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

Recent Opinions with Comments from our Viewers

Date Signal Company Expert Opinion Price
2016-02-10 COMMENT Altagas Ltd
ALA-T
Swanzy Quarshie

This is doing quite well in this environment. Has been able to grow its EBITDA this year. One of the lowest payout ratio companies in its universe. This presents an opportunity for people that are looking for a safe yield. The 6.5% dividend is absolutely safe.


Price: $30.170
Subject: OIL & GAS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-02-10 COMMENT Inter Pipeline
IPL-T
Swanzy Quarshie

A very well-managed company with a strong cash flow profile. The opportunity for pipeline growth is diminishing. A company like this is good for a safe, secure dividend, but the market doesn’t like that its growth profile is limited. Dividend yield of 7.6%. 


Price: $20.480
Subject: OIL & GAS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-02-10 SPECULATIVE BUY Madalena Ventures
MVN-X
Swanzy Quarshie

A player in Argentinian shale. A really interesting company, and if you have a little bit of money where you want to play some significant torque, this is an interesting one. Argentina for her is a “no go zone” because of their historical issues of taking assets away. However, the country is improving politically.


Price: $0.270
Subject: OIL & GAS
Bias: OPTIMISTIC on OIL
Owned: No
2016-02-10 PAST TOP PICK Whitecap Resources
WCP-T
Swanzy Quarshie

(A Top Pick Feb 12/15. Down 53.5%.) Lots of free cash flow and dividend growth potential is still there in a high oil price environment, but their hedging has rolled off, which makes things a little more challenging. It also increases their debt. Too many people were hiding in this story. Thinks very highly of management. Dividend yield of 7.6%.


Price: $5.930
Subject: OIL & GAS
Bias: OPTIMISTIC on OIL
Owned: Yes
2016-02-04 TOP PICK General Motors Corporation
GM-N
Brian Acker, CA

Model price is 32% below the current price.  GM is spinning off GE capital. Investors get to decide if they want Synchrony or GE.  He thinks the valuation will go up substantially.  3.2% dividend.


Price: $28.640
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US ECONOMY
Owned: Yes
2016-02-04 DON'T BUY Telus Corp
T-T
Brian Acker, CA

Model is $31.61.  If it got down to $29.50 he would be pounding the table.


Price: $40.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US ECONOMY
Owned: Unknown
2016-02-02 N/A A Comment -- General Comments From an Expert
A Commentary
Keith Richards

Charts. He always uses logarithmic charts. Sometimes linear charts distort things. A logarithmic chart will be on a trend line, but on a linear chart it is not. It is important because a $10 stock that moves to $11, a 10% move, is different looking on a percentage basis than a $20 stock that moves up $1.


Price: $0.020
Subject: TECHNICAL ANALYSIS
Bias: BEARISH
Owned: _N/A
2016-02-02 PAST TOP PICK Gilead Sciences Inc.
GILD-Q
Alex Ruus

(A Top Pick Dec 10/14. Down 20.17%.) Just reported and had an excellent, excellent quarter. Had the best year in history. This would be his top pick in the biotech area. Trading at a crazy 6X PE despite having reported the best year in history. The global leader in HIV medication and hepatitis. Has just gone through the most successful drug launch in history. Trading at only 6X earnings.


Price: $82.705
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Yes
2016-02-02 DON'T BUY KP Tissue Inc
KPT-T
Keith Richards

The net trend in the last 6 months has clearly been down. He would want to see a break through the trend line at about $11.50 on some volume. At this point, you don’t buy a falling knife.


Price: $11.230
Subject: TECHNICAL ANALYSIS
Bias: BEARISH
Owned: No
2016-02-01 PAST TOP PICK Linamar Corp
LNR-T
Brendan Caldwell

(Top Pick Feb 13/15, Down 29.71%) He sold out before it went down.  The auto sales are down.  He is skeptical of the growth in the auto sector.


