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

Table View - Opinions in Detail

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Implied Signal Stock Symbol Company Comment Source Program Airdate Airdate Price Opinions $ Goal Expert Program Topic Expert's Bias Own or Relationship Actions
  
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-12-17 $0.020

Energy. Has limited exposure with about 8% weighting to oil. The oil companies he has exposure to, although senior, have been impacted to a degree, but are going to be the long-term beneficiaries of this episode. This is a classic cycle where things are good, people become overextended, debt to cash flows get extreme, banks turn their backs on exploration companies and the larger, more stable  producers gobble them up at cheaper prices. He expects that this will happen again. Although he has an 8% exposure to oil, he also has some beneficiaries in the retail space that will benefit from this type of situation. This spurs spending at all levels of the economic strata, but it also increases confidence. That not only increases the multiplier effect of dollars being spent, but the velocity of those dollars being spent.

Gordon Reid US EQUITIES OPTIMISTIC _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-12-17 $0.020

Gordon Reid’s website articles. Everybody is welcome to read these articles on such things as estate taxes, T11 35 requirements if you hold foreign assets, wills and will estate allocations, market timing, simple math on bonds and how they actually work, etc. He also asks for ideas from anybody on an article and what they would like to see. You can email him at info@goodreid.com.

Gordon Reid US EQUITIES OPTIMISTIC _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-12-17 $0.020

Markets. The positive showing today was a combination of things. Oil seems to have found a floor, at least for one day. The federal reserve is clearly not in any hurry to raise interest rates. The economic indicators that the Fed is looking at certainly shows there is no inflation. Headline inflation came down sharply today, by 0.3%. Even the core inflation, which strips out energy and food, was very, very reserved, so there is no reason at all to think that the Fed is going to lift interest rates, even in April. In the meantime, the US economy is picking up steam. He has been looking at things to buy, but it has been so volatile lately, he has been sitting on the sidelines and watching. By and large, every stock that he buys, pays a dividend.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-12-17 $0.020

Energy. For every winner from oil, there is a loser, in Canada particularly. The redistributive effect of low gasoline prices, particularly for the working poor in the US, is bigger than any policy that the Obama administration has managed to pass in 6 years. In other words, this is putting more spendable cash in the pockets of poor to middle income families in the US, which is going to be used for consumer spending, and is not going to end up in Saudi Arabia or Venezuela or Iran. This is highly positive.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-12-17 $0.020

Insurance companies or banks? Insurance companies have traditionally looked for long assets because they have long risks. Right now long bonds are a particularly unrewarding asset class and insurance companies have to find something other to do. This means they are taking more risks. Although he is starting to buy some insurance companies, they are not a substitute for the banks. They don’t have the earnings power or the multiple sources of income that the banks have.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-12-17 $0.020

Preferred shares or bonds? 3 good things about preferred shares and 1 bad thing. 1.) They get the dividend tax credit, so you will pay a lower rate of tax than you’d pay on interest from bonds. 2.) The good quality preferred shares by banks or utility companies are currently paying around 3.5%-3.75% for a 5 year maturity, compared to bonds paying about 2.25%. 3.) Since 2009, virtually every preferred share issued in Canada, has been a rate reset preferred share, that will have a change in the dividend rate at the end of the first 5 years, based on an increment of whatever the Canada 5 year bond is paying at that time. The worst thing that can happen is that you have to own it for 5 years, at what might become a lower than market rate in year 3 or year 4. The bad thing about preferred shares is that they are quite illiquid. He prefers the Armageddon Prefs issued by the banks.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-12-17 $0.020

Which U.S. listed bank would you prefer? He is concerned about buying European banks for 2 reasons. First of all is currency risks. The euro could easily fall further against the US dollar. Also, they have a lot of suspect sovereign and bank paper from southern Europe that is underperforming. Big US banks are in a good environment right now. He doesn’t own Citibank (C-N) or Bank of America (BAC-N), but thinks they are going to do pretty well. The 2 big investment banks, Goldman Sachs (GS-N) and J.P. Morgan (JPM-N) are also doing well. For a pure commercial bank, Wells Fargo (WFC-N) is probably the class of the field. If he were going to buy another bank, it would probably be Wells Fargo.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC _N/A View
HOLD AAPL-Q Apple Market Call (BNN TV) 2014-12-17 $109.410

