Opinions by Barry Schwartz | StockChase
1803
Barry Schwartz

CIO & Portfolio Manager

ON STOCKCHASE SINCE Sep 2009

Baskin Wealth Management


Opinions by Barry Schwartz


Signal Opinion Expert Chart

2017-10-16

N/A
A Comment -- General Comments From an Expert 

Market.TSX is finally waking from its slumber. Markets can move quickly. The TSX is up about 4% to date, which is not terrible, and if you add dividends, you get 6%, which is livable. Of course, in context with what is going on in other markets, we feel we are left behind. The Cdn$ going up hurts your returns if you have gone outside of Canada to try and get excess returns. September was a pretty good month for his clients, and October so far so good. Feels banks are attractive on valuation, and they don’t get a lot of credit for consistency of earnings they have delivered. Historically, they have returned double digit compound returns.

Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $0.020
Owned: _N/A

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2017-10-16

TOP PICK
Apple (AAPL-Q)

Attractively priced. Whether it comes out in November, December or whenever, they are going to sell a lot of iPhone 10s. Some analysts say they could sell as high as 270 million phones, which would be 20% more than their biggest phone sale. Has a ton of cash and are going to be a big beneficiary of tax repatriation, if that happens, with tax reform. At some point, he expects they will start putting that cash to work with either a massive buyback or massive dividend increase, etc. Dividend yield of 1.6%. (Analysts’ price target is $180.)

electrical/electronic
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $159.880
Owned: Yes

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2017-10-16

TOP PICK
Acadian Timber Corp (ADN-T)

This gives you equity-like returns on assets like timber, that grows every single year. There are going to be big benefits from them if the US housing market continues to recover. When he does the math on their acreage and what the stock is trading at, it is undervalued by at least 20%. In the meantime, you have excellent returns. They have grown the dividend twice already in the past few years. On pullbacks this is one to own. Dividend yield of 5.8%. (Analysts’ price target is $19.)

east coast forestry
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $19.120
Owned: Yes

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2017-10-16

COMMENT
Becton Dickinson (BDX-N)

Recently started buying this. For lack of a better way to describe it, this is like a full complete service provider for medical supplies to hospitals and clinics. They sell consumables such as syringes and catheters, and are trying to get more into drug delivery and software. Acquiring Bard C R (BCR-N). A great company and a good business to be in.

biotechnology/pharmaceutical
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $200.820
Owned: Yes

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2017-10-16

COMMENT
Brookfield Infrastucture Partners (BIP.UN-T)

Since this went public it has had something like a 20% compound total return. The whole Brookfield group is such a great well-run business. What they’ve been able to do, which no one else has been able to do, is to have a long-term plan and strike when the iron is hot and acquire distressed assets. Recently did a big equity deal, and assumes they have a lot of deals they are working on. Dividend yield of 4.3%.

INDUSTRIAL PRODUCTS
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $54.560
Owned: Yes

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2017-10-16

BUY on WEAKNESS
Berkshire Hathaway Inc. (B) (BRK.B-N)

There hasn’t been any meaningful pullbacks on the chart, so not many buying opportunities on many of the US stocks. This stock has been unstoppable. It has one of the greatest collection of assets in the US. If you believe the US is going to continue to be a powerhouse and a grower in their economy, this is one of the best ways to play it. On any pullback, he would be in there.

insurance
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $187.960
Owned: Yes

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2017-10-16

COMMENT
Cineplex Inc (CGX-T)

It’s been nasty being a shareholder this year. It had a disastrous summer. There weren’t any good movies. Box office returns were down anywhere from 10% to 15%, which is going to hurt their bottom line. It looks like it will end the year down 1%-2% on the box office. The 2018 slate looks promising. They’ve done a great job in raising ticket prices, raising prices on food, and are light years ahead of the US competition, because they’ve expanded into other areas. Thinks they are going to be very successful. Will benefit from Sears and Target closing up shops, as they will be able to negotiate pretty good leases and acquire big sites to launch their entertainment centres. Even at $38, it is not a cheap stock, however it has a great business model. As the movies pick up, it can go a lot higher. 4.3% dividend yield.

