Stock Opinions by Lorne Steinberg - Stockchase Experts
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Lorne Steinberg @

On Stockchase since : Jan 2011

President & Portfolio Manager at Lorne Steinberg Wealth Management Inc

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T: 514-876-9888http://www.steinbergwealth.com

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Stock Opinions by Lorne Steinberg - Stockchase Experts

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COMMENT
General Market Comment 

December 5, 2018

Breaking news: arrest of Huawei's global chief financial officer. Is this bad? No. Appears to relate to breaking sanctions rules. Repercussions tomorrow, if she's violated trade sanctions, are minimal. Only impact is China's reaction. No permanent impact on US or China. Bigger impact might be on Canada, as we try to improve trade with China, we're caught in the middle.
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Breaking news: arrest of Huawei's global chief financial officer. Is this bad? No. Appears to relate to breaking sanctions rules. Repercussions tomorrow, if she's violated trade sanctions, are minimal. Only impact is China's reaction. No permanent impact on US or China. Bigger impact might be on Canada, as we try to improve trade with China, we're caught in the middle.
Unknown
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
Unknown

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BUY
Morgan Stanley(MS-N) 

December 5, 2018

US banks are on sale right now. Has morphed from global investments to largest wealth manager in US, a very stable business. Trading at 9x earnings. Incredibly well capitalized, stock buybacks, and increasing dividend. Going to be a dividend grower over the next few years. At this valuation, comfortable stepping in.
investment companies/funds
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US banks are on sale right now. Has morphed from global investments to largest wealth manager in US, a very stable business. Trading at 9x earnings. Incredibly well capitalized, stock buybacks, and increasing dividend. Going to be a dividend grower over the next few years. At this valuation, comfortable stepping in.
investment companies/funds
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
Yes

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BUY
Goldman Sachs(GS-N) 

December 5, 2018

Issue in Malaysia, which will cost them money. In grand scheme of things, with all their earnings, won't amount to much. Premier global investment bank, good valuation, whole sector is on sale. You need to buy great businesses when they're on sale.
investment companies/funds
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Issue in Malaysia, which will cost them money. In grand scheme of things, with all their earnings, won't amount to much. Premier global investment bank, good valuation, whole sector is on sale. You need to buy great businesses when they're on sale.
investment companies/funds
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
Unknown

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DON'T BUY
Vermilion Energy Inc(VET-T) 

December 5, 2018

Extremely well run, more conservative company. But to own these companies, you have to be bullish on oil. Shale boom has thrown world oil markets upside down. Not overly bullish on the sector, doesn't own any Canadian companies. No energy company's dividend is safe if oil stays at $50. Global price of oil and pipelines are in trouble equally.
oil/gas
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Extremely well run, more conservative company. But to own these companies, you have to be bullish on oil. Shale boom has thrown world oil markets upside down. Not overly bullish on the sector, doesn't own any Canadian companies. No energy company's dividend is safe if oil stays at $50. Global price of oil and pipelines are in trouble equally.
oil/gas
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$32.650
Owned Owned
No

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BUY on WEAKNESS
Microsoft(MSFT-Q) 

December 5, 2018

The most expensive stock in his portfolio. No one's been able to unseat Windows, plus Office is now software as a service. Cloud business drives total revenue growth by 19%. Stock is not cheap, but it's such an amazing, well-run company, and you're getting great growth. Only missing piece is they don't have anything in the mobile sector.
computer software/processing
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The most expensive stock in his portfolio. No one's been able to unseat Windows, plus Office is now software as a service. Cloud business drives total revenue growth by 19%. Stock is not cheap, but it's such an amazing, well-run company, and you're getting great growth. Only missing piece is they don't have anything in the mobile sector.
computer software/processing
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
Yes

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HOLD
Knight Therapeutics(GUD-T) 

December 5, 2018

Wait for it or let it go? About 60% of market cap is sitting in cash. CEO is shrewd. He believes in the genius of this CEO, and he respects those who aren't influenced by the market and have a long-term outlook. (Analysts’ price target is $9.99)
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Wait for it or let it go? About 60% of market cap is sitting in cash. CEO is shrewd. He believes in the genius of this CEO, and he respects those who aren't influenced by the market and have a long-term outlook. (Analysts’ price target is $9.99)
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$8.430
Owned Owned
No

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BUY
Manulife Financial(MFC-T) 

December 5, 2018

No inside information, but regulator has shut down the issue in the court case, to Manulife's benefit. Canadian insurance companies are very cheap. Manulife has great assets in Asia and US. Sees 10% earnings growth in next couple of years. Compelling, will benefit with rising rates.
insurance
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No inside information, but regulator has shut down the issue in the court case, to Manulife's benefit. Canadian insurance companies are very cheap. Manulife has great assets in Asia and US. Sees 10% earnings growth in next couple of years. Compelling, will benefit with rising rates.
insurance
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$21.660
Owned Owned
Yes

