Viewing Expert Stephen Takacsy, B. Eng, MBA | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

Stephen Takacsy, B. Eng, MBA , Chief Investment Officer

Lester Asset Management

Address
1800 McGill College Avenue
Suite 2102
Montreal, Qu
H3A 3J6

Contact Info
Telephone: 514.849.5566
Toll Free: 1-866.849.5566
Fax: 514.849.4016
Website: https://www.lesterasset.com/Home

Bio:

Stephen joined in 2006 to help establish new investment policies at the firm and to manage equity and fixed income portfolios. Prior to this,  he managed the assets of Groupe Laurem, including the cash proceeds resulting from the growth and sale of the control block of one of Canada’s leading entertainment companies where he was Senior Vice President and Chief Financial Officer. Stephen has a diverse career in finance including Investment Banking at Richardson Greenshields and Corporate Banking at Royal Bank of Canada. He has extensive experience at analyzing and assessing the value of companies in many different industries and sizing up management and their business plans, a skill set that enhances our clients' returns. Stephen was Chairman of the Finance Committee of Loyola High School and a long time member of the school’s Board of Governors. He is currently a member of the Board of Governors of The Marianopolis Millennium Foundation and Chairman of its Investment Committee, as well as a director of BeaverTails Canada Inc.


Date Signal Chart Symbol Company Opinion Price
2017-03-22 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. The market has basically gone up on thin air since the US elections. Even if tax cuts and infrastructure go through, they take a long time to filter through to the bottom line. The market may be realizing that those things are more difficult to implement than initially thought, and is getting quite stretched. He doesn’t think any US policies are going to be able to create strong sustainable growth. We still live in a very slow growth world with some deflationary forces, aging population, excess capacity and we are going to remain in the low interest rate environment. The market has gotten way ahead of itself relative to the growth rate. He is sitting on about 16% cash in his portfolios, way larger than what he has ever had, and waiting for whatever triggers a pullback such as European elections. The best way to make money is to be patient and buy when things are cheap.


Price:
$0.020
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
_N/A
2017-03-22 PAST TOP PICK Must be logged in to use chart ADW.A-T Andrew Peller

(A Top Pick March 22/16. Up 18%.) One of his biggest positions for many, many years. Extremely well-managed. They’ve grown the business, mainly organically through new products and reducing costs. Also, benefiting from the reform in Ontario, which allows food retailers to sell wine. There are about 75 new outlets now that have to give shelf space to Ontario wine companies. Still a Buy. Under $11 is a good price.


Price:
$10.690
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2017-03-22 BUY Must be logged in to use chart AFN-T Ag Growth International Inc

A great company. One of the few ways of playing the agricultural sector in a sort of safer non-commoditized way. They make grain and fertilizer handling and storage equipment. Growing internationally. Very well-managed. The stock is down because they did a fairly large equity financing at around $54-$55 in the last few months. However, results have been very, very good. It gives you international exposure to needy infrastructure space overseas. A good entry point.


Price:
$50.820
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2017-03-22 DON'T BUY Must be logged in to use chart BBD.B-T Bombardier Inc (B)

He doesn’t follow this closely. A tough, high-stakes business that gobs up enormous amounts of capital. Good luck on been able to get a decent return on capital. They have a lot of challenges. Up against some big competitors. They still have to get their house in order financially. There is no real free cash flow being generated to speak of. Not a good business to invest in.


Price:
$2.020
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-03-22 BUY Must be logged in to use chart BCE-T BCE Inc.

He is buying at these levels for new clients. A rock solid, extremely well-managed company. The stock is up on days the market is down. It has that negative correlation, acting somewhat bond-like. They have growing businesses, the whole wireless side. This is one you want to own for a long time.


Price:
$58.750
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2017-03-22 WAIT Must be logged in to use chart BRB-T Brick Brewing Company Ltd.

Very impressed with management. They’ve done a really, really good job in turning the company around. It’s a very competitive business, beer mainly, but now they have some spirits they are manufacturing, with the rights to sell, market and distribute. The stock is rather expensive, but they’ve been delivering good quarterly sales growth/earnings growth. Wait until the earnings catch-up with the stock price.