Price: $56.070
Subject: CANADIAN VALUE
Bias: SELECTIVELY OPTIMISTIC
Owned: No
2016-01-28 BUY KP Tissue Inc
KPT-T
Barry Schwartz

Has a big holding in this. One reason the stock is down is that they buy a lot of pulp in US$s, which has impacted margins. The company continues to maintain the leading brands of tissue and toilet paper. Absurdly cheap in his opinion. Hopes management initiates a share buyback or something. Feels the dividend is more than fully protected and expects a better year in 2016. It could easily recover to the $14-$15 range. Hopefully, once the US$ starts to tail off and the Cdn$ starts to rise, we will see better stock prices in the future. 


Price: $10.190
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2016-01-26 COMMENT Vanguard S&P 500 Index ETF
VFV-T
Mike S. Newton, CIM FCSI

Believes this is a Canadian hedged S&P exposure. This is going to be more popular right now. He is still a big fan of the US market. These types of hedged ETF’s are going to do well.


Price: $47.560
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: CAUTIOUS
Owned: Unknown
2016-01-22 N/A A Comment -- General Comments From an Expert
A Commentary
Jaime Carrasco

Markets. He is still conservative and would suggest investors should take some money off the table on the rally. Feels the rally has legs, but was extremely surprised at how quickly the market came down this year. There is a lot of weakness and thinks the market is overvalued, and will continue to correct. Because of this he would continue to stay cautious. However, there is a bright side, and that is the decline of the Cdn$ even though it is affected negatively, but it is having a really good outcome on the earnings expansion of Canadian gold producers. Gold crossed $1600 this week and closed today at $1550. These companies are producing at $1000 or less Canadian, so their earnings are expanding. In essence, gold is doing what it has always done, acting as a safe harbour in times of currency crisis. We have so much debt in the world that economic growth isn’t happening, it is being stifled. The same as what happened in the 30s.


Price: $0.020
Subject: RESOURCE, UTILITY & REITs
Bias: CAUTIOUS
Owned: _N/A
2016-01-22 TOP PICK BCE Inc.
BCE-T
Jaime Carrasco

He likes how the company is positioning itself. They are going after data, so it is an interesting way on how they are competing with Rogers (RCI.B-T), which makes a lot of sense. Dividend yield of 4.71%.


Price: $55.370
Subject: RESOURCE, UTILITY & REITs
Bias: CAUTIOUS
Owned: Yes
2016-01-22 WAIT Crescent Point Energy Corp
CPG-T
Michael Simpson, CFA

Crescent Point (CPG-T) or Whitecap (WCP-T)? Hasn’t cut its dividend for a while, and thinks they should cut. Wait until they make a decision on the dividend and look at it after that.


Price: $13.980
Subject: NORTH AMERICAN DIVIDENDS
Bias: OPTIMISTIC
Owned: Yes
2016-01-22 WAIT Healthcare Leaders Income Fund
HHL.UN-T
Jaime Carrasco

Sold this in December, anticipating the decline that was coming. However, healthcare is something that he wants to own on a long-term basis. Right now is a time to be cautious. We should go through a pretty good rally in the next week or so, and at that point he would definitely recommend it.


Price: $8.200
Subject: RESOURCE, UTILITY & REITs
Bias: CAUTIOUS
Owned: No
2016-01-22 PAST TOP PICK Pembina Pipeline Corp
PPL-T
Jaime Carrasco

(A Top Pick Dec 12/14. Down 13.06%.) Sold this in the fall. He likes it fundamentally on a long-term basis. Pipelines are monopolies as we are not building any. Also, likes the dividend they pay.


Price: $30.480
Subject: RESOURCE, UTILITY & REITs
Bias: CAUTIOUS
Owned: No
2016-01-18 DON'T BUY Telus Corp
T-T
John Wilson

An incredibly well run company that have done a terrific job over the last decade.  A big part of their problem now is the oil sector and Shaw.  Shaw will be quite aggressive against Telus (T-T).  He thinks you can do better elsewhere, e.g. with Rogers (RCI.B-T).


