Lorne Steinberg
President & Portfolio Manager at Lorne Steinberg Wealth Management Inc
Member since: Jan '11 · 1888 Opinions
Rating Card
| All | 
Rating
| 
Big Win
| 
Win
| 
Neutral
| 
Loss
| 
Big Loss
|  |
|---|---|---|---|---|---|---|---|
| 4.24 | 169 29.91% | 122 21.59% | 67 11.86% | 130 23.01% | 77 13.63% | ||
| 1 Month | 4.33 | 16 11.51% | 46 33.09% | 37 26.62% | 39 28.06% | 1 0.72% | |
| 6 Months | 4.09 | 32 24.43% | 30 22.90% | 15 11.45% | 35 26.72% | 19 14.50% | |
| 12 Months | 4.38 | 42 34.15% | 22 17.89% | 8 6.50% | 27 21.95% | 24 19.51% | |
| 2 Years | 4.4 | 50 45.05% | 14 12.61% | 6 5.41% | 20 18.02% | 21 18.92% | |
| 5 Years | 4.02 | 29 47.54% | 10 16.39% | 1 1.64% | 9 14.75% | 12 19.67% |
Stock Opinions by Lorne Steinberg
There's always something a bit unique, as no two situations are exactly the same. The last time we went through a shocker was during Covid in March 2020, and the market fell over 30%. The message he sent to clients then was whenever you look back at times like these, you always say that you should've bought great companies when they were on sale. That's eternally the message.
Warren Buffett says buy when there's blood in the streets. If you buy great quality (and this is the moment to buy great quality because it's cheap again), you'll be well served when you look back at your portfolio 5 years from now.
An "all or none" approach is probably the wrong thing to do, as it just leads to paralysis. If someone had, say, $50k to invest, just be disciplined and put in $10k (or whatever's comfortable) a month and start buying today. If you wait until calm returns and things improve, you'll have missed the first 25% move.
Buy the world's best companies. Anything from Canadian bank stocks to any of the great technology companies. They've all been hammered, and this is your opportunity. Dividend yields are higher because you're paying less for these stocks. Great management teams will figure out how to navigate these situations.
It's always a mistake to sell when the world is panicking. Don't forget Warren Buffett's advice to buy when people are panicked and sell when everything looks rosy. These quality companies were great 10 years ago, and they'll be great 10 years from now. If you can buy them on sale, why wouldn't you? Investors should be loving these times.
FFH is in his Canadian dividend strategy. BRK.B is in his global strategy.
Both are insurance-driven companies that are partly holding companies. Diversified businesses. Breakup NAV (not that they'd ever be broken up) is significantly higher than current share price. And that makes both of these a buy. Both are in the lower-risk category of companies.
FFH is in his Canadian dividend strategy. BRK.B is in his global strategy.
Both are insurance-driven companies that are partly holding companies. Diversified businesses. Breakup NAV (not that they'd ever be broken up) is significantly higher than current share price. And that makes both of these a buy. Both are in the lower-risk category of companies.
Shortage of housing in Canada. But in Toronto, for example, so many condos are coming on that prices are softening and even rents are softening. The only REIT he owns is CAR.UN.
Office buildings are going through an evolution, and we don't know how it's going to end. Not cheap enough to make a bet on the office space. Malls are certainly going through a worse evolution, being replaced with condos and apartments. The steady area has always been apartments.
