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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
2016-06-27 WATCH Magna Int'l. (A)
MG-T
Larry Berman CFA, CMT, CTA

This has been underperforming for quite a while. At a minimum it has to test the February low of around $42. Wait for $42, and if it holds there, you could buy some, but if it doesn’t hold there you have another 10% below that at least.


Price: $44.000
Subject: NORTH AMERICAN & ETFs
Bias: CAUTIOUS
Owned: Unknown
2016-06-27 PARTIAL BUY Magna Int'l. (A)
MG-T
Gerard Ferguson

Because they produce auto components, they are susceptible to movements in the auto cycle. We have come off several very strong years in auto sales, and people are concerned that we are starting to see a peak in auto production, and are going to go through a couple of years of having a pullback. If so, this company will be affected. The events in Europe have compounded this problem, because they have a tremendous amount of business in Europe. His would start legging into names like this.


Price: $44.000
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2016-06-27 WAIT Magna Int'l. (A)
MG-T
Peter Brieger

One of his favourites, but doesn’t own it because of car sales in the US topping out at around 17 million. Europe is advancing a little. Wait for a further decline before buying.


Price: $44.000
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-06-27 BUY on WEAKNESS Monsanto Company
MON-N
Peter Brieger

The big story on this is the M&A craze going on in agricultural companies. The European situation has little effect on this company as Europe has only about 10% of their sales with the UK being about 2%. A fabulous company and one of his favourites. However, it is fairly close to its target price. The target one-year return is 5.4%, and a dividend of 2.1%, so you are looking at about 7.6%. The PE is 21.6X this year’s, so it is selling at a reasonable premium. He would like to see it come down closer to $90 before buying.  (See Top Picks.)


Price: $99.980
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-27 TOP PICK New Flyer Industries Inc.
NFI-T
Gerard Ferguson

They manufacture buses for intercity as well as city buses and have announced a large number of wins. A dominant player in an industry that has consolidated from 5 players into 3. Made an acquisition at about 6X EBITDA, and they trade at a higher multiple than that at 8.5X EBITDA. Feels they have been light on some of the synergies they are going to get from the acquisition, so will hopefully report better numbers and margins going forward, and beat the street estimates. Dividend yield of 2.46%.


Price: $39.040
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2016-06-27 COMMENT Paramount Resources
POU-T
Gerard Ferguson

Gas focused. Was one of the outliers last week. A debt laden company, but has a lot of levers it can pull. Improved last week as people got the impression that equity markets were once again open for companies to raise capital. He is not sure that applies to this company. The large shareholders in this company are much more interested in riding out the cycle as opposed to impairing their company with fire sale prices for their assets. Thinks it will be one of the preferred names to play in a recovering natural gas environment.


Price: $9.260
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2016-06-27 TOP PICK Royal Bank
RY-T
Peter Brieger

This only has about a 5% exposure to the UK and Europe, which is manageable. They recently took over City National of California, which had a fantastic wealth management business in California and New York State. It is their intention to increase this business as much is possible, and at the same time cross-sell products and services. Dividend yield of 4.31%. (On his 3 top picks, he would not necessarily Buy now, but watch the markets for your entry point.)


Price: $75.200
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-27 COMMENT Silver Wheaton
SLW-T
Gerard Ferguson

A royalty company, specifically on silver metal streams. Not a cheap stock, but it tends to be a safer metal stock because it is not exposed to mining risks. He likes the name. 


Price: $28.750
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2016-06-27 COMMENT Suncor Energy Inc
SU-T
Peter Brieger

Suncor (SU-T) or Canadian Natural Resources (CNQ-T). Doesn’t own this, but it is on his potential Buy list. Thinks very highly of management. If he had to choose just one, he would probably go with CNQ.


Price: $34.330
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-06-27 SELL Teck Resources Ltd. (B)
TCK.B-T
Larry Berman CFA, CMT, CTA

For years analysts, including him, have been negative on this. A long-term chart shows lower lows and lower highs. Now something is changing. Is this because of demand coming back for copper, etc., or a simply short-covering on a relief trade? He is more on the side of short-covering on a relief trade than new demand. For the next few years it probably bounces back and forth between $6-$10 on the low end and the recent highs. He doesn’t like it here, and would be a seller, and buy it back on a dip.


