Stockchase Daily News RSS The Days Comments by Experts http://www.stockchase.com/ en A Comment -- General Comments From an Expert <p><span style="color: #ff0000; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Markets.</strong></span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> He always believes in having structure in place in order to be prepared for any market conditions. Having Shorts in place as a form of insurance, is something he believes in. Up to the end of August, markets were up 12% and everybody was happy. When you put Shorts in place, it is actually a drag on performance. It is not until you get to a place like Sept/Oct when the market starts to head south, that you all of a sudden realize the value of having insurance. He uses Shorts for hedging purposes as well. If he has a Long position, he wants to Pair that with a Short position. What people sometimes miss in Pair trading is the relationship between the 2 stocks. You can have a Long and Short position, and both of them can go down and you can still make money, as long as your Short goes down more than your Long. Conversely you can do this in up markets as well. He tries to ignore the day to day movement of the Market itself.</span></p> http://www.stockchase.com/opinions/view/139868 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139868 Tweed Marijuana Inc. <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">This is pretty early for the sector. One of his observations is that it is less profitable than people think. It is really an agricultural stock with all the risks that are associated with it. Also, there is a lot of hype behind it. He has been Short this one since April. Feels it is overvalued and overhyped. There is going to be more competition for them.</span></p> http://www.stockchase.com/opinions/view/139869 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139869 NXT Energy Solutions <p><span style="font-family: Arial; font-size: 11pt; font-weight: normal; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold;">This has had a very volatile year, and he generally doesn&rsquo;t like this kind of volatility. He still thinks the fundamentals are great. The market has been waiting 1<sup>st</sup> for the Pemex deal since Aug/13. As a consequence, the share price traded off. However, it has also forced them to look beyond Pemex for another buyer of the product. Last week Pacific</span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> Rubiales (PRE-T), one of their first clients, announced exploration deals in Mexico. Feels this helps to speed up the process. However, there has been a transformation in Pemex and NXT is the best way to play it. He would be very surprised if he didn&rsquo;t hear an announcement on one of those deals before year-end.</span></p> http://www.stockchase.com/opinions/view/139870 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139870 Guardian Capital Group <p><span style="font-family: Arial; font-size: 11pt; font-weight: normal; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold;">He has been Long Guardian Capital (GCG.A-T) and Short the Bank of Montr&eacute;al (BMO-T) since April/09.</span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> There is about $2.50 left on the stub for this company. It is a very solid business and has been growing and firing on all 4 cylinders for the last 48 months. They have started to sell some of the BMO shares, using some of the capital for strategic acquisitions. It will take some time for some of those investments to pan out. Feels their perspective on this is a great one. Expects that at some point this company will get taken out.</span></p> http://www.stockchase.com/opinions/view/139871 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139871 Shawcor Ltd. (A) <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Really likes this and just acquired more recently. The #1 pipe coater maker globally. Also, the dominant player in the offshore segment, the fastest-growing segment of the oil/gas world. Likes this, it is a great, long-term hold, because we don&rsquo;t know who is going to be building the next pipeline or where it is going to be built, but this company is very likely going to be in the middle of it. Also, this is going to be an attractive acquisition for somebody down the road.</span></p> http://www.stockchase.com/opinions/view/139872 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139872 RepliCel Life Sciences <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Life sciences. Have an interesting regenerative technology. For example, they can take a hair follicle and extract certain cells, and then replicate them 1 million times and then re-inject them back in areas where they are needed. It is very, very rare to have a company this small with 2 products in phase 2 trials. Feels phase 2 is when life science companies add the most value. Next year they will have a 3<sup>rd</sup>, which is very rare for a company. Thinks they will put the company up for sale next year, and it will become a bidding war.</span></p> http://www.stockchase.com/opinions/view/139873 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139873 Carfinco Financial Group <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">About 6 weeks ago, a large Spanish bank decided to get into the Canadian subprime business in terms of auto lending and made a cash offer of about $11.25. This is very good news for the non-banks in general. The stock peaked in Jan/Dec at around $12 and fell to the $8 level. Doesn&rsquo;t think there will be another bid coming. If you own, he would tender your shares.