Viewing Expert Lyle Stein | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

Lyle Stein , Sr. Portfolio & Managing Director

Vestcap Investment Management


Date Signal Chart Symbol Company Opinion Price
2017-05-09 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. This market doesn’t want to give up. It is an interesting market from a lot of perspectives. He is Long equities, more so than normal, but still has a lot of cash. Doesn’t believe in the bond market. A lot of things have gone right; the volatility index VIX, is at an all-time low and markets are at an all-time high. Interest rates continue to creep up, which is typically is a headwind. Corporate earnings have been good, but are in the areas that nobody is buying. Canada, after having been the best performing market last year, has really lagged, not just in energy and materials, but financials as well. Today he is 80% in equities. Of that 80%, 16%-18% would be in the US.


Price:
$0.020
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
_N/A
2017-05-09 PAST TOP PICK Must be logged in to use chart AEM-T Agnico-Eagle Mines

(A Top Pick July 5/16. Down 12%.) At that time, this was running up and gold looked much better. Believes this is the premier company in Canada. They’ve been very good at bringing up mines. A growth business that happens to be in the gold mining industry.


Price:
$63.480
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
Yes
2017-05-09 COMMENT Must be logged in to use chart ALA-T Altagas Ltd

This has been quite active in acquisitions. They bought Washington Gas & Light company in the DC area, as a big foray into the US. They feel it provides them with some unique diversification, as well as a kind of rollup capacity in the market. It is going to be a “show me” story, and is going to take a long time. In the meantime, they’ve suffered with the oil/gas patch in general. It’s quite exposed to gas in its midstream operations. He believes the 6% dividend is safe. It probably won’t be growing as quickly as it has, because they have to absorb the WGL assets. They successfully raised capital. Thinks they are in OK shape, but doesn’t feel this is the best place to be in that space right now. Prefers others.


Price:
$31.230
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
No
2017-05-09 COMMENT Must be logged in to use chart ARX-T Arc Resources Ltd

Has been dramatically underweight in the energy space. He started the year with a view that oil was going to be $45-$55 for this year. Bargains are starting to appear. In the oil patch, this is one of those names he would be looking at. It’s liquid and it is well run.


Price:
$17.740
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
No
2017-05-09 WAIT Must be logged in to use chart BCE-T BCE Inc.

A core holding for him, but wouldn’t buy it today. Has had a really, really nice move. It’s been a great portfolio investment, but it is now getting a little toppy. The RSI (relative strength indicator) shows a sense of enthusiasm. As it ran up to the mid-$60s, enthusiasm got quite high. He’d like to see that wane before he took another position. Great yield.


Price:
$61.880
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
Yes
2017-05-09 COMMENT Must be logged in to use chart BTE-T Baytex Energy Corp

Sell Baytex (BTE-T) and Crescent Point (CPG-T) and move into Teck Resources (TECK.B-T)? Crescent Point and Baytex had high dividends. When oil fell, the dividend strategy collapsed. From this, he learned don’t rely on commodity stocks to pay dividends. Both are down in the dumps, but both are good names. This one probably has a little more debt than he would like, but Crescent Point is really trying to remake itself. If looking for torque in a portfolio, you will probably get more in the near term, from a base metal stock that you would from an oil stock.


Price:
$4.430
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
Unknown
2017-05-09 COMMENT Must be logged in to use chart CF-T Canaccord Financial Inc

Preferred C. This will reset at the 5 year Canada rate, around 3.75%. Why is it at $18, instead of $25, which would normally be the issuance value? 5-6 years ago, the rage was Reset Preferreds because rates were low and if rates went up, there would be a higher yield when it reset. Instead of going up though, rates fell. Therefore at reset, at 3.75% over our Canada 5 year of about 80 basis points, it is going to be reset with a 4.5% yield. The risk doesn’t necessarily correspond with a 4.5% yield that you would get on other safer preferreds. The market doesn’t like that, so it is not going to pay you for value. As long as interest rates stay low, it is a great thing for the issuer because it is a cheap preferred. Unfortunately, it will trade at around $18 for a while.


Price:
$4.540
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
Unknown
2017-05-09 PAST TOP PICK Must be logged in to use chart CGX-T Cineplex Inc

(A Top Pick July 5/16. Up 5%.) One of those monopolies he believes is a wonderful name to own in the Canadian consumer space. Bought it because they were getting more dollars of revenue for every visit. A great kind of growth name that you don’t have to pay extremely high values for.


Price:
$53.190
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
Yes
2017-05-09 COMMENT Must be logged in to use chart CM-T Canadian Imperial Bank of Commerce

Regarding their US acquisition, they’ve gone at it 3 times saying this is the last offer. The US banks rallied, and the Canadian banks did not. He hopes they don’t jump their offer once again.


Price:
$108.360
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
Yes
2017-05-09 COMMENT Must be logged in to use chart CNR-T Canadian National R.R.

This has been one of the great investments in Canadian history. It is a great name to own. The railroad industry is a monopoly, because we are not going to build new railroads anywhere in North America. The number of investable rails has shrunk. You can pick any one. He finds them a little pricey in the current market. Their multiples are typically less than the markets, and are trading at kind of a market multiple today.


Price:
$101.890
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
No
2017-05-09 COMMENT Must be logged in to use chart CPG-T Crescent Point Energy Corp

Sell Baytex (BTE-T) and Crescent Point (CPG-T) and move into Teck Resources (TECK.B-T)? Crescent Point and Baytex had high dividends. When oil fell, the dividend strategy collapsed. From this, he learned don’t rely on commodity stocks to pay dividends. Both are down in the dumps, but both are good names. Baytex probably has a little more debt than he would like, but this one is really trying to remake itself. If looking for torque in a portfolio, you will probably get more in the near term, from a base metal stock that you would from an oil stock.


Price:
$13.110
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
Unknown
2017-05-09 COMMENT Must be logged in to use chart CVE-T Cenovus Energy

A really good time to be taking a look at this, because it is a great contrarian play. They stretched to make their acquisition and have to make dispositions of assets. Probably took on a little more debt than they probably might otherwise could, and diluted the equity down. That asset sale aspect is troubling at a time when oil prices are $45. Who are you going to sell those assets to.


Price:
$13.050
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
No
2017-05-09 COMMENT Must be logged in to use chart CXR-T Concordia Healthcare

This as not an investable name. They borrowed money to make a UK acquisition and are having issues with that.


Price:
$2.850
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
No
2017-05-09 PAST TOP PICK Must be logged in to use chart EQB-T Equitable Group

(A Top Pick July 5/16. Down 15%.) Believed that the model was very good. He began selling it at $60, and by the time he was done it was trading at a little above $48-$49.


Price:
$48.370
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
No
2017-05-09 COMMENT Must be logged in to use chart FN-T First National Financial

This is a different mortgage player. They basically raise their own money and put that into mortgages. They service mortgages, as opposed to using capital as an intermediary to earn a spread. This has been a well-run company. Their software is 2nd to none. It got caught in the downdraft.


Price:
$25.190
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
Unknown
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