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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
2015-09-03 BUY A Comment -- General Comments From an Expert
A Commentary
Barry Schwartz

Canadian banks. Which one? Banks are incredibly cheap in Canada and earning a great return on capital right now. A lot of them raised their dividend. Oil/gas exposure is not a problem. The housing market is not an issue and their mortgages are guaranteed by CMHC in any case. He likes Toronto Dominion (TD-T), National (NA-T), Bank of Nova Scotia (BNS-T) and Royal (RY-T). He would pick one or 2 of these names and hold them for the long-term.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 TOP PICK Apple
AAPL-Q
Colin Stewart

A good example of a really well-run business. Sold off with the market. This is a great company with an amazing brand loyalty. Trading at 8X earnings after backing out the cash. This company is going to do just fine, regardless of what happens in China. Dividend yield of 1.87%.


Price: $110.370
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 BUY American International Group
AIG-N
Barry Schwartz

What they have earned over the past year has been tremendous. They have a triple whammy. They are buying back stock, reducing debt and increasing dividends. Insurance is a black box and very hard to figure out, but with this black box he knows that the NAV is $75-$80 a share. With the stock price at only $60, he is going to continue to buy until it is trading well above BV.


Price: $59.450
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 TOP PICK Brookfield Asset Management (A)
BAM.A-T
Barry Schwartz

This is access to low-cost leverage and generating lots of fees by getting into distressed assets and setting up limited partnerships funds. They not only own great assets, but also makes money managing portfolios and getting fees. Thinks the NAV is in the $50 range, so trading at a pretty decent discount. Dividend yield of 1.53%.


Price: $41.480
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 COMMENT BCE Inc.
BCE-T
Colin Stewart

Didn’t seem to get hit very much during the downturn. If you are worried about volatility and timing, it is a nice place to hide. Not very economically sensitive. Safe dividend of 4.86% currently.


Price: $53.850
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 BUY Progressive Waste Solutions Inc
BIN-T
Barry Schwartz

Continues to make acquisitions and has become the 3rd largest waste management company in North America. He believes there is still room for growth. The waste management business is very fragmented in North America. The company generates a lot of free cash flow and have done a great job of improving operations. In a defensive market, this is the type of company you want to own.


Price: $35.790
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 TOP PICK Berkshire Hathaway Inc. (B)
BRK.B-N
Barry Schwartz

In his opinion, this has fallen to the lowest price book level since the financial crisis. They continue to grow their BV. Once the Kraft-Heintz deal closes, that is going to add earnings power. He likes the safety and security of owning good quality companies within their holdings. Also, has a giant equity portfolio. He could easily envision this stock getting back to the $150-$160 level.


Price: $132.150
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 COMMENT Carnival Corp.
CCL-N
Colin Stewart

Clearly benefiting from weaker oil prices. A global company, so would have exposure to consumer demand on a global basis. The strong US consumer helps them. Feels the outlook is relatively strong for the whole industry.


Price: $49.400
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 COMMENT CCL Industries (B)
CCL.B-T
Barry Schwartz

If you have done your research and you think it is a good quality company and that the runway of growth is going to continue, then you want to buy the stock. Pick a valuation where you are comfortable owning it.


Price: $178.110
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 TOP PICK Cargojet Inc
CJT-T
Colin Stewart

They are dominant in their industry with about 90% market share in the overnight cargo industry in Canada. They are a real beneficiary of e-commerce as more and more people ordered things online. Have long-term contracts with their clients with a lot of them being take-or-pay, so there is a minimum guaranteed amount of volume. Dividend yield of 2.82%.


Price: $21.390
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 PAST TOP PICK Carmike Cinemas Inc.
CKEC-Q
Colin Stewart

(A Top Pick Nov 6/14. Down 17.71%.) A very good business. They operate movie theatres in the US. Trades at a huge valuation multiple discount to what Cineplex (CGX-T) would in Canada. They have been growing through acquisition.


