Opinions by Alex Ruus | StockChase
752
Alex Ruus

Portfolio Manager

ON STOCKCHASE SINCE Nov 2006

Arrow Capital Management


Opinions by Alex Ruus



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Date Signal Chart Company Opinion
2017-11-16
COMMENT

General Comment

N/A


Market. Overall, it was a very, very strong quarter. Thinks it’s a prelude to a pretty good year to come, and continuation of this grudging bull market we’ve been in. While we are getting a few divergences on the valuation front, which is creating some great opportunities for active managers, overall things are looking very, very good, and he is optimistic going forward. Economically, things are very good. The US central bank is now unwinding the quantitative easing that they’ve had in place for about 5 years. Interest rate increases will probably continue.

GENERAL COMMENT
2017-11-16
COMMENT

General Comment

N/A


IPOs? With these, you have to do a lot of homework. There is no background in the public market. For the average retail investor, it is tough. There is also another aspect. It’s the way shares are delved out to people who have asked to get them. The average person is at a disadvantage, as there is a bit of a network among dealers. His general rule is to avoid them.

GENERAL COMMENT
2017-11-16
TOP PICK

ANTM-N

$220.890

Anthem Inc


A free cash flow machine. Have retired 58% of their outstanding shares in the last decade. The #2 managed care organization, health insurer, in the US. Dividend yield of 1.3%. (Analysts’ price target is $226.)

medical services
2017-11-16
COMMENT

ARX-T

$16.010

Arc Resources Ltd


A well run company. The problem with this and a lot of the Western Canadian E&P’s is that the biggest part of production is natural gas coming out of Western Canada. At times in September, that production was basically worthless. The oil and condensates they are producing is worth quite a bit of money, but gas is almost being given away. The Western Canadian gas market continues to be depressed, and will be for a number of years.

oil/gas
2017-11-16
HOLD

BAM.A-T

$52.590

Brookfield Asset Management (A)


(Market Call Minute.) A very good manager of multiple funds. They get a flow of inflows from Brookfield’s Limited partnerships.

management/diversified
2017-11-16
HOLD

BNP-T

$2.430

Bonavista Energy Corp


(Market Call Minute.) A good, solid energy company, but has a bit of a hangover because of its natural gas exposure.

oil/gas
2017-11-16
HOLD

BRB-T

$3.250

Brick Brewing Company Ltd.


(Market Call Minute.) A very solid brewer with excellent beer products. If it got down to the mid-$2, he would be a buyer.

breweries/beverages
2017-11-16
WAIT

CELG-Q

$103.350

Celgene Corp


One of the larger biotech companies. The big drop last month was due to a halt in one of their trials where they were developing what looked like a pretty good drug which would have been a big market. He would stay away for another month or so, but longer-term, it is a pretty good company with a portfolio of good drugs in development and good drugs in the market.

Consumer Products
2017-11-16
DON'T BUY

DOL-T

$151.490

Dollarama Inc.


Your classic momentum stock. One of the few companies in Canada that has continuous earning beats. Has a good business that continues to grow. It is a really expensive stock. There is a world of investable opportunities out there, and a lot of great companies like this that he would like to own at some point, but you are paying many, many, many future years of profits now at these valuation levels.

Consumer Products
2017-11-16
WAIT

DWDP-N

$70.680

DowDuPont Inc.


A lot of the bigger US companies are reflecting a fair bit of good news. This merger entity is a really great company, and over time you will make money with it. He would hold off and wait for a correction. The stock is not cheap.

chemicals
2017-11-16
PAST TOP PICK

EFN-T

$9.660

Element Fleet Management


(A Top Pick Feb 21/17. Down 30%.) On a standalone basis going forward, this is a cheap, cheap company. Trading at 9X earnings. Management has been buying stock, which is a very bullish signal. North America’s #1 leading vehicle fleet manager. They provide service for their customers on running their fleets more efficiently. Pays a 3% dividend yield, which is likely going to be increased every year.

GENERAL COMMENT
2017-11-16
DON'T BUY

EIF-T

$34.820

Exchange Income


(Market Call Minute.) There are Short reports out there, and he is trying to get his head around as to whether the Shorts have nailed this or not. There are some concerning signals. He would hold off on this.

Transportation & Environmental Services
2017-11-16
HOLD

ENB-T

$44.010

Enbridge


One of the world’s largest pipeline companies, and a leader in North America in oil transportation. A great, long term company. Has a fair bit of growth projects coming at them. Part of the issue is debt. People are worried they are going to have to raise more equity. There is a chance we could see an equity issue in the next year. With that overhang, the stock may just be going sideways. At these levels, it looks like reasonable value, but don’t expect much upward movement until there is more clarity. If you already own this, you are probably safe in just sitting tight. Dividend yield of 5.5%.

oil/gas pipelines
2017-11-16
WEAK BUY

ERF-T

$11.510

Enerplus Corp


(Market Call Minute.) A good, solid oil and gas company with good exposure in the right areas. He would call this a soft Buy.

oil/gas
2017-11-16
HOLD

FLY-X

$2.010

Flyht Aerospace Solutions


A fascinating small-cap company that recently became profitable. However, the 3rd quarter was not profitable which caused softness. Feels there are a lot of good things to come in the coming year. They have fascinating technology to help airlines run fleets more efficiently, as well as dealing with problems like lost airplanes. Feels it is going to be a very successful company long-term. The recent pullback is a buying opportunity.

Transportation
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