Continues to think this is a good company. Changed considerably from when he 1st purchased 7-8 years ago. The iPhone 6 is their newest product, but there are other things coming down the pipe, including the Apple watch, which he thinks will get more attention as it is launched. Also, ApplePay, which could redefine this company in the next 3-5 years. Trades at a very reasonable multiple of about 15X earnings. Ex-cash it would be considerably less than that. Still have about $150 billion cash globally. Since Steve Jobs, their capital allocation policy has changed dramatically and now they pay a very fine dividend as well as buying back a lot of stock. They buy back about 6% of the float per year. In China now and have just scratched the surface on their deal with China Mobile.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
TOP PICK BA-N Boeing Market Call (BNN TV) 2014-12-17 $125.060

Traded down a little on the oil story. This is kind of illogical. The thesis is that with lower oil prices, the drive for new fuel efficient airplanes will be lessened, which doesn’t make a lot of sense to him. It is the competitive landscape that matters. One airline against another as beneficial margins and competitive margins lead to pricing decisions. They have a $375 billion backlog, which is pretty much clear sailing through the end of the decade in terms of their delivery schedule. Thinks you could probably see a mid-teens type long-term growth. Dividend yield of 2.95%.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
BUY BAM.A-T Brookfield Asset Management (A) Market Call Tonight (BNN TV) 2014-12-17 $56.250

Among the smartest management team out there, particularly in Canada. They have a whole variety of assets in real estate, infrastructure, railroads and energy. They also manage a lot of money in funds, in which they get paid a straight up fee plus an override on profits. As those funds build up and get to the tens of billions of dollars, that amounts to an enormous cash flow, which are not assets at risk, just free money at being very good at what they do. Should be a core holding for most Canadians.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Yes View
PAST TOP PICK BCE-T BCE Inc. Market Call Tonight (BNN TV) 2014-12-17 $52.610

(A Top Pick Jan 9/14. Up 22.14%.) This may be the best performer of the major Canadian telcos in 2014. Benefits from being a content provider, as well as owning the tubes the signals go through. Bell Fibe has done pretty well.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Yes View
PAST TOP PICK BIN-T Progressive Waste Solutions Inc Market Call Tonight (BNN TV) 2014-12-17 $34.890

(A Top Pick Jan 9/14. Up 36.25%.) Have a lot of operations in the US. Benefited from the weak Cdn$. There is a little bit of consolidation going on in the industry. This is the kind of a company that is a huge winner when fuel prices go down. Also, as the economy expands, there is more commercial garbage to get rid of.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Yes View
BUY BNS-T Bank of Nova Scotia Market Call Tonight (BNN TV) 2014-12-17 $65.030

Has always liked the International exposure. Thinks that their holdings in Mexico, Colombia and Chile are very valuable, as well as their banking interests in Thailand. Pundits aren’t crazy about it right now as they feel this bank presents more risks than the other Canadian banks. He thinks it presents more growth opportunity. Inexpensive and presents a good entry point.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Yes View
PAST TOP PICK CLH-N Clean Harbors Market Call (BNN TV) 2014-12-17 $49.750

(A Top Pick Jan 2/14. Down 18.89%.) A solid company, but the valuation has been depressed because of its relationship to oil and gas. This is a services company that owns Safety-Kleen, and they take care of hazardous materials for the oil/gas industry. Feels that longer-term it has an opportunity to recover, when spending recovers in the oil patch. If he feels that it will recover in a short term he will probably stay with it, but if it is going to be mired in the whole energy issue longer term, he might move on.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
COMMENT CNQ-T Canadian Natural Rsrcs Market Call Tonight (BNN TV) 2014-12-17 $34.530

