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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
2017-06-15 N/A A Comment -- General Comments From an Expert
A Commentary
Christine Poole

Markets.  Economies are looking pretty good around the world.  Things are improving and it is not just contained to the US.  Everything is in expansion mode in the US.  Emerging markets are stabilizing.  We are seeing instability in oil.  Canada is saying the economic recovery is broadening to other sectors.  She is encouraged that corporate profits in those areas are improving.  Low energy prices are keeping inflation low.  Multiples are high, but corporate profits are coming through.  Second quarter profits should continue.  She forecasts 10-11% profit growth in S&P going forward.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: _N/A
2017-06-15 N/A A Comment -- General Comments From an Expert
A Commentary
Christine Poole

Gold.  She is very low in terms of gold exposure because inflation is very benign right now.  The US$ is quite strong right now.  Volatility is quite low and near historic lows. 


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: _N/A
2017-06-15 DON'T BUY A Comment -- General Comments From an Expert
A Commentary
Christine Poole

Marijuana IPOs.  It is not a sector she is looking at because it is news and momentum driven.  If companies can go public, they are probably taking advantage of the environment.  There is not a lot of fundamental data to work on.  Momentum is based on the assumption that recreational use gets legalized.  It is hard to model out who is going to be winning going forward.  The ETF in the sector creates momentum in stocks and it does not differentiate which ones are attractive.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: No
2017-06-15 N/A A Comment -- General Comments From an Expert
A Commentary
Richard Croft

Market. You can’t look at the market in a vacuum, you have to look at it relative to interest rates. Interest rates are low and are probably going to stay low for another couple of years. GIC rates are probably 2.5%-2.75%. When you buy a GIC from the bank, ultimately you are just borrowing money from them. Instead, why don’t you own the bank? You are going to get a dividend rate of 3.5% to 4.5%. You get a much better yield on equities than you can on fixed income investments. Banks are not cheap, but also not wildly overvalued. Thinks there will be some pickup and growth in the US economy, and the Canadian economy will benefit from that, and we won’t be hurt by NAFTA.


Price: $0.020
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: _N/A
2017-06-15 N/A A Comment -- General Comments From an Expert
A Commentary
Richard Croft

Canadian $? A lot of this is oil. The Canadian dollar has been punished enough. It could stay between $.73 and $.77. He doesn’t see a lot of movement, either upside or downside. Longer-term, rates will be going up.


Price: $0.020
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: _N/A
2017-06-15 COMMENT A Comment -- General Comments From an Expert
A Commentary
Richard Croft

Marijuana? Remember this is going to be regulated, so think of it like you would think of beer and alcohol sales. Secondly, there is probably going to be a level of profit margin, with limits on how much money they can make. From that perspective, there is going to be a lot of competition and a lot of regulations around it. It is not the investment people think it is going to be, and the returns will be quite mellow.


Price: $0.020
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Unknown
2017-06-15 N/A A Comment -- General Comments From an Expert
A Commentary
Richard Croft

How to determine if an option bid/ask is overpriced? The idea that the option’s price has a certain value as a percentage of the stock price, has to do with the volatility assumption on the option. If a Call Option is 10% of the value of the stock price, and there is another Call Option on another stock that is 5% of the value, that simply tells him that the 1st stock is more volatile and higher risk than the 2nd one.


Price: $0.020
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: _N/A
2017-06-15 HOLD Apple
AAPL-Q
Christine Poole

The next iPhone is part of the run up as part of their off shore cash that may be repatriated if Trump comes through.  It would be a one-time boost to the balance sheet.  She would prefer to see more avenues of growth.  Basically phones are just replacement demand.  She is not sold as a growth story.


Price: $144.290
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Unknown
2017-06-15 BUY on WEAKNESS Abbott Labs
ABT-N
Christine Poole

She continues to hold it and likes it.  They have done well this year so she would wait for a pull back to add to this position.  They are good at taking costs out.  They always increase their dividend and it should continue.  A good core holding.


Price: $48.120
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Yes
2017-06-15 BUY Agrium
AGU-T
Christine Poole

She likes it and owns it. This is her exposure in that space.  It is the increasing demand for nutrients in emerging markets.  Also, they have a retail operation that protects them went prices turn down.  They are merging with POT-T when potash prices are near trough levels.  She likes the space.  The industry is consolidating.  There is increasing demand on nutrients. 


