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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Stock Opinions by Don Lato - Stockchase Experts

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COMMENT
General Market Comment 

December 21, 2018

How does a small investor afford GOOG-N? Trading board lots does not make a difference anymore. It all depends on your dollar amount to invest. If GOOG split 100:1, it would not make any difference in his opinion -- it should not dissuade you from investing. Yes, a lower share price might attract more investors. Stay away from stock consolidations -- this is a troubling sign.
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How does a small investor afford GOOG-N? Trading board lots does not make a difference anymore. It all depends on your dollar amount to invest. If GOOG split 100:1, it would not make any difference in his opinion -- it should not dissuade you from investing. Yes, a lower share price might attract more investors. Stay away from stock consolidations -- this is a troubling sign.
Unknown
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Don Lato

President, Padlock Investment M...

Price Price
$0.000
Owned Owned
_N/A

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PAST TOP PICK
(A Top Pick Nov 30/17, Down 37%) The 2018 earnings have kept pace, the valuation multiples have simply collapsed. They trade at 7.3 times EBITDA versus historical levels of 11 times. They still see new store openings, maybe not with the same growth rate. Housing has slowed, which may slow sales. Still a great bet and very cheap. If he had new money, he would be buying.
household goods
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(A Top Pick Nov 30/17, Down 37%) The 2018 earnings have kept pace, the valuation multiples have simply collapsed. They trade at 7.3 times EBITDA versus historical levels of 11 times. They still see new store openings, maybe not with the same growth rate. Housing has slowed, which may slow sales. Still a great bet and very cheap. If he had new money, he would be buying.
household goods
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Don Lato

President, Padlock Investment M...

Price Price
$19.330
Owned Owned
Yes

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PAST TOP PICK
Walgreen Boots Alliance(WBA-Q) 

December 21, 2018

(A Top Pick Nov 30/17, Down 3%) Holding its own given the recent drop in markets in general. Just in the last week it has weaken based on a weak report from GoldmanSachs. They have recently guided earnings in line with market expectations. The European market slowdown is creating headwinds. It trades at less than 10 times earnings and over 2% yield with rising dividends expected next year.
specialty stores
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(A Top Pick Nov 30/17, Down 3%) Holding its own given the recent drop in markets in general. Just in the last week it has weaken based on a weak report from GoldmanSachs. They have recently guided earnings in line with market expectations. The European market slowdown is creating headwinds. It trades at less than 10 times earnings and over 2% yield with rising dividends expected next year.
specialty stores
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Don Lato

President, Padlock Investment M...

Price Price
$67.260
Owned Owned
Unknown

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PAST TOP PICK
Parex Resources Inc.(PXT-T) 

December 21, 2018

(A Top Pick Nov 30/17, Down 9%) A change in strategy seems to have confused investors. The assets continue to grow and they have had good success with the assets in Colombia. It is as cheap a stock as you can find. This is a table pounding buy.
oil/gas
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(A Top Pick Nov 30/17, Down 9%) A change in strategy seems to have confused investors. The assets continue to grow and they have had good success with the assets in Colombia. It is as cheap a stock as you can find. This is a table pounding buy.
oil/gas
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Don Lato

President, Padlock Investment M...

Price Price
$15.100
Owned Owned
Yes

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COMMENT
General Market Comment 

December 21, 2018

CAD currency and stock values. If commodity values weaken then our stock index will weaken. This would put pressure on the Canadian dollar. Most of the majors are inter-listed on US exchanges and benefit from re-trading. You would be unwise to buy US stocks right now, due to the weakness in our currency.
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CAD currency and stock values. If commodity values weaken then our stock index will weaken. This would put pressure on the Canadian dollar. Most of the majors are inter-listed on US exchanges and benefit from re-trading. You would be unwise to buy US stocks right now, due to the weakness in our currency.
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Don Lato

President, Padlock Investment M...

Price Price
$0.000
Owned Owned
_N/A

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COMMENT
Aurora Cannabis(ACB-T) 

December 21, 2018

He is not an expert in cannabis. There will be real industry going forward and some companies will prosper in the long term. The valuations still remain excessive. If he were to participate it would be with Canopy Growth as they have a connection with Constellation Brands in the US.
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He is not an expert in cannabis. There will be real industry going forward and some companies will prosper in the long term. The valuations still remain excessive. If he were to participate it would be with Canopy Growth as they have a connection with Constellation Brands in the US.
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Don Lato

President, Padlock Investment M...

Price Price
$6.670
Owned Owned
No

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COMMENT
He is not an expert in cannabis. There will be real industry going forward and some companies will prosper in the long term. The valuations still remain excessive. If he were to participate it would be with Canopy Growth as they have a connection with Constellation Brands in the US.
E.T.F.'s
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He is not an expert in cannabis. There will be real industry going forward and some companies will prosper in the long term. The valuations still remain excessive. If he were to participate it would be with Canopy Growth as they have a connection with Constellation Brands in the US.
E.T.F.'s
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Don Lato

President, Padlock Investment M...

Price Price
$14.040
Owned Owned
No

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COMMENT
Canopy Growth Corp.(WEED-T) 

December 21, 2018

He is not an expert in cannabis. There will be real industry going forward and some companies will prosper in the long term. The valuations still remain excessive. If he were to participate it would be with Canopy Growth as they have a connection with Constellation Brands in the US.
agriculture
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He is not an expert in cannabis. There will be real industry going forward and some companies will prosper in the long term. The valuations still remain excessive. If he were to participate it would be with Canopy Growth as they have a connection with Constellation Brands in the US.
agriculture
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Don Lato

President, Padlock Investment M...

