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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
2015-02-26 DON'T BUY Aecon Group Inc
ARE-T
Douglas Kee

This is not a big dividend grower and doesn’t have a substantial yield, so he does not own this one. This is a cyclical business and it is going to be challenged by the whole oil patch, because they are in construction.


Price: $11.690
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-26 BUY Boeing
BA-N
Jennifer Radman

They have about 5 years of backlog orders in their business.  You can probably get a bit of a better entry point if you are patient.  Not a bad pick.


Price: $151.730
Subject: US LARGE
Bias: SELECTIVE
Owned: No
2015-02-26 COMMENT CCL Industries (B)
CCL.B-T
Douglas Kee

Very underappreciated. Earnings were in line. Pays a decent yield of about 1%, but they grow the dividend. This is in a business that continues to make acquisitions in the US.


Price: $137.390
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-26 COMMENT Chemtrade Logisitics Inc.
CHE.UN-T
Douglas Kee

Yields about 5.5% or so, which he thinks is safe. Payout is a little high and they will be working it down. Made acquisitions that they are now paying down. This is a slower growing business. Majority of its growth comes through acquisitions.


Price: $20.910
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-26 HOLD Crescent Point Energy Corp
CPG-T
Douglas Kee

Likes this company. Pretty conservatively managed in that their balance sheet is not significantly leveraged. As part of their whole corporate thing, they Sell forward. This has hurt in the last couple of years, but is now helping them. Dividend is safe for the next 6-12 months if oil prices remain $50+ going on 12 months.


Price: $30.990
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2015-02-26 TOP PICK Cisco
CSCO-Q
Jennifer Radman

It is just starting to get going.  When you consider the net cash flow there is a lot of value in the stock.  The company has been very up front about how they are dealing with competitive threats. 


Price: $29.910
Subject: US LARGE
Bias: SELECTIVE
Owned: Yes
2015-02-26 BUY on WEAKNESS CSX Corp
CSX-N
Jennifer Radman

Good things going on with Intermodal growth.  They have been getting tightness in the trucking market because they can’t find drivers and now with layoffs in the energy space it is spilling onto the rail side.  These are temporary issues.  She feels there is just a temporary blip in this story.  She would buy on weakness.


Price: $34.310
Subject: US LARGE
Bias: SELECTIVE
Owned: Yes
2015-02-26 TOP PICK Cognizant Technology Solutions Corp.
CTSH-Q
Jennifer Radman

They help companies be better through technology.  It used to be cost cutting and outsourcing and now it is moving more to how to use technology to differentiate the product.  They are focused on healthcare and financial services.  There is quite a bit of run room in this one.  There was a temporary profit warning and she bought into that.


Price: $62.790
Subject: US LARGE
Bias: SELECTIVE
Owned: Yes
2015-02-26 TOP PICK Cenovus Energy
CVE-T
Douglas Kee

(A Top Pick May 7/14. Down 29.42%.) Long-term assets and low cost producer of SAGD in Christina Lake and Foster Creek. Have other assets they have delayed putting money into, but will do so longer-term. Balance sheet is in pretty good shape. Just did a $1.5 billion issue. Instituted a DRIP program at a 3% discount. Also, have royalty properties that they could sell. Management has stated that protecting the dividend is very important to them. Yield of 4.89%.


Price: $21.760
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2015-02-26 HOLD CVS Health
CVS-N
Jennifer Radman

They are targeting how to generate traffic.  They have the pharmacy benefits side which is seen as a competitive advantage.  New money should get a better opportunity over the next little while.


Price: $104.170
Subject: US LARGE
Bias: SELECTIVE
Owned: Unknown
2015-02-26 DON'T BUY Walt Disney
DIS-N
Jennifer Radman

Has been a great performer.  They have been firing on a lot of cylinders.  They are trading quite a bit above where they have traded historically so she does not own it.


