Stock Opinions by David Driscoll - Stockchase Experts
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1962
David Driscoll @

On Stockchase since : Oct 2000

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Stock Opinions by David Driscoll - Stockchase Experts


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COMMENT
General Market Comment 

August 7, 2018

Tesla, down 11% today. Going private at $420? Can Elon Musk pull it off? Yes, wouldn’t have made the statement without having funding lined up. Timing makes sense. In Musk’s best interests, since production is where they want, the 3 is ready to go. Doesn’t need the street any more to raise cash. Musk won’t have to deal with mundane matters, and defending himself against short-sellers, and can focus on getting the company commercially viable.

Tesla, down 11% today. Going private at $420? Can Elon Musk pull it off? Yes, wouldn’t have made the statement without having funding lined up. Timing makes sense. In Musk’s best interests, since production is where they want, the 3 is ready to go. Doesn’t need the street any more to raise cash. Musk won’t have to deal with mundane matters, and defending himself against short-sellers, and can focus on getting the company commercially viable.

Unknown
David Driscoll

President , Liberty Internationa...

Price Price
$0.020
Owned Owned
_N/A

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COMMENT
General Market Comment 

August 7, 2018

Big picture advice for investors. All-time highs, yet an underpinning of fear? That’s why stock-picking is secondary, and portfolio construction is much more imperative. Especially 10 years into a bull market. Cash is important, because you can take advantage of opportunities, and because you don’t want to sell into a falling market. Know the proportions of what you own, and the beta. Especially for retirees, who can’t afford to take a 40% hit to their portfolios when they need to withdraw cash.

Big picture advice for investors. All-time highs, yet an underpinning of fear? That’s why stock-picking is secondary, and portfolio construction is much more imperative. Especially 10 years into a bull market. Cash is important, because you can take advantage of opportunities, and because you don’t want to sell into a falling market. Know the proportions of what you own, and the beta. Especially for retirees, who can’t afford to take a 40% hit to their portfolios when they need to withdraw cash.

Unknown
David Driscoll

President , Liberty Internationa...

Price Price
$0.020
Owned Owned
_N/A

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COMMENT
General Market Comment 

August 7, 2018

Big picture advice for investors. All-time highs, yet an underpinning of fear? That’s why stock-picking is secondary, and portfolio construction is much more imperative. Especially 10 years into a bull market. Cash is important, because you can take advantage of opportunities, and because you don’t want to sell into a falling market. Know the proportions of what you own, and the beta. Especially for retirees, who can’t afford to take a 40% hit to their portfolios when they need to withdraw cash.

Big picture advice for investors. All-time highs, yet an underpinning of fear? That’s why stock-picking is secondary, and portfolio construction is much more imperative. Especially 10 years into a bull market. Cash is important, because you can take advantage of opportunities, and because you don’t want to sell into a falling market. Know the proportions of what you own, and the beta. Especially for retirees, who can’t afford to take a 40% hit to their portfolios when they need to withdraw cash.

Unknown
David Driscoll

President , Liberty Internationa...

Price Price
$0.020
Owned Owned
_N/A

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DON'T BUY
Deutsche Bank AG(DB-N) 

August 7, 2018

Worst performing of the European banks, down 31% YTD. Have to attend to restructuring, and interest rates not rising in Europe. Commercial lending and wealth management are fine, but everything else is stagnant. This one is the bottom of the barrel. Haven’t caught up from problems in 2008. Dividend cut. High risk, lower return.

banks

Worst performing of the European banks, down 31% YTD. Have to attend to restructuring, and interest rates not rising in Europe. Commercial lending and wealth management are fine, but everything else is stagnant. This one is the bottom of the barrel. Haven’t caught up from problems in 2008. Dividend cut. High risk, lower return.

banks
David Driscoll

President , Liberty Internationa...

