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

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Date Signal Company Expert Opinion Price
2015-05-27 COMMENT Surge Energy Inc
SGY-T
Bill Bonner

This is a name that he has loved in the past. He still has a warm feeling towards it, but they got their balance sheet a little too stretched. The story on this company will revert to their Western Saskatchewan Shaunavon play, and he thinks the market is going to have to have proof that that play is going to work. There might be better places to go with less risk.


Price: $4.110
Subject: CANADIAN ENERGY
Bias: UNKNOWN
Owned: Unknown
2015-05-27 BUY on WEAKNESS Spartan Energy Corp
SPE-T
Bill Bonner

Great Saskatchewan asset base. Lots of running room with 600-700 drillable locations. Likes the company and has great confidence in management’s ability to exploit the Frobisher/Alida play. They are at all the right addresses for an oil company. He would probably buy more on weakness.


Price: $3.230
Subject: CANADIAN ENERGY
Bias: UNKNOWN
Owned: Yes
2015-05-27 COMMENT Twin Butte Energy
TBE-T
Bill Bonner

Did a great job of adding some lighter oil into their product mix. However, as time went on, the market lost confidence in execution. The sustainability of the dividend yield of over 15% is a concern, which he thinks is valid. There are less risky positions to take.


Price: $0.780
Subject: CANADIAN ENERGY
Bias: UNKNOWN
Owned: No
2015-05-27 TOP PICK Torc Oil & Gas Ltd
TOG-T
Bill Bonner

Just acquired Surge Energy’s (SGY-T) south east Saskatchewan oil assets, which gives them a massive toe hold in that region. There is lots of confidence in their ability to exploit those assets. Great dividend which is absolutely secure. Impeccable balance sheet. They have a great play in Alberta, (Monarch) which is a huge resource play that could over time bring thousands of barrels of production to them.


Price: $9.490
Subject: CANADIAN ENERGY
Bias: UNKNOWN
Owned: Yes
2015-05-27 COMMENT Toro Oil & Gas Ltd
TOO-X
Bill Bonner

Still loves this. Just announced a financing arrangement whereby they have sold the royalty on future production from their Hamilton/Viking play. The game is absolutely still on. They have no bank debt and have a swatch of cash in the bank. Have a 2nd half drilling program that they will execute on.


Price: $0.710
Subject: CANADIAN ENERGY
Bias: UNKNOWN
Owned: Yes
2015-05-27 COMMENT Tourmaline Oil Corp
TOU-T
Bill Bonner

One of the best run companies in the oil/gas space. It is mainly gassy. Production this year will be almost 50% higher than it was in 2014. There is a lot of growth ahead of it. Also, one of the lowest cost producers out there. The business plan is to grow it so large that a huge company would want to acquire it.


Price: $38.290
Subject: CANADIAN ENERGY
Bias: UNKNOWN
Owned: Yes
2015-05-27 TOP PICK Vanguard MSCI Emerg. Mkt. ETF
VEE-T
John DeGoey

You should have 20% exposure to emerging markets. 


Price: $32.550
Subject: PERSONAL FINANCE & ETFs
Bias: DEFENSIVE
Owned: Yes
2015-05-27 DON'T BUY Vang.Cdn Short-Term Corp. Bond
VSC-T
John DeGoey

Short duration corporate bonds.  He would not be buying a bond product right now.  He prefers principal protected notes.


Price: $25.120
Subject: PERSONAL FINANCE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2015-05-27 COMMENT Whitecap Resources
WCP-T
Bill Bonner

This remains one of his more secure dividend paying models. Have done an absolutely brilliant job on the acquisition front. Payout ratio remains very low amongst its peers. They are keeping their costs under control. He likes to add on weakness whenever he can. 5.4% dividend yield.


Price: $13.710
Subject: CANADIAN ENERGY
Bias: UNKNOWN
Owned: Yes
2015-05-27 BUY iShares MSCI Europe IMI Index ETF (CAD-Hedged)
XEH-T
John DeGoey

It is an IMI index, which he likes.  It has large, mid and small cap names.  It is a great way to increase your expected return.  He uses similar funds.


