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

Recent Opinions

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Date Signal Company Expert Opinion Price
2017-09-15 COMMENT Trinidad Drilling Ltd
TDG-T
Eric Nuttall

A merger between Precision Drilling (PD-T) and Trinidad (TDG-T)? Thinks you can make the thesis to own either one with a preference to pressure pumping, without necessarily making the bet that you are going to see M&A. The biggest argument is personalities.


Price: $1.700
Subject: ENERGY
Bias: BULLISH on ENERGY
Owned: Unknown
2017-09-15 COMMENT Tahoe Resources
THO-T
Dennis da Silva

Had a court injunction to shut down their big silver mine in Guatemala, which is about half their NAV, but recently won a decision to bring it back on. They are fighting locals who now have road blocks up, so timing is hard to tell how aggressive they want to get to move the protesters. He got out because he saw better value in other places. He would revisit this once there is more clarity.


Price: $6.700
Subject: RESOURCE
Bias: OPTIMISTIC
Owned: No
2017-09-15 COMMENT Turquoise Hill Resources
TRQ-T
Dennis da Silva

A Mongolian project with single assets. For all intents and purposes, it is a public controlled vehicle of Rio Tinto (RIO-N), which owns 51%. A low grade large deposit with lots of growth going down the road as they develop the underground portion. It is currently open pit. Feels it is fairly valued. Sensitive to copper.


Price: $3.760
Subject: RESOURCE
Bias: OPTIMISTIC
Owned: No
2017-09-15 COMMENT Trevali Mining Corp
TV-T
Dennis da Silva

A very unique way to play a fantastic zinc market. Zinc has gone from about $.80 in the last year to almost $1.40. It has been the premier performer in the base metals bulk materials space over the last 1.5 years. The largest pure zinc producer globally. Just did a big deal with Glencore, basically more than doubling its production, adding some West African assets. The cost structure is probably around $.85-$.90 a pound, versus price which is at almost $1.40. The balance sheet is in great shape. The only concern he would have is, are they spread too much?


Price: $1.370
Subject: RESOURCE
Bias: OPTIMISTIC
Owned: Yes
2017-09-15 DON'T BUY Vermilion Energy Inc
VET-T
Eric Nuttall

One of those favoured few companies with unquestionably high asset quality. A management team that lets you sleep well at night. Payout ratio is fairly sustainable, and has the benefit of international diversification. Their multiple has held up much better than some of their peers, so not a name he would buy. Dividend yield of about 5.8%.


Price: $44.900
Subject: ENERGY
Bias: BULLISH on ENERGY
Owned: No
2017-09-15 COMMENT Yamana Gold Inc.
YRI-T
Dennis da Silva

Trading cheaper than its peers. Has a good, low cost structure for its gold, but more leveraged than desired. Feels the street is looking for better consistency of generating free cash flow. Thinks the Brazilian assets that went into Brio was a bit of a difficult process to get off the books, and they still own shares of Brio and will slowly drift that out into the market. Feels there is an elevated level of execution risks. Have done a good job of trying to hive out some of the higher cost assets and try to refocus around 3 core assets. At this point, it’s a “wait and see” to restore confidence.


Price: $3.510
Subject: RESOURCE
Bias: OPTIMISTIC
Owned: No
2017-09-14 N/A A Comment -- General Comments From an Expert
A Commentary
Paul Macdonald

Market.  He is not so much into single drug companies that are into single home runs.  He likes diversified healthcare companies.  Companies have not traded at a discount to the markets since ’08.  Companies are chugging forward and improving.  We are seeing a pinnacle coming of the $billions in spending of R&D and we will see the benefit for the next couple of years.  3 to 5 years out we are past the patent cliffs of the past.  He follows some of the healthcare REIT large caps in the US and few of the smaller in Canada.


Price: $0.200
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: _N/A
2017-09-14 N/A A Comment -- General Comments From an Expert
A Commentary
Bruce Campbell (2)

Economy. Economic indicators have been streaming fairly strong through the last 18 months or so, and he can see them strengthening here. He likes to watch the City Economic Surprise Index. It tends to move in waves which are probably 6 to 9 months long. We are about 3 months into the up wave, so we have about another 6 months to go to see what happens on the down wave. Has moved to a defence positioning back in March, based on a lot of the market technical indicators. Lately, he started seeing some of the shorter and leading indicators starting to improve. This is probably around sector rotation as well as relative valuation between Canada and the US. He was about 40% cash 6 weeks ago, and is now about 25% cash.