other services
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $38.320
Owned: Unknown

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2017-10-16

COMMENT
Walt Disney (DIS-N)

Had to kind of talk down earnings due to hurricanes, and close up their theme parks for a couple of days. This year has been tough because there hasn’t been a good movie slate. Q4 numbers are going to come out soon, and there were no new releases in Q4. These issues are well known. ESPN is now about 20% of their operations. The company has one of the best assets in the world in their theme park operations, which probably represents about 40% of their business. They have pricing power and attendance is growing and there is launching of more and more additions to the theme parks.

entertainment services
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $98.130
Owned: Unknown

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2017-10-16

COMMENT
Enbridge (ENB-T)

The utility space is a wonderful space in your portfolio. This one has guided for double digit dividend growth going forward. For income, you can’t beat this area. In a diversified portfolio, especially in Canada, you have to own 1 or 2 of these. One thing that worries him is that this is more focused on oil. He would prefer a more regulated utility such as Canadian Utilities (CU-T) or Fortis (FTS-T).

oil/gas pipelines
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $52.010
Owned: No

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2017-10-16

TOP PICK
Facebook (FB-Q)

The world’s best advertising medium. If you look at the product online, they follow you around. They know what you like, who your friends are, what you are wearing. There are even some rumours they can listen in on your phone when you are talking. They and Google (GOOGL-Q) capture only a small amount of the world advertising market, so there is a long runway of growth. (Analysts’ price target is $200.)

Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $174.520
Owned: Yes

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2017-10-16

BUY
Fortis Inc. (FTS-T)

Has had 44 years in a row of dividend growth. Just announced a 6.25% increase, $1.70 a share. Our world is going to need electricity 44 years from now and this company has a wonderful installed base. 3.7% dividend yield.

electrical utilities
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $46.140
Owned: Yes

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2017-10-16

COMMENT
High Liner Foods (HLF-T)

The chart has been ugly. In the last 2 quarters, they’ve been hurt by plant inefficiencies and a recall on a number of products. The good news is that the past president is back. He grew the company when it was a $100 million sales company to a billion-dollar sales company. If they get some of those issues right, you could see a meaningful upside in the company. Valuation is very cheap. There are rumours the company is interested in getting into canned fish as well, which would be a natural fit. Has a wonderful distribution network and a wonderful group of clients.

Consumer Products
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $14.190
Owned: Yes

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2017-10-16

BUY
Intertape Polymer Group (ITP-T)

Trading at $25 a few months ago and dropped down to the $19 range. He is hoping it can go back up to $25 and much higher. They warned last quarter that this was going to be a tougher year. Juggling a lot of projects and a lot of them are not delivering cash flows. They buy a lot of plastic and chemicals, and with the hurricanes in Texas and Florida, it has pushed up some input prices. They won’t be able to pass that off to customers in the short term. Expects an ugly Q3, but hopefully there will be some good communication and messaging that things are improving. For long-term investors, this is a good opportunity.

packaging/containers
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $18.980
Owned: Yes

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2017-10-16

COMMENT
Korn/Ferry International (KFY-N)

In 2016, the stock dropped to $19. He thought the market had mispriced the stock. At the time, they had a huge amount of cash on the balance sheet. They used it to acquire Hay Group and diversify their business into pension benefits. Still thinks this has a lot of wind in its sales. Valuation is still quite cheap. He is very excited about this company and its future.

mngmnt/diversified
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $40.100
Owned: Unknown

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2017-10-16

BUY
KP Tissue Inc (KPT-T)

As a hold for the next 5 years?On a total return basis, this is not as terrible as the stock price suggests. It has underperformed. There has always been something that pops up to hurt them over the past few years. It looks like pulp prices continue to go higher, so he doesn’t expect the best quarter in Q3. However, they have pricing power because their branded tissue toilet paper has been able to pass those price increases on to customers. He likes this for the 4.7% dividend. They have ambitious growth plans.

Consumer Products
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $15.090
Owned: Yes

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