An oil sands company does not have the exploration risks that conventional explorer producers have. One of the advantages that the big oil sands companies have is that a lot of their CapX has gone into their plant. For the maturer ones, like this and Suncor (SU-T), that money has already been spent, so you don’t have to replace every well after you have completed it. This makes it easier to turn the tap on and off in terms of production, because that is mostly labour. He likes the very deep resource pool and that they are becoming more efficient producers. Thinks their breakeven point is in the $50 barrel range. He feels that oil will probably stabilize in the $60s.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Yes View
COMMENT CNR-T Canadian National R.R. Market Call Tonight (BNN TV) 2014-12-17 $78.160

The most efficient railroad in North America. Its operating margins are terrific. Balance sheet is pretty good. Funds from operations are pretty good. There is lots of room to increase the dividend. Although they have weather exposure in Canada and some exposure to the oil industry, they have a well diversified load in excess of 30,000 km of track. The company is fabulous; however, the stock is really expensive. If you could buy this at $60, it would be a terrific buy. He is not sure if it is ever going to go back to $60. He prefers CSX (CSX-N), a high-quality US carrier and trading at a much lower price earnings multiple, and with a higher dividend it is a better buy.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC No View
COMMENT ESV-N Ensco PLC Market Call (BNN TV) 2014-12-17 $28.430

Has fallen quite a bit. Longer-term, this as an opportunity to not only recover, but to move up in terms of price. They are a deepwater driller. They have contracted 63% of their deepwater rigs for the next 18 months. The risk is going to be the day rates going forward. If oil stays down at these levels, there is no question that day rates will suffer. 10.3% dividend is high. They probably have the financial capability to pay it, but in this type of environment, a lot of companies would view it as quite responsible to draw back and to cut the dividend somewhat, in order to husband the cash. Feels this stock is okay.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
COMMENT GE-N General Electric Market Call (BNN TV) 2014-12-17 $24.660

Dividend is definitely safe. They pride themselves on stability and long-term benefits to shareholders and shareholder value. Have some exposure to Russia, but not extreme and isn’t something that should be factored in. Their oil exposure is something you have to take into account. Have been acquirers of oil properties and oil expertiseover the last several years. In divesting other areas of their business, oil has taken on a larger percentage of their business.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
SELL GILD-Q Gilead Sciences Inc. Market Call (BNN TV) 2014-12-17 $102.400

He has concerns. This company is often recommended, but he feels the stock price has been largely built on Solvaldi, a hepatitis C drug, which has been incredibly successful, but they have built their financial fortune on the fact that they sell it for $1000 a day in the US. There are competing products coming to market. One is through AbbVie (ABBV-N) and one through Merck (MRK-N). He fears the competitive landscape will change and, although Solvaldi will continue to be an effective drug, it will not get anywhere near the $1000 a day, which will be a big financial headache for the company. If you own, he would recommend that you take profits.

Gordon Reid US EQUITIES OPTIMISTIC No View
BUY GOOGL-Q Google Market Call (BNN TV) 2014-12-17 $506.450

Hasn’t really done very much over the last year. Expectations on the street were fairly high. This company doesn’t give guidance. They are quite independent that way. However, he likes that because he sees a lot of companies giving guidance. If they miss by just a hair, the street reacts very violently; this encourages people to micromanage over short periods. These are long-term assets and have to be viewed that way. Thinks that in 2015 this company is going to do good things. Earnings are probably going to rise in the mid to high 20%s, revenues probably in the 18% range. Trading at less than 20X earnings.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
TOP PICK GOOGL-Q Google Market Call Tonight (BNN TV) 2014-12-17 $506.450

