Recent Opinions with Comments from our Viewers | StockChase
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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
2016-04-27 TOP PICK AutoCanada Inc.
ACQ-T
Mike S. Newton, CIM FCSI

If you were to chart out oil prices against this name, you would see quite a bit of a correlation, because this is looked at as being a Western company. Thinks this is all baked into the price. Dividend yield of 4.69%, and the balance sheet is sufficient enough to cover that in the near term.


Price: $21.330
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: Yes
2016-04-26 COMMENT Bank of Montreal
BMO-T
Jerome Hass

Guardian Capital (GCG.A-T) sold its mutual fund to this bank in exchange for 5 million BMO shares in 2001, and have been sitting on them ever since. He has been Long Guardian and Short this bank since 2009, which was the equivalent of buying BMO for $.50 on the dollar. Since then Guardian has risen about 140% versus the 60% that BMO has. In pair trading, it is how they move relative to each other.


Price: $82.200
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: UNKNOWN
Owned: Yes
2016-04-20 DON'T BUY EnerCare Inc
ECI-T
Benj Gallander

This is all over the place. Home heating, plumbing, etc. Recently did another take over and the stock got hit. Had taken on a lot of debt to do it. Thinks it will do well. They pay a lovely dividend which has been increasing over the years. Wouldn’t buy this now.


Price: $16.000
Subject: CONTRARIAN INVESTING
Bias: UNKNOWN
Owned: Yes
2016-04-20 COMMENT Telus Corp
T-T
Stephen Groff

Telcos have been good at competing cooperatively, a very cozy place to be. Looks at these as free cash flow machines and how much cash they generate. Today they have some challenges. Some parts of the business have structural issues, and they have been very good at managing that. Over time, there are things that have to be monitored, in terms of competitive intensity in things like wireless. Right now it is pretty even, but we are going to have to see what happens with Shaw and Wind Mobile which can tend to be disruptive. Well-run and the dividend is safe. Wouldn’t count on much more than the 4.4% dividend at this point.


Price: $40.020
Subject: NORTH AMERICAN DIVIDENDS
Bias: CAUTIOUS
Owned: No
2016-04-18 TOP PICK HBP S&P500 VIX Short Term VIX ETF
HUV-T
Keith Richards

This is a hedge, insurance against the market going down.  He has a 5% position.  The VIX is at the bottom of a very long term trading range.  The markets are too settled in and too happy.  If the market starts to sell off, the VIX will spike aggressively.  In a worst case scenario it has a 2 to 1 reward to risk ratio.


Price: $22.280
Subject: TECHNICAL ANALYSIS
Bias: BEARISH
Owned: Yes
2016-04-15 COMMENT Tourmaline Oil Corp
TOU-T
Rick Stuchberry

Oils are turning the corner. It is now a matter of time. This is a quality company and well-run. More oil than gas, which is important. What you are looking for now are the strong survivors, and this is a survivor. The strong will lead off the bottom here.


Price: $26.390
Subject: CANADIAN LARGE & ADRs
Bias: OPTIMISTIC
Owned: No
2016-04-14 COMMENT AGF Management (B)
AGF.B-T
David Cockfield

Doesn’t like dual class shares. Anyone who is in the mutual fund business has a real problem with ETF’s. You can basically duplicate diversification in a portfolio, pick your spots, and decide you will run with that. This wasn’t really available when mutual funds became popular. He would use ETF’s instead.


Price: $5.140
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Unknown
2016-04-14 SELL Canadian Natural Rsrcs
CNQ-T
Brian Acker, CA

(Market Call Minute) He thinks it is really hitting resistance.  It has an 82% downside to the model price of $6.43.  Take your money and run.


Price: $37.520
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2016-04-14 DON'T BUY Gibson Energy
GEI-T
Brian Acker, CA

Model price $7.11.  It has some losses coming up.  He sees downside.  It is bumping up against a red line.  It has a real top here.  He needs it to break out above this.  He thinks it is above its max right here.  He would not touch it.


Price: $16.830
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2016-04-14 DON'T BUY Tourmaline Oil Corp
TOU-T
Brian Acker, CA

(Market Call Minute) It is in his trading zone.  Model $12.16, 55% below its current market price.   Leave this one alone.


Price: $26.610
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2016-04-11 COMMENT Empire Company (A)
EMP.A-T
James Telfser

CEO had made it clear they were having issues with their integration with Safeway. They were bringing in the SAP system which is always very cumbersome for them. For the next few quarters after that, there have been some sizable misses. Also, this is more of a West Coast focused company. However, it is still a grocery with great real estate, great assets and the probability of making great synergies down the road. On the income side of your portfolio, this is a good time to tuck this away for the next few years, and you will probably do really well.