Price: $104.560
Subject: US LARGE
Bias: SELECTIVE
Owned: No
2015-02-26 COMMENT Enbridge
ENB-T
Douglas Kee

A good business and they have good projects. They are increasing their dividend at about 10%+ a year.


Price: $57.610
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2015-02-26 COMMENT Freehold Royalties
FRU-T
Douglas Kee

Pretty good yield even though they did cut their dividend along with everybody else. This is a royalty company, so they don’t have the big CapX programs that others do. A good mix of royalty projects and others. He likes the company.


Price: $18.760
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2015-02-26 PAST TOP PICK Fortis Inc.
FTS-T
Douglas Kee

(A Top Pick May 7/14. Up 24.41%.) Continues to like this. Had a couple of acquisitions in the US in the last couple of years that are really coming on stream now from an earnings point of view. Earnings are going to be up 20% plus this year, and it is likely they will be increasing their dividend a little faster.


Price: $38.910
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2015-02-26 TOP PICK W. W. Grainger Inc
GWW-N
Jennifer Radman

Digitized their large catalogues of manufacturing parts.  They focus on working capital.  It is a very large scale business.  There is some energy overhang so the share price has not done anything in two years. 


Price: $240.380
Subject: US LARGE
Bias: SELECTIVE
Owned: Yes
2015-02-26 DON'T BUY Home Depot
HD-N
Jennifer Radman

Results are consistent with the better economic numbers and wage growth.  She does not own it due to valuation.


Price: $115.380
Subject: US LARGE
Bias: SELECTIVE
Owned: No
2015-02-26 DON'T BUY IBM
IBM-N
Jennifer Radman

It has not been a pretty picture for IBM.  8% revenue decline over the last quarter. 


Price: $160.870
Subject: US LARGE
Bias: SELECTIVE
Owned: Unknown
2015-02-26 COMMENT Interfor Corp
IFP-T
Douglas Kee

He doesn’t own forest product companies because of no or low yield. Stocks have done well based on what is happening in the US on the housing side. Also there are some exports to Asia. This is not a sector that he is interested in.


Price: $21.050
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-26 COMMENT Imperial Oil
IMO-T
Douglas Kee

A lower yielder, so he doesn’t own it. Great business. Superior assets.


Price: $48.520
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-26 BUY KKR & Co. LP
KKR-N
Jennifer Radman

Has been flat for bit now.  They had strong realizations as they sold off businesses and now it is a question of what is next.  She sees a very good underlying yield to the story.  They had some energy exposure that was marked down this past quarter.  She likes the management team.  There is quite a bit of opportunity for them.


Price: $23.490
Subject: US LARGE
Bias: SELECTIVE
Owned: Unknown
2015-02-26 DON'T BUY Kroger Co.
KR-N
Jennifer Radman

It has had a pretty good run and it is not attractive from a valuation point of view.  It will pullback more than others in a market correction.


Price: $72.090
Subject: US LARGE
Bias: SELECTIVE
Owned: No
2015-02-26 HOLD Loblaw Companies Ltd
L-T
Douglas Kee

Good company and have a good move up in earnings coming because of their Shoppers acquisition. Their basic food business is pretty brutal. Lots of competition. Without food inflation it is pretty hard for them to get their prices up. Yield is reasonably low, but they are increasing their dividends at a gradual rate.


Price: $64.670
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-26 WEAK BUY L Brands Inc.
LB-N
Jennifer Radman

They are in great areas and saw great growth in execution.  Better economic numbers and wage growth in the US is positive.  LB-N has been one of the better performers over the last year or so.  There is a concern about how long they can keep up the growth.


Price: $91.980
Subject: US LARGE
Bias: SELECTIVE
Owned: No
2015-02-26 DON'T BUY Southwest Airlines
LUV-N
Jennifer Radman

In the last couple of weeks she has started hearing comments on airline capacity being higher and what impact that has on pricing and margins.  This one is in a good position and has a low cost structure.  The group has had a run and she would not be surprised at a pullback in US airlines.