A very impressive company. Preeminent in search and preeminent software for mobile devices with their android software. They are the “go to” for advertisers who want to get their message out on any kind of computing device, including mobile devices. You also get what he calls lottery tickets, with the driverless car or whatever they might be developing. This company has almost $100 per share in cash and trading at probably 19X or so 2015 earnings. If you take away the cash, it is trading more like 15X or 16X. Doesn’t pay a dividend but are sitting on $62 billion, which will be burning a hole in their pocket. Feels they are either going to start to pay a dividend or are going to start to buy back shares.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Yes View
PAST TOP PICK GS-N Goldman Sachs Market Call (BNN TV) 2014-12-17 $185.030

(A Top Pick Jan 2/14. Up 6.07%.) Trading right around Book, so it is slowly coming back. Have moved their ROE from mid-single digits into low double digits, so he thinks they have opportunity for expansion of their multiple. It also has its opportunity for organic growth.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
TOP PICK HXL-N Hexcel Corp Market Call (BNN TV) 2014-12-17 $39.910

A derivative play and they are in the structural materials business. They do the carbon fibre material, and two thirds of their business is with Boeing and Airbus. Between the 2 they have over $1 trillion of airplanes that have been ordered and on the block to be assembled. This company makes about $5 million an airplane, and there are thousands and thousands of them that will be produced over the next decade. Trading at a very reasonable multiple and has a good growth rate of around 15% per year. A fine cash flow company with a cash flow of about 7.5% yield.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
COMMENT IBM-N IBM Market Call (BNN TV) 2014-12-17 $151.930

Gained a tremendous amount of benefit from a long 4-5 years of cost-cutting, and it was well orchestrated. They clearly articulated how they were going to cut costs to the benefit of the bottom line, and they did that. He has been very cautious on this for a number of years because you can only cut costs so much, before you start to cut to the bone and affect your ability to produce revenue. Revenue has really only grown low single digits for a very long time. The market was paying a multiple much higher than that for growth that had much more sustainability.

Gordon Reid US EQUITIES OPTIMISTIC Unknown View
DON'T BUY IGM-T IGM Financial Inc. Market Call Tonight (BNN TV) 2014-12-17 $44.420

The mutual fund industry is under pressure and is going to remain under pressure. There are new disclosure requirements coming out in July and he doesn’t know how that will impact it. Exchange traded funds are taking a bite. At the same time, this company has benefited from the stock market upsurge and it is a pretty good yielder. This is not an industry that he would like to be in right now.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC No View
DON'T BUY JNJ-N Johnson & Johnson Market Call (BNN TV) 2014-12-17 $104.070

Made up of 3 major components, the consumer division, the medical device division and pharmaceutical. Trading at about 18X earnings right now, and 2 of the divisions, consumer side and diagnostics, are not doing that well. The pharmaceutical side is the only one that is really doing well. A little too expensive for him. You have to be very pointed in how you buy these companies. Although health companies are good companies, they have outgrown their earnings in terms of valuations. A lot of that was in search of yield.

Gordon Reid US EQUITIES OPTIMISTIC No View
COMMENT L-T Loblaw Companies Ltd Market Call Tonight (BNN TV) 2014-12-17 $60.080

Canadian grocery segment is a pretty competitive area. It is a pennies and nickels business. He has always been concerned about the execution risks. They had a famously horrible time reorganizing their distribution warehousing and logistics and had stockouts in stores for years. They may have that under control now. Given that the stock has had a run up, he doesn’t feel compelled to own it.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC No View
TOP PICK LEA-N Lear Corp. Market Call (BNN TV) 2014-12-17 $0.480

Primarily automotive seating or interior work. Basically provides to all the major producers around the world. The run rate in North America is around 17 million units. Over 20 million units in Europe and over 21 million in Asia. Trading at a very modest multiple of around 10X earnings and has good growth ahead of it. Dividend yield of 0.87%.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
COMMENT LYB-N LyondellBasell Industries Market Call (BNN TV) 2014-12-17 $75.600

Stock has fallen precipitously. US producers have lost their competitive advantage to Europeans, because ethylene prices have fallen much faster in Europe than in the US. This has created a disadvantage to American producers. However, that can be built back very quickly. These things are very fluid and it depends on the movement and relationship between WTI and Brent, the crack spreads, etc. There is an opportunity here, but remember that it is all based on what your view is on energy prices.