</span></p> http://www.stockchase.com/opinions/view/139874 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139874 EnerCare Inc <p><span style="color: #ff0000;"><strong><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">(A Top Pick Sept 18/13. 67.35%.) </span></strong></span><span style="color: red; font-family: Arial; font-size: 11pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Pairs Trade.</strong></span><strong></strong><strong></strong><strong><span style="font-family: Arial; font-size: 11pt; font-weight: normal; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold;"> Went long on this stock and Shorted Just Energy (JE-T). Still really likes this name. They rent water heaters, primarily in southern Ontario. Have very predictable and steady business. Good yield. Trades at about 7X EBITDA.</span></strong></p> http://www.stockchase.com/opinions/view/139875 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139875 Patient Home Monitoring <p><span style="color: red; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>(A Top Pick Sept 18/13. Up 61.54%.)</strong></span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> Still likes the name. This is a consolidator in the healthcare space. They are acquiring businesses at relatively attractive multiples and using their paper as currency to finance them. This gives them the ability to cross sell their products. Feels there is a lot of potential within the healthcare space.</span></p> http://www.stockchase.com/opinions/view/139876 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139876 Reitmans (Canada) Ltd. (A) <p><strong><span style="color: red; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">(A Top Pick Sept 18/13. Up 12.23%.)</span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> <span style="color: red;">Short.</span></span></strong><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> He got out at about $6 in January.</span></p> http://www.stockchase.com/opinions/view/139877 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139877 Just Energy Group <p><strong><span style="color: red; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">(A Top Pick Sept 18/13. Up 11.81%.) </span></strong><span style="color: red; font-family: Arial; font-size: 11pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Pairs Trade.</strong></span><strong></strong><strong></strong><strong><span style="font-family: Arial; font-size: 11pt; font-weight: normal; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold;"> Shorted this stock and went long Enercare (ECI-T). This is primarily door-to-door salesman trying to convince customers to switch to their product. He doesn&rsquo;t understand their business model, and has a lot of issues with their accounting. Feels this has further downside so he continues to Short it.</span></strong></p> http://www.stockchase.com/opinions/view/139878 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139878 Computer Modeling Group Ltd <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Provides software that helps companies to model very sophisticated oil/gas fields and helps with the extraction. Previously had been exclusively focused on oil, but have branched out to gas. Very attractive long-term play. Nice yield. They are just on the cusp of developing new software that will be rolling out in the next couple of quarters. Attractive at these levels. A lower risk, lower volatility way to play oil and gas.</span></p> http://www.stockchase.com/opinions/view/139879 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139879 Enterprise Group <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Very cheaply valued and views this as a nice play on pipeline construction. They have a business called Arctic Therm which he thinks is the jewel of the business. Also, have Calgary Tunnelling. Feels the volatility in the stock is unjustified.</span></p> http://www.stockchase.com/opinions/view/139880 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139880 Horizon North Logistics <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">There is some potential news coming out today. The BC legislature is going to announce the tax regime for LNG. The perception is that as long as it comes in at less than 7%, it would be perceived as a positive for camp stocks such as this and Black Diamond (BDI-T). Has traded off pretty hard along with the other oil/gas related names.</span></p> http://www.stockchase.com/opinions/view/139881 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139881 Guestlogix <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><span style="color: #ff0000;">Is Ebola scaring investors off?</span> His view is that the Ebola crisis may have some short-term impact on airline and airline traffic, but this one is really a long-term play on ancillary revenues that airlines charge. He likes the stock, it is a long-term structural story. The street is waiting to see what the next couple of quarters looks like. A great story.</span></p> http://www.stockchase.com/opinions/view/139882 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139882 Counsel Corporation <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">There is a lot of attractive valuation in this stock. Have had a lot of costs this year in preparing for their bank license, and they don&rsquo;t have any of the revenues. He is hopeful that when the bank license comes in, they will be able to capitalize on their investments.</span></p> http://www.stockchase.com/opinions/view/139883 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139883 Boulevard Industrial REIT <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Still likes this. Likes the industrial REIT space and its predictability. They are getting attractive cap rates within the sector, so they can make attractive acquisitions at 8%-9% cap rates and borrowing at 4%. If you have long-term lock-in leases at 9% and you are borrowing at 5%, the 500 basis point margin is very attractive. In industrial REITs, there are virtually zero costs to property owners. Feels this is going to be a growth stock going forward.