Stock Opinions by Steve MacMillan - Stockchase Experts
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24
Steve MacMillan @

On Stockchase since : Jan 2007

Vice President of Investments at KBSH Capital Management

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Steve MacMillan Latest Top Picks...

Stock Opinions by Steve MacMillan - Stockchase Experts

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BUY
Rona Inc(RON-T) 

January 3, 2007

“Best of breed” in the home improvement space in Canada. Low P/E because of the concern of investors on the housing market. Acquiring companies with good opportunities to make investments at reasonable prices.
specialty stores
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0 comments
“Best of breed” in the home improvement space in Canada. Low P/E because of the concern of investors on the housing market. Acquiring companies with good opportunities to make investments at reasonable prices.
specialty stores
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0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$20.900
Owned Owned
Yes

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DON'T BUY
Home Depot(HD-N) 

January 3, 2007

For a long-term view of 2 or 3 years, the stock will be higher than it is today. However, 2007 could be a transition year for them. Earnings estimates have continued coming down. With stay on the sidelines for the time being.
specialty stores
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0 comments
For a long-term view of 2 or 3 years, the stock will be higher than it is today. However, 2007 could be a transition year for them. Earnings estimates have continued coming down. With stay on the sidelines for the time being.
specialty stores
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0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$41.070
Owned Owned
Unknown

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DON'T BUY
3M Co.(MMM-N) 

January 3, 2007

Long-term prospects are not as rosy as he would like. Under the last CEO, the company was starved for R&D but were more focused on current margins rather than long-term sales. Huge producer of glass and flat screen TV's and there is concern about growing competition.
mngmnt/diversified
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0 comments
Long-term prospects are not as rosy as he would like. Under the last CEO, the company was starved for R&D but were more focused on current margins rather than long-term sales. Huge producer of glass and flat screen TV's and there is concern about growing competition.
mngmnt/diversified
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0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$78.260
Owned Owned
No

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BUY
Walmart Inc(WMT-N) 

January 3, 2007

Just announced improvements in staffing levels of their stores. Expect a big move to improve margins as well as sales. Good entry point.
department stores
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Just announced improvements in staffing levels of their stores. Expect a big move to improve margins as well as sales. Good entry point.
department stores
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0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$47.550
Owned Owned
Yes

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BUY
Procter & Gamble(PG-N) 

January 3, 2007

The kind of a stock that you could put in your portfolio and leave for years. High-quality company with some amazing brands in its portfolio. The Gillette acquisition last year increased the quality of the brands. Valuation is reasonable and you'll probably make 10% a year over a long period of time.
misc consumer products
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0 comments
The kind of a stock that you could put in your portfolio and leave for years. High-quality company with some amazing brands in its portfolio. The Gillette acquisition last year increased the quality of the brands. Valuation is reasonable and you'll probably make 10% a year over a long period of time.
misc consumer products
0 0 0 0 0
0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$64.540
Owned Owned
Yes

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TOP PICK
J.C. Penney(JCP-N) 

January 3, 2007

New management,4-5 years ago, began focusing on margins, merchandising. Margins have risen from 0% in 1999 to 10% in 2006. Expect this will go up to 12%. Strong sales growth. 14 X earnings
department stores
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0 comments
New management,4-5 years ago, began focusing on margins, merchandising. Margins have risen from 0% in 1999 to 10% in 2006. Expect this will go up to 12%. Strong sales growth. 14 X earnings
department stores
0 0 0 0 0
0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$78.060
Owned Owned
Yes

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TOP PICK
Pool Corporation(POOL-Q) 

January 3, 2007

Distributor of swimming pool products. They are a large, consolidated distributor between 2 fragmented bases, suppliers and customers, which gives them the most bargaining power. Attractive valuation.
household goods
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0 comments
Distributor of swimming pool products. They are a large, consolidated distributor between 2 fragmented bases, suppliers and customers, which gives them the most bargaining power. Attractive valuation.
household goods
0 0 0 0 0
0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$39.590
Owned Owned
Yes

