Stock Opinions by Barry Schwartz - Stockchase Experts
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Barry Schwartz @

On Stockchase since : Sep 2009

CIO & Portfolio Manager at Baskin Wealth Management

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Stock Opinions by Barry Schwartz - Stockchase Experts

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COMMENT
General Market Comment 

January 25, 2019

They kicked the can down the road by re-opening the US government today. Now, can the US solve the China tariff issue? Then, we can focus on the economy and fundamentals. We'll return to mediocre or slightly above average 3-7% earnings growth, but don't expect 18% growth as we did in 2008 right before that recession. This is good. Of course, some companies like Intel today will disappoint, but that's normal. Don't invest with your gut (emotional), but stick to the long-term. Investing is a marathon, not a sprint. When stocks plunge....do nothing. Nobody knowd what will happen, but we know what works over time. Be patient.
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They kicked the can down the road by re-opening the US government today. Now, can the US solve the China tariff issue? Then, we can focus on the economy and fundamentals. We'll return to mediocre or slightly above average 3-7% earnings growth, but don't expect 18% growth as we did in 2008 right before that recession. This is good. Of course, some companies like Intel today will disappoint, but that's normal. Don't invest with your gut (emotional), but stick to the long-term. Investing is a marathon, not a sprint. When stocks plunge....do nothing. Nobody knowd what will happen, but we know what works over time. Be patient.
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$0.000
Owned Owned
Unknown

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BUY on WEAKNESS
Waste Connections(WCN-T) 

January 25, 2019

He's long owned this. A commodity (garbage) business, but they know how to run a business and they also own their landfills. Generates a lot of fresh cash flow; dividend increases; and share buybacks. A U.S. company on the TSX, so you don't worry about exchange rate. A little pricey now, but buy on a pullback.
Transportation & Environmental Services
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He's long owned this. A commodity (garbage) business, but they know how to run a business and they also own their landfills. Generates a lot of fresh cash flow; dividend increases; and share buybacks. A U.S. company on the TSX, so you don't worry about exchange rate. A little pricey now, but buy on a pullback.
Transportation & Environmental Services
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$107.090
Owned Owned
Yes

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BUY
Stella-Jones Inc.(SJ-T) 

January 25, 2019

The founding families completely sold their shares, so SJ had a rough 2018. But this year could be a growth year. But this can be a cyclical business--replacing train tracks. They should grow revenues 3-5% a year and make further acquisitions. Expects dividend growth. Very undervalued.
misc industrial products
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The founding families completely sold their shares, so SJ had a rough 2018. But this year could be a growth year. But this can be a cyclical business--replacing train tracks. They should grow revenues 3-5% a year and make further acquisitions. Expects dividend growth. Very undervalued.
misc industrial products
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$41.990
Owned Owned
Unknown

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BUY
Toronto Dominion(TD-T) 

January 25, 2019

He loves Canadian banks and TD is his largest holding. Buy one bank and hold onto it for dear life. Forget constant worries about mortgages, housing, etc. The banks keep putting the puck in the net. He expects 8-10% earnings growth and dividend increases this year by them.
banks
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He loves Canadian banks and TD is his largest holding. Buy one bank and hold onto it for dear life. Forget constant worries about mortgages, housing, etc. The banks keep putting the puck in the net. He expects 8-10% earnings growth and dividend increases this year by them.
banks
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$72.920
Owned Owned
Yes

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DON'T BUY
Manulife Financial(MFC-T) 

January 25, 2019

Will it return to $28 within 12 months? He sold it in 2011 and hasn't returned. MFC never fully recovered from the Great Recession. What is their competitive advantage or moat? He prefer Power Corp among Canadian insurers and dividend payers. He avoid this sector, really.
insurance
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Will it return to $28 within 12 months? He sold it in 2011 and hasn't returned. MFC never fully recovered from the Great Recession. What is their competitive advantage or moat? He prefer Power Corp among Canadian insurers and dividend payers. He avoid this sector, really.
insurance
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$20.860
Owned Owned
No

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DON'T BUY
A T & T US(T-N) 

January 25, 2019

He hasn't studied this in a while. The US telcos don't tempt him. They've acquired a lot of entertainment platforms, then paid them off. Bad balance sheet. He prefers Canadian telcos like Rogers who have de-levered a lot. Don't buy a stock only for its dividend.
Telecommunications
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He hasn't studied this in a while. The US telcos don't tempt him. They've acquired a lot of entertainment platforms, then paid them off. Bad balance sheet. He prefers Canadian telcos like Rogers who have de-levered a lot. Don't buy a stock only for its dividend.
Telecommunications
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$30.660
Owned Owned
No

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COMMENT
Fairfax Financial(FFH-T) 

January 25, 2019

He owns a lot of their debt. But he'd rather invest in Warren Buffet than Prem Watsa. WB is a better buyer/investor overall.
insurance
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He owns a lot of their debt. But he'd rather invest in Warren Buffet than Prem Watsa. WB is a better buyer/investor overall.
insurance
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$621.970
Owned Owned
Unknown

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COMMENT
Amazon is threatending to open convenience stores; but no business is immunse to Amazon. It was dumb of him to pass on ATD when it was cheaper. Smart capital allocators who constantly grow shareholder value. He needs to look into ATD closer.
food stores
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Amazon is threatending to open convenience stores; but no business is immunse to Amazon. It was dumb of him to pass on ATD when it was cheaper. Smart capital allocators who constantly grow shareholder value. He needs to look into ATD closer.
food stores
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$70.280
Owned Owned
No