Price:
$2.910
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-03-22 COMMENT Must be logged in to use chart CCL.B-T CCL Industries (B)

Had owned this from $36 to over $200, but sold it recently and bought Winpak (WPK-T) which he likes better. It has more organic growth and trades at a lower multiple. CCL has done a great job integrating acquisitions. A very well-managed company, but finds it very expensive right now.


Price:
$289.760
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-03-22 TOP PICK Must be logged in to use chart CJR.B-T Corus Entertainment (B)

This is one that you buy, hold and don’t let it go. In the large cap space, it is probably the best value out there. Still misunderstood. The largest TV broadcaster in Canada. Everybody is worried about cord cutting and cord shaving, but they bought Shaw Media about a year ago, and now the cost synergies and revenues are kicking in. Over the next 12 months, he expects the company to return to growth. Subscriber growth has already started to go back up thanks to Disney and some of the other specialty channels. They just renegotiated their ad agency contracts, presumably at higher rates. Dividend yield of 9%. (Analysts’ price target is $13.)


Price:
$12.490
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2017-03-22 BUY on WEAKNESS Must be logged in to use chart CJT-T Cargojet Inc

This stock has gone up a lot in a short period of time. The company has done a great job revamping its fleet to meet the huge Canada Post contract. Feels it is fully valued now, and would buy it on weakness. Basically has 90% of the overnight air cargo market in Canada.


Price:
$46.110
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-03-22 COMMENT Must be logged in to use chart CLR-T Clearwater Seafoods Inc.

Has very valuable harvesting seafood licenses, and very dependent on the US$. When the dollar is strong, they do well. Very capital intensive, as ships are expensive to buy and maintain. You really have to look at the free cash flow generation over a long period of time. The stock has been treading water for the last few years. Not something he would put in his portfolio.


Price:
$10.510
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-03-22 BUY Must be logged in to use chart DBO-T D-Box Technologies

A very good buying opportunity. He’s been buying at around $0.40. A bit of a lumpy business, depending on where the backlog stands. The backlog has been down a little in the last few quarters, because they haven’t announced too many seat deployments. They are working on multiple fronts such as virtual reality, home theatre, but the big upside is going to be increasing penetration in movie theatres with their motion systems. Because there is a big CapX program going on in North America, to replace the seats with recliners, they have developed a reclining seat with a motion system in it. Also, thinks China is going to blast off for them as some point. These things take time so you have to be patient.


Price:
$0.410
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2017-03-22 COMMENT Must be logged in to use chart GUD-T Knight Therapeutics

Phenomenal management. You have to look at this as a big mutual fund of investments in healthcare and biotech. They are sitting on a ton of cash, and probably just waiting in the weeds for some fallout from some of the other companies in order to make a big move. This is for extremely patient investors. As a long-term investment for your kids and grandchildren, you can’t go wrong.


Price:
$9.930
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Unknown
2017-03-22 BUY on WEAKNESS Must be logged in to use chart HLF-T High Liner Foods

A well-managed company. It is unique, but over the last few years seafood sales in the US have struggled. It seems that when the US$ goes up, the price of seafood goes up also. Consumption per capita doesn’t seem to be going up in the US on seafood, even though it is healthier. Thinks it is going to tread water for a while. Not expensive, but quite volatile. You may want to buy when it has a bad quarter.


Price:
$17.840
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-03-22 BUY Must be logged in to use chart INP-X Input Capital Corp

A unique business model, and it has only been around for a few years. They give money to farmers in exchange for a revenue stream on canola production. What drives the stock higher is their deployment, i.e., how many farmers can they sign deals with over the next few years. This is usually seasonally. Expects there will be news over the next few months, in terms of how much capital they are going to be able to deploy this year. These are early days, and they are just scratching the surface. There are a lot of canola farmers in Western Canada.


Price:
$1.750
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2017-03-22 HOLD Must be logged in to use chart ITP-T Intertape Polymer Group

Packaging, but in products that are a lot more commoditized than some of the others. Management has done a great job turning the company around. Up against some 800 pound gorillas such as 3M. They are looking for “value added” products to launch in small acquisitions. They are modernizing and expanding some of the plants. Not a cheap stock, but thinks management is going to succeed.


Price:
$21.630
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
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