Opinions by Benj Gallander | StockChase
2151
Benj Gallander

President

ON STOCKCHASE SINCE Apr 2002

Contra the Heard Investment Letter

2151
Benj Gallander

President

ON STOCKCHASE SINCE Apr 2002

Contra the Heard Investment Letter


Opinions by Benj Gallander


Signal Opinion Expert Chart
N/A
General Market Comment 

December 8, 2017

Market. For him, this is the best time of year. A lot of people wait until the end of the year to Sell their losers. It’s the simple law of supply and demand that puts more supply out there, therefore the price generally goes down. He gets to take advantage of that. This year there is going to be less tax loss selling because stocks have done well. He isn’t looking to buy a lot of stocks, perhaps 3 to 7.

Market. For him, this is the best time of year. A lot of people wait until the end of the year to Sell their losers. It’s the simple law of supply and demand that puts more supply out there, therefore the price generally goes down. He gets to take advantage of that. This year there is going to be less tax loss selling because stocks have done well. He isn’t looking to buy a lot of stocks, perhaps 3 to 7.

Unknown
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.020
Owned Owned
_N/A

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COMMENT
Aurora Cannabis(ACB-T) 

December 8, 2017

The stock is incredibly hot, and the whole field is hot. If you can choose the right company, you can do very, very well. The difficulty is choosing the right company. He only buys companies that have been around for at least 10 years. They just completed a takeover of a large greenhouse company. A lot of people are going to be burned in this area.

The stock is incredibly hot, and the whole field is hot. If you can choose the right company, you can do very, very well. The difficulty is choosing the right company. He only buys companies that have been around for at least 10 years. They just completed a takeover of a large greenhouse company. A lot of people are going to be burned in this area.

0
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$7.090
Owned Owned
No

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PAST TOP PICK
Aegon N.V.(AEG-N) 

December 8, 2017

(A Top Pick Dec 22/16. Up 17%.) A huge Dutch company that is in many, many countries. This could go up quite a bit. He can see it getting back over $20.

Financial Services

(A Top Pick Dec 22/16. Up 17%.) A huge Dutch company that is in many, many countries. This could go up quite a bit. He can see it getting back over $20.

Financial Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$6.190
Owned Owned
Yes

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TOP PICK
Aegon N.V.(AEG-N) 

December 8, 2017

This is gathering momentum. It pays a dividend, and dividends are nice to have. Dividend yield of 4.9%. (Analysts’ price target is $5.94.)

Financial Services

This is gathering momentum. It pays a dividend, and dividends are nice to have. Dividend yield of 4.9%. (Analysts’ price target is $5.94.)

Financial Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$6.190
Owned Owned
Yes

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COMMENT
AgJunction Inc(AJX-T) 

December 8, 2017

Precision agriculture. Still on his Buy list. It hasn’t worked out at all for him. Agriculture seems to be doing better, but this one has been left on the rails.

Telecommunications

Precision agriculture. Still on his Buy list. It hasn’t worked out at all for him. Agriculture seems to be doing better, but this one has been left on the rails.

Telecommunications
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.530
Owned Owned
Yes

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COMMENT
ATS Automation(ATA-T) 

December 8, 2017

Has a Sell target of $21+, but wonders if he has overvalued where it can go. He’s happy to continue holding.

misc industrial products

Has a Sell target of $21+, but wonders if he has overvalued where it can go. He’s happy to continue holding.

misc industrial products
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$15.760
Owned Owned
Yes

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COMMENT
Bank of America(BAC-N) 

December 8, 2017

His initial sell target on this is $38, so thinks it still has quite a way to go. Thinks it will keep going up and their bottom line will keep on improving for the next little while.

banks

His initial sell target on this is $38, so thinks it still has quite a way to go. Thinks it will keep going up and their bottom line will keep on improving for the next little while.

banks
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$29.050
Owned Owned
Yes

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PAST TOP PICK
BlackBerry(BB-T) 

December 8, 2017

(A Top Pick Dec 22/16. Up 37%.) 2018 might end up being a really good year. They’re making money now and have stemmed the revenue decline. John Chen keeps on hitting his targets.

electrical/electronic

(A Top Pick Dec 22/16. Up 37%.) 2018 might end up being a really good year. They’re making money now and have stemmed the revenue decline. John Chen keeps on hitting his targets.

electrical/electronic
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$13.180
Owned Owned
Yes

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COMMENT
Bombardier Inc (B)(BBD.B-T) 

December 8, 2017

He doesn’t think this is out of the woods yet. Canadian taxpayers have put so much money into this company. This has a lot of potential upside, but at the same time there are a lot of dangers with it.

transportation equip & components

He doesn’t think this is out of the woods yet. Canadian taxpayers have put so much money into this company. This has a lot of potential upside, but at the same time there are a lot of dangers with it.

transportation equip & components
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$3.190
Owned Owned
No

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COMMENT

An 8% dividend is about the point where he starts to get nervous about a company. If it is much higher than 8%, often the market is correct. The company has great management and a long history. If real estate gets hit, a lot of companies are going to take it on the chin. Dividend yield of 8.4%.

other services

An 8% dividend is about the point where he starts to get nervous about a company. If it is much higher than 8%, often the market is correct. The company has great management and a long history. If real estate gets hit, a lot of companies are going to take it on the chin. Dividend yield of 8.4%.