Price: $0.020
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: _N/A
2017-09-14 BUY AbbVie Inc.
ABBV-N
Paul Macdonald

You absolutely have to hold on to it if you have a 2 year outlook.  Humera is the largest selling drug in the world.  They are forever in patent disputes.  They have taken this cash cow and used the proceeds to reinvest in their pipeline.  They have a great balance sheet and a great yield.  We are seeing great results from their trials.  It should have double digit growth and should be at 15 times.  It should consolidate higher than where it is.


Price: $89.220
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Unknown
2017-09-14 HOLD Air Canada
AC-T
Bruce Campbell (2)

Has done phenomenally well over the last 1.5 years. We are starting to see real efficiencies in the business. This airline has an investor day coming up next week, and most analysts are expecting they are going to have some type of announcement about some innovative business they are going to do. The stock is reasonably valued, and technically it is very strong. He is continuing to hold this.


Price: $23.810
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2017-09-14 COMMENT Alaris Royalty
AD-T
Bruce Campbell (2)

This has been really timely and topical of late, because of a short report that came out, where they were called into question on what they were doing, which was followed by them announcing their biggest royalty deal yet. Over the last 18 months, it had a number of their royalty payments that haven’t been too successful. It has been a little slower than what the street would have liked.


Price: $20.880
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Unknown
2017-09-14 TOP PICK Allergan PLC.
AGN-N
Paul Macdonald

They are known for Botox.  Aesthetics is a big part of their business as well as a great urology business and Gastro Intestinal business.  They sold their urology business and reinvested their cash into R&D.  It is very inexpensive.  (Analysts’ target: $271.50).


Price: $223.700
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 HOLD Amgen Inc.
AMGN-Q
Paul Macdonald

They create drugs similar to other bio-similar drugs.  The competitive threats in biologics are a little bit similar.  They got approval this morning for a biologic drug.  He would like to see them consolidate here.


Price: $189.440
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Unknown
2017-09-14 PAST TOP PICK Anthem Inc
ANTM-N
Paul Macdonald

(Top Pick Feb 22/17, Up 17%)  They are a pure play on health insurance in the US.  They are a leader in 14 states on blue cross and blue shield.  Technicians should grin at this chart.


Price: $186.750
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 COMMENT Aphria Inc
APH-T
Bruce Campbell (2)

If you went back to when the original companies first came out, this is the one that probably had the strongest management team. If you believe highly in the sector and are a buy and hold investor, you buy this and hold it, and it will be worth a lot more down the road than it is today. He has been out of this, but is back in it again.


Price: $6.290
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2017-09-14 TOP PICK Avigilon Corp
AVO-T
Bruce Campbell (2)

Makes high definition security cameras. They originally started mostly on the hardware side, but now are really starting to move into the software side. The artificial intelligence they have and the bundle between hardware and software is becoming more user-friendly, saving their users a lot of time and labour as well. (Analysts’ price target is $20.)


Price: $17.890
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2017-09-14 BUY Astrazeneca P L C
AZN-N
Paul Macdonald

It is rare he has puts on in his fund, but he does on this one.  They have declining revenues, but a huge amount of data coming out about the next 12 to 18 months.  We have seen the tip of the iceberg.  He still likes it.  It is not terribly expensive and has a high dividend.  Own it with others for diversification.  M&A would not surprise him in big pharma soon.


Price: $32.620
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 HOLD Becton Dickinson
BDX-N
Paul Macdonald

He reduced some of his med-tech in January.  Almost every type of object that is used in the medical world is in their catalogue.  He wants to see how their acquisitions work out.  It is on his radar, but you are probably okay to hold it right now.


Price: $197.600
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: No
2017-09-14 COMMENT Bewhere Holdings Inc
BEW-X
Bruce Campbell (2)

Has interesting technology that started with Bluetooth and is with a Sim card and cell phone connection so that you can monitor different things. The company is gaining a lot of traction, both from Bluetooth and from the Internet of things mobile side. This is one to keep on your radar and watch, because they are onto something interesting and it is a big, big business.


