Opinions by Allan Meyer | StockChase
166
Allan Meyer

VP & Portfolio Manager

ON STOCKCHASE SINCE Apr 2004

Wickham Investment Counsel


Opinions by Allan Meyer


Signal Opinion Expert Chart

2016-04-01

N/A
A Comment -- General Comments From an Expert 

Economy. There could be 5 years of muted economic growth. We are looking at world growth slower than it has been historically, and demographics is part of the reason. Once you get the slower growth with the GNP, you are going to see that going back through the markets. Also doesn’t think there is going to be upward pressure on interest rates. His advice to investors is to look for good quality dividend paying companies.

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $0.020
Owned: _N/A

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2016-04-01

COMMENT
Barrick Gold (ABX-T)

Evaluating gold is next to impossible. Has made some tremendous mistakes in acquisitions and the write offs that they have had. He avoids gold companies generally.

precious metals
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $17.780
Owned: No

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2016-04-01

COMMENT
Algonquin Power & Utilities Corp (AQN-T)

This scores very well on his safety & value strategy. It doesn’t have an excessive amount of debt. However, analysts have been revising down their estimates recently, so he would avoid at this time.

electrical utilities
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $10.880
Owned: Unknown

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2016-04-01

COMMENT
Canadian National R.R. (CNR-T)

Has an analyst friend that recommends a Pair trade going Long on this and Shorting Canadian Pacific (CP-T), and he is going to defer to him that this rail looks good.

Transportation
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $81.120
Owned: Unknown

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2016-04-01

COMMENT
Concordia International Corp (CXR-T)

Has been caught up in the Valeant (VRX-T) downdraft. However, it is starting to look very interesting from a value proposition. If the earnings can be believed, it is less than 4X earnings, but they have a lot of debt. While it looks cheap on a Price/Book basis, the debt worries him. It might be a short-term buy, but for the long-term you have to really worry about the debt.

Pharma & Healthcare
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $33.100
Owned: Unknown

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2016-04-01

PAST TOP PICK
Dominion Diamond (DDC-T)

(A Top Pick May 14/15. Down 37.97%.) Sold his holdings shortly after at around $20.

precious metals
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $14.560
Owned: No

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2016-04-01

TOP PICK
Descartes (DSG-T)

Helps companies manage their complex supply chains. A little expensive on a PE basis at 18X, but has no debt. Reasonable free cash flow. This is a reasonable entry point and he can see more upside.

computer software/processing
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $25.720
Owned: Yes

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2016-04-01

HOLD
Enbridge (ENB-T)

Not one of his favourite stocks. Has a lovely 4% yield, but has a premium multiple, so is open to some disappointment. People are definitely flocking to pipelines and utilities, because of their dependability, and are bidding them up in price. He would not be buying any more at these levels. This would be a Soft Hold.

oil/gas pipelines
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $49.320
Owned: Unknown

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2016-04-01

TOP PICK
Information Services (ISV-T)

Has a 20-year exclusive mandate to provide land registry and affiliated services in Saskatchewan. Very, very inexpensive. Trading at 13X on a PE basis, and has something like a 10% free cash flow to enterprise value. Also, has a very low level of debt. Dividend yield of 5.68%.

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $14.400
Owned: Yes

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2016-04-01

DON'T BUY
Liquor Stores N. A. (LIQ-T)

Very tied to the Alberta economy, so it is under a lot of pressure. Wouldn’t go in at this time. He also has some balance sheet concerns.

merchandising/lodging
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $8.020
Owned: No

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2016-04-01

BUY
Linamar Corp (LNR-T)

Reasonable debt levels, low P/E and good cash flow. Magnificently well run. Loves this company and what they are doing.

transportation equip & components
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $62.440
Owned: Yes

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2016-04-01

PAST TOP PICK
Magna Int'l. (A) (MG-T)

(A Top Pick May 14/15. Down 16.74%.) It swooned because of the trade agreement we had and people’s concerns about auto sales. Currently it is dirt cheap. Thinks there is great, great value here. Still a Hold. Dividend yield of around 4%.

Automotive
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $54.500
Owned: Yes

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2016-04-01

COMMENT
Open Text (OTEX-T)

Trading at less than 3X Price to Book. Looks attractive on a P/E basis and has great free cash flow value to enterprise value. Likes in the short term, but wouldn’t treat this as a hold for 5 – 10 years.

computer software/processing
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $67.380
Owned: Unknown

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2016-04-01

COMMENT
Power Corp (POW-T)

Trading at around 10X earnings, so it is not expensive. Has a reasonable dividend. However, it doesn’t look like it has any earnings momentum. It is probably going to sit, doing very little at this point. You are probably in a sideways market unless they can do something to rejuvenate the earnings and get them going up, so you are probably sitting with dead money. Dividend yield of 4.2%.

mngmnt/diversified
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $29.860
Owned: Unknown

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2016-04-01

COMMENT
Pembina Pipeline Corp (PPL-T)

This is a little bit expensive on a P/E basis. Got hurt with the lower oil prices, but has some great growth opportunities. Wouldn’t have any concerns with the dividends on this. Dividend yield of about 4%.

pipelines
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $34.290
Owned: No

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2016-04-01

BUY
Quarterhill Inc (QTRH-T)

(Market Call Minute.) Very, very inexpensive on a PE basis. It has no debt. Free cash flow is something like 27%.

electrical/electronic
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $2.950
Owned: Yes

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2016-04-01

PAST TOP PICK
Ritchie Bros Auctioneers Inc. (RBA-T)

(A Top Pick May 14/15. Up 3.6%.) A little expensive on a PE and Price to Book basis, but has very little debt. Really good free cash flow. Dividend yield of around 2.6%.

specialty stores
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $35.270
Owned: Yes

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2016-04-01

COMMENT
Transalta Renewables (RNW-T)

This is in his Safety & Value Strategy fund. Has a free cash flow yield of 5% to enterprise value.