other services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$16.030
Owned Owned
No

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TOP PICK

He likes this a lot. Had paid $3.11 for it, and it went down to around $.30. They recapitalized and now have debt under $1 million. The Wilkes Brothers, billionaires out of Texas, invest in a lot of companies and companies generally do well when they do that. They’ve been buying a lot of shares, which has helped to spike the stock price. Management has done a really good job in turning the company around. (Analysts’ price target is $2.25.)

oil/gas field services

He likes this a lot. Had paid $3.11 for it, and it went down to around $.30. They recapitalized and now have debt under $1 million. The Wilkes Brothers, billionaires out of Texas, invest in a lot of companies and companies generally do well when they do that. They’ve been buying a lot of shares, which has helped to spike the stock price. Management has done a really good job in turning the company around. (Analysts’ price target is $2.25.)

oil/gas field services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.850
Owned Owned
Yes

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COMMENT

This had an amazing turnaround, but it has come off lately. It’s way too expensive for him. He likes stocks that have come off. This company is a leader in its field.

Financial Services

This had an amazing turnaround, but it has come off lately. It’s way too expensive for him. He likes stocks that have come off. This company is a leader in its field.

Financial Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$7.440
Owned Owned
No

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COMMENT
DataMetrex AI Limited(DM-X) 

December 8, 2017

Blockchain technology. There are going to be big winners and big losers in this area. A lot of banks are getting involved. This, in many ways, is the wave of the future. At the same time, there are going to be a lot of companies that will simply disappear. You have to be very careful where you invest. He likes to set Sell targets using historical data, but these companies have no historical data.

Financial Services

Blockchain technology. There are going to be big winners and big losers in this area. A lot of banks are getting involved. This, in many ways, is the wave of the future. At the same time, there are going to be a lot of companies that will simply disappear. You have to be very careful where you invest. He likes to set Sell targets using historical data, but these companies have no historical data.

Financial Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.260
Owned Owned
No

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COMMENT
Eldorado Gold(ELD-T) 

December 8, 2017

Gold is not cheap enough to be a contrarian play. There are some gold companies that he likes. With this one, you get into the political scene in Greece. They’ve had all kinds of difficulties, and continue to do so.

precious metals

Gold is not cheap enough to be a contrarian play. There are some gold companies that he likes. With this one, you get into the political scene in Greece. They’ve had all kinds of difficulties, and continue to do so.

precious metals
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.490
Owned Owned
No

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COMMENT
Freshii Inc(FRII-T) 

December 8, 2017

IPO’s are generally fools’ plays. If you buy into an IPO, odds are it is going to be down a year later. It’s great for the people selling. Often the price is inflated as they want to get it out there and make a lot of money. BV is about $1.70. There doesn’t seem to be tremendous value. He wouldn’t rush out to buy this, but it is certainly better value than it was at its IPO.

food services

IPO’s are generally fools’ plays. If you buy into an IPO, odds are it is going to be down a year later. It’s great for the people selling. Often the price is inflated as they want to get it out there and make a lot of money. BV is about $1.70. There doesn’t seem to be tremendous value. He wouldn’t rush out to buy this, but it is certainly better value than it was at its IPO.

food services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$6.750
Owned Owned
No

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COMMENT
ING Groep NV(ING-N) 

December 8, 2017

European financials have moved up a lot since the recession. This was on his watch list, but has now moved up too far for him. It is of no interest to him at this time. At some point there is going to be another banking blowout, and this could get hit.

investment companies/funds

European financials have moved up a lot since the recession. This was on his watch list, but has now moved up too far for him. It is of no interest to him at this time. At some point there is going to be another banking blowout, and this could get hit.

investment companies/funds
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$18.550
Owned Owned
No

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PAST TOP PICK
Innodata Isogen Inc.(INOD-Q) 

December 8, 2017

(A Top Pick Dec 22/16. Down 48%.) Just announced they are setting up a committee which is going to really look at operations and the board. He is happy to hold this, but there is not a lot to get excited about.

Business Services

(A Top Pick Dec 22/16. Down 48%.) Just announced they are setting up a committee which is going to really look at operations and the board. He is happy to hold this, but there is not a lot to get excited about.

Business Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.120
Owned Owned
Yes

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COMMENT

Doesn’t know this very well. REITs is a very hot field. A lot of people are saying apartments are the way to go. Thinks there are some major things that might hit the economy such as huge debt loads, both government and personal. Also, real estate prices have gone up like crazy, although they have cooled to some degree, but could still fall quite a bit.

property mngmnt/investment

Doesn’t know this very well. REITs is a very hot field. A lot of people are saying apartments are the way to go. Thinks there are some major things that might hit the economy such as huge debt loads, both government and personal. Also, real estate prices have gone up like crazy, although they have cooled to some degree, but could still fall quite a bit.

property mngmnt/investment
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$14.420
Owned Owned
No

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COMMENT
Lundin Mining Corp.(LUN-T) 

December 8, 2017

Doesn’t know this company well. He likes to see a company where the stock price has dropped 33% in the past 52 weeks and is trading at the lower end of its 10-year range.

metal mines

Doesn’t know this company well. He likes to see a company where the stock price has dropped 33% in the past 52 weeks and is trading at the lower end of its 10-year range.

metal mines
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$7.060
Owned Owned
No

