Stock Opinions by Irwin Michael, B.Com, MBA - Stockchase Experts
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Irwin Michael, B.Com, MBA @

On Stockchase since : Sep 2006

Portfolio Manager at ABC Funds

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Stock Opinions by Irwin Michael, B.Com, MBA - Stockchase Experts

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General Market Comment 

December 3, 2013

Markets. Value is a moving target. He has to look at a lot more stocks to find one to buy right now. Not into the banks. Below tangible book, hidden assets, etc. are what he looks for. People are always looking over their shoulder even though markets have done so well. Better economic news could be a catalyst. Better earnings would be helpful. Lots of M&A. Weakness would be an indicator to buy. It’s a trading market and a stock picking market. Expects Santa Clause rally. The rotation from bonds into equities is happening.

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Markets. Value is a moving target. He has to look at a lot more stocks to find one to buy right now. Not into the banks. Below tangible book, hidden assets, etc. are what he looks for. People are always looking over their shoulder even though markets have done so well. Better economic news could be a catalyst. Better earnings would be helpful. Lots of M&A. Weakness would be an indicator to buy. It’s a trading market and a stock picking market. Expects Santa Clause rally. The rotation from bonds into equities is happening.

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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$0.020
Owned Owned
_N/A

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BUY
Iona Energy Inc.(INA.H-X) 

December 3, 2013

Likes it. An Irish company but Canadian in name only. Company is fundamentally cheap. Has a NAV of $1.50 he believes. They have a good spread on the oil price. Likes management.

oil/gas
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Likes it. An Irish company but Canadian in name only. Company is fundamentally cheap. Has a NAV of $1.50 he believes. They have a good spread on the oil price. Likes management.

oil/gas
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$0.670
Owned Owned
Yes

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BUY
Seaspan Corp.(SSW-N) 

December 3, 2013

5.25% dividend yield. Well run. They want to take on a few more ships. It is not well followed. Management nixed the deal and raised the money in another way. He likes the company. Believes the global economies are improving and that this company should benefit.

Transportation
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5.25% dividend yield. Well run. They want to take on a few more ships. It is not well followed. Management nixed the deal and raised the money in another way. He likes the company. Believes the global economies are improving and that this company should benefit.

Transportation
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$21.210
Owned Owned
Yes

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BUY

Likes it. Likes management. Company could be in play and could be a takeover candidate. Likes the service side of this company. 3.9% dividend.

oil/gas
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Likes it. Likes management. Company could be in play and could be a takeover candidate. Likes the service side of this company. 3.9% dividend.

oil/gas
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$3.090
Owned Owned
Yes

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DON'T BUY
Martinrea(MRE-T) 

December 3, 2013

Used to own it. Likes management and liked what they were doing. Tangible book value is about $5.75. he has no intention of going back in until everything about the law suit is settled. Prefers SUP-N. He is finding a lot of value in US micro-cap.

metal fabricators
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Used to own it. Likes management and liked what they were doing. Tangible book value is about $5.75. he has no intention of going back in until everything about the law suit is settled. Prefers SUP-N. He is finding a lot of value in US micro-cap.

metal fabricators
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$8.970
Owned Owned
No

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SELL ON STRENGTH
Ithaca Energy Inc.(IAE-T) 

December 3, 2013

Buy at $2 and sell at $2.75-$3. The Street loves it. Trading well below NAV. It could be in play. Take a little profit above $2.60.

oil/gas
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Buy at $2 and sell at $2.75-$3. The Street loves it. Trading well below NAV. It could be in play. Take a little profit above $2.60.

oil/gas
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$2.580
Owned Owned
Yes

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BUY

There is a new player in the space right now, but he believes the Canadian dollar will improve as well as the economy. You will see greater employment down the road and this company will benefit. They have done an excellent job, dividend increase, share buyback. People expected the Canadian market to collapse. 4.1% dividend.

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There is a new player in the space right now, but he believes the Canadian dollar will improve as well as the economy. You will see greater employment down the road and this company will benefit. They have done an excellent job, dividend increase, share buyback. People expected the Canadian market to collapse. 4.1% dividend.