Price: $20.780
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: No
2016-04-11 WATCH Shaw Communication (B)
SJR.B-T
James Telfser

Likes how they sold their media asset, and are now focusing on wireless. This is going to take a lot of money, but it is money they have available. Feels they are going to cover their dividend and are not going to have to raise capital. The dividend they are getting from Corus (CJR.B-T) is going to be paid as a DRIP program, giving them stock rather than cash. This gives them the option to do something if they need to down the road. CapX is going to be heavy in the next couple of years, but it is going to pay off a much higher growth profile than Telus (T-T), Bell (BCE-T) or Rogers (RCI.B-T). They are reporting this week, so wait to see what happens in case there is some updated guidance.


Price: $24.400
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2016-04-11 COMMENT Tourmaline Oil Corp
TOU-T
James Telfser

This has been a high growth energy story for a long time. They have great assets. If he was looking for a play in the energy space, this would be 3rd on his list after Crescent Point (CPG-T) and Seven Generations (VII-T). The $40 oil price we have today could be more sustainable than people think. The trend is showing that there is some firmness to this oil price. There is a high likelihood that production continues to decline in the US, which will support the price even further.


Price: $26.060
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: No
2016-04-05 TOP PICK Facebook
FB-Q
Zachary Curry

This is an example of how he would love to buy all of his stocks. In August 2015, the market had the flash crash and he picked this up at around $80-$85. He is really positive on the name in terms of its future growth. They have Facebook, Instagram, Whatsapp, etc. that really haven’t been monetized yet. Once that starts to push over, he thinks it will drive revenue per user. It is really a changing media Avenue. Not cheap, but they are growing at about 30%-35%.


Price: $112.220
Subject: NORTH AMERICAN - LARGE
Bias: DEFENSIVE
Owned: Yes
2016-04-05 COMMENT Hydro One
H-T
Steve DiGregorio

This is a core holding in Canada. You want to be invested in hydro clean power and avoid Alberta coal at all costs. The only negative he could say about this is that the government may sell some of their shares at some point. Dividend yield of 5.6%.


Price: $24.160
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2016-04-05 PAST TOP PICK Crius Energy Trust
KWH.UN-T
Steve DiGregorio

(A Top Pick Oct 30/15. Down 7.8%.) Has about an 8% yield, and trades at about a 50% payout ratio. Thinks it is going to grow EBITDA by 8%-10% next year. There is nothing not to like here.


Price: $8.500
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2016-04-05 TOP PICK TransForce Inc.
TFI-T
Steve DiGregorio

A free cash flow machine. The trucking Index in the US is at a 52 week high, and this company hasn’t followed, because they had put a Dutch auction to buy back $200 million of stock up to $22. It capped a little, and you are now seeing it drift over $22. Of the $200 million, only $60 million was tendered, which means a) the company’s $22 was a very opportunistic price and b) shareholders thought it was a very low price, so he feels it is probably worth more than $22. At the same time, they are investing quite a bit in "last mile", developing a relationship with Amazon (AMZN-Q), which is taking over the retail world. Has one of the best COs in Canada. Dividend yield of 3.08%.


Price: $22.470
Subject: CANADIAN DIVIDEND
Bias: UNKNOWN
Owned: Yes
2016-03-29 COMMENT High Liner Foods
HLF-T
James Hodgins

He is Short a little on this and Long Clearwater Seafoods (CLR-T) on the other side. They”ve had a couple of poor quarters in that their margins are shrinking and the cost of seafood has gone up as well as having some negative currency impact.


Price: $14.640
Subject: MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias: BEARISH
Owned: Yes
2016-03-29 PAST TOP PICK TeraGo Inc.
TGO-T
James Hodgins

(A Top Pick March 25/15. Down 37 4%.) Provides high-speed Internet service as well as media storage for high-speed data and network virtualization. The storage business is growing quite fast. Ridiculously undervalued. Probably a really strong take over candidate.


Price: $4.880
Subject: MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias: BEARISH
Owned: Yes
2016-03-22 STRONG BUY Ag Growth International Inc
AFN-T
Stephen Takacsy, B. Eng, MBA

POT-T is very much a commodity business and can’t control prices any more.  He prefers the equipment side like this one.  They have smaller, less costly items that have to be replaced more often.  Sales are booming in South America.  This is a great buying opportunity where it has just bottomed out.


