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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
  
TOP PICK 6930-JP Nippon Antenna Market Call Tonight (BNN TV) 2014-11-04 $0.000

This profitable specialty company that makes antennas, is not just trading at around 10X earnings with a 3.2% dividend yield, but is truly trading for less than its net cash. If they shut it down today and just distributed the cash and gave the company a way, you would still have a profit.

Lorne Steinberg Deep Value Global Equities CAUTIOUS Yes View
PAST TOP PICK 6986-JP Futaba Corp Market Call Tonight (BNN TV) 2014-11-04 $0.010

(A Top Pick Oct 7/13. Up 38.45%.) Component manufacturer. This is one of those great Japanese value investments, and is still cheap. Trading for less than its full working capital. He can see 20% earnings growth a year for the next couple of years.

Lorne Steinberg Deep Value Global Equities CAUTIOUS Yes View
COMMENT A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-11-04 $0.020

Update on your Value Japanese investments? Japan remains the cheapest market in the developed world, even in emerging markets. He has always liked that Japanese companies have very low debt levels, often zero debt. Fantastic corporate governance. CEOs are not motivated by stock options, but are motivated to build a better company to hand off to the next CEO. They have so many great engineering companies that are best in the world of what they do that no one has ever heard of before, because they are not consumer product companies.

Lorne Steinberg Deep Value Global Equities CAUTIOUS _N/A View
COMMENT AEG-N Aegon N.V. Market Call Tonight (BNN TV) 2014-11-04 $8.080

Considers this as a deep value investment, and it has done well. An insurance company with significant assets in the US as well. They suffered a little because of the Dutch housing market which has not recovered yet. However, the worst is over for them and is selling at a discount to BV. Very good upside to this. 3.6% dividend yield.

Lorne Steinberg Deep Value Global Equities CAUTIOUS Yes View
HOLD AFL-N Aflac Inc Market Call Tonight (BNN TV) 2014-11-04 $59.480

An American insurance company, whose major business has been in Japan for decades. Incredibly well-run. It amazes him that a US company has been able to succeed in a different culture for so long. A weaker yen hurts this company, but doesn't think this will have a huge impact on the stock price. Not a cheap stock and they could be running into some short-term earnings issues, which could cause earnings to decline, probably due to currency.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
BUY on WEAKNESS BNS-T Bank of Nova Scotia Market Call Tonight (BNN TV) 2014-11-04 $67.190

Cutting 1500 jobs. That always disturbs him when he sees a very profitable company chopping jobs, possibly for shorter-term reasons. This is a great franchise like all Canadian banks, plus they have their operations in Latin America and the Caribbean. They seem to have run into some issues in some of those places. Canadian banking sector is the most expensive globally on a price to book valuation. Dividend is rock solid. In a strong financial condition. He wouldn't look at this unless there was a pullback.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
COMMENT BTU-N Peabody Energy Corp Market Call Tonight (BNN TV) 2014-11-04 $10.290

A coal company that stands out for quality of the balance sheet. They also have operations in Australia. Somewhat diversified by having some oil/gas assets. Very strong balance sheet and will be a survivor. Hasn't bought this yet as he doesn't have the confidence that things are poised to turn in the next year or so. If you were going to buy coal it would be this one.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
PAST TOP PICK CAM-LN Camellia PLC Market Call Tonight (BNN TV) 2014-11-04 $0.000

(A Top Pick Oct 7/13. Up 3.09%.) Second largest producer of tea in India, major producer of tea in Malawi and Bangladesh, citrus in California, farmland in Brazil, winery in South Africa and a private bank in the UK with some engineering companies. Very diversified. An amazing operation. Zero debt. One of those longest track records of rising dividends in the London market. Thinks it is trading at 50% of its actual intrinsic value, with properties that are just phenomenal assets. Hard to buy, but a really cheap stock. A Buying opportunity.

Lorne Steinberg Deep Value Global Equities CAUTIOUS Yes View
BUY CSCO-Q Cisco Market Call Tonight (BNN TV) 2014-11-04 $24.880

This is not the 15% earnings grower that it was. It is more of a 6%-8% earnings grower. However, they have $30 billion net of all debt which they are aggressively using to buy back shares and raise their healthy dividend of around 3%. They remain #1 in the world in their major industry sectors, which are growth sectors. He is looking for earnings to grow in a 6%-8% range in the next couple of years. If you want a conservative name, trading at a pretty low multiple, with a pristine balance sheet and growth, this is a good bet.

