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

Viewing Expert

Brian Madden , Senior VP & Portfolio Manager

Goodreid Investment Council


Date Signal Chart Symbol Company Opinion Price
2017-02-15 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. Earnings have been batting 1000 in the energy sector, but he wants to see this reflected in the stock prices. Six of the energy companies have reported so far. Two are beating expectations for every one that is falling short, but they are all coming in better than expected, however the sector has fallen out of favour. That reflects investors increasing concerns about a warm winter, continental energy flows and a generally oversupplied natural gas market. To top it all off, there are concerns about possible border taxes.


Price:
$0.020
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
_N/A
2017-02-15 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

TFSA or RRSP? Given the tax treatment, he would put more conservative holdings in the RRSP and the more aggressive names in the TFSA.


Price:
$0.020
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
_N/A
2017-02-15 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

REITs? The long running rally in the bond market of 5+ years came to an end late last summer. With that, he expects to see the demise of all the bond proxy trades that are in the equity market, such as REITs, pipelines, utilities, telecoms and all the plays in the market where people were clamouring for yield because there was no alternative.


Price:
$0.020
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Unknown
2017-02-15 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Base metals? Most of the industrial metals are very strong, which is not surprising given his thoughts on the global economy coming out of the slump in 2016. We are seeing better industrial demand in China and some of the Purchasing Manager Indices ticking up consistently over the last 3-6 months. Also, there is high hope for big infrastructure build in the US. In addition, there has been some supply outages in copper in some of the largest mines in the world.


Price:
$0.020
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Unknown
2017-02-15 COMMENT Must be logged in to use chart ALA-T Altagas Ltd

Sold his holdings in late summer of 2016, to make room for more procyclical exposure in the portfolio. There has been a notable corporate development in the last couple of months. They are in the throes of their largest acquisition in the history of the company with WGL Holdings, a very large cross-border transaction. It should be 8%-10% accretive to both earnings and their fund flow from operations. Management feels it will support dividend increases in an 8%-10% annualized pace over the next 3-4 years, without impairing credit. The stock is quite expensive, and he views it as a bond proxy, which he tries to avoid. 6.7% dividend yield.


Price:
$31.280
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-02-15 PAST TOP PICK Must be logged in to use chart ATD.B-T Alimentation Couche-Tard (B)

(A Top Pick Aug 29/16. Down 7.79%.) Acquired CST Brands which should be quite accretive to earnings. However, the resource sector has got its feet back under it and has been funded from some of the safer secular growth stories like this. It is starting to perk up lately on the charts. A tremendous, long-term performer, growing earnings at a 20%+ compound rate over 2 decades. Great management team. They are quite likely to get the final regulatory clearance to go ahead on the CST Brands position.


Price:
$62.200
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2017-02-15 COMMENT Must be logged in to use chart AVO-T Avigilon Corp

A provider of intelligence security systems, cameras and related software. It was once a market darling, but has stumbled badly. There has been a bit of a revolving door in the executive offices. Financial governances are not terrific. Credibility of management is a bit suspect, with a history of overpromising and under delivering. Analysts have a tough time with revenue visibility because the product is sold through a network of resellers.


Price:
$15.290
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-02-15 COMMENT Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

Canada’s largest alternative asset manager. Operates in private equity, real estate, infrastructure and renewable energy, and has a large growing fee for services. They are basically in things that are not publicly traded, and are the best in the business at exploiting those inefficiencies.


Price:
$48.690
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2017-02-15 COMMENT Must be logged in to use chart BBD.B-T Bombardier Inc (B)

This company is cyclical and is highly leveraged. They’ve had delays on the C series program. He doesn’t view this as an investment grade security. They have leverage which is 10X debt to EBITDA, and there is just not enough margin of safety to take a position.


Price:
$2.580
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-02-15 PAST TOP PICK Must be logged in to use chart CCL.B-T CCL Industries (B)

(A Top Pick Aug 29/16. Up 12.19%.) A tremendous Canadian growth story in the last number of years. They are in containers, polymers. Recently announced an acquisition of Innovia which is likely to be 14% or 15% accretive to earnings. Innnovia is the undisputed market leader in polymer banknotes. Polymer banknotes are still in their infancy, so while Innovia has a 95% share of the market, polymer banknotes only have a 3% penetration amongst all banknotes worldwide. Lots of runway.


Price:
$268.510
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2017-02-15 COMMENT Must be logged in to use chart CCO-T Cameco Corporation

The world’s largest publicly traded uranium producer. The stock has been in a slump since the Fukushima disaster in 2011. Things started to change in advance of changes of the uranium market fundamentals last summer. Kazatomprom, Kazakhstan’s state owned mine, which owns 30% of the uranium market, decided to cut production by 10%, which will meaningfully tighten things. The price has responded. Cameco has a dispute with Canada Revenue on back taxes and transfer pricing, which is not going to go away in the next 12-18 months. They also have a dispute with the Tokyo Electric Power Company.


Price:
$15.510
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Unknown
2017-02-15 COMMENT Must be logged in to use chart CVE-T Cenovus Energy

Oil is recovering, although in fits and starts. This is a well-run integrated oil producer. He would favour Suncor (SU-T) given the longer reserve life and the better assets as well as the downstream operations. However, he wouldn’t have tremendous concerns with this company.


Price:
$17.970
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-02-15 DON'T BUY Must be logged in to use chart EMP.A-T Empire Company (A)

Groceries is a difficult business. They spectacularly botched the acquisition of Safeway Canada in 2013, paying $5.5-$6 billion. Since announcing the acquisition, EPS has dropped from about $1.75 to about $.65-$.70. The debt has been downgraded, and the stock has fallen off a cliff. Just brought in a new CEO. His concern is that the new CEO is unproven in grocery retailing. The company has a lot to wrap its arms around in terms of untangling the mess.


Price:
$16.910
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-02-15 TOP PICK Must be logged in to use chart GS-T Gluskin Sheff and Associates

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
2017-02-15 COMMENT Must be logged in to use chart LNR-T Linamar Corp

A leading auto parts producer. The auto parts cycle has sort of hit a plateau in North America, production running around 18 million units. Maybe growing a little better in Europe. China and Asia has been the big growth story for a lot of the auto parts companies, but may be cooling off. (See Top Picks.)


Price:
$61.340
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
Showing 1 to 15 of 104 entries
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