Price: $122.190
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Unknown
2017-06-15 COMMENT Alibaba Group Holding
BABA-N
Richard Croft

He likes this company. They just came out with a presentation to financial analysts, and the numbers caught everybody by surprise. They were staggered by the accelerating growth rate the company was talking about. They have a tremendous in with China, and the options are quite illiquid because they are pretty volatile, so you get a nice premium for it.


Price: $135.080
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Yes
2017-06-15 DON'T BUY Bank of America
BAC-N
Christine Poole

She has WFC-N.  The expectation was very high that rates would be raised yesterday.  The yield curve is flattening rather than increasing.  WFC-N was not hit as hard during the banking crisis.  BAC-N should be slowly improving their dividend.


Price: $23.540
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: No
2017-06-15 TOP PICK BCE Inc.
BCE-T
Richard Croft

*Covered Call*. This company has very good dividends which they continue to raise. You write a Call, pick up a little extra income on the stock. This is just a pure income play in your portfolio. Rather than buying the bond, he would use something like this. (AnalystsTarget: $62.)


Price: $59.330
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Yes
2017-06-15 WATCH Brookfield Infrastucture Partners
BIP.UN-T
Christine Poole

That whole group has done very well and she would expect it to continue.  She is watching the parent company with the idea of entering.


Price: $52.810
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: No
2017-06-15 WATCH CCL Industries (B)
CCL.B-T
Christine Poole

It is on her watch list.  It has made good acquisitions and good growth, but she would not enter it right now.


Price: $68.270
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: No
2017-06-15 WATCH Canadian Imperial Bank of Commerce
CM-T
Christine Poole

CIBC is not one of the three she owns broadly.  They have been primarily domestic.  It was hard to see above trend growth. They recently acquired a US bank and so we will have to see how they do.  They got out of the US previously.  As a group she like them as they have pulled back recently.  The improving Canadian economy will be positive for Canadian banks.


Price: $106.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: No
2017-06-15 COMMENT Cisco
CSCO-Q
Richard Croft

He likes this stock. Has used it in his pools in terms of selling Put options against it, because it is one of those stocks that is normally relatively stable. He would consider writing a Put option out to September/October. The bottom line is, he is not wildly bullish on the company, but thinks it is probably not going to go a lot lower.


Price: $31.580
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Unknown
2017-06-15 PAST TOP PICK CVS Health Corp
CVS-N
Christine Poole

(Top Pick Jun 14/16, Down 15%) It stumbled due to competition.  She likes both businesses.  The company is very well managed.  The demographics are good, the industry is consolidating and this should be a surviving player.  It trades below WBA-Q and this is a good entry point to get back in.


Price: $80.090
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Yes
2017-06-15 TOP PICK Walt Disney
DIS-N
Christine Poole

She has owned it for a number of years.  There has been cord cutting affecting ESPN.  But it is being included in the skinny bundles.  They are doing well in terms of the studio.  The Marvel theme is doing well.  Star Wars is ongoing.  It translates into more merchandize and shows in the theme parks.  Shanghai Disney is doing better than expected.  It should make money this year.  (Analysts’ target: $124.00).


Price: $105.980
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Yes
2017-06-15 COMMENT iShares MSCI EAFE E.T.F.
EFA-N
Richard Croft

A very large and liquid ETF that gives you exposure to the European union.


Price: $65.830
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Unknown
2017-06-15 TOP PICK Enbridge
ENB-T
Christine Poole

20% of natural gas goes thought this company.  They have good visibility to cash flow projects.  They have 1-20% growth through 2024.  It is a good time to build a position and get into the name.  It has an attractive yield.  It got to a 52 week low today and bounced off that.  (Analysts’ target: $62.00). 


Price: $50.310
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Yes
2017-06-15 DON'T BUY Extendicare Inc
EXE-T
Christine Poole

She likes the seniors housing market.  They are expanding their nursing home position, but she prefers CSH.UN-T.  She would add this one over EXE-T on a pullback because she prefers private to public.


