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Compiling comments that experts make about stocks while on public TV.

Recent Opinions

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Date Signal Company Expert Opinion Price
2017-02-27 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

ETFs for an RESP at the start of University.  As you go into the years where you start to use the funds, you need to make sure the money you will take out each June is not subject to volatility.  Take next June’s withdrawal and put it into a money market ETF.  The rest can be a short term corporate bond ETF.  At some point before the end of the 4 years of school, we will probably have a recession.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: _N/A
2017-02-27 BUY A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

VIX Products.  There are a suite of single, inverse and leveraged ETFs with Horizon.  You are exposed to US dollars even though you buy them in Canadian dollars.  They are not good for long term trades, however.  HUV-T may be one to look at.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: Unknown
2017-02-27 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Educational Segment.  Diverging tax policy in the US and Canada and how to take advantage of it.  Trump is addressing a joint session of congress tomorrow night.  Trump is going to talk about tax, including border tax.  They may not have agreement about tax reform until Q4 this year or even early 2018.  They want the tax reforms to be revenue neutral.  He is far more bullish in his outlook for the US than Canada.  The Canadian dollar could get weaker.  PSU-T is a high interest savings account, but you would also make money on the drop of the CAD$ relative to the US$.  For more aggressive types you could play it with small caps in the US and an inverse position in Canada.  There is volatility ahead with ambitious estimates for earnings growth possibly not happening.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: _N/A
2017-02-27 N/A A Comment -- General Comments From an Expert
A Commentary
James Thorne

Markets.  We are into a radically different era, especially when dealing with the US.  He refers to a book by William Strauss and Neil Howe, “The Fourth Turning”.  Every 80 years structures in the global economy have to be torn down and built back up again.  We have to trust Donald Trump and take him at face value.  This is going to be a world phenomenon and investors have to get used to it.  This is a natural evolutionary cycle and we have come to a crisis where things have to change.  People are going to talk about this period in history for a long, long time.  He does not know where the Canadian government stands.


Price: $0.020
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: _N/A
2017-02-27 N/A A Comment -- General Comments From an Expert
A Commentary
Mike S. Newton, CIM FCSI

Market. If the market holds out in February, it will be the 13th consecutive month that the TSX has gone up, and it hasn’t happened that many times since 1981-1982 and back in the 1960s. It makes you wonder when the pullback is coming. One of the most frustrating markets for people who are underinvested, or who have a lot of cash and who are trying to find some type of pullback to get in on. There were a lot of positive comments from Warren Buffet over the weekend. Thinks the real tell will be tomorrow late, when we see whether or not Trump does a big meandering speech without any specifics, or if he actually gets into detail. We need to really see some detail in the State of the Union address, otherwise there will be a lot of concern on what is going on. Thinks buying an index fund at these levels is going to be a bit of a riskier play than most people think. Underneath the broad market, there is still some good value.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: _N/A
2017-02-27 BUY A Comment -- General Comments From an Expert
A Commentary
Mike S. Newton, CIM FCSI

Canadian Banks? Banks had a good run last until Friday, where they were up about 8%. They were all down today which brings them to about 6%. They’ve had a great 16 month run, but looking at a longer-term chart, they really didn’t do much for about 3 years. The quality of their mortgage Book is good. Thinks they are emerging out of a five-year run, so he is still happy to be in them. He would be buying all 5. (He is more inclined to be in the US banks through the Hamilton Capital Global Bank ETF (HBG-T).)


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Yes
2017-02-27 COMMENT Apple
AAPL-Q
Mike S. Newton, CIM FCSI

This was a great win for him for 8-9 years. Has been out of the name for about 2 years. He has always been a big believer in their eco-system, but is really confused by why they haven’t bought some of their competition.


Price: $136.930
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-27 PAST TOP PICK AutoCanada Inc.
ACQ-T
Mike S. Newton, CIM FCSI

(A Top Pick April 27/16. Up 10%.) A little too volatile for his liking. The only multi-dealership auto publicly traded company. They are perceived to be predominantly Alberta-based, and have to continue to move over to the GTA, which will be the key focus for their growth going forward.