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PAST TOP PICK
(A Top Pick Feb 06/18, Up 14%) Loves it. They did an investor day in September to outline their future; in the next 10 years, they said that can earn a total of US$40 billion in free cash flow (post-dividends and investments). This is their current market cap. Wow. They plan to double their net-asset value by managing more money and charging higher rents on their properties. Great CEO.
management/diversified
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(A Top Pick Feb 06/18, Up 14%) Loves it. They did an investor day in September to outline their future; in the next 10 years, they said that can earn a total of US$40 billion in free cash flow (post-dividends and investments). This is their current market cap. Wow. They plan to double their net-asset value by managing more money and charging higher rents on their properties. Great CEO.
management/diversified
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$55.630
Owned Owned
Yes

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PAST TOP PICK
Alphabet Inc. (A)(GOOGL-Q) 

January 25, 2019

(A Top Pick Feb 06/18, Up 2%) Boasts 35 quarters in a row of 20% revenue growth. Online ads will continue to grow, and Google dominates search engines. The Cloud will continue to grow. They invest in hardware, software and healthcare. Perfect balance sheet. Has 20x earnings. One of the greatest companies on Earth.
Business Services
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(A Top Pick Feb 06/18, Up 2%) Boasts 35 quarters in a row of 20% revenue growth. Online ads will continue to grow, and Google dominates search engines. The Cloud will continue to grow. They invest in hardware, software and healthcare. Perfect balance sheet. Has 20x earnings. One of the greatest companies on Earth.
Business Services
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$1101.510
Owned Owned
Yes

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PAST TOP PICK
Goldman Sachs(GS-N) 

January 25, 2019

(A Top Pick Feb 06/18, Down 21%) They had stellar numbers in 2018 like 11% revenue growth and bought back 2% of its stock.. But they're by this Malaysian scandal, sued by their government by a huge amount and create a crisis of confidence--buy this will pass. GS recovered a bit in Q4. But he doesn't understand why this is trading at tangible book value. A wonderful franchise.
investment companies/funds
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(A Top Pick Feb 06/18, Down 21%) They had stellar numbers in 2018 like 11% revenue growth and bought back 2% of its stock.. But they're by this Malaysian scandal, sued by their government by a huge amount and create a crisis of confidence--buy this will pass. GS recovered a bit in Q4. But he doesn't understand why this is trading at tangible book value. A wonderful franchise.
investment companies/funds
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$200.740
Owned Owned
Yes

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BUY
TransCanada Corp(TRP-T) 

January 25, 2019

ENB vs. Transcanada Apart from one hiccup (it cut its dividend once in the 90s), Transcanada has performed very well. It's a low-risk business with 95% of its revenues regulated or on long-term contracts. They plan to spend $28 billion on new growth projects and fund it with existing cash flow. They can also grow their dividend 8-10% annually for the next three years. As growth projects come to play, maybe their earning will ramp up again.
oil/gas pipelines
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ENB vs. Transcanada Apart from one hiccup (it cut its dividend once in the 90s), Transcanada has performed very well. It's a low-risk business with 95% of its revenues regulated or on long-term contracts. They plan to spend $28 billion on new growth projects and fund it with existing cash flow. They can also grow their dividend 8-10% annually for the next three years. As growth projects come to play, maybe their earning will ramp up again.
oil/gas pipelines
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$55.330
Owned Owned
Yes

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DON'T BUY
It was a high-flying stock until they ran into management and competition problems. He never got excited by NFI, failing to find their moat and feeling that their balance sheet wasn't that great. That said, he's never done a deep dive into NFI. Not on his radar. He'd need to see serious earnings growth first.
Automotive
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It was a high-flying stock until they ran into management and competition problems. He never got excited by NFI, failing to find their moat and feeling that their balance sheet wasn't that great. That said, he's never done a deep dive into NFI. Not on his radar. He'd need to see serious earnings growth first.
Automotive
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$33.780
Owned Owned
No

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COMMENT
Before their last earnings report, STZ was one of the top S&P names. It's not a barn-burning growth company. He prefers a spirits company, like in Europe. He can't predict what STZ will do in cannabis, which is a big investment for them. If you want to buy weed, buy weed; want to buy alcohol, buy alcohol stocks. He'll do more research into this. Can't say whether to buy or sell this.
breweries/beverages
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Before their last earnings report, STZ was one of the top S&P names. It's not a barn-burning growth company. He prefers a spirits company, like in Europe. He can't predict what STZ will do in cannabis, which is a big investment for them. If you want to buy weed, buy weed; want to buy alcohol, buy alcohol stocks. He'll do more research into this. Can't say whether to buy or sell this.
breweries/beverages
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$166.800
Owned Owned
No

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BUY
FedEx(FDX-N) 

January 25, 2019

5-10-year projection He's nervous like many others about the Amazon threat, but don't wait for the Amazon storm clouds to pass. Put capital to work on a good company long term and ignore the daily volatility. FedEx lowered volatility recently and got hammered--and that was the time to buy. Headlines about Amazon taking over shipping are unfounded, he feels; it won't happen. FedEx is trading at a reasonable valuation. He has no problem owning FedEx now.
Transportation
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5-10-year projection He's nervous like many others about the Amazon threat, but don't wait for the Amazon storm clouds to pass. Put capital to work on a good company long term and ignore the daily volatility. FedEx lowered volatility recently and got hammered--and that was the time to buy. Headlines about Amazon taking over shipping are unfounded, he feels; it won't happen. FedEx is trading at a reasonable valuation. He has no problem owning FedEx now.
Transportation
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$175.360
Owned Owned
Unknown

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