Lorne Steinberg
President & Portfolio Manager at Lorne Steinberg Wealth Management Inc
Member since: Jan '11 · 1912 Opinions
Rating Card
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Rating
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Win
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Big Loss
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| 4.25 | 170 29.77% | 124 21.72% | 69 12.08% | 130 22.77% | 78 13.66% | ||
| 1 Month | 4.32 | 15 10.87% | 46 33.33% | 37 26.81% | 39 28.26% | 1 0.72% | |
| 6 Months | 4.1 | 32 24.06% | 31 23.31% | 16 12.03% | 35 26.32% | 19 14.29% | |
| 12 Months | 4.38 | 42 33.87% | 23 18.55% | 8 6.45% | 27 21.77% | 24 19.35% | |
| 2 Years | 4.39 | 49 43.75% | 14 12.50% | 7 6.25% | 20 17.86% | 22 19.64% | |
| 5 Years | 4.06 | 32 50.00% | 10 15.63% | 1 1.56% | 9 14.06% | 12 18.75% |
Stock Opinions by Lorne Steinberg
The Canadian market remains cheap compared to the US, and still offers excellent profit growth. Gold stocks have helped, but oil is weak. There's value in financials, railways and Loblaws and Dollarama. Diversified in Canada. The effect of tariffs haven't fully hit yet; consumers haven't felt it yet. US job growth and wage growth have been reasonable. Not yet, but for sure there will be an impact. Tariff policy in the US has been a yo-yo, but if there's too much of an impact on US consumers, he fully expects some tariff relief as we approach the US midterms 1 months from now. We can't invest based on what we think will happen with tariffs down the road, but rather look at the long-term value of companies. Things can change quickly. Corporate earnings have been strong and he expects this to continue. Also, we're seeing big capex from megetach on AI. Comapnies are re-shoring to the US. Tariffs have been a wake-up call to Canada, the EU, etc, and are now encouraging companies to invest domestically to improve productivity.
Their main drivers are Sony Playstation, Sony Music, and films. The Playstation has its ups and downs from competition. Music is well behind the #1 player. Films are also unpredictable. Sony should spin off its music publishing business and focus on the other two areas. Not a cheap stock. Earnings vary.
It's time to step back into telcos. Dividends are sustainable. He owns all 3 Canadian telcos. Share prices have bottomed, and he expects margin improvement. Costs have been slashed. Is partially optimistic, because shares have been so beaten down, and yet the industry isn't going anywhere. There will be some growth going forward. Is bullish on telcos. BCE's strategy in the US (buying a US company) will generate reasonable value. Telus is the faster grower and has made good moves outside telecoms to create value. Rogers is more of a question mark, including their sports holding, but is worth a ton of money (the value of sports teams is huge).
It's time to step back into telcos. Dividends are sustainable. He owns all 3 Canadian telcos. Share prices have bottomed, and he expects margin improvement. Costs have been slashed. Is partially optimistic, because shares have been so beaten down, and yet the industry isn't going anywhere. There will be some growth going forward. Is bullish on telcos. BCE's strategy in the US (buying a US company) will generate reasonable value. Telus is the faster grower and has made good moves outside telecoms to create value. Rogers is more of a question mark, including their sports holding, but is worth a ton of money (the value of sports teams is huge).
It's time to step back into telcos. Dividends are sustainable. He owns all 3 Canadian telcos. Share prices have bottomed, and he expects margin improvement. Costs have been slashed. Is partially optimistic, because shares have been so beaten down, and yet the industry isn't going anywhere. There will be some growth going forward. Is bullish on telcos. BCE's strategy in the US (buying a US company) will generate reasonable value. Telus is the faster grower and has made good moves outside telecoms to create value. Rogers is more of a question mark, including their sports holding, but is worth a ton of money (the value of sports teams is huge).
Extremely well-run and conservative. It has outperformed the S&P for decades. Is very bullish RY and Canadian banks. There's ongoing dividend and earnings growth. Is overcapitalized with lots of runway to deliver 8-10% earnings growth over time and therefore 10% annualized return for the next 5 years.
Streaming turned profitable by end of 2024, finally, after a reorganization, and is now a major growth driver. Theme parks have been the largest profit generator and they keep coming out with new parks; people are paying high amounts to enjoy them. He expects healthy earnings to come. They will announce a deal between their ESPN and the NFL--sports drives huge profits. Everything is going right, but they need to appoint a successor to Bob Iger.
Historically, is a good allocator of capital (dividends, buybacks), but lacks growth. They partly returned to growth on the $30 billion purchase of Splunk to drive their cybersecurity business. In turn, this drives earnings and margins. Are a free cash flow machine.
They had disappointing earnings, because China has been weak and now have excess inventory. Nothing is going well, except they continue to generate free cash flow and buy back a whack of shares. When they get rid of that excess, the company should be well-positioned.
