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

Viewing Expert

Michael Sprung , President

Sprung Investment Management

Address
25 Adelaide Street East, Suite 500
Toronto, ON
M5C 3A1

Contact Info
Telephone: 416-934-7160
Email:
Website: http://www.sprunginvestment.com/


Date Signal Chart Symbol Company Opinion Price
2017-09-13 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. There are some risks in the market right now, but they have been building for some time. We’ve had a long run of good markets without any significant pullback. No one ever knows where or when or why it is going to happen. You watch valuations and things begin to look a little more expensive, and it is harder to find things you are comfortable buying. Over the last 6-8 months, he has been a net seller as opposed to a buyer. Cash positions are building a little. It is probably prudent at this time in the cycle to have some cash on the sidelines in case you do see some sort of significant pullback, whether it is set off by a geopolitical event, an economic event.


Price:
$0.020
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
_N/A
2017-09-13 COMMENT Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

An ETF of Canadian large caps with a proven track record and growing dividends for an RESP? With a managed ETF, you are going to get a little more diversification. You could also do this by selecting a couple of sector ETF’s, and putting them together as sort of a complement. He would tend to do this with 2 or 3 different ETF’s, such as some that are exposed to Canadian financials, and then buying one that is partially exposed to some energy, and partially to some industrial.


Price:
$0.020
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-09-13 SELL Must be logged in to use chart AC-T Air Canada

Hurricanes cause a disruption of services, but it is going to be temporary. You have to look at the bigger picture. Airlines appear to be facing more and more competition. Has always been wary of airline stocks as you are dealing with extremely expensive aircraft and largely unionized employees and a very competitive environment for price setting. Airlines have had a good run over the last while, and if he owned any, he would be taking profits.


Price:
$23.590
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
No
2017-09-13 TOP PICK Must be logged in to use chart AD-T Alaris Royalty

Over the last 2 years, this company has had its share of setbacks, but most of that seems to be getting worked through. Recently one of the companies that provided a large chunk of their cash flow has redeemed, and people have been wondering what they are going to do. They’ve made the largest capital deployment in their history with the Sales Benchmark Index, which is a large consulting firm. That is going to go a long way. The key is that they put money into private businesses at a certain rate and then pay the dividends through to shareholders at a slightly lesser rate. Feels we are now going back on a path where there are going to be dividend increases going forward. Dividend yield of 7.7%. (Analysts’ price target is $24.)


Price:
$20.930
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-09-13 BUY Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

Over the years, this is proven to be an extremely astute investor. They have diversified into a lot of industries. Also, they are very good players within private equity markets. With this, you have to be a long-term player, but you can count on management liking to participate in capital gains and dividends over time.


Price:
$47.770
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-09-13 COMMENT Must be logged in to use chart BCE-T BCE Inc.

Out of all the Canadian telecoms, he primarily looks at this one. They’ve always had the advantage of having the grandfather position in Canada. Lately, they’ve been changing their model a bit and going more to wireless, with less dependence on their wire line offerings. Also, the provision of Internet services is becoming a bigger and bigger thing. We are seeing a huge movement in the industry to Internet protocol, whether TV, telephone or whatever. This company is going to be one of the primary beneficiaries of that. Feels we may be reaching a plateau with all the telecoms, and he wouldn’t be surprised to see them all pause. Dividend yield of 4.9%.


Price:
$58.250
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-09-13 COMMENT Must be logged in to use chart BIP.UN-T Brookfield Infrastucture Partners

There has been a bit of a pullback. The rationale for a pullback is hard to determine. It might be that people are thinking some of their projects are going to be pushed a little further out. He wouldn’t be concerned about the pullback. If playing this for the dividend, infrastructure is a good place to be. On a macro level, he prefers the more diversified asset management company. Dividend yield of about 5%.


Price:
$51.060
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-09-13 COMMENT Must be logged in to use chart CM-T Canadian Imperial Bank of Commerce

Probably one of the better capitalized banks, although in the last round of earnings, it fell from being at the very top tier, but it is still very well capitalized. Has a very good dividend which is approaching 5%. On a P/B basis, it is looking like one of the more reasonable priced banks. He likes the combination of a high ROE and low P/B with a prospective growing dividend stream going forward.


Price:
$107.120
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-09-13 BUY Must be logged in to use chart CNQ-T Canadian Natural Rsrcs

He likes this a lot and admires its management. Probably the foremost producer in Canada without being integrated. A real benchmark for the energy industry. Superbly run, and has always maintained a good solid balance sheet. That allows them to take advantage when opportunities arise. Lately they’ve made some significant acquisitions, and he expects that will continue going forward.


