Stock Opinions by Don Lato - Stockchase Experts
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Don Lato @

On Stockchase since : Nov 2007

President at Padlock Investment Management

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Don Lato Latest Top Picks...

Stock Opinions by Don Lato - Stockchase Experts

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DON'T BUY
Shopify Inc.(SHOP-T) 

March 13, 2019

A great business with lots of new customers. He's a Growth at a Reasonable Price investor (GARP), so he can't justify buying it now at this price. Sure, it may hit $300 later this year, but it doesn't fit his strategy.
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A great business with lots of new customers. He's a Growth at a Reasonable Price investor (GARP), so he can't justify buying it now at this price. Sure, it may hit $300 later this year, but it doesn't fit his strategy.
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Don Lato

President, Padlock Investment M...

Price Price
$273.380
Owned Owned
No

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BUY
Visa Inc.(V-N) 

March 13, 2019

Visa vs. Mastercard He's owned both for 10 years. Now, Visa is slightly cheaper, but neither are cheap. 24x earnings for both. But growth is also high in the high-teens. PEG ratio is 1.3 for both. You can't go wrong with either.
other services
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Visa vs. Mastercard He's owned both for 10 years. Now, Visa is slightly cheaper, but neither are cheap. 24x earnings for both. But growth is also high in the high-teens. PEG ratio is 1.3 for both. You can't go wrong with either.
other services
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Don Lato

President, Padlock Investment M...

Price Price
$152.470
Owned Owned
Yes

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COMMENT
Hewlett-Packard Co(HPQ-N) 

March 13, 2019

He doesn't follow this closely, but it's in a strong sector. HP probably suffered an earnings decline recently. He owns Apple and Google instead--he'd rather bet on tech here. Nothing wrong with HP though, but it's not as strong as these two.
electrical/electronic
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He doesn't follow this closely, but it's in a strong sector. HP probably suffered an earnings decline recently. He owns Apple and Google instead--he'd rather bet on tech here. Nothing wrong with HP though, but it's not as strong as these two.
electrical/electronic
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Don Lato

President, Padlock Investment M...

Price Price
$19.610
Owned Owned
No

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BUY
Mastercard Inc.(MA-N) 

March 13, 2019

Visa vs. Mastercard He's owned both for 10 years. Now, Visa is slightly cheaper, but neither are cheap. 24x earnings for both. But growth is also high in the high-teens. PEG ratio is 1.3 for both. You can't go wrong with either.
other services
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Visa vs. Mastercard He's owned both for 10 years. Now, Visa is slightly cheaper, but neither are cheap. 24x earnings for both. But growth is also high in the high-teens. PEG ratio is 1.3 for both. You can't go wrong with either.
other services
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Don Lato

President, Padlock Investment M...

Price Price
$228.500
Owned Owned
Yes

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WEAK BUY
Netflix Inc.(NFLX-Q) 

March 13, 2019

Growth prospects despite huge PE? Yes it does, but it is trading at 88x this year's earnings. This doesn't work for his portfolio and he subscribes to Netflix himself. A great business model with huge retention, but they're facing competition with Amazon Prime, Google/Youtube and soon Apple. At least you'll get revenue increases when they continue to raise rates. It's rebounded the most in the FAANGs since Xmas Eve.
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Growth prospects despite huge PE? Yes it does, but it is trading at 88x this year's earnings. This doesn't work for his portfolio and he subscribes to Netflix himself. A great business model with huge retention, but they're facing competition with Amazon Prime, Google/Youtube and soon Apple. At least you'll get revenue increases when they continue to raise rates. It's rebounded the most in the FAANGs since Xmas Eve.
Unknown
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Don Lato

President, Padlock Investment M...

