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CI Financial Corp (CIX-T)

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CI Financial Corp
CIX-T

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Signal	Opinion	Expert
DON'T BUY	CI Financial Corp(CIX-T) February 20, 2019 The sector's been difficult as a whole. Money flowing into ETFs, which puts pressure on fees and margins. No growth in the sector. She wouldn't pick any companies in the sector. investment companies/funds 0 0 0 0 0 0 comments	The sector's been difficult as a whole. Money flowing into ETFs, which puts pressure on fees and margins. No growth in the sector. She wouldn't pick any companies in the sector. investment companies/funds 0 0 0 0 0 0 comments Veronika Hirsch Chief Inve, Arrow Capital... Price $18.810 Owned No

WATCH	CI Financial Corp(CIX-T) January 15, 2019 He's watching it closely. Disclosure: A colleague of his sits on their board. A good business. CI can transition from mutual funds into private wealth management. They have a good cost structure. At $17, they're buying back lots of stock, but using debt to do so. They suffered a huge correction last year. But he's closely watching this as a serious buy. 4.1% dividend. investment companies/funds 0 0 0 0 0 0 comments	He's watching it closely. Disclosure: A colleague of his sits on their board. A good business. CI can transition from mutual funds into private wealth management. They have a good cost structure. At $17, they're buying back lots of stock, but using debt to do so. They suffered a huge correction last year. But he's closely watching this as a serious buy. 4.1% dividend. investment companies/funds 0 0 0 0 0 0 comments Ryan Bushell President, Newhaven Asset Manag... Price $17.600 Owned No
PAST TOP PICK	CI Financial Corp(CIX-T) November 28, 2018 (A Top Pick Aug 22/17, Down 26%) Pared back his holding. High 42% ROE, but the market doesn't see it as a growth stock; their Century acquisition was over-expensive. It's good that they're buying back shares. It's very cheap now, but has terrible price momentum. He needs to see a bottom with this stock. investment companies/funds 0 0 0 0 0 0 comments	(A Top Pick Aug 22/17, Down 26%) Pared back his holding. High 42% ROE, but the market doesn't see it as a growth stock; their Century acquisition was over-expensive. It's good that they're buying back shares. It's very cheap now, but has terrible price momentum. He needs to see a bottom with this stock. investment companies/funds 0 0 0 0 0 0 comments Jason Mann CIO & Co-F, Edgehill Patners... Price $19.720 Owned Yes
SELL	CI Financial Corp(CIX-T) October 18, 2018 Sold it around $21. Customers are moving from Mutual Funds to ETFs. This is affecting them. The fact that the Canadian Market hasn’t done so well it also affected them as they are not as global in nature. (Analysts’ price target is $24.88) investment companies/funds 0 0 0 0 0 0 comments	Sold it around $21. Customers are moving from Mutual Funds to ETFs. This is affecting them. The fact that the Canadian Market hasn’t done so well it also affected them as they are not as global in nature. (Analysts’ price target is $24.88) investment companies/funds 0 0 0 0 0 0 comments Bruce Murray CEO & Chie, The Murray Wealth Gr... Price $18.750 Owned No
HOLD	CI Financial Corp(CIX-T) September 28, 2018 Cut dividend and guidance as to when elevated outflows will stop. Payout ratio is fine at 30%. Buying back stock instead. He’s modelling that assets under management will stabilize back to 2017 levels. At 8.1x 2019 earnings, really cheap. Some performance issues. Worth holding if you own it. Write a put on it. investment companies/funds 0 0 0 0 0 0 comments	Cut dividend and guidance as to when elevated outflows will stop. Payout ratio is fine at 30%. Buying back stock instead. He’s modelling that assets under management will stabilize back to 2017 levels. At 8.1x 2019 earnings, really cheap. Some performance issues. Worth holding if you own it. Write a put on it. investment companies/funds 0 0 0 0 0 0 comments Greg Newman Director &, Scotia Wealth Manage... Price $20.510 Owned Unknown