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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$34.120
Owned Owned
Unknown

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BUY

Services companies are amongst the cheapest. 4.5% dividend. Just moved into Australia. Going to 14 rigs by end of next year. Hard book value is about $10.

oil/gas field services
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Services companies are amongst the cheapest. 4.5% dividend. Just moved into Australia. Going to 14 rigs by end of next year. Hard book value is about $10.

oil/gas field services
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$7.850
Owned Owned
Unknown

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PAST TOP PICK
Kirkland Lake Gold(KL-T) 

December 3, 2013

(Top Pick Nov 16/12, Down 74.10%) Management stumbled several times and stock is in the penalty box. By end of November, they had a large royalty deal, but they had under delivered. There has been a management change. New Management is very capable. He thinks it is officially cheap. He is sticking with it. Nothing wrong with the company.

precious metals
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(Top Pick Nov 16/12, Down 74.10%) Management stumbled several times and stock is in the penalty box. By end of November, they had a large royalty deal, but they had under delivered. There has been a management change. New Management is very capable. He thinks it is officially cheap. He is sticking with it. Nothing wrong with the company.

precious metals
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$2.640
Owned Owned
Yes

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PAST TOP PICK
Petrowest Corp(PRW-T) 

December 3, 2013

(Top Pick Nov 16/12, Up 41.94%) Well positioned for western Canadian oil and gas services. If you believe in LNG, they will do well. Thinks it is fundamentally cheap.

oil/gas
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(Top Pick Nov 16/12, Up 41.94%) Well positioned for western Canadian oil and gas services. If you believe in LNG, they will do well. Thinks it is fundamentally cheap.

oil/gas
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$0.880
Owned Owned
Yes

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PAST TOP PICK

(Top Pick Nov 16/12, Down 25.74%) It is a sum of the parts story. It is the Madagascar project and people are looking at the nickel price. If it stays down a long time a lot of their competitors will shut down. Over 5% dividend. He would like the company to buy back stock.

integrated mines
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(Top Pick Nov 16/12, Down 25.74%) It is a sum of the parts story. It is the Madagascar project and people are looking at the nickel price. If it stays down a long time a lot of their competitors will shut down. Over 5% dividend. He would like the company to buy back stock.

integrated mines
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$3.330
Owned Owned
Yes

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BUY
Equitable Group(EQB-T) 

December 3, 2013

Very well run. He has taken some profits. Done an excellent job of turning around the company. Trading above tangible book (1.4 times). Could be a merger or takeover target. Have increased their dividend and returned earnings to shareholders. 1.5% dividend.

Financial Services
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Very well run. He has taken some profits. Done an excellent job of turning around the company. Trading above tangible book (1.4 times). Could be a merger or takeover target. Have increased their dividend and returned earnings to shareholders. 1.5% dividend.

Financial Services
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$47.000
Owned Owned
Yes

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BUY
Capstone Mining Corp.(CS-T) 

December 3, 2013

Well run. New operation has only been going for 6 weeks. He likes it. They have moved up from a small cap to more of a mid cap. It is now 60% American but you buy in Canadian dollars. Thinks it will go higher and it could be a takeover play. With Copper, the wild card is China but he is comfortable.

precious metals
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Well run. New operation has only been going for 6 weeks. He likes it. They have moved up from a small cap to more of a mid cap. It is now 60% American but you buy in Canadian dollars. Thinks it will go higher and it could be a takeover play. With Copper, the wild card is China but he is comfortable.

precious metals
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$2.800
Owned Owned
Yes

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HOLD

He held it for 5 years but trimmed. Normally he doesn’t buy high tech but he thought it was fundamentally cheap. They turned around their business. Management is excellent. If it is a play company, it will go higher than $5, but the government will be very careful who is allowed to buy into it.

Telecommunications
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He held it for 5 years but trimmed. Normally he doesn’t buy high tech but he thought it was fundamentally cheap. They turned around their business. Management is excellent. If it is a play company, it will go higher than $5, but the government will be very careful who is allowed to buy into it.

Telecommunications
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$4.150
Owned Owned
Yes

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BUY on WEAKNESS
Canam Group Inc.(CAM-T) 

December 3, 2013

Well run. Involved in steel fabrication. They stumbled but they turned it around. He sold and is now out. Likes management. He may buy it again if it ever comes down. A lot of institutions want to see a dividend.

metal fabricators
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Well run. Involved in steel fabrication. They stumbled but they turned it around. He sold and is now out. Likes management. He may buy it again if it ever comes down. A lot of institutions want to see a dividend.

metal fabricators
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Irwin Michael,

Portfolio , ABC Funds...

Price Price
$12.580
Owned Owned
No

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