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TOP PICK
Quarterhill Inc(QTRH-T) 

December 8, 2017

Has a new CEO who had done really well with Open Text. The company just had record earnings. Dividend yield of 2.4%. (Analysts’ price target is $3.)

electrical/electronic

Has a new CEO who had done really well with Open Text. The company just had record earnings. Dividend yield of 2.4%. (Analysts’ price target is $3.)

electrical/electronic
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.150
Owned Owned
Yes

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BUY

This is on his Buy list. It pays a nice $.05 quarterly dividend. Just reported earnings, and looked really bad because their Addition L subsidiary, took a big write down of about $26 million. There are difficulties in the retail space, however their same-store sales were up on their bricks and mortars stores. They’re also up in terms of the Internet. This is a good fit.

clothing stores

This is on his Buy list. It pays a nice $.05 quarterly dividend. Just reported earnings, and looked really bad because their Addition L subsidiary, took a big write down of about $26 million. There are difficulties in the retail space, however their same-store sales were up on their bricks and mortars stores. They’re also up in terms of the Internet. This is a good fit.

clothing stores
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$4.470
Owned Owned
Yes

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COMMENT
Royal Nickel Corp (RNX-T) 

December 8, 2017

In some way, this company has transitioned positively. They now have revenues. Have lowered their operating costs. Still losing a lot of money, about $12 million last quarter. A few years ago, they had around 90 million shares, but now have about 307 million shares, which makes it very, very hard on the upside. There could be a further dilution. Speculative.

Mining

In some way, this company has transitioned positively. They now have revenues. Have lowered their operating costs. Still losing a lot of money, about $12 million last quarter. A few years ago, they had around 90 million shares, but now have about 307 million shares, which makes it very, very hard on the upside. There could be a further dilution. Speculative.

Mining
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.160
Owned Owned
No

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COMMENT

The Dimension Fund (contrarian investors) has been buying to add to their position. When they buy into a company, that is a good sign for a lot of investors. This company has been a fascinating topic of conversation over the past few years. They were doing too many takeovers and taking on way too much debt. Still has a big debt load, but have been paying it off and he can see how this could be a good turnaround play. Because of their debt, there are still dangers out there.

Consumer Products

The Dimension Fund (contrarian investors) has been buying to add to their position. When they buy into a company, that is a good sign for a lot of investors. This company has been a fascinating topic of conversation over the past few years. They were doing too many takeovers and taking on way too much debt. Still has a big debt load, but have been paying it off and he can see how this could be a good turnaround play. Because of their debt, there are still dangers out there.

Consumer Products
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$25.360
Owned Owned
Unknown

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N/A
General Market Comment 

November 24, 2017

Market. It is fascinating what has gone on. If someone had said at the beginning of the year that the market was going to do what it has done, most people would have said that it was unrealistic. The American market in particular, but now the Canadian market too has caught fire. It’s fascinating to watch, but it makes it much harder for him as a contrarian, to find value stocks he can buy during this tax loss season. Hopefully he can find some that he can cherry pick towards the end of the year.

Market. It is fascinating what has gone on. If someone had said at the beginning of the year that the market was going to do what it has done, most people would have said that it was unrealistic. The American market in particular, but now the Canadian market too has caught fire. It’s fascinating to watch, but it makes it much harder for him as a contrarian, to find value stocks he can buy during this tax loss season. Hopefully he can find some that he can cherry pick towards the end of the year.

Unknown
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.020
Owned Owned
_N/A

Must be logged in to use chart
N/A
General Market Comment 

November 24, 2017

Screening Criteria? He likes stocks that have been in business more than 10 years, that should be trading at $10 or less, with little or no debt on the balance sheet. Also, the stock has to be down 33% in the past year. He likes trading towards the low end of a 10-year range. Wants at least a 100% upside, often 200%, 300%, 400%, based on what the stock price has been in the past. Likes to know that management can do what they say they are going to do. Insider buying is something else he likes. If the sector is out of play, that is worth one of his points.

Screening Criteria? He likes stocks that have been in business more than 10 years, that should be trading at $10 or less, with little or no debt on the balance sheet. Also, the stock has to be down 33% in the past year. He likes trading towards the low end of a 10-year range. Wants at least a 100% upside, often 200%, 300%, 400%, based on what the stock price has been in the past. Likes to know that management can do what they say they are going to do. Insider buying is something else he likes. If the sector is out of play, that is worth one of his points.

Unknown
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.020
Owned Owned
_N/A

Must be logged in to use chart
N/A
General Market Comment 

November 24, 2017

Oil and gas? He doesn’t think this is very contrarian now. A lot of companies haven’t come back, and some have come back a fair distance. You can look at a number of companies that have been so-called survivors. Because they’ve survived this long, that increases the potential of them surviving into the future. There are still some that will go under, but thinks they have seen the worst of it. Definitely a sector worth looking at.

Oil and gas? He doesn’t think this is very contrarian now. A lot of companies haven’t come back, and some have come back a fair distance. You can look at a number of companies that have been so-called survivors. Because they’ve survived this long, that increases the potential of them surviving into the future. There are still some that will go under, but thinks they have seen the worst of it. Definitely a sector worth looking at.