Price: $14.910
Subject: NORTH AMERICAN & ETFs
Bias: CAUTIOUS
Owned: No
2016-06-27 BUY on WEAKNESS Teck Resources Ltd. (B)
TCK.B-T
Gerard Ferguson

(Market Call Minute.) This is discounting a very strong improvement in copper and in coal prices. Thinks it has run a little further than it should have, so he would wait for a pullback.


Price: $14.910
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2016-06-27 COMMENT Tricon Capital Group
TCN-T
Gerard Ferguson

A well diversified real estate company. Have recently gone into prefab constructed homes in the US. His concern has been the migration they have taken into the different paths through the years. Feels they should now be selling off some of their holdings instead of going off into other areas. They probably have 80%-90% of their assets in the US. Even if the assets did not go up in value, there has been a tremendous currency move, making the assets at least 15%-20% more valuable. Have probably taken on too much at one time.


Price: $8.180
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2016-06-27 COMMENT Trican Well Service Ltd.
TCW-T
Gerard Ferguson

The resource service sector in Canada is quite tough right now. Well activity is way down. We have come off historic highs for drilling. That is both bad and good. Like most cyclical sectors, that is when you want to buy. The number of rigs in activity right now is historically very low. We are starting to see an increase in oil activity. This company has done a lot to improve its balance sheet. It is better positioned now to weather the storm.


Price: $2.070
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2016-06-27 PAST TOP PICK Toronto Dominion
TD-T
Peter Brieger

(A Top Pick June 22/15. Up 5.54%.) His favourite bank. The main attraction is the exposure to the US. Their exposure to the UK is minimal.


Price: $54.510
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-27 COMMENT Trans Canada Corp
TRP-T
Peter Brieger

He likes this along with Enbridge (ENB-T) Inter Pipeline (IPL-T) and Pembina (PPL-T). If things proceed happily towards an Energy East pipeline, that would refocus his interest in this.


Price: $57.280
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-27 COMMENT Torex Gold Resources
TXG-T
Peter Brieger

Recently announced a 10 for 1 consolidation. This is simply a way of getting the share price higher than what it was. This is a way of attracting long-term institutional investors.


Price: $2.200
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-06-27 COMMENT Uni-Select Inc
UNS-T
Gerard Ferguson

Has aggressively gotten out of the US on the distribution side and sold their assets about a year ago, and are continuing to grow their Canadian operations. Thinks the name will be very active over the next 6-12 months from an acquisition standpoint. He likes this.


Price: $32.580
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2016-06-27 COMMENT Whitecap Resources
WCP-T
Gerard Ferguson

(Market Call Minute.) Likes the name. It is a play on oil. Very strong management team. One of the go to names for energy investors.


Price: $9.570
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2016-06-27 COMMENT Wells Fargo
WFC-N
Peter Brieger

Generally, US banks are cheaper than Canadian banks and have more potential upside, but yields are much lower. He likes this because he likes US housing, which is one of the continuing positive drivers of the US economy, and this is a major player in the mortgage market.


Price: $45.010
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-27 COMMENT Yamana Gold Inc.
YRI-T
Gerard Ferguson

Gold follows a very seasonal pattern. Typically, you get a pickup in interest at the end of the summer and into the 4th quarter. Thinks Brexit has impacted the seasonality that we are going to see as gold would have been weaker already. This is a very liquid instrument, so a lot of people are starting to favour it again.


Price: $6.640
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2016-06-27 WAIT BMO Europe High Dividend Covered Call Hedged to CAD ET
ZWE-T
Larry Berman CFA, CMT, CTA

ETF to take advantage of the drop in UK and European stocks? None just yet. Depending on the type of investor you are, and your tolerance for risk, BMO Europe High Dividend Covered Call Hedged to CAD (ZWE-T) is an ETF that is a way to get dividends from Europe with a Covered Call overlay. In an uncertain environment, you are getting over a 7% yield and volatility. This will be a fine one to nibble at into weakness, but could easily fall another 10%.