Price Price
$12.620
Owned Owned
No

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DON'T BUY
Parkland Fuel Corp(PKI-T) 

August 7, 2018

Bunch of gas stations throughout Canada. Thinks of them like Couche-Tard. Owns the bonds, not the stock. Dividend growth muted. Bond’s yielding around 6% right now.. If market collapses, you’re not going with it. Parkland stock is bond-like return with equity-like risk, and he prefers equity return with bond-like risk.

merchandising/lodging

Bunch of gas stations throughout Canada. Thinks of them like Couche-Tard. Owns the bonds, not the stock. Dividend growth muted. Bond’s yielding around 6% right now.. If market collapses, you’re not going with it. Parkland stock is bond-like return with equity-like risk, and he prefers equity return with bond-like risk.

merchandising/lodging
David Driscoll

President , Liberty Internationa...

Price Price
$39.590
Owned Owned
No

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COMMENT
General Market Comment 

August 7, 2018

Analysts reports. Doesn’t read them. Doesn’t believe there is a “Chinese wall” between research and investment banking. Analysts are not independent. Companies “beat,” because “adjusted earnings” are becoming in vogue. Remember, earnings are artificial, cash is real. There’s manipulation going on.

Analysts reports. Doesn’t read them. Doesn’t believe there is a “Chinese wall” between research and investment banking. Analysts are not independent. Companies “beat,” because “adjusted earnings” are becoming in vogue. Remember, earnings are artificial, cash is real. There’s manipulation going on.

Unknown
David Driscoll

President , Liberty Internationa...

Price Price
$0.020
Owned Owned
_N/A

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DON'T BUY
Banco Santander SA(SAN-N) 

August 7, 2018

Dividend growth for last 5 years OK, last 10 years negative. Implores investors, please don’t chase yield. Think about long-term growth rate of the dividend. YTD down 14%. Likes that it’s a retail bank, but Spain is a problem right now. Not a lot of growth out of Europe. Impact of Spain separatism is that economy will slow down, loan loss provisions pick up.

banks

Dividend growth for last 5 years OK, last 10 years negative. Implores investors, please don’t chase yield. Think about long-term growth rate of the dividend. YTD down 14%. Likes that it’s a retail bank, but Spain is a problem right now. Not a lot of growth out of Europe. Impact of Spain separatism is that economy will slow down, loan loss provisions pick up.

banks
David Driscoll

President , Liberty Internationa...

Price Price
$5.440
Owned Owned
No

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DON'T BUY
Orange SA(ORAN-N) 

August 7, 2018

Hold or sell? In line with Euro GDP, so not getting above average growth. Everyone’s discounting, so margins are under stress. OK in Africa, Middle East, France, Spain. But inflation is wiping out any growth in the dividend. Capital’s not growing. This is a blanket commentary for most of the European telecoms. 

Utilities

Hold or sell? In line with Euro GDP, so not getting above average growth. Everyone’s discounting, so margins are under stress. OK in Africa, Middle East, France, Spain. But inflation is wiping out any growth in the dividend. Capital’s not growing. This is a blanket commentary for most of the European telecoms. 

Utilities
David Driscoll

President , Liberty Internationa...

Price Price
$17.060
Owned Owned
No

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PAST TOP PICK
Toronto Dominion(TD-T) 

August 7, 2018

(A Top Pick July 27/17, Up 24%) Best performing Canadian bank stock. Benefiting from growth in net interest margin south of the border. Given where we are in the market, if going to buy, buy half a position, and be paid while you wait for future opportunities. Has the best dividend and price growth.

banks

(A Top Pick July 27/17, Up 24%) Best performing Canadian bank stock. Benefiting from growth in net interest margin south of the border. Given where we are in the market, if going to buy, buy half a position, and be paid while you wait for future opportunities. Has the best dividend and price growth.

banks
David Driscoll

President , Liberty Internationa...

Price Price
$76.650
Owned Owned
Yes

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PAST TOP PICK
Jardine Matheson(JM-SP) 

August 7, 2018

(A Top Pick July 27/17, Up 7%) Still pretty good, compared to Chinese stock market. Like a proxy for investing in Southeast Asia and China, without taking on political risk. Owns IKEAs, some Starbucks, car dealerships, hotels, heavy construction equipment. Leveraged only about 35%. Smart guys.

(A Top Pick July 27/17, Up 7%) Still pretty good, compared to Chinese stock market. Like a proxy for investing in Southeast Asia and China, without taking on political risk. Owns IKEAs, some Starbucks, car dealerships, hotels, heavy construction equipment. Leveraged only about 35%. Smart guys.

0
David Driscoll

President , Liberty Internationa...