Price: $44.080
Subject: US LARGE
Bias: SELECTIVE
Owned: No
2015-02-26 DON'T BUY Manitoba Telecom Services
MBT-T
Douglas Kee

 Yield of about 6.8%, but it is questionable if they can maintain it. They could possibly cut it again. This could be a take out candidate some day, but on the acquirer’s calendar, not Manitoba Telecom’s.


Price: $24.760
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-26 BUY Onex Corp
OCX-T
Jennifer Radman

One of the companies she is enthusiastic about. A lot of their assets are in US$.  They have strong alignment with shareholders.  It is a core holding and a great opportunity.


Price: $70.740
Subject: US LARGE
Bias: SELECTIVE
Owned: Yes
2015-02-26 DON'T BUY Precision Drilling
PD-T
Douglas Kee

He doesn’t own any of the drillers and hasn’t since 2008-2009. This is challenged like all of the drillers because the producers are cutting back CapX. There are not only the cutbacks, but there is big pressure on them to cut their drilling costs 20%-25%. There is no hurry to get into this.


Price: $7.600
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-26 COMMENT Parkland Fuel Corp
PKI-T
Douglas Kee

A good yielder. Have grown their yield and are expanding their business. Made a fairly significant acquisition last fall, and there is more potential for them to buy more gas stations out west.


Price: $23.220
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2015-02-26 TOP PICK Pembina Pipeline Corp
PPL-T
Douglas Kee

Believes this is on sale at these levels. There was some concern about the company because of cost of service. Good CapX program with $1.5 billion this year coming on stream. Another $6 billion in the next 3 years. Their cost of service business is about 70% of their cash flow, and with these projects and re-contracting this gets up to about 80% 3 years out. Yield of 4.47%.


Price: $38.890
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2015-02-26 COMMENT Penn West Petroleum
PWT-T
Douglas Kee

This model works at $70 oil, but does not work at $45 oil, so he sold his holdings. The risk is, if oil prices stay where they are, they will probably have to cut their dividends again. They have good bank lines, but these days those are questionable, as he expects banks will be cutting back on them.


Price: $2.460
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-26 PAST TOP PICK Rogers Communcations (B)
RCI.B-T
Douglas Kee

(A Top Pick May 7/14. Up 4.3%.) Doing what they said they would do. They were kind of lagging in their customer service side and are fixing that. Increasing their dividend. Still a good company.


Price: $44.670
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2015-02-26 COMMENT Russel Metals
RUS-T
Douglas Kee

Their biggest component is energy at about 40% or so. A lot of that is more of a service type revenue. Their philosophy is to pay out 80% of their earnings. This is a warehouse business, so there is not a lot of capital needed, other than inventory. The dividend looks okay for now.


Price: $25.680
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2015-02-26 TOP PICK Royal Bank
RY-T
Douglas Kee

Just reported and their strength was on the domestic retail side, a little stronger than what people thought it would be. Margins are actually up a snick, where it was thought they would be down. Capital market was a lot stronger than people were expecting. Good yield of 3.95% which is likely to be increased 3%-4% later in the year.


Price: $78.070
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2015-02-26 DON'T BUY Starbucks
SBUX-Q
Jennifer Radman

They have done very well execution wise.  They are going into different lunches and offerings.  A good story, but on the valuation front she just isn’t interested.


Price: $94.550
Subject: US LARGE
Bias: SELECTIVE
Owned: No
2015-02-26 PAST TOP PICK Shawcor Ltd. (A)
SCL-T
Jennifer Radman

(Top Pick Jan 10/14, Down 8.96%) It is tied to oil.  She liked it because of ongoing development, which is taking a pause right now.  She bought into a declining backlog, but as we work through this cycle it will be a good stock to own.


Price: $35.320
Subject: US LARGE
Bias: SELECTIVE
Owned: No
2015-02-26 PAST TOP PICK Shaw Communication (B)
SJR.B-T
Douglas Kee

(A Top Pick May 7/14. (BNN shows this as a Past  Top Pick, but our records show that this stock was not mentioned on that date. Also, BNN did not show any percentage gain for this. ) This stock hit highs a couple of weeks ago. They don’t have the wireless problem that others have. There was some speculation of takeover and valuations in the US. Will likely be a candidate at some point.


