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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
2015-07-29 TOP PICK AGT Food & Ingredients
AGT-T
Michael Sprung

The seem to be in the right place at the right time with more and more of the world turning to other forms of grain/pulses, as a substitution on gluten ingredients. Next year is the year of the pulse, which will give them a lot more attention. They have been expanding their food ingredients side. This is one of the dominant players in pulses globally. Dividend yield of 2.01%.


Price: $30.640
Subject: CANADIAN LARGE
Bias: UNKNOWN
Owned: Yes
2015-07-27 DON'T BUY Cameco Corporation
CCO-T
Bruce Campbell (1)

(Market Call Minute.) Still doesn’t like this company. You don’t need to own it. Wait for uranium to go up some year or decade, and then look at it.


Price: $16.890
Subject: CANADIAN LARGE
Bias: CAUTIOUS
Owned: No
2015-07-23 PAST TOP PICK Crescent Point Energy Corp
CPG-T
Martin Davies

(Top Pick Jun 25/14, Down 51.92%) The market thinks it should cut its dividend, but they are adamant they don’t have to do that.  13.6% is the dividend.  They have a relatively good balance sheet.  It is a buy here.  It is trading at 2008/09 levels.


Price: $20.450
Subject: OIL & GAS
Bias: BULLISH on OIL & GAS
Owned: Yes
2015-07-23 TOP PICK Husky Energy
HSE-T
Martin Davies

Downstream assets.  They buy oil at this level and turn it into gasoline, etc.  It is the place to be.  They repurposed their upstream oil and gas assets to very long life, low decline, and low capital intensity.  Very profitable projects.  They have a series of well thought out horizontal drilling projects in Western Canada.  They use a cookie cutter approach and get very high rates of return.


Price: $22.580
Subject: OIL & GAS
Bias: BULLISH on OIL & GAS
Owned: Yes
2015-07-23 TOP PICK Precision Drilling
PD-T
Martin Davies

Not all rigs are the same in this world.  Some are getting to be old technology.  The utilization rate is much better for their rigs.  They have fantastic tier one blue chip clients.


Price: $6.660
Subject: OIL & GAS
Bias: BULLISH on OIL & GAS
Owned: Yes
2015-07-22 TOP PICK Richelieu Hardware
RCH-T
Allan Meyer

Not really a hardware store, but they supply hardware to various things. Import a lot and manufacture and distribute specialty hardware. It does have free cash flow and net cash on the balance sheet. Strong balance sheet. Dividend yield of 0.83%.


Price: $66.000
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2015-07-17 COMMENT Cameco Corporation
CCO-T
Brendan Caldwell

He would have been much more bullish on this company when energy prices were higher, as uranium would have been seen a much more viable alternative. It is going to be a while before you see a rebound in alternative sources of energy.


Price: $16.860
Subject: CANADIAN VALUE
Bias: UNKNOWN
Owned: No
2015-07-09 DON'T BUY Crescent Point Energy Corp
CPG-T
David Burrows

This group is under pressure. A lot of people bought energy over the last several months thinking it is cheap and that oil prices have to move higher. His contention is that with lots of capital available and new technology that is very efficient at finding new energy, it is likely that the price deck is going to stay low for quite some time. Hedge funds, in particular, went double weight this year, and in the last few weeks, have been throwing in the towel. In this company, the risk is that we are trading virtually on the lows and a lot of people owned this for the dividends. If for some reason the company decides they are going to need to cut the dividend, there are a lot of people that are going to sell their stock.


Price: $26.070
Subject: NORTH AMERICAN - LARGE
Bias: BULL on US EQUITIES
Owned: No
2015-06-30 TOP PICK Tucows Inc
TCX-Q
Jason Donville

Essentially the GoDaddy.com of Canada. Have been around since the early 90s back in the days when you had an Internet service provider, and the ISPs have all gone with this company. Another high compounding stock. ROE is about 29%. Trades both in Canada and US. It is liquid in the US, but not very liquid in Canada, so try to buy the stock in the US. Has a huge amount of excess cash flow, so they are continuously buying back their stock.