Lorne Steinberg Deep Value Global Equities CAUTIOUS Yes View
COMMENT DB-N Deutsche Bank AG Market Call Tonight (BNN TV) 2014-11-04 $30.830

Like a lot of European banks, with the new capital requirements they had to do a very significant rights issue and had to raise a lot of capital. That is dilutive to shareholders. However it doesn't look expensive and he continues to look at this. They're going to suffer a little bit with the slowing European economies, but he could be talking about this on one of these shows someday.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
COMMENT DEO-N Diageo PLC Market Call Tonight (BNN TV) 2014-11-04 $115.690

An expensive stock for a company with almost zero earnings growth and flat lining revenues at best. Have phenomenal brands in a very mature industry. They have been a great and smart acquirer of brands, but at 19X earnings with almost no growth, it is hard to find value here. The dividend is secure and there is room for dividend increases.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
BUY GE-N General Electric Market Call Tonight (BNN TV) 2014-11-04 $25.700

A better company today than it was in 2000, with less risk attached to it. Management has done a fantastic job. Dividend is secure. This is one that he looks at, but it never seems to be cheap enough. Not expensive.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
COMMENT GOOG-Q Google Market Call Tonight (BNN TV) 2014-11-04 $554.110

They are doing an amazing job and growing revenues and earnings. They are brilliant individuals. He can’t buy it today because it is too expensive.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
TOP PICK HPQ-N Hewlett-Packard Co Market Call Tonight (BNN TV) 2014-11-04 $35.900

Trading at less than 10X earnings. No net debt if you don't count the financing debt they use to finance equipment. Huge free cash flow generation. Company has returned to earnings growth. Thinks revenue growth will start next year. It will become a growth story again, to some degree, trading at an incredibly cheap valuation, probably $4 a share in the next couple of years. Recently announced they are going to split into 2 pieces, probably in 2015. Thinks this is a $50 stock. Yield of 1.78%.

Lorne Steinberg Deep Value Global Equities CAUTIOUS Yes View
BUY on WEAKNESS INTC-Q Intel Market Call Tonight (BNN TV) 2014-11-04 $34.540

Largest chip manufacturer globally. Has always tended to have cyclical earnings. Earnings have had a very nice run. Wouldn't want to be buying it here because if you look at the last 20 years, earnings can move up and down very significantly. You need to buy this when the gross margins are dropping a bit and earnings are down sharply. This will happen as it does in every cycle.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
PAST TOP PICK KB-N KB Financial Group Market Call Tonight (BNN TV) 2014-11-04 $38.120

(A Top Pick Oct 7/13. Up 7.87%.) A South Korean bank that is dependent on the South Korean economy. Unlike most emerging market economies, the South Korean is showing some very positive signs. Stock is trading at a very cheap multiple with forecasted double-digit earnings growth over the next 2-3 years.

Lorne Steinberg Deep Value Global Equities CAUTIOUS Unknown View
COMMENT LIF-T Labrador Iron Ore Royalty Market Call Tonight (BNN TV) 2014-11-04 $18.970

Iron ore has been wallowing in 5 year lows. Iron is used for steel and, like almost every other commodity; China is the largest buyer of steel. When the Chinese economy is not doing as well as it was, steel prices dropped but iron ore prices dropped even more. Coal sector is suffering badly. There is a good chance that China's economy slows down even more.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
HOLD MFC-T Manulife Financial Market Call Tonight (BNN TV) 2014-11-04 $21.220

This is now in a very good space. Trading for 13 or 14 times earnings, but earnings are really poised to jump here. He is looking at earnings going from about $1.55 a share this year to the $2 level in 2 years from now. Also, looking for more dividend increases.