Price: $29.010
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2015-02-26 COMMENT SNC-Lavalin Group Inc.
SNC-T
Douglas Kee

Outstanding legal charges have hurt the stock. Thinks there is an overhang on this stock because of the criminal charges. The likelihood is that they will probably settle. Thinks the whole flow of bidding for them is going to slow down because of their problems.


Price: $39.460
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-26 HOLD Trans Canada Corp
TRP-T
Douglas Kee

Longer-term they are growing their dividend 5%-8% per year, which he likes. You are probably paying nothing for Keystone and maybe a little for Energy East. Growth over the next couple of years, is primarily infrastructure in Alberta.


Price: $54.170
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2015-02-26 BUY Visa Inc.
V-N
Jennifer Radman

Has been doing well because it has the scale and you are seeing the growth in transactions.  It has always been a high multiple stock.  She just hasn’t seen a good opportunity to get in recently.


Price: $273.750
Subject: US LARGE
Bias: SELECTIVE
Owned: No
2015-02-26 PAST TOP PICK Varian Medical Systems
VAR-N
Jennifer Radman

(Top Pick Jan 10/14, Up 14.91%) Hospitals stepped back to see what the environment was like and now orders have picked up.  It is one of the cheapest names still in the health care space.


Price: $92.450
Subject: US LARGE
Bias: SELECTIVE
Owned: Yes
2015-02-26 COMMENT Wajax Corp
WJX-T
Douglas Kee

Yield on this is pretty high and because of their debt position, they are likely to be cutting it at some point. They are related to the oil sector, so that is probably going to soften their earnings.


Price: $26.000
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-26 HOLD Westshore Terminals Inc.
WTE-T
Douglas Kee

Good company. Reasonable yield and the dividend is safe. Stock price has slowed down because coal exports have slowed down. He believes that longer-term, metallurgical coal is a good business to be in.


Price: $32.280
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: No
2015-02-25 N/A A Comment -- General Comments From an Expert
A Commentary
Gordon Reid

US Markets. US stocks are trading at about 17X earnings. Given the interest rate environment, profit margin growth and productivity trends, it is probably in fair market range. You have to look at individual sectors, industries and companies for your growth, as opposed to allowing the market itself to take you higher. With lower rates, the cost of capital is cheaper for corporations and they are more likely to make money easier, so profit growth is more easily accomplished. From a market standpoint, rates (bonds) are a competitive asset class, so when you have low rates, people gravitate towards stocks. Also, you could look at it from the point of earnings yield. If you take the P/E ratio, and invert it, E/P gives you an earnings yield which, historically, has pretty much matched the B-AA bond, the worst investment grade bond out there. Currently, there is about a 2 point spread, which means that either valuations can go higher, or interest rates will go higher. His suspicion is that both will happen. You are going to see articles that the multiple in the market is getting way out of whack, and this is going to happen in large part because energy companies are expecting to see earnings halved in 2015 over 2014. That is going to have an effect on the multiple of the S&P 500. You have to look at 2 things. 1.) Is it a transient event (which is debatable) and 2) it is isolated to energy companies and one should look at the other 9 major sectors. There is going to be lots of places to look for value.


Price: $0.020
Subject: US EQUITIES
Bias: BULLISH
Owned: _N/A
2015-02-25 COMMENT A Comment -- General Comments From an Expert
A Commentary
Gordon Reid

Tax Info. One of the very big things for people who have foreign assets is the Foreign Income Verification form (T1135). This is a complicated form to complete and is required for anybody who has $100,000 of foreign assets outside of their RRSP. You can go to www.goodreid.com to E-articles to read about this.