Price: $22.730
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 DON'T BUY Canadian National R.R.
CNR-T
Colin Stewart

The rails have had a really good run over the last several years on the back of the North American economy being strong, but also transporting more oil, more coal and more grains. If people are worried about the commodity sector and transporting some of the key commodities, that could impact the rails.


Price: $72.000
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 COMMENT Canadian National R.R.
CNR-T
Barry Schwartz

There is an opportunity here. The stock has really pulled back. It has been hurt by the slowdown in the Canadian economy, and demand for commodities has really hampered the business. For a long-term investor, there is upside. Businesses are cyclical. Has a low operating ratio. Always generates a lot of free cash flow.


Price: $72.000
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 COMMENT Caldwell Partners Int'l (A)
CWL-T
Colin Stewart

In the executive search industry. While previously primarily focused on Canada, in the last 5-6 years, the CEO has made an effort to grow in the US. Over time this is very likely to be an acquisition candidate for one of the larger US players. Feels pretty good about their prospects. Very cheap at current prices. Thinks it is well worth $2 a share. Dividend yield of 6%.


Price: $1.470
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 COMMENT Empire Company (A)
EMP.A-T
Barry Schwartz

He thinks highly of the grocery chains in Canada. This is one of his largest holdings and has been very pleased with its performance and its management. There is still lots more opportunity for them. They are almost finished the Safeway acquisition and there is still excess capital for them to continue to grow the business.


Price: $91.180
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 PAST TOP PICK Hudson Bay Co.
HBC-T
Colin Stewart

(A Top Pick Nov 6/14. Up 15.84%.) His primary reason for this was its real estate assets. But people shouldn’t take away from the fact that they actually have made a lot of progress in the retail side. They turned around the Canadian operations significantly. Their US and German businesses are pretty good. Thinks there is a lot of upside yet.


Price: $22.460
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 TOP PICK High Liner Foods
HLF-T
Barry Schwartz

Had one bad quarter and it seemed like the whole world was going to end for the stock. It made no sense whatsoever. Frozen food has a huge scale in North America. It generates a lot of free cash flow. Dividend yield of 2.91%.


Price: $16.490
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 HOLD KP Tissue Inc
KPT-T
Barry Schwartz

Fundamentals have improved a lot since they went public. They sell branded tissue in Canada and private label tissue in the US. They have clearly laid out a roadmap of how their growth is going to happen and have delivered on that. Pays a very nice dividend. Got hurt by a rising US$ and input pricing. Better times are ahead. An excellent dividend which is fully covered. Expects that in the next 1-2 years, the company will be flush with cash and will either increase the dividends or launch another manufacturing plant to get a bigger share in the US. Dividend yield of 5%.


Price: $13.970
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 COMMENT Linamar Corp
LNR-T
Barry Schwartz

Linamar (LNR-T) or Magna (MG-T)? Has been hurt recently with the market correction and worries about exposure to China. Recent auto sale figures indicate 18 million cars are going to be sold in North America. He is very bullish over the next 4 or 5 years for the car market. Thinks Magna is the best place to be.


Price: $66.430
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 BUY Magna Int'l. (A)
MG-T
Barry Schwartz

Linamar (LNR-T) or Magna (MG-T)? Has been hurt recently with the market correction and worries about exposure to China. Recent auto sale figures indicate 18 million cars are going to be sold in North America. This company pretty much sells auto parts across the board to every single auto company. The knock against the company was that it didn’t have enough exposure to Asia, so it made an acquisition and the stock got hit with the drop of Asian stock markets. Very undervalued here.  Fundamentals are quite cheap. Creating a lot of free cash flow. He is very bullish over the next 4 or 5 years for the car market and thinks this company is the best place to be.


Price: $63.720
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 COMMENT Martinrea
MRE-T
Colin Stewart

This is a bit of a controversial name in the auto parts sector. There have been some issues of management turnover in the past, but thinks the outlook for the overall North American auto industry is very good. This company is benefiting from that. They made an acquisition in Europe a few years ago. Trades at a lower multiple than some of its peers, and thinks it is a pretty good play here.


