Stock Opinions by Mark Carpani - Stockchase Experts
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Mark Carpani

On Stockchase since : Jun 2007

Senior Vice President at Ridgewood Capital

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Stock Opinions by Mark Carpani - Stockchase Experts

Signal Opinion Expert Chart
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General Market Comment 

January 10, 2011

If ECB wasn’t there or Germany wasn’t there there wouldn’t be much demand for Spanish bonds, Market is telling you there you won’t get back 100 cents on the dollar. There is definitely going to be a hair cut. Most of investors in these countries are the banks. He would stay out of Europe until it settles down.
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If ECB wasn’t there or Germany wasn’t there there wouldn’t be much demand for Spanish bonds, Market is telling you there you won’t get back 100 cents on the dollar. There is definitely going to be a hair cut. Most of investors in these countries are the banks. He would stay out of Europe until it settles down.
Unknown
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0 comments
Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$0.020
Owned Owned
Unknown

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DON'T BUY
If rates gradually rise in the short term, then this fund will suffer. He thinks rates will rise modestly over this year. The coupon may not be enough to offset the loss in capital. The market expects 100 basis points be his firm expects somewhat (50-75) less.
E.T.F.'s
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If rates gradually rise in the short term, then this fund will suffer. He thinks rates will rise modestly over this year. The coupon may not be enough to offset the loss in capital. The market expects 100 basis points be his firm expects somewhat (50-75) less.
E.T.F.'s
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$20.390
Owned Owned
Unknown

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BUY
General Market Comment 

January 10, 2011

Saw 5.7% bonds: Good franchise in the west. Change in CEO is good for bonds. Making money and executing and drama doesn’t’ concern him.
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Saw 5.7% bonds: Good franchise in the west. Change in CEO is good for bonds. Making money and executing and drama doesn’t’ concern him.
Unknown
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$0.020
Owned Owned
Unknown

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BUY
CASH(CASH) 

January 10, 2011

Bonds will out perform cash. Cash – 1%, bonds 5-6% or more. Bonds are better than cash right now.
N/A
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Bonds will out perform cash. Cash – 1%, bonds 5-6% or more. Bonds are better than cash right now.
N/A
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$0.010
Owned Owned
Unknown

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TOP PICK
Yellow Media Inc(Y-T) 

January 10, 2011

Yellow Media 7.75 % 3/2/2020. High investment grade, generating good free cash flow. Deleveraging and paying down debt. Converted from income trust in November without any fall out. Doesn’t have a problem with the equity. Biggest risk is a big slowdown in the economy.
communications/media
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Yellow Media 7.75 % 3/2/2020. High investment grade, generating good free cash flow. Deleveraging and paying down debt. Converted from income trust in November without any fall out. Doesn’t have a problem with the equity. Biggest risk is a big slowdown in the economy.
communications/media
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$6.150
Owned Owned
Yes

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TOP PICK
CitiGroup(C-N) 

January 10, 2011

5.16% bond callable May 24/22. Trading at a discount. Yielding over 7%. Feels they have made the transformation out of the government’s hands and have divested a lot of non-core assets. Good global franchise.
insurance
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5.16% bond callable May 24/22. Trading at a discount. Yielding over 7%. Feels they have made the transformation out of the government’s hands and have divested a lot of non-core assets. Good global franchise.
insurance
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$4.910
Owned Owned
Yes

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TOP PICK
General Market Comment 

January 10, 2011

Cara Operations: 9.15% due 12/01/2015. Widely known for Swiss Chalet and milestones, Kelsey’s, Montana’s. Biggest risk is downturn in restaurants.
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Cara Operations: 9.15% due 12/01/2015. Widely known for Swiss Chalet and milestones, Kelsey’s, Montana’s. Biggest risk is downturn in restaurants.
Unknown
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$0.020
Owned Owned
Unknown

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PAST TOP PICK
(Top Pick Dec 29/09, Up 14.67)
Utilities
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(Top Pick Dec 29/09, Up 14.67)
Utilities
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$21.000
Owned Owned
Yes

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PAST TOP PICK
Altagas Ltd(ALA-T) 

January 10, 2011

(Top Pick Dec 29/09, Up 19.01%) Reach his targets that he set for it.
oil/gas
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(Top Pick Dec 29/09, Up 19.01%) Reach his targets that he set for it.
oil/gas
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$21.590
Owned Owned
No

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PAST TOP PICK
General Market Comment 

January 10, 2011

(Top Pick Dec 29/09, Up 6.53%) Case New Holland FRN 12/15/12
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(Top Pick Dec 29/09, Up 6.53%) Case New Holland FRN 12/15/12
Unknown
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$0.020
Owned Owned
Yes