Price: $36.350
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2016-01-15 N/A A Comment -- General Comments From an Expert
A Commentary
Peter Hodson

Markets. There is illogical selling going on. Investors are selling because the market is down. Have your companies really changed dramatically because of what is happening in China or the price of oil. In spite of this stocks are down and it has nothing to do with anything that is going on in the world. If you are not in commodities, it is not a panic “end of the world” scenario. The Canadian economy is not great, but valuations are starting to reflect that. Also, the US economy is quite strong with everything more or less under control. Canada may go into a recession, but it is not the first and won’t be the last time. Volumes have started to pick up in the US, so you are getting that capitulation trade. He would recommend you own a piece of the business rather than anything else.


Price: $0.020
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC
Owned: _N/A
2016-01-15 TOP PICK Constellation Software Inc.
CSU-T
Peter Hodson

They do a lot of healthcare/government payroll sorts of things. They make organizations work more efficiently through software. This company is a huge acquirer. The founder still works at the company and has $500 million worth of stock. They don’t issue stock, the cash flow is great, balance sheet is really, really strong, they deliver on expectations, but they trade only in Canada and their earnings are in US$. They have had 11 days in a row where their earnings have gone up. Dividend yield of 1.06%.


Price: $517.990
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC
Owned: No
2016-01-14 N/A A Comment -- General Comments From an Expert
A Commentary
Stan Wong

Markets. This has been an emotional selloff. There is a storm of investor anxiety, some new, and some old carried over from 2015. This has caused the equity markets to have one of the worst starts in history. We are looking at things like the economic deceleration in China, falling commodity prices, a decline in corporate earnings expectations, strong US$ headwinds are still out there, and we have some new geopolitical tensions that serve as a backdrop to start the year. Investors have pressed the Sell button first without really looking at underlying fundamentals, which aren’t that bad. S&P is trading at about 15-16 times forward earnings. If you take a 10-15 year history, we are pretty much average at this point. Selling in the equity markets has certainly been overdone. From a technical perspective, we are oversold. For patient investors who are picking away at equities, we’ll see some sort of relief rally. Continues to like US equities over Canadian equities. The US economy is still going to grow at the 2%-3% growth rate this year, and earnings per share on the S&P 500 should grow at around 7% this year. He was about 12%-15% in cash at the beginning of the year, but is now down to about 8% cash.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: _N/A
2016-01-11 DON'T BUY Bank of Nova Scotia
BNS-T
Kash Pashootan

If you are a trader, there are better places for your money.  This and NA-T are the worst performing two in the space.  This name will have a higher beta due to exposure to Latin America.


Price: $54.190
Subject: NORTH AMERICAN DIVIDENDS
Bias: SELECTIVE
Owned: Yes
2016-01-11 DON'T BUY Concordia Healthcare
CXR-T
Michael Decter

Wouldn’t chase this now. In the wake of the turbulence and the issues around the acquisition of drug companies to raise prices, there is a bit of a market resistance, particularly on the Canadian end. He would be looking at some of the really large cap US healthcare companies that are kind of on sale now.


Price: $45.550
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2016-01-07 COMMENT Veresen Inc
VSN-T
Michael Sprung

Has questions whether they are covering their dividend or not. Not as confident in this company, as in others.


Price: $7.940
Subject: CANADIAN LARGE
Bias: UNKNOWN
Owned: No
2016-01-06 TOP PICK Bank of Nova Scotia
BNS-T
Rick Stuchberry

This could have been any of the Canadian banks, but this one was punished last year more than the others. Canadian banks move as a group up and down. This had poor performance on the downside last year. Generally speaking they often revert towards the means, and this one will have a better performance going forward. Big in Canada and Latin America.