Price: $11.350
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 COMMENT National Bank of Canada
NA-T
Colin Stewart

A high-quality franchise. A little bit different than some of the other banks with a bit more dependence on capital markets. More of a domestic oriented bank with dependence on Québec. Some exposure to Ontario, but they also have a fair bit of exposure in the energy patch. Thinks the dividend is safe. He prefers US banks.


Price: $42.840
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 PARTIAL SELL New Flyer Industries Inc.
NFI-T
Colin Stewart

The stock is up a lot, so if you own, he would recommend taking a bit off the table. In a choppy market it is never bad to take some profits. The fundamentals are quite strong right now. While they are a Canadian manufacturer, most of their sales are into the US and they benefit from a stronger US$. Their most recent quarter and the results were very strong and the backlog was extremely strong as well.


Price: $19.020
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 PAST TOP PICK Neenah Paper
NP-N
Barry Schwartz

(A Top Pick Aug 5/14. Up 17.48%.) Half of its business is making fine paper and the other half is making filtration products, labels and packaging. Generating a lot of free cash flow and are making more acquisitions. They continue to raise their dividend. Still a Buy.


Price: $57.450
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 TOP PICK Pollard Banknote Ltd
PBL-T
Colin Stewart

The 2nd largest producer of instant lottery scratch tickets globally. This is an industry dominated by a few large companies. They have long-term relationships with the state and government owned lotteries around the world. They produce tickets for 50-60 lotteries. This industry has grown organically 6%-7% over the last 20 years. Trading at about 8.5X EBITDA, so not an expensive stock. Dividend yield of 1.9%.


Price: $6.850
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 COMMENT Precision Castparts Corp.
PCP-N
Barry Schwartz

This is about to be acquired by Berkshire Hathaway. They offered $235 a share and he sold his holdings. If you own, tender or sell the stock and look to buy something else.


Price: $229.710
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 DON'T BUY Park Lawn Income Trust
PLC-X
Colin Stewart

This is more of a cemetery focused company and hasn’t had a significant presence in the funeral side, which is probably the better part of that industry. Trading at a fairly rich valuation multiple. He would prefer Service Corp (SCI-N) instead.


Price: $11.750
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 COMMENT PayPal Holdings Inc.
PYPL-Q
Colin Stewart

An intriguing company. An interesting infrastructure play on e-commerce. If you believe that there is going to be more and more online purchases, and people are going to pay for things electronically, this is going to be a big winner in that space. Not a cheap stock, but one that has big growth opportunities in front of them.


Price: $35.310
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2015-09-03 HOLD Qualcomm
QCOM-Q
Barry Schwartz

Continues to miss analysts’ expectations and he is glad that there is an activist in there to shake things up. They continue to generate a lot of free cash flow. There are concerns of legal issues in China. Have wonderful products and wonderful assets, but it is not being managed properly. A more reasonable level for the stock would be $55-$60, and if they are able to execute on some of the issues they are working with the activist investors, he thinks it could go back to the $80 range.


Price: $55.550
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 COMMENT Service Corp International
SCI-N
Colin Stewart

The leading consolidator in the funeral industry. Excellent management. A big, diversified business. Have been acquiring other companies in the US.


Price: $29.520
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 BUY Sun Life Financial Inc
SLF-T
Barry Schwartz

Insurance companies have held up much better than the banks, and this company has knocked it out of the park in the past few quarters. Stock price has really done well. All the lifecos in Canada are doing the right thing by trying to grow the wealth management side of the business. Interest rates going up will help the lifecos, but it doesn’t look like that is happening anytime soon.


Price: $41.520
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 PAST TOP PICK Molson Coors Brewing Company
TAP-N
Barry Schwartz

(A Top Pick Aug 5/14. Up 2.32%.) Facing tough competition from craft brewing, and beer is facing competition from other types of alcoholic drinks. Beer drinking is not going to grow any more but is going to slowly, slowly decline over time. But this company compounds capital. They charge $3 for sugar water and are able to use that to generate a lot of free cash flow to buy other brands and make acquisitions. The jewel in the crown is its 42% ownership in Miller Coors. At some point in time, something is going to have to happen with that joint venture. He is still buying under $70.