Gordon Reid US EQUITIES OPTIMISTIC No View
DON'T BUY MBT-T Manitoba Telecom Services Market Call Tonight (BNN TV) 2014-12-17 $27.160

Everybody thought this was going to be a takeover target and there was going to be a huge amount of value released. That turned out not to be the case. He would go with the big ones rather than this one. The breakup value might be $40, but it is not going to be broken up.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Unknown View
BUY MX-T Methanex Corp Market Call Tonight (BNN TV) 2014-12-17 $53.150

This has suffered from the perception that anything to do with petrochemicals is poison. The stock has taken a major nosedive and thinks it has been way oversold. Methanol is made out of natural gas, which is very inexpensive right now. While the price of methanol has come down, so has the price of input. Feels it is a very good entry point at this level.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Yes View
TOP PICK NA-T National Bank of Canada Market Call Tonight (BNN TV) 2014-12-17 $47.210

Tremendously oversold, along with all the other Canadian banks. At today’s closing price, it is paying about a 4.2% yield and trading at around 9.5X of what he expects they will earn in 2015. Sold off because it has been computed that it has the largest exposure to the Canadian oil industry in its wholesale banking of any of the Canadian banks. He doesn’t see many Canadian oil companies going bankrupt in the next little while. Oil companies are cutting their dividends and cutting their CapX, but that doesn’t mean they are not paying their bank loans. This bank probably has less exposure on loans to oilfield workers and mortgages in Alberta, then the other Canadian banks.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Yes View
COMMENT QCOM-Q Qualcomm Market Call (BNN TV) 2014-12-17 $72.210

Having trouble, not only with the Chinese license situation, but also with the Chinese government which is saying they have a monopoly. They are trying to weaken them. It’s a natural thing for governments to do. This is something that you just have to build into the normal course. Usually they negotiate their way out of these situations and it costs them some money, but long-term, the benefit of this company is that they do have a stranglehold on the chipset market for the smart phone market. This market, for the next 5-10 years, is expected to grow 15%-17% per year. A good story. The future is a little cloudy and this is why he diversifies.

Gordon Reid US EQUITIES OPTIMISTIC Unknown View
PAST TOP PICK RYL-N Ryland Group Market Call (BNN TV) 2014-12-17 $37.100

(A Top Pick Jan 2/14. Down 15.56%.) He was early on this. Homebuilding and how the homebuilders did was very lumpy in 2014. We haven’t seen as much of a release in terms of credit as he thought we would. Homebuilders are still really tied up because it is really tough to qualify for a mortgage. It is still at only 1 million homes being formed in the US. Just to keep up with organic growth of population, we need 1.5 million. He is content to stay here and thinks he will be rewarded.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
COMMENT S-T Sherritt International Corp. Market Call Tonight (BNN TV) 2014-12-17 $2.870

It took a while for Cuba to start opening up with the US. On today’s news, this stock went up over 25%. However, they are still not out of the woods. There is going to be tremendous opposition from the Republicans in Congress, particularly the 3 Republicans of Cuban-American heritage. It is far from clear whether Obama will have the clout, as a lame-duck president, to do what he really wants to do, which is to end the embargo. If he ends the embargo, then there can be trade between the 2 countries of all kinds of assets, and not just this opening salvo of $100 worth of cigars and a trip to a resort.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC No View
TOP PICK SU-T Suncor Energy Inc Market Call Tonight (BNN TV) 2014-12-17 $35.710

(A Top Pick Jan 9/14. Down 1.74%.) Had looked pretty good in the summer, but not so good now. When you play with commodities, this is what you have to live with. He likes this over all the other oil companies in Canada because it is vertically integrated. It not only has production, but also has refining and retailing. There are no exploration risks. Yield of 3.14%, which is not only sustainable, but might have room to go up.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Yes View
COMMENT TCK.B-T Teck Resources Ltd. (B) Market Call Tonight (BNN TV) 2014-12-17 $14.410