Price: $0.345
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Unknown
2017-09-14 DON'T BUY Biogen IDEC Inc.
BIIB-Q
Paul Macdonald

It has a large franchise in MS which comprises 75% of their business.  He is seeing potential threat to this franchise from two companies.  Their Alzheimer’ drug comes to trial in 2019 and has high risk.


Price: $323.660
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Unknown
2017-09-14 COMMENT Bank of Montreal
BMO-T
Bruce Campbell (2)

If you are a long-term investor, you can’t go really too far wrong with Canadian banks. They tend to be these really solid, steady growers. The multiples contract and expand. Banks have some of the best dividend growth history out there. If you are buying for a long-term dividend growth, it is one you just buy and tuck away.


Price: $91.890
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Unknown
2017-09-14 WATCH Bristol Myers Squibb
BMY-N
Paul Macdonald

They will be quite volatile.  He likes it.  There is a trial coming out in January of next year.  It trades at 19 times forward earnings and a little ahead of peers.  He would own it in combination with others to balance out the risk. 


Price: $62.690
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Unknown
2017-09-14 DON'T BUY Baytex Energy Corp
BTE-T
Bruce Campbell (2)

Has been in the hurricane in Eagle Ford, have a huge debt, and with the recent increase in oil, there has been about a 10% pop in the share price. Buy, Sell, Hold or Short? At this point in time, he would not go into this. They have a fairly big debt position. They don’t manage their Eagle Ford operations, but own them with Marathon which is doing all of the operations. Any time oil ramps up, their leverage is going to help them out, but it also goes the other way as well.


Price: $3.430
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: No
2017-09-14 TOP PICK Grande West Transportation Group
BUS-X
Bruce Campbell (2)

The stock ran up and made a nice move in anticipation of everything happening, and now it is sort of execution for the management team. The stock pulled back giving it a really attractive entry point. They are now aggressively moving into the US with their US partner taking bus orders and starting to sell. There is also lots of room for growth in Canada. The US has 2 markets, municipalities and the private market for rental car, transportation at the airport, etc. Management guides towards 200 buses out the door this year and 300 for next year. (Analysts’ price target is $3.83.)


Price: $2.570
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2017-09-14 COMMENT CAE Inc
CAE-T
Bruce Campbell (2)

Over the last 4 weeks or so, the stock has dropped in his rankings, which is based on valuation, as well as some numbers he puts in. He doesn’t have any specific reason as to why it has dropped off.


Price: $19.810
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Unknown
2017-09-14 COMMENT Cannabis Wheaton Income
CBW-X
Bruce Campbell (2)

They’ve put together an amazing team, and seems to have covered all the bases. What the Street and investors don’t like is all the murkiness behind who got the really, really cheap shares, and as to how much the stock price has gone up. Expects it will remain penalized for a while.


Price: $0.900
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Unknown
2017-09-14 PAST TOP PICK Celgene Corp
CELG-Q
Paul Macdonald

(Top Pick Feb 22/17, Up 19%).  They have a blood cancer drug.  They are testing it on all kinds of other indications.  They have the ability to double the revenues based on their existing products.  It is the more growthy component of his portfolio.


Price: $140.610
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 COMMENT Chorus Aviation Inc
CHR-T
Bruce Campbell (2)

His style is to be active and trade in and out of this kind of stock. If you are a longer-term investor, you will probably be fairly happy with this company over a longer period. They have a fairly established base, because they have these billable block hours from Air Canada (AC-T), and now are starting to grow in other areas. Has a good dividend yield of 5.7%.


Price: $8.540
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Unknown
2017-09-14 COMMENT Evertz Technologies Ltd.
ET-T
Bruce Campbell (2)

The stock has done really well. They continue to have a big backlog. Trading at a fairly high multiple, but considering their growth rate, it hasn’t been too bad. He has this on his radar screen.


Price: $18.850
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: No
2017-09-14 HOLD Gilead Sciences Inc.
GILD-Q
Paul Macdonald

They recently made an acquisition.  If Kyte was so great why did they sell out?  GILD has the ability to take them to market.  The knock on the stock has been this cash cow and not reinvesting in their pipeline. They are not into oncology.  Novartis got approval on a similar drug recently and that drove the stock higher.  You are okay to hold this here.  Let’s get through this November date.


