T
Fabrice Taylor

Likes turnaround stories. Had participated in this and did very well, but is out of it now. Thinks there is still probably more upside on the stock, but if you own, you might want to consider taking some profits. Their Rouge division should do quite well.


Price: $11.730
Subject: NORTH AMERICAN
Bias: CAUTIOUS
Owned: No
2015-01-28 DON'T BUY AGF Management (B)
AGF.B-T
John O'Connell, CFA

Not in complete financial distress, but have spent their cash reserves buying back stock over time. Their performance in the mutual fund business has been challenged and they have been losing assets. The revenue base has been going down, which impinges on their ability to pay out financing, so have been building up a little debt. They are going to be challenged because there are new regulations coming, where investment advisors are going to have to disclose all the fees that customers are paying. People are going to start to see how much money they pay into mutual funds. This will put pressure on sales or on fees. Either would be a negative for the company.


Price: $7.120
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: Unknown
2015-01-28 COMMENT Alabama Graphite Corp
ALP-X
Fabrice Taylor

A very small resource play. A graphite deposit in Alabama. In a great jurisdiction, low cost, good weather and easy to get permitting there. Demand should grow with the increasing use of car batteries. Tesla is building a big battery plant in Nevada and will need graphite. Early stages. Highly speculative. If it works out, it has some serious upside. However, there is a lot of risk.


Price: $0.150
Subject: NORTH AMERICAN
Bias: CAUTIOUS
Owned: Yes
2015-01-28 COMMENT American Express
AXP-N
Fabrice Taylor

Thinks we are in the late stages in the market, and he is not sure that you want to own any large caps trading at 14X earnings with a pretty small dividend yield. He would be very cautious on this. These things can go down a lot in a correction. Yield of 1.25% and he would stick with the companies that have a better dividend.


Price: $81.730
Subject: NORTH AMERICAN
Bias: CAUTIOUS
Owned: No
2015-01-28 COMMENT Bank of America
BAC-N
John O'Connell, CFA

US banks in general have been struggling under a lot of different things, such as regulatory penalties and increased costs. They just don’t seem to be able to get past getting sued by the government for one thing or another. Thinks the problem is going to become more and more acute.


Price: $15.200
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: Unknown
Showing 1 to 60 of 136,534 entries
First Previous 1 2 3 4 5 Next Last