Energy Infrastructure, Industrials & Utilities
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $12.700
Owned: Yes

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2016-04-01

COMMENT
Royal Bank (RY-T)

Wait until after earnings in case low energy prices have trickled down? He likes the banks. Great dividends of around 4% and great opportunities to increase dividends by 5%-7%. Thinks concerns on bad loans due to oil prices is getting a little overdone. They have been setting money aside to deal with bad loans.

banks
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $75.100
Owned: Unknown

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2016-04-01

DON'T BUY
Saputo Inc. (SAP-T)

(Market Call Minute.) A little bit high on a PE basis. In the near term, he would be careful about going into this. Very, very well-managed and are setting themselves up for the long-term, but it doesn’t rate well for him at this time.

food processing
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $40.900
Owned: No

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2016-04-01

COMMENT
Surge Energy Inc (SGY-T)

You need a positive outlook on energy. Looking at the pricing curve, he is seeing $50 out in a year or 2. Some people are predicting production will have dropped enough that inventories will be down by the end of this year, leading to higher oil prices. Companies like this are already reflecting $50-$60 prices for oil. His concern is whether these companies will be around long enough. This company has more debt than he would like, so he is avoiding these companies. Too risky for him.

oil/gas
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $2.060
Owned: No

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2016-04-01

COMMENT
Sun Life Financial Inc (SLF-T)

Sun Life or Canadian banks? He likes this on a valuation basis. The PE is similar to the banks. Free cash flow to EBITDA is something like 18%. This will be affected by interest rates more so than the banks.

insurance
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $41.850
Owned: Yes

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2016-04-01

DON'T BUY
SNC-Lavalin Group Inc. (SNC-T)

Would stay away from this. There is some good value in the company, but when you have the RCMP coming in the door and collecting records, he is uncomfortable with that.

contractors
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $47.020
Owned: Unknown

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2016-04-01

BUY
Tricon Capital Group (TCN-T)

(Market Call Minute.) Favours this for the long-term. It has swooned over the last few months, and thinks this is really good value here. It gives you exposure to the US housing and rental market.

REAL ESTATE
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $8.880
Owned: Yes

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2016-04-01

COMMENT
Toronto Dominion (TD-T)

Wait until after earnings in case low energy prices have trickled down? He likes the banks. Great dividends of around 4% and great opportunities to increase dividends by 5%-7%. Thinks concerns on bad loans due to oil prices is getting a little overdone. They have been setting money aside to deal with bad loans.

banks
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $56.100
Owned: Unknown

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2016-04-01

COMMENT
Tourmaline Oil Corp (TOU-T)

You have to like natural gas and the energy area, and that you are going to see some recovery. If he were going to be buying an oil or gas company, this would be in the top 4 of choices. They are very good at keeping their costs down.

oil/gas
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $26.000
Owned: Yes

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2016-04-01

TOP PICK
Valener Inc. (VNR-T)

This gives you a play on Gaz Metro, the big Quebec gas utility. Likes the dependable, forecastable nature of its gas distribution. Has 7% free cash flow Enterprise Value. Dividend yield of 5.25%.

pipelines
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $20.780
Owned: Yes

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2016-04-01

COMMENT
Vanguard MSCI U.S. Broad Mkt ETF Cdn Hedge (VUS-T)

He likes the US market, and you are getting the broadest exposure with this instrument. Vanguard is noted for having some of the lowest MERs. Their hedging is very reasonable. Unfortunately that hedging didn’t help you last year.

E.T.F.'s
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $40.980
Owned: Unknown

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2016-04-01

BUY on WEAKNESS
BMO Equal Weight REITs Index (ZRE-T)

(Market Call Minute.) He generally thinks that REITs are great. Have increased recently, but have been undervalued for a long time. Feels they may pull back in the short term, and he would Buy on the dip.

E.T.F.'s
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $18.920
Owned: No

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2016-04-01

COMMENT
BMO Covered Call Cdn Banks ETF (ZWB-T)

This gets extra income from writing Calls options on the banks. If you do have a good run on a bank, you can get called out and not capture the full upside. Good dividend which is targeted, rather than having fully earned it.

E.T.F.'s
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $15.980
Owned: Unknown

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2016-02-05

N/A
A Comment -- General Comments From an Expert 

Markets. We are in a lower growth environment and people are going to have to ratchet their expectations down. The Canadian market has been dramatically affected by the oil price, not only affecting the auto sector, but bank stocks as well. Thinks we are in to a new era where we have a lower growth. We are in an aging demographic where people are saving more. He loves dividend paying stocks. Rather than the volatility, he prefers more of the good old steady Eddie, and dividends are a big focus for him. Likes technology for finding safe value companies, especially in the US.