Price: $23.400
Subject: PERSONAL FINANCE & ETFs
Bias: DEFENSIVE
Owned: No
2015-05-27 DON'T BUY iUnits S&P Financial
XFN-T
John DeGoey

His concern is with the sector.  Financial services make up a ridiculous amount of the TSX.  The product is excellent and does what it is supposed to do, but he would not buy it because financials make up so much of the index.


Price: $31.480
Subject: PERSONAL FINANCE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2015-05-27 PAST TOP PICK iShares S&P/TSX Capped Comp. ETF
XIC-T
John DeGoey

(Top Pick May 1/14, Up 6.23%) Has a lot of mid and small cap names.  It should do better than XIU-T but he would expect the volatility to be higher.


Price: $24.005
Subject: PERSONAL FINANCE & ETFs
Bias: DEFENSIVE
Owned: Yes
2015-05-27 PAST TOP PICK iShares MSCI EAFE (CAD-Hedged) ETF
XIN-T
John DeGoey

(Top Pick May 1/14, Up 20.85%) People are reluctant to go in because of Greece and so on, but it has done quite well.


Price: $25.860
Subject: PERSONAL FINANCE & ETFs
Bias: DEFENSIVE
Owned: Yes
2015-05-27 PAST TOP PICK iShares S&P 500 (CAD-Hedged) ETF
XSP-T
John DeGoey

(Top Pick May 1/14, Up 15.25%) It is hedged.  He is indifferent right now about hedging but it was beneficial until now.


Price: $24.630
Subject: PERSONAL FINANCE & ETFs
Bias: DEFENSIVE
Owned: Yes
2015-05-27 TOP PICK iShares Exponential Technologies ETF
XT-N
John DeGoey

It is positive disruption such as nano-technology.  It is a new product that just started trading.


Price: $26.447
Subject: PERSONAL FINANCE & ETFs
Bias: DEFENSIVE
Owned: No
2015-05-27 BUY BMO Canadian Dividend ETF
ZDV-T
John DeGoey

These are Canadian companies that are paying the dividend.  You get preferential tax treatment.  The companies won’t grow that quickly, but could drop quickly.


Price: $17.200
Subject: PERSONAL FINANCE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2015-05-27 BUY BMO Equal Weight US Banks Hedged to CAD ETF
ZUB-T
John DeGoey

Banks in the US are not a massive part of the economy.  Equal weighted is not a bad way to manage the risk.  It is not a bad place to be.  People like the story of US banks and think it has a couple of years to go.


Price: $21.460
Subject: PERSONAL FINANCE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2015-05-27 COMMENT BMO Covered Call Utilities ETF
ZWU-T
John DeGoey

Caller was at 10%.  He feels this is okay for an ETF and so the caller should not add to or reduce his position.


Price: $15.110
Subject: PERSONAL FINANCE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2015-05-26 N/A A Comment -- General Comments From an Expert
A Commentary
James Hodgins

Markets. If you presume that zero percent interest rates are going to continue, you could say valuations are fair, but on the high-end of fair. If there is a rise in interest rates or some kind of recession or demand downturn, then valuations are very stretched. Historically, looking at the Schiller Cyclically Adjusted PE, we are really at the highest level, with only the 2000 tech bubble peak being higher. We are at very high margins and we have very high valuations. He is cautious, but has been so for a long time. The counterbalance is that central banks have been so aggressive going back to 2001-2002. As long as money printing is the flavour of the day for central banking, it is tough to be too negative on risk assets.


Price: $0.020
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: _N/A
2015-05-26 COMMENT A Comment -- General Comments From an Expert
A Commentary
James Hodgins

Canadian Banks. Doesn’t trade banks, but he has to have an opinion on the financial sector in order to position his portfolio. Canadian banks are probably okay in the next 6 months. However, the Canadian economy, particularly the consumer economy, is highly levered and addicted to very low interest rates. If interest rates rose 2%, think about what would happen to the average homeowner. The same with lines of credit and all the other types of loans that are out in the economy. If there is ever a sense that the Bank of Canada is going to start raising interest rates, there is going to be a shock to our economy, particularly to the financial side.