Price:
$40.220
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-09-13 PAST TOP PICK Must be logged in to use chart CVE-T Cenovus Energy

(A Top Pick Nov 4/16. Down 40%.) Had bought this with its clean balance sheet, etc. and then they made a gigantic acquisition which transformed it. However, they’ve been very successful at disposing of some assets, and he expects they will close on some more dispositions before year-end. They know they have to address the balance sheet problem.


Price:
$10.980
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-09-13 COMMENT Must be logged in to use chart ENB-T Enbridge

Enbridge (ENB-T) or Inter Pipeline (IPL-T)? Both are out of favour now, but are 2 of the better pipeline stocks you can be invested in. Has long admired this company, which tends to be a little more expensive over time, but you are paying for very high-quality management. They’ve done some job of deploying the resources. Both companies have fairly well defined CapX programs going forward. You could probably expect more rapid increases in dividends from this company. Both stocks would be vulnerable to a rising rate environment.


Price:
$49.870
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-09-13 TOP PICK Must be logged in to use chart FTS-T Fortis Inc.

One of his favourite utilities. Has a large US presence. A big part of their M&A growth is behind them. They made 2 major acquisitions in the last few years, one of them being in Texas, so capital expenditures might be going up a little in the near term. They are much more into energy transmission as well as generation. Dividend yield of 3.5%. (Analysts’ price target is $50.)


Price:
$44.430
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-09-13 PAST TOP PICK Must be logged in to use chart HCG-T Home Capital Group

(A Top Pick Nov 4/16. Down 43%.) The whole market was somewhat askance at how the situation on this was handled. It literally caused a run on the bank. Also, for a while, it was tenuous as to whether this would survive. It fell so fast, that he decided not to dump his shares. His feeling was that the fundamentals of this business were still intact. They’ve managed to execute a recovery which was very astute. This was followed by Warren Buffett stepping in, and funding costs started going down. Recently announced they were going to stop paying some of the excessive rates they were paying on GICs, etc. He is still buying shares.


Price:
$14.030
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-09-13 COMMENT Must be logged in to use chart IPL-T Inter Pipeline

Enbridge (ENB-T) or Inter Pipeline (IPL-T)? Both are out of favour now, but are 2 of the better pipeline stocks you can be invested in. Enbridge tends to be a little more expensive over time, but you are paying for very high-quality management. Both companies have well defined CapX programs going forward. You could probably expect more rapid increases in dividends from Enbridge. One unknown with this company is, will they go ahead with the big petrochemical plant. Both stocks would be vulnerable to a rising rate environment.


Price:
$22.700
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-09-13 COMMENT Must be logged in to use chart L-T Loblaw Companies Ltd

The dominant one in grocery chains in Canada. The grocery industry lately has seen food deflation. Some are facing higher labour costs if minimum wage initiatives go forward, which will be fairly significant to a company like this. He prefers to own this through George Weston (WN-T), which gives you the bakery business as an added diversification. In groceries, this company would be his 1st choice.


Price:
$65.010
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
No
2017-09-13 COMMENT Must be logged in to use chart MG-T Magna Int'l. (A)

Has been looking at this recently. On a valuation basis, it looks quite reasonable. What is affecting this is not so much political, but the changing dynamics within the car industry. Between autonomous vehicles possibly coming in, car sharing programs, Uber programs, and the dynamics of how people are going to own automobiles is changing. Nonetheless, someone is still going to have to make the parts and build the components, and this company is well positioned to do that. They have significant manufacturing capabilities globally.


Price:
$59.860
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-09-13 PAST TOP PICK Must be logged in to use chart NWC-T North West Company

(A Top Pick Nov 4/16. Up 23%.) Still considers this as a Buy. It is nice if you can get it under $30. They will be impacted a little by the hurricane as they had 12 stores in the islands, which would have represented about 10% of pre-tax profit. Giant Tiger has been lagging, but they have been doing some tremendous adjustments in their management of product in the far North, and margins and market share have been going up. Has a new delivery system with the air transport that they purchased. Good company and good dividend.


Price:
$30.090
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-09-13 COMMENT Must be logged in to use chart PONY-T Painted Pony Energy

Among the junior intermediates, this is a well-managed company. At these levels, this has caught his attention. They run a very good operation, and tend to have a fairly good discipline on their capital deployment. This is one he would be looking at to add in the near future.


Price:
$3.190
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
No
2017-09-13 COMMENT Must be logged in to use chart SLF-T Sun Life Financial Inc

Likes the longer-term outlook, not only for the fact that in a rising rate environment insurance companies tend to benefit, but also in the way they have been able to change their business mix over the years, with an emphasis more on wealth management, pension planning and retirements. They are well positioned in the US. This is a company you can be very comfortable in owning going forward.


