Teal Linde
Member since: Feb '14
Portfolio Manager & Publisher, Linde Equity Report at
Linde Equity Report
Linde Equity Report
600 Opinions
Latest Top Picks
The big five banks have had their weakest year in terms of earnings since 2016. It is weakening of the credit environment, net contraction of interest margins, especially in the US. The capital markets business has been weak for the banks also. RY-T has an opportunity to come back, if banks do, in a greater way than the others. (Analysts’ price target is $111.31)
Their earnings are growing at 17-18% and the stock price goes up the same amount, there is no bubble or inflation occurring there. (Analysts’ price target is $1453.53)
It is growing faster than GOOG-Q and the stock is trading at a valuation lower. They are growing three times faster than the S&P 500 but you are only paying a 20% premium. (Analysts’ price target is $234.21)
(A Top Pick Mar 11/19, Down 4%) Auto sales for new cars are slightly down and this hurt the sentiment for the whole segment. He probably recommended it a little too early. Despite the difficult environment, sales were up and they took market share. 6.5 times earnings. It is quite inexpensive to own. There is talk that America 'peaked-out' in autos in 2016. The two car family is becoming less popular.
(A Top Pick Mar 11/19, Up 39%) You have 20% growth on top and bottom lines next year and it is trading at 7.5 times earnings. He continues to like it.
Signal
Opinion
Expert
Chart
N/A
N/A
December 16, 2019
Market. Central bankers have gotten used to just throwing money at the problem and we forget how unusual this is. It used to be in the US that the economy was used to improve financial assets and now it is financial assets that are being used to improve the economy. Share prices are now rising faster than earnings and revenues. You are seeing valuation inflation. The US FED is planning on buying half a billion dollars in bonds by mid-January to put them into record territory.
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Market. Central bankers have gotten used to just throwing money at the problem and we forget how unusual this is. It used to be in the US that the economy was used to improve financial assets and now it is financial assets that are being used to improve the economy. Share prices are now rising faster than earnings and revenues. You are seeing valuation inflation. The US FED is planning on buying half a billion dollars in bonds by mid-January to put them into record territory.
TOP PICK
TOP PICK
December 16, 2019
The big five banks have had their weakest year in terms of earnings since 2016. It is weakening of the credit environment, net contraction of interest margins, especially in the US. The capital markets business has been weak for the banks also. RY-T has an opportunity to come back, if banks do, in a greater way than the others. (Analysts’ price target is $111.31)
Show full opinionHide full opinionThe big five banks have had their weakest year in terms of earnings since 2016. It is weakening of the credit environment, net contraction of interest margins, especially in the US. The capital markets business has been weak for the banks also. RY-T has an opportunity to come back, if banks do, in a greater way than the others. (Analysts’ price target is $111.31)
banks
TOP PICK
TOP PICK
December 16, 2019
Their earnings are growing at 17-18% and the stock price goes up the same amount, there is no bubble or inflation occurring there. (Analysts’ price target is $1453.53)
Show full opinionHide full opinionTheir earnings are growing at 17-18% and the stock price goes up the same amount, there is no bubble or inflation occurring there. (Analysts’ price target is $1453.53)
Business Services
TOP PICK
TOP PICK
December 16, 2019
It is growing faster than GOOG-Q and the stock is trading at a valuation lower. They are growing three times faster than the S&P 500 but you are only paying a 20% premium. (Analysts’ price target is $234.21)
It is growing faster than GOOG-Q and the stock is trading at a valuation lower. They are growing three times faster than the S&P 500 but you are only paying a 20% premium. (Analysts’ price target is $234.21)
BUY WEAKNESS
BUY WEAKNESS
December 16, 2019
He would prefer it over L-T and EMP-T. It has been the better performer over the last 10 years. Their long term strategy has been to buy back 3-5% of their stock, pay a 2% dividend, and increase their net income 5-10% per year making about a 10-17% return. As a grocery stock it has never become quite compelling enough but in hindsight it would have been a good investment. Once they get too large they just have less growth opportunities. This one is more nimble. It's valuation is on the higher end of the range so wait for a pull back.
He would prefer it over L-T and EMP-T. It has been the better performer over the last 10 years. Their long term strategy has been to buy back 3-5% of their stock, pay a 2% dividend, and increase their net income 5-10% per year making about a 10-17% return. As a grocery stock it has never become quite compelling enough but in hindsight it would have been a good investment. Once they get too large they just have less growth opportunities. This one is more nimble. It's valuation is on the higher end of the range so wait for a pull back.
food stores
WAIT
WAIT
December 16, 2019
He would not be a buyer today because there is a pending transition to electric buses. Municipalities are holding back until they become more main-stream. Wait one to two years to see larger orders.