Price: $0.020
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: No
2015-05-26 N/A A Comment -- General Comments From an Expert
A Commentary
Norman Levine

Markets. We are long overdue for a correction, especially in the US market. What he calls “free money” has really propelled markets higher than they should be. Interest rates are very low in North America, and in Europe some of them are even negative. Investors have been looking for places where they can actually earn something on their money, and have been looking at stocks, mostly dividend paying stocks. In the short term, that has pushed things beyond where they should be. He is hoping for a nice 10% correction where he has some cash that he can put to use. It is healthy to have corrections along the way. He thinks oil is going to go down again and the US$ will pick up, so that the Cdn$ and other currencies will go down again. He is still seeing attractive opportunities in Europe and Asia. Also, Australia is a market where he can invest without having currency risks. He is carrying about 10%-15% in cash.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: _N/A
2015-05-26 COMMENT Alcoa
AA-N
Norman Levine

If he had to own a commodity, aluminum might be one that he might want to look at. The problem with this company is that aluminum is the one commodity that they actually make and export out of China. He wouldn’t have too much money in commodities at all right now.


Price: $12.760
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-05-26 COMMENT AutoCanada Inc.
ACQ-T
James Hodgins

Has a small Short position in this. Have a lot of Western Canadian exposure, which is likely going to pressure their sales. Expectations for a rebound are probably overstated on the street. Thinks analysts estimate earnings are going to come down, which will keep the stock under pressure.


Price: $41.700
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Yes
2015-05-26 DON'T BUY AGF Management (B)
AGF.B-T
Norman Levine

Money management, overall, is a growth business, but not so much for this company. They have had terrible performance. They’ve lost assets and money managers. This is a nepotism company.


Price: $7.010
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-05-26 TOP PICK Badger Daylighting
BAD-T
Norman Levine

This went from being a dividend play, to being a value play, to being a growth stock, to being a momentum stock. Once the wind was taken out of the momentum stock, he started to become more interested again. It has come down a lot because about half of its revenue and earnings comes from the energy area. They have been successful in 2 things. 1) Moving their trucks away from energy towards utility and other areas and 2) growing their presence in the US. Earnings from the US are starting to come through. Dividend yield of 1.24%.


Price: $28.940
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-05-26 TOP PICK Bank of Nova Scotia
BNS-T
Norman Levine

This is his only Canadian bank. It is the cheapest of the Canadian banks, with the second-highest yield of 4.24%. Investors don’t like the fact that it has a lot of operations in Latin America and in Asia, whereas he loves that. That is going to be where the growth is. He doesn’t want a bank that has a lot of Canadian exposure because of headwinds on weak energy prices.


Price: $64.210
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-05-26 PAST TOP PICK CCL Industries (B)
CCL.B-T
Norman Levine

(A Top Pick June 23/14. Up 41.61%.) A Canadian-based multinational consumer products company in the packaging business. The biggest label manufacturer globally, but is also in the aluminum can, plastic laminate tube business. Its customers are the premier consumer product companies. Based in Canada and reports in Canadian dollars, but most of its revenues are in US dollars and Euros. Made some very good acquisitions and thinks it is set for another major acquisition. The dividend is growing every year, and sometimes twice a year. He sees this as a $200 stock going forward.


Price: $144.740
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-05-26 COMMENT Cameco Corporation
CCO-T
James Hodgins

He holds a small position. Thinks uranium has likely bottomed. Japan is slowly likely to come back online. Sentiment around the sector is improving. Thinks this is fine here. If he is right, and the sentiment improves in the sector, this could be a decent investment in the next 6-12 months.


Price: $18.760
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Yes
2015-05-26 COMMENT Canadian Pacific Rail
CP-T
Norman Levine

It looks like in the near term the rails are going through a rough period. Canadian rails have benefited greatly from carrying oil to the US. As the price of oil has come down, there hasn’t been as much shipped. This is a short-term thing and the rails are probably underperforming in the near term. In the long term, he still likes them. Prefers Canadian National (CNR-T), but this is a fine company.


Price: $216.030
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-05-26 COMMENT Crescent Point Energy Corp
CPG-T
Norman Levine

This is a serial acquirer and issuer of shares. This works great for investment bankers, but not as great for shareholders over time. They have had a tendency of buying in areas that are contiguous where they already have operations. He liked them when they were not buying and issuing shares. Recently sold his holdings.


