Andrew Pink
Member since: Aug '16
Portfolio Manager at
LDIC
LDIC
123 Opinions
Latest Top Picks
(A Top Pick Oct 23/18, Up 15%) He likes what they're doing, leasing out 56 planes and is doing very well. Likes manages. Pays a good dividend. The stock has pulled back a bit because the market suspects they will tap the equity markets to expand.
(A Top Pick Oct 23/18, Down 38%) ERF is really a US oil producer, but the whole oil sector has come under fire. He sold ERF and a lot of his oil shares, down to a 4% weight.
(A Top Pick Oct 23/18, Down 5%) Unfortunately, this is painted with the same oil brush, and the oil sector is under fire. It's a mini-ATD'B. It's really a consumer discretionary stock and not energy.
Phenomenal managers who've made large acquisitions seamlessly. He's long owned this. They have a $7.5 billion development pipeline of projects. They have a unique partnership with a Spanish company to finance green power and assets there, making a great yield there. They have a lot on the go. Utilities and this stock will do very well during low interest rates. Pays a 4.35% yield. (Analysts’ price target is $17.98)
A diversified REIT, part of the Brookfield family. They take malls and them mixed-use buildings including residences and offices. Amazing assets. The stock has taken a slight hit, because the market doesn't see this value yet. (Analysts’ price target is $31.14)
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COMMENT
COMMENT
August 27, 2019
Trump's tweeting is a bit of a nightmare. He attacked Jerome Powell today for not cutting rates more. But we've had a string of positive days including today. He remains optimistic about pockets of the market. The inverted yield curve, historically, leads to a recession. He's moving some stocks into fixed income and cash, some preferred shares, but he isn't exiting the market. He expects low rates for a long time. There's no inflation for the time being. And pockets of the market can do really well, namely REITs (he sold lifecos and banks to buy REITs); utilities will continue to do well; healthcare and consumer names; telcos. BNS's numbers were okay today, but BMO was not. He isn't worried about a market collapse, but volatility yes.
Trump's tweeting is a bit of a nightmare. He attacked Jerome Powell today for not cutting rates more. But we've had a string of positive days including today. He remains optimistic about pockets of the market. The inverted yield curve, historically, leads to a recession. He's moving some stocks into fixed income and cash, some preferred shares, but he isn't exiting the market. He expects low rates for a long time. There's no inflation for the time being. And pockets of the market can do really well, namely REITs (he sold lifecos and banks to buy REITs); utilities will continue to do well; healthcare and consumer names; telcos. BNS's numbers were okay today, but BMO was not. He isn't worried about a market collapse, but volatility yes.
Andrew Pink
Portfolio Manager, LDIC
COMMENT
COMMENT
August 27, 2019
Replace a floating rate, preferred share ETF with a US treasury ETF? Yes, if you believe interest rates will go to zero. He believes rates are declining, but you don't need to go to a US treasury, but rather a corporate bond for more yield. He owns some of these rate-reset issues as a hedge that pays a 6-7% yield with safe credit quality and won't default. It all depends on the positioning of your portfolio and call on interest rates.
Replace a floating rate, preferred share ETF with a US treasury ETF? Yes, if you believe interest rates will go to zero. He believes rates are declining, but you don't need to go to a US treasury, but rather a corporate bond for more yield. He owns some of these rate-reset issues as a hedge that pays a 6-7% yield with safe credit quality and won't default. It all depends on the positioning of your portfolio and call on interest rates.
Andrew Pink
Portfolio Manager, LDIC
BUY
BUY
August 27, 2019
A big holding of his and he really likes it. This does very well during low interest rates. Loves the managers. They have big pipeline of projects with a big growth opportunity in India. Careful though if interest rates rise.
A big holding of his and he really likes it. This does very well during low interest rates. Loves the managers. They have big pipeline of projects with a big growth opportunity in India. Careful though if interest rates rise.
INDUSTRIAL PRODUCTS
DON'T BUY
DON'T BUY
August 27, 2019
If a recession hit? Anything valued on a multiple of revenue will suffer in a market downturn. It's had a massive move, trading at 654x--the valuation makes little sense. It's a momentum name. In a recession this will come off hard. However, he wishes he had bought this at $100.
If a recession hit? Anything valued on a multiple of revenue will suffer in a market downturn. It's had a massive move, trading at 654x--the valuation makes little sense. It's a momentum name. In a recession this will come off hard. However, he wishes he had bought this at $100.
COMMENT
COMMENT
August 27, 2019
BEP preferred shares: What are the risks of a preferred vs. the regular stock? A preferred share ranks higher than a common equity. Good credit quality, but this is not a reset issue, but a perpetual. Pays a yield around 6%. It's almost like a bond instrument, higher quality than a common equity but the latter's growth trajectory.