Price: $0.020
Subject: US EQUITIES
Bias: BULLISH
Owned: _N/A
2015-02-25 N/A A Comment -- General Comments From an Expert
A Commentary
Michael Sprung

Economy. Here we are 6 years after the crisis and not only have we had all the geopolitical problems, it is like the world has been having a huge experiment in the monetary policies. No one quite knows how it is all going to turn out. It almost seems to be a race for the bottom in currency wars the way people are lowering their bank rates. Some are even negative now. Quantitative easing is also spreading across the world. At the same time, the US$ has been so strong that it is almost like people have been cutting rates to become more competitive. At what point does the US become unhappy with this? He thinks it is beginning to seep a little bit into US manufacturing, but nonetheless their economy seems to be the one that is strong and growing. It has been the place to be the last couple of years. In Canada we have had the opposite effect through oil prices collapsing, which is also having ripple effects across our economy. As a value investor, to position yourself over the next business cycle, you have to figure out where you want to be, how you want to do it and try to figure out what opportunities are going to come from these kinds of changes that are happening. That is what he is struggling with now.


Price: $0.020
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: _N/A
2015-02-25 N/A A Comment -- General Comments From an Expert
A Commentary
Michael Sprung

What metrics do you focus on, as to whether a stock should be classified as Growth or Value? As a value manager, he tries to judge what he is paying for against what he is getting now, and is likely to be there in the future. He is looking much more for organic growth rather than through acquisitions. If you are looking at stocks in any one industry, growth stocks are generally going to have higher multiples, whereas value managers are probably going to be buying more return on equity.


Price: $0.020
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: _N/A
2015-02-25 COMMENT Apple
AAPL-Q
Gordon Reid

There is more clarity than there was 2-5 years ago, when it was thought that they had to reprove themselves on innovations. They now have new products coming such as the new watch and Apple Pay. He thinks there is still a lot of growth and a long runway. Have become much more shareholder friendly. No company globally produces the amount of free cash like this company. His guess is that the 1.44% yield will probably close to double in April.


Price: $128.790
Subject: US EQUITIES
Bias: BULLISH
Owned: Yes
2015-02-25 COMMENT American International Group
AIG-N
Gordon Reid

He likes this. It is coming out of the mess of 2008 and becoming a traditional property/casualty Company. Sold off their aircraft leasing operation. Trading at about 10X earnings and only about 75% of BV. Very good value. The future is bright.


Price: $54.800
Subject: US EQUITIES
Bias: BULLISH
Owned: Yes
2015-02-25 TOP PICK Aecon Group Inc
ARE-T
Michael Sprung

One of the largest Canadian construction companies. Has been hit as a large proportion of their earnings come from energy related areas. However, they are also very big in infrastructure. Trading close to BV. Management over the last couple of years has achieved a significant turnaround in the operating efficiency of the company. A sale of their exposure to the Quito Peru airport, is also a positive to their balance sheet. Yield of 3.05%.


Price: $11.800
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2015-02-25 COMMENT Bank of America
BAC-N
Gordon Reid

If you have a spot for a financial to complement the rest of your portfolio, you should fill it. This one is an opportunity. Generally speaking, the whole group is going to move together. It is going to take a catalyst and that catalyst is likely going to be higher interest rates that will allow net margin spread to increase because of a steepening yield curve. This is a decent choice in US banks. (See Top Picks.)


Price: $16.490
Subject: US EQUITIES
Bias: BULLISH
Owned: No
2015-02-25 DON'T BUY Bombardier Inc (B)
BBD.B-T
Michael Sprung

This is quite a controversial company. He has not recommended this one for some period of time. It is highly levered. Has been very disappointed in the development of the C series. Having a flight test very soon, so a lot of what happens to the stock will be dependent on the results of that. Recently had to do quite a large issue. At these levels, this is a speculation rather than an investment.