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WEAK BUY
Not a bad sector. A good place to be instead of cash or GICs
E.T.F.'s
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Not a bad sector. A good place to be instead of cash or GICs
E.T.F.'s
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$20.800
Owned Owned
No

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N/A
General Market Comment 

November 16, 2010

Not a lot has changed since 2009 except overnight bank rates. The Canadian yield curve has rallied. There is not really any value at the short end and the risk is too high. At the short end, rates are as low as they are going to go. Prefers corporate bonds. Investment grade bonds are very attractive. Ireland or Greek credit problems will cause volatility.
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Not a lot has changed since 2009 except overnight bank rates. The Canadian yield curve has rallied. There is not really any value at the short end and the risk is too high. At the short end, rates are as low as they are going to go. Prefers corporate bonds. Investment grade bonds are very attractive. Ireland or Greek credit problems will cause volatility.
Unknown
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0 comments
Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$0.020
Owned Owned
Unknown

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TOP PICK
General Market Comment 

November 16, 2010

Aeroplan Bonds: 6.95% 01/26/2017 The improving economic theme and the Aeroplan card attached to purchases. Broad customer base, deep penetration. Not all miles get redeemed (over 20%). Good cash flow, modest debt, and good franchise, higher income individuals.
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Aeroplan Bonds: 6.95% 01/26/2017 The improving economic theme and the Aeroplan card attached to purchases. Broad customer base, deep penetration. Not all miles get redeemed (over 20%). Good cash flow, modest debt, and good franchise, higher income individuals.
Unknown
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$0.020
Owned Owned
Yes

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TOP PICK
CitiGroup(C-N) 

November 16, 2010

Citigroup Bonds: 5.16% 05/24/2027 Thinks they have gone through the worst. Very, very good turnaround. Not super liquid so it takes time to get into this position. Have a good franchise. Have proven they can cut costs – management is doing a good job.
insurance
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Citigroup Bonds: 5.16% 05/24/2027 Thinks they have gone through the worst. Very, very good turnaround. Not super liquid so it takes time to get into this position. Have a good franchise. Have proven they can cut costs – management is doing a good job.
insurance
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$4.220
Owned Owned
Yes

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TOP PICK
Manulife Financial(MFC-T) 

November 16, 2010

Manulife Bonds: 7.405% 12/31/2019 They have gone through the worst. This bonds represents good value on the yield curve.
insurance
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Manulife Bonds: 7.405% 12/31/2019 They have gone through the worst. This bonds represents good value on the yield curve.
insurance
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$15.230
Owned Owned
Yes

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WEAK BUY
Fortis Inc.(FTS-T) 

November 16, 2010

Bonds: Very solid utility. Power generation assets are highly regulated. Contracts in place for a very long length of time. A little bit rich as present because the extra spread over a government bond is not as good as he used to get.
electrical utilities
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Bonds: Very solid utility. Power generation assets are highly regulated. Contracts in place for a very long length of time. A little bit rich as present because the extra spread over a government bond is not as good as he used to get.
electrical utilities
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$30.920
Owned Owned
Unknown

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WEAK BUY
Tracks the Canadian Bond universe. If you are a passive investor and want exposure to the bond market, it is not a bad place to invest, however the risk is that you are going to get the return of the bond index. He thinks you want to get more than the index. Return is dragged down by very short term bonds that don’t have much upside potential.
E.T.F.'s
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Tracks the Canadian Bond universe. If you are a passive investor and want exposure to the bond market, it is not a bad place to invest, however the risk is that you are going to get the return of the bond index. He thinks you want to get more than the index. Return is dragged down by very short term bonds that don’t have much upside potential.
E.T.F.'s
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$29.920
Owned Owned
Unknown

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BUY
Brookfield 5.25% 2018 or 5.14% 2020? He would go for the longer one.
property mngmnt/investment
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Brookfield 5.25% 2018 or 5.14% 2020? He would go for the longer one.
property mngmnt/investment
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$17.360
Owned Owned
Unknown

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PAST TOP PICK
EnerCare Inc(ECI-T) 

November 16, 2010

(Top Pick Nov 17/09, Up 10.5% total return) Consumers Water Heater Bonds 6.75 4/30/2014. Sold to buy bonds further up the yield curve.
Consumer Products
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(Top Pick Nov 17/09, Up 10.5% total return) Consumers Water Heater Bonds 6.75 4/30/2014. Sold to buy bonds further up the yield curve.
Consumer Products
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0 comments
Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$6.230
Owned Owned
No