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $0.020
Owned: _N/A

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2016-02-05

COMMENT
A Comment -- General Comments From an Expert 

High-yield ETF Bond Funds such as XHY-T or ZHY-T? These have come under a lot of pressure recently because 20% of these funds are in oil/gas related industries, and there is a lot of concern that these companies are going to fail and not be able to make their payments on their debts. He has not seen any evidence of that. Default rates are not anywhere near high levels. This is an area that could do significantly better if oil prices stabilize.

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $0.020
Owned: Yes

Must be logged in to use chart

2016-02-05

COMMENT
Altagas Ltd (ALA-T)

They have more and more operations trying to ship LNG out of the West Coast of the US. Nothing wrong with the company. This has been lumped in with the energy sector, so seems to have been hurt by that comparison. Have long “take or pay” contracts, so the operations are very stable. Prefers Inter Pipeline (IPL-T). Great yield of 6.25%.

oil/gas
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $31.700
Owned: Unknown

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2016-02-05

HOLD
Algonquin Power & Utilities Corp (AQN-T)

(Market Call Minute.) Doesn’t know this one very well.

electrical utilities
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $11.980
Owned: No

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2016-02-05

BUY
Aecon Group Inc (ARE-T)

(Market Call Minute.) Safe and would buy it.

contractors
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $14.270
Owned: Yes

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2016-02-05

BUY
BCE Inc. (BCE-T)

Just reported and are increasing their dividend. This stock almost fits everybody. Great business and good management. Yield of 4.7%.

telephone utilities
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $58.160
Owned: Unknown

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2016-02-05

BUY
Bird Construction Income Fund (BDT-T)

(Market Call Minute.) This is engineering and there is going to be more money coming from the federal government into this area.

REAL ESTATE
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $11.950
Owned: Yes

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2016-02-05

DON'T BUY
Crescent Point Energy Corp (CPG-T)

They had said their dividend was safe, and then followed that by cutting it. Based on where we are with current oil prices, they may have to cut the dividend again. At these levels they are barely covering their cash costs, and are not able to spend enough money on maintaining their production to capital expenditures.

oil/gas
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $15.150
Owned: No

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2016-02-05

COMMENT
Canadian Solar Inc. (CSIQ-Q)

Solar panel manufacturer. A Canadian company with operations in Canada, but is basically a US company. They get a lot of their product out of China. However, there are a lot of strange cross currents. Very difficult to get information on this company. Very volatile.

other mines
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $19.440
Owned: No

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2016-02-05

PAST TOP PICK
Dominion Diamond (DDC-T)

(A Top Pick May 14/15. Down 32.85%.) Sold his holdings at $20, so his clients made money.

precious metals
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $15.650
Owned: No

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2016-02-05

COMMENT
Emera Inc (EMA-T)

Ranks well in his program, but so far they haven’t had much earnings growth. Prefers others. Dividend yield of 4.2%.

mngmnt/diversified
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $45.960
Owned: No

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2016-02-05

COMMENT
Hydro One (H-T)

He stays away from new issues. It’s an area where you have increased risks. There is no history with management or how it is going to react in the market. Doesn’t rank well in his program being in the bottom quartile, partially because it doesn’t have any history.

electrical utilities
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $23.120
Owned: No

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2016-02-05

DON'T BUY
Kelt Exploration (KEL-T)

Thinks oil is close to a bottom and you can start picking your favourites out, but he would not be buying oil/gas companies right now. We still have an extended period of time, maybe the rest of the year, before we have a sustained movement up. This is not a bad company and has a decent track record, but these companies are not making money.

oil/gas
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $3.750
Owned: No

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2016-02-05

TOP PICK
Linamar Corp (LNR-T)

Low debt, good interest coverage and has a 7-8 times on a price to earnings basis going forward. Also, has good free cash flow which can be used to increase the dividend, buy back shares or make an acquisition. Dividend yield of 0.76%.

transportation equip & components
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $52.720
Owned: Yes

Must be logged in to use chart

2016-02-05

PAST TOP PICK
Magna Int'l. (A) (MG-T)

(A Top Pick May 14/15. Down 31.18%.) Even though there has been a significant drop in the share price, he doesn’t have a Sell signal from analysts decreasing their earnings estimates. Trading at around 7X earnings and has a very low debt to equity. Still a Buy.

Automotive
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $45.480
Owned: Yes

Must be logged in to use chart

2016-02-05

TOP PICK
Metro Inc (A) (MRU-T)

Trading around its market multiple on earnings, so is pretty comfortable with it. It also has a low debt level and good interest coverage. For uncertain times, this is a nice stable area where you won’t see a huge amount of fluctuation in their revenue or earnings. 1.36% dividend yield.

food stores
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $41.090
Owned: Yes

Must be logged in to use chart

2016-02-05

PAST TOP PICK
Ritchie Bros Auctioneers Inc. (RBA-T)

(A Top Pick May 14/15. Down 6. 76 %.) This is still a Buy. Has a free cash flow to enterprise value of over 11%. Very low debt level and a healthy dividend.

specialty stores
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $32.000
Owned: Yes

Must be logged in to use chart

2016-02-05

TOP PICK
Transalta Renewables (RNW-T)

The parent company Transalta (TA-T) keeps pushing their stuff down, and doesn’t want to see them get into any trouble. Owns wind farms and some Hydro operations. Payout is high at 90%, but he is not concerned about the dividend. Dividend yield of 8.64%.

