Stock Opinions by Benj Gallander - Stockchase Experts
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Benj Gallander @

On Stockchase since : Apr 2002

President at Contra the Heard Investment Letter

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Stock Opinions by Benj Gallander - Stockchase Experts

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COMMENT
General Market Comment 

February 19, 2019

Buying the dips can work to degree, but generally he's not a fan of dollar-cost averaging. He buys stocks when stocks or the markets are way out of favour. In December, he bought a few stocks--it was not cheap, but cheaper than usual. Governments around the world are in bad shape, like Italy and Canada, because they carry a lot of debt. When the recession comes, those governments have little ammunition. Governments should have been paying down their debts. There are difficult days ahead. SNC is too expensive and the fall-out will continue, though he considers the fall-out overblown. It's still a great Canadian corporation.
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Buying the dips can work to degree, but generally he's not a fan of dollar-cost averaging. He buys stocks when stocks or the markets are way out of favour. In December, he bought a few stocks--it was not cheap, but cheaper than usual. Governments around the world are in bad shape, like Italy and Canada, because they carry a lot of debt. When the recession comes, those governments have little ammunition. Governments should have been paying down their debts. There are difficult days ahead. SNC is too expensive and the fall-out will continue, though he considers the fall-out overblown. It's still a great Canadian corporation.
Unknown
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.000
Owned Owned
Unknown

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BUY on WEAKNESS
Could Brick be a takeover candidate? He doubts it. It's a beautiful play and beautiful company. The CEO ran another company that got taken out; when this happens there's a better chance for the current company to get taken out. But he doubts that BRB will get taken out. Would a Molsons or Coors get rid of some of their competition this way. BRB's revenues will probably be north of $50 milllion this year; revenues last quarter went up nicely. They're looking to get into cannabis beverages like their peers. He really likes it, though wouldn't buy it at these levels. He bought it at 25-cents and sold it at $3.99.
breweries/beverages
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Could Brick be a takeover candidate? He doubts it. It's a beautiful play and beautiful company. The CEO ran another company that got taken out; when this happens there's a better chance for the current company to get taken out. But he doubts that BRB will get taken out. Would a Molsons or Coors get rid of some of their competition this way. BRB's revenues will probably be north of $50 milllion this year; revenues last quarter went up nicely. They're looking to get into cannabis beverages like their peers. He really likes it, though wouldn't buy it at these levels. He bought it at 25-cents and sold it at $3.99.
breweries/beverages
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$3.800
Owned Owned
No

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BUY
Extendicare Inc(EXE-T) 

February 19, 2019

He bought it years ago. Pays 4-cents each month in dividends. He's doubled-down and averaged down. It doesn't have the normal upside for him, but it's a fine demographic play. People are getting older. He sees 50-100% upside. Safe to buy more here, but he wants them to pay down its debt more.
other services
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He bought it years ago. Pays 4-cents each month in dividends. He's doubled-down and averaged down. It doesn't have the normal upside for him, but it's a fine demographic play. People are getting older. He sees 50-100% upside. Safe to buy more here, but he wants them to pay down its debt more.
other services
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$7.490
Owned Owned
Yes

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BUY
Horizon North Logistics(HNL-T) 

February 19, 2019

Horizon North Logistics vs. Black Diamond Had both on his watch list. In December he bought BDI after talking to management and following the company for a long time. BDI: Smart management who have paid down a lot of their debt. Well-positioned in mobile homes for oil/gas industry and other applications. Tremendous upside. HNL is also good, but he prefers BDI.
oil pipelines
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Horizon North Logistics vs. Black Diamond Had both on his watch list. In December he bought BDI after talking to management and following the company for a long time. BDI: Smart management who have paid down a lot of their debt. Well-positioned in mobile homes for oil/gas industry and other applications. Tremendous upside. HNL is also good, but he prefers BDI.
oil pipelines
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$1.910
Owned Owned
Yes

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BUY
Black Diamond Group(BDI-T) 

