Opinions by Allan Meyer | StockChase
166
Allan Meyer

VP & Portfolio Manager

ON STOCKCHASE SINCE Apr 2004

Wickham Investment Counsel

166
Allan Meyer

VP & Portfolio Manager

ON STOCKCHASE SINCE Apr 2004

Wickham Investment Counsel


Opinions by Allan Meyer


Signal Opinion Expert Chart
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General Market Comment 

February 5, 2016

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.

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.

Unknown
Allan Meyer

VP & Portfolio Manager, Wickham Investment C...

PricePrice
$0.020
Owned Owned
_N/A

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COMMENT
General Market Comment 

February 5, 2016

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.

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.

Unknown
Allan Meyer

VP & Portfolio Manager, Wickham Investment C...

PricePrice
$0.020
Owned Owned
Yes

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COMMENT
Altagas Ltd(ALA-T) 

February 5, 2016

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

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 C...

PricePrice
$31.700
Owned Owned
Unknown

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HOLD

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

electrical utilities

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

electrical utilities
Allan Meyer

VP & Portfolio Manager, Wickham Investment C...

PricePrice
$11.980
Owned Owned
No

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BUY
Aecon Group Inc(ARE-T) 

February 5, 2016

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

contractors

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

contractors
Allan Meyer

VP & Portfolio Manager, Wickham Investment C...

PricePrice
$14.270
Owned Owned
Yes

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BUY
BCE Inc.(BCE-T) 

February 5, 2016

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

telephone utilities

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 C...

PricePrice
$58.160
Owned Owned
Unknown

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BUY

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

REAL ESTATE

(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 C...

PricePrice
$11.950
Owned Owned
Yes

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DON'T BUY

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

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 C...

PricePrice
$15.150
Owned Owned
No

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COMMENT
Canadian Solar Inc.(CSIQ-Q) 

February 5, 2016

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

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 C...

PricePrice
$19.440
Owned Owned
No

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PAST TOP PICK

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

precious metals

(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 C...

PricePrice
$15.650
Owned Owned
No

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COMMENT
Emera Inc(EMA-T) 

February 5, 2016

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

mngmnt/diversified

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 C...

PricePrice
$45.960
Owned Owned
No

Must be logged in to use chart
COMMENT
Hydro One(H-T) 

February 5, 2016

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

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 C...

PricePrice
$23.120
Owned Owned
No

Must be logged in to use chart
DON'T BUY
Kelt Exploration(KEL-T) 

February 5, 2016

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

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 C...

PricePrice
$3.750
Owned Owned
No

Must be logged in to use chart
TOP PICK
Linamar Corp(LNR-T) 

February 5, 2016

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

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 C...

PricePrice
$52.720
Owned Owned
Yes

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

February 5, 2016

(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

(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 C...

PricePrice
$45.480
Owned Owned
Yes

Must be logged in to use chart
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