Stock Opinions by Kash Pashootan - Stockchase Experts
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Kash Pashootan @

On Stockchase since : Jan 2015

CEO & Chief Investment Officer at First Avenue Investment Counsel

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Kash Pashootan Latest Top Picks...

Stock Opinions by Kash Pashootan - Stockchase Experts

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General Market Comment 

March 7, 2019

Market. It is a big change from how we ended the year. He is on the more cautious side. It is great to see a 'V' shaped recovery but he thinks a there is not a lot that has changed. We were overdue for a correction. The strength of the recovery makes him say that we are back to the point where we need another correction. The US market is healthy. When you break it down you find it is a small group of stocks. He thinks it is healthy that those stocks have retreated.
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Market. It is a big change from how we ended the year. He is on the more cautious side. It is great to see a 'V' shaped recovery but he thinks a there is not a lot that has changed. We were overdue for a correction. The strength of the recovery makes him say that we are back to the point where we need another correction. The US market is healthy. When you break it down you find it is a small group of stocks. He thinks it is healthy that those stocks have retreated.
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$0.000
Owned Owned
_N/A

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General Market Comment 

March 7, 2019

Early Forties, no debt. How to construct portfolio. Start with investing in what you understand. Keep it to a time tested recipe. Time-tested dividends are the way to go. ETFs are recommended. Keep it simple. Start with the US market. As capital grows start to become more customized.
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Early Forties, no debt. How to construct portfolio. Start with investing in what you understand. Keep it to a time tested recipe. Time-tested dividends are the way to go. ETFs are recommended. Keep it simple. Start with the US market. As capital grows start to become more customized.
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$0.000
Owned Owned
_N/A

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DON'T BUY
Walmart Inc(WMT-N) 

March 7, 2019

They executed in a very difficult environments, fending off the AMZN-Q effect. They have scope and attractive prices. They are effective in growing their online presence. It is over 20 times price to earnings. He invests in those who can raise dividends. Wal-Mart is modernizing stores so there will be a drain. Dividend increases are not overly likely.
department stores
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They executed in a very difficult environments, fending off the AMZN-Q effect. They have scope and attractive prices. They are effective in growing their online presence. It is over 20 times price to earnings. He invests in those who can raise dividends. Wal-Mart is modernizing stores so there will be a drain. Dividend increases are not overly likely.
department stores
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$97.450
Owned Owned
Unknown

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BUY
Laurentian Bank(LB-T) 

March 7, 2019

The juicy dividend sticks out. He thinks it is safe, but you have to be able to stomach some volatility. Their business lines are concentrated on the Canadian consumer, vs. BNS-T, which is international. The dividend is safe but it could have a 20% correction from here. It is not a screaming buy although the yield is tough to replace.
banks
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The juicy dividend sticks out. He thinks it is safe, but you have to be able to stomach some volatility. Their business lines are concentrated on the Canadian consumer, vs. BNS-T, which is international. The dividend is safe but it could have a 20% correction from here. It is not a screaming buy although the yield is tough to replace.
banks
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$40.360
Owned Owned
Unknown

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PARTIAL BUY
Dollarama Inc.(DOL-T) 

March 7, 2019

Reports on March 28th. He does not own it but it has been one of the darlings on the TSX this decade. It has its challenges. Last year we saw same store sales drop. It has come off its highs but is starting to rebound. 22 times price to earnings. The decline is not meaningful enough to back up the truck. Take a third or a half position. Be ready to buy on weakness.
Consumer Products
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Reports on March 28th. He does not own it but it has been one of the darlings on the TSX this decade. It has its challenges. Last year we saw same store sales drop. It has come off its highs but is starting to rebound. 22 times price to earnings. The decline is not meaningful enough to back up the truck. Take a third or a half position. Be ready to buy on weakness.
Consumer Products
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$36.750
Owned Owned
No

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DON'T BUY
It is a well established business. It is diversified. There is the wealth management business. The dividend is safe. The broad mutual fund business is under pressure. Buy it for yield but not for growth. See Canadian banks.
finance/leasing
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It is a well established business. It is diversified. There is the wealth management business. The dividend is safe. The broad mutual fund business is under pressure. Buy it for yield but not for growth. See Canadian banks.
finance/leasing
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$29.790
Owned Owned
Unknown

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BUY
They are the most attractive from a valuation basis. 5% yield. Canadian banks above 5% yield are always a buy. CM-T has not participated in recent strength in banks. It’s a buying opportunity.
banks
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They are the most attractive from a valuation basis. 5% yield. Canadian banks above 5% yield are always a buy. CM-T has not participated in recent strength in banks. It’s a buying opportunity.
banks
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$112.330
Owned Owned
Yes

