Opinions by Norman Levine | StockChase
4394
Norman Levine

Managing Director

ON STOCKCHASE SINCE Feb 2001

Portfolio Management Corp

http://www.portfoliomanagement.ca/welcome.html

4394
Norman Levine

Managing Director

ON STOCKCHASE SINCE Feb 2001

Portfolio Management Corp

http://www.portfoliomanagement.ca/welcome.html


Opinions by Norman Levine


Signal Opinion Expert Chart
N/A
General Market Comment 

November 22, 2017

Market. The TSX 10-year chart shows it breaking into highs which were reached before the financial crisis, which is pretty sad. The TSX index is the worst major Index in the world. It is dominated by resource and financials. Normally, a country’s stock index should reflect the economy of a country. Because so many of our large companies are foreign owned or privately owned, ours does not reflect that at all. In the US and in most countries, their main index better reflects their economies. He would never own a Canadian Index product. Most indexes are market cap weighted, so that as a stock goes up in value its percentage in that index keeps going up. There is an index you can buy called an equal weight index, where all stocks are weighted equally. It better reflects what is really going on in markets.

Market. The TSX 10-year chart shows it breaking into highs which were reached before the financial crisis, which is pretty sad. The TSX index is the worst major Index in the world. It is dominated by resource and financials. Normally, a country’s stock index should reflect the economy of a country. Because so many of our large companies are foreign owned or privately owned, ours does not reflect that at all. In the US and in most countries, their main index better reflects their economies. He would never own a Canadian Index product. Most indexes are market cap weighted, so that as a stock goes up in value its percentage in that index keeps going up. There is an index you can buy called an equal weight index, where all stocks are weighted equally. It better reflects what is really going on in markets.

Unknown
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$0.020
Owned Owned
_N/A

Must be logged in to use chart
PAST TOP PICK
Arc Resources Ltd(ARX-T) 

November 22, 2017

(A Top Pick Dec 28/16. Down 30%.) In hindsight, this had been a mistake. The company has an excellent balance sheet, great management, is mostly natural gas in the Montney area. He was optimistic on the price of natural gas. His mistake was buying a Canadian natural gas stock rather than a US natural gas stock. The Henry hub price for natural gas has gone up significantly since last year. Unfortunately, most of the Canadian natural gas does not get priced at Henry hub, they get AECO which is priced off of Alberta, and that price has collapsed.

oil/gas

(A Top Pick Dec 28/16. Down 30%.) In hindsight, this had been a mistake. The company has an excellent balance sheet, great management, is mostly natural gas in the Montney area. He was optimistic on the price of natural gas. His mistake was buying a Canadian natural gas stock rather than a US natural gas stock. The Henry hub price for natural gas has gone up significantly since last year. Unfortunately, most of the Canadian natural gas does not get priced at Henry hub, they get AECO which is priced off of Alberta, and that price has collapsed.

oil/gas
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$15.770
Owned Owned
Yes

Must be logged in to use chart
BUY
Badger Daylighting(BAD-T) 

November 22, 2017

The company has most of its earnings outside of the oil patch now, and most of its revenues outside of Canada. It is by far the largest hydro-vac company in North America. It has attracted the attention of a major short-seller, who has damaged the stock. The Short is zeroing in on what their 0-30 day receivables are, which is an irrelevant number. A good company and is showing excellent growth. He is still buying for new clients.

oil/gas

The company has most of its earnings outside of the oil patch now, and most of its revenues outside of Canada. It is by far the largest hydro-vac company in North America. It has attracted the attention of a major short-seller, who has damaged the stock. The Short is zeroing in on what their 0-30 day receivables are, which is an irrelevant number. A good company and is showing excellent growth. He is still buying for new clients.

oil/gas
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$28.180
Owned Owned
Yes

Must be logged in to use chart
BUY
BCE Inc.(BCE-T) 

November 22, 2017

Owns because of its steady growth in income. It steadily grows its dividend every year. It’s not exciting and you’re not going to get rich, but you are not going to get killed either. Like other utilities, it is very interest rate sensitive. If interest rates are going down, these types of stocks tend to do really well. It is a bond alternative. Should be a part of everybody’s portfolio. Dividend yield of 4.7%.

telephone utilities

Owns because of its steady growth in income. It steadily grows its dividend every year. It’s not exciting and you’re not going to get rich, but you are not going to get killed either. Like other utilities, it is very interest rate sensitive. If interest rates are going down, these types of stocks tend to do really well. It is a bond alternative. Should be a part of everybody’s portfolio. Dividend yield of 4.7%.