Price:
$46.920
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-09-13 COMMENT Must be logged in to use chart SOX-T Stuart Olson Inc

This has had its share of difficulties over the years, with some fixed price contracts that went overpriced. There was also a slowdown in energy industry, and they were largely exposed to Alberta at the time. They’ve made attempts to diversify. With the proposed spending going forward on infrastructure, their industrial segment should pick up. Believes this still has significant upside.


Price:
$5.300
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-09-13 COMMENT Must be logged in to use chart TECK.B-T Teck Resources Ltd. (B)

In the last day or so, we have seen a few of the mining stocks suffering from fairly rapid setbacks. What was driving this company up to now was a very good met coal market. Right now, he thinks people are stepping back and saying “We have seen some strength in commodities lately, but how sustainable is it, and how likely is it going to last.” The pullbacks might be a bit of a buying opportunity.


Price:
$26.730
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-09-13 COMMENT Must be logged in to use chart TOU-T Tourmaline Oil Corp

An extremely well-managed company. Until recently, it has always looked expensive to him, relative to some of the alternatives in the oil patch. It is nearing areas now where it is beginning to hit his screens, and he is beginning to take a closer look at it. This could be a good opportunity.


Price:
$24.830
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
No
2017-09-13 TOP PICK Must be logged in to use chart VET-T Vermilion Energy Inc

Has operations in the Netherlands, Germany, Ireland and North America. A very solid free cash flow generator even at today’s prices. Well valued and well-managed. Dividend yield of 6.1%. (Analysts’ price target is $50.)


Price:
$43.900
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-09-13 COMMENT Must be logged in to use chart ZZZ-T Sleep Country Canada Holdings

Hasn’t been spending a lot of time working on this, but what is impeding its progress lately probably has more to do with encroaching competition in that industry. There have been more Internet mattress sellers coming on stream lately. Also, they are facing some cost escalations. Feels they are generally facing some fundamental shifts in retail. He would be very sensitive to the valuation you pay on this.


Price:
$32.090
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
No
2017-07-21 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market.Non-resource markets did very well. The European economies are putting up better numbers. Even in the Asian emerging markets, there was a lot of trade in technology happening. The resource markets were somewhat left out of it, and financials were kind of dull in the 1st half. When you set the stage for the 2nd half, all of a sudden you have Central Banks around the world talking more hawkishly and interest rates rising. We are just coming out of what has been a very long, slow and tepid recovery. You don’t really know how economies are going to adjust to higher rates, and how fast that is going to happen, and whether or not there might be some adjustments along the way. Inflation is almost negligible, so why push interest rates up against that? This is a time to be really cautious and look at the quality of the companies you are investing in. Even though the recovery has been slow, markets have been fairly good. The wildcard in all of this are trade talks which have just started.


Price:
$0.020
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
_N/A
2017-07-21 BUY Must be logged in to use chart AD-T Alaris Royalty

This had a bit of a setback over the last couple of years, but we are finally beginning to see them work out of the problems they’ve had with their partner companies. A good stock for people who are looking for steady income. One of the fears was when a number of these companies were having trouble meeting their preferred payments. They’ve made a few new investments with some new companies and have started a small-cap division. They are finally getting back on track. Dividend yield of 7.25%.


Price:
$21.880
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-07-21 TOP PICK Must be logged in to use chart AGT-T AGT Food & Ingredients

This has been an off year for them. The pulse market has been somewhat in the doldrums. The perennial problem with the fumigation issues on importing pulses into India, has surfaced again. Over time, the company has been diversifying into ingredients for human and pet consumption. They’ve recently just bought some more transportation access to a port facility. Dividend yield of 2.4%. (Analysts’ price target is $35.)


Price:
$26.000
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-07-21 COMMENT Must be logged in to use chart ALA-T Altagas Ltd

A company that is balanced between regulatory and other activities. The dividend is fairly secure at this time. Originally, they were more western based. Within the sector there are probably other quasi-utility type situations that he would look at first.


Price:
$29.270
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
No
2017-07-21 COMMENT Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

An extremely well-managed company over the years. They’ve been very, very astute investors over time. It is just a question of what you pay for it. He has a very small position in this.


Price:
$49.720
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2017-07-21 COMMENT Must be logged in to use chart BCE-T BCE Inc.

Sell Rogers (RCI.B-T) and buy Bell (BCE-T)?A really interesting question, particularly with the 1st salvo we’ve had from the trade negotiations were the US has said that they want to have greater access to our telecommunications industry. In that case, he’s not sure you want to own any of these. His preference would be with this one, but only because it is dominant within the wireless industry. Also feels it would be a little more secure in the longer-term.


Price:
$58.530
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
Showing 1 to 30 of 3,248 entries
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