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BUY
Largest foreign insurer in India. Great global assets, conservatively managed. Earnings growing at 12-14% for next couple of years. Premier, best run Canadian insurer. Great dividend yield and growing. Compelling investment.
insurance
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Largest foreign insurer in India. Great global assets, conservatively managed. Earnings growing at 12-14% for next couple of years. Premier, best run Canadian insurer. Great dividend yield and growing. Compelling investment.
insurance
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$47.970
Owned Owned
Yes

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BUY
ING Groep NV(ING-N) 

December 5, 2018

ING vs. Lloyd's Likes ING, it's a purely retail bank in Belgium and the Netherlands. Incredibly well capitalized, seem to have no skeletons in the closet. 4-5% dividend yield, low multiple, very low loan losses. Compelling investment, whole sector's been beaten down. Great opportunity. (Analysts’ price target is $14.19)
investment companies/funds
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ING vs. Lloyd's Likes ING, it's a purely retail bank in Belgium and the Netherlands. Incredibly well capitalized, seem to have no skeletons in the closet. 4-5% dividend yield, low multiple, very low loan losses. Compelling investment, whole sector's been beaten down. Great opportunity. (Analysts’ price target is $14.19)
investment companies/funds
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0 comments
Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
Unknown

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DON'T BUY
ING vs. Lloyd's Got into trouble in financial crisis. UK-based bank, and the UK is in for a rough ride with Brexit. He'd avoid it. (Analysts’ price target is $74.21)
Financial Services
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ING vs. Lloyd's Got into trouble in financial crisis. UK-based bank, and the UK is in for a rough ride with Brexit. He'd avoid it. (Analysts’ price target is $74.21)
Financial Services
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
No

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PAST TOP PICK
Arconic Inc(ARNC-N) 

December 5, 2018

(A Top Pick Jan 29/18, Down 30%) Possible private equity bid coming. Has 20% earnings growth. Grenville Tower disaster is weighing on the stock. Likes the stock. Fear of lawsuit fallout. He's concerned that the board will sell it too cheaply.
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(A Top Pick Jan 29/18, Down 30%) Possible private equity bid coming. Has 20% earnings growth. Grenville Tower disaster is weighing on the stock. Likes the stock. Fear of lawsuit fallout. He's concerned that the board will sell it too cheaply.
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
Yes

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PAST TOP PICK
Corning Inc(GLW-N) 

December 5, 2018

(A Top Pick Jan 29/18, Up 2%) Done an amazing job, optical division has great growth. Have a ton of cash, aggressively buying back stock, double-digit dividend increases. Incredibly long term management view, well run, and cheap.
misc industrial products
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(A Top Pick Jan 29/18, Up 2%) Done an amazing job, optical division has great growth. Have a ton of cash, aggressively buying back stock, double-digit dividend increases. Incredibly long term management view, well run, and cheap.
misc industrial products
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0 comments
Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
Yes

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PAST TOP PICK
Yodogawa Steel(5451-TYO) 

December 5, 2018

(A Top Pick Jan 29/18, Down 28%) Reflective of Japan. Cash plus receivables accounts for the entire share price, that's how cheap it is. Getting the entire business, which is profitable and pays a dividend, for free. So many incredible values in Japan. Tariffs have put pressure on, and money has fled to go into US dollar because of rise in interest rates.
steel
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(A Top Pick Jan 29/18, Down 28%) Reflective of Japan. Cash plus receivables accounts for the entire share price, that's how cheap it is. Getting the entire business, which is profitable and pays a dividend, for free. So many incredible values in Japan. Tariffs have put pressure on, and money has fled to go into US dollar because of rise in interest rates.
steel
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0 comments
Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
Yes

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COMMENT
General Market Comment 

December 5, 2018

Interest rate hikes in US being dialed back a bit. Fed has said they'll focus on the data. There have been trade disruptions, but wage inflation is real. This is a good thing for employees. Bias for interest rates remains upwards. Central banks only impact short-term interest rates, but the bigger impact will be on bond yields rising.
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Interest rate hikes in US being dialed back a bit. Fed has said they'll focus on the data. There have been trade disruptions, but wage inflation is real. This is a good thing for employees. Bias for interest rates remains upwards. Central banks only impact short-term interest rates, but the bigger impact will be on bond yields rising.
Unknown
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
Unknown

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WAIT
Toronto Dominion(TD-T) 

December 5, 2018

Probably best run retail bank in Canada, one of top 20 in US. Thinks there may be a better entry point. Great company he'd like to own. Lots of respect for management.
banks
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Probably best run retail bank in Canada, one of top 20 in US. Thinks there may be a better entry point. Great company he'd like to own. Lots of respect for management.
banks
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$72.050
Owned Owned
No

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