In all of the commodities they produce, the prices have gone down, particularly for coal. The question is, is the dividend of 6.25% sustainable with commodity prices this low. When you see a company with a yield of over 5%, the market is probably telling you that the dividend is not sustainable. He doesn’t see commodity prices rising any time soon.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC No View
COMMENT TRI-T Thomson Reuters Corp Market Call Tonight (BNN TV) 2014-12-17 $46.020

Has had the best year in about a decade. If you own, you are just kind of breaking even after 10 years. This last year was the good year. He would think the low hanging fruit has been picked now. It is a very difficult area. There is so much content on the Internet and so much of it is free. Also, they are against a very formidable competitor in Bloomberg. He owns some of their bonds.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Yes View
COMMENT TWTR-N Twitter, Inc Market Call Tonight (BNN TV) 2014-12-17 $35.570

Not a stock for the faint of heart and is still a speculative company, because it does not make money yet. Also, it is unclear as to how it is going to make money. If you can’t afford to lose the money, you should not be investing in companies like this.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC No View
DON'T BUY UPS-N United Parcel Services Market Call (BNN TV) 2014-12-17 $108.550

There are differences between this and FedEx (FDX-N). This company is more of a ground/domestic provider. FedEx is very much skewed to air freight. They said this morning that earnings were “bad”, but thinks that what really happens in a situation like this is that expectations are built in to a level, and if they fail to hit those expectations, they are characterized as “bad”. They had good growth and this is a good company. He tends not to buy these types of companies as they move into their sweet spot of the seasonal delivery time, because that is when they get the most attention and the premium build. He would tend to stay away from companies like this at this time. FedEx is probably the company he would go to, but not at this time.

Gordon Reid US EQUITIES OPTIMISTIC No View
HOLD UTX-N United Technologies Market Call (BNN TV) 2014-12-17 $113.900

A broad industrial. In the aerospace industry through Goodrich, which they bought 2-3 years ago. They own Pratt and Whitney and Sikorsky Helicopter. On the industrial side, they own Otis elevators and Lennox. This year hasn’t been great for them. Their CEO abruptly resigned. The other thing is China growth, which is causing him to look at this a little more closely. China is a big market for Otis and Lennox, and he is looking carefully to see if that growth is slowing and likely to continue to slow. A good core holding, but not a screaming buy.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
COMMENT UTX-N United Technologies Market Call Tonight (BNN TV) 2014-12-17 $113.900

Has been looking at US heavy metal, and this is a diversified heavy industrial company. Traditionally, a lot of their business comes from capital expenditures by big companies. Since the recession in 2007, capital expenditures by major US companies has been very muted, because factories have been under capacity and there hasn’t been a great need to spend a lot of money. He is starting to see a change. As the US economy accelerates, which is what we are seeing, and as employment expands, he is starting to see more CapX, which is very positive for this company. Maybe it’s not a bad time to start thinking about getting back in.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC No View
COMMENT VZ-N Verizon Communications Market Call (BNN TV) 2014-12-17 $46.440

This is a company that interests him somewhat. Likes that they bought out Vodafone’s portion of the wireless business. It was $130 billion acquisition, and immediately accretive. Not an expensive stock and pays a very fine dividend. (N.B. Dividends from US corporations are treated something like interest income and are fully taxable.) The most recent news was kind of disturbing in that they were having margin problems and troubles from a competitive standpoint in maintaining their pricing model.

Gordon Reid US EQUITIES OPTIMISTIC No View
COMMENT WCP-T Whitecap Resources Market Call Tonight (BNN TV) 2014-12-17 $12.050

A very popular stock, but vulnerable.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC Unknown View
COMMENT WJA-T Westjet Airlines Market Call Tonight (BNN TV) 2014-12-17 $32.320

Airlines right now are going to benefit from lower jet fuel prices, which is one of their major inputs. The other 2 major costs for airlines are leasing their planes and labour costs. This company has most of its fleet lease off its balance sheet. Right now he would say this is probably the most profitable period we have seen for world airlines in recent memory. However, he will not give up his pledge to never buy airline stocks.