Price: $27.850
Subject: GROWTH STOCKS
Bias: UNKNOWN
Owned: Yes
2015-06-23 DON'T BUY Bombardier Inc (B)
BBD.B-T
Paul Taylor

The ‘C’ series is the key thing for the organization.  There are cost overruns and they are behind schedule and then there is the order book.  Business jets are still an improving environment.  It is a big capital expenditure for little revenue.  In rails there are specific projects, particularly in France, but overall there are a lot of question marks.  You have to watch the ‘C’ series and the drain in resources.


Price: $2.470
Subject: CANADIAN
Bias: BEARISH on CANADIAN MARKET
Owned: Yes
2015-06-19 COMMENT Merus Labs International
MSL-T
Peter Imhof

He likes the story. There are other players in the area as well. New management came in about a year ago and signed a couple of deals, and are probably going to sign a few more. Trades at a huge discount than its competitors, so people are moving into it. Thinks they were marketing in the US a few weeks ago, and you can see the volume has picked up.


Price: $3.140
Subject: NORTH AMERICAN - SMALL
Bias: OPTIMISTIC
Owned: Yes
2015-06-19 BUY Transalta Corp
TA-T
Benj Gallander

It has a lot of potential and a nice dividend.  There are a lot of people sitting on two sides of the fence as to where it is going to go.  Long term it should do well, but there is not enough clarity right now.


Price: $9.820
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Yes
2015-06-15 BUY Spartan Energy Corp
SPE-T
Teal Linde

He equates it to RRX-T.  They are focused on investing all their cash flow and have low debt.  They have proven their properties are fine and it is notable how management can make a difference.  He owns RRX-T.


Price: $3.150
Subject: NORTH AMERICAN
Bias: CAUTIOUS
Owned: No
2015-06-12 SELL Long Run Exploration
LRE-T
Swanzy Quarshie

She would call this a Sell right now. This is not the right environment now for a company like this. Unfortunately they implemented a dividend when they had too much debt and when commodity prices were in a correction. Dividend was unsustainable so they had to get rid of it.


Price: $0.850
Subject: OIL & GAS
Bias: OPTIMISTIC on ENERGY
Owned: Unknown
2015-06-11 COMMENT Merus Labs International
MSL-T
Ross Healy

The CEO is X-Teva.  This company is more loved by institutional people than by analysts.  Forecasts are steadily going down.  His fair market value for the company is about 48% below where it is presently trading.  It has a really good balance sheet and he hopes they have some pretty good surprises next year.  This company has some risk.


Price: $3.350
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Unknown
2015-06-10 TOP PICK Crescent Point Energy Corp
CPG-T
Dennis Da Silva

Acquiring Legacy (LEG-T). They have garnered a reputation for being a serial issuer. In this kind of oil price environment, people probably now appreciate that they issued stock and didn’t leverage up to do a lot of deals they did. Leaves them in a strong position. The 10.08% dividend is safe given the hedging they have in place for this year, and about a 3rd into 2016. The balance sheet is still solid.


Price: $27.470
Subject: CANADIAN RESOURCE
Bias: OPTIMISTIC
Owned: Yes
2015-06-09 DON'T BUY Long Run Exploration
LRE-T
John O'Connell, CFA

Doesn’t like this. It is one of those companies that was acquisitive and used a lot of debt. It hasn’t played out well. There are not a lot of buyers out there and they have the ability to be very picky. This one is probably being run by its bankers at this stage.


Price: $0.750
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2015-06-09 TOP PICK Spartan Energy Corp
SPE-T
John O'Connell, CFA

(A Top Pick June 30/14. Down 21.59%.) This has all the characteristics that you want in an oil/gas company. Very strong management, strong balance sheet and good resources with low cost structures. Have grown their production by about threefold since it became public. This is a company that could snap its fingers and raise $200 million and make a major acquisition and double its production.


Price: $3.160
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2015-06-08 HOLD Bonavista Energy Corp
BNP-T
Eric Nuttall

It has been a tough hold.  He wants to revisit the name.  It trades at a discount to peers.  It struggled.


Price: $6.930
Subject: OIL, GAS & SMALL-CAP CANADIAN
Bias: SELECTIVE
Owned: Unknown
2015-06-08 DON'T BUY Long Run Exploration
LRE-T
Eric Nuttall

Got themselves into a pickle in terms of debt heading into a collapse of crude price.  Debt to cash flow is 4.6 times so they are getting up there.  Has not owned it in 2 years.  If you believe in $70 oil this name could double, but at $65, no.  They could potentially sell some assets.