Price: $23.100
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-27 PAST TOP PICK Adobe Systems
ADBE-Q
Mike S. Newton, CIM FCSI

(A Top Pick April 27/16. Up 24%.) It surprises him how well they do. They are winning business from Fortune 500 companies at a record pace. Their latest earnings report demonstrated that. The ability is for mobile to be sent out and reach customers in a much more visual way. Adobe is really helping companies get that done. Still a buy.


Price: $118.780
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Yes
2017-02-27 WAIT American International Group
AIG-N
James Thorne

They had a messy quarter in terms of write downs.  There may be more coming so he would wait a quarter or two to see them clean up their book a little bit.


Price: $64.000
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2017-02-27 SELL American Tower
AMT-N
James Thorne

They have exposure into India.  It is an expensive stock with a low dividend (~2%).  He sold it earlier this year.  He would not short it.


Price: $113.340
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: No
2017-02-27 TOP PICK Alimentation Couche-Tard (B)
ATD.B-T
Mike S. Newton, CIM FCSI

Thinks this is a victim of consolidation and a little bit of index competition. If you are in Canada, this is a great place to hide until energy stocks do really well. At 15X earnings it is about as cheap as you are going to find it for really good long-term growth. They continue to do an extremely good job with M&A. Dividend yield of 0.6%. (Analysts’ price target is $77.50.)


Price: $60.070
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Yes
2017-02-27 TOP PICK Bank of America
BAC-N
James Thorne

US financials have a way to go, two or three years.  It is only going to get better.  It pays a dividend.  He is confident the housing market will stay robust.  (Analysts’ target: $26.00).


Price: $24.570
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Yes
2017-02-27 COMMENT Bank of America
BAC-N
Mike S. Newton, CIM FCSI

Feels a lot of people are hoping this is going to happen and if he is wrong, he will be running for the hills. The US banks have really done nothing for about 11 years and he feels they have a lot of upside from here.


Price: $24.570
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Yes
2017-02-27 SELL Bombardier Inc (B)
BBD.B-T
Larry Berman CFA, CMT, CTA

He does not know what to do here.  It is cheap from a long term perspective, but there has been a demonstration of poor execution for years.  You could take a shot at it at $1.50, but you should not be in it right now.


Price: $2.360
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: Unknown
2017-02-27 WATCH Bristol Myers Squibb
BMY-N
James Thorne

Money is going to come back into these drug stocks, but we have to see what happens with Obamacare.


Price: $56.560
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2017-02-27 WEAK BUY Berkshire Hathaway Inc. (B)
BRK.B-N
James Thorne

It does not pay a dividend because he believes he can better reinvest it in the company (buying more companies).  You cannot disagree with his track record.  It may be a stable position for you.  There are other areas in the financial industry that look more attractive at this time, however.


Price: $170.630
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2017-02-27 DON'T BUY Blackstone Group LP
BX-N
James Thorne

It is one of the top private equity companies in the world.  They are an L.P. so get special tax treatment and you would have to file with the IRS even if you are a Canadian.  You are better to own it through a fund so they do all the work with the IRS.


Price: $29.790
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: No
2017-02-27 PAST TOP PICK CitiGroup
C-N
James Thorne

(Top Pick Dec 9/16, Down 0.3%) He was expecting them to move up, but he still likes it.


Price: $60.020
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Yes
2017-02-27 COMMENT Chicago Bridge & Iron Co.
CBI-N
Mike S. Newton, CIM FCSI

The kind of torque that he thought he would get from an industrial name. It felt like a Trump stock. He still likes it. They have been plagued by a decline in oil prices and oil drilling activity, because they are still perceived to have a very big oil/gas drilling business, but thinks it is lower than what people think.


