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

Viewing Expert

Jerome Hass , Portfolio Manager

Lightwater Partners

Address
120 Adelaide Street West, Suite 2400
Toronto, On
M5H 1T1

Contact Info
Telephone: +1 (416) 504-9767
Email:
Website: http://www.lightwaterpartners.com/home.html

Bio:

Lightwater Partners is a Toronto-based  alternative asset manager.  Lightwater  focuses on mid-cap Canadian stocks and long / short strategies.  It manages two funds, the Lightwater Long Short Fund and the Nimble Fund.  These two funds returned 46% and 53% respectively in 2013 (returns net of all fees and expenses).  Lightwater was established in 2007 and it was one of the small number of Canadian managers who earned a positive return in 2008.


Date Signal Chart Symbol Company Opinion Price
2017-07-13 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  He has a long short strategy to help him sleep better at night.  He is agnostic to what the market is doing.  Long has market risk, industry risk and industry specific risk.  He isolates the company specific risk with pair trades.  He pair trades within an industry space.  A Mid cap is $200 Million to $2.5 Billion.  There are about 450 mid-caps and 200 if you take out resources. 


Price:
$0.020
Subject:
CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
_N/A
2017-07-13 PAST TOP PICK Must be logged in to use chart AGF.B-T AGF Management (B)

* Short*. (Top Pick Jun 10’16, Down 47.16%) There has been more enthusiasm for the asset managers.  He thinks the industry as a whole is still going to suffer from the continuing trend.


Price:
$7.000
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Yes
2017-07-13 COMMENT Must be logged in to use chart BIOA-N BioAmber Inc

A Painful Position.  Their products are more of an intermediate product.  He has really liked the story.  It has not been great execution.  The plant in Sarnia needs to run at a higher capacity. People need to see that they can sell the products they produce.  It is a very much wait and see story.  He is not adding more to it until they have proven that they can deliver.  They have been talking about a joint venture in China and the Q2 results in August could be another catalyst.


Price:
$2.650
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Yes
2017-07-13 DON'T BUY Must be logged in to use chart BUS-X Grande West Transportation Group

Pretty cynical about this stock. It is a Canadian designed mini bus for public transportation.  But it was manufactured in China. If he had a choice between buying and selling he would sell.


Price:
$2.840
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Unknown
2017-07-13 PAST TOP PICK Must be logged in to use chart CBL-T Callidus Capital Corp

(Top Pick Jun 10’16, Up 3.42%)  Last year they announced a 4 stage plan.  At the end of October they announced a privatization plan, but it has been delayed.  They are considering a private debt fund.  Hold it if you understand the math.


Price:
$14.460
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Yes
2017-07-13 TOP PICK Must be logged in to use chart CGX-T Cineplex Inc

* Short * Pairs Trade: *Long* CNK-N/ *Short* CGX-T. Canadian long only managers always buy CGX-T as a recession proof business. It is a good company, but very expensive. It is twice the valuation of CNK-N.(Analysts’ target: $58.50).  CNK-N is more focused on the cinema business. It has 3 times more screens. It is a bigger, more liquid name and has a better dividend yield. (Analysts’ target: $44.00). 


Price:
$52.330
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Yes
2017-07-13 BUY Must be logged in to use chart CJT-T Cargojet Inc

It was a Top Pick recently.  He toured their airport.  Most take offs between 10 and midnight are theirs and he was there to see that.  He was struck by how long their employers have been there.  He likes that and the stability and the business.  They have contracts for Purolator, DHL and Canada Post.  90-95% market share.  They have leased out 90% of their capacity.  There is considerable upside on their share price.


Price:
$47.780
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Unknown
2017-07-13 TOP PICK Must be logged in to use chart CNK-N Cinemark Holdings

* Long * Pairs Trade: *Long* CNK-N /*Short* CGX-T. Canadian long only managers always buy CGX-T as a recession proof business. It is a good company, but very expensive. It is twice the valuation of CNK-N. (Analysts’ target: $58.50).  CNK-N is more focused on the cinema business. It has 3 times more screens. It is a bigger, more liquid name and has a better dividend yield. (Analysts’ target: $44.00). 




Price:
$37.990
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Yes
2017-07-13 HOLD Must be logged in to use chart CRH-T CRH Medical Corp.

An outsourcer in medical clinics where they take a 50% stake in the business. Registered nurses are being paid as full medical doctors. Their profitability could be hit when they are re-rated. The argument goes on.  He thinks the short thesis is a little overplayed. 


Price:
$6.620
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Unknown
2017-07-13 PAST TOP PICK Must be logged in to use chart CWB-T Canadian Western Bank

*Short*.  (Top Pick Jun 10’16, Up 9.11%) This is a paired trade for him.  He has no specific target.


Price:
$27.720
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Yes
2017-07-13 COMMENT Must be logged in to use chart CXI-T Currency Exchange Intl.

Has been involved with it since its IPO. After a four year wait they got their bank license.  Within 6 months they expected to land the 6 big banks.  It has not happened since the bank license came out. The growth has happened in the top line, but not in the bottom line.


Price:
$24.820
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Yes
2017-07-13 SELL Must be logged in to use chart DTEA-Q David`s Tea Inc.

They have been experimenting to find something that will work.  Their model has not been able to prove itself.  There is a lot more downside ahead. 


Price:
$5.500
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Unknown
2017-07-13 COMMENT Must be logged in to use chart ECI-T EnerCare Inc

He has held the name for a very long time. It is a name he really likes and likes the stability of the business. They diversified recently and bought a HVAC business which is much more dependent on the weather.  Due to our mild winter weather last year the stock went down. It has rallied since then and he believes it is still a good long term name. Also, believes that the share price may not reflect the sub-metering business they have.


Price:
$20.110
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Yes
2017-07-13 DON'T BUY Must be logged in to use chart EFL-T Electrovaya Inc.

There was a press release today with regards to a sale or a purchase order.  About a year ago he had this as a short pick and it came down considerably.  They missed the target considerably.  He feels he is missing something on this stock.


Price:
$1.330
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Unknown
2017-07-13 DON'T BUY Must be logged in to use chart EFN-T Element Fleet Management

It has been a difficult one.  It split from its ECN and is now trading as two separate elements.  There was suspicions that a short seller would go after them.  People are concerned about the direction of the company.  It will be reasonably sensitive to US economic conditions. 


Price:
$8.950
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
Bullish on Canadian Equities
Owned:
Unknown
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