Price Price
$36.000
Owned Owned
No

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DON'T BUY
Freehold Royalties(FRU-T) 

December 21, 2018

His longer term concern is that as a royalty, their cash flow will be declining with reduced exploration. Until there is better clarification on pipeline issues, he is luke-warm on the Canadian energy sector. He believes the monthly dividend is fairly secure, but worries about it longer term. Yield 7.9%
oil/gas
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His longer term concern is that as a royalty, their cash flow will be declining with reduced exploration. Until there is better clarification on pipeline issues, he is luke-warm on the Canadian energy sector. He believes the monthly dividend is fairly secure, but worries about it longer term. Yield 7.9%
oil/gas
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Don Lato

President, Padlock Investment M...

Price Price
$7.970
Owned Owned
No

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DON'T BUY
Shopify Inc.(SHOP-T) 

December 21, 2018

This is a wonderful company, but the valuation has always been to high for him to buy. The price has fallen as the company announced an offering as the market questioned the needs for the funds. He would suggest taking some tax-loss selling and re-position next year.
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This is a wonderful company, but the valuation has always been to high for him to buy. The price has fallen as the company announced an offering as the market questioned the needs for the funds. He would suggest taking some tax-loss selling and re-position next year.
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Don Lato

President, Padlock Investment M...

Price Price
$166.390
Owned Owned
No

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BUY
Visa Inc.(V-N) 

December 21, 2018

Visa vs Mastercard? He has held both for many years. At current values, Visa is a great value trading at 20 times earnings -- as cheap as he has seen in a while. He is surprised Visa is trading at a discount to Mastercard -- not typically the case. Long term growth of e-trade is expanding worldwide and there is a long runway for both. He would buy it here. (Analysts’ price target is $162.00)
other services
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Visa vs Mastercard? He has held both for many years. At current values, Visa is a great value trading at 20 times earnings -- as cheap as he has seen in a while. He is surprised Visa is trading at a discount to Mastercard -- not typically the case. Long term growth of e-trade is expanding worldwide and there is a long runway for both. He would buy it here. (Analysts’ price target is $162.00)
other services
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Don Lato

President, Padlock Investment M...

Price Price
$124.260
Owned Owned
Yes

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COMMENT
General Market Comment 

December 21, 2018

Dollar Cost Averaging He has been guilty of this -- sometimes it works out. If the outlook has not changed and you believe in the business model it can be a good strategy. It is tricky to find a true bottom in price. If something gets under-weighted in your portfolio it also makes sense.
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Dollar Cost Averaging He has been guilty of this -- sometimes it works out. If the outlook has not changed and you believe in the business model it can be a good strategy. It is tricky to find a true bottom in price. If something gets under-weighted in your portfolio it also makes sense.
Unknown
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Don Lato

President, Padlock Investment M...

Price Price
$0.000
Owned Owned
_N/A

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STRONG BUY
Tricon Capital Group(TCN-T) 

December 21, 2018

This is a great entry point. A play on the US single-family real estate market. They earn profits on their own property and management fees on the properties they manage. It trades at under 10 times earnings and pays a US dollar dividend.
REAL ESTATE
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This is a great entry point. A play on the US single-family real estate market. They earn profits on their own property and management fees on the properties they manage. It trades at under 10 times earnings and pays a US dollar dividend.
REAL ESTATE
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Don Lato

President, Padlock Investment M...

Price Price
$9.580
Owned Owned
Unknown

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TOP PICK
Parex Resources Inc.(PXT-T) 

December 21, 2018

Any bids they received on assets for sale were rejected this week by the company. They felt the market was not showing strong enough bids -- primarily with oil prices trading a depressed levels currently. The company is undertaking a bid for 10% of their float of stock, which is nicely impacting the share price. Trading at less than 2.7 times next year's cash flow, which is also growing by 20%. Their production is priced on Brent oil prices. A table pounding buy. Yield 0% (Analysts’ price target is $29.11)
oil/gas
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Any bids they received on assets for sale were rejected this week by the company. They felt the market was not showing strong enough bids -- primarily with oil prices trading a depressed levels currently. The company is undertaking a bid for 10% of their float of stock, which is nicely impacting the share price. Trading at less than 2.7 times next year's cash flow, which is also growing by 20%. Their production is priced on Brent oil prices. A table pounding buy. Yield 0% (Analysts’ price target is $29.11)
oil/gas
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Don Lato

President, Padlock Investment M...

Price Price
$15.100
Owned Owned
Yes

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TOP PICK
Greensky Inc.(GSKY-N) 

December 21, 2018

A fin-tech company that had its IPO in May. It has traded as a dog since then. Their recent earnings guidance was a bit below analyst estimates, which has hurt the share price. It has collapsed to 13 times earnings. The company has developed a portal where customers can apply for loans instantly for home repairs from several vendors -- including major banks. They have expanded their offerings into loans for elective surgery. The company continues to expect 20% earnings growth. He has averaged down on his holdings. He sees the next earnings report on February 5 being key. Yield 0%. (Analysts’ price target is $11.61)
Financial Services
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A fin-tech company that had its IPO in May. It has traded as a dog since then. Their recent earnings guidance was a bit below analyst estimates, which has hurt the share price. It has collapsed to 13 times earnings. The company has developed a portal where customers can apply for loans instantly for home repairs from several vendors -- including major banks. They have expanded their offerings into loans for elective surgery. The company continues to expect 20% earnings growth. He has averaged down on his holdings. He sees the next earnings report on February 5 being key. Yield 0%. (Analysts’ price target is $11.61)
Financial Services
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Don Lato

President, Padlock Investment M...

Price Price
$0.000
Owned Owned
Yes

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