Price: $17.740
Subject: NORTH AMERICAN & ETFs
Bias: CAUTIOUS
Owned: Yes
2016-06-27 COMMENT BMO Covered Call Utilities ETF
ZWU-T
Larry Berman CFA, CMT, CTA

High-yield ETF’s? The Fed is probably off the table in terms of raising interest rates. It wouldn’t surprise him if the next move was a cut. If there is an economic downturn again, the answer is lower rates, but they are not going to work. There are some big challenges ahead. He has said for years that interest rates are going to stay near zero for decades, just for the world to get a little bit of growth. If interest rates are going to stay low, then utilities are a good source of dividends because they are regulated. There is not a lot of growth, but the dividends are pretty consistent and stable. He would stick with Canadian dividends. It is still a little too early to be aggressively buying things as there is more downside to come. His favourite is BMO Covered Call Utilities (ZWU-T). You are getting a near 7% yield.


Price: $13.605
Subject: NORTH AMERICAN & ETFs
Bias: CAUTIOUS
Owned: Unknown
2016-06-27 COMMENT Sleep Country Canada Holdings
ZZZ-T
Gerard Ferguson

(Market Call Minute.) A company with fantastic margins. Sees a lot of growth upside for this company.


Price: $22.530
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2016-06-24 N/A A Comment -- General Comments From an Expert
A Commentary
Barry Schwartz

Market. He did not make any strategic changes going into the Brexit vote. This has not been a wonderful year. Today he is buying the stocks that he thinks are down too much. The UK pound is falling which means it is going to cost them a lot more money to import goods, but it makes going to the UK cheaper, and the impact could be nothing. Nobody knows what the short term impact is going to be. Any analyst that has more than 10% of their exposure to Europe and are down 3%-5%, with maybe their profits being impacted to zero, that would be the stock to buy. A lot of the ones that are down today are the US financials. Those are the kinds of stocks he is attracted to today.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: _N/A
2016-06-24 DON'T BUY A Comment -- General Comments From an Expert
A Commentary
Barry Schwartz

Volatility ETF’s as a swing trade? You are probably better off going to a casino and playing the roulette wheel. The outcome is absolutely random. Just because you get it right doesn’t mean you are smart, it just means you got lucky.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-06-24 DON'T BUY A Comment -- General Comments From an Expert
A Commentary
Barry Schwartz

Gold stocks? Has bought gold stocks in the past, but wouldn’t buy them now. Doesn’t see any reason to own these types of companies. Has no idea what gold is going to do a year from now.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-06-24 N/A A Comment -- General Comments From an Expert
A Commentary
Ryan Modesto

Market. Britain decided to leave the EU. It is a pretty big deal, an unprecedented and uncharted territory for the markets. From a Canadian investor’s point of view, he doesn’t think the impact is going to be overly material. A lot of Canadian investors’ portfolios don’t have much exposure to the European market, so doesn’t see them taking a huge hit. A lot of companies that trade on the TSX don’t have a lot of revenues that are generated from the European markets. Probably the biggest exposure is in the financial sector. This is a great opportunity to pull out your watch list, and for those that you have been waiting for, a more attractive entry point. You need to expect volatility for the next few weeks.


Price: $0.020
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: _N/A
2016-06-24 BUY Apple
AAPL-Q
Barry Schwartz

Much cheaper than it was a few days ago, so you can absolutely buy it here. If you are waiting for a selloff, this is it.


Price: $93.400
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2016-06-24 PAST TOP PICK Andrew Peller
ADW.A-T
Ryan Modesto

(A Top Pick March 3/16. Up 8.14%.) This is a recession resistant type of industry. The wine space within alcohol, is actually a faster growing one, compared to the broader alcohol/spirits market. A stable company.


Price: $26.930
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-06-24 COMMENT Amazon.com
AMZN-Q
Barry Schwartz

One of the best companies, but valuation makes it very hard for him to make sense of. You have to take a big leap of faith to bite into the multiple of 60 or 70 times earnings.