Price: $29.820
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-05-26 COMMENT DirectCash Payments Inc
DCI-T
James Hodgins

Has a Short position, basically because their fundamental business, non-bank ATMs, is in decline. There is a lot of competition and people are using other payment methods. Expects the decline, at some point, is going to accelerate. When that happens, the 8.8% dividend will be unsustainable.


Price: $16.260
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Yes
2015-05-26 COMMENT Walt Disney
DIS-N
Norman Levine

This will be a major beneficiary of increased consumer spending when it comes. They have some blockbuster movies coming which will probably do well. A negative for them is the strength of the US$, which will hurt it for foreign visitors. As far as Canadians buying US shares, it is difficult because the dollar is down at around $.80. The dollar looks vulnerable here, so it could be a plus to own this.


Price: $109.440
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2015-05-26 COMMENT Enbridge
ENB-T
Norman Levine

The political environment towards pipelines has not being good. This is an interest rate play, and as investors expect interest rates to go up, this will not be a good area going forward.


Price: $60.520
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-05-26 TOP PICK Equity Financial Holdings
EQI-T
James Hodgins

(A Top Pick June 20/14. Down 9.95%.) The story has not changed. They hired a new CEO and have spent the last year rebuilding the talent base in terms of mortgage originations within the company. Trades below its Book Value, only because the mortgage book shrank over the past year because no one was selling mortgages. They have now re-staffed, so you are going to start to see the mortgage book grow again, which he expects to happen this quarter. When that happens, and the market sees that turn, it is going to start pricing in looking forward. Could see a double in 2-3 years with very little risk.


Price: $9.060
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Yes
2015-05-26 BUY Fairfax Financial
FFH-T
James Hodgins

The one thing you know you are getting with this company is a pretty sharp financial operator running the show. You are also effectively buying downside protection on the economy. He understands they have $10 billion in Puts on the CPI, so they are betting on a low or negative inflation.


Price: $617.500
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Yes
2015-05-26 COMMENT Fluor Corp.
FLR-N
Norman Levine

World’s largest construction/engineering company. The whole group has been under pressure and has not been doing too well. Within that group, he far prefers SNC Lavalin (SNC-T) because it has been hurt, not only by the global slowdown, but by the scandals which are now moving behind them, and he sees lots of good growth for them. He would look at SNC as one that has lagged and will outperform. Getting a lot of good contracts.


Price: $56.630
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2015-05-26 COMMENT Fortis Inc.
FTS-T
Norman Levine

His preferred utility has been Emera (EMA-T). Fortis used to be called Canada’s growth utility, which they have now ceded to Emera. There is nothing wrong with Fortis, but there is nothing exciting there. He feels both of them are a bit stretched. Both have been beneficiaries of the quest for yield. If interest rates go up it will tend to hurt utilities.


Price: $37.360
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-05-26 DON'T BUY Corning Inc
GLW-N
Norman Levine

Sold his position in the last few weeks. In the near to medium term it has probably seen its best.


Price: $21.210
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-05-26 COMMENT Goodyear Tire
GT-Q
Norman Levine

This has a low P/E ratio because it is a cyclical stock. It has benefited from the price of oil. Its biggest raw material in making tires is oil. Also, you use tires to drive and as the price of gasoline goes down, miles driven goes up so the replacement of tires goes up. This will probably continue to do well.


Price: $31.990
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-05-26 PAST TOP PICK GuestLogix
GXI-T
James Hodgins

(A Top Pick June 20/14. Down 37.8%.) Over promised and under delivered. Had reported they had doubled their backlog, and he felt that as they delivered on that backlog, the stock would go up with that. Some of those contracts disappeared and the rest had not been nearly as profitable as some of their prior contracts. Some activists have now evolved to try and fix that. When he sees one of his positions miss their high expectations, that’s when he exits.