</span></p> http://www.stockchase.com/opinions/view/139884 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139884 easyhome <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Likes this. They have a furniture business, but really make their money through Easy Finance which is a finance of the furniture. Have been building up their business in terms of top line growth for the last 5 years, but what he is starting to see now is that it is falling down to the bottom line. The move in profitability for the last 4 quarters has been great and he thinks that continues. A long-term growth story. Attractive at these levels.</span></p> http://www.stockchase.com/opinions/view/139885 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139885 Descartes <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">CEO has stepped down, but the transition has been smooth. This is one of the most predictable stocks. On the 1<sup>st</sup> day of a quarter, they know 90% of what their revenues are, so they spend the next 90 days working on the 10%. This is a stock that never disappoints because it is so predictable.</span></p> http://www.stockchase.com/opinions/view/139886 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139886 Exchange Income <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">He has been Short this name most of this year and just covered his position in August. They are a holding company. Have 2 primary businesses, a regional airline business and maintenance and construction of cell phone towers in the US. AT&amp;T is a customer. Just announced they are going to sell this US division. </span></p> http://www.stockchase.com/opinions/view/139887 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139887 Currency Exchange Intl. <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">This is a name that he has held since the IPO. It is a great core holding. They are a wholesaler of foreign exchange, so they provide physical currencies to any financial institution. They are in the supply and logistics business. Likes this as a low risk business. Feels they are going to be growing at about 30%. Have applied for a bank license, which would be a catalyst for them in terms of both marketing and improving profitability. Has a lot of growth potential.</span></p> http://www.stockchase.com/opinions/view/139888 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139888 Laurentian Bank <p><span style="color: red; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Short.</strong></span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> A Pairs trade going Long on Callidus Capital (CBL-T). He put this one on just to hedge some financial risk. Nothing against the bank, it&rsquo;s just that they have the smallest capital markets group, so if markets go up, this is the least likely to participate. It also takes off some market risk for him.</span></p> http://www.stockchase.com/opinions/view/139889 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139889 Callidus Capital Corp <p><span style="color: red; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Long.</strong></span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> A Pairs trade with a Short on Laurentian Bank (LB-T). This is an asset based lender, which he feels is an underserved niche in Canada. Although the big banks have them, it&rsquo;s not something they really embrace. They don&rsquo;t like high risk lending. An attractive growth story.</span></p> http://www.stockchase.com/opinions/view/139890 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139890 Cineplex Inc <p><span style="color: red; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Short.</strong></span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> They have a 77% market share in Canada, so there is not much scope for them to grow by acquisition. This was the worst summer in North American cinemas in 17 years on an inflation adjusted basis. Thinks they are going to have some issues in their Q3 numbers. When attendance goes down 13%, it is going to have a big impact on profitability. There are also longer-term structural issues that they face. Netflix is competing against them. There is going to be Pick &amp; Pay on cable TV. There was a recent announcement that HBO is going to have direct offering, so Netflix is looking to bypass some movies. Yield of 3.6%. Valuation is at 30X earnings and 13.5X EBITDA, which to him is very expensive.</span></p> http://www.stockchase.com/opinions/view/139891 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139891 A Comment -- General Comments From an Expert <p><span style="color: red; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Markets.</strong></span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> He is calling this V bottom snap back a technical bounce, and we could see lower lows. The TSX dropped all the way from $15,500 to $13,800 and he expects we will recover some of that. Feels the correction is far from over. There are some issues out there to deal with. The slowing growth in Europe, some of the slower numbers we have seen in the US and yet you still have the potential for a US rate rise. China numbers are not blow away anymore. Earnings are not blowing anybody away. He wants everyone to stop saying &ldquo;let&rsquo;s buy the dips&rdquo;.