Price: $34.310
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Yes
2017-02-27 PAST TOP PICK Comcast Corp
CMCSA-Q
Mike S. Newton, CIM FCSI

(A Top Pick April 27/16. Up 24%.) This just did a 2 for 1 stock split last week, and continues to have huge market leadership. They continue to roll out the X1 Infinity Operating system. This has a pretty captive audience and a really good subscriber rate. It should be part of everybody’s portfolio. Still a buy.


Price: $37.530
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Yes
2017-02-27 WATCH Cummins
CMI-N
James Thorne

He is looking for what the tax policies are coming out of the Trump administration.  If he offers accelerated depreciation then this one would benefit.


Price: $149.910
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2017-02-27 WEAK BUY Costco Wholesale
COST-Q
James Thorne

If you have to own a retailer this would be one to look at.  There is a small group of stocks that are surviving in retail.  The whole industry is going through a change.  But he thinks there are other areas in the market that look better.  It pays a 1% dividend.


Price: $177.620
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2017-02-27 COMMENT Costco Wholesale
COST-Q
Mike S. Newton, CIM FCSI

A retailer that continues to do very well. They had some hiccups in 2015 where they had some earnings hits. A low volatile name. Suffering a little bit of rotation problem right now, because people are getting excited about the more highflying names, but every time this pulls back, generally speaking it has been a good time to buy.


Price: $177.620
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-27 BUY Cisco
CSCO-Q
James Thorne

It has a 3.4% yield.  He likes it.  On a seasonal basis technology may take a breather here.  As we connect more and more devices up to the cloud this one should benefit.  Trump may focus on building out the digital infrastructure in the states.  He thinks they will be well placed going forward as we move from the world of analogue to digital.  They are executing so you won’t lose any sleep over it.  (Analysts’ target: $35.00).


Price: $34.260
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Yes
2017-02-27 TOP PICK Goldman Sachs ActiveBeta Em Mkts Equity ETF
GEM-N
Mike S. Newton, CIM FCSI

Emerging markets are breaking out from a long-term, 5-7 years, sideways move. The valuation on this is really interesting. The weighted average P/E ratio is 13.7. It is about 70% Asia, and more specifically about a quarter is China. Has had a good run being up about 25% in 12 months, but thinks that will continue.


Price: $29.260
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Yes
2017-02-27 BUY CGI Group (A)
GIB.A-T
Mike S. Newton, CIM FCSI

Growing rapidly. 55% of revenues are from Europe. It has shown very, very good low volatility nature over the years. Probably something that you want to own. He’s always preferred looking at an Open Text (OTEX-T), Constellation Software (CSU-T) or in the IT area.


Price: $61.550
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-27 COMMENT Gilead Sciences Inc.
GILD-Q
Mike S. Newton, CIM FCSI

Something he was very excited about owning for about 5-6 years, and it did very, very well. Using his stop-loss strategies, he was able to pull out of the name when Hillary Clinton started talking about drug costs. Believes this has an absolutely, ridiculous, low PE ratio. Their hepatitis C drug looks like it is their one trick pony, which is causing it to pull back. This whole space is getting pretty long in the tooth of a downward trend in the cycle. Thinks the selloff is overdone. The kind of thing where we have to start looking for some value. Attractive at this level.


Price: $70.500
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-27 BUY Alphabet Inc. (A)
GOOGL-Q
Mike S. Newton, CIM FCSI

Trading at an all-time high, and the only advantage of buying it now is that the Cdn$ is slightly stronger now than a year ago. These companies are onto a big, big trend. 1.5% or a 2% starting position is not a bad idea.


Price: $849.670
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Yes
2017-02-27 COMMENT Kinaxis Inc
KXS-T
Mike S. Newton, CIM FCSI

This keeps surprising him with new highs. Has a great business relationship with Accenture (ACN-N) which continues to do very well. Getting a bit top-heavy at around $72. He’ll continue owning as long as the trend continues to work, and they keep printing good numbers in their quarterly reports. He is trailing this with stop losses.