Energy Infrastructure, Industrials & Utilities
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $10.320
Owned: Yes

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2016-02-05

BUY
Student Transport of America Ltd. (STB-T)

Ranks very well in his program. Has had very good earnings growth and reasonable coverage on their interest payments. Dividend yield of 12%.

Transportation
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $5.110
Owned: Unknown

Must be logged in to use chart

2016-02-05

BUY
Telus Corp (T-T)

(Market Call Minute.) At $40 or lower, this is a great buy.

telephone utilities
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $40.450
Owned: Unknown

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2016-02-05

COMMENT
Tricon Capital Group (TCN-T)

A real estate manager with over $2 billion worth of a wide range of properties in the US. Everything from single family homes to some lower cost properties. Has a decent dividend. He likes this company. Has underperformed recently and is not sure if this is just going down with the real estate sector or something to do with the oil prices. Vacancy rate is well under 10% for their properties.

REAL ESTATE
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $8.310
Owned: Yes

Must be logged in to use chart

2016-02-05

BUY
Toronto Dominion (TD-T)

Banks have come off 5%-17% from their recent highs, and this is a great buying opportunity. You are getting them well below market multiples. He prefers using the BMO S&P TSX Equal Weight Bank Index (ZEB-T).

banks
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $52.400
Owned: Unknown

Must be logged in to use chart

2016-02-05

BUY
Valener Inc. (VNR-T)

(Market Call Minute.) Loves this. A nice stable business.

pipelines
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $19.720
Owned: Yes

Must be logged in to use chart

2016-02-05

COMMENT
Winpak Ltd. (WPK-T)

Likes this company. No debt. Has a market multiple, so is not cheap, but has been a great performer over the last year. Good free cash flow to enterprise value.

packaging/containers
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $42.590
Owned: Yes

Must be logged in to use chart

2016-02-05

BUY
BMO Low Volatility US Equity ETF (ZLU-T)

BMO has a great suite of ETF’s. This one has done very, very well. You can buy this and set it aside, and you are going to do well.

E.T.F.'s
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $28.690
Owned: Unknown

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2015-11-24

N/A
A Comment -- General Comments From an Expert 

Markets. US stocks look more promising than Canadian over the next year and perhaps even longer. GDP growth in the US is about twice as much as the Canadian, which is a tailwind that will favour the US market. Also, valuations are pretty attractive in the US market. It is hard to get excited about Canada when the metals are under pressure. On oil and gas, we are starting to see the light at the end of the tunnel. Banks although favoured are still under pressure.

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $0.020
Owned: _N/A

Must be logged in to use chart

2015-11-24

BUY
Alaris Royalty (AD-T)

Great company. Selling at less than 13X on a earnings basis and the debt is very, very low. Also, pays a decent dividend. Earnings have been a little disappointing, but think that is a short term blip. Have a very well thought out strategy for delivering earnings to the companies. A great entry point.

Financial Services
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $24.600
Owned: Yes

Must be logged in to use chart

2015-11-24

TOP PICK
Bird Construction Income Fund (BDT-T)

Has a below market multiple at about 15X. They have about $4 per share in cash. Analysts keep on increasing their estimates to catch up to what the company is actually doing. 5.5% dividend yield.

REAL ESTATE
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $13.940
Owned: Yes

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2015-11-24

HOLD
Canadian Oil Sands (COS-T (Acquired)

Should the offer from Suncor (SU-T) be accepted? He thinks Suncor is going to do a better job with those assets than Canadian Oil Sands. This is very opportunistic of Suncor to be doing this at this time. Doesn’t expect there will be a better offer coming. There aren’t a lot of companies that can buy an asset this size.

oil/gas
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $8.820
Owned: Unknown

Must be logged in to use chart

2015-11-24

COMMENT
Dividend 15 Split Corp. (DFN-T)

This is kind of a leveraged play on high yielding common share. Some of them are really good.

investment companies/funds
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $10.840
Owned: Unknown

Must be logged in to use chart

2015-11-24

TOP PICK
DH Corporation (DH-T (Dead))

(A Top Pick July 22/15. Down 18.83%.) Got hit by Shorts from a hedge fund, which was unwarranted. Management did a fairly good job of fending off their criticism. Have been aggressively paying down their debt. Dividend yield of 3.83%.

other services
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $33.270
Owned: Yes

Must be logged in to use chart

2015-11-24

COMMENT
Dollarama Inc. (DOL-T)

Would you average up? He loves this company. It has a pretty high PE ratio, so if they should disappoint on their earnings as some point, you could see a pretty good correction. Have been delivering on the results and have done a wonderful job. He would hesitate to average up at this point.