Show full opinionHide full opinionHe would not be a buyer today because there is a pending transition to electric buses. Municipalities are holding back until they become more main-stream. Wait one to two years to see larger orders.
Automotive
DON'T BUY
DON'T BUY
December 16, 2019
He would not buy any E&P companies right now. You need a rally in the commodity price to get people excited. Companies are just paying down debt and buying back stock, but that won't get any attention. Look elsewhere.
Show full opinionHide full opinionHe would not buy any E&P companies right now. You need a rally in the commodity price to get people excited. Companies are just paying down debt and buying back stock, but that won't get any attention. Look elsewhere.
oil/gas
HOLD
HOLD
December 16, 2019
They are focusing investment down in Florida with solar energy. The dividend could continue to increase. It is good to have some utility exposure and he would consider this to be a hold.
Show full opinionHide full opinionThey are focusing investment down in Florida with solar energy. The dividend could continue to increase. It is good to have some utility exposure and he would consider this to be a hold.
mngmnt/diversified
BUY
BUY
December 16, 2019
They recently announced they are raising the dividend 10% and expanding their existing pipelines. They are expanding so they export their oil at US ports. They are going to do a joint venture in Texas out to a deep sea port to be able to export oil ocean tankers.
Show full opinionHide full opinionThey recently announced they are raising the dividend 10% and expanding their existing pipelines. They are expanding so they export their oil at US ports. They are going to do a joint venture in Texas out to a deep sea port to be able to export oil ocean tankers.
oil/gas pipelines
SELL
SELL
December 16, 2019
He used to own it. He had assumed earnings per share would continue to grow double digits. They were eventually not able to grow at a double digit rate and has been in a struggle since then. When it merged with other companies it has become difficult to forecast where the company is going to go.
Show full opinionHide full opinionHe used to own it. He had assumed earnings per share would continue to grow double digits. They were eventually not able to grow at a double digit rate and has been in a struggle since then. When it merged with other companies it has become difficult to forecast where the company is going to go.
specialty stores
HOLD
HOLD
December 16, 2019
He has always thought this one of the companies where you would hide as companies that would hold up in a downturn. They have done much better than mid-tiers. You can preserve money but not make much. It is a testament to the management of the company. It is best of breed.
Show full opinionHide full opinionHe has always thought this one of the companies where you would hide as companies that would hold up in a downturn. They have done much better than mid-tiers. You can preserve money but not make much. It is a testament to the management of the company. It is best of breed.
oil/gas
PARTIAL BUY
PARTIAL BUY
December 16, 2019
It really started moving in 2015 as a number of investments they had made started to pay off. In the last couple of years they have made large investment that they expect to pay off from here and going forward. He would consider it to take an initial position or buy on a pull back.
Show full opinionHide full opinionIt really started moving in 2015 as a number of investments they had made started to pay off. In the last couple of years they have made large investment that they expect to pay off from here and going forward. He would consider it to take an initial position or buy on a pull back.
food processing
PAST TOP PICK
PAST TOP PICK
December 16, 2019
(A Top Pick Mar 11/19, Down 4%) Auto sales for new cars are slightly down and this hurt the sentiment for the whole segment. He probably recommended it a little too early. Despite the difficult environment, sales were up and they took market share. 6.5 times earnings. It is quite inexpensive to own. There is talk that America 'peaked-out' in autos in 2016. The two car family is becoming less popular.
Show full opinionHide full opinion(A Top Pick Mar 11/19, Down 4%) Auto sales for new cars are slightly down and this hurt the sentiment for the whole segment. He probably recommended it a little too early. Despite the difficult environment, sales were up and they took market share. 6.5 times earnings. It is quite inexpensive to own. There is talk that America 'peaked-out' in autos in 2016. The two car family is becoming less popular.
transportation equip & components
PAST TOP PICK
PAST TOP PICK
December 16, 2019
(A Top Pick Mar 11/19, Up 39%) You have 20% growth on top and bottom lines next year and it is trading at 7.5 times earnings. He continues to like it.
Show full opinionHide full opinion(A Top Pick Mar 11/19, Up 39%) You have 20% growth on top and bottom lines next year and it is trading at 7.5 times earnings. He continues to like it.