David Baskin NORTH AMERICAN - LARGE OPTIMISTIC No View
DON'T BUY WMT-N Wal-Mart Stores Inc. Market Call (BNN TV) 2014-12-17 $84.230

Looked at this a while ago and came away thinking it is a company that is likely to do a little better into the future, but with the recent spike in price, that is probably priced in. This is a beneficiary of lower oil prices as it would lead people to spend some of their savings. The thing he has always worried about is that a very large percentage of their sales are based on groceries, a very low margin and tough business.

Gordon Reid US EQUITIES OPTIMISTIC No View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-12-16 $0.020

Markets.  He is not resource heavy and on purpose.  You don’t control the price of your product in those businesses.  Prefers to keep volatility of portfolios low.  He owns some oil-related stocks.  He has been worried about a global economic slowdown for many years, but did not see the oil glut coming.  Oil is the ultimate self-correcting commodity.  Spigots get turned off and have to be turned on very quickly.  This is temporary situation and will come roaring back.  It will take some time to stabilize over the next 6 months to a year.  Investors need to take extra risks.  There are some bargains.  You have to look at companies with temporary problems.  Dividends are very important as we will stay in a low interest rate environment. 

Stephen Takacsy, B. Eng, MBA CANADIAN OPTIMISTIC _N/A View
BUY A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-12-16 $0.020

Dividend paying equities.  Everyone is different.  It depends on your age.  No extra ordinary returns in bonds.  Occasional bargains.  There are some opportunities in energy royalty finds. 

Stephen Takacsy, B. Eng, MBA CANADIAN OPTIMISTIC Yes View
DON'T BUY A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-12-16 $0.020

Canadian Dollar.  It has gotten hammered along with oil prices.  It moves with oil short term and in the long term with interest rate differentials.  Thinks it is bottoming out with oil here.  Don’t sell Canadian $ and buy US$ at these levels.

Stephen Takacsy, B. Eng, MBA CANADIAN OPTIMISTIC Unknown View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-12-16 $0.020

Markets. The magnitude of the change in oil is not the big issue. The issue is the speed at which it happened. It is not difficult just for investors, but also for the big companies with their capital budgets, currency forecasts. It has all changed so quickly and so fast that it causes a lot of dislocation and a lot of anxiety. As a result you get a lot of volatility in the market. We don’t know exactly how this is all going to unravel. Everybody’s exposure to Russia is much less than it was in 1998. However, ramifications of what happens in Russia can spill over into the European banks, and you never know what connections that has to Brazilian enterprise, whether or not a company has to make a margin call and do it from a healthy enterprise in Brazil to a very unhealthy enterprise in Russia. This is a very scary time for investors and they have to be looking at their portfolios and figuring out how to prepare for it. He understands that US banks’ exposure to Russia is less than a half a percent. We will probably wake up to something Putin has announced in the middle of the night and it will be something pretty dramatic. Investors need to build some themes and the need to take a look at them. He looked back and figured that China was not a big capital building economy anymore, it was turning into a consumer driven and export driven economy. He then figured that it did not look all that promising for oil, iron ore, etc. Because of that, whenever he was constructing a portfolio, he was keeping it a little bit lighter on commodities and cyclicals, especially in Canada.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-12-16 $0.020

Banks. Canadian banks have pulled back recently because earnings were a little less than exciting. As a Canadian investor, you have to be really leery of somebody on television telling you to get rid of your Canadian banks. Royal (RY-T), Toronto Dominion (TD-T) and Bank of Nova Scotia (BNS-T) are really good core holdings. If interest rates go up, although he doesn’t think they’re going to go up a lot, this would be very good for Canadian banks. However, Canadian banks have a lot more exposure to the domestic Canadian economy. CIBC (CM-T) is the most exposed and TD and Scotia would be the least exposed. US banks, in relation to Canadian banks are going to look more attractive right now. It doesn’t matter what you do, money will probably leave Canadian banks, because a lot of US investors have been hiding in Canadian banks, and they are probably going to flow out into some of the US names.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-12-16 $0.020