Price: $0.790
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: No
2015-05-26 TOP PICK Innova Gaming Group
IGG-T
James Hodgins

There is no coverage on the street as yet. Once that happens and it gets more publicity, it will go higher as it gets better known. They make video lottery terminals that the OLG and Lotto Quebec are putting in bingo halls. Also, have 4 states that are trying them out. They provide a slot machine like experience. They get really good traction and share the revenue effectively with the OLG. It is a recurring revenue model. He has them trading on a forward basis at 4.5X EBITDA, which he thinks is way too cheap. OLG is planning on expanding this pretty quickly throughout Ontario, and maybe even trying it in bars as well.


Price: $3.960
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Yes
2015-05-26 DON'T BUY Kelso Technologies Inc
KLS-T
James Hodgins

This was a hot stock in the crude by rail sector. That bubble is now over. However, this company has technology that increases the safety. He thinks that adoption will continue, but at a slower pace.


Price: $4.340
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Unknown
2015-05-26 PAST TOP PICK Kone Oyj
KNEBV-OMX
Norman Levine

(A Top Pick June 23/14. Up 27.84%.) Elevators and escalators basically have 2 businesses. One is new installations and the other is service. For new installations this probably has the biggest exposure of all the elevator/escalator companies to China. Growth in China has started to cool down some. In North America and Europe, it has big exposure to service contracts. This is probably going to get a bit of cooling right now.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-05-26 COMMENT Manulife Financial
MFC-T
Norman Levine

Likes the lifecos better than the banks in Canada, but this is not one of the ones he is recommending. Prefers Sun Life (SLF-T) and Great West Life (GWO-T). This company is not bad, but just not as good as the others. Back in 2007-2009, they were over leveraged to stocks and bonds, and now they have under leveraged themselves, at a time when you might want to be more leveraged.


Price: $22.720
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2015-05-26 DON'T BUY Martinrea
MRE-T
James Hodgins

Have recovered from their problems of a couple of years ago. Auto sales have been incredibly strong both in North America and globally. This is a fine enough company, but feels we have reached a peak in auto sales. You are starting to see this in the inventory numbers of the manufacturers. He would stay away from the whole sector.


Price: $13.730
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Unknown
2015-05-26 HOLD Morneau Shepell Inc
MSI-T
Norman Levine

This has been a surprisingly great stock for him. They are in the pension benefits HR outsourcing business and it has done quite well. He doesn’t see the dividend growing much. They have been moving into the US, and growth has been coming out of the US markets. 4.4% dividend yield.


Price: $17.780
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-05-26 COMMENT Merus Labs International
MSL-T
James Hodgins

Still likes this and thinks there is a lot of upside to come. However, there is some risk in the near to medium term. They, along with everybody else, who manufactures and sells drugs in Germany, are subject to a price cap review, and there is likely going to be a cap put on the price of their key drug Enablex. They are diversifying away from this, but there is some near-term risk to the stock. In a 2-3 year timeframe, he thinks you are going to see 2 to 3 times on the stock. Definitely a buy for the long-term, but pick your spots. Loves the new CEO.


Price: $2.900
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Yes
2015-05-26 HOLD Open Text
OTC-T
James Hodgins

This pulled back on its earnings. They are trying to go more towards Cloud, but there is a lot of competition there and they are kind of a stock with more legacy software systems. While having poor earnings in the short term, they generate a tremendous amount of cash flow from their legacy products. It has been an acquisition machine historically, and have proven to be pretty good operators. If you are looking for a longer-term Hold, this is fine.


Price: $53.150
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: No
2015-05-26 COMMENT Patient Home Monitoring
PHM-X
James Hodgins

Raised quite a bit of capital and have been highly acquisitive. Have also been pretty successful in driving organic sales growth by cross-selling their products. Effectively they buy home medical products that have big patient lists, which they can then go and cross sell to the other products. They just keep acquiring and doing this. Trading at something like 3 to 4 times forward-looking EBITDA. There are good things happening with this company.


Price: $1.560
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Unknown
2015-05-26 PAST TOP PICK Pall Corp.
PLL-N
Norman Levine

(A Top Pick June 23/14. Up 46.34%.) Being acquired. He will tender the stock when the takeover is done.