Financial Services
PAST TOP PICK
PAST TOP PICK
December 16, 2019
(A Top Pick Mar 11/19, Down 25%) It is still a little early. Their balance sheet is quite pristine. A slight improvement in sentiment in the sector can cause the share price to jump up.
Show full opinionHide full opinion(A Top Pick Mar 11/19, Down 25%) It is still a little early. Their balance sheet is quite pristine. A slight improvement in sentiment in the sector can cause the share price to jump up.
oil/gas field services
BUY
BUY
December 16, 2019
He bought it a couple of years ago in anticipation of the plant they are building. It should add 35% to the value of the company and so he would consider it a buy.
Show full opinionHide full opinionHe bought it a couple of years ago in anticipation of the plant they are building. It should add 35% to the value of the company and so he would consider it a buy.
oil pipelines
DON'T BUY
DON'T BUY
December 16, 2019
They stood out from their peers as the one to increase their expenses. This is difficult because of the headwinds in the sector. It has the weakest earnings profile going forward. He would prefer another bank. See his Top Picks for today.
Show full opinionHide full opinionThey stood out from their peers as the one to increase their expenses. This is difficult because of the headwinds in the sector. It has the weakest earnings profile going forward. He would prefer another bank. See his Top Picks for today.
banks
HOLD
HOLD
December 16, 2019
He bought it on Christmas Eve last year when it hit its low for that period. He recommends still continuing to hold it. It is not hitting new highs because they are ramping up expenses to work on their one-day-delivery. It is believed when they get there they will make up the decline.
Show full opinionHide full opinionHe bought it on Christmas Eve last year when it hit its low for that period. He recommends still continuing to hold it. It is not hitting new highs because they are ramping up expenses to work on their one-day-delivery. It is believed when they get there they will make up the decline.
specialty stores
BUY
BUY
December 16, 2019
BCE-T vs. RCI.B-T. BCE-T is considered the steadiest and safest of the three. It has run up quite a bit in the last year as a flight to safety. RCI.B-T has come off a bit after offering their unlimited data plan which was a bigger success than they anticipated. He would buy RCI.B-T. A year from now they won't have any issues with unlimited data.
BCE-T vs. RCI.B-T. BCE-T is considered the steadiest and safest of the three. It has run up quite a bit in the last year as a flight to safety. RCI.B-T has come off a bit after offering their unlimited data plan which was a bigger success than they anticipated. He would buy RCI.B-T. A year from now they won't have any issues with unlimited data.
telephone utilities
BUY
BUY
December 16, 2019
BCE-T vs. RCI.B-T. BCE-T is considered the steadiest and safest of the three. It has run up quite a bit in the last year as a flight to safety. RCI.B-T has come off a bit after offering their unlimited data plan which was a bigger success than they anticipated. He would buy RCI.B-T. A year from now they won't have any issues with unlimited data.
BCE-T vs. RCI.B-T. BCE-T is considered the steadiest and safest of the three. It has run up quite a bit in the last year as a flight to safety. RCI.B-T has come off a bit after offering their unlimited data plan which was a bigger success than they anticipated. He would buy RCI.B-T. A year from now they won't have any issues with unlimited data.
Cable
BUY
BUY
December 16, 2019
It is going to be a close call as to whether the tender results in their favour. There have been dissenters. BC has had it really rough in the forestry industry. The US housing market is picking up so you are seeing lumber prices picking up. They are the largest lumber producer and the lowest cost producer.
It is going to be a close call as to whether the tender results in their favour. There have been dissenters. BC has had it really rough in the forestry industry. The US housing market is picking up so you are seeing lumber prices picking up. They are the largest lumber producer and the lowest cost producer.
west coast forestry
BUY
BUY
December 16, 2019
It is increasingly attractive. They are talking about their Prince-Rupert-of-the-East strategy. There are less utilized assets there. There is a lot of product moving from south China and it is cheaper to ship it through the Suez Canal and get it to the east coast of North America. A lot of manufacturing is moving out of China and to the south because of trade wars.
Show full opinionHide full opinionIt is increasingly attractive. They are talking about their Prince-Rupert-of-the-East strategy. There are less utilized assets there. There is a lot of product moving from south China and it is cheaper to ship it through the Suez Canal and get it to the east coast of North America. A lot of manufacturing is moving out of China and to the south because of trade wars.
