TorstarCorp (B) (TS.B.TO)

(Market Call Minute.) Just sold off one of their properties for $54 million. They have no debt and have money in the bank.

He used to own this before the Internet became more established. Management is great, but they have been dealt a very, very bad hand. The CEO is leaving, so there is change at the top. They made some investments in the Internet which did not pan out very well. A dangerous stock. The dividend has been cut twice now.

(Market Call Minute.) You just can’t go there. It is a deep discount value.

This is just a pure value pick. It’s not that he likes management or the industry. It has a market capitalization of about $120 million. There is net cash of about 60. There is an enterprise value of about $60-$70 billion. Dividend yield of 16.56%. Stupidly cheap.

Dividend of 16% alarms them. There is a risk that the other shoe will drop. It has been in a downtrend for some time with no signs of basing.

Has been a non-fan of this for years. The print side is dying. The ladies’ novel sort of died off as well. Very difficult to say anything positive about this company.

This is a tough business. Feels they have been making a lot of moves, but always at the wrong times. Made a huge acquisition last year. After selling Harlequin for a good chunk of change, they spent a lot of that money on a hodgepodge of websites. He is not keen on management and would not depend on the 16% dividend.

A classic value trap. It is cheap for a reason. The high dividend is really attractive and can suck you in. They are making an effort to adjust by restructuring and going digital. However, the institution is so large that he worries that they are going to go through all this work, turn around and adapt to what it is like today, but by the time they do that, the environment will have already changed.

15% yield. There is something wrong. It has been in free fall with no sign of turning around. A discontinuation of the highs going lower and the lows going lower would be a good signal. He sees no technical support nor a turnaround any time soon.

(Market Call Minute) A tough turnaround. Spent a lot of money on a digital media asset. Follow it and look for signs of cash flow coming back.

Used to own this and lost money. It is possible they may have to cut the dividend again. They have moved into digital, but it is not ramping up as well as they had hoped. Print Media is just getting killed. Highly risky.

(Market Call Minute.) The newspaper business is under a lot of pressure. This is a value stock that may never actually realize value. Unless they can transform their business from being about papers into something different it will continue being under a lot of pressure.

(A Top Pick March 9/15. Down 68.15%.) This is stupid cheap. $1.50 with $120 million market capitalization. Have well over $50 million in net cash. A year ago they were sitting on $300 million in cash and had a nice dividend yield. They spent $200 million in an acquisition that the market immediately discounted by about 50%. They are going digital which is good.

(A Top Pick March 9/15. Down 61.19%.) This was a value trap. They were sitting on $300 million in cash, probably worth about $6 a share. Trading less than the cash value. Spent $200 million on a web acquisition, that the street immediately discounted. There is consolidation going on in the sector.

It is not a growth market. It has been a disaster. Recently they took $200 million and put it into a web based business and he is not sure they know it that well and then the stock took a hit to the downside. There is some potential growth and there is not a lot of downside at $3. It is so cheap. They just need to do something right.