February 19, 2019

HNL vs. BDI Had both on his watch list. In December he bought BDI after talking to management and following the company for a long time. BDI: Smart management who have paid down a lot of their debt. Well-positioned in mobile homes for oil/gas industry and other applications. Tremendous upside. HNL is also good, but he prefers BDI.
other services
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HNL vs. BDI Had both on his watch list. In December he bought BDI after talking to management and following the company for a long time. BDI: Smart management who have paid down a lot of their debt. Well-positioned in mobile homes for oil/gas industry and other applications. Tremendous upside. HNL is also good, but he prefers BDI.
other services
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$2.050
Owned Owned
No

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HOLD
Obsidian Energy(OBE-T) 

February 19, 2019

A takeover candidate? He was wrong with this. He recently moved it from a buy to a hold. It's high-risk and high-reward, has "danger" written across it. He likes the idea of a takeover, but doesn't know if it'll happen. This could be a good play in oil/gas with a lot of potential. He hasn't sold it, but at the same bankruptcy remains a real possibility.
oil/gas
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A takeover candidate? He was wrong with this. He recently moved it from a buy to a hold. It's high-risk and high-reward, has "danger" written across it. He likes the idea of a takeover, but doesn't know if it'll happen. This could be a good play in oil/gas with a lot of potential. He hasn't sold it, but at the same bankruptcy remains a real possibility.
oil/gas
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.500
Owned Owned
Yes

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COMMENT
General Market Comment 

February 19, 2019

You would average down, but would you ever break your rule and average up? Averaging up, no. If I can buy a stock at a particular price, why would I pay more? Even if the reward behind a stock has increase dramatically, he still won't. No. He stays within his discipline. Secondly, he would average down ONCE, not twice. He learned from past mistakes when averaged down three times on a stock and got wiped out for a lot of money. Overall, he's had a lot of success averaging down.
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You would average down, but would you ever break your rule and average up? Averaging up, no. If I can buy a stock at a particular price, why would I pay more? Even if the reward behind a stock has increase dramatically, he still won't. No. He stays within his discipline. Secondly, he would average down ONCE, not twice. He learned from past mistakes when averaged down three times on a stock and got wiped out for a lot of money. Overall, he's had a lot of success averaging down.
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.000
Owned Owned
Unknown

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DON'T BUY
Royal Nickel Corp (RNX-T) 

February 19, 2019

Once in a while they have a big run. He hasn't look at this in years, but he feels this doesn't gain traction for very long. If you do buy, determine an exit level (selling price), because it never seems to go up and stay up.
Mining
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Once in a while they have a big run. He hasn't look at this in years, but he feels this doesn't gain traction for very long. If you do buy, determine an exit level (selling price), because it never seems to go up and stay up.
Mining
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.720
Owned Owned
No

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BUY on WEAKNESS
Laurentian Bank(LB-T) 

February 19, 2019

If he was going to buy a bank it would be this. He's seeking dividend companies. He bought it in December at $39.56 with a 6.6% dividend. It has a good chance of rising above $50 again. Since then, he has bought more. But he wouldn't buy--or sell--it at today's price, though.
banks
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If he was going to buy a bank it would be this. He's seeking dividend companies. He bought it in December at $39.56 with a 6.6% dividend. It has a good chance of rising above $50 again. Since then, he has bought more. But he wouldn't buy--or sell--it at today's price, though.
banks
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$44.400
Owned Owned
Yes

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PAST TOP PICK
Quarterhill Inc(QTRH-T) 

February 19, 2019

(A Top Pick Jan 16/18, Down 41%) They won a $145 million lawsuit against Apple, but the judge marked it down to $10 million minimum and ordered arbitration. This figure is huge for QTRH. The new CEO has done some takeovers in the past 18 months and wants to do more with $58 million cash. Has a clean balance sheet. Their big problem are their lumpy revenues and earnings. This now trades way below book value and offers tremendous upside. They're trying to get recurring revenues. This company will move in the right direction.
electrical/electronic
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(A Top Pick Jan 16/18, Down 41%) They won a $145 million lawsuit against Apple, but the judge marked it down to $10 million minimum and ordered arbitration. This figure is huge for QTRH. The new CEO has done some takeovers in the past 18 months and wants to do more with $58 million cash. Has a clean balance sheet. Their big problem are their lumpy revenues and earnings. This now trades way below book value and offers tremendous upside. They're trying to get recurring revenues. This company will move in the right direction.
electrical/electronic
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$1.280
Owned Owned
Yes