Price: $55.160
Subject: CANADIAN LARGE & ADRs
Bias: CAUTIOUS ON US$
Owned: Yes
2016-01-06 BUY Enbridge
ENB-T
James Telfser

A dividend entity that is large and going to be around for a long time. Great management team. Has been disproportionately hurt along with the other pipelines and energy companies. There is good value here. If oil prices keep going down the way they are, this is still a buy. Nice dividend yield. Have a lot of debt, but pipeline companies do have a lot of debt. If they had to get financing, they would have no problem.


Price: $44.580
Subject: CANADIAN
Bias: BEARISH
Owned: Unknown
2016-01-04 HOLD Brookfield Asset Management (A)
BAM.A-T
Bruce Campbell (1)

It has been a little bit expensive, but it held up well recently.  It is smart management.  He prefers this to others in the family.


Price: $42.310
Subject: CANADIAN
Bias: CAUTIOUS
Owned: No
2015-12-31 COMMENT A Comment -- General Comments From an Expert
A Commentary
N/A

We are having technical problems, so will be processing today's shows posted on Jan 1st New Year's Day.

Our Apologies

Bill


Price: $0.020
Subject: N/A
Bias: UNKNOWN
Owned: Unknown
2015-12-31 N/A A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

Small Caps. Hoping for a better year in 2016. The index is down about 13% year to date and his fund is down about 1%. The challenge is twofold. 1.) There have been a lot of US Shorts, i.e. hedge funds attacking Canadian names by issuing Short reports and stocks falling 40%. This has been happening repeatedly. Consistently those reports are found to have no merit yet the stocks still fall. 2.) A lot of names have acted like oil stocks, even though they are not. Some have limited exposure to oil, but have been annihilated. If he is correct in his oil call for next year, there are many small-cap names that should benefit as a 2nd derivative trade on oil. A rising tide lifts all boats.


Price: $0.020
Subject: OIL, GAS & SMALL-CAP CANADIAN
Bias: OPTIMISTIC
Owned: _N/A
2015-12-31 BUY on WEAKNESS Amazon.com
AMZN-Q
Paul Harris, CFA

A great company, but you have to be able to stomach some volatility. They are really taking over the retail space. When looking at some of the retail stores, you can see this company is having a major impact on them. As the consumer matures online, they are more likely to go and buy other things then what they would have before. This has a high valuation and is incredibly expensive, and he would probably buy it on a pullback.


Price: $675.890
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Unknown
2015-12-31 BUY on WEAKNESS Bank of Nova Scotia
BNS-T
Paul Harris, CFA

Canadian Banks are not expensive. Have been hurt because the Canadian economy has been poor, and people forget that banks are a reflection of the macro economy of the country. This is quite leveraged to the oil business so you have to be careful about that. However, they all have great assets around them. You are not paying a lot for them. They may move sideways to down in the next couple of months, which would be a better buying opportunity.


Price: $55.970
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: No
2015-12-31 TOP PICK Intertain Group
IT-T
Eric Nuttall

Online bingo that has 40%+ margins, a huge retention rate of clients, so this is a very strong recurring revenue model. Trading at 5X next year’s earnings and 4X 2017 earnings. The stock fell from $12.50 to $6.75 on some bogus Short report. He is looking for 20% growth.


Price: $9.960
Subject: OIL, GAS & SMALL-CAP CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2015-12-31 TOP PICK Kraft Heinz Company (merged)
KHC-Q
Paul Harris, CFA

This is a merger of Kraft and Heinz. Very good on costs, and thinks they are going to be able to derive a lot of revenue from the Heinz business. Dividend yield of 3.16%.