Transportation
BUY
BUY
December 16, 2019
He believes the target price is achievable but not in 12 months. Reconstruction over recent years is starting to pay off. He would consider this if you wanted a US bank but he prefers Canadian banks. (Analysts’ price target is $37.00)
Show full opinionHide full opinionHe believes the target price is achievable but not in 12 months. Reconstruction over recent years is starting to pay off. He would consider this if you wanted a US bank but he prefers Canadian banks. (Analysts’ price target is $37.00)
banks
DON'T BUY
DON'T BUY
December 16, 2019
His view on gold stocks is that there are three kinds of stocks. The large caps have a difficult time growing; the small caps are too risky and then there are the mid-tiers. The latter are the most attractive and more so are any that are about to become a mid-tier. He prefers EQX-X. Management has an impressive track record.
His view on gold stocks is that there are three kinds of stocks. The large caps have a difficult time growing; the small caps are too risky and then there are the mid-tiers. The latter are the most attractive and more so are any that are about to become a mid-tier. He prefers EQX-X. Management has an impressive track record.
precious metals
BUY
BUY
December 16, 2019
His view on gold stocks is that there are three kinds of stocks. The large caps have a difficult time growing; the small caps are too risky and then there are the mid-tiers. The latter are the most attractive and more so are any that are about to become a mid-tier. He prefers EQX-X. Management has an impressive track record.
His view on gold stocks is that there are three kinds of stocks. The large caps have a difficult time growing; the small caps are too risky and then there are the mid-tiers. The latter are the most attractive and more so are any that are about to become a mid-tier. He prefers EQX-X. Management has an impressive track record.
Mining
SELL
SELL
December 16, 2019
It looks like they are going to be bought out by a UK company. He would sell. This is probably a decent price to sell and re-invest elsewhere.
Show full opinionHide full opinionIt looks like they are going to be bought out by a UK company. He would sell. This is probably a decent price to sell and re-invest elsewhere.
other services
N/A
N/A
November 11, 2019
Market. He is watching the American NAHB Housing Market Index. Global PMI numbers were contracting for 6 months in a row yet the home building numbers are at 20 month highs. You rarely have a recession when the home building industry is doing well. Lumber prices are picking up. Consumer spending south of the boarder is at a 6 year low but optimism is at a 19 year high. This is a conflict. The federal reserve is cutting rates and yet the unemployment rates are at 50 year lows. There are plummeting bond yield. Investors should take a shallow recession into account.
Show full opinionHide full opinionMarket. He is watching the American NAHB Housing Market Index. Global PMI numbers were contracting for 6 months in a row yet the home building numbers are at 20 month highs. You rarely have a recession when the home building industry is doing well. Lumber prices are picking up. Consumer spending south of the boarder is at a 6 year low but optimism is at a 19 year high. This is a conflict. The federal reserve is cutting rates and yet the unemployment rates are at 50 year lows. There are plummeting bond yield. Investors should take a shallow recession into account.
DON'T BUY
DON'T BUY
November 11, 2019
You should be concerned about electric vehicles if ATD.B-T will be a long term hold. Electric cars can be charged at home whereas there is no choice as to where to take an internal combustion engine. They are watching Norway which is the leader in electric vehicle adoption.
Show full opinionHide full opinionYou should be concerned about electric vehicles if ATD.B-T will be a long term hold. Electric cars can be charged at home whereas there is no choice as to where to take an internal combustion engine. They are watching Norway which is the leader in electric vehicle adoption.
food stores
BUY
BUY
November 11, 2019
This would be the best of the life insurers. They have the cheapest valuation, the least leverage and the most opportunity for selling off legacy assets that are holding it back. It is a short term buy.
Show full opinionHide full opinionThis would be the best of the life insurers. They have the cheapest valuation, the least leverage and the most opportunity for selling off legacy assets that are holding it back. It is a short term buy.
insurance
BUY
BUY
November 11, 2019
The CEO just bought a million shares. They just purchased a refinery at a steal. The larger refinery companies would not be interested in something this small.
Show full opinionHide full opinionThe CEO just bought a million shares. They just purchased a refinery at a steal. The larger refinery companies would not be interested in something this small.
PARTIAL BUY
PARTIAL BUY
November 11, 2019
It will hold up in an economic recession. His only concern with pipelines is that interest rates have come down so far in the last year, if interest rates went back up, pipelines would probably come back off. You may only want to own some, rather than adding to the position.