telephone utilities
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$61.560
Owned Owned
Yes

Must be logged in to use chart
TOP PICK
Cara Operations Ltd.(CARA-T) 

November 22, 2017

The largest restaurant chain in Canada, and have grown quite a bit by acquisition. The stock went public and it was a market darling until it got overpriced. Then with the downturn in Alberta, oil prices started to tumble and people stopped going, so same-store sales took a big hit. That is now starting to stabilize. They’ve made some acquisitions which have diversified them. Valuation is very reasonable. Dividend yield of 1.6%. (Analysts’ price target is $26.)

food services

The largest restaurant chain in Canada, and have grown quite a bit by acquisition. The stock went public and it was a market darling until it got overpriced. Then with the downturn in Alberta, oil prices started to tumble and people stopped going, so same-store sales took a big hit. That is now starting to stabilize. They’ve made some acquisitions which have diversified them. Valuation is very reasonable. Dividend yield of 1.6%. (Analysts’ price target is $26.)

food services
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$24.630
Owned Owned
Yes

Must be logged in to use chart
HOLD

A great company and very well-managed. A consolidator of software companies, and their strategy continues to work. (See Top Picks.)

computer software/processing

A great company and very well-managed. A consolidator of software companies, and their strategy continues to work. (See Top Picks.)

computer software/processing
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$760.470
Owned Owned
No

Must be logged in to use chart
HOLD
Callaway Golf(ELY-N) 

November 22, 2017

Sold his holdings about a year ago, because it had gone from “turnaround” to “good profits”, and had thought that in the near term its profitability had probably gotten ahead of itself. However, the CEO has continued to deliver great results. They are the leading company in the industry.

Consumer Products

Sold his holdings about a year ago, because it had gone from “turnaround” to “good profits”, and had thought that in the near term its profitability had probably gotten ahead of itself. However, the CEO has continued to deliver great results. They are the leading company in the industry.

Consumer Products
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$14.340
Owned Owned
No

Must be logged in to use chart
COMMENT
Emera Inc(EMA-T) 

November 22, 2017

Long-term hold? Canada has a number of Public utility companies, and a couple of them, such as this one and Fortis (FTS-T), are what he would call growth utility companies, where they don’t just stick to the market they are in, but are active acquirers and growers in other geographies, mostly in the US. He looks at this as being the leading Canadian growth utility company, and sees them continuing to grow their earnings in Canada, and more so outside Canada. Interest rate sensitive, so if interest rates go down, the stock does better. For a long-term investor, companies like this should be a part of your portfolio.

mngmnt/diversified

Long-term hold? Canada has a number of Public utility companies, and a couple of them, such as this one and Fortis (FTS-T), are what he would call growth utility companies, where they don’t just stick to the market they are in, but are active acquirers and growers in other geographies, mostly in the US. He looks at this as being the leading Canadian growth utility company, and sees them continuing to grow their earnings in Canada, and more so outside Canada. Interest rate sensitive, so if interest rates go down, the stock does better. For a long-term investor, companies like this should be a part of your portfolio.

mngmnt/diversified
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$48.420
Owned Owned
Unknown

Must be logged in to use chart
COMMENT
Enbridge(ENB-T) 

November 22, 2017

Has been a poorer performer this year, down about 20% or so. It comes on the heels of making a large acquisition. Up until this year, this was largely an oil based pipeline company. They bought Spectra Energy which diversified them much more into natural gas pipelines. Took on a lot of debt doing it. He doesn’t believe the dividend is in jeopardy, but it is now a “show me” stock. They are having an investor day in a few weeks, where he hopes there will be more information. Yields about 5.5%, the highest yield it has ever had. Believes the dividend is safe. If you are a value investor, you are buying a great company with growing and excellent income at a good price.

oil/gas pipelines

Has been a poorer performer this year, down about 20% or so. It comes on the heels of making a large acquisition. Up until this year, this was largely an oil based pipeline company. They bought Spectra Energy which diversified them much more into natural gas pipelines. Took on a lot of debt doing it. He doesn’t believe the dividend is in jeopardy, but it is now a “show me” stock. They are having an investor day in a few weeks, where he hopes there will be more information. Yields about 5.5%, the highest yield it has ever had. Believes the dividend is safe. If you are a value investor, you are buying a great company with growing and excellent income at a good price.

oil/gas pipelines
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$47.010
Owned Owned
Yes

Must be logged in to use chart
COMMENT

To him a highly speculative investment, but has some very high-quality companies that have been market leaders in what they do. These are momentum stocks, and this is not his style.