Price: $0.720
Subject: OIL, GAS & SMALL-CAP CANADIAN
Bias: SELECTIVE
Owned: No
2015-06-02 TOP PICK Alcoa
AA-N
Lorne Steinberg

This has been over $30 five times in the last 15 years. It is a cyclical company, so you have to rent it, not own it. They are in a sweet spot right now. Have made a bunch of acquisitions and have gotten more into the value added part of the aluminum business. Aluminum prices are historically low, but this is still throwing off free cash flow. Earnings are at about $1 a share and US auto demand is going to rise 25% over the next couple of years, simply because of emission standards. Dividend yield of 0.95%.


Price: $12.620
Subject: Deep Value Global Equities
Bias: UNKNOWN
Owned: Yes
2015-06-02 DON'T BUY Enbridge
ENB-T
Lorne Steinberg

Preferred Series E. This is a rate-reset preferred. In Canada rates have been cut, so the sense is that the company that has issued these preferreds are not going to take you out in 5 years, and will leave you there with a possible lower dividend yield. Wouldn’t dump this while Canada is in kind of a rate dumping mode. At some point in time the cycle will turn and you will have an opportunity.


Price: $20.560
Subject: Deep Value Global Equities
Bias: UNKNOWN
Owned: No
2015-06-02 COMMENT IBC Advanced Alloys
IB-X
Fabrice Taylor

Have a technology that allows them to work with certain alloys and metals. They signed a contract to supply one of the big defence companies. The only negative is that it takes a long time to gain volume when you are dealing with defence contractors. If it does go, these guys can make a lot of money. He owns a little bit of this.


Price: $0.110
Subject: NORTH AMERICAN
Bias: CAUTIOUS
Owned: Yes
2015-05-28 HOLD Home Capital Group
HCG-T
Patrick Horan

It is okay to hold this stock.  It is a derivative of oil because of the momentum out of Western Canada.  He thinks we are at $50-60 this year and $60-70 next year.  At that rate Calgary will do ‘okay’.  Then there will always be a discount on this stock.  He was short at the beginning of this year, but is not any longer.


Price: $42.200
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: No
2015-05-27 BUY on WEAKNESS Spartan Energy Corp
SPE-T
Bill Bonner

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


Price: $3.230
Subject: CANADIAN ENERGY
Bias: UNKNOWN
Owned: Yes
2015-05-26 DON'T BUY AGF Management (B)
AGF.B-T
Norman Levine

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


Price: $7.010
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2015-05-22 DON'T BUY Bombardier Inc (B)
BBD.B-T
David Cockfield

A speculative stock. Have a great business in trains, subways and railcars, and have done well and are known throughout the world. The big problem is their airplane. They seem to be working through the C series. If they can get that plane certified and start selling it, this is a great time to be selling that particular type of plane. If it works, it will be fantastic. If it doesn’t, there is some talk they may have to sell off the active part of the business. He would be too risk adverse to recommend this.


Price: $2.470
Subject: CANADIAN
Bias: CAUTIOUS
Owned: Unknown
2015-05-22 COMMENT Denison Mines Corp
DML-T
Bill Carrigan

Basically you have to watch the price of uranium, and it has to go through $40. The bellwether in the sector is Cameco (CCO-T), so you have to watch that. This stock is not going to do anything unless Cameco breaks out to new highs.


Price: $1.040
Subject: TECHNICAL ANALYSIS
Bias: UNKNOWN
Owned: Unknown
2015-05-20 TOP PICK Convalo Health International Corp
CXV-X
Bruce Campbell (2)

Basically in the acquisition of addiction rehabilitation centres in the US. Just signed a couple of deals today. Growing by acquisition as well as organically. It’s the same group that brought in Patient Home Monitoring (PHM-X). Michael Dalsin (Chairman) has said that the organic growth of this one will make the organic growth at Patient Home Monitoring looks like it is really nothing at all. Have a fair bit of cash on the balance sheet. Has a pipeline of 10 companies in advanced discussions for acquisition.


Price: $0.630
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2015-05-20 DON'T BUY Pure Multi-Family REIT LP
RUF.U-X
Paul Gardner, CFA

This buys apartments and residential homes in the US. He loved that space up until a couple of months ago because of the recovery in the US housing market. There is some association with Pure Industrial REIT (AAR.UN-T), and he wants them to do one thing and one thing only. He would avoid this.