Price: $10.170
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Unknown
2017-06-15 COMMENT Direx Financial Bull 3x E.T.F.
FAS-N
Richard Croft

A leveraged ETF on financial stocks, which would have done very well since the election. Financials have come off a bit now because some of the regulatory changes the president wants to get through may not go through as quickly as expected. This is designed as a short-term investment, and is not a position you hold for a long-term. He would move out of it or reduce exposure once you have got some of your profits. Think of this as a trading vehicle.


Price: $48.350
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Unknown
2017-06-15 BUY on WEAKNESS Fortis Inc.
FTS-T
Christine Poole

She added it a year to a year and half ago.  Electrical utility are very stable.  They acquired a gas utility in the US last year and it really expanded their exposure.  They create a rising stream of dividends.  3.6% yield, a safe heaven.  She would still hold it or scale into the stock.


Price: $45.560
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Yes
2017-06-15 PAST TOP PICK Goldcorp Inc
G-T
Richard Croft

(A Top Pick May 10/16. Down 6%.) Sell: Goldcorp Oct 24 calls at $2.80. Sell: Goldcorp Oct 24 puts at $2.80.  A Covered Straddle. What made this interesting was that Goldcorp was around $24 and he had an October straddle in place. In October, this stock was trading at $21.68, so the Call option expired in May and he got to keep that money. The Put option he sold would have been exercised, or alternatively he would just buy it back and then sell the stock. That would have been the end of the trade. He collected $4.40 for the 2 premiums. With the stock decline and the Put that had to be bought back, there was a 5% loss on the trade.


Price: $17.380
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Yes
2017-06-15 DON'T BUY Gilead Sciences Inc.
GILD-Q
Richard Croft

This is a volatile stock, which means the option premiums are pretty expensive on it. If you are bullish on this, he wouldn’t Buy an option, but would be more inclined to write a Put. Not sure he would buy an option on this.


Price: $64.810
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: No
2017-06-15 BUY H&R Real Estate Inv Trust
HR.UN-T
Christine Poole

She likes the name.  Commercial, industrial and blue chip client base with high occupancy and long leases.  They have a bit of retail.  They pulled back a bit, but it could be because of a building in Calgary with EnCana as the primary tenant, which has a long term lease.  She is more cautious on more retail REITs, with Target going.  Although they are able to lease out at higher rates than Target had.  They have a stable cash flow stream.


Price: $22.590
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Yes
2017-06-15 BUY on WEAKNESS Interfor Corp
IFP-T
Christine Poole

She owns IFP-T.  It has an attractive yield, being hit with declining energy prices.  They made attractive acquisitions.  They have a pipeline that will give them an attractive dividend for the next few years.  She thinks that it will moderate going forward.  It is a high quality name and well positioned.  You could buy on weakness for the yield. 


Price: $18.010
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Unknown
2017-06-15 COMMENT iPATH DJ-UBS Coffee
JO-N
Richard Croft

Doesn’t have a real good opinion on where coffee is going from here. We are always going to be drinking coffee. Demand is strong. If the price of this keeps going down, there must be a decent supply of coffee out there.


Price: $17.060
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Unknown
2017-06-15 DON'T BUY Kroger Co.
KR-N
Christine Poole

She does not follow it closely.  Food retaining is quite competitive.  She does not like the space in the US.  She only owns L-T in Canada and they also have shoppers which she likes.  She would not add US retailers to the US portfolios. 


Price: $24.560
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Unknown
2017-06-15 PAST TOP PICK Orbcomm Inc
ORBC-Q
Richard Croft

(A Top Pick May 10/16. Up 21%.) Deploys low earth orbiting satellites. It provides low cost tracking. What was interesting is that they had done all of their capital expenditures and have the satellites in place. Now, it is just a case of maintaining them.


Price: $11.100
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Yes
2017-06-15 HOLD Pembina Pipeline Corp
PPL-T
Christine Poole

They bought VSN-T. She owns PPL-T.  She likes the acquisition as it gets them additional growth. Keep the PPL-T shares after the acquisitions. They offer an attractive dividend yield also.