Price: $124.810
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-05-26 COMMENT Rio Tinto
RIO-N
Norman Levine

Doesn’t think this is a good time to have a lot of money in commodities. Part of the problem with this company is that it is in the iron ore business and the companies are all fighting for market share regardless of profits. He doesn’t like that type of business.


Price: $44.300
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-05-26 PAST TOP PICK TheScore Inc.
SCR-X
James Hodgins

(A Top Pick June 20/14. Up 94.29%.) Still likes this. Growth has been better than he had expected. Some of the things they are doing, like getting into daily fantasy sports and Esports, is going to continue to grow sales. They have quite a war chest of cash now, and wouldn’t be surprised to see them make an acquisition. At some point he could see them launching in Europe, which would be pretty interesting. They have a very valuable user base.


Price: $0.660
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Yes
2015-05-26 COMMENT Spectra7 Microsystems Inc
SEV-X
James Hodgins

Interesting and thinks there is a window here for some nice momentum. Have wired tethers that run high-speed data over short distances, and he believes designed into the Oculus Rift headset, the Facebook virtual reality game. Ultimately he thinks those headsets will go wireless. Thinks there could be a nice ramp up on this over the next year.


Price: $0.590
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Yes
2015-05-26 TOP PICK SGS SA
SGSN-VX
Norman Levine

Trades on the Zürich stock exchange as well as the pink sheets in the US. The biggest in the test, measurement and verification business globally. When companies produce products, commodities, etc. their laboratories make sure that what they are selling is what they said they are selling. Hasn’t been a good performer in the last little while, which caught his attention. Replaced the CEO in the 1st quarter of this year and he thinks the new CEO is going to help their Chinese business. He is also a cost cutter. The dividend grows on a regular basis.


Price: $0.010
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-05-26 HOLD Sandvine Corp.
SVC-T
James Hodgins

He likes this and thinks it is pretty interesting here. It has been kind of flat-lining here recently because of the FCC decision on Net Neutrality which was against what this company’s product tries to achieve for carriers, i.e. to differentiate the packets and allow for different speeds and different access for different data streams. They also have a wireless side which is growing fast. Have an upgrade cycle going on right now that is pretty positive. Would look to buy on a pullback, or if the fundamentals materially improve.


Price: $4.190
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Yes
2015-05-26 HOLD Symbility Solutions
SY-X
James Hodgins

On his watch list. They do technology solutions for property/casualty insurers. Lost their largest customer over a year ago, but since then have done a lot of smaller sales, mostly out of Europe. Recently acquired their European distributors so are effectively cutting out the middleman. That should help with margins. In all of the due diligence he has done, it indicates they have the best technology in their space.


Price: $0.320
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: No
2015-05-26 COMMENT Telus Corp
T-T
Norman Levine

Has liked the telecom area. His chosen company has been Bell Canada (BCE-T). This company has also been an excellent one. However, it does have a bigger exposure out west, especially in Alberta. The whole group will suffer when interest rates go up.


Price: $42.350
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-05-26 COMMENT Twin Butte Energy
TBE-T
James Hodgins

At current energy prices, this company is not all that economic. However, they have about half of this year’s production hedged out at $85 oil. It is not going to go to zero any time soon, but at the end of the day they are going to need energy prices to rebound by next year. Yield of 14.8%, which tells you something.


Price: $0.810
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: No
2015-05-26 COMMENT Teck Resources Ltd. (B)
TCK.B-T
Norman Levine

This is the only mining stock that he owns. This is more in metallurgical coal, zinc and copper. Most of its mines are in friendly environments. It prudently cut its dividend recently, rather than borrowing. It will come back when profitability comes back.


Price: $14.740
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-05-26 BUY Tricon Capital Group
TCN-T
James Hodgins

Likes this quite a bit. Pulled back most recently because of the rebound in the Cdn$ relative to the US$ over the last week or so. That seems to be reversing again. They own rental properties in the US, particularly in the South. Have been very good operators. Continue to add to your holdings as they have delivered some nice returns and he doesn’t think interest rates are going to go up anytime soon, so the housing market in the US should be stable. Also, feels the company will continue to benefit from the trend in the Cdn$.


Price: $10.780
Subject: SMALL & MID-CAP
Bias: CAUTIOUS
Owned: Yes
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