Price Price
$361.210
Owned Owned
Yes

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COMMENT
BCE Inc.(BCE-T) 

March 13, 2019

Sell now at $59 after buying at $50? Smart to buy during the Xmas pullback. The telcos are fairly valued now, so you can hold onto this and collect the good 5.3% yield. Internet demand won't diminish. Don't be anxious to sell it, but if you're a trader, sell.
telephone utilities
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Sell now at $59 after buying at $50? Smart to buy during the Xmas pullback. The telcos are fairly valued now, so you can hold onto this and collect the good 5.3% yield. Internet demand won't diminish. Don't be anxious to sell it, but if you're a trader, sell.
telephone utilities
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Don Lato

President, Padlock Investment M...

Price Price
$59.590
Owned Owned
Unknown

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TOP PICK
The company is well known in the southern US but unknown in the north and abroad. They started by inventing a super cooler and has diversified into outdoor drinkware and other outdoor products. It has a great online presence. It became public in the fall at $18 and has done very well. Mutiple isn't dirt cheap at 20x earnings. Has huge growth potential. (Analysts’ price target is $28.40)
Consumer Products
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The company is well known in the southern US but unknown in the north and abroad. They started by inventing a super cooler and has diversified into outdoor drinkware and other outdoor products. It has a great online presence. It became public in the fall at $18 and has done very well. Mutiple isn't dirt cheap at 20x earnings. Has huge growth potential. (Analysts’ price target is $28.40)
Consumer Products
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Don Lato

President, Padlock Investment M...

Price Price
$0.000
Owned Owned
Yes

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TOP PICK
It's one of the few remaining income funds. They've paid $1.20 dividend since 2007, monthly. They had a tough 2018 with issues in a subdivision. They have a payout ratio of 62-90%. Pays a secure 12% dividend. Their strong management can turn things around. (Analysts’ price target is $12.38)
investment companies/funds
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It's one of the few remaining income funds. They've paid $1.20 dividend since 2007, monthly. They had a tough 2018 with issues in a subdivision. They have a payout ratio of 62-90%. Pays a secure 12% dividend. Their strong management can turn things around. (Analysts’ price target is $12.38)
investment companies/funds
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Don Lato

President, Padlock Investment M...

Price Price
$9.680
Owned Owned
Yes

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TOP PICK
It's suffered the double-whammy of eliminating drug pricing talk by politicians in the U.S. and fears of Amazon getting into the pharma space. WBA has increased its dividend 43 years in a row and expect one in June. Trades at lower than 10x earnings. He thinks pricing fears are overblown. Targets this in the mid-$70s within 12 months. (Analysts’ price target is $74.35)
specialty stores
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It's suffered the double-whammy of eliminating drug pricing talk by politicians in the U.S. and fears of Amazon getting into the pharma space. WBA has increased its dividend 43 years in a row and expect one in June. Trades at lower than 10x earnings. He thinks pricing fears are overblown. Targets this in the mid-$70s within 12 months. (Analysts’ price target is $74.35)
specialty stores
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Don Lato

President, Padlock Investment M...

Price Price
$61.900
Owned Owned
Yes

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COMMENT
General Market Comment 

March 13, 2019

Ottawa has just grounded the Boeing 737. He doesn't own Boeing, but he doesn't know how big this issue will be, so stay away. Avoid it. The grounding has a significant impact. The FAA hasn't grounded the 737 and makes the US another outlier on the world stage. Air Canada is under pressure today. Westjet could take a hit due to this grounding. The trickling down will cost both airlines money. They may have to lease planes from other companies. A big problem. Boeing's competitors have their own issues as well...He's pretty comfortable about the current markets. December 2018 was an aberration, a terrible decline that perplexed many people including him. We've since had a very good earnings season since, with 69% of S&P companies beating the street....China and the US seem to be moving towards a deal. He doesn't see a return to December's pullback. Market valuation is fair at 16x for the S&P.
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Ottawa has just grounded the Boeing 737. He doesn't own Boeing, but he doesn't know how big this issue will be, so stay away. Avoid it. The grounding has a significant impact. The FAA hasn't grounded the 737 and makes the US another outlier on the world stage. Air Canada is under pressure today. Westjet could take a hit due to this grounding. The trickling down will cost both airlines money. They may have to lease planes from other companies. A big problem. Boeing's competitors have their own issues as well...He's pretty comfortable about the current markets. December 2018 was an aberration, a terrible decline that perplexed many people including him. We've since had a very good earnings season since, with 69% of S&P companies beating the street....China and the US seem to be moving towards a deal. He doesn't see a return to December's pullback. Market valuation is fair at 16x for the S&P.
Unknown
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Don Lato

President, Padlock Investment M...