Consumer Products
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $89.090
Owned: No

Must be logged in to use chart

2015-11-24

COMMENT
Enbridge (ENB-T)

Debt levels to equity are way too high for his portfolios. He is a little concerned about how they have low interest coverage at this point. A great, stable business, but paying out a little bit more on the dividend, so the payout level is high. They either have to grow the business or cut the dividend.

oil/gas pipelines
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $48.710
Owned: No

Must be logged in to use chart

2015-11-24

COMMENT
Great West Lifeco (GWO-T)

Great West Life (GWO-T), Manulife (MFC-T) or Sun Life (SLF-T) for the best upside? That’s a tough question, because he likes all 3. Insurance companies will do well in the economy he sees going forward. Lifecos have a little bit more torque on the upside with rising interest rates. Right now Manulife would be his favourite.

insurance
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $35.590
Owned: Yes

Must be logged in to use chart

2015-11-24

COMMENT
Hudson Bay Co. (HBC-T)

This is like having 2 faces. One side retail and one side real estate. It looks like it is reasonable value on a real estate basis, and that you are buying the rest of the operations for free. Doesn’t rank really well on a P/E basis as a retailer, but as real estate it looks quite reasonable. Analysts have been increasing their estimates on this. Looks interesting here.

department stores
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $21.040
Owned: No

Must be logged in to use chart

2015-11-24

COMMENT
Manulife Financial (MFC-T)

Great West Life (GWO-T), Manulife (MFC-T) or Sun Life (SLF-T) for the best upside? That’s a tough question, because he likes all 3. Insurance companies will do well in the economy he sees going forward. Lifecos have a little bit more torque on the upside with rising interest rates. Right now this would be his favourite.

insurance
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $21.750
Owned: Yes

Must be logged in to use chart

2015-11-24

COMMENT
Magna Int'l. (A) (MG-T)

There has been some weakness recently and it looks like there is some very good value at this point.

Automotive
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $59.410
Owned: Yes

Must be logged in to use chart

2015-11-24

TOP PICK
Genworth MI Canada Inc. (MIC-T)

Default mortgage insurance providers.  Likes the dividend yield of 5.66%. Cheap on a PE basis at about 8X. Also, trading below BV. There is a large Short position on this, which could result in a very nice upside as the Shorts are focusing too much on the valuation of the housing market. There are definitely pockets in Toronto and Vancouver, but doesn’t feel this is a problem for this company.

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $29.680
Owned: Yes

Must be logged in to use chart

2015-11-24

PAST TOP PICK
Richelieu Hardware (RCH-T)

(A Top Pick July 22/15. Up 8.28%.) This does the supplying into retail hardware stores.

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $70.650
Owned: Yes

Must be logged in to use chart

2015-11-24

BUY
Royal Bank (RY-T)

Hold or switch to a US bank? You have to have some Canadian banks and this is one that he would definitely be buying. Doesn’t think the banks are going to give us spectacular growth, but they will give us solid performance. You will see dividend increases going forward.

banks
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $75.260
Owned: Yes

Must be logged in to use chart

2015-11-24

COMMENT
Sun Life Financial Inc (SLF-T)

Great West Life (GWO-T), Manulife (MFC-T) or Sun Life (SLF-T) for the best upside? That’s a tough question, because he likes all 3. Insurance companies will do well in the economy he sees going forward. Lifecos have a little bit more torque on the upside with rising interest rates. Right now Manulife would be his favourite.

insurance
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $43.740
Owned: Yes

Must be logged in to use chart

2015-11-24

COMMENT
Superior Plus Corp (SPB-T)

Has a pretty healthy PE ratio. Dividend yield of 7%+ and ranks pretty well on his metrics. However, analysts have been bringing their estimates down recently, so he would be careful in the short term.

wholesale distributors
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $10.240
Owned: No

Must be logged in to use chart

2015-11-24

DON'T BUY
Student Transport of America Ltd. (STB-T)

Not a fan of this. Ranks reasonably well. Has such a large P/E ratio that he has been scared off. Book Value has been written down to practically nothing. Analysts have been cutting back on their estimates too, so be careful.

Transportation
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $5.440
Owned: No

Must be logged in to use chart

2015-11-24

COMMENT
Telus Corp (T-T)

Great company. Probably a little bit growthier than some of the others. On his Safety & Value strategy, it rates very, very well, probably in the top quartile of the names that he is looking at.

telephone utilities
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $41.330
Owned: Yes

Must be logged in to use chart

2015-11-24

COMMENT
Tourmaline Oil Corp (TOU-T)

Over 80% in natural gas. If you have a longer timeframe, this is definitely one of those companies he would consider buying if natural gas prices turn up. Well managed. They keep their cost structure way down. It might be a year before you see any movement in natural gas prices.

oil/gas
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $25.730
Owned: Unknown

Must be logged in to use chart

2015-11-24

COMMENT
Valeant Pharmaceuticals (VRX-T)

Domiciled in Canada, but the vast majority of their sales are outside of Canada. Forward PE is trading at 8 times, but trailing more than 30 times. Hopefully they will be able to continue delivering on results and will grow into their multiple. One of his concerns is that they make a lot of acquisitions. Management has explained how they are very disciplined in doing that, and they seem to have a well thought out strategy. However, wonders about the skeletons in the closets that they don’t know about and only find out afterwards. Tends to stay away from companies that make lots of acquisitions.

