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
2017-01-11 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market.Earnings season starts in earnest very soon, and all indications are that things should be pretty good. We have seen a pretty good rally since the election. The rally is justified, it’s not just a flash in the pan. We are on the cusp of a legitimate regime change in the markets whereby the baton is being handed from the monetary authorities back to the government. With Republicans now firmly in control of the government, they are very likely to run a pro-growth agenda led by tax cuts, both personal and corporate, probably rounded out by some infrastructure spending later on, and perhaps some tax repatriation holidays.


Price:
$0.020
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
_N/A
2017-01-11 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Rate resets?A lot of investors are going to be wrestling with the need for income as people are aging. The preferred share market is an asset class that is taxed favourably. It is not quite the same risk exposure as government bonds, and there is more volatility and can go wrong if rates fall. Rates are not likely to fall. Rate resets are by large trading at 4.5%-5%. He likes this asset class.


Price:
$0.020
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
Unknown
2017-01-11 BUY Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Investment for a TFSA account?He wouldn’t be put off by Canadian banks being at all-time highs. They are tremendous shareholder value creators, and earn about 14%-15% ROE. They are steady and consistent businesses that tend to grow earnings most years. Most have medium term earnings growth targets in the 7%-10% range. Pretty good governance businesses and pay out pretty good dividend yields. He likes Royal Bank (RY-T), Bank of Nova Scotia (BNS-T) and Toronto Dominion (TD-T).


Price:
$0.020
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
Unknown
2017-01-11 BUY Must be logged in to use chart AGT-T AGT Food & Ingredients

Playing in the growing category of pulses, beans and lentils, which are on trend with consumers’ tastes and preferences, and increasingly dietary restrictions. A robust growth story. He likes this.


Price:
$35.370
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
Yes
2017-01-11 PAST TOP PICK Must be logged in to use chart ATD.B-T Alimentation Couche-Tard (B)

(A Top Pick Aug 29/16. Down 10.9%.) The consumer staples group as a whole, has been a source of money for investors chasing more procyclical exposure in energy, and in some cases gold or base metals in the 4th quarter, or even industrials or financials. He continues to Buy this.


Price:
$60.100
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
Yes
2017-01-11 TOP PICK Must be logged in to use chart ATD.B-T Alimentation Couche-Tard (B)

This has been a tremendous value creator in the Canadian consumer space. The leading convenience store operators in North America. From Québec, they have expanded into the US, Scandinavia and the Baltics, and are poised to make their largest acquisition yet, which should be about 15% accretive to earnings. The founder has aspirations to double the company in size again in the next decade. The industry is still fragmented, and some big chunky assets should still come up on the block in the next couple of years. Dividend yield of 0.6%. (Analysts’ price target is $78.36.)


Price:
$60.100
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
Yes
2017-01-11 COMMENT Must be logged in to use chart BIP.UN-T Brookfield Infrastucture Partners

Part of the broader Brookfield family publicly traded entities. He has great respect for management. Big infrastructure, a secular growth area. We will see funds directed to this area from both Canada and the US. Feels there is better exposure through the parent, Brookfield Asset Management (BAM.A-T).


Price:
$45.340
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
No
2017-01-11 PAST TOP PICK Must be logged in to use chart CCL.B-T CCL Industries (B)

(A Top Pick Aug 29/16. Up 8.21%.) This has been a tremendous “shareholder value” creator. It is in labels, printing, containers and packaging. Had a very nice bump in December when they announced the largest acquisition in corporate history of Innovia.


Price:
$259.000
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
Yes
2017-01-11 COMMENT Must be logged in to use chart CCO-T Cameco Corporation

Owned this in the past, but sold it last fall. If bullish on uranium, this is one of the very, very few ways to play the trade. Physical uranium, unlike most other commodities, is restricted because it is dangerous and has uses in weapons production. This is the most liquid way to play an improving uranium market. It looks like the supply/demand balance is shifting heavily and moving closer to balance, and this company should benefit from that.


Price:
$16.370
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
No
2017-01-11 COMMENT Must be logged in to use chart DGC-T Detour Gold

Gold can be tail risk insurance in a portfolio in the event of financial calamity, currency debasement or rampant inflation. Sometimes an effective way to put on that positioning in the portfolio is through the producers. His view is less constructive on gold as a commodity at the moment. This has a large-scale open pit mine in Northern Ontario, and a long mine life. With the US$ being very strong and the Fed likely increasing interest rates, that would colour his view on holding this name.


Price:
$17.690
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
Unknown
2017-01-11 DON'T BUY Must be logged in to use chart EMP.A-T Empire Company (A)

He doesn’t like falling knives. This one has been a train wreck. They bought Safeway Canada stores about 2-3 years ago, and bungled it spectacularly. They overpaid and over promised. This was at a time when the grocer consumer was becoming more and more price sensitive. Grocery stores have very high operating leverage. As much is their sales are falling, their earnings are falling off a cliff. A big massive beast and is not going to turn around on a dime.


Price:
$15.580
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
No
2017-01-11 COMMENT Must be logged in to use chart GIB.A-T CGI Group (A)

Canada’s leading outsourcer and IT services company. They got a new CEO in October. A great track record of growing. Organic growth is somewhat tepid, so the company has a history of being a “growth by acquisition” story. This gets a limited trading multiple relative to some of the other more dynamic growth stories in the technology space. Their last large deal was done in 2012, which was a game changer, and was massively accretive to earnings. The company has now almost fully deleveraged their balance sheet, so looks like they are ready to go again. A good, backdoor way to play the rest of the world.


Price:
$65.270
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
No
2017-01-11 DON'T BUY Must be logged in to use chart IGM-T IGM Financial Inc.

This has been a tremendous growth story over the years. Has some concerns about conventional mutual fund managers as a whole, including this company. Financial services, specifically mutual funds and asset management is a mature industry that is not growing at 2, 3, 5 or 6X GDP growth rates any more. It is becoming more fee competitive. There are costly and disruptive regulatory forces on the horizon. To the extent that management fees will be phased out over time by regulatory action, it is going to prompt a lot of disruption.


Price:
$40.840
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
No
2017-01-11 TOP PICK Must be logged in to use chart MFC-T Manulife Financial

The 35-year run in the bond market is drawing to a close. All insurers are very heavily exposed on their balance sheets and through their general funds to fixed income securities. Whether mortgages, publicly traded bonds, private loans, etc. They’ve managed to claw and scratch and make money in a very repressive interest rate environment for many years. With rates backing up, it should be a tremendous boon to profitability. Trading at 1.25X BV so it is not expensive. Dividend yield of 2.97%. (Analysts’ price target is $24.92.)


Price:
$24.880
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
Yes
2017-01-11 PAST TOP PICK Must be logged in to use chart MG-T Magna Int'l. (A)

(A Top Pick Aug 29/16. Up 14.93%.) Very much on trend to where investors are reallocating funds in the 4th quarter in the wake of signals given from the election. Canada’s largest auto parts supplier. A prolific cash flow generator with a decent dividend yield. Expects they are going to be buying back stock, which is a new phenomenon for them.


Price:
$60.080
Subject:
CANADIAN & FIXED INCOME
Bias:
UNKNOWN
Owned:
Yes
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