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Gluskin Sheff and Associates Stock Symbol: GS-T

Notes:

Money managers

Last Price Recorded: $16.0900 on 2017-10-23

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Date Signal Expert Opinion Price
2017-07-12 COMMENT Christine Poole

Just reached a settlement. She prefers wealth management through the big banks. If existing shareholders want to sell, it could probably be a candidate for a take out by one of the big banks, however, she has not heard anything about them being for sale.


Price:
$17.950
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
No
2017-05-03 COMMENT Kash Pashootan

Possible takeover by one of the banks? It is tough for a bank to buy this, because the culture is much more entrepreneurial than what the banks have. Also, they focus on the high net worth investor, and the banks average client size would be significantly smaller. This has not gotten back to anywhere near the $30 share price that it had in the 2014 era. Dividend yield of 5.8%.


Price:
$17.110
Subject:
NORTH AMERICAN DIVIDEND & PORTFOLIO CONSTRUCTION
Bias:
UNKNOWN
Owned:
Unknown
2017-02-15 TOP PICK Brian Madden

An asset manager that operates in the high net worth space. The demographics are great. Family assets are growing more quickly than lower net worth households. Also, client relationships tend to be longer-term and stickier, due to the nature of the services offered. The stock is discounted because of long-term litigation with the founders, which is likely to get cleared up later this year. Dividend yield of 5.27%. (Analysts’ price target is $19.67.)


Price:
$18.990
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2016-07-14 BUY Brendan Caldwell

(Market Call Minute) He likes the investment managers.  They are leveraged well to the strong market that he thinks we will have for the next 12 to 18 months.


Price:
$17.100
Subject:
CANADIAN VALUE
Bias:
BULL
Owned:
Unknown
2016-07-06 DON'T BUY Jerome Hass

(Market Call Minute.) Thinks they are going to have a rough patch with CRM2.


Price:
$16.700
Subject:
CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias:
UNKNOWN
Owned:
Unknown
2016-06-17 WATCH Norman Levine

This has been hurt lately for a couple of reasons. In the fund industry it has been hard bringing in new assets. Money has actually been flowing out of equities and equity funds. Secondly, they are having a fight between the company and its founding partners. With that uncertainty hanging over it, you don’t know where this is going to be. Once that is out of the way, the stock should do better. Also, they charge high fees compared to other money managers.


Price:
$16.450
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Unknown
2016-05-04 BUY on WEAKNESS Greg Newman

This is an asset management business that is doing the right things.  The strife will sort itself out.  It may not take off right away, but it will take off.  Write some puts about $16.50.


Price:
$17.330
Subject:
CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias:
OPTIMISTIC
Owned:
Unknown
2016-03-15 HOLD Bruce Campbell (1)

(Market Call Minute.) Investment management, and would be leveraged to higher markets. Thinks markets are higher, but not inordinately so.


Price:
$19.640
Subject:
CANADIAN LARGE
Bias:
OPTIMISTIC
Owned:
Unknown
2016-01-22 COMMENT Michael Simpson, CFA

Has created its great nation of high net worth business in Canada, and are one of the premier names for wealthy individuals. They have a number of different strategies. Traditionally have done very well and have excellent portfolio managers. Some of their funds are performance fees, where depending on how well they do, would generate extra income and a special dividend. This is on his radar screen.


Price:
$17.000
Subject:
NORTH AMERICAN DIVIDENDS
Bias:
OPTIMISTIC
Owned:
No
2015-07-16 COMMENT Michael Decter

Competition for him, but a firm that he has always admired. The question in the market is with the departure of the founders and some of the people that have been there a long time. There is risk in these changes, but it is hard to judge how much. A quality firm, but is in different hands which have created some turbulence. Also, banks are making a more determined effort to gather assets, and some of that is coming at the expense of the non-bank managers.


Price:
$24.170
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
No
2015-06-18 DON'T BUY Stephen Takacsy, B. Eng, MBA

A well management company, they are very profitable.  They have management fees and performance fees.  The stock got tremendously overpriced.  He prefers GCG-T.  GS-T is expensive.


Price:
$26.390
Subject:
CANADIAN
Bias:
DEFENSIVE
Owned:
No
2015-01-26 HOLD Patrick Horan

Would prefer an IGM-T.  It looks okay here and is trading at a trough valuation.


Price:
$26.700
Subject:
NORTH AMERICAN
Bias:
BULLISH
Owned:
Unknown
2015-01-16 COMMENT Ryan Bushell

The asset management industry as a whole is a difficult industry to be invested in. It is sort of a high beta version of the market. When the market is doing well and the asset managers have strategies that are doing well, they can subscribe to pretty nice valuation, but the opposite is true on the downside. It is a little more stable to get that exposure through the banks. All the banks have large wealth management divisions, especially Royal (RY-T) and Toronto Dominion (TD-T). With this kind of company, you are sort of living and dying with the performance of the market and the performance of their managers. This is doing well and will probably continue to do well as long as the cycle goes, but the downside is also great and he tries to limit the downside for his clients.


Price:
$26.980
Subject:
CANADIAN LARGE (DIVIDENDS)
Bias:
OPTIMISTIC
Owned:
No
2015-01-09 BUY Andy Nasr

Has made a lot of money on the stock and really likes it. This is an asset manager that caters to high net worth individuals and institutions. Valuation is very compelling compared to other asset managers. Given the regulatory changes that are happening within the asset management industry, you want to own a business or stock that caters to high net worth clients and less fee sensitive, and this one really does fit the bill. Great entry point. You have the potential of a special dividend at the end of the year, especially if the market cooperates, along with capital appreciation. 3.5% dividend yield.


Price:
$25.420
Subject:
NORTH AMERICAN DIVIDEND & REITs
Bias:
BULLISH
Owned:
Yes
2014-11-03 BUY Norman Levine

Likes the money management business.  They continue to build up the business.  There was a big overhang because it was known that the owners wanted to sell the company, but it didn’t happen. 


Price:
$29.470
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
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