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PAST TOP PICK
Aegon N.V.(AEG-N) 

February 19, 2019

(A Top Pick Jan 16/18, Down 19%) He's owned this since 2014. It reported last week: revenues and earnings were down, but increased their dividend which is fat and what's he looking for. He sees this going to $20, but that's a long way off.
Financial Services
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(A Top Pick Jan 16/18, Down 19%) He's owned this since 2014. It reported last week: revenues and earnings were down, but increased their dividend which is fat and what's he looking for. He sees this going to $20, but that's a long way off.
Financial Services
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$5.270
Owned Owned
Yes

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PAST TOP PICK
GMP Capital Trust Inc(GMP-T) 

February 19, 2019

(A Top Pick Jan 16/18, Down 27%) Also a Top Pick today. Last year, GMP paid a special dividend and have since reinstituted it, which is a good sign for the future.
investment companies/funds
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(A Top Pick Jan 16/18, Down 27%) Also a Top Pick today. Last year, GMP paid a special dividend and have since reinstituted it, which is a good sign for the future.
investment companies/funds
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$2.740
Owned Owned
Yes

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DON'T BUY
Maxar Technologies(MAXR-T) 

February 19, 2019

It just landed on his watch list. He needs to study it more. It's had troubles. In the past 52 weeks it hit nearly $60, but is now around $8. Another great Canadian company that's having all kinds of problems: heavy debt, a satellite that imploded that hit revenues badly. He waits at least 6 months, sometimes 2 years before buying a stock after he puts it on his watch list.
computer software/processing
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It just landed on his watch list. He needs to study it more. It's had troubles. In the past 52 weeks it hit nearly $60, but is now around $8. Another great Canadian company that's having all kinds of problems: heavy debt, a satellite that imploded that hit revenues badly. He waits at least 6 months, sometimes 2 years before buying a stock after he puts it on his watch list.
computer software/processing
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$8.840
Owned Owned
No

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COMMENT
Buy for an RRSP? He hasn't owned a Brookfield company since the recession. So, he doesn't know their financials, but feels they are well-managed. But the payout ratio is 132%--a red flag. You don't have to worry about this with a Brookfield, but he'd like to see a much lower payout. Also, a dividend payer in your RRSP means you could pay full throttle in taxes when you eventually cash out. There are variables at play, so you have to balance a lot of things.
REAL ESTATE
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Buy for an RRSP? He hasn't owned a Brookfield company since the recession. So, he doesn't know their financials, but feels they are well-managed. But the payout ratio is 132%--a red flag. You don't have to worry about this with a Brookfield, but he'd like to see a much lower payout. Also, a dividend payer in your RRSP means you could pay full throttle in taxes when you eventually cash out. There are variables at play, so you have to balance a lot of things.
REAL ESTATE
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$26.380
Owned Owned
No

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COMMENT
General Market Comment 

February 19, 2019

Per capita, US goverment debt is lower than Canadian, so he disagrees with the opening comment that our debt situation is that bad. He politely disagrees. True, per capita, American debt is higher than ours, but both situations are bad. Our Canadian debt load is huge and getting bigger. The Liberals are saying they will erase the deficit in 2042: How can they forecast that far ahead? That's stupid. Canada is in very bad shape. America: He disagrees with Trump on many, many things. He should be paying down the debt when the economy is good. It makes zero sense. He doubts he will be re-elected.
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Per capita, US goverment debt is lower than Canadian, so he disagrees with the opening comment that our debt situation is that bad. He politely disagrees. True, per capita, American debt is higher than ours, but both situations are bad. Our Canadian debt load is huge and getting bigger. The Liberals are saying they will erase the deficit in 2042: How can they forecast that far ahead? That's stupid. Canada is in very bad shape. America: He disagrees with Trump on many, many things. He should be paying down the debt when the economy is good. It makes zero sense. He doubts he will be re-elected.
Unknown
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.000
Owned Owned
Unknown

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