Show full opinionHide full opinionIt will hold up in an economic recession. His only concern with pipelines is that interest rates have come down so far in the last year, if interest rates went back up, pipelines would probably come back off. You may only want to own some, rather than adding to the position.
oil/gas pipelines
COMMENT
COMMENT
November 11, 2019
This company has had a massive run from 2014 to where it is today. After 2008 the company was focusing on squeezing as much money as possible out of their games. About 2012 they got voted worst company in America by consumers. Then again in 2013 so it got management's attention. They changed the CEO and then the company took off. It pulled off recently because they are competing with some big players in the world.
Show full opinionHide full opinionThis company has had a massive run from 2014 to where it is today. After 2008 the company was focusing on squeezing as much money as possible out of their games. About 2012 they got voted worst company in America by consumers. Then again in 2013 so it got management's attention. They changed the CEO and then the company took off. It pulled off recently because they are competing with some big players in the world.
computer software/processing
BUY
BUY
November 11, 2019
It is coming back to life largely due to their success with E-commerce. They are leveraging the infrastructure they have. They are one of the largest E-commerce companies in the US.
Show full opinionHide full opinionIt is coming back to life largely due to their success with E-commerce. They are leveraging the infrastructure they have. They are one of the largest E-commerce companies in the US.
department stores
HOLD
HOLD
November 11, 2019
It has come off a lot because they did a large expansion at the beginning of the decade. They were banking on an increase in sales. They have a larger cost base and sales are coming off. Typically downturns in the auto sector are four years long and we are in year three. Ford would have the biggest ability to increase when the sector picks up.
Show full opinionHide full opinionIt has come off a lot because they did a large expansion at the beginning of the decade. They were banking on an increase in sales. They have a larger cost base and sales are coming off. Typically downturns in the auto sector are four years long and we are in year three. Ford would have the biggest ability to increase when the sector picks up.
Automotive
PAST TOP PICK
PAST TOP PICK
November 11, 2019
(A Top Pick Dec 10/18, Up 27%) It is growing rapidly and is priced at a single digit PE ratio. The PE cannot fall much more than where it is now.
Show full opinionHide full opinion(A Top Pick Dec 10/18, Up 27%) It is growing rapidly and is priced at a single digit PE ratio. The PE cannot fall much more than where it is now.
Financial Services
PAST TOP PICK
PAST TOP PICK
November 11, 2019
(A Top Pick Dec 10/18, Up 10%) Sentiment in the oil patch is so negative that companies are not being recognized for what they plan to do down the line. He has reduced purchases on this one. There are better places to invest. It is better to get out now.
Show full opinionHide full opinion(A Top Pick Dec 10/18, Up 10%) Sentiment in the oil patch is so negative that companies are not being recognized for what they plan to do down the line. He has reduced purchases on this one. There are better places to invest. It is better to get out now.
oil pipelines
PAST TOP PICK
PAST TOP PICK
November 11, 2019
(A Top Pick Dec 10/18, Up 14%) It is a steady performer. It is more challenging in the US for them now with falling rates. He would stick with it. This is a good time to buy Canadian banks when sentiment is low.
Show full opinionHide full opinion(A Top Pick Dec 10/18, Up 14%) It is a steady performer. It is more challenging in the US for them now with falling rates. He would stick with it. This is a good time to buy Canadian banks when sentiment is low.
banks
WATCH
WATCH
November 11, 2019
He has their product in his office. The stock is struggling. They lowered guidance twice this year. They have a new management team in place. They are re-vamping their sales strategy. The change of management is taking more time than expected. Watch it as they try to go to a more professional organization. Turnarounds don't happen quickly.
Show full opinionHide full opinionHe has their product in his office. The stock is struggling. They lowered guidance twice this year. They have a new management team in place. They are re-vamping their sales strategy. The change of management is taking more time than expected. Watch it as they try to go to a more professional organization. Turnarounds don't happen quickly.
HOLD
HOLD
November 11, 2019
The balance sheet is very healthy. His only concern is that companies that have been seen as safe have had their stock prices run up. He thinks this might cause the stock price to go sideways. They are the most innovative of the quick serve restaurant chains. They are testing Beyond Meat in south western Ontario.
Show full opinionHide full opinionThe balance sheet is very healthy. His only concern is that companies that have been seen as safe have had their stock prices run up. He thinks this might cause the stock price to go sideways. They are the most innovative of the quick serve restaurant chains. They are testing Beyond Meat in south western Ontario.
food services
N/A
N/A
November 11, 2019
Gold. How to preserve wealth in times of high inflation when you can't buy bullion in your registered account. Stocks in general are a hedge against inflation. The best stocks are companies that have exposure to hard assets. BAM.A-T is an example.
Show full opinionHide full opinion