Unknown
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.020
Owned Owned
_N/A

Must be logged in to use chart
PAST TOP PICK
Aegon N.V.(AEG-N) 

November 24, 2017

(A Top Pick Dec 22/16. Up 15%.) A huge Dutch insurer and operates in many countries. Had huge problems during the recession and had to be bailed out by the Dutch government. They seem to be getting their house in order. They could be on the comeback trail. They’ve been doing well over the past year. It wouldn’t surprise him if this ultimately tripled.

Financial Services

(A Top Pick Dec 22/16. Up 15%.) A huge Dutch insurer and operates in many countries. Had huge problems during the recession and had to be bailed out by the Dutch government. They seem to be getting their house in order. They could be on the comeback trail. They’ve been doing well over the past year. It wouldn’t surprise him if this ultimately tripled.

Financial Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$6.080
Owned Owned
Yes

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PAST TOP PICK
BlackBerry(BB-T) 

November 24, 2017

(A Top Pick Dec 22/16. Up 44%.) He likes what John Chen is doing. He basically hits targets. When looking to turn around a company this big, it takes a huge amount of time. In this case, it was more difficult, because they had to get out of one space and more into another. One of the beauties of this company is that as they turn, the analysts are on it regularly, so more people will jump into it.

electrical/electronic

(A Top Pick Dec 22/16. Up 44%.) He likes what John Chen is doing. He basically hits targets. When looking to turn around a company this big, it takes a huge amount of time. In this case, it was more difficult, because they had to get out of one space and more into another. One of the beauties of this company is that as they turn, the analysts are on it regularly, so more people will jump into it.

electrical/electronic
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$13.620
Owned Owned
Yes

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COMMENT

Has been very good to him. He bought it at around $.25 several years ago, when they were potentially on the verge of bankruptcy. Brought in a new CEO who had been at another brewery that got taken over. Sold out a few months ago at $3.99. It is still over $3, so it has zero interest for him.

breweries/beverages

Has been very good to him. He bought it at around $.25 several years ago, when they were potentially on the verge of bankruptcy. Brought in a new CEO who had been at another brewery that got taken over. Sold out a few months ago at $3.99. It is still over $3, so it has zero interest for him.

breweries/beverages
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$3.250
Owned Owned
No

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COMMENT

He would suggest looking at the goodwill on the balance sheet. If they have to write it down a long way, that would really hurt the BV. They have a tremendous amount of debt, so they are not out of the woods. Has huge upside potential. Oil and gas has come back in favour to some degree. Worth a look, but expects there will be more tax loss selling and it could go down a lot further.

oil/gas

He would suggest looking at the goodwill on the balance sheet. If they have to write it down a long way, that would really hurt the BV. They have a tremendous amount of debt, so they are not out of the woods. Has huge upside potential. Oil and gas has come back in favour to some degree. Worth a look, but expects there will be more tax loss selling and it could go down a lot further.

oil/gas
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.480
Owned Owned
Yes

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COMMENT
CRH Medical Corp.(CRH-T) 

November 24, 2017

Has been badly beaten up. In 2014, revenues were about $11 million, and are now looking at about $100 million. BV is around $.85, so it is still trading at around 3X BV. The important thing is that insiders have been selling like crazy. When this happens, that is not a good sign. Not a contrarian stock to his way of thinking.

biotechnology/pharmaceutical

Has been badly beaten up. In 2014, revenues were about $11 million, and are now looking at about $100 million. BV is around $.85, so it is still trading at around 3X BV. The important thing is that insiders have been selling like crazy. When this happens, that is not a good sign. Not a contrarian stock to his way of thinking.

biotechnology/pharmaceutical
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.520
Owned Owned
No

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COMMENT
Eldorado Gold(ELD-T) 

November 24, 2017

When it appeared they might have come to an agreement with the Greek government a couple of months ago, he felt it was the 3rd inning. However, they’ve taken a step back. It’s an ongoing saga. They’ve put about $1 million into the mine and have employed a lot of workers. It’s on his Watch List, but he’s not willing to dive into it.

precious metals

When it appeared they might have come to an agreement with the Greek government a couple of months ago, he felt it was the 3rd inning. However, they’ve taken a step back. It’s an ongoing saga. They’ve put about $1 million into the mine and have employed a lot of workers. It’s on his Watch List, but he’s not willing to dive into it.

precious metals
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.570
Owned Owned
No

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COMMENT
Extendicare Inc(EXE-T) 

November 24, 2017

He bought this 4 years ago at $7.01 and it is now $9.44. One reason he bought it was for the dividend as it was over 7%. Thinks this could go to $15. It’s a leader in the field and a wonderful demographic play. They’ve been growing by acquiring and organically.

other services

He bought this 4 years ago at $7.01 and it is now $9.44. One reason he bought it was for the dividend as it was over 7%. Thinks this could go to $15. It’s a leader in the field and a wonderful demographic play. They’ve been growing by acquiring and organically.

other services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$9.440
Owned Owned
Yes

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TOP PICK

A small bank in Alabama. Has 15 outlets and has done very well. Not huge revenues, but they are decent and fairly stable. Thinks this has tremendous upside. Their capitalization ratios are amazing. It’s rare to see a bank that good. He thinks it can double from here. Dividend yield of 0.7%.

Financial Services

A small bank in Alabama. Has 15 outlets and has done very well. Not huge revenues, but they are decent and fairly stable. Thinks this has tremendous upside. Their capitalization ratios are amazing. It’s rare to see a bank that good. He thinks it can double from here. Dividend yield of 0.7%.