Price: $72.760
Subject: NORTH AMERICAN/GLOBAL
Bias: CAUTIOUS
Owned: Yes
2015-12-31 DON'T BUY Patient Home Monitoring
PHM-X
Eric Nuttall

A rollup story with some organic growth. The challenge with many of these names is low organic growth. On rollup strategies, once you lose your multiple, you are left with a bunch of lower growth companies that the market used to pay a higher multiple for. This has been such a dog that he thinks it is going to take quarters for them to be able to demonstrate they do have organic growth. The other challenge is that a lot of the growth comes from cross-selling products, and that matures pretty quickly. Once you run out of cross-selling, your organic growth rate starts to decline.


Price: $0.650
Subject: OIL, GAS & SMALL-CAP CANADIAN
Bias: OPTIMISTIC
Owned: No
2015-12-31 COMMENT Student Transport of America Ltd.
STB-T
Eric Nuttall

Recently met with management and thinks that the dividend is safe. Probably at a 100% payout ratio, meaning their maintenance capital required plus the dividend equals their dividend. Have typically grown through acquisitions using cash and stock. If you look at a sustainability ratio, you are using bank debt for growth capital and the dividend is coming from operating cash flow. That is somewhat high for a business of this type. Not a name he would own.


Price: $5.120
Subject: OIL, GAS & SMALL-CAP CANADIAN
Bias: OPTIMISTIC
Owned: No
2015-12-30 HOLD A Comment -- General Comments From an Expert
A Commentary
Lyle Stein

Pipelines. These are unique to Canada. They represent a very large chunk of our investment market, unlike any other place in the world. They have been built around a utility like model that looks pretty good. We have shipped more oil to the US last year than we ever have, and will probably ship more this year. These companies benefit from that. The dividends are in really good shape. Why have they got whacked? It is the oil price and fear. (See Top Picks.)


Price: $0.020
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2015-12-30 TOP PICK Enbridge
ENB-T
Lyle Stein

This has been one of those great names since the mid-1950s when they first built a pipeline in Canada. Has a wonderful disciplined management team with good long-term growth potential. It just happens to be in the wrong sector. Dividend yield of 4.7%.


Price: $45.580
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2015-12-23 COMMENT Amaya Gaming Group Inc.
AYA-T
Jason Donville

Generally doesn’t like this space. It has to do with the backdrop and the lack of transparency. There is a lot of shadowy stuff going on with all of these companies, and things are changing all the time. He is just not interested in playing in this space anymore.


Price: $18.480
Subject: GROWTH STOCKS
Bias: OPTIMISTIC
Owned: No
2015-12-23 HOLD Constellation Software Inc.
CSU-T
Jason Donville

There are certain business industries where you have recurring revenue, where clients are very, very sticky, and getting organic growth is relatively difficult, so it is cheaper to acquire.


Price: $581.320
Subject: GROWTH STOCKS
Bias: OPTIMISTIC
Owned: Yes
2015-12-22 SELL Corus Entertainment (B)
CJR.B-T
Elliot Fishman

If you drew a magic line on the chart, his strategy would be “prayer”. The chart shows no support. He hates it when a stock breaks double digits. If it were him, he would be out of this name.


Price: $10.500
Subject: TECHNICAL ANALYSIS
Bias: OPTIMISTIC
Owned: Unknown
2015-12-18 COMMENT Bank of Nova Scotia
BNS-T
Keith Richards

He is short term bullish, but preparing to Sell Canadian banks. The December selloff has caused a pullback, and his opinion is that it will probably reach back to the lid that it saw recently, possibly mid to low $60s. If that point were reached, he would be tempted to sell it.


Price: $56.140
Subject: TECHNICAL ANALYSIS
Bias: CAUTIOUS
Owned: Unknown
2015-12-18 BUY Pure Multi-Family REIT LP
RUF.U-X
Derek Warren

Has pulled off slightly over the last little while, which is an opportunity. In this case, you are buying US$ exposure, which is a good place to be. You get the non-Houston Texas apartment market which is very safe.