Price: $5.240
Subject: FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias: BULLISH
Owned: No
2015-05-19 DON'T BUY Crescent Point Energy Corp
CPG-T
Brian Acker, CA

His model price is $5.62. They are paying out $2.76. Earnings for 2015 is a negative $0.10 and a negative $0.09 for 2016. Yield is 9.41%.


Price: $28.750
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US$
Owned: Unknown
2015-05-19 TOP PICK Spartan Energy Corp
SPE-T
Zachary Curry

(A Top Pick July 10/14. Down 21.5%.) This ultimately comes down to the management team, which has a proven conservative track record of executing. Great balance sheet. At $40 oil they would still be able to grow their production if they wanted. Their discipline is to spend within cash flow.  Debt levels are nice and low. Doesn’t pay a dividend which he views as a real positive.


Price: $3.130
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Yes
2015-05-15 TOP PICK Boardwalk REIT
BEI.UN-T
Derek Warren

In spite of the oil problems, numbers came out recently and they were fine. People living in Calgary will continue to live there, and perhaps are more inclined to continue renting an apartment as opposed to buying a house. This is a real opportunity to buy one of Canada’s top-performing REITs. Dividend yield of 5.83%.


Price: $59.530
Subject: REIT's
Bias: OPTIMISTIC
Owned: Yes
2015-05-14 SELL Bombardier Inc (B)
BBD.B-T
Allan Meyer

He is not a fan.  It does not make the grade.  They have some significant problems.  They are trying everything to deal with it.  You may want to pare up selling it with some gains for tax reasons. 


Price: $2.680
Subject: CANADIAN
Bias: CAUTIOUS
Owned: Unknown
2015-05-14 COMMENT Bombardier Inc (B)
BBD.B-T
Jim Huang

In a bit of a transition. They have been trying to market their C series more efficient jets. It is a better mouse trap, but they are up against stiff competition and are still struggling to get the C series going. Thinks the company will be okay, but will depend on the success of the C series.


Price: $2.680
Subject: NORTH AMERICAN
Bias: UNKNOWN
Owned: No
2015-05-13 TOP PICK Patient Home Monitoring
PHM-X
Michael Decter

This is a firm with tremendous growth. It is an American business that came to Canada to raise some equity money. Under Obama care 12 or 13 million more people have health insurance. The American health system is struggling to move people out of hospitals and look after them at home. To look after them at home, you need home monitoring. This company is buying up a lot of the small firms that do that and consolidating them. Has a lot of room to grow.


Price: $1.510
Subject: CANADIAN
Bias: OPTIMISTIC
Owned: Yes
2015-05-08 HOLD Long Run Exploration
LRE-T
Ross Healy

At these energy prices and the earnings this company is making, it is very difficult to forecast successfully that it will survive. If he owned it, he would continue to sit on it and cross his fingers.


Price: $0.820
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Yes
2015-05-07 COMMENT Apple
AAPL-Q
Benj Gallander

Not his kind of company. Has been thinking for years that it was overvalued, but it keeps on going up. It does share buybacks which makes no sense to him. They’ve taken on debt that also makes no sense to him. At some point he thinks they will have difficulties.


Price: $125.260
Subject: CONTRARIAN INVESTING
Bias: UNKNOWN
Owned: No
2015-05-06 TOP PICK Pivot Technology Solutions Inc.
PTG-X
Jason Donville

This is a value added reseller of software. What makes it interesting is that John Sculley, the former CEO of Apple, is the chairman, but not a passive one. Haven’t done a lot of marketing in Canada, but believes they are going to do a lot of marketing in June-July. Trading at 7X 2015 earnings, and maybe 4X 2016 earnings. Don’t bet the farm on this, but it is worth a few bucks. He could see it at $1.00 in a year’s time.


Price: $0.500
Subject: GROWTH STOCKS
Bias: UNKNOWN
Owned: Yes
2015-05-06 BUY on WEAKNESS Sylogist Ltd.
SYZ-X
Jason Donville

(Market Call Minute.) Software company based in Calgary. Does a lot of stuff with the government. Stock is expensive, otherwise it is great. Look to buy at something closer to $5.50-$6.


