Stock Opinions by Veronika Hirsch - Stockchase Experts
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Veronika Hirsch @

On Stockchase since : Jun 2003

Chief Investment Officer at Arrow Capital

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Veronika Hirsch Latest Top Picks...

Stock Opinions by Veronika Hirsch - Stockchase Experts

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COMMENT
General Market Comment 

February 20, 2019

TSX rises above 16000 since October. Interesting couple of months. December selloff didn't make sense. The bounce was sharper than expected. Not sure what market's discounting. Fed's changed mind about raising rates. Market reacts to every bit of news on US-China trade.
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TSX rises above 16000 since October. Interesting couple of months. December selloff didn't make sense. The bounce was sharper than expected. Not sure what market's discounting. Fed's changed mind about raising rates. Market reacts to every bit of news on US-China trade.
Unknown
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$0.000
Owned Owned
Unknown

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COMMENT
General Market Comment 

February 20, 2019

Fed minutes. There's more consensus now than a month ago. Dot plot had people freaked out. Interest rate increases were discombobulating. Chair got it wrong, but he clarified what he meant on balance sheets and interest rates, and the market calmed down.
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Fed minutes. There's more consensus now than a month ago. Dot plot had people freaked out. Interest rate increases were discombobulating. Chair got it wrong, but he clarified what he meant on balance sheets and interest rates, and the market calmed down.
Unknown
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$0.000
Owned Owned
Unknown

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COMMENT
General Market Comment 

February 20, 2019

China-US trade relations. Important for Trump to reach resolution for the 2020 election. China's economy is transitioning from exports to a more domestic consumer. Issues are complex, as it's about technology in addition to trade. Market's expecting a deal, and we will get one, but the question is what that deal will look like.
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China-US trade relations. Important for Trump to reach resolution for the 2020 election. China's economy is transitioning from exports to a more domestic consumer. Issues are complex, as it's about technology in addition to trade. Market's expecting a deal, and we will get one, but the question is what that deal will look like.
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$0.000
Owned Owned
Unknown

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WATCH
Dollarama Inc.(DOL-T) 

February 20, 2019

An incredible story, a ten bagger. Has stalled out. Issue was that margins were challenged because of competition from the likes of Canadian Tire. Still, the multiple has come down. Fantastic merchandisers. Reluctant to call it a sell, because of quality management. But would like to see a really good quarter before she steps in.
Consumer Products
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An incredible story, a ten bagger. Has stalled out. Issue was that margins were challenged because of competition from the likes of Canadian Tire. Still, the multiple has come down. Fantastic merchandisers. Reluctant to call it a sell, because of quality management. But would like to see a really good quarter before she steps in.
Consumer Products
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$37.090
Owned Owned
No

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COMMENT
Uni-Select Inc(UNS-T) 

February 20, 2019

Amazon is not the problem. Going to review selling off businesses, and look for a new CEO. But they haven't commented on these issues, so market assumes nothing good will happen, and so the stock went down.
wholesale distributors
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Amazon is not the problem. Going to review selling off businesses, and look for a new CEO. But they haven't commented on these issues, so market assumes nothing good will happen, and so the stock went down.
wholesale distributors
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$14.900
Owned Owned
Unknown

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WAIT
Vermilion Energy Inc(VET-T) 

February 20, 2019

One of her favourite energy stocks. We've had several false bottoms, so she's not sure this is the bottom. Good geographic diversification, and not reliant on Canadian prices. Likes the management. (Analysts’ price target is $41.27)
oil/gas
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One of her favourite energy stocks. We've had several false bottoms, so she's not sure this is the bottom. Good geographic diversification, and not reliant on Canadian prices. Likes the management. (Analysts’ price target is $41.27)
oil/gas
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$33.580
Owned Owned
Unknown

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HOLD
Another 10 bagger. Growth by acquisition. Latest quarter was way better than expected. They've now started to declare the value of the assets. There's also some organic growth. Management team's fantastic. Paid a one-time dividend, which is good, but does it mean they have nothing else to spend their money on. Hang on to it.
computer software/processing
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Another 10 bagger. Growth by acquisition. Latest quarter was way better than expected. They've now started to declare the value of the assets. There's also some organic growth. Management team's fantastic. Paid a one-time dividend, which is good, but does it mean they have nothing else to spend their money on. Hang on to it.
computer software/processing
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$1158.440
Owned Owned
Unknown

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COMMENT
Facebook(FB-Q) 