Lorne Steinberg Deep Value Global Equities CAUTIOUS Yes View
DON'T BUY MFI-T Maple Leaf Foods Market Call Tonight (BNN TV) 2014-11-04 $19.350

Sold its most profitable division, Canada Bread, earlier this year. They have their meat division which has always been marginally profitable at best. Sitting with a pristine balance sheet and $500 billion in cash. The issue with him is what are they going to do with that cash. The company has not been a great acquirer of businesses in the past. To him there doesn't seem to be tremendous value here.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
COMMENT NA-T National Bank of Canada Market Call Tonight (BNN TV) 2014-11-04 $52.800

Hosted their annual meeting in Calgary which is significant. Trying to get away from their Québec roots and grow out into the rest of Canada. They have chosen a couple of specialty areas to do that in, including handling back-office transactions for investment firms and the like, and are also the largest custodian for certain types of investment firms in Canada. Thinks they are pretty well positioned. However, they don't have the scope and scale of the rest of the banking sector, which would be somewhat of a risk because they are Québec-based and are dependent on the Québec economy. A well-run institution. Meets all of his criteria if the stock gets cheap enough.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
TOP PICK RDS.A-N Royal Dutch Shell PLC (A) Market Call Tonight (BNN TV) 2014-11-04 $68.790

A big, global, energy company with good natural gas exposure. Natural gas prices are terrible in Canada but are much better in Europe, and it is a much more profitable business. A vertically integrated company so they are in the refining business as well, which has been a good place to be. Huge cash flow generation. A company this strong can take advantage of a very weak sector, because they will be a net acquirer of very cheap assets that other companies not financially sound will be forced to sell. 5.3% dividend yield.

Lorne Steinberg Deep Value Global Equities CAUTIOUS Yes View
DON'T BUY SNC-T SNC-Lavalin Group Inc. Market Call Tonight (BNN TV) 2014-11-04 $45.460

This has had unique problems, including corruption and related lawsuits. There has been a lot of management turmoil that is possibly not over yet. Have huge contracts in a lot of places where some strange types of business dealings go on and are being more closely monitored. Corporate governance has not been great. There are better places to put your money.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
DON'T BUY SYN-T Synenco Energy Inc. Market Call Tonight (BNN TV) 2014-11-04 $10.230

The whole Pharma sector, which was such a hot sector in the 90s, has been suffering for the last 15 years, and this one is no different. Having trouble coming up with new drugs. A very well-run company. He can see a lot of earnings growth in the next couple of years. Not cheap.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
COMMENT TCK.B-T Teck Resources Ltd. (B) Market Call Tonight (BNN TV) 2014-11-04 $17.090

This is a dual class share company and he doesn't like that kind of situation to invest in. The commodity boom which ran from the late 90s to the financial crisis is suffering today. Doesn't know if this is just a temporary downturn or could it continue for a while.

Lorne Steinberg Deep Value Global Equities CAUTIOUS No View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-07-15 $0.020

Investing. He tends to do his investing bottom-up. Rates continue to drive a lot of the valuations in utilities and energy infrastructure, so he continues to pay attention to the high-level macro. ECB continues to be monetary easing, and the Fed policy continues to be accommodating. This is all positive from an equity valuation perspective.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-07-15 $0.020

Industrials. These tend to correlate very well with economic and GDP growth. There are early-cycle, mid-cycle and late-cycle industrials, and he feels the early cycle trades have been and gone. Focusing on mid and late cycle non-residential and CapX cycles where there is still tailwind and a positive growth outlook.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-07-15 $0.020

Utilities. Have had a pretty good start into the 1st half which has really been a function of declining bond yields. Feels this caught investors by surprise. Rates will likely back up into the 2nd half, but at a slow and moderate pace. From that perspective, he feels there is going to be a bit of headwind for utilities, so he is fairly cautious in this area.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-07-15 $0.020

Energy Infrastructure. Stretched valuations, but in the midst of a multiyear expansion. Fairly valued, but you know that there is more CapX coming down the line. There’s so much opportunity to deploy capital in this space, that ultimately these businesses are going to be worth more 2 to 5 years out.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC _N/A View
BUY ALA-T Altagas Ltd Market Call (BNN TV) 2014-07-15 $48.010

Great company. 3 different segments of power, gas and utilities. The utility segment is pretty stable, and generates a nice cash flow. The power segment is where he thinks they’ll have a good project in their Forrest Kerr Hydro that just came online, which would generate a lot of free cash flow. This is also the best way to play the LNG export market.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
BUY AQN-T Algonquin Power & Utilities Corp Market Call (BNN TV) 2014-07-15 $8.030