Price Price
$0.000
Owned Owned
Unknown

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BUY
Likes it and has owned it for 4 years, but it has gone sidways the past 18 months. They acquired Innovia in late-2016 but had trouble digesting it. CCL was also hit by high resin prices in 2018. They seem to have overcome these issues. The stock isn't cheap but is now fairly valued. It's a good entry point now. They just increased their dividend.
packaging/containers
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Likes it and has owned it for 4 years, but it has gone sidways the past 18 months. They acquired Innovia in late-2016 but had trouble digesting it. CCL was also hit by high resin prices in 2018. They seem to have overcome these issues. The stock isn't cheap but is now fairly valued. It's a good entry point now. They just increased their dividend.
packaging/containers
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Don Lato

President, Padlock Investment M...

Price Price
$54.020
Owned Owned
Yes

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BUY
The Canadian banks are good value. They've come off their highs in the recent reports, due to the harsh market action in Q4 2018. CIBC is the cheapest of the pack in terms of PE and highest yield, but it's also had its issues. It's priced accordingly. He likes the American exposure of TD, though. These are not expensive stocks. You can't go wrong with these banks.
banks
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The Canadian banks are good value. They've come off their highs in the recent reports, due to the harsh market action in Q4 2018. CIBC is the cheapest of the pack in terms of PE and highest yield, but it's also had its issues. It's priced accordingly. He likes the American exposure of TD, though. These are not expensive stocks. You can't go wrong with these banks.
banks
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Don Lato

President, Padlock Investment M...

Price Price
$111.950
Owned Owned
No

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BUY on WEAKNESS
American Tower(AMT-N) 

March 13, 2019

A great company and likely a good long-term hold, but it keeps setting new highs. It has great prospects for growth with the influx of 5G. It's structured like a REIT so they payout 90% of income. The yield has fallen to 1.9% because the stock has zoomed up. The 50-day moving average is $170 so look for that level.
Telecommunications
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A great company and likely a good long-term hold, but it keeps setting new highs. It has great prospects for growth with the influx of 5G. It's structured like a REIT so they payout 90% of income. The yield has fallen to 1.9% because the stock has zoomed up. The 50-day moving average is $170 so look for that level.
Telecommunications
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Don Lato

President, Padlock Investment M...

Price Price
$187.230
Owned Owned
Unknown

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SELL
They're trying to cut costs and sell holdings. If you hold this, then take a loss now. There's too much confusion, disappointment and debt. Unless they can turn around their businesses, then debt will continue to deepen. Avoid it. (He nearly bought it last summer.
computer software/processing
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They're trying to cut costs and sell holdings. If you hold this, then take a loss now. There's too much confusion, disappointment and debt. Unless they can turn around their businesses, then debt will continue to deepen. Avoid it. (He nearly bought it last summer.
computer software/processing
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Don Lato

President, Padlock Investment M...

Price Price
$6.870
Owned Owned
No

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BUY
He's liked this for a long time; it's his biggest Canadian holding. They struggled a little in latter-2018, failing to sell Colombian assets. They took that off the market in December 2018. They've been aggressively buying back their stock and will continue to this year until that Colombian bid runs out. Trading at 3x cash flow. They still have excellent exploration properties. Well-managed. A cheap stock.
oil/gas
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He's liked this for a long time; it's his biggest Canadian holding. They struggled a little in latter-2018, failing to sell Colombian assets. They took that off the market in December 2018. They've been aggressively buying back their stock and will continue to this year until that Colombian bid runs out. Trading at 3x cash flow. They still have excellent exploration properties. Well-managed. A cheap stock.
oil/gas
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Don Lato

President, Padlock Investment M...