Price: $698.960
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-06-24 COMMENT Alimentation Couche-Tard (B)
ATD.B-T
Barry Schwartz

Alimentation Couche-Tard (ATD.B-T) or Magna (MG-T)? Since he owns Magna and not this one, Magna is the only one he can recommend. However, this is a great company and it has come back a little. Feels it has sold off partly because there are concerns they might overbid for CST Brands which is rumoured to be up for sale. This one benefits from the low Cdn$, so they are probably doing okay now. It has always been an expensive company.


Price: $52.300
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-06-24 COMMENT Alimentation Couche-Tard (B)
ATD.B-T
Ryan Modesto

A “Best in class” type of name. The valuation multiple was getting higher, but has come down a lot and is more reasonable in price. They are still doing acquisitions globally, and has been a very astute team in being able to pick up interesting companies at fair prices, and growing shareholder value.


Price: $52.300
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2016-06-24 COMMENT A&W Revenue Royalties Income Fund
AW.UN-T
Ryan Modesto

Have been putting up about a 6%-9% same-store sales growth over the last year or so, which is a pretty big number. Their marketing is on an organic healthier food angle, and also focusing on smaller format stores in metropolitan areas. That seems to be paying off. As a royalty, there aren’t many costs. Payout ratio is at about 100%.


Price: $32.070
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2016-06-24 HOLD Badger Daylighting
BAD-T
Ryan Modesto

They do daylighting, exposing underground wiring and pipelines. Seem to be able to do it quicker and more efficiently than their competitors. Great management team. Have been through downturns before and have managed it. However, looking at the valuation, it looks like it is priced to perfection at 24X forward earnings. Has a pretty good growth plan, and if they can deliver on it there is some potential for a return. The problem is, they moved into the US and have seen their margins depressed. Not confident they can get those margins up to historical levels.


Price: $21.920
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2016-06-24 BUY Brookfield Asset Management (A)
BAM.A-T
Barry Schwartz

One of his biggest holdings and he is happily buying it. It has exposure to the UK and Europe, but doesn’t think there is going to be any impact to its business operations. The smartest investors he knows and will probably use their beautiful balance sheet to make wonderful acquisitions going forward.


Price: $42.920
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-24 COMMENT Brookfield Business Partners LP
BBU.UN-T
Barry Schwartz

A new limited partnership from Brookfield. Made up of a collection of different assets such as private equity assets, ownership and other publicly traded companies. It came out at around $30+. Typically, people get rid of it because it’s a duplication of something they already have, but they really should be buying it instead. Hasn’t decided what his strategy is yet, but he wouldn’t discount this company. The price looks quite interesting.


Price: $25.820
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2016-06-24 TOP PICK Airboss of America
BOS-T
Ryan Modesto

This does rubber compounding and engineering products. They are producing specialty rubbers and putting them into specialty types of products. Did an acquisition a year ago, a US defence business. Now it is quite cheap. The majority of revenues come from the materials and resources sector, which has been weak in the past. There is a bit of a resurgence and over time the mining and resource companies will start reinvesting their capital, and this will flow through to a company like this. Dividend yield of 1.84%.


Price: $14.100
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-06-24 COMMENT Canadian Natural Rsrcs
CNQ-T
Barry Schwartz

Doesn’t own any oil/gas producers. Got out of them in 2015. This and Suncor (SU-T) are the 2 best run oil/gas companies in Canada. For conservative portfolios, 1 or 2 of them could find a place in your portfolio. He is not over the moon about buying oil/gas stocks at $48 oil.


Price: $38.840
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-06-24 COMMENT Constellation Software Inc.
CSU-T
Barry Schwartz

A well-run company and the CEO has created an unbelievable free cash flow machine, buying up software companies and having annuity revenues, and using the free cash to continue to buy more, etc. They now have a suite of thousands of companies and are on the hunt to buy more. This is on his radar screen, but he just can’t stomach buying it at this valuation.