Rising interest rates would be a negative headwind, but it will be for any utility and any equity stock from a valuation perspective. In a rising interest rate environment you want to look for businesses where they can grow their free cash flow and dividend in a measured pace that offsets the rising interest rate impact on valuation. He thinks this is one of those names. Have a unique 2 prong strategy where half the business is a fully regulated utility, and the other half is a contracted independent power generation business. Management has done a good job. They have indicated there is potential of up to $2 billion of incremental projects they can take on. If so, you are looking at a stock that is probably worth $12-$13 out in 2017. If you can get this between $8-$9, you will get a 12%-15% total return over 2 years. Yield of 4.2%, which he expects will be increased every year.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
BUY on WEAKNESS BEP.UN-T Brookfield Renewable Energy Market Call (BNN TV) 2014-07-15 $31.110

Unique in the sense that they are a true global renewal business within Canada. One of the best run management teams with some of the best assets in the renewal space, mostly hydro. A slower yield growth name, but is stable. If you think rates are going to rise, which he thinks they will, there could be a moderate pullback.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
TOP PICK CMCSA-Q Comcast Corp Market Call (BNN TV) 2014-07-15 $54.890

The issue people have worried about is over the top and core cutting, and what that means for the traditional cable business. They have shown that to have the pipeline infrastructure, the last mile connection to the house, is still very critical. Signed a deal with Netflix to substantiate that. Largest US cable/broadcast operator. Thinks the Time Warner acquisition is done. Yield of 1.65%. A $70 stock in 2017.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
TOP PICK DHR-N Danaher Corp. Market Call (BNN TV) 2014-07-15 $78.240

A multi-industrial. Unique in that they have the industrial exposure as well as a healthcare technology segment. Both segments have very good growth prospects. One of the best management teams he has ever met. CEO is retiring, but COO is stepping in, so it will be a smooth transition. Historically, the company has given 11%-12% EPS growth, 15% free cash flow growth and 15% dividend growth. Not expensive. They can do an M&A up to about $12 billion. Accruing so much cash on the balance sheet that you are either going to get a special dividend or they will go out and do a large-scale M&A. Yield of 0.51%. Feels the stock could be worth north of $85.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
COMMENT EMA-T Emera Inc Market Call (BNN TV) 2014-07-15 $34.350

Sold his holdings late last year. Operationally this is a great business. Good management team. Going through a $4.5 billion CapX program in the Maritimes. There is value here for a business that is trading 17X, and where he thinks earnings will grow in the mid to high single-digit. It seems a little rich to him. He would be looking to buy this in the low $30s if you could get it.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC No View
COMMENT FTS-T Fortis Inc. Market Call (BNN TV) 2014-07-15 $32.760

A Western based regulated utility, and the largest in Canada. Thinks the valuation of 16X is a little high. If we are going into a rising interest rate environment, a fully regulated utility will likely have more capital pressure on its stock price than more of a merchant power business.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC No View
COMMENT GE-N General Electric Market Call (BNN TV) 2014-07-15 $26.610

The ultimate diversified conglomerate. A nice stable business that is going to give you low, single-digit total returns from an earnings growth perspective. The multiple of 15X is not rich. Always trades at a discount just because it is a large conglomerate. Recently got permission from the French government to bid for their power and grid business. This will be done in 3 joint ventures, so it will be less of a capital outlay and de-risks the initial investment. Dividend is going to continue to grow at mid-single digit levels.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
BUY GEI-T Gibson Energy Market Call (BNN TV) 2014-07-15 $33.080

Has done phenomenally well since the IPO in 2011. A little more diversified than some of their peers in that they have terminal businesses, trucking, storage and the Omni Services in the US. Have probably 2 of the most strategic hubs in Edmonton, and a lot of the volumes of crude oil, commodities and NGL’s will go through these 2 hubs. Trades at a pretty good discount to its peers.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
PARTIAL BUY IPL-T Inter Pipeline Market Call (BNN TV) 2014-07-15 $32.810