Consumer Products
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $116.360
Owned: No

Must be logged in to use chart

2015-11-24

PAST TOP PICK
Winpak Ltd. (WPK-T)

(A Top Pick July 22/15. Up 5.45%.) One of the best performers that he has had. A global play on food packaging. Insiders own a significant part of the company.

packaging/containers
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $43.860
Owned: Yes

Must be logged in to use chart

2015-11-24

HOLD
Westshore Terminals Inc. (WTE-T)

Large coal export facility in BC. Just cut their dividend because the coal business is in trouble. This rates pretty high in his ratings. It has a low PE. China does need our metallurgical coal, so they will utilize these terminals.

investment companies/funds
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $18.970
Owned: Yes

Must be logged in to use chart

2015-11-24

HOLD
BMO S&P/TSX Laddered Preferred (ZPR-T)

This gives great diversification with a higher dividend and gives you instant diversification with hundreds of preferred shares. He likes the ladder component. As interest rates rise, you are going to have shares redeemed and invested at a higher rate. However, as interest rates have stayed lower longer than expected, we are now starting to get resets at a much lower level. Preferreds have come under tremendous pressure. Probably overdone in the short term and have gone down to very low values.

E.T.F.'s
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $10.540
Owned: Yes

Must be logged in to use chart

2015-11-24

COMMENT
BMO NASDAQ 100 Equity Hedged-Cdn$ (ZQQ-T)

He likes to hedge to the Cdn$ where he can. With the currency the way it is, you can lose or gain 10% very quickly. He likes to remove the currency risk if he can.

E.T.F.'s
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $36.140
Owned: Yes

Must be logged in to use chart

2015-11-24

BUY
BMO Covered Call Cdn Banks ETF (ZWB-T)

High quality product. Great diversification. He favours this as an investment going forward.

E.T.F.'s
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $16.110
Owned: Unknown

Must be logged in to use chart

2015-09-10

N/A
A Comment -- General Comments From an Expert 

Markets.  He expects the returns to be lower and to be the new norm.  We have slower growth and perhaps longer cycles.  5-7% is what he expects from the markets.  Jobs numbers are rising and the wages that big companies pay are rising, e.g. MacDonald’s.  We added a lot of good jobs to the economy.  He thinks confidence may result in people spending some of the money they were saving.  It is a head scratcher that we have not seen more growth after the 2008 stimulus globally.  The US economy is doing fine.  In Canada our debt has increased, but our assets have increased at a faster rate.  Our debt is affordable because interest rates are so low.  His strategy is high quality dividend stocks. 

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $0.020
Owned: _N/A

Must be logged in to use chart

2015-09-10

N/A
A Comment -- General Comments From an Expert 

Split Shares.  They are an unusual investment.  They take a portion and say that is the ‘preferred’ part, and then the rest is the capital appreciation.  They have no risk of capital.  You get the change in the underlying equity magnified.  They are not well covered by the street.  You have to have a good advisor who knows how to use this in your portfolio.

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $0.020
Owned: _N/A

Must be logged in to use chart

2015-09-10

TOP PICK
Alaris Royalty (AD-T)

6% yield.  A royalty company run by a CEO who is a CFA.  The fluctuations in revenue don’t fall outside of their boundaries.  They increased their dividend over the last two years, monthly.  It looks attractive here.

Financial Services
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $27.320
Owned: Yes

Must be logged in to use chart

2015-09-10

WATCH
Ag Growth International Inc (AFN-T)

He used to own it, but it got kicked out of his portfolio.  They are exposed to the growing cycle with the crops.  They are now exposed to South America.

machinery
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $37.910
Owned: No

Must be logged in to use chart

2015-09-10

BUY
Brookfield Asset Management (A) (BAM.A-T)

He also has the subsidiary companies.  He likes that you get exposure to private equity markets through a public vehicle.  You will make money on these companies over 5 years.  You have some of the smartest people around on this.  They have various narrow focuses and don’t stray into uncharted areas.

management/diversified
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $40.870
Owned: Yes

Must be logged in to use chart

2015-09-10

TOP PICK
Bank of Nova Scotia (BNS-T)

Whenever a bank falls 20% from its peak it is an excellent buying opportunity.  Yields 4.8% with a history of increasing dividends.  He is thinking of borrowing to invest in these types of companies.  It has a good payout ratio.

banks
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $58.690
Owned: Yes

Must be logged in to use chart

2015-09-10

BUY
Canadian Tire Corporation Ltd (CTC-T)

This is one of the companies in his safety and value portfolio.  Valuations are okay, 15 times and he does not expect huge increases in earnings.  They are in great shape on a balance sheet.  He has had no sell signals.  They are showing good quarterly earnings momentum.

specialty stores
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $220.000
Owned: Yes

Must be logged in to use chart

2015-09-10

DON'T BUY
Concordia International Corp (CXR-T)

They are like a mini Valiant.  They are buying some of the operations of the companies that are into drugs that have come off patent.  He is cautious.  There could be skeletons in the closet.

Pharma & Healthcare
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $96.930
Owned: No

Must be logged in to use chart

2015-09-10

PAST TOP PICK
DH Corporation (DH-T (Dead))

(Top Pick Jul 22/15, Down 2%) It is good to see that the fundamentals still come back.  They did an acquisition in the US earlier this year that gets them away from the cheque business.  They are now more exposed to US banks.

other services
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $40.740
Owned: Yes

Must be logged in to use chart

2015-09-10

WATCH
Freehold Royalties (FRU-T)

It depends on your time frame whether you hold or sell.  You have to sell if you have a short term view.  Until oil prices improve and get them higher royalties, it is one of the more solid companies out there.  He has no exposure to this industry at this time.

oil/gas
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $10.210
Owned: No

Must be logged in to use chart

2015-09-10

BUY
Hudson Bay Co. (HBC-T)

