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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Stock Opinions by Lorne Steinberg - Stockchase Experts

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COMMENT
General Market Comment 

January 31, 2019

Market Outlook - Amazon.com (AMZN-Q) issued a Q1 guidance a little weak and perhaps that indicates slower consumer spending. Consumer spending in a rising interest environment is a theme going forward. Interest rates are still rising even if the US pauses for a while and the global economy is weakening at the same time. That is going to affect corporate earnings. We are seeing also wage inflation that we haven't seen in a while. On this kind of environment you want to really focus on valuation. The safe sectors are consumer staple and health care in case the economy falters.
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Market Outlook - Amazon.com (AMZN-Q) issued a Q1 guidance a little weak and perhaps that indicates slower consumer spending. Consumer spending in a rising interest environment is a theme going forward. Interest rates are still rising even if the US pauses for a while and the global economy is weakening at the same time. That is going to affect corporate earnings. We are seeing also wage inflation that we haven't seen in a while. On this kind of environment you want to really focus on valuation. The safe sectors are consumer staple and health care in case the economy falters.
Unknown
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
Unknown

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DON'T BUY
Diebold Inc(DBD-N) 

January 31, 2019

The stock has been annihilated in the last couple of years from $30 to the current level. They are a major manufacturer of ATMs and POS systems. They made a major acquisition and took too much debt. Debt is around 90% of their capital structure. Highly speculative. not something he would be interested in.
computer software/processing
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The stock has been annihilated in the last couple of years from $30 to the current level. They are a major manufacturer of ATMs and POS systems. They made a major acquisition and took too much debt. Debt is around 90% of their capital structure. Highly speculative. not something he would be interested in.
computer software/processing
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$4.250
Owned Owned
No

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DON'T BUY
Canada is lagging the US in interest increases. He expect the Bank of Canada to raise over the next couple of years at least 4 more times. In that scenario a regular bond ETF wont perform well. The only are where they see value in FI is in the High yield space.
E.T.F.'s
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Canada is lagging the US in interest increases. He expect the Bank of Canada to raise over the next couple of years at least 4 more times. In that scenario a regular bond ETF wont perform well. The only are where they see value in FI is in the High yield space.
E.T.F.'s
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$30.780
Owned Owned
No

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DON'T BUY
Encana Corp(ECA-T) 

January 31, 2019

Don't see a lot of value in the Canadian Oil and Gas sector. There is some in the integrated companies. He would avoid the sector in general. (Analysts’ price target is $13.39)
oil/gas
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Don't see a lot of value in the Canadian Oil and Gas sector. There is some in the integrated companies. He would avoid the sector in general. (Analysts’ price target is $13.39)
oil/gas
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$9.020
Owned Owned
Unknown

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DON'T BUY
General Electric(GE-N) 

January 31, 2019

Complex company. Their financial services sector nobody understand. Instead of looking at turnaround stories with all sort of complications it is better to focus on companies that are delivering free cash flows and increasing their dividends and trading at attractive valuations.
electrical/electronic
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Complex company. Their financial services sector nobody understand. Instead of looking at turnaround stories with all sort of complications it is better to focus on companies that are delivering free cash flows and increasing their dividends and trading at attractive valuations.
electrical/electronic
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$10.160
Owned Owned
Unknown

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BUY
Alcoa(AA-N) 

January 31, 2019

Only metal stock they hold. He is bullish on aluminium prices as there is demand from the automotive sector. The best in the business. A volatile stock. OK to own if you have a relatively long term horizon (5 years +).
non-base metal mining
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Only metal stock they hold. He is bullish on aluminium prices as there is demand from the automotive sector. The best in the business. A volatile stock. OK to own if you have a relatively long term horizon (5 years +).
non-base metal mining
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$29.680
Owned Owned
Yes

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DON'T BUY
Prudential PLC(PUK-N) 

January 31, 2019

Would there be an opportunity to buy taking advantage of the weakness on the British Pound in case there is a hard Brexit? The financial services industry in the UK has taken a pounding but still thinks there are better places to be. He wouldn't comment on Brexit (even though he think there won't be one) and he wouldn't allowed currencies to influence his investment decisions.
Financial Services
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Would there be an opportunity to buy taking advantage of the weakness on the British Pound in case there is a hard Brexit? The financial services industry in the UK has taken a pounding but still thinks there are better places to be. He wouldn't comment on Brexit (even though he think there won't be one) and he wouldn't allowed currencies to influence his investment decisions.
Financial Services
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$39.440
Owned Owned
No