An Alberta energy infrastructure operator and a great business. Really a play in the northern Athabascan and Cold Lake regions. Have 3 pipelines. Funded 2 of the pipelines with 2 anchor tenants. The thesis is that they are going to add on incremental shippers with very high, accretive returns. Dividend is sustainable, and will probably grow north of 5%-7% over the next 2-3 years. There continues to be significant CapX put into the space. The only risk would be that they are predominantly in the Alberta pipeline system, and will need to have market access. They can get their pipelines to key Edmonton terminals, and will need to have long haul pipelines out of Edmonton. With a two-year time horizon, you can chip away here. South of $29 would be a good access price, and would give you a 10%-15% margin of error of safety.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
BUY on WEAKNESS KEY-T Keyera Corp Market Call (BNN TV) 2014-07-15 $78.610

This is been a great name. It always looks expensive until they come out and announce the next CapX project, and then it looks cheap. He would buy this at under $75, and if you own continue to Hold. They are going through $1.5 billion CapX, but they could do $2.5 billion. If so, they are worth around $80-$85.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
BUY KMI-N Kinder Morgan Inc. Market Call (BNN TV) 2014-07-15 $36.170

A large energy infrastructure company in the US. Manager doesn’t take any salary. All of his income is from distributions. The knock on this is “Is it too big, and can it grow.” Competent management. Feels the business is well worth more than it is today.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
COMMENT NPI-T Northland Power Inc Market Call (BNN TV) 2014-07-15 $17.690

Dividend is stable with a payout ratio of 100%. They are going through a CapX program right now with the Gemini project, an offshore European wind project. Comes online in 2017-2018, and when that happens the dividend payout ratio will immediately drop to 80%-85%. Management has a tendency to go through CapX cycles pretty extensively, so there is a potential that Gemini could come online, the payout ratio dips into the 80%s, and then they undertake another CapX program, which would keep the payout ratio high. They are always investing in high return/high growth businesses. 5.5% yield.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Unknown View
TOP PICK PWR-N Quanta Services Market Call (BNN TV) 2014-07-15 $34.880

A service provider that services 2 sectors, transmission/distribution and pipeline. Both segments have significant growth behind them. A cheaper way to play some of the pipeline companies in the US. Top-notch management team with a great track record of organic growth of 10% EPS. If they can do M&A, that would probably add another 2%-3% to that, so you are looking at a business that can give you 10%-15% return. With a flat multiple, this is worth north of $50.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
COMMENT SNC-T SNC-Lavalin Group Inc. Market Call (BNN TV) 2014-07-15 $56.130

New CEO has done a good job in cleaning house and bringing in new top level management and re-establishing trust. Management would like to re-shift the business from minority interest and infrastructure assets, to a pure E&C (energy and construction) business, and grow the oil/gas segment. If you back out the concession assets, the core E&C business trades at stub value of around 5.5X. It is going to take some time for this strategy to turn things around. He would prefer WSP Global (WSP-T) or Stantec (STN-T).

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC No View
BUY on WEAKNESS TRP-T Trans Canada Corp Market Call (BNN TV) 2014-07-15 $53.400

He would buy this under $48 and sell at about $57. Has been the unfortunate victim of a political hot potato, but you have to look out to 2017-2018, if 1) the Eastern asset comes on-line and 2) they can build out their West Coast LNG. Has exposure in Mexico to the infrastructure space. Have very large projects that are long dated.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC Yes View
BUY UTX-N United Technologies Market Call (BNN TV) 2014-07-15 $114.840

Good company and interesting at this level. Probably not a bad entry point. A multi-industrial with exposure to aerospace and non-residential construction. Great management team. Exceptional track record of M&A growth. Some people have been concerned about the elevator market in China. This company will continue to take share in the aftermarket service business of elevators.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC No View
COMMENT VSN-T Veresen Inc Market Call (BNN TV) 2014-07-15 $19.000

Stock had a nice run, and was really a function of them de-risking their Jordan Coal project, a West Coast-based LNG export project. They need to secure the financing and an off taker for their LNG facility. Thinks this is worth $21. Still have the risk of the alliance pipeline that needs to be re-contracted. He doesn’t want to take on their risks. Dividend is safe for now, but it depends on how they re-contract.