Price: $82.290
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 HOLD GlaxoSmithKline PLC
GSK-N
Paul Macdonald

He has this in his high yield portfolio.  GSK-N has their well established pharma and then their Nicolette and other consumer lines.  They are getting rid of non-core assets.  There is not a lot of growth, but a modest dividend. 


Price: $40.350
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 PAST TOP PICK goeasy
GSY-T
Bruce Campbell (2)

(A Top Pick Sept 21/16. Up 27%.) Continues to be a nice business. They keep executing really well. Do loans to people who don’t have the best credit, so loan rates are really high. They’ve recently gone into Québec. Trading at a great valuation.


Price: $29.470
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: No
2017-09-14 COMMENT Hamilton Thorne Ltd
HTL-X
Bruce Campbell (2)

This is in intro fertilization, and they supply a lot of the supplies. Have been growing both organically and by acquisition. Thinks it will continue to make acquisitions.


Price: $0.740
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2017-09-14 BUY Johnson & Johnson
JNJ-N
Paul Macdonald

He is going to continue to hold this because the long term potential is fantastic.  Remicade came off patent this year and had a slippage this year more than the street expected.  You have your JNJ baby labels, shampoo and big pharma and then all of your medical devices.  They are quite diversified.  You need to see some backfill on the bottom line really justify the next leg up. 


Price: $134.180
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 COMMENT Linamar Corp
LNR-T
Bruce Campbell (2)

He owns this, but is watching it very carefully to make sure the fundamentals and technicals continue to be strong. With the US 17 million annualized seasonally adjusted sales in autos, he thinks we could be getting close to a peak. The company has been very good at growing its business in good times and bad. This is one you want to watch closely.


Price: $71.850
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2017-09-14 DON'T BUY McKesson Corp
MCK-N
Paul Macdonald

He sold last year.  They are one of the bigger drug distributors.  They own Rexall.  They diversified their business.  They are mostly a wholesale drug distributor, taking the drug from the manufacturer to the hospital or retail pharmacy.  He is bothered by generic pricing.  Drug spending is about 10% of healthcare expenditures.  The next leg of political rhetoric is the pharmacy benefit managers and distributors.  This is his favourite, but he is on the sidelines.


Price: $151.680
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: No
2017-09-14 TOP PICK Merck & Company
MRK-N
Paul Macdonald

He likes their leadership in drug therapies.  They have their HEP-C and diabetes franchises.  It is an easy hold for him.  They are well diversified.  They are number 3 in animal health products.  It has a PE of 15.5 times next year’s earnings.  (Analysts’ target: $70.00).


Price: $66.120
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 PAST TOP PICK Merck & Company
MRK-N
Paul Macdonald

(Top Pick Feb 22/17, Up 3%)  It has traded in line with others.  It is a wonderfully run company with a deep pipeline into diabetes and arthritis.  They are in the forefront of immunotherapies for arthritis.  They are the leaders.  15.5 times forward earnings.  It should trade in a double digit PE.  He likes it for leadership and diversification. 


Price: $66.120
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 HOLD Novartis AG
NVS-N
Paul Macdonald

They are joint ventured with Merck.  Their oncology business is growing.  Their dividend is stable.  They are big pharma and you won’t see as much growth out of it.  He is in it for the dividend.


Price: $85.830
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 COMMENT NYX Gaming Group Ltd
NYX-X
Bruce Campbell (2)

This has been growing fairly well, but certainly hasn’t worked out quite as well as management hoped. The market has been disappointed by the progress. The most recent quarter was disappointing for the street. He continues to hold this. Any time it dips down to the $1 range, he buys stock back because longer-term it is going to continue being a growth business and bringing on more customers. As they rationalize all these transactions, and strip all the fat out, it will start to fire on all cylinders. You may have to be patient for a while.


Price: $1.120
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2017-09-14 BUY Pfizer Inc
PFE-N
Paul Macdonald

They have a ability to be a global commercialization machine.  They have 125 drugs that generate in excess of $100 million in revenue.  It is on the uptick after passing the patent cliff.  It does have a whole lot of pipeline excitement over the next couple of quarters, but it has a 12.9 times forward earnings with a 3.9% dividend yield. 


