John Kim
Member since: Mar '16
Portfolio Manager at
Aston Hill Financial
Aston Hill Financial
145 Opinions
Latest Top Picks
(A Top Pick Jun 21/19, Up 2%) Hasn't sold any. Loves it. He'd name it a top pick again, but it's too soon. They just reported earnings with great free cash flow which will lead to share buybacks and dividend increases. Everything is on track here.
(A Top Pick Jun 21/19, Up 8%) He's not worried at all about pressures on wiring pricing in the States, and in fact expects more rational pricing to come with only three big players.
(A Top Pick Jun 21/19, Up 10%) They just reported and raised their guidance. The integration with a health insurer is going well, so investors are relieved. It's at a super-low valuation. He expects a good return. The stock is down this year because of American politics threatening this sector.
Their last two earnings reports show that the integration is going well. Reception is going well for their new health hubs (integration pharmacy, wellness, primary care) starting in Texas, and will continue to add them across the States. (Analysts’ price target is $69.00)
A headwind is breaking off with air express contract and now the ground contract with Amazon, leaving just the international deal, but thost cuts amounted to only 1.5% of FedEx's revenues. The valation and stock price are down nearly 50% from its highs, and expectations have declined. Meanwhile, e-commerce is the only area that continues to grow. FedEx is going small small/medium businesses. FedEx has an advantage over Amazon, because FedEx has 30 years of overnight delivering, whereas Amazon is on a learning curve. (Analysts’ price target is $186.44)
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COMMENT
COMMENT
August 9, 2019
We're at the end of the bull market. Valuations have peaked and earnings are flat...China does manipulate its currency to some extent...Powell calls the latest interest rate cut an "adjustment" which is an insurance policy, but time will tell if it works....He prefers the US over the Canadian market, because the American one is broader and Canadian is narrower....Most Canadian consumer stocks are actually international like Alimentation Couche-Tard.
We're at the end of the bull market. Valuations have peaked and earnings are flat...China does manipulate its currency to some extent...Powell calls the latest interest rate cut an "adjustment" which is an insurance policy, but time will tell if it works....He prefers the US over the Canadian market, because the American one is broader and Canadian is narrower....Most Canadian consumer stocks are actually international like Alimentation Couche-Tard.
John Kim
Portfolio Manager, Aston Hill Financial
DON'T BUY
DON'T BUY
August 9, 2019
Their focus is their internal liquor brands, whose sales have been flat. They invested in cannabis (Canopy) as a way to grow, but is stalled. We'll see about the long-term. Invest elsewhere in consumer staples.
Their focus is their internal liquor brands, whose sales have been flat. They invested in cannabis (Canopy) as a way to grow, but is stalled. We'll see about the long-term. Invest elsewhere in consumer staples.
breweries/beverages
DON'T BUY
DON'T BUY
August 9, 2019
The issue is that Canadian housing growth is starting to slow. Also, with interest rates so slow, what is their funding model? HCG is at fair value now, after being rescued for dead by Warren Buffet. Can they keep originations and how profitable will it be? Also, what recent weak jobs data, how long will people keep buying homes?
The issue is that Canadian housing growth is starting to slow. Also, with interest rates so slow, what is their funding model? HCG is at fair value now, after being rescued for dead by Warren Buffet. Can they keep originations and how profitable will it be? Also, what recent weak jobs data, how long will people keep buying homes?
investment companies/funds
DON'T BUY
DON'T BUY
August 9, 2019
oil/gas
COMMENT
COMMENT
August 9, 2019
The allegation of the Chinese government manipulating its currency China supports the Yuan by pegging it to an official rate. The only way to push it down is for investors to sell the Chinese Yuan and demand the US dollar. But Chinese has so many currency controls about converting, so there's no real free flow. Meanwhile, international participants are wary about betting against China's next currency move. China has huge reserves of USD and can buy up their own Yuan.
The allegation of the Chinese government manipulating its currency China supports the Yuan by pegging it to an official rate. The only way to push it down is for investors to sell the Chinese Yuan and demand the US dollar. But Chinese has so many currency controls about converting, so there's no real free flow. Meanwhile, international participants are wary about betting against China's next currency move. China has huge reserves of USD and can buy up their own Yuan.
John Kim
Portfolio Manager, Aston Hill Financial
BUY
BUY
August 9, 2019
A great company. They need to cotninue acquisitions, and have opportunities here and abroad. If they do (and he expects it), they will continue to do well. This is especially good if you have a five-year horizon.
A great company. They need to cotninue acquisitions, and have opportunities here and abroad. If they do (and he expects it), they will continue to do well. This is especially good if you have a five-year horizon.
food stores
DON'T BUY
DON'T BUY
August 9, 2019
He owns no Canadian banks because of the housing climate here and the general economy. BNS is the most internationally exposed, but investors are worried about emerging markets given trade war tensions, which could escalate. If you have a 5-10-year horizon, you won't lose much with BNS, but you won't gain much either. His choice of bank is TD-T for its large U.S. presence.