Price: $5.050
Subject: REIT's
Bias: UNKNOWN
Owned: Yes
2015-12-14 BUY Bank of Nova Scotia
BNS-T
Teal Linde

Stock vs. Stock.  TD-T vs. BNS-T.  Both are great banks and you can hold both.  TD-T is the most expensive of the group right now.  BNS-T is at 9.5 times next year’s earnings and he has not seen it this low since the crisis.  He would prefer BNS-T, which has sold off because of its commodity exposure in Latin America.  However, the economies are doing fine down there.


Price: $55.660
Subject: NORTH AMERICAN
Bias: BEARISH
Owned: Yes
2015-12-11 TOP PICK BCE Inc.
BCE-T
Jaime Carrasco

He has a stop/loss on this, only because if pension funds start selling this is one of their big picks and he might have to get out. Likes the structure where they are changing over the deal that they did with HBO. They are kind of competing with Rogers (RCI.B-T), not on the cable side, but on the content side. Dividend yield of 4.82%.


Price: $53.990
Subject: REITS, RESOURCES & UTILITIES
Bias: CONTRARIAN
Owned: Yes
2015-12-10 DON'T BUY Canadian Western Bank
CWB-T
Bruce Tatters

It has not had a good year and is less expensive now.  The problem is the exposure to lending in Western Canada.  There were not a tremendous amount of debt restructurings in 2015 so he is cautious the longer oil stays low.


Price: $23.170
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2015-12-04 TOP PICK BMO Low Volatility US Equity ETF
ZLU-T
David Cockfield

Expense ratio is quite reasonable at 3.4%. It owns 26% utilities, 26% consumer staples, 19% healthcare and 11% consumer discretionary. Has a good distribution within the US economy. These are low volatility stocks.


Price: $27.770
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2015-12-01 COMMENT Inter Pipeline
IPL-T
Bill Harris, CFA

Has just doubled his position in this company. The contracts they have are extraordinary. The company can grow incrementally with this fair bit of capital. They have lots of spare capacity. He is taking a 10 year view on this and thinks he can compound at 8%. Dividend of 6.75%.


Price: $23.120
Subject: RESOURCE
Bias: CAUTIOUS
Owned: Yes
2015-11-30 DON'T BUY Enbridge
ENB-T
John O'Connell, CFA

Enbridge (ENB-T) or Toronto Dominion (TD-T)? TD is the one you should buy. This one has turned into a financial engineering exercise. It is a pipeline company that is pushing investments down into special-purpose entities, and it has a huge financial restructuring that is going on. Putting incredible strain on investors. If and when interest rates were ever to rise or there is a real change in energy consumption patterns, this could have a lot of strain.


Price: $47.430
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: Unknown
2015-11-27 TOP PICK Gorman-Rupp
GRC-A
Norman Levine

The world’s biggest maker of industrial pumps. The company generates about 30% of its business outside of the US and has been facing currency headwinds. Also, some of its business has been in the oil patch. The stock is never cheap, but it got down to the bottom end of its valuation range. It has raised its dividend each year for the last 42 years. Dividend yield of 1.3%.


Price: $32.090
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Yes
2015-11-26 BUY BCE Inc.
BCE-T
Michael Simpson, CFA

Largest telecom in Canada also with media assets.  They did an equity raise to deleverage the balance sheet.  Low volatility and good history of raising dividends.  A good long term hold and a yield of 6.4%.


Price: $57.060
Subject: NORTH AMERICAN DIVIDENDS
Bias: OPTIMISTIC
Owned: Unknown
2015-11-26 COMMENT Parkland Fuel Corp
PKI-T
Hap (Robert) Sneddon FCSI

This shows a nice steady uptrend from 2013 followed by a break this year. It is showing either a base building or a bounce. Had a base building at around $18. Currently testing a Volatility Stop at around $22.45. If it breaks, it probably goes down to one of the significant averages, probably around $21. A good stock. He would like to see it get back up to challenge the $25 level, before he would feel the long-term trend is going to hold. Dividend yield of 4.7%.


