TSE:MFC

Manulife Financial (MFC.TO)

61.86
+0.36 (0.59%)
as of Sep 25, 2026, 6:20:27 pm Market Open.
1632 watching
0
COMMENT
Decent earnings report on Nov 4, which beat estimates by a large degree. Starting to see earnings momentum turn a bit but is still below its 200-day moving average and would be a strong consideration if it rose above that.
TOP PICK
Manulife Bonds: 7.405% 12/31/2019 They have gone through the worst. This bonds represents good value on the yield curve.
BUY
Like a warrant on the market. Recovered nicely Sept –Oct and then really got a boost when it announced its 3rd quarter earnings, Still somewhat speculative as they still have a large portion of their book unhedged.
PAST TOP PICK
(A Top Pick Dec 7/09. Down 15%.) Looks like it’s bottomed.
COMMENT
On his Watch list. Was kicking the tires a few months ago. As interest rates go up it should go up because of the mark to market and should also go up as stocks go up. Would prefer it lower down.
PAST TOP PICK
(A Top Pick Oct 22/09. Down 29.88%.) Sold most of his holdings in this. Fully valued.
DON'T BUY
His view has not changed. It went up with equity markets plus Gov’t has not made it as onerous for them to show their hedging and risk level on their balance sheet. A debt-rating agency downgraded them recently by two notches. There was less bad news than expected. The fundamentals that bother him have not changed.
BUY
Thinks sentiment has turned on it. Model price above $22. Is waiting for the Sept 30 balance sheet. Owns 2.5% position and would be a buyer. If market was to turn down or investors sniffed a recession, this stock would turn down.
PAST TOP PICK
(Top Pick Nov 30/09, Down 21.63%) Sold it after he did the top pick last year.
COMMENT
The worst is over. Even though they made such a big loss. If you buy today, you are making a bet that interest rates AND especially the stock market are going to go higher. Interest rates – how much lower can they go? They are looking at being fully hedged by 2015. Balance sheet is in much better shape. He thinks they will be going on with $1.50 in earnings being normal.
DON'T BUY
He would just as soon stay away from it, but some day it will be a screaming buy.
DON'T BUY
If they turn it around, it probably will be a good investment. Not hedging variable annuity products was an unforgivable mistake. He owns Allstate.
DON'T BUY
Banks have a similar seasonal aspect. We are in their season. With MFC you are playing the equity markets. Interest rates going down also hurt them. If equity markets start picking up again you might see MFC get some life back into it. But they have to keep adjusting their reserves. Not his favourite stock. Early ’09 may not be the bottom. It could scrape along the bottom for a bit longer.
COMMENT
You might have to wait 3 years on this one. Doesn't expect there will be any further harm. The general market should recover for them and hopefully they won't make the same mistakes they have in the past.
SELL
Some events in the last couple of years were a surprise to shareholders so predictability came out of the stock. Investment portfolio ended up under water. June quarter closed out at the low of the market, so took a hit. On this one you miss growth and the interest rate picture. (He is Short this stock.)
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