Price Price
$21.310
Owned Owned
Yes

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BUY
He'd step into it. It's a sector leader. Didn't have a good Q4, but no bank did. It's an opportunity now. Pays a good dividend and run by a good CEO.
Financial Services
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He'd step into it. It's a sector leader. Didn't have a good Q4, but no bank did. It's an opportunity now. Pays a good dividend and run by a good CEO.
Financial Services
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Don Lato

President, Padlock Investment M...

Price Price
$104.390
Owned Owned
No

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HOLD
He's owned this for four years, but it's struggled in the past two as they've transitioned from their hepatitis C drug era (limited growth). But they just announced great results on a new HIV drug. It's a value trap though looking cheap at 9x earnings. Pays a 3.8% dividend. They still generate lots of cash flow. He'd stick with it. At least you get that yield. Also, they just got a new CEO, so they're in transition.
biotechnology/pharmaceutical
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He's owned this for four years, but it's struggled in the past two as they've transitioned from their hepatitis C drug era (limited growth). But they just announced great results on a new HIV drug. It's a value trap though looking cheap at 9x earnings. Pays a 3.8% dividend. They still generate lots of cash flow. He'd stick with it. At least you get that yield. Also, they just got a new CEO, so they're in transition.
biotechnology/pharmaceutical
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Don Lato

President, Padlock Investment M...

Price Price
$65.750
Owned Owned
Yes

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PAST TOP PICK
(A Top Pick Apr 20/18, Down 65%) It's gone through turmoil over the last year. A great, well-managed company, but the problem is lots of new supply entering the market in the past year. They've had to cut operations, but retain loyal contracts. Their EBITDA remains flat. They also confused the market 9 months when they talked about converting to a corporation so they boosted their dividend, got into problems, then had to cut it. Never good. They disappointed a lot of people. April 11 is the date when shareholders vote on the corporation; a lot of limited partnership funds won't be able to own this if they turn into a corporation. HCLP remains a strong player in this sector, though.
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(A Top Pick Apr 20/18, Down 65%) It's gone through turmoil over the last year. A great, well-managed company, but the problem is lots of new supply entering the market in the past year. They've had to cut operations, but retain loyal contracts. Their EBITDA remains flat. They also confused the market 9 months when they talked about converting to a corporation so they boosted their dividend, got into problems, then had to cut it. Never good. They disappointed a lot of people. April 11 is the date when shareholders vote on the corporation; a lot of limited partnership funds won't be able to own this if they turn into a corporation. HCLP remains a strong player in this sector, though.
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Don Lato

President, Padlock Investment M...

Price Price
$4.300
Owned Owned
Yes

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PAST TOP PICK
Toronto Dominion(TD-T) 

March 13, 2019

(A Top Pick Apr 20/18, Up 10%) He likes the US exposure. Pays over 4% yield. It won't double in the coming year, but he expects 5-6% capital appreciation. He's happy to stick with it. A good entry point now.
banks
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(A Top Pick Apr 20/18, Up 10%) He likes the US exposure. Pays over 4% yield. It won't double in the coming year, but he expects 5-6% capital appreciation. He's happy to stick with it. A good entry point now.
banks
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Don Lato

President, Padlock Investment M...

Price Price
$75.160
Owned Owned
Yes

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PAST TOP PICK
(A Top Pick Apr 20/18, Up 34%) Still likes the US retail space--strong same-store sales growth and are opening new stores. They open 100 per year with 1,100 total. Same-store sales growth is 7-8% yearly. They just announced the new Kylie line and the stock jumped. Well-managed with lots of room to grow. They're aiming for 2,000 stores yet their online hasn't suffered.
Consumer Products
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(A Top Pick Apr 20/18, Up 34%) Still likes the US retail space--strong same-store sales growth and are opening new stores. They open 100 per year with 1,100 total. Same-store sales growth is 7-8% yearly. They just announced the new Kylie line and the stock jumped. Well-managed with lots of room to grow. They're aiming for 2,000 stores yet their online hasn't suffered.
Consumer Products
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Don Lato

President, Padlock Investment M...

