Opinions by Irwin Michael, B.Com, MBA | StockChase
245
Irwin Michael, B.Com, MBA

Portfolio Manager

ON STOCKCHASE SINCE Sep 2006

ABC Funds
c/o I.A. Michael Investment Counsel Ltd.8 King Street East, Suite 700Toronto, ONM5C 1B5
T: 416-365-9696 F: 416-365-9705 iamich@abcfunds.com
http://www.abcfunds.com

245
Irwin Michael, B.Com, MBA

Portfolio Manager

ON STOCKCHASE SINCE Sep 2006

ABC Funds
c/o I.A. Michael Investment Counsel Ltd.8 King Street East, Suite 700Toronto, ONM5C 1B5
T: 416-365-9696 F: 416-365-9705 iamich@abcfunds.com
http://www.abcfunds.com


Opinions by Irwin Michael, B.Com, MBA


Signal Opinion Expert Chart
COMMENT
General Market Comment 

September 18, 2006

Energy sector: -There is absolutely value in this sector. There will be many more mergers/acquisitions taking place, particularly from the trust side.
Energy sector: -There is absolutely value in this sector. There will be many more mergers/acquisitions taking place, particularly from the trust side.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
Unknown

Must be logged in to use chart
COMMENT
General Market Comment 

September 18, 2006

Income trusts: - Likes to buy these when they are undervalued. Has a number of these. Likes to see 35/40% upside available, not including distributions.
Income trusts: - Likes to buy these when they are undervalued. Has a number of these. Likes to see 35/40% upside available, not including distributions.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
Yes

Must be logged in to use chart
COMMENT
General Market Comment 

September 18, 2006

Oil Sands: - Owns nothing in the oil sands. Prefers companies that have cash flow and earnings. In terms of the feeding frenzy to get into the tar sands, he’s not there.
Oil Sands: - Owns nothing in the oil sands. Prefers companies that have cash flow and earnings. In terms of the feeding frenzy to get into the tar sands, he’s not there.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
No

Must be logged in to use chart
COMMENT
General Market Comment 

September 18, 2006

US Recession: - Doesn’t see a recession, only a slowdown. Lower gasoline prices is helping the consumer. A chicken little scenario.
US Recession: - Doesn’t see a recession, only a slowdown. Lower gasoline prices is helping the consumer. A chicken little scenario.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
Unknown

Must be logged in to use chart
COMMENT
General Market Comment 

September 18, 2006

Financials: - Has no bank stocks or Canadian insurance companies. However, US life companies are dirt-cheap. He is able to buy them well below book and break-up value.
Financials: - Has no bank stocks or Canadian insurance companies. However, US life companies are dirt-cheap. He is able to buy them well below book and break-up value.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
No

Must be logged in to use chart
COMMENT
General Market Comment 

September 18, 2006

E.T.F.’s: - Doesn’t believe in indexing at all. It breeds mediocrity.
E.T.F.’s: - Doesn’t believe in indexing at all. It breeds mediocrity.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
No

Must be logged in to use chart
COMMENT
General Market Comment 

September 18, 2006

Shorting Stocks: - Can't use shorts because he is not running a hedge fund and it is not his mandate.
Shorting Stocks: - Can't use shorts because he is not running a hedge fund and it is not his mandate.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
No

Must be logged in to use chart
COMMENT
General Market Comment 

September 18, 2006

Gold: - Not a gold player. Gold is a function of the US$ and is going to act like a thermometer.
Gold: - Not a gold player. Gold is a function of the US$ and is going to act like a thermometer.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
No

Must be logged in to use chart
COMMENT
General Market Comment 

September 18, 2006

Metals: - We are in a period where everyone has lost their confidence and there is a fear factor. He does own a few metals. Believes in it, but what has changed is the psychology.
Metals: - We are in a period where everyone has lost their confidence and there is a fear factor. He does own a few metals. Believes in it, but what has changed is the psychology.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
Yes

Must be logged in to use chart
COMMENT
General Market Comment 

September 18, 2006

Auto Sector: - Owns General Motors (GM-N). They are making a lot of tough decisions and getting their act together.
Auto Sector: - Owns General Motors (GM-N). They are making a lot of tough decisions and getting their act together.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
Yes

Must be logged in to use chart
COMMENT
General Market Comment 

September 18, 2006

Natural Gas: - Everyone is negative on natural gas and prefers oil. This commodity is very levered towards natural disasters and is not politically sensitive like oil. Likes the sector.
Natural Gas: - Everyone is negative on natural gas and prefers oil. This commodity is very levered towards natural disasters and is not politically sensitive like oil. Likes the sector.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
Yes

Must be logged in to use chart
COMMENT
General Market Comment 

September 18, 2006

Averaging Down: - He will average Down on a stock that has dropped but he thinks is still good.
Averaging Down: - He will average Down on a stock that has dropped but he thinks is still good.
Unknown
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$0.020
Owned Owned
Unknown

Must be logged in to use chart
DON'T BUY
Celestica Inc(CLS-T) 

September 18, 2006

Doesn't own any high-tech companies because they are not fundamentally cheap. His style is to buy a Toonie for a Loonie.
electrical/electronic
Doesn't own any high-tech companies because they are not fundamentally cheap. His style is to buy a Toonie for a Loonie.
electrical/electronic
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$11.590
Owned Owned
No

Must be logged in to use chart
TOP PICK
Norbord Inc.(OSB-N) 

September 18, 2006

Everyone hates this and is concerned about a recession in the US. This is the lowest cost Oriented Strand Board producer in North America. Good balance sheet and excellent management. 4.7% yield. Will be for sale over the next 12 months.
east coast forestry
Everyone hates this and is concerned about a recession in the US. This is the lowest cost Oriented Strand Board producer in North America. Good balance sheet and excellent management. 4.7% yield. Will be for sale over the next 12 months.
east coast forestry
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$8.680
Owned Owned
Yes

Must be logged in to use chart
DON'T BUY
Rothmans Inc(ROC-T) 

September 18, 2006

Fundamentally cheap and a great cash flow generator. A lot of his clients object, so he is not in tobacco.
tobacco
Fundamentally cheap and a great cash flow generator. A lot of his clients object, so he is not in tobacco.
tobacco
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds...

PricePrice
$21.080
Owned Owned
No

Must be logged in to use chart
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