Gajan Kulasingam Energy Infrastructure, Industrials & Utilities OPTIMISTIC No View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-06-25 $0.020

Energy Stocks. The timing of the relatively sudden drop in the Cdn$ versus the US$ tipped the money flows back into our Canadian energy market quite sharply. There was already a lot of good news building up. Some formations where we had been particularly efficient in using new technologies on, such as the cardium, Viking and now the Montney and the rates of returns attracted international attention. We’re going through a very large re-evaluation phase with the markets right now. We have lifting prices for natural gas which is quite nice. A lot of liquid rich natural gas plays have given some incredible rates of returns. Also, there are these manufacturing types of procedures that are taking place on unconventional formations. Some huge improvements on internal rates of return by lowering costs. Investors should focus on the right formations such as what is the rate of return for a typical well drilled into that formation with the average types of costs, such as the Bakken, Shaunavon, Cardium, Viking, and Montney.

Martin Davies Canadian Energy/Service BULLISH _N/A View
HOLD BXE-T Bellatrix Exploration Ltd. Market Call (BNN TV) 2014-06-25 $9.010

Very interesting company, because the methods, strategy, corporate involvement of how they have grown, hasn’t changed. Still have a long runway of very solid projects in front of them. In the short-term, they got boxed in with a deal that didn’t work which gave pause to investors. Trading at a discount to a similar growth peers.

Martin Davies Canadian Energy/Service BULLISH Unknown View
TOP PICK CNQ-T Canadian Natural Rsrcs Market Call (BNN TV) 2014-06-25 $48.250

On their investor day, it was driven home that the company is now in a position where they are going to be generating a tremendous amount of free cash flow, because the assets that they have are very long life, low decline, and have a wide variety of assets. Also, has been a very sharp increase in dividend payments they have been making. Yield of 1.88%. Large royalty portfolio could be valued at PrairieSky levels.

Martin Davies Canadian Energy/Service BULLISH Yes View
COMMENT COS-T Canadian Oil Sands Market Call (BNN TV) 2014-06-25 $23.650

A distribution type of company. Built to produce a sustainably long term dividend. However, it’s only source of cash flow is by owning a percentage of the Syncrude operation in Fort McMurray. Unfortunately that is the first oil sands mining operation, and has a lot of very expensive legacy assets. You have to watch very carefully the kind of costs they incur to produce a barrel of oil compared to other oil sands mining next door. Costs are going up on their production, which makes the dividend, long-term, more worrying.

Martin Davies Canadian Energy/Service BULLISH Unknown View
PAST TOP PICK LRE-T Long Run Exploration Market Call (BNN TV) 2014-06-25 $5.640

(A Top Pick August 9/13. Up 25.9%.) Have converted over to a dividend paying model, and it takes a period of time for the market to understand the sustainability and risks involved. Recently bought some assets that allow them to have a 3rd area in their suite. Still trades at a discount to its peers.

Martin Davies Canadian Energy/Service BULLISH Yes View
N/A A Commentary A Comment -- General Comments From an Expert Berman's Call 2014-03-10 $0.020

Base Metals. A lot of eyes are on China right now, “are they growing”, “are they not going to be able to reach their targets”, so there were some sloppy trade numbers over the weekend. Imports for iron ore for China have been falling for the last couple of years. If you overlay that and the price of copper with the Chinese domestic market indexes, from 2010, all the indexes have rolled over. Copper has been in jeopardy of breaching the $3 support area for about 3 years now. If it does, that could accelerate some negativeness in the materials sector of base metal stocks. He thinks it is going to happen this time around.

Larry Berman CFA, CMT, CTA ETF's & LARGE CAP BEARISH on BASE METALS _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Berman's Call 2014-03-10 $0.020

Markets. Looking at the NASDAQ as it relates to the McClellan Oscillator of the NASDAQ, when we get a spike in the Oscillator to a high point and it starts to roll over, the markets may be making slight highs, but the number of stocks participating in the rally is starting to fade. That usually means we are going to go into a consolidation or have some kind of a correction. NASDAQ has been the leader for about 6 months now and it’s rolling over, so we have to watch. We used to watch Apple (AAPL-Q) but now we watch Google (GOOG-Q) and it hasn’t made a new high in March and is starting to roll over. If that plays out, then we are in for 3%, 4% or 5% correction in the next little while. He was a buyer in late January, early February for his clients when we had the last 5%-6% dip and he thinks another one is coming. This last week was the five-year anniversary from the bottom. We’ve had 29 months now of a rally in the S&P 500 without a 10% correction. That is the 2nd longest in the history of the markets so we are due for a 10%-20% so we have to watch things carefully as these divergences play out.