Canadian-based ETF’s that follow the US S&P 500? Believes the S&P 500 will outperform the TSX, and has been his view for some time. As investors, we are really fortunate with the competition that has occurred in the space. You have to decide whether you want to be exposed in Cdn$’s or US$’s. He would argue that you should split your money into hedged and unhedged. Believes the Vanguard S&P 500 might be the cheapest.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs UNKNOWN _N/A View
COMMENT ACQ-T AutoCanada Inc. Market Call Tonight (BNN TV) 2014-12-16 $39.960

Stock price has done extremely well, but has probably got a little ahead of itself. Everybody is now asking about their exposure to Western Canada. It is quite a bit. Feels the recent fall is because it rose too fast and too quickly. Probably trading at a pretty fair valuation now. He likes what they are doing, but keep in mind that any of these consolidation plays eventually run out of steam and don’t always end well. The trend of a family owned dealership looking for an exit strategy, probably has another good 5 or 6 years. Definitely interested in getting back into this when he has cash available to do so.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs UNKNOWN No View
DON'T BUY AGF.B-T AGF Management (B) Market Call Tonight (BNN TV) 2014-12-16 $8.150

Cut their dividend by about 70%, which was a big surprise; because that was the only thing investors seemed to have with this company. If you own, you are left with a company that is in decline, its assets (net sales) he believes are in decline. Fundamentals and price trends have not been attractive to him. He would not be interested in buying this.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs UNKNOWN No View
BUY CCA-T Cogeco Cable Market Call (BNN TV) 2014-12-16 $69.730

Playing catch up.  Multiples on cable TV in the US are higher and it is following suit.  They feel they can make same tuck in acquisitions now. 

Stephen Takacsy, B. Eng, MBA CANADIAN OPTIMISTIC Unknown View
BUY CF-T Canaccord Financial Inc Market Call (BNN TV) 2014-12-16 $6.970

This stock is highly correlated to the stock market.  Trading below book value right now.  Now is probably a pretty good time to buy.  It is very dependent on the market.

Stephen Takacsy, B. Eng, MBA CANADIAN OPTIMISTIC Unknown View
HOLD CGX-T Cineplex Inc Market Call (BNN TV) 2014-12-16 $44.040

Big dividend and it moves around with the movie slates.  Not a cheap stock.  Well managed company.  Upside is limited as it is hard for them to grow much more.  Hold it for the dividend.  You can`t charge much more for popcorn. 

Stephen Takacsy, B. Eng, MBA CANADIAN OPTIMISTIC Unknown View
COMMENT CNQ-T Canadian Natural Rsrcs Market Call Tonight (BNN TV) 2014-12-16 $32.520

There has not been a lot of money made on this name in the last 18 years. You have to be really careful with this. He is not interested in owning anything in the space at this time.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs UNKNOWN No View
BUY on WEAKNESS CNR-T Canadian National R.R. Market Call (BNN TV) 2014-12-16 $76.590

Less exposure to oil than CP-T.  It never quite gets cheap enough for his metrics.  There will be some volatility now.  Buy about $70.

Stephen Takacsy, B. Eng, MBA CANADIAN OPTIMISTIC No View
TOP PICK CNR-T Canadian National R.R. Market Call Tonight (BNN TV) 2014-12-16 $76.590

This is trading off in sympathy with what is happening in oil. This is a great derivative play. What he finds interesting is that crude by rail and fracing sand shipments are about 9% of their business. They do a lot of merchandise, a lot of international intermodal with the best operating margins at about 37%. Yield of 1.31%.

Mike S. Newton, CIM FCSI NORTH AMERICAN - LARGE & ETFs UNKNOWN Yes View
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