Price: $66.960
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 DON'T BUY Tembec Inc.
TMB-T
Colin Stewart

He likes the forest sector. This is more of an Ontario-based lumber producer with a dissolving pulp business along with some other assets. They have been burdened by a fairly high level of financial leverage, which would be something of a concern. Interesting to look at given Fairfax’s (FFH-T) recent stake.


Price: $0.960
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 BUY Toll Brothers Inc.
TOL-N
Colin Stewart

A home builder which operates at the very high end of the industry, building luxury homes. As the consumer does well in the US and as people have more confidence, they are going to buy more homes, and this is a great way to play domestic US consumer strength.


Price: $37.600
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 COMMENT Twitter, Inc
TWTR-N
Barry Schwartz

It is hard to analyse companies that don’t make money. Trading at an infinitesimal price to earnings ratio, so it is impossible for him to analyse.


Price: $28.300
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 PAST TOP PICK Tuckamore Capital Management
TX-T
Colin Stewart

(A Top Pick Nov 6/14. Down 75%.) One of their key assets is an oil/gas services business, so it has come under a lot of pressure. This is a high risk/high reward situation. Still very much a binary outcome. It is either going to come under a lot of pressure with bankruptcy risks, or the stock could go up significantly if they are able to restructure their debt. Management owns a lot of stock personally. If they are successful at refinancing debt and the business holds up reasonably well, the outlook could be positive.


Price: $0.180
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 COMMENT Uni-Select Inc
UNS-T
Barry Schwartz

Made a transformative deal. They pretty much sold their aftermarket products and then used the cash to buy back stock. This is a changed company and he would have to do more research before he could form an opinion.


Price: $57.850
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 HOLD United Technologies
UTX-N
Colin Stewart

An excellent company. It has some ties to the US economy. If it pulls back, it could be a good opportunity to add to your position.


Price: $91.910
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2015-09-03 COMMENT Visa Inc.
V-N
Barry Schwartz

Everybody is using credit cards and shopping is going mobile. You can’t pay for your online shopping with cash. Stock has popped recently because there is an opportunity for it to acquire VisaEurope. Beautiful balance sheet. Valuation is expensive, but they just compound capital. There is still more runway to grow its business. Dividend yield of 0.7%.


Price: $70.400
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 PAST TOP PICK Viacom Inc.
VIAB-Q
Barry Schwartz

(A Top Pick Aug 5/14. Down 46.21%.) Has been hit really hard lately, but feels it has been overplayed and overdone. They get 50% of their revenues from advertising and 50% from affiliated fees. Thinks the assets are worth double what the stock is trading at. Trading at only 6X next year’s earnings, which makes no sense.


Price: $43.150
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 COMMENT Valeant Pharmaceuticals
VRX-T
Colin Stewart

This has been a great performer. Not particularly expensive. As a value investor, he tends to try and find things that are a bit more beat up. This is a growth by acquisition model. Their organic growth is not particularly attractive, but assuming they can continue to execute on deals and buy companies, he can’t see any reason why the stock can’t keep going up. One risk is finding acquisitions at reasonable prices as the company gets bigger.


Price: $301.250
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-03 COMMENT Wells Fargo
WFC-N
Colin Stewart

He likes the US banks. This is the one that people tend to think of as the blue-chip bank. Well-run and well capitalized. Didn’t have a lot of issues during the financial crisis, like a lot of the other banks. Tends to get a bit of a premium valuation. Has a lot of exposure to the mortgage business, and will benefit when the US housing market improves. Nice dividend yield.


Price: $52.430
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-09-03 COMMENT Westjet Airlines
WJA-T
Colin Stewart

Just came out was some weak load factors; traffic growth is not keeping up with capacity growth. A number like this might cause some concern. He prefers Air Canada (AC-T) which trades at a lower valuation multiple and has much more exposure internationally.