Financial Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$11.990
Owned Owned
Yes

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COMMENT
General Electric(GE-N) 

November 24, 2017

Has a new CEO, and all of a sudden people are selling like crazy. The new CEO bought about $1 million worth of shares, which is a good sign. They are looking to sell off a lot of assets. Has a big debt load, so it would be good to pay it down. There are going to be huge changes over the next few years. A great company with some great components, but there are going to be some major write-downs coming, and that always discourages investors. The dividend just got slashed in half.

electrical/electronic

Has a new CEO, and all of a sudden people are selling like crazy. The new CEO bought about $1 million worth of shares, which is a good sign. They are looking to sell off a lot of assets. Has a big debt load, so it would be good to pay it down. There are going to be huge changes over the next few years. A great company with some great components, but there are going to be some major write-downs coming, and that always discourages investors. The dividend just got slashed in half.

electrical/electronic
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$18.190
Owned Owned
Yes

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TOP PICK
GMP Capital Trust Inc(GMP-T) 

November 24, 2017

This is having a lot of trouble. Their space got hit, and a lot of companies have gone under. They do a lot of financing, and also have a good piece of Richardson Securities, which is doing very well in wealth management. The most recent quarterly earnings were down about 21%. They lost about $2.8 million. The commodity fields, which is their cache, has not been doing well, but has been coming back. Just did a crypto currency deal. He’d love to see them do some marijuana plays. This could move up quite a distance from where its at.

investment companies/funds

This is having a lot of trouble. Their space got hit, and a lot of companies have gone under. They do a lot of financing, and also have a good piece of Richardson Securities, which is doing very well in wealth management. The most recent quarterly earnings were down about 21%. They lost about $2.8 million. The commodity fields, which is their cache, has not been doing well, but has been coming back. Just did a crypto currency deal. He’d love to see them do some marijuana plays. This could move up quite a distance from where its at.

investment companies/funds
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.240
Owned Owned
Yes

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PAST TOP PICK
Innodata Isogen Inc.(INOD-Q) 

November 24, 2017

(A Top Pick Dec 22/16. Down 50%.) This deals with digitalization, things like e-books. On the conference calls, they are always super optimistic. In the last 2 conference calls, they weren’t. Sales have flatlined and they’ve been losing money. Expects that over the next 5 weeks there will be tax loss selling on this. He is happy to hold it, but it probably won’t pay off for quite a while.

Business Services

(A Top Pick Dec 22/16. Down 50%.) This deals with digitalization, things like e-books. On the conference calls, they are always super optimistic. In the last 2 conference calls, they weren’t. Sales have flatlined and they’ve been losing money. Expects that over the next 5 weeks there will be tax loss selling on this. He is happy to hold it, but it probably won’t pay off for quite a while.

Business Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.080
Owned Owned
Yes

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DON'T BUY

The number of shares is absolutely insane. The share count has grown dramatically. They’ve been in survival mode for quite a while, but thinks they will survive. It wouldn’t surprise him if they did a share consolidation. Share consolidations are virtually always bad for stocks. A speculative play, but it could be good. Doesn’t think you will lose all your money. He doesn’t see putting dollars on it at this time.

banks

The number of shares is absolutely insane. The share count has grown dramatically. They’ve been in survival mode for quite a while, but thinks they will survive. It wouldn’t surprise him if they did a share consolidation. Share consolidations are virtually always bad for stocks. A speculative play, but it could be good. Doesn’t think you will lose all your money. He doesn’t see putting dollars on it at this time.

banks
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.161
Owned Owned
No

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TOP PICK
Quarterhill Inc(QTRH-T) 

November 24, 2017

Revenues last year were $93 million. Last quarter, they were $85 million. Made about $22 million, and the stock price, which he thought would really jump, came down. One of the reasons could be that a bulletin board  “Stock House” had said he had “pumped and dumped” this stock, which is something he never does. Dividend yield of 2.3%. (Analysts’ price target is $2.75.)

electrical/electronic

Revenues last year were $93 million. Last quarter, they were $85 million. Made about $22 million, and the stock price, which he thought would really jump, came down. One of the reasons could be that a bulletin board  “Stock House” had said he had “pumped and dumped” this stock, which is something he never does. Dividend yield of 2.3%. (Analysts’ price target is $2.75.)

electrical/electronic
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.170
Owned Owned
Yes

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COMMENT
Rite Aid Corp.(RAD-N) 

November 24, 2017

Getting a $5 billion injection from Walgreen which will help with their long-term debt. Has had his brains blown out of the water on this stock. Bought it as an arbitrage play because of Walgreen. Has bought more recently. This has been one of his big losers. He is happy to hold it as he thinks it has a lot of upside. Same-store sales going down in a company is not great.

specialty stores

Getting a $5 billion injection from Walgreen which will help with their long-term debt. Has had his brains blown out of the water on this stock. Bought it as an arbitrage play because of Walgreen. Has bought more recently. This has been one of his big losers. He is happy to hold it as he thinks it has a lot of upside. Same-store sales going down in a company is not great.

specialty stores
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.640
Owned Owned
Yes

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COMMENT
Rogers Sugar Inc(RSI-T) 

November 24, 2017

Besides sugar, this is now going into maple syrup. Thinks that is a smart move. The company has been a great spin off in terms of dividends. Has never bought this, but wishes he had. Maple sugar is not out of favour the way sugar is. He is not buying, because there is not enough upturn in the stock. They pay a really good dividend.