Price: $500.840
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-06-24 PAST TOP PICK Concordia Healthcare
CXR-T
Ryan Modesto

(A Top Pick March 3/16. Down 29.31%.) This has been a bit of a wild ride. Their most recent earnings release was pretty good. They delivered on what they said they would. Then the whole strategic review narrative started to take over and 2 private equity firms backed out. The valuation shows this is cheap as it can be at 3.5X forward earnings. They have positive cash flow and growing revenues and a global footprint, but are trading at such a cheap level.


Price: $27.800
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-06-24 DON'T BUY Convalo Health International Corp
CXV-X
Ryan Modesto

Doesn’t follow this too closely. A rollup for rehab facilities. He doesn’t buy into the rehab market rollup story. There are better quality companies out there.


Price: $0.230
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2016-06-24 COMMENT D-Box Technologies
DBO-T
Ryan Modesto

This creates a motion seat for theatres. They had a quarter where the stock really got hit, down 16% over 2 days. The balance sheet is strong and there is a lot to like here. Feels they have a long runway for revenue growth.


Price: $0.550
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2016-06-24 BUY DH Corporation
DH-T
Ryan Modesto

A transaction processing, loan administration type of business. A Short report came out talking about a big acquisition they did giving them a global platform to sell and cross sell their services. The report said they were not going to be able to get any growth, legal issues, etc., but the company released an earnings report which squashed the report. That was followed by another release which wasn’t a great quarter. It is now pretty cheap at about 12X earnings and pays a 4% dividend, and has potential for dividend growth. He likes this.


Price: $32.110
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2016-06-24 BUY Walt Disney
DIS-N
Barry Schwartz

Buy the stock or buy some call options for one month out? If you want to buy call options one month out, you should go to the casino, as it is the same type of business. He is buying the stock as it is attractive here. Has sold off materially from its all-time high of $120 a share. There are worries about ESPN, cord cutting and overpaying for some of the sports, but they own such wonderful assets. Valuation is very cheap for a company that he expects to have double digit earnings growth for the next few years.


Price: $95.720
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-24 BUY Empire Company (A)
EMP.A-T
Barry Schwartz

Has finally joined the club of grocery chains that has messed up and fallen flat on their face. It looks like they bought Safeway right at the top. Integration is not going well. Last 2 quarters have been poor. It is going to take some time. If you are a patient, long-term investor, this is an excellent time to buy. 1.9% dividend yield.


Price: $21.160
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2016-06-24 COMMENT Fairfax Financial
FFH-T
Barry Schwartz

This has always been a very defensive investment, because Prem Watsa is a very conservative investor. He created an enormous amount of wealth for shareholders over the long-term. Has followed the model of Warren Buffett, which is owning an insurance company and using the proceeds to float to buy other companies. He has done a wonderful job. Doesn’t think you can go too far wrong owning and buying this company.


Price: $665.210
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-06-24 BUY Alphabet Inc (C)
GOOG-Q
Barry Schwartz

The only FANG stock he likes, because it is the most profitable and has a wonderful balance sheet, and they dominate the search business. This is one you could definitely buy here. Just keep in mind that the Cdn$ is also down. An attractive entry point.


Price: $675.220
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-24 COMMENT Grenville Strategic Royalty
GRC-X
Ryan Modesto

Had a bit of an issue with their most recent earnings release, and had to do with the dividend payout ratio. It is calculated as a regular payout, but they also include a fake kind of sell part of their business, and count that under the earnings line into the payout ratio. Not reliable and not necessarily sustainable. He wouldn’t own this and rely on the dividend.


Price: $0.380
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2016-06-24 COMMENT Intertain Group
IT-T
Ryan Modesto

Really cheap 3 months ago and then news of the strategic review came out and there was a nice little pop on the shares. There is a lot of uncertainty going on right now. They pushed back their AGM because at the end of June they are going to come out with an announcement of whatever’s happening with their strategic review. But now with the BREXIT vote, his worry would be that whatever deal was in the works, it is either being put on hold or being quashed. Too much uncertainty for his taste.


Price: $11.530
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2016-06-24 COMMENT Manulife Financial
MFC-T
Barry Schwartz

It is hard for him to get excited about this company. Just when it seems that they are out of the woods, something else happens. The issue for life insurance is the weak Cdn$, low interest rates and that the stock market hasn’t taken off. Trading at 0.9X BV, which would probably be of interest to a deep value investor.