Price: $71.810
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Yes
2017-02-27 BUY Lockheed Martin
LMT-N
James Thorne

He expects to hear about an increase in US military spending in tomorrow night’s speech.  They will benefit from the border tax.


Price: $269.360
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2017-02-27 HOLD Mastercard Inc.
MA-N
Mike S. Newton, CIM FCSI

Everything is moving along extremely well in this space. One of the big issues is the Durban report, who have been ruling on exchange fees/transaction fees and trying to get some clarity. That would have been very adversarial towards the credit card companies, but recent news indicates it might have been better than what they had thought. The broad theme of online credit card processing is one that is not going to end.


Price: $110.570
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-27 WAIT Magna Int'l. (A)
MG-T
James Thorne

Wait a couple of days and see if you can get a better entry point.  It was just rated a strong buy by an investment firm.  He does not know what this one will look like after the trade negotiations are done.


Price: $57.180
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2017-02-27 PAST TOP PICK MacQuarie Infrastructure LLC
MIC-N
James Thorne

(Top Pick Dec 7/16, Down 8.4%) It is a steady eddie stock.  Someone came up with a short thesis and it went down.  It pays a good solid dividend of almost 7%.


Price: $76.360
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Yes
2017-02-27 DON'T BUY Mitel Networks
MITL-Q
James Thorne

There are other places he would rather be (e.g. Technology).


Price: $6.750
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: No
2017-02-27 COMMENT Vail Resorts Inc
MTN-N
Mike S. Newton, CIM FCSI

Reported results about 3-4 weeks ago, and everything was ticking along very, very nicely. Thinks they recently bought something in the New England states. They continue to buy in Europe. Just as much business is done in the off-skiing seasons, so it an all-season structure. He likes this, and has owned it in the past.


Price: $182.770
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-27 WAIT Nvidia Corp
NVDA-Q
James Thorne

It is a wonderful company, but sometimes that does not make a company a great investment.  It is in a great area and will have a wonderful future.  Typically the fourth quarter is wonderful in tech stocks.  The sell side then wants to sit back and watch it for a period of time. 


Price: $104.410
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2017-02-27 TOP PICK Nvidia Corp
NVDA-Q
Mike S. Newton, CIM FCSI

Was looking at names that were doing extremely well on all kinds of different metrics. This recently had a pullback from $119 down to $100. What they are doing in the graphical space, and with their processing chips, is completely different than what Intel did in the 1990s. This company invented the GPU. Dividend yield of 0.5%. (Analysts’ price target is $120.)


Price: $104.410
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Yes
2017-02-27 COMMENT First Asset Energy Giants Cov Call ETF Hgd
NXF-T
Mike S. Newton, CIM FCSI

Given that the energy space is volatile, but not overly sold, the covered call strategies have looked pretty attractive over the last couple of years. Generally speaking, he is not an energy fan or investor. However, when his arm gets twisted by a TSX that roars forward, and he is not playing that game, he tends to go in and rent that ETF space.


Price: $8.080
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Unknown
2017-02-27 DON'T BUY Popeyes Louisiana Kitchen Inc.
PLKI-Q
James Thorne

With the changing demographics and tastes, people are more eating at home. The sector is ripe for a consolidation, but he does not buy consolidations.


Price: $79.040
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2017-02-27 DON'T BUY RioCan Real Estate Investment
REI.UN-T
Larry Berman CFA, CMT, CTA

If you want to be in the sector, use ZRE-T because sometimes a stock underperforms and sometimes it outperforms.  Recently the sector has been improving while REI.UN-T has not.  REITs are not cheap compared to other places to get a dividend.


Price: $26.610
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: Unknown
2017-02-27 TOP PICK Banco Santander SA
SAN-N
James Thorne

European & Latin American bank.  The idea is that if it works in the US, then it will be copied in Europe, where banks are dirt cheap.  This theme has longer to go than the US financial theme.  (Analysts’ target: $4.27).