Price: $23.740
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2015-09-03 COMMENT Wal-Mart Stores Inc.
WMT-N
Barry Schwartz

For a long-term investor, this is probably a reasonable entry point. It has been a tough couple of years for them, but he thinks they are making all the right moves to improve the earnings pace. They keep buying back a lot of stock and raising the dividend every year.


Price: $64.860
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-09-02 N/A A Comment -- General Comments From an Expert
A Commentary
Brendan Caldwell

Markets. The action in the last month or so is an inherently healthy process. Bull markets really do climb a wall of fear, and while the US market has been strong for a couple of years, it really hasn’t had any fear to counterbalance it. The playbook that central banks have is to flood the system with liquidity, and that just means the market continues on for another couple of years very, very strong. He has been very, very light on energy, and almost entirely absent on resources.


Price: $0.020
Subject: CANADIAN VALUE
Bias: BULLISH
Owned: _N/A
2015-09-02 N/A A Comment -- General Comments From an Expert
A Commentary
Brendan Caldwell

Currencies. The majority of the damage has been done to the loonie. It is going to be a while before the Cdn$ recovers. Thinks we will see a $.70 dollar, before we see a $.80 dollar. We are the only normal petrocurrency globally, the only country producing oil and has a currency worth talking about. Unless you think oil is going back to $70, our dollar is not going back to parity.


Price: $0.020
Subject: CANADIAN VALUE
Bias: BULLISH
Owned: _N/A
2015-09-02 COMMENT A Comment -- General Comments From an Expert
A Commentary
Swanzy Quarshie

Markets.  Recently visited Calgary and found the mood was very pessimistic. Lots of companies cutting back and laying off staff, and trying to rationalize costs. Feels we are close to bottoming which is a good sign. Lots of people laid off, mood was very grim,. Housing hasn't been very impacted very much. Restaurants aren't very busy. Not great in Calgary.


Price: $0.020
Subject: OIL & GAS
Bias: UNKNOWN
Owned: Unknown
2015-09-02 COMMENT A Comment -- General Comments From an Expert
A Commentary
Swanzy Quarshie

 

Supply/Demand in the US. Inventory numbers are higher than expected. IEA showing that Q2 was the highest, oversupplied period that we had, over 3 million barrels in supply, but now we are getting closer to the 1.5 million dollar supply level. The good thing is that the US is finally pulling back in producing. Feels we are past the worst part of the oversupply situation.



Price: $0.020
Subject: OIL & GAS
Bias: UNKNOWN
Owned: Unknown
2015-09-02 COMMENT A Comment -- General Comments From an Expert
A Commentary
Swanzy Quarshie

 

 

How to pick the right companies in the energy sector? Recommends modelling them and looking at the commodity price. Look at their net-backs, their operation margins. Look at their cash flow and see if they are able to meet all the obligations for that cash flow. Look at that stress test to help determine how they are able to meet that stress in different environments. Look at their debt level and credit level.




Price: $0.020
Subject: OIL & GAS
Bias: UNKNOWN
Owned: Unknown
2015-09-02 COMMENT A Comment -- General Comments From an Expert
A Commentary
Swanzy Quarshie

Market.  The market is throwing the baby out with the bathwater now, and this is where you get the chance to pick up some great quality companies, that have been oversold.


Price: $0.020
Subject: OIL & GAS
Bias: UNKNOWN
Owned: Unknown
2015-09-02 COMMENT Barrick Gold
ABX-T
Brendan Caldwell

Feels the strong US$ could push gold lower. This company has been beaten down tremendously. As a conservative gold play, he prefers Franco Nevada (FNV-T). For a more pure play, in case of a turnaround in gold, he would prefer something like Detour Gold (DGC-T).


Price: $8.880
Subject: CANADIAN VALUE
Bias: BULLISH
Owned: No
2015-09-02 PAST TOP PICK AGT Food & Ingredients
AGT-T
Brendan Caldwell

(A Top Pick Nov 12/14. Up 6.29%.) He really likes the food business. It is both stable and growing. This one specializes in non-meat proteins, one of the fastest-growing parts of the business.