BEP preferred shares: What are the risks of a preferred vs. the regular stock? A preferred share ranks higher than a common equity. Good credit quality, but this is not a reset issue, but a perpetual. Pays a yield around 6%. It's almost like a bond instrument, higher quality than a common equity but the latter's growth trajectory.
Utilities
PAST TOP PICK
PAST TOP PICK
August 27, 2019
(A Top Pick Oct 23/18, Up 15%) He likes what they're doing, leasing out 56 planes and is doing very well. Likes manages. Pays a good dividend. The stock has pulled back a bit because the market suspects they will tap the equity markets to expand.
(A Top Pick Oct 23/18, Up 15%) He likes what they're doing, leasing out 56 planes and is doing very well. Likes manages. Pays a good dividend. The stock has pulled back a bit because the market suspects they will tap the equity markets to expand.
Transportation & Environmental Services
PAST TOP PICK
PAST TOP PICK
August 27, 2019
(A Top Pick Oct 23/18, Down 38%) ERF is really a US oil producer, but the whole oil sector has come under fire. He sold ERF and a lot of his oil shares, down to a 4% weight.
(A Top Pick Oct 23/18, Down 38%) ERF is really a US oil producer, but the whole oil sector has come under fire. He sold ERF and a lot of his oil shares, down to a 4% weight.
oil/gas
BUY
BUY
August 27, 2019
He has sold his oil stocks down to below 4% of his portfolio. This is one of them. WCP today announced it will slash its development capex by $50 million down to $400 million. A solid balance sheet of 1.4x debt to EBITDA. Pays a 9% dividend and has very good prospects. A safe dividend. It's one of his few oil stocks, but the whole oil space is under fire.
He has sold his oil stocks down to below 4% of his portfolio. This is one of them. WCP today announced it will slash its development capex by $50 million down to $400 million. A solid balance sheet of 1.4x debt to EBITDA. Pays a 9% dividend and has very good prospects. A safe dividend. It's one of his few oil stocks, but the whole oil space is under fire.
Oil and Gas (Integrated Oils)
PAST TOP PICK
PAST TOP PICK
August 27, 2019
(A Top Pick Oct 23/18, Down 5%) Unfortunately, this is painted with the same oil brush, and the oil sector is under fire. It's a mini-ATD'B. It's really a consumer discretionary stock and not energy.
(A Top Pick Oct 23/18, Down 5%) Unfortunately, this is painted with the same oil brush, and the oil sector is under fire. It's a mini-ATD'B. It's really a consumer discretionary stock and not energy.
merchandising/lodging
BUY
BUY
August 27, 2019
He bought the IPO and held it to $30. Loves the managers and the story idea. It now trades at a big multiple, too big for him. It's a great Canadian story. They will do well. On the same trajectory as Shopify.
He bought the IPO and held it to $30. Loves the managers and the story idea. It now trades at a big multiple, too big for him. It's a great Canadian story. They will do well. On the same trajectory as Shopify.
DON'T BUY
DON'T BUY
August 27, 2019
Pays a near 15% dividend, which is getting dangerous. They carry $2 billion of debt, not horrible leverage, but still.... VET is in the wrong sector--oil is getting punished. There needs to be a China trade deal for oil to lift. Could be a couple of years before oil picks up. He owns only 4% oil.
Pays a near 15% dividend, which is getting dangerous. They carry $2 billion of debt, not horrible leverage, but still.... VET is in the wrong sector--oil is getting punished. There needs to be a China trade deal for oil to lift. Could be a couple of years before oil picks up. He owns only 4% oil.
oil/gas
BUY WEAKNESS
BUY WEAKNESS
August 27, 2019
During a recession? Below $65 is an entry point. This will do well during low interest rates. Nothing holds up very well in a recession, but this will do better than most stocks. Maybe put a half-weight on now, if you expect a recession within a year.
During a recession? Below $65 is an entry point. This will do well during low interest rates. Nothing holds up very well in a recession, but this will do better than most stocks. Maybe put a half-weight on now, if you expect a recession within a year.
management/diversified
BUY
BUY
August 27, 2019
Cable
BUY
BUY
August 27, 2019
ALA-T? He prefers Pembina and has performed much better than ALA. Pembina just bought the Kinder Morgan Canada pipeline and section of a US pipeline. It pays a good dividend. He likes pipelines. It's held up during this volatility.
ALA-T? He prefers Pembina and has performed much better than ALA. Pembina just bought the Kinder Morgan Canada pipeline and section of a US pipeline. It pays a good dividend. He likes pipelines. It's held up during this volatility.
pipelines
BUY
BUY
August 27, 2019
He used to own it. He sold it too early but did well with it. He likes this space, especially in the U.S. They are below Walmart's price point, US employment is full and US consumers have money. Doing much better than Dollar Tree.
He used to own it. He sold it too early but did well with it. He likes this space, especially in the U.S. They are below Walmart's price point, US employment is full and US consumers have money. Doing much better than Dollar Tree.
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