He owns no Canadian banks because of the housing climate here and the general economy. BNS is the most internationally exposed, but investors are worried about emerging markets given trade war tensions, which could escalate. If you have a 5-10-year horizon, you won't lose much with BNS, but you won't gain much either. His choice of bank is TD-T for its large U.S. presence.
banks
WATCH
WATCH
August 9, 2019
A great company, but have reached saturation in Canada. So, they are investing into Central America. Their valuation has declined from historic highs, but it's still elevated. Investors are watching their Central America move. He once owned this.
A great company, but have reached saturation in Canada. So, they are investing into Central America. Their valuation has declined from historic highs, but it's still elevated. Investors are watching their Central America move. He once owned this.
Consumer Products
DON'T BUY
DON'T BUY
August 9, 2019
Fuel cells for cars Fuel cells have never been economical for carmakers, though they have been around for 30+ years. Toyota and other carmakers are still dabbling with it, because batteries on the e-car side are reaching their limits. Customers demand range. Toyota and the car sector are slumping globally--the economy is slow.
Fuel cells for cars Fuel cells have never been economical for carmakers, though they have been around for 30+ years. Toyota and other carmakers are still dabbling with it, because batteries on the e-car side are reaching their limits. Customers demand range. Toyota and the car sector are slumping globally--the economy is slow.
Automotive
COMMENT
COMMENT
August 9, 2019
Gold outlook He's not a gold bug and he owns none. His issue is that gold often doesn't react the way it's supposed to, though it is currently (market uncertainty). Charts of 10- and 20-years show gold going up and down, so he'd rather buy dividend stocks.
Gold outlook He's not a gold bug and he owns none. His issue is that gold often doesn't react the way it's supposed to, though it is currently (market uncertainty). Charts of 10- and 20-years show gold going up and down, so he'd rather buy dividend stocks.
John Kim
Portfolio Manager, Aston Hill Financial
PAST TOP PICK
PAST TOP PICK
August 9, 2019
(A Top Pick Jun 21/19, Up 2%) Hasn't sold any. Loves it. He'd name it a top pick again, but it's too soon. They just reported earnings with great free cash flow which will lead to share buybacks and dividend increases. Everything is on track here.
(A Top Pick Jun 21/19, Up 2%) Hasn't sold any. Loves it. He'd name it a top pick again, but it's too soon. They just reported earnings with great free cash flow which will lead to share buybacks and dividend increases. Everything is on track here.
Utilities
PAST TOP PICK
PAST TOP PICK
August 9, 2019
(A Top Pick Jun 21/19, Up 8%) He's not worried at all about pressures on wiring pricing in the States, and in fact expects more rational pricing to come with only three big players.
(A Top Pick Jun 21/19, Up 8%) He's not worried at all about pressures on wiring pricing in the States, and in fact expects more rational pricing to come with only three big players.
Telecommunications
PAST TOP PICK
PAST TOP PICK
August 9, 2019
(A Top Pick Jun 21/19, Up 10%) They just reported and raised their guidance. The integration with a health insurer is going well, so investors are relieved. It's at a super-low valuation. He expects a good return. The stock is down this year because of American politics threatening this sector.
(A Top Pick Jun 21/19, Up 10%) They just reported and raised their guidance. The integration with a health insurer is going well, so investors are relieved. It's at a super-low valuation. He expects a good return. The stock is down this year because of American politics threatening this sector.
specialty stores
BUY
BUY
August 9, 2019
Canadian vs. American banks (BAC, JPM) The Canadians trade at a premium (in book and PE terms) vs. Americans, and the 12-month outlook is better for Americans. BAC is cheaper than JPM and more domestically focused. Also, Citibank is cheaper than both of these, trading below book value with better protection to the down side.
Canadian vs. American banks (BAC, JPM) The Canadians trade at a premium (in book and PE terms) vs. Americans, and the 12-month outlook is better for Americans. BAC is cheaper than JPM and more domestically focused. Also, Citibank is cheaper than both of these, trading below book value with better protection to the down side.
Financial Services
COMMENT
COMMENT
August 9, 2019
He admires the CEO/founder, an astute buyer of tech companies. But the ENGH valuation is high, reflecting recent acquisitions. If the buying pauses, the multiple may shrink and the stock may go sideways. It depends on his acquisitions.
He admires the CEO/founder, an astute buyer of tech companies. But the ENGH valuation is high, reflecting recent acquisitions. If the buying pauses, the multiple may shrink and the stock may go sideways. It depends on his acquisitions.
computer software/processing
Comments
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