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DON'T BUY
Sony Corp. ADR(SNE-N) 

January 31, 2019

This is not only a technology company. Much of its earnings are coming from games and movies. Both those areas are very difficult to predict. He sees better value elsewhere.
electrical/electronic
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This is not only a technology company. Much of its earnings are coming from games and movies. Both those areas are very difficult to predict. He sees better value elsewhere.
electrical/electronic
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$50.120
Owned Owned
No

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DON'T BUY
Banco Santander SA(SAN-N) 

January 31, 2019

European banks have been hit hard. He sees better value in ING Groep NV. Cheaper and better.
banks
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European banks have been hit hard. He sees better value in ING Groep NV. Cheaper and better.
banks
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$4.740
Owned Owned
Unknown

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COMMENT
Barclays Bank PLC(BCS-N) 

January 31, 2019

Trading for half its tangible book value reflecting the European banking sector. He prefers Goldman Sachs (GS-N) on the investment bank side.
banks
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Trading for half its tangible book value reflecting the European banking sector. He prefers Goldman Sachs (GS-N) on the investment bank side.
banks
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$8.360
Owned Owned
No

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PAST TOP PICK
Arconic Inc(ARNC-N) 

January 31, 2019

(A Top Pick Jan 30/18, Down 36%) It got caught up on an incident in the UK where an apartment building got on fire. They were using the company's product (that were totally legal). Earnings have not been great.
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(A Top Pick Jan 30/18, Down 36%) It got caught up on an incident in the UK where an apartment building got on fire. They were using the company's product (that were totally legal). Earnings have not been great.
0
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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$18.820
Owned Owned
Unknown

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PAST TOP PICK
Corning Inc(GLW-N) 

January 31, 2019

(A Top Pick Jan 30/18, Up 6%) The company makes gorilla glass that is used on iPhones and also TV sets and they are a global leader. They have bought back almoe=st 50% of their shares in the last 5 years. Double digit dividend increases. He really likes it.
misc industrial products
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(A Top Pick Jan 30/18, Up 6%) The company makes gorilla glass that is used on iPhones and also TV sets and they are a global leader. They have bought back almoe=st 50% of their shares in the last 5 years. Double digit dividend increases. He really likes it.
misc industrial products
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0 comments
Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$33.260
Owned Owned
Yes

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PAST TOP PICK
Yodogawa Steel(5451-TYO) 

January 31, 2019

(A Top Pick Jan 30/18, Down 33%) Representative of the Japanese market. Trading for less than its working capital. This is the reason many of the buyout companies are raising tens of billions of dollars to buy Japanese companies. He think that would be a catalyst for a company like this.
steel
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(A Top Pick Jan 30/18, Down 33%) Representative of the Japanese market. Trading for less than its working capital. This is the reason many of the buyout companies are raising tens of billions of dollars to buy Japanese companies. He think that would be a catalyst for a company like this.
steel
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0 comments
Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$0.000
Owned Owned
Yes

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DON'T BUY
AT&T(T-N) 

January 31, 2019

Looks a little bit like a value trap. A competitive business. Subscriber growth is flattening out. The company keeps on adding debt every year. There is not a lot of dividend coverage. Not a fan of the sector. (Analysts’ price target is $34.35)
Telecommunications
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Looks a little bit like a value trap. A competitive business. Subscriber growth is flattening out. The company keeps on adding debt every year. There is not a lot of dividend coverage. Not a fan of the sector. (Analysts’ price target is $34.35)
Telecommunications
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0 comments
Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$30.060
Owned Owned
Unknown

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DON'T BUY
Amazon.com(AMZN-Q) 

January 31, 2019

He thinks it is the best of the FAANG stocks. But a difficult one to value. He would never want to bet against them as they are eating the world. But having said that they can not keep on growing in the way yet have or they would own the entire retail world.
specialty stores
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He thinks it is the best of the FAANG stocks. But a difficult one to value. He would never want to bet against them as they are eating the world. But having said that they can not keep on growing in the way yet have or they would own the entire retail world.
specialty stores
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0 comments
Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$1718.730
Owned Owned
No

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