Consumer Products

Besides sugar, this is now going into maple syrup. Thinks that is a smart move. The company has been a great spin off in terms of dividends. Has never bought this, but wishes he had. Maple sugar is not out of favour the way sugar is. He is not buying, because there is not enough upturn in the stock. They pay a really good dividend.

Consumer Products
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$6.230
Owned Owned
No

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COMMENT
Teva Pharmaceutical(TEVA-N) 

November 24, 2017

This has fallen a long way. What you have to think about is, should you take a tax loss. If you haven’t done it yet, it might be worthwhile. You can also buy it back after 30 days and you will have crystallized your loss.

biotechnology/pharmaceutical

This has fallen a long way. What you have to think about is, should you take a tax loss. If you haven’t done it yet, it might be worthwhile. You can also buy it back after 30 days and you will have crystallized your loss.

biotechnology/pharmaceutical
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$13.700
Owned Owned
Unknown

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COMMENT
TorstarCorp (B)(TS.B-T) 

November 24, 2017

Prem Watsa owns about 40.1% of the common shares. Do you buy this for capital appreciation, the dividend, or perhaps for the breakup value later on? That is definitely a good signal. It could be a good contrarian pick now. They have no debt, and the dividend is over 6%. The high dividend is a danger signal. This is risky.

publishing/printing

Prem Watsa owns about 40.1% of the common shares. Do you buy this for capital appreciation, the dividend, or perhaps for the breakup value later on? That is definitely a good signal. It could be a good contrarian pick now. They have no debt, and the dividend is over 6%. The high dividend is a danger signal. This is risky.

publishing/printing
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.550
Owned Owned
No

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COMMENT
Yamana Gold Inc.(YRI-T) 

November 24, 2017

Has a tremendous amount of insider buying, which is normally a good signal. Has had it on his Watch List for a number of years. Doesn’t see buying it now, but it is certainly in the realm of contrarian plays.

precious metals

Has a tremendous amount of insider buying, which is normally a good signal. Has had it on his Watch List for a number of years. Doesn’t see buying it now, but it is certainly in the realm of contrarian plays.

precious metals
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$3.380
Owned Owned
Unknown

Must be logged in to use chart
N/A
General Market Comment 

November 3, 2017

Investing.We are not too far off from the tax loss selling season, and he is looking for bargains. It is crazy what is going on now, making the number of stocks he can buy severely diminished. There are still some he can cherry pick, and hopefully by some good ones before the end of the year. If the US lowers the tax rate from 35% to 20% for the major corporations, as they say, it makes them more competitive. However, the US debt is about $20 trillion. You can go to the US Debt Clock, throw it on your computer, it is absolutely crazy. The average US taxpayer owes $170,000, and estimates are that the deficit is going to go up over another trillion dollars. What they are doing is great for Donald Trump, his family and his colleagues.

Investing.We are not too far off from the tax loss selling season, and he is looking for bargains. It is crazy what is going on now, making the number of stocks he can buy severely diminished. There are still some he can cherry pick, and hopefully by some good ones before the end of the year. If the US lowers the tax rate from 35% to 20% for the major corporations, as they say, it makes them more competitive. However, the US debt is about $20 trillion. You can go to the US Debt Clock, throw it on your computer, it is absolutely crazy. The average US taxpayer owes $170,000, and estimates are that the deficit is going to go up over another trillion dollars. What they are doing is great for Donald Trump, his family and his colleagues.

Unknown
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.020
Owned Owned
_N/A

Must be logged in to use chart
N/A
General Market Comment 

November 3, 2017

Stock Screening? He uses Globe Investor Gold and, as a contrarian, he looks for stocks that are down about 33% in the past year. Also looks to see if they have been listed for 10 years, as he only buys stocks that have been out there for 10 years. He'll then look at financial ratios. With the Globe filter, he throws in a few things on the screen along with a certain amount of revenues, and this gives him a bunch of stocks to look at. MorningStar is also quite handy as they have information going back a number of years.

Stock Screening? He uses Globe Investor Gold and, as a contrarian, he looks for stocks that are down about 33% in the past year. Also looks to see if they have been listed for 10 years, as he only buys stocks that have been out there for 10 years. He'll then look at financial ratios. With the Globe filter, he throws in a few things on the screen along with a certain amount of revenues, and this gives him a bunch of stocks to look at. MorningStar is also quite handy as they have information going back a number of years.

Unknown
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.020
Owned Owned
_N/A

Must be logged in to use chart
COMMENT
General Market Comment 

November 3, 2017

Uranium. With all the stocks decimated, isn’t this a good contrarian play?He loves buying into sectors that are out of favour, and uranium is way out of favour. Uranium prices are way down. Japan hasn't recovered from the problems they had. This is definitely a sector he is interested in. Cameco (CCO-T) just reported results which were not good, but they seem to be doing just about everything they can to keep it going in a very poor marketplace. A big wildcard is their fight with the tax authorities. They've settled in the US, which cost them virtually nothing, but could cost a fortune in Canada. A company like Denison (DML-T), which he owned years ago, is at the other end of the spectrum.