Price: $35.730
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 COMMENT Patient Home Monitoring
PHM-X
Bruce Campbell (2)

Right now, they are waiting for some regulatory information to come back, both from a tax perspective as well as a market perspective, when dealing with the regulators. Once that comes out, then it will go to a shareholder vote to split the company up. Thinks they have turned the corner and have started to execute very well. Have had 3 quarters of growing earnings and generating cash flow and higher revenue. Stock is super cheap.


Price: $0.310
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Unknown
2017-09-14 COMMENT Photon Control
PHO-X
Bruce Campbell (2)

An interesting and very profitable company. They went through quite an issue with management. Previous management had made a loan to a business of their own, which had a lot of murkiness to it. New management cleaned it up, and now it is just a function of executing. They have a really strong balance sheet. The stock has been building a base, and as the next quarter or 2 comes out, he expects you will start to see improvements. It is just starting to show up in some of the leading technical indicators that he watches.


Price: $1.390
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Unknown
2017-09-14 COMMENT Parkland Fuel Corp
PKI-T
Bruce Campbell (2)

This has been growing over the last few years. He has it on his radar screen.


Price: $26.750
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: No
2017-09-14 COMMENT Rogers Communcations (B)
RCI.B-T
Bruce Campbell (2)

They are going to need new devices for their network. Everybody seems to have a cell phone and are carrying it around. They are going to need new Sim cards on the network to charge with. That is going to be the next phase of growth. It is probably 6-9 months away before you will see this ramp up.


Price: $62.900
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Unknown
2017-09-14 COMMENT Radient Technologies Inc.
RTI-X
Bruce Campbell (2)

The extraction business is interesting because there are a lot of different forms they are using. This company has an interesting technology where they use microwave instead of flammable gas or CO2. It sounds very promising. Hasn’t looked into the details that closely. Aurora (ACB-T) has made a big investment into the company.


Price: $0.495
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Unknown
2017-09-14 COMMENT StorageVault Canada
SVI-X
Bruce Campbell (2)

From when management changed, about a year or 2 ago, the stock has been going straight up. They recently did an equity offering which put a cap on the stock, and the stock price has consolidated. Technically, it looks like it has built a fairly good base. Longer-term, he thinks the stock goes a lot higher. The business is a fantastic growth business. Thinks they will continue growing organically. A very fragmented business and there is no other big public competition in Canada.


Price: $2.230
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Unknown
2017-09-14 BUY Stryker Corp.
SYK-N
Paul Macdonald

Hips, Knees and Ankles.  They are capturing market share.  He is seeing great take up here.


Price: $144.490
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 WAIT Teva Pharmaceutical
TEVA-N
Paul Macdonald

He got in in January.  It was hard to make that decision.  He sold because the outlook on generic drug prices became weak (down 8-10%).  A new CEO came in recently.  He does not like their business and does not know if it will decline further.  Wait and see if there is recovery.


Price: $18.360
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: No
2017-09-14 PAST TOP PICK Spin Master Corp
TOY-T
Bruce Campbell (2)

(A Top Pick Sept 21/16. Up 31%.) In the long-term, they have done a great job of coming out with innovative toys that the market likes. They’ve also made some interesting acquisitions and continue to diversify their product line.


Price: $44.150
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2017-09-14 TOP PICK UnitedHealth Group Inc
UNH-N
Paul Macdonald

The dominant player in health insurance in the US.  They have a pharmacy benefit manager.  They are squeezing down costs and gaining business.  (Analysts’ target: $214.00).


Price: $197.730
Subject: HEALTHCARE
Bias: SELECTIVE
Owned: Yes
2017-09-14 TOP PICK Westport Fuel Systems Inc
WPRT-T
Bruce Campbell (2)

This continues to be a huge growth area in the liquid natural gas and liquid propane markets for bigger users. The company has said they are going to be profitable starting in 2018. (Analysts’ price target is $3.00.)


Price: $3.510
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2017-09-14 PAST TOP PICK Sleep Country Canada Holdings
ZZZ-T
Bruce Campbell (2)

(A Top Pick Sept 21/16. 0% return.) This has gone up and has come back down. Growth continues to be really strong. Same-store sales growth was 7%  and the multiple probably got a little ahead of itself. Also, there is more talk about the online “Bed in a Box”.