Price: $43.270
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Yes
2017-06-15 COMMENT Power Share QQQQ ETF
QQQ-Q
Richard Croft

This is technology which took off in the 1st part of the year. It has had a great run, and in the last couple of days it was getting double hit on the downside. Designed as a short-term investment, and not a position he would hold for a long-term. Move out of it or reduce your exposure once you have got some of your profits. Think of it as a trading vehicle.


Price: $139.130
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Unknown
2017-06-15 DON'T BUY Restaurent Brands International
QSR-T
Christine Poole

They have done very well compared to the overall TSX.  They operate Tim Horton’s and Burger King.  She thinks it is overextended, even though they are very good operators.  You want to see how that international expansion takes hold.  She would not jump in here.


Price: $79.030
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Unknown
2017-06-15 PAST TOP PICK Royal Bank
RY-T
Christine Poole

(Top Pick Jun 14/16, Up 26%) One of the top three banks, which she owns.  There were hedge funds shorting them based on housing, but it has gone through that.  They have a diversified business.  It had increased its dividend earlier this year to around 3.8%.  Earnings will grow 7-8% this year and dividends should increase.


Price: $93.630
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Yes
2017-06-15 PARTIAL SELL Shopify Inc.
SHOP-T
Christine Poole

It is a growth stock, very well positioned, but it is a momentum stock and the valuation is too high for her.  She would not be buying it and might trim back if it is a big position.


Price: $113.570
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: No
2017-06-15 PAST TOP PICK Square Inc
SQ-N
Richard Croft

(A Top Pick May 10/16. Up 47%.) Sell: Square Sept 24 calls at $10.Sell: Square Sept 24 puts at $10. This was a Covered Straddle. He was trying to show what a straddle looks like. He was basically agreeing to sell the stock at $10 and buy more shares at $10. The stock was about $10, so the Put option expired. The Call would’ve been exercised and he would have been called away with a return of 47%.


Price: $23.990
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Yes
2017-06-15 TOP PICK iShares Barclays 20+ Yr Treas Bond
TLT-Q
Richard Croft

*Bear Call Spread* Thinks interest rates are going higher. If so, bond prices are going lower. This is the most liquid bond ETF in the US, and has very liquid options. He suggests the sale of December $126 Calls and Buying a December $133 Call. If the stock closes below $126 in December, both options will expire and you keep the net credit of about $2 a share.


Price: $126.100
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Yes
2017-06-15 COMMENT Vanguard Total Stock Market ETF
VTI-N
Richard Croft

A total market ETF, so you are getting every equity, small, big cap stocks. This will give you an over weighted position in the large caps. It is really, really diversified and he is not sure you need that much diversification.


Price: $125.330
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Unknown
2017-06-15 PAST TOP PICK Whirlpool Corp
WHR-N
Christine Poole

(Top Pick Jun 14/16, Up 15%) Number one appliance manufacturer in the world.  It is basically a replacement demand market, mostly from North America.  The average appliance is designed to last about 10 years.  There is a lot of room around the world to add appliances.


Price: $196.240
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Yes
2017-06-15 COMMENT SPDR Financial E.T.F.
XLF-N
Richard Croft

He is very positive on the banks. This gives you more diversification than owning the individual banks. If they make changes to the Dodd Franks, where they seem to be moving, that would be good. Also, higher interest rates are very good for banks. This is not a bad investment.


Price: $24.410
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Unknown
2017-06-15 TOP PICK Xylem Inc.
XYL-N
Christine Poole

They do treatment and transportation of water.  Only 1% of water in the world is drinkable.  They are building out water infrastructure in emerging markets and in North America the water infrastructure is very old.  (Analysts’ target: $55.00)


Price: $53.960
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on NORTH AMERICAN ECONOMY
Owned: Yes
2017-06-15 COMMENT BMO Global Infrastructure ETF
ZGI-T
Richard Croft

This is infrastructure and global. A lot of that ends up in being in energy, and there are some issues around that. On the other hand, the infrastructure area, particularly in the US, is probably not a bad bet.


Price: $36.860
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Unknown
2017-06-15 TOP PICK BMO US Put Write ETF.
ZPW-T
Richard Croft

This is a strategy where you are writing Put options against US securities. You are going to be penalized on collecting US dividends as it will be taxed as ordinary income. However, if you write a Put on the US stock, the dividend is implied in the Put. It is going to trigger to the US exchange fund as a capital gain. Has about a 7.2% yield.