Uranium. With all the stocks decimated, isn’t this a good contrarian play?He loves buying into sectors that are out of favour, and uranium is way out of favour. Uranium prices are way down. Japan hasn't recovered from the problems they had. This is definitely a sector he is interested in. Cameco (CCO-T) just reported results which were not good, but they seem to be doing just about everything they can to keep it going in a very poor marketplace. A big wildcard is their fight with the tax authorities. They've settled in the US, which cost them virtually nothing, but could cost a fortune in Canada. A company like Denison (DML-T), which he owned years ago, is at the other end of the spectrum.

Unknown
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$0.020
Owned Owned
Unknown

Must be logged in to use chart
TOP PICK
Alacer Gold Corp(ASR-T) 

November 3, 2017

Has 2 major knocks against it. Based in Turkey and has about $120 million in debt. They’re expanding their copper play and making money. The balance sheet is going to get murkier, but they are coming in on a mine expansion, on time and under budget. Feels it could triple from here. (Analysts' price target is $3.15.)

Mining

Has 2 major knocks against it. Based in Turkey and has about $120 million in debt. They’re expanding their copper play and making money. The balance sheet is going to get murkier, but they are coming in on a mine expansion, on time and under budget. Feels it could triple from here. (Analysts' price target is $3.15.)

Mining
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.020
Owned Owned
Yes

Must be logged in to use chart
COMMENT
BlackBerry(BB-T) 

November 3, 2017

Paid $10.46 a few years ago when he thought it was going to be taken over. John Chen basically says "These are my goals." and has been hitting them. When management does that, it gives him more confidence. They’ve had to completely turn around this huge, huge boat, which takes time. Revenues are way down from where they where before, but seem to be stabilizing to some degree and thinks they are going to go up, and there is going to be a positive bottom line. Can see this going well over $20.

electrical/electronic

Paid $10.46 a few years ago when he thought it was going to be taken over. John Chen basically says "These are my goals." and has been hitting them. When management does that, it gives him more confidence. They’ve had to completely turn around this huge, huge boat, which takes time. Revenues are way down from where they where before, but seem to be stabilizing to some degree and thinks they are going to go up, and there is going to be a positive bottom line. Can see this going well over $20.

electrical/electronic
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$14.010
Owned Owned
Yes

Must be logged in to use chart
TOP PICK

A drilling company. Got absolutely hammered with oil/gas prices. Had paid $3.11, and it had dropped to about $0.35. Currently it’s around $1.50-$1.60, so it has come back nicely. Paid off all their debt. Made about $186,000 last quarter. Wilkes Brothers out of Texas have been buying a ton of stock. They bought into Trican Well Services (TCW-T), which has gone up like crazy. He is hopeful this might do the same. (Analysts' price target is $1.75.)

oil/gas field services

A drilling company. Got absolutely hammered with oil/gas prices. Had paid $3.11, and it had dropped to about $0.35. Currently it’s around $1.50-$1.60, so it has come back nicely. Paid off all their debt. Made about $186,000 last quarter. Wilkes Brothers out of Texas have been buying a ton of stock. They bought into Trican Well Services (TCW-T), which has gone up like crazy. He is hopeful this might do the same. (Analysts' price target is $1.75.)

oil/gas field services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.690
Owned Owned
Yes

Must be logged in to use chart
COMMENT

Followed this closely years ago. It was struggling to survive. The numbers did not support him Buying the company, but he really liked management. They seemed to be bull dogs. Wished he had bought this. Management turned things around. He doesn't know their financials.

Financial Services

Followed this closely years ago. It was struggling to survive. The numbers did not support him Buying the company, but he really liked management. They seemed to be bull dogs. Wished he had bought this. Management turned things around. He doesn't know their financials.

Financial Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$8.900
Owned Owned
No

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COMMENT
DHX Media(DHX.B-T) 

November 3, 2017

This is the time of year when people should be looking at portfolios, and think about taking tax losses. He takes most of his tax losses in May. At $4 a share, this is way above where he would've bought in. Look at the financials and why you bought in. Think about what is going on with the company. Take a close look at their debt levels. There is a reasonable chance that before the end of the year, there could be tax loss selling.

other services

This is the time of year when people should be looking at portfolios, and think about taking tax losses. He takes most of his tax losses in May. At $4 a share, this is way above where he would've bought in. Look at the financials and why you bought in. Think about what is going on with the company. Take a close look at their debt levels. There is a reasonable chance that before the end of the year, there could be tax loss selling.

other services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$3.950
Owned Owned
No

Must be logged in to use chart
COMMENT
Eldorado Gold(ELD-T) 

November 3, 2017

Has been on his watch list for years. Greece is their big growth prospect. They were having all kinds of difficulty with the Greek government. Recently the government capitulated to some degree. The company was threatening to leave the country. They've spent well over $1 billion already. They employed a lot of workers who demonstrated against the government. It's a fascinating contrarian play. If you buy into a stock like this, you have to be very, very patient.

precious metals

Has been on his watch list for years. Greece is their big growth prospect. They were having all kinds of difficulty with the Greek government. Recently the government capitulated to some degree. The company was threatening to leave the country. They've spent well over $1 billion already. They employed a lot of workers who demonstrated against the government. It's a fascinating contrarian play. If you buy into a stock like this, you have to be very, very patient.

precious metals
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.580
Owned Owned
No