DON'T BUY	CI Financial Corp(CIX-T) September 13, 2018 It's really struggled this year. A problem for all asset managers is an ongoing price war led by the banks. As a result, CI has had to cut fees, but also halved their dividend (last month). Also, their key funds are underperforming. The organic growth is gone. This is a value trap. Avoid. investment companies/funds 0 0 0 0 0 0 comments	It's really struggled this year. A problem for all asset managers is an ongoing price war led by the banks. As a result, CI has had to cut fees, but also halved their dividend (last month). Also, their key funds are underperforming. The organic growth is gone. This is a value trap. Avoid. investment companies/funds 0 0 0 0 0 0 comments Brian Madden Senior VP , Goodreid Investment ... Price $20.500 Owned No
HOLD	CI Financial Corp(CIX-T) September 10, 2018 It is a well run company that has done a phenomenal job. They are facing a lot of pressure in terms of fees and how to grow when they are already so big. They are in a bit of a no-man's land. They cut their dividend to buy back shares. It sends the wrong message to some investors. investment companies/funds 0 0 0 0 0 0 comments	It is a well run company that has done a phenomenal job. They are facing a lot of pressure in terms of fees and how to grow when they are already so big. They are in a bit of a no-man's land. They cut their dividend to buy back shares. It sends the wrong message to some investors. investment companies/funds 0 0 0 0 0 0 comments Gerard Ferguson CEO & Port, Jemekk Capital Manag... Price $20.580 Owned Unknown
HOLD	CI Financial Corp(CIX-T) July 26, 2018 Cheap stock. 6% dividend yield with a 55% payout ratio. They had poor performance. Management if guiding at more outflows. Regulatory concerns have proved to turn out better than many people thought. It is not going to do the heavy lifting for your portfolio but getting your dividend you will be OK. investment companies/funds 0 0 0 0 0 0 comments	Cheap stock. 6% dividend yield with a 55% payout ratio. They had poor performance. Management if guiding at more outflows. Regulatory concerns have proved to turn out better than many people thought. It is not going to do the heavy lifting for your portfolio but getting your dividend you will be OK. investment companies/funds 0 0 0 0 0 0 comments Greg Newman Director &, Scotia Wealth Manage... Price $23.100 Owned No
HOLD	CI Financial Corp(CIX-T) July 23, 2018 It is a mutual fund company, one of the most successful. It suffered recently as have others with concerns of pressure from ETFs and regulation changes. The dividend is probably stable and safe. investment companies/funds 0 0 0 0 0 0 comments	It is a mutual fund company, one of the most successful. It suffered recently as have others with concerns of pressure from ETFs and regulation changes. The dividend is probably stable and safe. investment companies/funds 0 0 0 0 0 0 comments Colin Stewart CEO & Port, JC Clark Investments... Price $23.160 Owned Unknown
DON'T BUY	CI Financial Corp(CIX-T) July 18, 2018 He owns this personally. It's a portfolio manager, not insurance. They've stumbled a bit after buying some new assets. The Century deal is probably clearing. The yield is probably safe. But it's disappointed. It was $38 five years ago and been on a tobboggan run ever since. investment companies/funds 0 0 0 0 0 0 comments	He owns this personally. It's a portfolio manager, not insurance. They've stumbled a bit after buying some new assets. The Century deal is probably clearing. The yield is probably safe. But it's disappointed. It was $38 five years ago and been on a tobboggan run ever since. investment companies/funds 0 0 0 0 0 0 comments Rick Stuchberry Portfolio , Wellington-Altus Pri... Price $23.840 Owned Yes
HOLD	CI Financial Corp(CIX-T) July 6, 2018 This is another high-quality dividend-paying stock that has been hurt this year. They’ve had some net redemptions, but the selloff is overdone relative to that. From a valuation perspective, this is in the top 10% and it is a very stable stock. This is a great consolidator. However, active management has been declining relative to passive investment. There are no debt problems. He is happy to own it here but the negative price momentum stops him from recommending it for new money. investment companies/funds 0 0 0 0 0 0 comments	This is another high-quality dividend-paying stock that has been hurt this year. They’ve had some net redemptions, but the selloff is overdone relative to that. From a valuation perspective, this is in the top 10% and it is a very stable stock. This is a great consolidator. However, active management has been declining relative to passive investment. There are no debt problems. He is happy to own it here but the negative price momentum stops him from recommending it for new money. investment companies/funds 0 0 0 0 0 0 comments Jason Mann CIO & Co-F, Edgehill Patners... Price $23.640 Owned Yes