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DON'T BUY
Toyota(TM-N) 

March 7, 2019

He thinks the US economy is in a better shape than the Canadian. As you raise interest rates your currency gets stronger so he thinks the US$ will strengthen and US equities will strengthen. You need to be cautious with AUTOs. We are seeing a slowdown. Electrification and hybrid vehicles present uncertainty. He does not know where this company stands with electric vehicles.
Automotive
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He thinks the US economy is in a better shape than the Canadian. As you raise interest rates your currency gets stronger so he thinks the US$ will strengthen and US equities will strengthen. You need to be cautious with AUTOs. We are seeing a slowdown. Electrification and hybrid vehicles present uncertainty. He does not know where this company stands with electric vehicles.
Automotive
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$117.240
Owned Owned
Unknown

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N/A
General Market Comment 

March 7, 2019

Geopolitical risk, BREXIT. Can low correlated assets become more correlated? He thinks so in public markets. Often when one market goes down, they all go down. You need to look at private assets.
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Geopolitical risk, BREXIT. Can low correlated assets become more correlated? He thinks so in public markets. Often when one market goes down, they all go down. You need to look at private assets.
Unknown
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$0.000
Owned Owned
_N/A

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PAST TOP PICK
Magna Int'l. (A)(MG-T) 

March 7, 2019

(A Top Pick Feb 06/18, Up 1%) You get the diversification when you own this. They are well positioned to where future growth is coming from. He continues to own it. It is not expensive and you get a reasonable dividend.
Automotive
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(A Top Pick Feb 06/18, Up 1%) You get the diversification when you own this. They are well positioned to where future growth is coming from. He continues to own it. It is not expensive and you get a reasonable dividend.
Automotive
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$67.380
Owned Owned
Yes

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PAST TOP PICK
Broadcom(AVGO-Q) 

March 7, 2019

(A Top Pick Feb 06/18, Up 14%) They had challenges last year. There was one acquisition that failed and one that the market did not like. They bought CA and the stock was punished once again. Still they recovered from the lows. It makes sense on a long term basis. It is a top of class name.
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(A Top Pick Feb 06/18, Up 14%) They had challenges last year. There was one acquisition that failed and one that the market did not like. They bought CA and the stock was punished once again. Still they recovered from the lows. It makes sense on a long term basis. It is a top of class name.
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$265.510
Owned Owned
Yes

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PAST TOP PICK
(A Top Pick Feb 06/18, Up 3%) It was a value play. He is more excited now about the value of BNS-T and CM-T.
banks
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(A Top Pick Feb 06/18, Up 3%) It was a value play. He is more excited now about the value of BNS-T and CM-T.
banks
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$61.850
Owned Owned
Yes

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WATCH

It's down about 35% over 52 weeks. They were in the print business and transitioned away from print. They divested and reinvested in assets to be more established in the packaging space. Previous acquisitions have worked well. You have to have patience with it. The dividend is safe for the time being. They took on a lot of debt when they made the acquisition. It's early and it will take time.

publishing/printing
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It's down about 35% over 52 weeks. They were in the print business and transitioned away from print. They divested and reinvested in assets to be more established in the packaging space. Previous acquisitions have worked well. You have to have patience with it. The dividend is safe for the time being. They took on a lot of debt when they made the acquisition. It's early and it will take time.

publishing/printing
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$17.300
Owned Owned
Yes

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BUY

They have done a great job. The earnings have grown but the multiple has not skyrocketed. You are not paying a major premium to own it here. It had a meaningful correction and he thinks there is more upside to be had. There is no reason to hold back from buying or adding to the position. It does not fit his portfolio at this time.

Transportation
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They have done a great job. The earnings have grown but the multiple has not skyrocketed. You are not paying a major premium to own it here. It had a meaningful correction and he thinks there is more upside to be had. There is no reason to hold back from buying or adding to the position. It does not fit his portfolio at this time.

Transportation
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$39.500
Owned Owned
No

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BUY on WEAKNESS
They have certainly executed but you are paying a premium for it. The chart looks like a 'V' and when this happens he gets concerned. (Analysts’ price target is $31.00)
REAL ESTATE
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They have certainly executed but you are paying a premium for it. The chart looks like a 'V' and when this happens he gets concerned. (Analysts’ price target is $31.00)
REAL ESTATE
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$26.200
Owned Owned
Unknown

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