Must be logged in to use chart
BUY
Extendicare Inc(EXE-T) 

November 3, 2017

Bought this at $7.01 a few years ago. It hasn't done much lately, but it does pay a $0.04 dividend every month, so the return is better than 5%. He likes this. It’s a great demographic play. They are in senior citizen homes, and the Canadian population is getting older. Provincial governments are often putting more money into the sector. The company has done some takeovers. He is perfectly happy to hold this. It wouldn't surprise him to see it go up to $15. Thinks the dividend is safe.

other services

Bought this at $7.01 a few years ago. It hasn't done much lately, but it does pay a $0.04 dividend every month, so the return is better than 5%. He likes this. It’s a great demographic play. They are in senior citizen homes, and the Canadian population is getting older. Provincial governments are often putting more money into the sector. The company has done some takeovers. He is perfectly happy to hold this. It wouldn't surprise him to see it go up to $15. Thinks the dividend is safe.

other services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$9.310
Owned Owned
Yes

Must be logged in to use chart
DON'T BUY
Fairfax Financial(FFH-T) 

November 3, 2017

Just reported results yesterday and made a huge amount of money, almost $500 million. He likes Prem Watsa. Like everybody else, he is not perfect. Took his hedges off earlier this year. They are very diversified, not just in insurance, but are in India, Ireland, etc. Wouldn't say this was cheap by any metric. He owns the preferreds. Wouldn't be buying now.

insurance

Just reported results yesterday and made a huge amount of money, almost $500 million. He likes Prem Watsa. Like everybody else, he is not perfect. Took his hedges off earlier this year. They are very diversified, not just in insurance, but are in India, Ireland, etc. Wouldn't say this was cheap by any metric. He owns the preferreds. Wouldn't be buying now.

insurance
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$674.740
Owned Owned
Yes

Must be logged in to use chart
COMMENT
Freshii Inc(FRII-T) 

November 3, 2017

This came out in January at about $11.50. The valuation was about $300 million. To him that was absolutely insane. The company had revenues under $20 million, lots of hope, lots of hype. The people who sold this to clients should have said that the price is way too high. In terms of IPOs, about 90% are down in value about a year later. Often you get a pop at the beginning, and then comes way down. The changes they had were pretty dramatic.

food services

This came out in January at about $11.50. The valuation was about $300 million. To him that was absolutely insane. The company had revenues under $20 million, lots of hope, lots of hype. The people who sold this to clients should have said that the price is way too high. In terms of IPOs, about 90% are down in value about a year later. Often you get a pop at the beginning, and then comes way down. The changes they had were pretty dramatic.

food services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$6.010
Owned Owned
No

Must be logged in to use chart
PAST TOP PICK
First United(FUNC-Q) 

November 3, 2017

(A Top Pick Sept 22/16. Up 70%.) This has done very well, and he keeps on waiting for it to start a dividend again. A regional bank, but with reasonable insider ownership. Well-managed. Trades at around BV. He can see a $5 upside from here.

Financial Services

(A Top Pick Sept 22/16. Up 70%.) This has done very well, and he keeps on waiting for it to start a dividend again. A regional bank, but with reasonable insider ownership. Well-managed. Trades at around BV. He can see a $5 upside from here.

Financial Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$17.700
Owned Owned
Yes

Must be logged in to use chart
PAST TOP PICK

(A Top Pick Sept 22/16. Up 17%.) A small regional bank, but with reasonable insider ownership. Well-managed. Trades at around BV. He can see this doubling from here.

Financial Services

(A Top Pick Sept 22/16. Up 17%.) A small regional bank, but with reasonable insider ownership. Well-managed. Trades at around BV. He can see this doubling from here.

Financial Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$11.530
Owned Owned
Yes

Must be logged in to use chart
PAST TOP PICK
Innodata Isogen Inc.(INOD-Q) 

November 3, 2017

(A Top Pick Sept 22/16. Down 46%.) Has been horrible, but this has a tendency to pop about every 3 years. They do digitalization for e-books, etc. When you listen to conference calls, it always sounds like they are going to be doing really well. Unfortunately, on the last conference call, they seemed to lose their confidence to some degree. There is a reasonable chance it could come down further in the tax loss season. Remains on his watch list, and he continues to buy it. Wouldn't be buying this today or tomorrow, but would wait to see if there is more tax loss selling.

Business Services

(A Top Pick Sept 22/16. Down 46%.) Has been horrible, but this has a tendency to pop about every 3 years. They do digitalization for e-books, etc. When you listen to conference calls, it always sounds like they are going to be doing really well. Unfortunately, on the last conference call, they seemed to lose their confidence to some degree. There is a reasonable chance it could come down further in the tax loss season. Remains on his watch list, and he continues to buy it. Wouldn't be buying this today or tomorrow, but would wait to see if there is more tax loss selling.

Business Services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.250
Owned Owned
Yes

Must be logged in to use chart
COMMENT

A very established company. It’s been around forever. Bought it years ago at about $3-$4, and ran it up to about $20. He likes management. Has zero interest in it now. Almost everything he buys is under $10.

packaging/containers

A very established company. It’s been around forever. Bought it years ago at about $3-$4, and ran it up to about $20. He likes management. Has zero interest in it now. Almost everything he buys is under $10.

packaging/containers
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$18.550
Owned Owned
No

Must be logged in to use chart
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