Price: $7.270
Subject: GROWTH STOCKS
Bias: UNKNOWN
Owned: Unknown
2015-05-06 PAST TOP PICK Valeant Pharmaceuticals
VRX-T
Jason Donville

(A Top Pick June 24/14. Up 101.07%. My records do not show Jason being on BNN on that day, so I am using the figures that BNN is showing.) Great company and he has never sold a share. Thinks this is one of those companies that will continue to push on.


Price: $260.200
Subject: GROWTH STOCKS
Bias: UNKNOWN
Owned: Yes
2015-05-01 TOP PICK Americas Silver Corp.
SPM-T
Jaime Carrasco

What is interesting is that the rock that is being produced is all low-grade production. Just by diverting to high grade, they can really kick up production when the time is right and when we need silver prices much higher. Ridiculously cheap. Good management and good locations.


Price: $0.210
Subject: RESOURCE, UTILITY & REITs
Bias: BULLISH on GOLD
Owned: Yes
2015-04-30 TOP PICK Banco Santander SA
SAN-N
Rick Stuchberry

(Top Pick Apr 16/14, Down 16.17%) China is going to become the largest consuming country and these guys are the box on the supplier as far as purchasers are concerned.  He thinks this one could really surprise you on the upside.  The price has stabilized here.


Price: $7.520
Subject: CANADIAN LARGE & ADRs
Bias: CAUTIOUS
Owned: Yes
2015-04-27 SPECULATIVE BUY Bombardier Inc (B)
BBD.B-T
Peter Brieger

Just bought this recently, and feels that what triggered the purchase was a management change. It has been a family business for years and years, and sometimes it is better for a family to get out of the way, and leave it for professional management. It now could be quite interesting. A good speculation.


Price: $2.420
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2015-04-27 DON'T BUY Patient Home Monitoring
PHM-X
Stephen Takacsy, B. Eng, MBA

His impressions were that they are focused on an acquisition and roll up strategy.  Their conference call did not focus on operations.  He does not know if they can integrate their acquisitions and operate them properly. 


Price: $1.390
Subject: CANADIAN
Bias: CAUTIOUS
Owned: No
2015-04-23 TOP PICK TorstarCorp (B)
TS.B-T
John Zechner

They are sitting on a lot of cash.  Over half of their market capitalization is cash.  7.78% dividend yield.  You get a great yield while you wait.


Price: $6.890
Subject: NORTH AMERICAN - LARGE
Bias: DEFENSIVE
Owned: Yes
2015-04-22 COMMENT Bombardier Inc (B)
BBD.B-T
Jerome Hass

Has never been a big fan of this company. The issue has largely been with their accounting, which he doesn’t think is the most robust. Also, the transport division for him, for the last 15 years, has been run for cash flow as opposed to profitability. Not a fan.


Price: $2.540
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: UNKNOWN
Owned: No
2015-04-21 PAST TOP PICK Spartan Energy Corp
SPE-T
John O'Connell, CFA

(A Top Pick April 14/14. Down 15.25%.) When he recommended this, it was producing about 3000 barrels a day. It is now producing about 10,000 barrels a day. Has one of the best balance sheets in the country. One of the best and most respected management teams. Oil prices are down 50% and this company is down 15%, which is a testament to how well the company has been managed and how well the resource play holds up compared to others. Still a Buy at these levels.


Price: $3.280
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Yes
2015-04-21 DON'T BUY Tourmaline Oil Corp
TOU-T
David Burrows

Tourmaline (TOU-T) or Paramount Resources (POU-T)? He would buy financials before he bought energy.


Price: $41.630
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2015-04-20 TOP PICK Chemtrade Logisitics Inc.
CHE.UN-T
Keith Richards

Stock tends to trade between $19 and $22. It is at the top of its trading range, but thinks there is going to be more money rotating into it over the summer. Good dividend of around 5%. Low volatility.


Price: $22.030
Subject: TECHNICAL ANALYSIS
Bias: CAUTIOUS
Owned: Yes
2015-04-15 COMMENT Canaccord Financial Inc
CF-T
Peter Hodson

A very, very cheap company and trading almost below its BV and almost below its cash value as well. They are very highly tuned to the capital market, particularly the Junior markets in terms of technology and resources. He really doesn’t know why investors are not appreciating the stock. It has high leverage to capital markets, a great balance sheet, and great earnings potential if things go well, and as these finances come back, their leverage on investment banking fees and advisory work is very, very big. Good company.