DON'T BUY	CI Financial Corp(CIX-T) June 28, 2018 Great company. They have been the quality act in the funds business. He has a soft spot for them as they were the very first client when he started in business in 1993. ETFs are putting them under pressure. Fees are coming down. It is not a growth business anymore. Their writing is a little bit on the wall for them. investment companies/funds 0 0 0 0 0 0 comments	Great company. They have been the quality act in the funds business. He has a soft spot for them as they were the very first client when he started in business in 1993. ETFs are putting them under pressure. Fees are coming down. It is not a growth business anymore. Their writing is a little bit on the wall for them. investment companies/funds 0 0 0 0 0 0 comments John Zechner Chairman, J. Zechner & Assoc... Price $23.590 Owned No
COMMENT	CI Financial Corp(CIX-T) December 19, 2017 They are in a tough industry being in mutual funds and trying to transition out. Saw a big decline from 2015 until 2016 and now we’ve just moved sideways when they should have been moving up. We are in seasonal period and financial companies tends to get strong at this time of the year. From a seasonal perspective, look at April to be getting out if you’re in it. He doesn’t see an exciting opportunity here. If they break above the $30 level that might actually be a good thing. Technically it’s looking OK despite being flat for most of the year. investment companies/funds 0 0 0 0 0 0 comments	They are in a tough industry being in mutual funds and trying to transition out. Saw a big decline from 2015 until 2016 and now we’ve just moved sideways when they should have been moving up. We are in seasonal period and financial companies tends to get strong at this time of the year. From a seasonal perspective, look at April to be getting out if you’re in it. He doesn’t see an exciting opportunity here. If they break above the $30 level that might actually be a good thing. Technically it’s looking OK despite being flat for most of the year. investment companies/funds 0 0 0 0 0 0 comments Brooke Thackray Research A, Horizons ETFs (Canad... Price $29.510 Owned Unknown
COMMENT	CI Financial Corp(CIX-T) December 6, 2017 Sell this and buy Shaw Communications (SJR.B-T) or BCE (BCE-T)? He likes all 3. It really comes down to your portfolio and what else you own. These are 3 very different businesses. BCE is the most boring name and is the “Steady Eddie”. You’re getting a dividend of about 4.7%, and the stock is up about 6% this year giving you a 10% return. He would steer you more towards BCE. investment companies/funds 0 0 0 0 0 0 comments	Sell this and buy Shaw Communications (SJR.B-T) or BCE (BCE-T)? He likes all 3. It really comes down to your portfolio and what else you own. These are 3 very different businesses. BCE is the most boring name and is the “Steady Eddie”. You’re getting a dividend of about 4.7%, and the stock is up about 6% this year giving you a 10% return. He would steer you more towards BCE. investment companies/funds 0 0 0 0 0 0 comments Kash Pashootan CEO & Chie, First Avenue Investm... Price $28.680 Owned Unknown
PAST TOP PICK	CI Financial Corp(CIX-T) November 24, 2017 (A Top Pick Sept 15/16. Down 22%.) Short He is still Short. The return represents the worst snapshot possible, but as he has held this for a long time, he is still profitable. Wealth management and mutual fund space in general has been a very tough spot. Feels the stock is still expensive. investment companies/funds 0 0 0 0 0 0 comments	(A Top Pick Sept 15/16. Down 22%.) Short He is still Short. The return represents the worst snapshot possible, but as he has held this for a long time, he is still profitable. Wealth management and mutual fund space in general has been a very tough spot. Feels the stock is still expensive. investment companies/funds 0 0 0 0 0 0 comments Daniel Lloyd Portfolio , Forge First Asset Ma... Price $28.680 Owned Yes

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