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PAST TOP PICK
National Bank of Canada(NA-T) 

November 16, 2010

(Top Pick Nov 17/09, Up 14% total Return) 6.4% 11/18/2019. Solid utility, still owns it.
banks
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(Top Pick Nov 17/09, Up 14% total Return) 6.4% 11/18/2019. Solid utility, still owns it.
banks
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$65.090
Owned Owned
Yes

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PAST TOP PICK
Transalta Corp(TA-T) 

November 16, 2010

(Top Pick Nov 17/09, Up 14% total Return) 6.4% 11/18/2019. Solid utility, still owns it.
electrical/electronic
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(Top Pick Nov 17/09, Up 14% total Return) 6.4% 11/18/2019. Solid utility, still owns it.
electrical/electronic
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0 comments
Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$20.500
Owned Owned
Unknown

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BUY
General Market Comment 

November 16, 2010

Foreign Debt: If he wanted it he would stick to high quality debt such as Australia or New Zealand.
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Foreign Debt: If he wanted it he would stick to high quality debt such as Australia or New Zealand.
Unknown
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0 comments
Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$0.020
Owned Owned
Unknown

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BUY
Yellow Media Inc(Y-T) 

November 16, 2010

He owns 2020 bonds. It’s a fairly valued credit.
communications/media
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0 comments
He owns 2020 bonds. It’s a fairly valued credit.
communications/media
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$6.100
Owned Owned
Yes

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BUY
General Market Comment 

November 16, 2010

Navigation Canada Bonds. Related to airports. Monopoly on managing airport landing, gate fees, etc. Regulated business with strong cash flow. You wont get a lot of spread comported to provincial.
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Navigation Canada Bonds. Related to airports. Monopoly on managing airport landing, gate fees, etc. Regulated business with strong cash flow. You wont get a lot of spread comported to provincial.
Unknown
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$0.020
Owned Owned
Unknown

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DON'T BUY
Bell Aliant(BA-T) 

November 16, 2010

30-Year Bonds 6.25%. Doesn’t trust the company. The credit is ok. Would prefer something in the middle of the yield curve.
Utilities
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30-Year Bonds 6.25%. Doesn’t trust the company. The credit is ok. Would prefer something in the middle of the yield curve.
Utilities
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0 comments
Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$26.850
Owned Owned
No

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DON'T BUY
BCE Inc.(BCE-T) 

November 16, 2010

05/01/2029 Strip Bonds. More risky because coupon is stripped. This is a risky bond.
telephone utilities
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05/01/2029 Strip Bonds. More risky because coupon is stripped. This is a risky bond.
telephone utilities
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Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$33.340
Owned Owned
Unknown

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TOP PICK
Royal Bank(RY-T) 

July 19, 2010

4.93% Bond maturing July 16/25. A deposit note, which is right near the top of the capital structure. Very well run bank, well diversified and good balance sheet.
banks
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4.93% Bond maturing July 16/25. A deposit note, which is right near the top of the capital structure. Very well run bank, well diversified and good balance sheet.
banks
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0 comments
Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$53.630
Owned Owned
Yes

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TOP PICK
5.84% Bond maturing Nov 5/36. Good management and they are in a very good space. Likes renewable power area. Most of their contracts are fixed and fairly long-term.
Utilities
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0 comments
5.84% Bond maturing Nov 5/36. Good management and they are in a very good space. Likes renewable power area. Most of their contracts are fixed and fairly long-term.
Utilities
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0 comments
Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$20.200
Owned Owned
Yes

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TOP PICK
General Market Comment 

July 19, 2010

CHIP Mortgage Trust 4.49% bond maturing Aug 4/15. AAA rated. Essentially they take reverse mortgages and the collateral is the equity. Fairly low risk. Diversified across major centres across Canada.
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CHIP Mortgage Trust 4.49% bond maturing Aug 4/15. AAA rated. Essentially they take reverse mortgages and the collateral is the equity. Fairly low risk. Diversified across major centres across Canada.
Unknown
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0 comments
Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$0.020
Owned Owned
Yes

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BUY
General Market Comment 

July 19, 2010

10 year Ontario provincial bonds at 4% yield. Ontario is a big issuer and will continue to be a big issuer because of its massive deficit but he can't see any default risks.
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10 year Ontario provincial bonds at 4% yield. Ontario is a big issuer and will continue to be a big issuer because of its massive deficit but he can't see any default risks.
Unknown
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0 comments
Mark Carpani

Senior Vic, Ridgewood Capital...

Price Price
$0.020
Owned Owned
Unknown

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