This could be an interesting play going forward.  It popped mostly on real estate news.  They made an acquisition that extended their operations into Europe.

department stores
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $23.800
Owned: No

Must be logged in to use chart

2015-09-10

TOP PICK
Linamar Corp (LNR-T)

One of his favourites.  He wonders if they are coming under pressure with trade deals.  High Quality, low debt levels with high growth potential.  It is a good opportunity to buy this one.

transportation equip & components
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $67.290
Owned: Yes

Must be logged in to use chart

2015-09-10

BUY
Magna Int'l. (A) (MG-T)

It is one of his top thirty names.  The PE is under 10 times.  There was negative press about trade agreements that put some pressure on MG-T and LNR-T, but they are a high quality company with low debt.  It is one of the best companies he can find out there.

Automotive
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $64.660
Owned: Yes

Must be logged in to use chart

2015-09-10

PAST TOP PICK
Richelieu Hardware (RCH-T)

(Top Pick Jul 22/15, Up 1.24%) They are not your normal hardware company.  They supply to hardware warehouse retail stores.  They have a little higher multiple than he looks for, but the debt is very, very low.

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $66.990
Owned: Yes

Must be logged in to use chart

2015-09-10

BUY
Stantec Inc (STN-T)

Prefers over SNC-T because the RCMP is not marching into their offices.  It is one of the companies in his safety and value strategy.  He just bought ARE-T as well.

consulting
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $30.390
Owned: Yes

Must be logged in to use chart

2015-09-10

DON'T BUY
Suncor Energy Inc (SU-T)

We are getting a lot closer in this industry, but he is cautious with this one now.  It is expensive on a PE basis.  They are having problems with some of their operations and there is negative publicity about the oil sands.

integrated oils
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $35.030
Owned: No

Must be logged in to use chart

2015-09-10

DON'T BUY
Sandvine Corp. (SVC-T (Dead))

The earnings came in lower than expected.  The sales pipeline is taking longer on these larger contracts. but the market will only be so patient.  The debt is not excessive and they show up as good value, but pushing out contracts concerns him.  It might get taken out and the cash flow is very attractive.

computer software/processing
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $2.530
Owned: Unknown

Must be logged in to use chart

2015-09-10

WATCH
Trican Well Service Ltd. (TCW-T)

A leveraged play on the oil and gas companies.  They have to do more for less.  When you get a turn on the oil price, these are one of the guys that are a warrant on the industry.  You have to do it at the right time.

oil/gas field services
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $1.690
Owned: Unknown

Must be logged in to use chart

2015-09-10

PAST TOP PICK
Winpak Ltd. (WPK-T)

(Top Pick Jul 22/15, Down 8.47%) The weaker Canadian dollar should be beneficial to them.  It has had wonderful performance over the last few years.  It has decent forward cash flow.  They basically don’t have any debt.  It may be a buying opportunity at these levels.

packaging/containers
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $39.630
Owned: Yes

Must be logged in to use chart

2015-09-10

COMMENT
iShares S&P/TSX Capped Comp. ETF (XIC-T)

Exposure to a broad market.  It is well disposed toward someone who is a trader.  For an investor, he would recommend XSP-T.  You take away the currency risk. 

E.T.F.'s
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $21.590
Owned: Unknown

Must be logged in to use chart

2015-09-10

BUY
BMO Equal Weight Bank ETF (ZEB-T)

The 6 big banks over the long term are one of the best areas to go into.  He likes equal weight and likes CEW-T because of the insurance companies but this one is good.  TD-T, BNS-T and RY-T are his favourites if you don’t like an ETF.

E.T.F.'s
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $21.070
Owned: Unknown

Must be logged in to use chart

2015-07-22

N/A
A Comment -- General Comments From an Expert 

Markets. Thinks we are going to have a slow environment and the market is going to continue to be slow. We probably are in a recession even though the finance minister says we are not. We are going to have growth this year, but it is going to be pretty anemic. You have to ratchet back your expectations. Fortunately the US is strong and is leading the way. The good news is that as our dollar drops, we get to export more. The trouble is that there is a lag effect, so it will take a little while before we see the full benefit of a lower Cdn.$ responding into more exports into the US market. Asset allocation is your single most important idea. Right now fixed income is off the table.

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $0.020
Owned: _N/A

Must be logged in to use chart

2015-07-22

COMMENT
Barrick Gold (ABX-T)

He is not a fan of gold. It doesn’t pay a dividend and is more of an emotional item. Supposedly the breakdown in gold is because the Chinese are not buying as much. Also, this company has a lot of debt and are trying to sell off assets.

precious metals
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $9.590
Owned: No

Must be logged in to use chart

2015-07-22

COMMENT
BlackBerry (BB-T)

This makes his list because it doesn’t have excess of debt, but it ranks in the bottom half of all the companies that he looks at. It wouldn’t be on his list of companies that he would be buying. There is no dividend. They seem to be really working hard to surface the value of the company.

electrical/electronic
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $10.040
Owned: No

Must be logged in to use chart

2015-07-22

COMMENT
Bombardier Inc (B) (BBD.B-T)

Preferred dividends? There was a downward movement in the stock today. They had a conference call with their treasurer to talk about liquidity concerns. Preferred shares would be one of the last places where they would want to cut the dividend. You are protected a little bit, but they could cut those dividends as some point.

transportation equip & components
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $1.690
Owned: Unknown

Must be logged in to use chart

2015-07-22

COMMENT
Baytex Energy Corp (BTE-T)

Great company, but he is staying away energy. It could be quite a while yet. Looking for oil to maintain at around $48.

oil/gas
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $13.770
Owned: No

Must be logged in to use chart

2015-07-22

COMMENT
iShares Equal Weight Bank & Lifeco ETF (CEW-T)

Canadian Banks? Has been tempering his love of the Canadian banks through this ETF which holds lifecos as well. Canadian banks have been down this year, but they have great yields on them and are great at cost cutting.