Price: $5.360
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Yes
2017-02-27 TOP PICK Star Bulk Carriers Corp.
SBLK-Q
James Thorne

This is the way to play commodities – through volume and not price.  He loves industries that are coming out of bankruptcies.  He does not think commodity producers are going to compete on price.  (Analysts’ target: $7.60).


Price: $9.200
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Yes
2017-02-27 DON'T BUY Sears Holdings Corp.
SHLD-Q
James Thorne

You have the Amazon effect.  They are owned by a hedge fund.  He would not touch it.  There is overcapacity in the retail space.


Price: $8.040
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: _N/A
2017-02-27 COMMENT Sphere FTSE Emerging Sustainable Yield ETF
SHZ-T
Mike S. Newton, CIM FCSI

This has a sustainable overlay to their investment strategy, which makes it a little unique. He believes emerging markets is the place he wants to be starting to allocate a little bit of money. His only question is whether this company will be successful and reach a critical mass, but he doesn’t know the company that well. (See Top Picks.)


Price: $10.280
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-27 DON'T BUY Stryker Corp.
SYK-N
James Thorne

It is an interesting space, but expensive.  Wait until we get clarity on what is happening with Obamacare.  Investors may migrate out of the devices group.


Price: $128.580
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2017-02-27 PAST TOP PICK Tahoe Resources
THO-T
James Thorne

(Top Pick Dec 9/16, Down 8.8%) He bought more today.  He bought them to benefit from the increase in commodity prices.  He still likes it.  It still pays a dividend.  They are still reducing costs.  2.8% dividend. 


Price: $10.650
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Yes
2017-02-27 COMMENT Spin Master Corp
TOY-T
Mike S. Newton, CIM FCSI

This has done a pretty fantastic job. The only toy company in Canada that is around at the moment. There is a lot to be said on the potential for it to be taken out. He likes the company, but a bit too niche for him.


Price: $35.430
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-27 WAIT Tesla Motors Inc
TSLA-Q
Mike S. Newton, CIM FCSI

Just downgraded today by Goldman Sachs. It is something he does want to own and plans on getting into it at some point, but wouldn’t buy it in a downtrend, or anywhere in this area right now. Wait for the stock to break through about $280. That would break it out of a four-year sideways trend. Seeing it at $280+ for some consistent period of time, would give you a sort of “all clear” on the stock, and it could be very, very interesting.


Price: $246.230
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-27 BUY United Parcel Services
UPS-N
Mike S. Newton, CIM FCSI

Has a huge position in FedEx (FDX-N) which is where he sticks his claim on the whole delivery space. However, this would certainly be something he would be happy to own. Doesn’t know why it has dropped, but would take advantage of it.


Price: $106.730
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-27 BUY SPDR Financial E.T.F.
XLF-N
James Thorne

The US financials have lagged the market over the last few years.  They are now trading at a massive discount.  This is a long term theme that he thinks is very interesting.  If Trump reduces regulation, then US banks should get up to the level of the Canadian banks.  He thinks the Fed is way behind in rising interest rates.


Price: $24.550
Subject: US DIVIDEND
Bias: UNKNOWN
Owned: Unknown
2017-02-27 PARTIAL SELL BMO S&P/TSX Laddered Preferred
ZPR-T
Larry Berman CFA, CMT, CTA

This is expensive now.  He has been selling into the strength since December.  If it gets back to those levels he would buy back in.


Price: $11.345
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: Unknown
2017-02-27 COMMENT BMO Covered Call Cdn Banks ETF
ZWB-T
Larry Berman CFA, CMT, CTA

There is no real negative from the covered call strategy in a dropping market unless the stock goes down by large up & down movements.  However, it enhances your yield while you are waiting out the downturn.


Price: $19.200
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: Unknown
2017-02-27 COMMENT BMO Europe High Dividend Covered Call Hedged to CAD ET
ZWE-T
Mike S. Newton, CIM FCSI

Likes the European space and has been cautiously moving into it. There are a lot of events on the horizon. The covered call writing gives this about a 6.75% yield. He would be more inclined to go directly without having a covered call strategy on top. You would probably get more torque and upside here by not using the covered call strategy. Not using covered calls brings down the costs.