Price: $19.035
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Yes
2017-06-15 COMMENT BMO US High Dividend Covered Call ETF
ZWH-T
Richard Croft

The High Dividend Covered Call means that the options on high dividend stocks are typically not very expensive, because the dividend tends to dampen the volatility of the underlying stock. Think of this as a tool where you are basically taking US stocks, collecting US currency risks, collecting dividends and collecting some Call premiums as well. Think of it as an income play. He would probably be more inclined to use the ZWB on Canadian banks, because he likes that sector.


Price: $20.730
Subject: OPTION STRATEGIES & E.T.F.S
Bias: BULLISH
Owned: Unknown
2017-06-14 N/A A Comment -- General Comments From an Expert
A Commentary
Bill Harris, CFA

Resources. After the Asian flu/Russian debt crisis in 1998, you also had the original Internet boom, and no one cared about resources. We are now at a point where we finally have legitimate good valuations. 5 years ago, we were playing defence because valuations were not there. We have now recovered from that and are now in an environment that we can get really excited about. Businesses are getting incrementally better and are throwing cash flow, and you don’t have to pay a lot for them. Resource stocks are “crazy” out of favour, which is great. 12-18 months from now, the supply stabilizes and demand keeps growing.


Price: $0.020
Subject: RESOURCE
Bias: UNKNOWN
Owned: _N/A
2017-06-14 N/A A Comment -- General Comments From an Expert
A Commentary
John O'Connell, CFA

Diversification for RESP’s for children? There are a number of different ways you can be diversified. This is a whole new millennium of technologically driven and aware people. Technology is changing the world, and we are in the early stages of a whole new evolution, so that when children are older, they won’t be typing into keyboards or computer screens, they will be talking to things and will be learning in different ways. For diversification, technology would be a good place to look. The most innovative companies in technology are the ones that have the biggest balance sheets and they are the strongest ones. Instagram is owned by Facebook (FB-Q), and is just in its early stages of its monetization strategies. Trading at a pretty reasonable valuation, but has a pretty strong balance sheet, and has a lot of room to grow. Its biggest competitor is Google (GOOGL-Q), which is sitting on tons of cash, very innovative, working on artificial intelligence, healthcare. These are big, big areas that are going to need a lot of improvement.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: _N/A
2017-06-14 TOP PICK Apple
AAPL-Q
John O'Connell, CFA

About to go through a huge, huge upgrade cycle. Trading at about 16X forward earnings, which he feels is too low. They continue to be very innovative. The company’s strength is also its weakness. Its biggest weakness right now is Siri and the artificial intelligence. It’s very advanced artificial intelligence, but its ability to learn through machine learning is being retarded by having a closed ecosystem. Dividend yield of 1.7%. (Analysts’ price target is $161.50.)


Price: $145.160
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-06-14 TOP PICK Altagas Ltd
ALA-T
Bill Harris, CFA

Planning a big US acquisition and will take on a lot of debt. The market seems worried that they can’t beat the index by owning this over the next 18 months. It looks like they should be able to do the acquisition. The dividend yield is 6.9%, which he gets up front. If he is trying to beat an index, this is not good, but if he is just trying to make money, this is fantastic. (Analysts’ price target is $35.)


Price: $30.050
Subject: RESOURCE
Bias: UNKNOWN
Owned: Yes
2017-06-14 TOP PICK Altagas Ltd
ALA-T
John O'Connell, CFA

Subscription Receipt. This is a regulated utility. They made a big acquisition in the US. They issued these subscription receipts which pays a 7% dividend. If the deal falls apart, you get your money back. If the deal doesn’t close in a year, you get $31 plus your 7% dividend yield.


Price: $30.050
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-06-14 BUY on WEAKNESS Amazon.com
AMZN-Q
John O'Connell, CFA

This is going to be very volatile, but it is going to keep going. A big player in retail. Their AWS division is growing rapidly and they are world leaders at that. The move into Cloud is still in its early stage. They haven’t begun to really monetize their ability to be able to advertise directly to the consumer. They haven’t moved into medicine and drug dispensary yet, and he would be surprised if they don’t. Amazon Prime is going to continue to grow. As people move more and more towards online and automatic replenishment shopping, their delivery process is going to get more robust. As that happens, their costs for delivery goes down. Buy this on dips.