Price: $7.260
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2015-04-14 DON'T BUY Teck Resources Ltd. (B)
TCK.B-T
Don Vialoux

Historically this does very well from October to probably through April of each year. However, this year the stock is not doing what it normally should do on a seasonal basis. It has actually established a short downward trend. Trading below its 20 day moving average and underperforming the TSE Composite. There are better opportunities elsewhere, within the base metal sector.


Price: $16.840
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: UNKNOWN
Owned: Unknown
2015-04-13 DON'T BUY Bombardier Inc (B)
BBD.B-T
Colin Stewart

He would stay away from this. It is too tough to figure out. Unfortunately it has consistently disappointed on its earnings. Has a lot of debt.


Price: $2.600
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: No
2015-04-06 DON'T BUY Legacy Oil and Gas Inc.
LEG-T (Dead)
Eric Nuttall

If you believe the price of oil is falling there are some companies you don’t hold.  This one has a stretched balance sheet.  They need $53 oil for them not to trip their covenants.  If they recover, will investors go back to them?  He is not going to bottom feed.


Price: $1.850
Subject: OIL & GAS - JUNIORS
Bias: BULLISH on ENERGY
Owned: Unknown
2015-04-06 DON'T BUY Long Run Exploration
LRE-T
Eric Nuttall

They were caught offside with debt levels at 5 times debt to cash flow.  The dividend is cut to zero.  Debt and production growth are still concerns.  They are challenged, as are most companies.  Oil needs to get to $70 (local price) in order for them to growth production and resume the dividend.  He believes they will sell assets to reduce debt.  It’s not a terminal situation, but he does not buy companies with stressed balance sheets.


Price: $0.740
Subject: OIL & GAS - JUNIORS
Bias: BULLISH on ENERGY
Owned: Unknown
2015-04-06 DON'T BUY Pacific Rubiales Energy Corp.
PRE-T
Eric Nuttall

It is in a terribly financial situation.  They were deploying capital into several countries and now debt to cash flow is very high. 


Price: $3.080
Subject: OIL & GAS - JUNIORS
Bias: BULLISH on ENERGY
Owned: No
2015-04-06 PAST TOP PICK Spartan Energy Corp
SPE-T
Eric Nuttall

(Top Pick March 10/14, Up 14%) This is a business model that is based on sustainability.  One of the best niche oil players he can find.  Even with oil at $50 wells generate positive rates of return for them.


Price: $3.100
Subject: OIL & GAS - JUNIORS
Bias: BULLISH on ENERGY
Owned: Yes
2015-04-02 TOP PICK Spartan Energy Corp
SPE-T
Mason Granger

Very astute acquirers of light oil assets. Have a great balance sheet with about 1.2X debt to cash flow. They don’t pay a dividend. Completely unhedged, so you get all that upside if oil rebounds towards the end of the year. This is a company that plays thematically into Buy the Buyers, so he likes to invest in companies that are going to opportunistically be able to acquire assets from distressed companies and come out of the cycle as a stronger company.


Price: $2.940
Subject: CANADIAN ENERGY
Bias: UNKNOWN
Owned: Yes
2015-03-26 DON'T BUY Apple
AAPL-Q
Benj Gallander

He thought APPL would get creamed at some point but overall it has continued to go up.  Tech companies do get beaten down at some point.  You have to keep coming back with sexy products.  He thinks it is crazy that they took on more debt when they had so much money in the kitty.  Tech companies do get beaten up at some point.


Price: $124.240
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: Unknown
2015-03-26 WATCH Bombardier Inc (B)
BBD.B-T
Benj Gallander

They had difficulties 10 years ago.  Then recently they took on extra debt and the ‘C’ series was delayed.  He had been pessimistic all this time and felt they would do an equity raise.  In this case he was right.  They took on more debt and the balance sheet is ugly.  He recommends waiting for more risk to come off even though the upside will remain the same.  They are, however, a leader in the field.


Price: $2.510
Subject: CONTRARIAN INVESTING
Bias: CONTRARIAN
Owned: No
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