</span></p> http://www.stockchase.com/opinions/view/139892 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139892 Manulife Financial <p><span style="color: red; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Banks or Insurers?</strong></span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> He thinks he would lean more towards lifecos at this point on a longer-term basis. There is a little bit of risk on this one short-term, which is why there was a selloff. There is still real leverage within the portfolio regarding higher interest rates and stronger stocks. There might be a little bit of earnings risk on this so he wouldn&rsquo;t put all of your money in.</span></p> http://www.stockchase.com/opinions/view/139893 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139893 Avigilon Corp <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">He is still on the sidelines on this. Any time a stock drops as much as this did, particularly in technology, he gets interested in trading it, but it really has been an elevator ride down. Some think their product is really getting commoditized which could stunt their growth going forward. He would like to wait and see what the next quarter comes out with.</span></p> http://www.stockchase.com/opinions/view/139894 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139894 Whitecap Resources <p><span style="color: #555555; font-family: Arial; font-size: 11pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">This is a great story. Has good growth going forward and has had very accretive acquisitions in the last little while. He took some profits when they were lightening up on oils, and bought some of the back last week. A good, long-term story.</span></p> http://www.stockchase.com/opinions/view/139895 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139895 Tekmira Pharmaceuticals <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Doesn&rsquo;t know exactly what is going to happen with the treatment of Ebola. The stock has had a tremendous run. They are miles away from being a valuation story at this point. If you have made some money in the stock, he would be inclined to take profits and move on.</span></p> http://www.stockchase.com/opinions/view/139896 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139896 Coca-Cola Company <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Thinks growth is really being compromised. Look at what Pepsi&rsquo;s strategy has been in terms of diversification and adding product. The core market of Coca-Cola has really slowed down. They haven&rsquo;t diversified enough into other product growth areas to upset that slowdown. Multiple is still relatively high.</span></p> http://www.stockchase.com/opinions/view/139897 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139897 Aecon Group Inc <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">They take on the contracts, often fixed priced, and then they can get into overruns which crimps the margins totally. Trying to get their costs under control, and just have not been able to do it in a time when the industry is booming.</span></p> http://www.stockchase.com/opinions/view/139898 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139898 Athabaska Oil Sands Corp <p><span style="color: red; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>(A Top Pick Nov 29/13. Down 28.86%.)</strong></span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> This was just a bad call. Not generating cash flow right now. A great, long-term asset story. Even at today&rsquo;s oil price you have an NAV well in excess of $10. Insiders are buying.</span></p> http://www.stockchase.com/opinions/view/139899 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139899 Walt Disney <p><span style="color: red; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>(A Top Pick Nov 29/13. Up 26.63%.)</strong></span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> Firing on all cylinders and have the right assets. Also, they cross sell tremendously well. Their acquisitions have been phenomenal.</span></p> http://www.stockchase.com/opinions/view/139900 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139900 Martinrea <p><span style="color: red; font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>(A Top Pick Nov 29/13. Up 34.41%.)</strong></span><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> Getting a new CEO who is clearly an industry guy. During the fight among the board, this created an opportunity. The stock became pummelled unnecessarily and it became a great Buy. Thinks he is getting closer to exiting the stock rather than buying at this time.</span></p> http://www.stockchase.com/opinions/view/139901 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139901 Bank of America <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Thinks you are past the worse with this one. With the $70 billion settlement they have had now, they have taken the hit on the Countrywide Financial. Feels the US bank valuations are still relatively attractive. There is a lot of earnings leverage, and he expects another move out of the housing sector.</span></p> http://www.stockchase.com/opinions/view/139902 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139902 Walgreen Co <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">The growth is still there and they still have market dominance. Well-positioned in terms of where the consumer is going and where the retail pharmacy industry in general is positioned.</span></p> http://www.stockchase.com/opinions/view/139903 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139903 Air Canada (B) <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">This is volatile. Fuel costs coming down is clearly a benefit for them. Offsetting that is a weaker Cdn$. The industry seems to be getting a lot more disciplined. Thinks the stock goes higher over the next couple of years.