Power Financial Corp (PWF.TO)

(Market Call Minute.)

National Bank (NA-T) or Power Financial (PWF-T)? This is a good company with a good record of increasing dividends. It is more diversified with insurance and a mutual fund business, and is the one he would prefer.

A good one to hold onto for the long-term. The stock hasn’t done a lot, and a lot of people say it is undervalued. As there is more consolidation in the asset management space, hopefully this will be able to participate, which could lead to accretive deals.

A great business and you can’t say anything bad about it. An iconic company for years. They own Great West, IGM Financial (IGM-T), Mackenzie. He doesn’t want to own all of those companies, he just wants to own great West (GWO-T) out of that bucket. Thinks IGM is going to be very challenged going forward.

He does not expect a lot of upside, but extremely stable, predictable dividends in his income portfolio. Mid to low $30 resistance where it will hang out for a while. Sit on it for a while.

(A Top Pick May 22/15. Down 9.19%.) He still owns some, but has lightened up. He is not worried about the insurance. Great West (GWO-T) is all right, it’s the mutual fund side. Believes ETF’s are going to be completely destructive of the mutual fund industry, because they are so much cheaper, and selection is so much better.

A very solid company and very well-run. There may be some issues on greater transparency around fees, but that is going to hit all mutual funds. Investors may be less affected because this is primarily a savings organization.

A solid Canadian company paying a pretty good dividend yield with good management. Their business is predictable and sustainable with no pending regulatory changes. A good Hold for income oriented investors.

(Market Call Minute.) She would buy this here. There is no near term catalyst, but it is trading at a wide discount to its NAV.

This is really an umbrella of other businesses. Feels the 5.5% dividend is safe. There are multiple revenue streams, so not only is the dividend safe, but there is some potential for modest dividend growth. This is what has been attracting some of the capital into the name. He is skeptical on where future growth is going to come from. McKenzie is in this umbrella, and mutual funds are going to be under a lot of pressure with the CRM tool that is rolling out, which will allow retail investors to fully understand what they are paying in fees. For share price appreciation, there are probably better places.

A holding company with Great West Life, Mackenzie and Power Financial. It is always going to trade at a discount to NAV, because it is a holding company. Incredibly well run, however you could own the underlying securities and probably do better.

(Top Pick April 23/15, Down 9.61%) The same factors are present today that existed when it was recommended.

(Top Pick Apr 17/15, Down 7.45%) Great West Life, IGM and European investments. What is needed is higher interest rates to invest premiums in. He is keeping it. It goes up and down along with their assets. He likes the long term outlook for the insurance business when rates start to go up. He likes IGM and the European assets that he thinks are undervalued. They have gone back to raising their dividend on a regular basis.

You can buy it and put it away and not worry about it, but with the pullback in the market there are places he would prefer to put capital. It is financial focused. He would break up the capital you want to allocate to financials if you want to buy this. He does not see major earnings growth, but you could argue that the share price is going to go back up again. It is a matter of time before cash comes back into this space.

(A Top Pick Nov 26/14. Down 9.31%.) He is not unhappy with this. Its one you can own through a long market cycle. They own some good businesses. If you own, continue to Hold.