Price: $35.460
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2016-03-22 BUY Canopy Growth Corp.
CGC-X
Stephen Takacsy, B. Eng, MBA

Mostly institutional money they manage.  Mostly BMO shares.  You get the money management business almost for free.  They keep selling BMO shares and investing in businesses.  They are increasing the dividend and buying back shares.  There is some illiquidity, however. 


Price: $2.690
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2016-03-22 SELL Nobilis Health Corp
NHC-T
Stephen Takacsy, B. Eng, MBA

He got out.  He had enough after a few months.  There is a lack of faith in management.  The report about seeking alpha was nonsense.  The company has to grow up in terms of investor relations.  The stock will stay low, but it doesn’t mean it can’t recover once this has passed.


Price: $4.200
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2016-03-18 HOLD Alimentation Couche-Tard (B)
ATD.B-T
Gavin Graham

Have made the transformational acquisition they have been looking for, for the last decade. Got all the Shell stations in Eastern Canada for $2.4 billion. Oil and gas companies don’t really want to be in the business of running thousands of retail gas stations in the country. The fact that they have done a really big deal and there is some pressure on the share price at the moment does not take away from the fact that this is the one Canadian retailer that has been an enormous success in the US and now in Europe.


Price: $56.830
Subject: GLOBAL
Bias: UNKNOWN
Owned: Unknown
2016-03-17 DON'T BUY Twin Butte Energy
TBE-T
Mason Granger

He knew this company when it transitioned into a dividend paying entity, back when that was in vogue to get a higher re-rate in terms of the valuation multiple. This is a higher cost heavy oil producer. In this downturn, it has exasperated a lot of problems in terms of the sustainability of the dividend, and put an enormous amount of balance sheet stress on the company. Their credit facility is around $275 million, and got cut back to around $225 million. There is apparently a non-revolving component of that of about $85 million that comes due at the end of April. They have about 6 weeks to figure out how they are going to pay back about $60-$70 million. They have to sell the company or sell assets.


Price: $0.140
Subject: CANADIAN ENERGY
Bias: UNKNOWN
Owned: Unknown
2016-03-15 COMMENT Argonaut Gold
AR-T
Bruce Campbell (1)

Sold his holdings a couple of years ago. It’s mostly in Mexico with a small part in Northern Ontario, which has been pushed out to 2018-2019. Good operators, but just didn’t like the macro view. Had some cost overruns a couple of times. Looks like there is value and it should be trading at $2.50-$3 to make it equal to the others, but there has been 2 years of lagging valuations. Not terrible, but it goes sideways and will only move up after seniors move and if gold went to $1400-$1500.


Price: $1.650
Subject: CANADIAN LARGE
Bias: OPTIMISTIC
Owned: No
2016-03-10 BUY Metro Inc (A)
MRU-T
Keith Richards

Chart shows a classic stair step pattern. He likes stocks that run up, take a little bit of consolidation, and then start to run up again.


Price: $43.470
Subject: TECHNICAL ANALYSIS
Bias: CAUTIOUS
Owned: Unknown
2016-03-09 DON'T BUY Bank of America
BAC-N
Brian Acker, CA

Bank of America (BAC-N) or Citigroup (C-N)? His calculations are indicate that the balance sheet of both banks are impaired. The stated assets aren’t worth what the balance sheet shows. They are better than any of the European banks, but thinks they are just far too big. Each of them have $2 trillion of assets, and the market is just not liking them right now. On any inflation, these 2 will feel it more than any American stock. His model price on this is $16.93, so there is a 30% upside.


Price: $13.140
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US$
Owned: Unknown
2016-03-09 TOP PICK IBI Group
IBG-T
Fabrice Taylor

Likes turnaround stories. An old business and has been around for 40 years, therefore you have lots of annual financial statements to look at to get comfortable as to where this company can go. An engineering and architecture company, specializing in urbanization, construction, transit lines. Urban economies grow a lot faster than national economies. He likes that they have a lot of debt, because in a turnaround, if you get it right, you get a lot more leverage on the stock price. Also, likes to see signs of a turnaround plan getting traction, and this is in this stock. Thinks that in a couple of years this will be an $8-$9 stock..


Price: $3.840
Subject: NORTH AMERICAN
Bias: UNKNOWN
Owned: Yes
2016-03-07 HOLD Pivot Technology Solutions Inc.
PTG-X
Jason Donville

Has been a really frustrating stock, because they have a nice sustainable dividend yield of 9%-10%, but management recently attempted to do a transaction which would essentially allow them to buy out the company for next to nothing from shareholders. Feels the stock is weak right now people are concerned that management is not working in the best interests of investors. He has similar concerns. There is a dark cloud hanging over the management team. Thinks there will be some resolution on this. Just raised their dividend again and the payout ratio is low, so there is no dividend cut coming.