Price: $976.470
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-06-14 COMMENT Alibaba Group Holding
BABA-N
John O'Connell, CFA

This has been a fantastic investment. On-line adoption in shopping and payment systems in China has a far higher adoption than it has in North America and Europe. In that respect, this company is very, very well positioned. If you want exposure to the Asian market, this is probably one of the best places to be. However, he doesn’t know if you are actually owning anything as a shareholder, and accounting issues are always difficult. He would rather you own companies with American domiciled positions.


Price: $136.670
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-06-14 COMMENT Baytex Energy Corp
BTE-T
Bill Harris, CFA

He doesn’t own this because of the level of debt, and he doesn’t know how volatile the stock is going to be. However, he owns the bonds which he bought at a discount. With the bonds, whether the company is solvent or insolvent, he is going to get paid back his bonds.


Price: $3.480
Subject: RESOURCE
Bias: UNKNOWN
Owned: No
2017-06-14 DON'T BUY Baytex Energy Corp
BTE-T
John O'Connell, CFA

Energy stocks in general are pretty bombed out. Nobody can drill oil profitably and recycle back enough money to support future growth at $55 oil. Doesn’t think you can look at this one as a stock, you have to look at it as an option. Anything under $60 and this company doesn’t survive. It has debt turned out to 2021. It has some assets that it is not an operator of, that they bought about 5 years ago. The longer oil trades below $60, the deeper this company’s troubles are.


Price: $3.480
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-06-14 PAST TOP PICK Celgene Corp
CELG-Q
John O'Connell, CFA

(A Top Pick July 6/16. Up 16%.) Biotechnology company involved in cancer drugs. 20% earnings growth. Trading at 14X earnings. Strong balance sheet. Still a buy.


Price: $121.040
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-06-14 COMMENT Cardinal Energy Ltd
CJ-T
Bill Harris, CFA

Has done a very good job, but probably need a slightly higher oil price to make the numbers work. They just completely blew the financing. When that happens and there is nothing particularly wrong with the company or the acquisition, it’s a “prove me” acquisition and you need a slightly higher oil price. This could go sideways for a bit or go lower.


Price: $4.870
Subject: RESOURCE
Bias: UNKNOWN
Owned: No
2017-06-14 TOP PICK Canadian Natural Rsrcs
CNQ-T
Bill Harris, CFA

As energy pulled off, he added to this in the last 48 hours. In a perfect world, he would have waited until it was in the low $30s. Likes the acquisition they’ve done. With the positive energy outlook, he thinks it will throw off fantastic amounts of money in a couple of year’s time. In this bad market, this is one he would add to. Dividend yield of 2.8%. (Analysts’ price target is $52.50.)


Price: $37.360
Subject: RESOURCE
Bias: UNKNOWN
Owned: Yes
2017-06-14 COMMENT Crescent Point Energy Corp
CPG-T
Bill Harris, CFA

Their execution over the past 12 months has not been great, and the stock market is not very patient. He is just coming around now to look at this, because it just might get too cheap. The impression is that their operating issues are fixable and they are fixing them, but you are not seeing it in the numbers yet.


Price: $11.170
Subject: RESOURCE
Bias: UNKNOWN
Owned: No
2017-06-14 COMMENT Cenovus Energy
CVE-T
Bill Harris, CFA

$8 billion in debt, and at this oil price, the numbers don’t work. Profitability doesn’t work. This year is $8 billion of debt and next year $9 billion and next year is $10 billion and profitability is not there. Oil has to go to $60, which is the problem. This is too volatile for him.


Price: $10.950
Subject: RESOURCE
Bias: UNKNOWN
Owned: No
2017-06-14 PAST TOP PICK Walt Disney
DIS-N
John O'Connell, CFA

(A Top Pick July 6/16. Up 9%.) A very, very well-run company. Firing on all cylinders except for ESPN. Consumer preferences have changed in the kinds of sports that they watch. Cord cutting has been hurting ESPN. As an investor, you have to look past today’s problems, and think in terms of what the potential solutions could be.


Price: $106.140
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
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