Price Price
$315.440
Owned Owned
Yes

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COMMENT
General Market Comment 

December 21, 2018

Market Outlook Since Q3 the market has been downhill. There is too much uncertainty -- with arrests, indictments, and espionage leading the way. The recent Fed announcement hinted at raising rates next year, causing a 1000 point turnaround. He is not prepared to say the absolute worst is over, but for a long term investor there is great value. It is too late to exit holdings now. Lots of good value in the energy sector with tax loss selling. Hedge fund year end redemptions are also pulling the market down. He feels this could all lead to fresh buying early in the new year.
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Market Outlook Since Q3 the market has been downhill. There is too much uncertainty -- with arrests, indictments, and espionage leading the way. The recent Fed announcement hinted at raising rates next year, causing a 1000 point turnaround. He is not prepared to say the absolute worst is over, but for a long term investor there is great value. It is too late to exit holdings now. Lots of good value in the energy sector with tax loss selling. Hedge fund year end redemptions are also pulling the market down. He feels this could all lead to fresh buying early in the new year.
Unknown
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Don Lato

President, Padlock Investment M...

Price Price
$0.000
Owned Owned
_N/A

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HOLD
This is a good defensive stock -- trading to 52 week highs lately. Tariffs issues don't come into play with this one. It has a decent yield. A nice bump up in subscribers last quarter. A good company at an attractive price.
Cable
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This is a good defensive stock -- trading to 52 week highs lately. Tariffs issues don't come into play with this one. It has a decent yield. A nice bump up in subscribers last quarter. A good company at an attractive price.
Cable
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Don Lato

President, Padlock Investment M...

Price Price
$68.550
Owned Owned
Yes

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HOLD
Hi-Crush Partners LP(HCLP-N) 

December 21, 2018

This frac-sand player is in a sector that has been decimated lately. He will continue to hold this one. Still on schedule to pay a dividend of $0.22 per share early next year. Bringing on a new mine has been easier than people thought, bringing more competition that expected. This could be a prime candidate for a tax-loss selling play. They are still forecasting growth next year.
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This frac-sand player is in a sector that has been decimated lately. He will continue to hold this one. Still on schedule to pay a dividend of $0.22 per share early next year. Bringing on a new mine has been easier than people thought, bringing more competition that expected. This could be a prime candidate for a tax-loss selling play. They are still forecasting growth next year.
0
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Don Lato

President, Padlock Investment M...

Price Price
$3.280
Owned Owned
Yes

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HOLD
Amazon.com(AMZN-Q) 

December 21, 2018

He would defer any sales until early next year, due to the recent pullback, if one was thinking of taking profit. If the market bounces up, this one will definitely participate. It is not growing profits at 50% annually anymore. He would continue to hold if you already do.
specialty stores
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He would defer any sales until early next year, due to the recent pullback, if one was thinking of taking profit. If the market bounces up, this one will definitely participate. It is not growing profits at 50% annually anymore. He would continue to hold if you already do.
specialty stores
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Don Lato

President, Padlock Investment M...

Price Price
$1377.450
Owned Owned
Unknown

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BUY
Alphabet Inc (C)(GOOG-Q) 

December 21, 2018

It has been a long term holding and he is very positive. It trades 18 times next years earnings, which continue to grow at 20% per year. They still dominate the market. Some of their "other bets" will payoff soon. He would buy this as a long term holding.
Business Services
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0 comments
It has been a long term holding and he is very positive. It trades 18 times next years earnings, which continue to grow at 20% per year. They still dominate the market. Some of their "other bets" will payoff soon. He would buy this as a long term holding.
Business Services
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0 comments
Don Lato

President, Padlock Investment M...