Price: $28.700
Subject: CANADIAN VALUE
Bias: BULLISH
Owned: Yes
2015-09-02 COMMENT Brookfield Asset Management (A)
BAM.A-T
Brendan Caldwell

Had owned this for some time, but switched to Tricon Capital (TCN-T). His concern was that the company might be somewhat vulnerable to a rise in interest rates in the US. Also, ownership is a little bit complicated. (See Top Picks.)


Price: $41.160
Subject: CANADIAN VALUE
Bias: BULLISH
Owned: No
2015-09-02 TOP PICK Bankers Petroleum
BNK-T
Swanzy Quarshie

Has been working very hard on their top line as well as their cost structure. Their margins have been improving as a result. A very solid business with an excellent balance sheet. That's not going bankrupt in this environment.


Price: $2.050
Subject: OIL & GAS
Bias: UNKNOWN
Owned: Yes
2015-09-02 PAST TOP PICK Bankers Petroleum
BNK-T
Swanzy Quarshie

(Past Top Pick, Feb. 12, 2015, down 38.25%)  Still owns. They are liquid and there is a lot of torque to the oil prices. They will do very well in the rising oil price or the falling oil price. The management has done some terrific things in terms of cost management, which will protect the core business of the company.


Price: $2.050
Subject: OIL & GAS
Bias: UNKNOWN
Owned: Unknown
2015-09-02 COMMENT Bank of Nova Scotia
BNS-T
Brendan Caldwell

Canadian Banks have been under a fair amount of pressure in the last while because of a feeling they are going to be exposed to the energy sector. You could see loan losses as much as double if energy prices don’t perk up north of $50. Of the Canadian banks, Royal Bank (RY-T) has the least exposure. Scotia is the most international bank. With the International volatility, there have been some foreign-exchange issues. Doesn’t think you are going to go too far wrong with any of the Canadian banks. Dividend yield of 4.8%.


Price: $58.400
Subject: CANADIAN VALUE
Bias: BULLISH
Owned: Unknown
2015-09-02 COMMENT Baytex Energy Corp
BTE-T
Swanzy Quarshie

Good company to be in, but depends on what you are looking for. Recently, suspended their dividend. Unlikely that the dividend will come back soon. Likes their assets in the Eagle Foot. Sees a lot of torc for this company, a lot of growth in terms of getting production back up once commodity prices go back. It is a safe place to be in this environment. 


Price: $6.980
Subject: OIL & GAS
Bias: UNKNOWN
Owned: Yes
2015-09-02 TOP PICK CCL Industries (B)
CCL.B-T
Brendan Caldwell

(All 3 picks are focused on benefiting from the US$.) This is a Canadian company that is in labels, and are the best in North America at this. They have both intelligent acquisitions and organic growth. Dividend yield of 0.85%.


Price: $176.950
Subject: CANADIAN VALUE
Bias: BULLISH
Owned: Yes
2015-09-02 HOLD Com Dev International Ltd.
CDV-T
Brendan Caldwell

A really, really interesting company in terms of the commercialization of space. It has come off in this recent market. Virtually every satellite that goes up in the Western world has a Com Dev component in it. We are currently on the cusp of the commercialization of space. This company has the ability to benefit from a lot of the programs that are being proposed.


Price: $4.930
Subject: CANADIAN VALUE
Bias: BULLISH
Owned: No
2015-09-02 BUY Cardinal Energy Ltd
CJ-T
Swanzy Quarshie

Likes and owns it. Is a good quality company. They have done very well in amassing assents, to replace their production runs. The reason the stock is down, is their operating costs are a little high, which means it's difficult in this environment. But they have really solid payout ratios.  A great place to hide, you can wait for opportunity and you get a nice dividend.


Price: $9.640
Subject: OIL & GAS
Bias: UNKNOWN
Owned: Yes
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