February 20, 2019

Not a fan because of the regulatory issues. It's not a long-term hold. She has a small short on it. As the US dollar rises, US earnings are worth less, but she wouldn't worry about this aspect. It's a good trade, as there is always lots of news on the stock, but you have to keep your eye on it.
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Not a fan because of the regulatory issues. It's not a long-term hold. She has a small short on it. As the US dollar rises, US earnings are worth less, but she wouldn't worry about this aspect. It's a good trade, as there is always lots of news on the stock, but you have to keep your eye on it.
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$162.560
Owned Owned
No

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HOLD
BCE Inc.(BCE-T) 

February 20, 2019

Blue chip. One of the premium dividend payers. One of the issues is that pricing power is not quite there. Not a growth story, but you can 100% hold it as a dividend play. Nothing to propel earnings higher in next 2-3 years, so she's not excited about it. No chatter about future acquisitions. Great company, great management team. Yield is 5.5%.
telephone utilities
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Blue chip. One of the premium dividend payers. One of the issues is that pricing power is not quite there. Not a growth story, but you can 100% hold it as a dividend play. Nothing to propel earnings higher in next 2-3 years, so she's not excited about it. No chatter about future acquisitions. Great company, great management team. Yield is 5.5%.
telephone utilities
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$57.680
Owned Owned
No

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HOLD
Great growth by acquisition story for decades. Stumbled a bit in the last year and a half, nothing serious. Earnings flatlined. You'll see acceleration again. Competitors have reported good earnings on gasoline. Expecting a good number, and you'll see the multiple increase. Still $10 left in this stock.
food stores
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Great growth by acquisition story for decades. Stumbled a bit in the last year and a half, nothing serious. Earnings flatlined. You'll see acceleration again. Competitors have reported good earnings on gasoline. Expecting a good number, and you'll see the multiple increase. Still $10 left in this stock.
food stores
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$73.080
Owned Owned
Unknown

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PAST TOP PICK
CCL Industries (B)(CCL.B-T) 

February 20, 2019

(A Top Pick Feb 28/18, Down 9%) Resin prices rose sharply, which they mostly passed on to customers. So serious margin contraction, but this has been alleviated now.
packaging/containers
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(A Top Pick Feb 28/18, Down 9%) Resin prices rose sharply, which they mostly passed on to customers. So serious margin contraction, but this has been alleviated now.
packaging/containers
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$57.380
Owned Owned
Yes

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PAST TOP PICK
(A Top Pick Feb 28/18, Down 21%) Bought Canopy. She thinks this was a great buy, but others think it an expensive acquisition with no immediate payout. Consumer stocks haven't participated in the recent rally, as they are more defensive. Likes management. Five years from now, the acquisition will seem like a smart buy.
breweries/beverages
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(A Top Pick Feb 28/18, Down 21%) Bought Canopy. She thinks this was a great buy, but others think it an expensive acquisition with no immediate payout. Consumer stocks haven't participated in the recent rally, as they are more defensive. Likes management. Five years from now, the acquisition will seem like a smart buy.
breweries/beverages
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$166.980
Owned Owned
Yes

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PAST TOP PICK
Cisco(CSCO-Q) 

February 20, 2019

(A Top Pick Feb 28/18, Up 14%) Better than expected numbers for margins and guidance. Everyone was excited about that.
electrical/electronic
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(A Top Pick Feb 28/18, Up 14%) Better than expected numbers for margins and guidance. Everyone was excited about that.
electrical/electronic
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$49.630
Owned Owned
No

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DON'T BUY
Bank of Nova Scotia(BNS-T) 

February 20, 2019

Not currently invested in any of Canadian banks. The feeling is that numbers will not be great. BNS will have elevated costs from acquisitions. This one would be at the bottom of her list for banks.
banks
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Not currently invested in any of Canadian banks. The feeling is that numbers will not be great. BNS will have elevated costs from acquisitions. This one would be at the bottom of her list for banks.
banks
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$75.580
Owned Owned
No

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COMMENT
Canadian National R.R.(CNR-T) 

February 20, 2019

Bullish on the stock. Upcoming quarter might be challenged because of the weather, so Q1 won't be as good as Q4. Pricing power is good, volume is increasing. A great business. Makes sense to hedge the first quarter, but she wouldn't worry about hedging this sector for a whole year.
Transportation
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Bullish on the stock. Upcoming quarter might be challenged because of the weather, so Q1 won't be as good as Q4. Pricing power is good, volume is increasing. A great business. Makes sense to hedge the first quarter, but she wouldn't worry about hedging this sector for a whole year.
Transportation
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$113.390
Owned Owned
Unknown

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