Price: $21.330
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: Unknown
2017-02-27 WAIT BMO Covered Call Utilities ETF
ZWU-T
Larry Berman CFA, CMT, CTA

Utilities, pipelines and Telco’s.  80/20 Canadian to US.  It fell on anticipation of interest rate increases and oil dropping early in 2016.  You have to be careful because rising interest rates and falling oil prices are both negative for it.


Price: $13.850
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: UNKNOWN
Owned: Yes
2017-02-27 BUY BMO Covered Call Utilities ETF
ZWU-T
Mike S. Newton, CIM FCSI

He doesn’t own any utility ETF’s right now. They are one of the most battered parts of the market, which would have been a great opportunity to buy around Christmas. This ETF is pretty good. It has a great yield. It has a combination of both Canadian and US utility names. This is a pretty good entry point. 6.75% yield.


Price: $13.850
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: OPTIMISTIC
Owned: No
2017-02-24 N/A A Comment -- General Comments From an Expert
A Commentary
Bill Shaw

Market. The markets are not cheap. Forward earnings on the TSX and the S&P are at 24X plus. As a value manager, he likes to buy stocks a lot cheaper than that. It makes it even more crucial to look at securities you are buying today, making sure, if a value investor, that they are indeed cheap. He still sees some growth, maybe at the 1.5X or 2X level. If Mr. Trump gets his policies put in place pretty quickly, we might see a little more tepid pace than the 3%-4% type level.


Price: $0.020
Subject: CANADIAN DIVIDEND & REITS
Bias: UNKNOWN
Owned: _N/A
2017-02-24 N/A A Comment -- General Comments From an Expert
A Commentary
Bill Shaw

The effect of interest rates on REITs? Some people look at REITs as bond proxies, so they are going to be sensitive to interest rates. The key thing is to look at each REIT individually. You need to look at the duration of their mortgages that underlie the REIT and their financing. Most of them have gone long at 7-10 years, which means they have locked in current rates. The biggest concern is if we have a sharp move up where there might be some competition from bonds. If a longer-term investor, and you think rates are going to stay relatively flat for the next 2-3 years, the REIT sector is going to be a steady Eddie, and you are probably looking at dividend returns of 5%-6% and capital returns of another 4%-5%, so you are probably looking at 10%-12% compounded.


Price: $0.020
Subject: CANADIAN DIVIDEND & REITS
Bias: UNKNOWN
Owned: _N/A
2017-02-24 N/A A Comment -- General Comments From an Expert
A Commentary
Andrey Omelchak

Market. Overall market multiples are looking like they are getting beyond levels that can be justified. The pulled back today, but after so many days and weeks of market outperformance, a natural pullback is warranted. It is a step in the right direction to make things more justifiable. In this environment, active managers have a tremendous benefit to be able to step in and protect investors’ capital. You can still find a lot of good opportunities in this market, but you really have to search quite a bit. You have to focus on stock picking and downside protection, and Buy the companies when they trade at a discount to intrinsic value.


Price: $0.020
Subject: CANADIAN & HEDGING
Bias: UNKNOWN
Owned: _N/A
2017-02-24 DON'T BUY A Comment -- General Comments From an Expert
A Commentary
Andrey Omelchak

Energy? He has a negative bias against investing in resources. In this type of industry they destroy capital throughout the cycle and don’t create value for their shareholders. You are sitting on a business that is constantly depleting, so they have to always replace existing assets. To do this, they have to continually make acquisitions. The incentive structure in this industry for the top management team is really misaligned with their shareholders. On a risk adjusted basis, you will not be well served to invest in this industry.


Price: $0.020
Subject: CANADIAN & HEDGING
Bias: UNKNOWN
Owned: Unknown
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