Price: $2.600
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2015-02-25 COMMENT Bonavista Energy Corp
BNP-T
Michael Sprung

Has been hammered along with a lot of other energy stocks, but this has always been one of the better managed companies in the group. It is proportionately more exposed to natural gas. With the current pricing of energy commodities, you have to ask how safe the dividend is. This management has always been better at executing in the oil/gas area. For people that are looking for more speculation in their portfolio, this might be a small piece of their portfolio because it could have tremendous upside relative to the downside.


Price: $7.210
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2015-02-25 COMMENT Bank of Nova Scotia
BNS-T
Michael Sprung

We have seen a mix of earnings coming out from the banks. On this one, you are dealing with a different kind of international diversification. Not sure that their exposure to South America and the Caribbean are going to be a big positive catalyst right now. He does like this bank and thinks it is fairly well priced at the current levels. Dividend yield of 4%.


Price: $65.820
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2015-02-25 TOP PICK CitiGroup
C-N
Gordon Reid

CEO is doing a good job and concentrating the bank on core efficiencies. They are getting out of a lot of countries and out of risk areas. They go through another stress test in March, and he is quite hopeful they will be allowed to increase their dividend and their buyback. Relatively cheap on a variety of metrics. Trading at about 10X earnings compared to the average bank that is trading at about 13X. Also, trading at about 90% of tangible book value compared to the average bank of 163%. Yield of 0.08%.


Price: $52.090
Subject: US EQUITIES
Bias: BULLISH
Owned: Yes
2015-02-25 COMMENT Costco Wholesale
COST-Q
Gordon Reid

The company has done a wonderful job. He likes the model. They are in a low margin business, but they have the membership fees, which is pure gravy. A nice recurring revenue. However, the multiple is quite high, which has made him shy away. He doesn’t think you can build in any multiple expansion, so it is going to have to be on internal or organic growth.


Price: $147.480
Subject: US EQUITIES
Bias: BULLISH
Owned: No
2015-02-25 PAST TOP PICK Cenovus Energy
CVE-T
Michael Sprung

(A Top Pick March 7/14. Down 24.69%.) He just participated in a recent equity issue they just did. Management has been very proactive. They have taken a couple of rounds of cutting back their CapX for the next couple of years and have raised equity to shore up their balance sheet. It is a tough environment for these companies, but these assets are 30-50 year assets. Expects cash flows are going to be severely hit this year. However, given a turnaround in pricing somewhere along the line, this is going to come back fairly quickly.


Price: $22.190
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2015-02-25 SELL Walt Disney
DIS-N
Gordon Reid

Sold his holdings on a valuation basis some time ago. He believes it continues to be a great company and doing a very good job in terms of good solid revenue as well as great cash flow. However, they are expensive. If you own, he would make a switch into Time Warner (TWX-N).


Price: $105.570
Subject: US EQUITIES
Bias: BULLISH
Owned: No
2015-02-25 PAST TOP PICK EnerCare Inc
ECI-T
Michael Sprung

(A Top Pick March 7/14. Up 45.09%.) In this one, he saw excellent management execution of turning this business around. He continues to own, but wouldn’t be a buyer at current levels.


Price: $14.710
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
2015-02-25 COMMENT Element Financial
EFN-T
Michael Sprung

Positioned in the leasing segment of the financial market, an area which has been largely abandoned to some extent by a lot of the larger financial institutions. A well-managed company and is likely to do quite well. However, it is priced very much like a growth stock with a high degree of growth built into the projections. From a price point of view, it is not where he would be comfortable jumping in, but he wouldn’t bet against management.


Price: $15.420
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2015-02-25 BUY Ford Motor
F-N
Gordon Reid

To him, this is the best in the automobile space. The new F150 is getting a lot of very good reviews and is the best selling vehicle globally. Total car shipments worldwide are running somewhere around 60 million with 17 million of that in North America. There are lots of opportunities there, but also lots of worries. They have had a tough time in Europe. From an investment standpoint, that creates opportunity. He thinks there is some promise this year and in the next few years for Ford.


Price: $16.510
Subject: US EQUITIES
Bias: BULLISH
Owned: No
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