Larry Berman CFA, CMT, CTA ETF's & LARGE CAP BEARISH on BASE METALS _N/A View
COMMENT CCO-T Cameco Corporation Berman's Call 2014-03-10 $27.260

He is widely bullish for the next decade or 2 on uranium. Simply put, it is the single most efficient source of high-powered global energy and we need it. Reactors are coming on stream. You have Russia decommissioning of the nukes ending, supplies/demand balance is starting to improve. Likes the sector. It is going to be volatile. Japan is starting to turn on their reactors again.

Larry Berman CFA, CMT, CTA ETF's & LARGE CAP BEARISH on BASE METALS Unknown View
DON'T BUY EWP-N iShares MSCI Spain ETF Berman's Call 2014-03-10 $40.570

Tradable but we haven’t made a long-term investment bottom because there are problems coming. It could take up to 3 years and could be an interesting place to invest. Europe is coming back, but it is not fixed by any stretch of the imagination. He feels that within the scope of the next 5 years, Spain breaks off from the euro. 28% unemployment, almost 60% unemployment for youth under 25. You can’t fix that and have them stay in the euro to his way of thinking.

Larry Berman CFA, CMT, CTA ETF's & LARGE CAP BEARISH on BASE METALS Unknown View
WATCH KMP-N Kinder Morgan Energy Berman's Call 2014-03-10 $74.900

Building out the infrastructure, pipelines and all those things, is a wonderful place to invest. Not early on this one. We are starting to see quite a decay. Five-year chart shows the last year has been weak. The best case scenario is that we find some support in the mid to low $70’s and we go sideways from there for a number of years. He would have on his radar for something you want to build a position in.

Larry Berman CFA, CMT, CTA ETF's & LARGE CAP BEARISH on BASE METALS No View
WATCH LEG-T Legacy Oil and Gas Inc. Berman's Call 2014-03-10 $6.620

The big picture story for the next 5 years or so, supply is going to dwarf demand in oil and gas in North America. However, when you look at a stock like this that has been beaten up because of some of those reasons of weaker production prices in Canada, and you look at a five-year picture, what you are seeing in this and a lot of these focused here in Canada, you’ve got these big bases coming. In order to get relief there and have some of these start to break out, you need that supply/demand thing to start to turn around. Pipelines east and west, pipelines north and south, LNG distribution should bring better prices to Canada but it is still a few years off. The stocks are starting to respond so this is important to watch.

Larry Berman CFA, CMT, CTA ETF's & LARGE CAP BEARISH on BASE METALS Unknown View
SELL SLW-T Silver Wheaton Berman's Call 2014-03-10 $27.980

Gold and silver had a decent bounce off the lows last year. Doesn’t think that either gold or silver are going to take off in a big way. Maybe there is scope for gold to pop above $1400 if the markets come unglued over the next 6 months. However, he still thinks we are range bound and you want to take a profit and sell into that rally. If we get a pullback in gold in the next month or 2 of $1300 or less, you want to nibble at it.

Larry Berman CFA, CMT, CTA ETF's & LARGE CAP BEARISH on BASE METALS Unknown View
PARTIAL SELL TCK.B-T Teck Resources Ltd. (B) Berman's Call 2014-03-10 $23.800

Copper has a good chance of breaking down through $3 and if it does, all these copper stocks are going to break heavily. You should watch the Copper ETF (COPX-N) which has a lot of copper names and if it starts to break be wary. This is a fine company, and what they do, they do very well. They are in a sector right now that he is not remotely interested in and may not be for years. Doesn’t feel demand in China is going to be there for a number of years. He is biased against having a full position in this company at this time.

Larry Berman CFA, CMT, CTA ETF's & LARGE CAP BEARISH on BASE METALS No View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2013-12-16 $0.020

Markets. Tends to look for names that are undervalued, under researched and typically under owned by institutional investors. Focuses on bottom-up investing.

Jerome Hass CANADIAN MID-LARGE & SHORT-LONG STRATEGIES UNKNOWN _N/A View
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