E.T.F.'s

To him a highly speculative investment, but has some very high-quality companies that have been market leaders in what they do. These are momentum stocks, and this is not his style.

E.T.F.'s
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$23.340
Owned Owned
No

Must be logged in to use chart
BUY
General Electric(GE-N) 

November 22, 2017

Recently sold this from his taxable accounts for tax loss, with the intention of buying it back after 30 days. A new CEO has come in and the market was disappointed, but he doesn’t know what they were expecting. You want a CEO to “under promise” and “over deliver”. Investors are looking for a CEO who will “overpromise” and “hopes he delivers”, which is not realistic. He isn’t upset that the CEO is under promising to start with. Thinks it is going to take 2 to 3 years for the new CEO to prove himself. His new clients are buying this.

electrical/electronic

Recently sold this from his taxable accounts for tax loss, with the intention of buying it back after 30 days. A new CEO has come in and the market was disappointed, but he doesn’t know what they were expecting. You want a CEO to “under promise” and “over deliver”. Investors are looking for a CEO who will “overpromise” and “hopes he delivers”, which is not realistic. He isn’t upset that the CEO is under promising to start with. Thinks it is going to take 2 to 3 years for the new CEO to prove himself. His new clients are buying this.

electrical/electronic
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$18.150
Owned Owned
Yes

Must be logged in to use chart
HOLD
Magna Int'l. (A)(MG-T) 

November 22, 2017

Doesn’t own any auto stocks, but if he were going to own one, it would be this. Very well run and the market leader. Auto sales in the US have plateaued for now, but have plateaued at a high rate. European auto sales are growing. The NAFTA worries are overhanging the prices of Canadian autos, but if you are an investor, it’s a decent buy here.

Automotive

Doesn’t own any auto stocks, but if he were going to own one, it would be this. Very well run and the market leader. Auto sales in the US have plateaued for now, but have plateaued at a high rate. European auto sales are growing. The NAFTA worries are overhanging the prices of Canadian autos, but if you are an investor, it’s a decent buy here.

Automotive
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$69.010
Owned Owned
No

Must be logged in to use chart
HOLD
National Bank of Canada(NA-T) 

November 22, 2017

Almost a pure Canadian play. Being a pure Canadian play, people worry about what their exposure is to high debt levels that people have run up in housing. Being mostly a Québec based bank, this bank hasn’t had the same exposure to the housing market in Toronto and Vancouver. Compared to other banks, it has more of a capital exposure, and has done well at that. This is fine to own.

banks

Almost a pure Canadian play. Being a pure Canadian play, people worry about what their exposure is to high debt levels that people have run up in housing. Being mostly a Québec based bank, this bank hasn’t had the same exposure to the housing market in Toronto and Vancouver. Compared to other banks, it has more of a capital exposure, and has done well at that. This is fine to own.

banks
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$63.250
Owned Owned
No

Must be logged in to use chart
TOP PICK
Open Text(OTEX-T) 

November 22, 2017

A market consolidator in business software, helping large businesses organize information, storing it and retrieving it. Their acquisition policy is buying up competitors. Did a couple of acquisitions earlier this year, and the market is waiting to see how those work out. Dividend yield of 1.6%. (Analysts’ price target is $40.)

computer software/processing

A market consolidator in business software, helping large businesses organize information, storing it and retrieving it. Their acquisition policy is buying up competitors. Did a couple of acquisitions earlier this year, and the market is waiting to see how those work out. Dividend yield of 1.6%. (Analysts’ price target is $40.)

computer software/processing
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$41.950
Owned Owned
Yes

Must be logged in to use chart
PAST TOP PICK
Pfizer Inc(PFE-N) 

November 22, 2017

(A Top Pick Dec 28/16. Up 14%.) This has given him decent earnings along the way and they have raised the dividend along the way. A good company and a good story to keep. They are investigating whether they are going to split the company in 2.

biotechnology/pharmaceutical

(A Top Pick Dec 28/16. Up 14%.) This has given him decent earnings along the way and they have raised the dividend along the way. A good company and a good story to keep. They are investigating whether they are going to split the company in 2.

biotechnology/pharmaceutical
Norman Levine

Managing Director, Portfolio Management...

PricePrice
$35.430
Owned Owned
Yes

Must be logged in to use chart
Showing 1 to 15 of 4,394 entries
<< < 1 2 3 4 5 > >>

No Comments.


You must be logged in to comment.

Successfully Saved Company