E.T.F.'s
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $10.040
Owned: Yes

Must be logged in to use chart

2015-07-22

COMMENT
Crescent Point Energy Corp (CPG-T)

One of the better companies. Likes what they are doing. Good strong control. Picking up some of the weaker companies. The trouble is, you have low oil prices. Hopefully their hedges last long enough that they don’t have to start worrying about the current prices of oil. They have been able to hold their dividend in. There is a lot of pressure on oil. He is looking for oil to maintain at around $48. He is not a fan of oil and gas.

oil/gas
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $21.000
Owned: No

Must be logged in to use chart

2015-07-22

COMMENT
Canadian Tire Corporation Ltd. (A) (CTC.A-T)

This company has been amazing. They have done really, really well. They got the Forzani group. Have spun off the real estate trying to recognize some of the value. Have had a lot of competition over the years but they seem to rise to the top. The only trouble is, they don’t have the dividend yield that the banks have.

specialty stores
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $131.440
Owned: Unknown

Must be logged in to use chart

2015-07-22

PAST TOP PICK
Dominion Diamond (DDC-T)

(A Top Pick May 14/15. Down 30.11%.) They reported disappointing earnings and the analysts quickly ratcheted down their estimates. Sold his holdings.

precious metals
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $16.600
Owned: No

Must be logged in to use chart

2015-07-22

TOP PICK
DH Corporation (DH-T (Dead))

One of the companies that was able to make the transition from the old type of technology. They are now considered more like a financial services tech company. Made an acquisition using the cash they had as well as some debt. Still have a reasonable amount of debt to equity. Still thinks it has momentum behind it. Yield of 3.09%.

other services
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $41.550
Owned: Yes

Must be logged in to use chart

2015-07-22

COMMENT
Medical Facilities Corp. (DR-T)

A Canadian listed company with operations only in the US. Earnings are in US dollars. Great yield of almost 8% and very good cash flow.

other services
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $14.210
Owned: Yes

Must be logged in to use chart

2015-07-22

HOLD
Gibson Energy (GEI-T)

This doesn’t rate very well in his strategies, and yet it is a good dividend payer. You are exposed to the activity in the oil/gas area, not so much the oil/gas prices. If you own, he would be tempted to stay with this even though it rates so low. Doesn’t feel the dividend is going to get cut at this point.

pipelines
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $19.590
Owned: Unknown

Must be logged in to use chart

2015-07-22

COMMENT
Hudson Bay Co. (HBC-T)

They acquired a German company, and then sold off the real estate for basically the purchase price. He thinks management has been brilliant. They are now introducing some of the Saks stores into the Hudson Bay as well. It ranks in the 1st quartile of his Safety/Value strategy.

department stores
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $27.080
Owned: Unknown

Must be logged in to use chart

2015-07-22

COMMENT
Manulife Financial (MFC-T)

He likes this one. You see interest rates go up, this is one of the companies that should do fairly well. Below the market multiple at about 13.5X price to earnings. Dividend yield of about 2.5%.

insurance
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $23.400
Owned: Yes

Must be logged in to use chart

2015-07-22

PAST TOP PICK
Magna Int'l. (A) (MG-T)

(A Top Pick May 14/15. Up 4.71%.) Is still quite pleased with this. A good performer. They recently did an acquisition of a German company, so they are using up a little bit of their cash hoard. It still rates very, very well. Relatively inexpensive.

Automotive
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $70.260
Owned: Yes

Must be logged in to use chart

2015-07-22

PAST TOP PICK
Ritchie Bros Auctioneers Inc. (RBA-T)

(A Top Pick May 14/15. Down 0.14%.) This still rates very well in his ranking and still looks like very good value. Has decent free cash flow of about 6%. They are earning lots of money to cover their interest payments.

specialty stores
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $34.170
Owned: Yes

Must be logged in to use chart

2015-07-22

TOP PICK
Richelieu Hardware (RCH-T)

Not really a hardware store, but they supply hardware to various things. Import a lot and manufacture and distribute specialty hardware. It does have free cash flow and net cash on the balance sheet. Strong balance sheet. Dividend yield of 0.83%.

Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $66.000
Owned: Yes

Must be logged in to use chart

2015-07-22

COMMENT
Sandvine Corp. (SVC-T (Dead))

Rates in the 1st quartile in his strategy ranking. It does not pay a dividend. PE is a little high, but it has great free cash flow at about 7.8%. You don’t buy this for the dividend, you buy it for the increase in value. They have no debt.

computer software/processing
Allan Meyer

VP & Portfolio Manager, Wickham Investment Counsel

Price: $3.490
Owned: Yes

Must be logged in to use chart
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