Price: $32.500
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: No
2017-09-13 N/A A Comment -- General Comments From an Expert
A Commentary
Michael Sprung

Market. There are some risks in the market right now, but they have been building for some time. We’ve had a long run of good markets without any significant pullback. No one ever knows where or when or why it is going to happen. You watch valuations and things begin to look a little more expensive, and it is harder to find things you are comfortable buying. Over the last 6-8 months, he has been a net seller as opposed to a buyer. Cash positions are building a little. It is probably prudent at this time in the cycle to have some cash on the sidelines in case you do see some sort of significant pullback, whether it is set off by a geopolitical event, an economic event.


Price: $0.020
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: _N/A
2017-09-13 COMMENT A Comment -- General Comments From an Expert
A Commentary
Michael Sprung

An ETF of Canadian large caps with a proven track record and growing dividends for an RESP? With a managed ETF, you are going to get a little more diversification. You could also do this by selecting a couple of sector ETF’s, and putting them together as sort of a complement. He would tend to do this with 2 or 3 different ETF’s, such as some that are exposed to Canadian financials, and then buying one that is partially exposed to some energy, and partially to some industrial.


Price: $0.020
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Unknown
2017-09-13 N/A A Comment -- General Comments From an Expert
A Commentary
Paul Gardner, CFA

Market. The Canadian economy roared ahead of 4.5% growth in the 2nd quarter, the TSX is not participating in the global rally. By the end of the year, Canada should probably flip, and outperform a little against the US and its global peers. Global demand has reached an all-time high for energy demand for oil. We are getting close to 100 million barrels a day which is somewhat positive. The numbers for most banks were stellar despite the low interest rate environment. There is a big sale going on in the utility spaces and energy-like yield spaces, and that has to be revalued. A lot of those types of businesses, which are actually incredibly stable, are sitting at 6%-7% yields, but you have 10-year bond yields at 2%. All boats will probably lift as long as we have synchronization of global growth.


Price: $0.020
Subject: REITs, BONDS AND DIVIDEND STOCKS
Bias: UNKNOWN
Owned: _N/A
2017-09-13 COMMENT A Comment -- General Comments From an Expert
A Commentary
Paul Gardner, CFA

Split $300,000 into 3 diversified dividend holdings with at least 4%+? Utilities are on sale, so you would have to take one third and buy a utility or an energy name such as Inter-pipeline (IPL-T) which gives you a 6%-7% yield. If you literally gave no valuation to the natural gas and liquids business, the payout is very conservative and you get 6%-7% guaranteed. His 2nd choice would be banks which is giving you a 4% yield. There is a case to be made on REITs because of the ultimate yields, but you are probably not going to get any more capital gains out of it.


Price: $0.020
Subject: REITs, BONDS AND DIVIDEND STOCKS
Bias: UNKNOWN
Owned: Unknown
2017-09-13 COMMENT Pure Industrial Real Estatetrust Trust
AAR.UN-T
Paul Gardner, CFA

He likes this company. Real estate has headwinds, but this company has a tailwind because it is industrial. Also, they are buying assets in the US which has extensive corridors with a population base where there would be some desired locations to own in the Midwest and in secondary cities. Yield is around 5%. They are pretty good at what they do. He would like to own this, but at the right price.


Price: $6.480
Subject: REITs, BONDS AND DIVIDEND STOCKS
Bias: UNKNOWN
Owned: No
2017-09-13 SELL Air Canada
AC-T
Michael Sprung

Hurricanes cause a disruption of services, but it is going to be temporary. You have to look at the bigger picture. Airlines appear to be facing more and more competition. Has always been wary of airline stocks as you are dealing with extremely expensive aircraft and largely unionized employees and a very competitive environment for price setting. Airlines have had a good run over the last while, and if he owned any, he would be taking profits.


Price: $23.590
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2017-09-13 TOP PICK Alaris Royalty
AD-T
Michael Sprung

Over the last 2 years, this company has had its share of setbacks, but most of that seems to be getting worked through. Recently one of the companies that provided a large chunk of their cash flow has redeemed, and people have been wondering what they are going to do. They’ve made the largest capital deployment in their history with the Sales Benchmark Index, which is a large consulting firm. That is going to go a long way. The key is that they put money into private businesses at a certain rate and then pay the dividends through to shareholders at a slightly lesser rate. Feels we are now going back on a path where there are going to be dividend increases going forward. Dividend yield of 7.7%. (Analysts’ price target is $24.)


Price: $20.930
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: Yes
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