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Lorne Steinberg
President & Portfolio Manager at Lorne Steinberg Wealth Management Inc
Member since: Jan '11 · 1780 Opinions
Rating Card
| All | 
Rating
| 
Big Win
| 
Win
| 
Neutral
| 
Loss
| 
Big Loss
|  |
|---|---|---|---|---|---|---|---|
| 4.15 | 158 29.42% | 116 21.60% | 68 12.66% | 118 21.97% | 77 14.34% | ||
| 1 Month | 4.3 | 16 12.40% | 43 33.33% | 37 28.68% | 32 24.81% | 1 0.78% | |
| 6 Months | 4.08 | 31 24.22% | 30 23.44% | 16 12.50% | 35 27.34% | 16 12.50% | |
| 12 Months | 4.08 | 40 33.33% | 20 16.67% | 8 6.67% | 27 22.50% | 25 20.83% | |
| 2 Years | 4.37 | 49 45.37% | 13 12.04% | 6 5.56% | 17 15.74% | 23 21.30% | |
| 5 Years | 3.92 | 22 42.31% | 10 19.23% | 1 1.92% | 7 13.46% | 12 23.08% |
Stock Opinions by Lorne Steinberg
Regarding the results of the U.S. election there should be less regulation which is pumping up financial service stocks as well as others. The fed rate cuts have engineered what looks like a perfect soft landing and this has been good for equity markets. Some of this has already been priced in with these surging markets. One of the market risks is that the stimulus package of the world's second largest economy, China, is not having a big impact. Earnings reports for big international companies have been affected by the weakness in China. However he thinks China's economy will get rolling again because China will keep on providing more stimulus measures.
There has been a move away from large cap tech, the magnificent 7 for the most part, and the market spreading out to undervalued companies.
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It is better now than before but it has lots of debt and negative free cash flow. It has survived over time but has always been somewhat levered and has performed poorly for a long time. Due to the low price it could be time to buy now but you have to be able to handle risk.
It is a pharma company trading at 5X earnings. It is buying back stock, as much as 5% and has a slew of new products.
The question was on his preference of this group of wealth management companies. He owns all three for different reasons. The possible lack of regulation under the new administration has already boosted them. They are in excellent financial shape and have good dividend growth. It is not an expensive sector.
The question was on his preference of this group of wealth management companies. He owns all three for different reasons. The possible lack of regulation under the new administration has already boosted them. They are in excellent financial shape and have good dividend growth. It is not an expensive sector.
The question was on his preference of this group of wealth management companies. He owns all three for different reasons. The possible lack of regulation under the new administration has already boosted them. They are in excellent financial shape and have good dividend growth. It is not an expensive sector.
The question was on his favourite property casualty insurer. He likes Allstate which has reduced its share count by 70% in the last 20 years.
Its Capex is exceeding its cash flow but there is no net debt and the dividend is secure. In general the cost of producing an ounce of gold is way up over the last 20 years. The strong U.S. dollar has put downward pressure on gold.
There are potential substantial tariffs on China under the new administration but he is not convinced they will carry through with them. Tariffs on China would not be good for Tesla because China would retaliate and a lot of Tesla's products are made there. Also every major car company has a slew of EV's so Tesla should trade closer to these companies, which are not great investments in themselves.
Ozempic is their major product and it has been on a wild ride. He is not a buyer of a company where the share price is inflated over one drug. Pipelines cannot be evaluated.
It makes equipment that is used by semi-conductor manufacturers. It is more cyclical than the semi-conductor sector, which outside of AI shifts is already facing a flat to downward cycle.
The question was on what stocks to buy and hold for an initial investment of $10 000 for a 23 year old. He would invest in a Canadian fund which would be diversified in a number of high quality businesses - don't try to buy three stocks. You can balance things out over time. Do not hedge with a U.S. index or U.S. stocks. An example given was ZSP which is not hedged and trades in Canada.
At the present price its dividend yield is 10% and looks secure.The recent acquisition disappointed investors, including him, who were hoping for debt pay-down. He is hoping that the Board knows what they are doing.
House insurance always goes up and it is the best in its field with little competition. Trades at 11X earnings.
He is expecting some relief on the regulatory side with less competition. It has a solid dividend yield and lots of cash flow. The stock looks cheap but the earnings are flat-lining.