Price Price
$979.540
Owned Owned
Yes

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HOLD
Gilead Sciences Inc.(GILD-Q) 

December 21, 2018

He still likes it here and especially at these valuations. The new CEO will be good. They have announced a couple of new joint ventures and it is trading at less than 10 times earnings. Their HEP-C advantage has been declining, but they have growth in their HIV franchise.
biotechnology/pharmaceutical
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0 comments
He still likes it here and especially at these valuations. The new CEO will be good. They have announced a couple of new joint ventures and it is trading at less than 10 times earnings. Their HEP-C advantage has been declining, but they have growth in their HIV franchise.
biotechnology/pharmaceutical
0 0 0 0 0
0 comments
Don Lato

President, Padlock Investment M...

Price Price
$62.620
Owned Owned
Unknown

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COMMENT
MEG Energy Corp(MEG-T) 

December 21, 2018

Breaking News The unsolicited offer has been given an exemption by the ASC that avoids having to provide identical consideration to all securities holders. This means MEG will plan to waive its shareholder rights plan, but still plans to reject the offer the Husky. He feels this is an unusual decision by the ASC and MEG, but does not have an opinion on the issues.
oil/gas
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0 comments
Breaking News The unsolicited offer has been given an exemption by the ASC that avoids having to provide identical consideration to all securities holders. This means MEG will plan to waive its shareholder rights plan, but still plans to reject the offer the Husky. He feels this is an unusual decision by the ASC and MEG, but does not have an opinion on the issues.
oil/gas
0 0 0 0 0
0 comments
Don Lato

President, Padlock Investment M...

Price Price
$7.430
Owned Owned
_N/A

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COMMENT
Husky Energy(HSE-T) 

December 21, 2018

Breaking News The unsolicited offer has been given an exemption by the ASC that avoids having to provide identical consideration to all securities holders. This means MEG will plan to waive its shareholder rights plan, but still plans to reject the offer the Husky. He feels this is an unusual decision by the ASC and MEG, but does not have an opinion on the issues.
oil/gas
0 0 0 0 0
0 comments
Breaking News The unsolicited offer has been given an exemption by the ASC that avoids having to provide identical consideration to all securities holders. This means MEG will plan to waive its shareholder rights plan, but still plans to reject the offer the Husky. He feels this is an unusual decision by the ASC and MEG, but does not have an opinion on the issues.
oil/gas
0 0 0 0 0
0 comments
Don Lato

President, Padlock Investment M...

Price Price
$13.660
Owned Owned
_N/A

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COMMENT
Great West Lifeco(GWO-T) 

December 21, 2018

General opinion of the sector The insurance group had run up earlier in the year as longer term interest rates were expected to rise. However, as short term rates have risen faster this has taken the wind out of the sails. There is still more upside in rates and with yields of 5%, it is a good long term holding. The MFC-T lawsuit over long term contracts will create uncertainty.
insurance
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0 comments
General opinion of the sector The insurance group had run up earlier in the year as longer term interest rates were expected to rise. However, as short term rates have risen faster this has taken the wind out of the sails. There is still more upside in rates and with yields of 5%, it is a good long term holding. The MFC-T lawsuit over long term contracts will create uncertainty.
insurance
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0 comments
Don Lato

President, Padlock Investment M...

Price Price
$27.100
Owned Owned
Unknown

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COMMENT
Manulife Financial(MFC-T) 

December 21, 2018

General opinion of the sector The insurance group had run up earlier in the year as longer term interest rates were expected to rise. However, as short term rates have risen faster this has taken the wind out of the sails. There is still more upside in rates and with yields of 5%, it is a good long term holding. The MFC-T lawsuit over long term contracts will create uncertainty.
insurance
0 0 0 0 0
0 comments
General opinion of the sector The insurance group had run up earlier in the year as longer term interest rates were expected to rise. However, as short term rates have risen faster this has taken the wind out of the sails. There is still more upside in rates and with yields of 5%, it is a good long term holding. The MFC-T lawsuit over long term contracts will create uncertainty.
insurance
0 0 0 0 0
0 comments
Don Lato

President, Padlock Investment M...

Price Price
$18.620
Owned Owned
Unknown

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