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TOP PICK
CVS Health Corp(CVS-N) 

January 3, 2007

Like the Shoppers Drug Mart of the US. Benefiting from an aging population. Generics are growing and retail pharmacies make more money off generics then branded drugs. Continuing to grow. Weak competition.
specialty stores
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0 comments
Like the Shoppers Drug Mart of the US. Benefiting from an aging population. Generics are growing and retail pharmacies make more money off generics then branded drugs. Continuing to grow. Weak competition.
specialty stores
0 0 0 0 0
0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$30.840
Owned Owned
Yes

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BUY
Microsoft(MSFT-Q) 

January 3, 2007

Valuation is attractive. Not as risky as some other high-tech stocks. Likes the cash flow and the balance sheet, but little concerned that they will be investing in their new platforms and not getting the returns in the shorter-term.
computer software/processing
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0 comments
Valuation is attractive. Not as risky as some other high-tech stocks. Likes the cash flow and the balance sheet, but little concerned that they will be investing in their new platforms and not getting the returns in the shorter-term.
computer software/processing
0 0 0 0 0
0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$29.860
Owned Owned
No

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BUY
Dell Computers(DELL-Q) 

January 3, 2007

Valuation is attractive. Not as risky as some other high-tech stocks.
electrical/electronic
0 0 0 0 0
0 comments
Valuation is attractive. Not as risky as some other high-tech stocks.
electrical/electronic
0 0 0 0 0
0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$25.490
Owned Owned
Yes

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DON'T BUY
Reasonable year in 2006, but he would not own the stock. An example of a bad company. Some very serious structural issues including labour and health care costs. Have several times more retired workers than active ones. Also questions the quality of their products.
Automotive
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0 comments
Reasonable year in 2006, but he would not own the stock. An example of a bad company. Some very serious structural issues including labour and health care costs. Have several times more retired workers than active ones. Also questions the quality of their products.
Automotive
0 0 0 0 0
0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$29.450
Owned Owned
No

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DON'T BUY
Deere & Co.(DE-N) 

January 3, 2007

Agricultural economy is what drives this company. His concern is his inability to forecast this part of the economy.
machinery
0 0 0 0 0
0 comments
Agricultural economy is what drives this company. His concern is his inability to forecast this part of the economy.
machinery
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0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$93.480
Owned Owned
No

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COMMENT
McDonalds(MCD-N) 

January 3, 2007

Has done a great job in the last 1 1/2 years of getting its sales turned around. From here, it will be more on how they do in Europe. Valuation is getting a little bit full.
food services
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0 comments
Has done a great job in the last 1 1/2 years of getting its sales turned around. From here, it will be more on how they do in Europe. Valuation is getting a little bit full.
food services
0 0 0 0 0
0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$43.870
Owned Owned
No

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HOLD
Johnson & Johnson(JNJ-N) 

January 3, 2007

This is a company that will have lower return, but more stable. There is a good opportunity for a return in the future.
biotechnology/pharmaceutical
0 0 0 0 0
0 comments
This is a company that will have lower return, but more stable. There is a good opportunity for a return in the future.
biotechnology/pharmaceutical
0 0 0 0 0
0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$66.400
Owned Owned
Yes

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DON'T BUY
Caterpillar(CAT-N) 

January 3, 2007

Has recently had some issues. Decline in share price is because of slower truck sales as well as rising commodity prices. With manufacturing costs rising, margins will get squeezed. He is generally underweight the whole industrial space in the US.
machinery
0 0 0 0 0
0 comments
Has recently had some issues. Decline in share price is because of slower truck sales as well as rising commodity prices. With manufacturing costs rising, margins will get squeezed. He is generally underweight the whole industrial space in the US.
machinery
0 0 0 0 0
0 comments
Steve MacMillan

Vice Presi, KBSH Capital Managem...

Price Price
$61.160
Owned Owned
No

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