Opinions by Adam Thomas | StockChase
23
Adam Thomas

Vice President & Portfolio Manager

ON STOCKCHASE SINCE Oct 2007

Qwest Fund Management
Suite 700744 - 4th Avenue S.W.Calgary, ALT2P 3T4
http://www.qwestfunds.com/


Opinions by Adam Thomas



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Date Signal Chart Company Opinion
2017-11-16
COMMENT

General Comment

N/A


Market.  WHY-X put out a news release that suggested someone would buy their deposit in BC.  The company surged and was halted, then the deal fell apart.  You have to be careful about this.  He cannot believe the kinds of things that go on in this market. 

GENERAL COMMENT
2017-11-13
DON'T BUY

VIS-N

$133.400

Vanguard Industrials Index Fund ETF Shares


When the economy is strong, cyclical sectors tend to outperform.  He thinks we are very late in the economic cycle.  It could end any time now.  You want to be underweight cyclical late in the cycle.  When the market is down and the bad news is priced in, then that is when to overweight these.  Don’t add to industrials right now.

E.T.F.'s
2017-05-29
COMMENT

General Comment

N/A


Educational Segment.  Demographics. You have two natural drivers of growth:  Growth from population growth and growth from productivity growth.  From the sum of the two we get about 1.3% growth in the world.  We have a growth problem, despite all the money being spent in the world.  We are in a low growth world.  The vast majority of the growth in the world is from China, India and Africa.  But China is near finished growing.  AFK-N and INDA-N are ETFs he likes.  Buy on pullbacks.

GENERAL COMMENT
2017-05-29
DON'T BUY

BEP.UN-T

$42.710

Brookfield Renewable Energy


We are never going back to coal.  Everyone has moved off it, despite what Mr. Trump happens to say about it.  If it gets back down to the $39 area he might be tempted to play it, however.

Utilities
2017-05-29
DON'T BUY

TXF-T

$15.150

First Asset Tech Giants CC ETF


It is a great way to play the big techs, but now is not a great time to get in.  The covered calls mean that if markets go up a lot you may not participate properly.  He likes the ETF, but tech stocks are not a great place to be right now.

E.T.F.'s
2017-01-30
COMMENT

ZPW-T

$19.620

BMO US Put Write ETF.


It is priced in US$ so you have currency exposure.  Last year there was a lot of price decline due to currency fluctuation.  This ETF is not risk free.  If all the holdings in the ETF go down a lot there is a downside risk.  Liquidity is not an issue for this ETF.

E.T.F.'s
2013-09-16
DON'T BUY

CGG-T

$3.040

China Gold International Resources


Listed in Canada but operations are in the far east.  Is cautious because of high debt and accounting is weird.  If you are betting gold will go a lot higher it is a pretty decent bet but if not it can decline a lot.

precious metals
2013-09-16
WATCH

PJC.A-T

$18.200

Jean Coutu Group (PJC) (A)


Potential take out candidate.  It would be Metro, most likely.  A very well run company.  With shippers taken out it will be the only guy left.  The take out premium has already been priced in.  He would wait.  Doesn’t like the risk / reward ratio.  It would make a lot of sense if PJC took out someone else.

department stores
2007-10-05
BUY

CPG-T

$21.450

Crescent Point Energy Corp


Assets mainly based in Saskatchewan. Bakken is a huge resource play. Have about 200,000 acres. Recently purchased Innova (IXL-T) for a pretty hefty price but it has made them the dominant player in this 1.6 billion-resource play. Trust model is quite sustainable. Low payout ratio. 11% yield. 86% light oil.
oil/gas
2007-10-05
TOP PICK

CYS-T

$6.900

Cyries Energy Inc


Undervalued story. Junior gas focused company with 70% gas in Alberta. Probably one of the best management teams in the patch. Has come down significantly from its highs. You now get it below NAV. Clean balance sheet. Could be a takeout candidate. Buy a little bit now and if Alberta does not implement the royalty review, buy more.
oil/gas
2007-10-05
DON'T BUY

DZR-X (Dead)

$0.400

Diaz Resources Ltd


Did quite poorly over the last couple of years. Have assets in Wilcox County, Texas and it has been tough slugging. Spent a lot of time/capital drilling big, expensive wells. Difficult to get to and difficult to drill. Asset base in Canada is in southeastern Alberta, which has been in decline.
oil/gas
2007-10-05
DON'T BUY

DZR-X (Dead)

$0.400

Diaz Resources Ltd


Did quite poorly over the last couple of years. Have assets in Wilcox County, Texas and it has been tough slugging. Spent a lot of time/capital drilling big, expensive wells. Difficult to get to and difficult to drill. Asset base in Canada is in southeastern Alberta, which has been in decline.
oil/gas
2007-10-05
DON'T BUY

FO-X

$0.680

Falcon Oil & Gas


Would not be a buyer of this company. The Hungary deep gas has always played into cycles. Really deep, complicated stuff. There is a lot of stock outstanding on this company.
oil/gas
2007-10-05
TOP PICK

FRO-N

$50.630

Frontline Ltd


A Norwegian company. Largest tanker company in the world. This is especially important to the yield hungry investor who has been playing the royalty trusts. Has about a 15% yield. Only trades at about 4X PE. Tanker stocks cash flow a significant amount of money. Try to pick it up closer to the $42 range.
Transportation
2007-10-05
SELL

OBE-T

$30.550

Obsidian Energy


Would sell this one and get into Crescent Point (CPG.UN-T), which has a more sustainable model.
oil/gas
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