Price: $17.350
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-06-24 PAST TOP PICK Magna Int'l. (A)
MG-T
Barry Schwartz

(A Top Pick July 21/15. Down 29.68%.) This was a very cheap valuation at $70, and is even cheaper at $49. People at the beginning of the year got it in their head that we are at Peak Car, and that GM and Ford are not going to sell as many cars, and if interest rates go up, it is going to be bad for car leases. He continues to buy more and average down.


Price: $47.030
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-24 PAST TOP PICK National Bank of Canada
NA-T
Barry Schwartz

(A Top Pick July 21/15. Up 2.16%.) Wrote down some assets, and were affected by oil/gas write-downs as well, so it hasn’t been the strongest year for them. Still trading at 8 or 9 times earnings. Their last quarter was very good.


Price: $44.050
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-24 TOP PICK Oracle
ORCL-N
Barry Schwartz

Thinks this is doing the Microsoft Playbook, which is growing quickly in the Cloud, and getting more licenses and revenues and annuities instead of selling a one-time package. Thinks the turning point for this company is here. Generating a lot of free cash. Very reasonably valued. Dividend yield of 1.51%.


Price: $39.230
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-24 TOP PICK Premium Brands Holdings Corp
PBH-T
Ryan Modesto

A specialty food, manufacturer and distributor. Within Canada, consumer staples may have 15 companies that are investable. Most of them are large, mature, slow growth type of companies. Specialty foods means they can charge higher margins. You get the feeling management is not trying to build an empire and not growing for the sake of growth, but are making decisions that are in the shareholders’ best interests. Dividend yield of 2.88%.


Price: $52.700
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-06-24 TOP PICK Priceline.com Inc.
PCLN-Q
Barry Schwartz

This is getting absolutely decimated today. They get 75% of their revenues from Europe. Their biggest entity is Booking.Com, a wonderful, wonderful company and benefits from the network affect. They have the most hotels and they are smart operators. A beautiful balance sheet that generates gobs of free cash. Unbelievable margins. Anything exposed to Europe right now is getting his head handed to it, but this is a wonderful buying opportunity.


Price: $1232.140
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-24 DON'T BUY Patient Home Monitoring
PHM-X
Ryan Modesto

This has been a disaster. On the recent quarter, year-over-year growth looks quite solid, but quarter over quarter wasn’t too great. This kind highlights the risk of getting involved in businesses that are reliant on government funding. It just seems that they can’t put together a quarter without any negative news.


Price: $0.190
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2016-06-24 HOLD Prism Medical Ltd.
PM-X
Ryan Modesto

Mobility equipment. They bought the lift business division of Shoppers Home Health. It has a 5% dividend yield, but is higher risk. He thinks they will be able to grow into their earnings and cash flows and help support that dividend.


Price: $9.500
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2016-06-24 COMMENT Richards Packaging Income Fund
RPI.UN-T
Ryan Modesto

This is a tough business. Packaging is a good consumer staples type of business. They do all the things right. Have a good dividend, raise it, and do share buybacks. He just can’t get past the illiquidity. Also, there has been quite a big run up on shares recently. Now trading at multiples that are on par with something like CCL Industries, which is much larger and a much more liquid company, which he would prefer.


Price: $23.300
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2016-06-24 BUY Royal Bank
RY-T
Barry Schwartz

Likes this and the Canadian banks. Over the long-term, anybody who has owned Canadian banks has earned significant compound rates of return. They are not expensive and you get a nice dividend growth. Dividend yield of 4.2%.


Price: $77.210
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-06-24 PAST TOP PICK Saputo Inc.
SAP-T
Barry Schwartz

(A Top Pick July 21/15. Up 29.12%.) There was a listeria scare with some of their chocolate milk, which had an impact on the stock. However, their last quarter was very strong. They are having an issue right now because of low dairy prices. The balance sheet is in good shape and he thinks they are ready to pounce and make some acquisitions.


Price: $37.720
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
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