</span></p> http://www.stockchase.com/opinions/view/139904 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139904 Cameco Corporation <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">The largest player in the world which is where people move generally when the sector starts to turn around. To play uranium directly, he would use Uranium Participation (U-T). This is effectively like buying the commodity. Even the Japanese seem to have enough inventory for now. Longer-term, uranium prices have to go higher. You are not going to find new supplies anywhere close to the current price.</span></p> http://www.stockchase.com/opinions/view/139905 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139905 Detour Gold <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Traded in and out of this in the last week. The interesting thing is that this is the levered play right now. They have a high cost of production at about $1200 an ounce. With the US$ going higher, that is another downward move on gold. Because this is a higher risk play right now, he would stay on the sidelines.</span></p> http://www.stockchase.com/opinions/view/139906 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139906 Precision Drilling <p>The problem with drillers is that they are dependent on the cash flow of the oil/gas industry, so when oil/gas stocks are coming down and their cash flows are getting impaired everyone worries that the drillers are going to take the first heat on that. Thinks the drillers are still a great long-term story. Valuations in Canada are much cheaper than they are in the US. The drillers generate very good cash flows. <span style="color: #ff0000;"><strong>(See Top Picks.)</strong></span></p> http://www.stockchase.com/opinions/view/139907 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139907 Lundin Mining Corp. <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">This is more of a pure play on copper based on where their properties are and the acquisition they did last week. Copper is clearly struggling at the $3 level, but from what he has seen, a lot of the estimates on copper global production and global demand, it looks like everyone was expecting a $400-$500 thousand surplus coming into this year, but it now looks like it is going to be more of a deficit. Very well-positioned in terms of growth.</span></p> http://www.stockchase.com/opinions/view/139908 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139908 Interfor Corp <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Doesn&rsquo;t own any right now, but in the past week, especially the way the market has rolled over, he has been looking at the lumber names. There is no better sector that benefits when you got the Cdn$ falling like it is. This one is probably the most levered with the most growth potential so he would be inclined to take this over the West Fraser Timber (WFT-T) at this point. The recent move back down in US interest rates is going to be positive for the US housing market.</span></p> http://www.stockchase.com/opinions/view/139909 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139909 Alibaba Group Holding <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">There is a lot of positive momentum here. What is very impressive is how it has held up in this market decline. The high valuation technology sector has done very well, where there haven&rsquo;t been earning disappointments. People are paying up for the growth potential down the road. Has a bit of a question mark on the Chinese accounting, and would discount the stock a little bit on that basis. If you are going to own a high risk stock, you could do worse than owning this one.</span></p> http://www.stockchase.com/opinions/view/139910 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139910 Google <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Some people were disappointed with the earnings last week, but he still thinks this company is better positioned than almost anybody at technology. People keep forgetting that they own the Android operating system, the most powerful OS and the one that is running better than 70% of the global cell phones right now. At some point they are going to monetize that. They own search, and when he looks at where data and data management is going, he feels they have tremendous value. Making very good acquisitions. You get all of this for about a market multiple or a little bit more.</span></p> http://www.stockchase.com/opinions/view/139911 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139911 Trinidad Drilling Ltd <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Stock has dropped 40%. There was a bit of an earning&rsquo;s miss last quarter, but it was very explainable as they were in the process of moving some rigs to new locations. They have tremendous growth, especially with their joint venture they have with Halliburton on a global basis for deep rigs. Dividend yield of 2.63%.</span></p> http://www.stockchase.com/opinions/view/139912 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139912 Catamaran Corp <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">This is just a good growth story in healthcare management. Basically going online to manage all your pharmacies and health care needs. Obama care is driving everything to these private and public exchanges these guys own. Have been kicking out excess cash flow which has been used to make acquisitions. You are getting all of this for about a 20 multiple.</span></p> http://www.stockchase.com/opinions/view/139913 Tue, 21 Oct 2014 00:00:00 -0400 http://www.stockchase.com/opinions/view/139913