Price: $0.395
Subject: GROWTH STOCKS
Bias: UNKNOWN
Owned: Yes
2016-03-04 DON'T BUY Altagas Ltd
ALA-T
David Cockfield

A reasonable pick for dividends? Held a little of this in portfolios, but it was really based on the possibility of gas exports and LNG. That seems to be fading into the background, because Australians have opened up some big fields, and the price of an LNG has fallen on big international markets by about 50%. Also, questions if the pipeline gets built to Tidewater in the Pacific. Dividend yield of 6% is maybe a little open to question.


Price: $33.100
Subject: CANADIAN & ETF's
Bias: UNKNOWN
Owned: Unknown
2016-03-01 COMMENT Sherritt International Corp.
S-T
Benj Gallander

Not comfortable with management. Debt load is too high. Has a big project in Madagascar that has not worked out. It is always one of the dangers when you put a lot of money into something that is far away. As commodity prices come back, it should help them. The company has tremendous upside, but feels bankruptcy is not out of the question.


Price: $0.750
Subject: CONTRARIAN INVESTING
Bias: UNKNOWN
Owned: Unknown
2016-02-26 N/A A Comment -- General Comments From an Expert
A Commentary
Michael Decter

Markets. We are in for choppy markets for the 1st half of the year. This is unusual volatility. Fundamentals are a lot stronger than what the market would indicate, but there is a lot of fear and just enough uncertainty everywhere to keep it like a bungee jump. There are some worrisome things, but also some great bargains in terms of the multiples things are trading at. There is emerging market debt, low oil price and uncertainty over China, which will keep volatility high, but this is not 2008. There is no evidence anywhere of credit markets freezing up or of world trade coming to a halt. Feels it is a market correction, a “10% once in 3 year” event, not a “30% once in 30 year” event.


Price: $0.020
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: _N/A
2016-02-24 WATCH Petrowest Corp
PRW-T
Bruce Campbell (2)

(Market Call Minute.) Getting more constructive on this company all the time. They were awarded the main civil work on the Site C Dam in BC, which is going to have big things for their numbers. Would like to see it improve a little bit more technically before adding.


Price: $0.405
Subject: CANADIAN
Bias: CAUTIOUS
Owned: No
2016-02-11 BUY Bank of Nova Scotia
BNS-T
Kash Pashootan

TD-T vs. BNS-T.  They are different in terms of the business.  Both get half of their revenue from outside of Canada.  BNS-T has been beaten up more because the Latin American economy is less stable than the US.  It is a good entry point if you don’t have exposure to Canadian banks.  It will be a 9% return including dividend for 5 years amongst volatility.


Price: $52.660
Subject: NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias: CAUTIOUS
Owned: Unknown
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 Fortis Inc.
FTS-T
John O'Connell, CFA

The recent deal was viewed very negatively by the street. It is a huge investment on this company’s part compared to its market cap. A lot of Americans are going to be getting shares in the company, and are not very happy about it. About 50% of those shares are going to be recycled. The company is being viewed increasingly as empire builders.


Price: $37.470
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
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
2016-02-05 TOP PICK Metro Inc (A)
MRU-T
Allan Meyer

Trading around its market multiple on earnings, so is pretty comfortable with it. It also has a low debt level and good interest coverage. For uncertain times, this is a nice stable area where you won’t see a huge amount of fluctuation in their revenue or earnings. 1.36% dividend yield.


Price: $41.090
Subject: CANADIAN & ETF's
Bias: UNKNOWN
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 Empire Company (A)
EMP.A-T
Barry Schwartz

These types of companies are saturated. What you will see from these companies is what they have done in the past, generating a significant amount of free cash flow, and using it to make further acquisitions. Grocery stores are the best performers in a lousy market. He sees more value creation over the long-term.


Price: $25.910
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
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 COMMENT Lundin Mining Corp.
LUN-T
Jaime Carrasco

Recently made an agreement with the Ecuador government. If anyone is going to put this project to good use, it will be the management behind this company. Long-term this is a great project and has a lot of potential. It has a touch of political risk because of Ecuador.


Price: $3.290
Subject: RESOURCE, UTILITY & REITs
Bias: CAUTIOUS
Owned: Yes
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
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