Price Price
$0.010
Owned Owned
Yes

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PAST TOP PICK
NextEra Energy(NEE-N) 

August 7, 2018

(A Top Pick July 27/17, Up 21%) Mostly solar, some wind. Growing in Florida, their big market. Good capital allocators, dividend’s growing at 10-15%, roughly 50% higher than Canadian utilities. He holds his stocks “forever,” unless a red flag appears and forces him to sell.

electrical utilities

(A Top Pick July 27/17, Up 21%) Mostly solar, some wind. Growing in Florida, their big market. Good capital allocators, dividend’s growing at 10-15%, roughly 50% higher than Canadian utilities. He holds his stocks “forever,” unless a red flag appears and forces him to sell.

electrical utilities
David Driscoll

President , Liberty Internationa...

Price Price
$170.630
Owned Owned
Yes

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DON'T BUY
ING Groep NV(ING-N) 

August 7, 2018

Fee income OK, risk cost high, Core 1 ratio is healthy. Problem is in areas they do business, like the Netherlands. Belgium acquisition hurting them, since they overpaid. Dividend hasn’t moved, cutting costs until they can return to profitability. Trying desperately to play catch up. YTD, stock’s down 18%.

investment companies/funds

Fee income OK, risk cost high, Core 1 ratio is healthy. Problem is in areas they do business, like the Netherlands. Belgium acquisition hurting them, since they overpaid. Dividend hasn’t moved, cutting costs until they can return to profitability. Trying desperately to play catch up. YTD, stock’s down 18%.

investment companies/funds
David Driscoll

President , Liberty Internationa...

Price Price
$14.820
Owned Owned
No

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HOLD
Westjet Airlines(WJA-T) 

August 7, 2018

Good entry point, dividend safe? Last quarter OK. Problem is pilot unionization. Fuel price has gone up. Stock’s gone down because hasn’t had a knockout quarter. Never owns airlines because no consistently growing cash flow. Dividend is safe.

Transportation

Good entry point, dividend safe? Last quarter OK. Problem is pilot unionization. Fuel price has gone up. Stock’s gone down because hasn’t had a knockout quarter. Never owns airlines because no consistently growing cash flow. Dividend is safe.

Transportation
David Driscoll

President , Liberty Internationa...

Price Price
$17.370
Owned Owned
No

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PARTIAL BUY
A.O. Smith(AOS-N) 

August 7, 2018

Water heaters, wastewater management, and water purification. In US, Canada, India, and China. Growing by 15%, generating a ton of cash. Dividend year over year increased by 29%. Over last 15 years, dividend’s increased by 45%. Stock struggling because of China tariffs. But lots of construction going on in the US, which will need their products. Growth starting to slow down, since they’re going from small cap to a mid cap. Buying half positions for clients now. Because they’re a small cap, a correction of any magnitude will hit them more.

misc industrial products

Water heaters, wastewater management, and water purification. In US, Canada, India, and China. Growing by 15%, generating a ton of cash. Dividend year over year increased by 29%. Over last 15 years, dividend’s increased by 45%. Stock struggling because of China tariffs. But lots of construction going on in the US, which will need their products. Growth starting to slow down, since they’re going from small cap to a mid cap. Buying half positions for clients now. Because they’re a small cap, a correction of any magnitude will hit them more.

misc industrial products
David Driscoll

President , Liberty Internationa...

Price Price
$59.130
Owned Owned
Yes

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BUY
Danaher Corp.(DHR-N) 

August 7, 2018

Danaher is like owning private equity. Serial acquisitors of businesses to improve and generate free cash flow well above working capital. In all the right categories right now. About to spin-off dental business. Into life sciences, consumables, and wastewater management. Growing nicely around 15%. Dividend growing 14% year over year, has grown 420% over last 15 years.

machinery

Danaher is like owning private equity. Serial acquisitors of businesses to improve and generate free cash flow well above working capital. In all the right categories right now. About to spin-off dental business. Into life sciences, consumables, and wastewater management. Growing nicely around 15%. Dividend growing 14% year over year, has grown 420% over last 15 years.

machinery
David Driscoll

President , Liberty Internationa...

Price Price
$102.260
Owned Owned
Unknown

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