Price: $22.990
Subject: TECHNICAL ANALYSIS
Bias: UNKNOWN
Owned: Unknown
2015-11-26 COMMENT Transalta Renewables
RNW-T
Michael Simpson, CFA

Spun out from TA-T with more coal.  With changes happening, it is good for renewable.  Wind power can be intermittent.  Almost 13% dividend, but some speculation that the might have to cut it because of new carbon taxes.


Price: $10.220
Subject: NORTH AMERICAN DIVIDENDS
Bias: OPTIMISTIC
Owned: Unknown
2015-11-26 COMMENT Transalta Corp
TA-T
Hap (Robert) Sneddon FCSI

Chart shows a long downward trend and has just formed a double bottom. The interesting thing about power in Alberta is who is going to pick up the slack from the phase out of coal. This is not just a coal business, but has really been impacted by that. It will become clearer in the next few months. Watch the base and see if it breaks.


Price: $5.820
Subject: TECHNICAL ANALYSIS
Bias: UNKNOWN
Owned: Unknown
2015-11-24 BUY DirectCash Payments Inc
DCI-T
Jerome Hass

Hasn’t had a great performance over the last 12 months, but he is still very positive on it. Probably the largest provider of ATMs in Canada and Australia, and #3 in the UK. An interesting cash business and a very cheap valuation. Likes the yield. Payout ratio is probably in the 50s-60s, so the dividend is sustainable. What has really hung the stock of late has been the performance in Australasia, and Australia particularly where they introduced Tap and Pay. Thinks this is a one-off reduction in their growth rate. ATMs have just had an increase from $2 to $3 which flows to their bottom line. Had a very good Q3. A great, long term story.


Price: $12.000
Subject: CANADIAN - LONG & SHORT
Bias: UNKNOWN
Owned: Yes
2015-11-23 DON'T BUY Financial 15 Split Corp
FTN-T
Larry Berman CFA, CMT, CTA

14.5% yield.  Look back further than a couple of years.  The averaged yield has been 3%.  In the ’08 crisis they went from about $18 to about $2.  He believes they are paying out capital gains in their underlying companies.  In the last few years there was no crisis so there was little risk.


Price: $10.030
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: Unknown
2015-11-20 PAST TOP PICK Spartan Energy Corp
SPE-T
Eric Nuttall

(A Top Pick Oct 17/14. Down 22.96%.) This would be one of the more defendable business models, but at $40 oil the production falls. They would need about $50 oil to step on production again. They are sitting on probably a 10-12 year drilling inventory in south east Saskatchewan. He would buy this at around $2.10.


Price: $2.480
Subject: CANADIAN SMALL & ENERGY
Bias: UNKNOWN
Owned: No
2015-11-19 BUY Constellation Software Inc.
CSU-T
Peter Hodson

(Market Call Minute.) One of the best companies in Canada. They have never issued stock in 10 years and they just make money and cash flow.


Price: $559.000
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2015-11-19 SELL Liquor Stores N. A.
LIQ-T
Peter Hodson

(Market Call Minute.) If the Alberta oil workers don’t drink and the company is losing sales because of that, that says it all.


Price: $8.700
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2015-11-16 DON'T BUY Concordia Healthcare
CXR-T
Fabrice Taylor

They have too much debt.  They did not issue enough equity.  Wait until you get clarity on whether they are going to issue stock from treasury.  What happens if their old strategy of raising prices gets stopped by government?


Price: $43.500
Subject: NORTH AMERICAN
Bias: SELECTIVE
Owned: Unknown
2015-11-16 COMMENT Horizons Natural Gas Yield ETF Comm
HNY-T
Larry Berman CFA, CMT, CTA

A natural gas yield play where they write calls on Nat Gas futures.  The premium from options is high because volatility on natural gas is high.  Don’t buy this for yield.  You are still exposed to the commodity.


Price: $3.750
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: No
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