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Stock Opinions by Jamie Horvat

COMMENT
Markets. Part of the crisis is that governments continue to print money and to stimulate. Part of the demand for gold is from central banks rather than holding euro dollars. Ultimate solution is monetary inflation, which eventually leads to stagflation and the printing of more money. Feels we are setting up for another 1976-1984 type of recovery, which is stagflation, lower sustained unemployment, more government involvement, slow muddling growth and hard assets acting as an inflation hedge.
Unknown
BUY
Continues to remain positive on this for the longer-term. Pretty good net margins, which continue to grow. Short-term, BHP Billiton (BHP-N) is talking about 16.5 million tons of capacity that they want to bring on, is affecting the stock negatively.
integrated mines
DON'T BUY
Not bullish on uranium. Doesn't really see the spot price escalating to $100 in the next year or so. Governments are looking to reduce their exposure. Not sure if the demand from China and India will offset the lack of demand from other nations. Doesn't think they are focused on growth for shareholders.
non-base metal mining
DON'T BUY
All Cdn banks have been pretty volatile sideways traders from around 2005. Considers that more as yield plays, not growth stories. In the short-term, they are being compressed on interest margins. There has also been a decline in consumer spending and mortgage lending has been flat. They could trade off a little more.
banks
BUY
Patent space will continue to have investors watching. Stock has been sideways for a while. In the short term, was under pressure for their bid for Mosaid (MSAD-T), which has fallen to the wayside now. Likes their prospects for growth.
electrical / electronic
HOLD
An exploration story in Burkina Faso, Ghana and Mali. Have 9 exploration properties. Recently updated their resource on their Kiaka deposit of 4 million ounces at about 1 gram per ton. Pressure is probably concern about liquidity. Longer-term, he likes the name.
precious metals
COMMENT
This is a growth by acquisition business. Relatively low margin and has been pretty steady Eddie. Good cash flow generator. Doesn't see a lot of long-term growth but if you're holding it for yield he would continue to do so.
other services
COMMENT
Great leverage to the silver price. Has been pretty sideways. He is positively inclined on the price of silver. They're growing from 24-25 million ounces a year to 40 million. Should get great leverage because they don't share in the operating side of the business. Just increased dividends based on cash flow generation of the prior quarter.
metal mines
COMMENT
Based in Eritrea, which has some higher political risks. Recently had a really good quarter. Converting from a gold company to a base metals producer.
precious metals
TOP PICK
Car loans. They do C and D types of credit. They continue to grow at 20%-25% compound interest annually. Just had a record quarter. 5.7% yield. Has a history of paying special dividends.
Financial Services
TOP PICK
Top Short North America's largest aggregates producer. Largely just crushing rock, which is a difficult, low margin business. This last quarter they lost another $0.13 and recently cut the dividend. He recently added a short at $31-$32.
cement / concrete
TOP PICK
Silver in Guatemala. Growing into a 3 billion market cap kind of business. Significant exploration upside and potential for growth.
Mining
PAST TOP PICK
(A Top Pick Nov 26/10. Down 1.52%.)
precious metals
PAST TOP PICK
(A Top Pick Nov 26/10. Down 40.8%.) A third of their projects was in Libya. Sold his holdings but is looking at it again.
INDUSTRIAL PRODUCTS
PAST TOP PICK

(Top Short Nov 26/10. Up 11.81%.)

INDUSTRIAL PRODUCTS
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