Brian Madden
Member since: Aug '16
Senior VP & Portfolio Manager at
Goodreid Investment Council
Goodreid Investment Council
861 Opinions
Latest Top Picks
(A Top Pick Feb 03/20, Up 5%) A long-time core holding. Continues to like it.
(A Top Pick Feb 03/20, Up 115%) Sometimes the stars just align for a company. A lean operator in a business ripe for consolidation. Blockbuster acquisition last week will be massively accretive to earnings.
(A Top Pick Feb 03/20, Down 43%) A disappointment. Best of breed, integrated oil company. A slave to the commodity price. Likes the assets, so they continue to hold.
One of the 10 largest banks in the world, largest in Canada. Well diversified in business and geography. Innovator. Leader in digital and AI. Using scale to increase its competitive moat. Goal to attract 2.5 million new clients. Dividend tends to grow 7-8-9% a year, and this will continue once OSFI takes the handcuffs off. So well on their way to a return to double digit returns. Yield is 4.10%. (Analysts’ price target is $114.72)
One of the largest agri businesses in the world. Commodity prices for big cash crops are screaming hot, so this is increasing demand and pricing for fertilizer. Crown jewel is downstream supply network. Acquisitions in Southern Hemisphere extend seasonality. Shares are undervalued at 1.3x book value. Yield is 3.51%. (Analysts’ price target is $71.11)
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COMMENT
COMMENT
February 3, 2021
Is the Reddit episode behind us? He hasn't wasted a lot of effort on that circus sideshow. It's almost an idealogical crusade, rather than about the money. They're playing Russian roulette, but one spin away from the lights going out. Hopefully it's over, and now everyone can go back to focusing on fundamentals and macroeconomics.
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Is the Reddit episode behind us? He hasn't wasted a lot of effort on that circus sideshow. It's almost an idealogical crusade, rather than about the money. They're playing Russian roulette, but one spin away from the lights going out. Hopefully it's over, and now everyone can go back to focusing on fundamentals and macroeconomics.
COMMENT
COMMENT
February 3, 2021
Encouraging signs in the macroeconomic landscape? Not everything is sunshine and roses, as employment numbers are not that great. But personal incomes are holding up quite well. Retail sales are holding up pretty well. Ongoing, tremendous strength in housing. Economic variables are validating their expectations for a robust economic recovery in 2021. Should spill over into corporate earnings.
Show full opinionHide full opinionEncouraging signs in the macroeconomic landscape? Not everything is sunshine and roses, as employment numbers are not that great. But personal incomes are holding up quite well. Retail sales are holding up pretty well. Ongoing, tremendous strength in housing. Economic variables are validating their expectations for a robust economic recovery in 2021. Should spill over into corporate earnings.
DON'T BUY
DON'T BUY
February 3, 2021
Small oil and gas producer operating in Colombia. His preferred play is Parex Resources. GTE is more aggressive and not as financially strong. Parex has no debt, in fact has cash. GTE production fell off a cliff last year. Higher beta. More leveraged to an oil recovery, if you think oil's going to $70-75, which he doesn't.
Small oil and gas producer operating in Colombia. His preferred play is Parex Resources. GTE is more aggressive and not as financially strong. Parex has no debt, in fact has cash. GTE production fell off a cliff last year. Higher beta. More leveraged to an oil recovery, if you think oil's going to $70-75, which he doesn't.
oil/gas
COMMENT
COMMENT
February 3, 2021
Favourite stock in renewable energy? They don't own any of the pure plays. Try Northland Power, wind and solar outside Canada. TransAlta Renewables is another. The whole space has the sun shining on them, with both Trudeau's carbon taxes and now the Biden administration. A lot of money flows into the sector, with government policy behind it. Also ESG is really quite a juggernaut.
Show full opinionHide full opinionFavourite stock in renewable energy? They don't own any of the pure plays. Try Northland Power, wind and solar outside Canada. TransAlta Renewables is another. The whole space has the sun shining on them, with both Trudeau's carbon taxes and now the Biden administration. A lot of money flows into the sector, with government policy behind it. Also ESG is really quite a juggernaut.
WAIT
WAIT
February 3, 2021
He's on the fence. Strategically, now going in the right direction away from low-fee asset management. But they've been on a real spree of acquisitions. Wait and see if they get a return on investment dollars. A show-me story.
Show full opinionHide full opinionHe's on the fence. Strategically, now going in the right direction away from low-fee asset management. But they've been on a real spree of acquisitions. Wait and see if they get a return on investment dollars. A show-me story.
investment companies/funds
BUY
BUY
February 3, 2021
Likes it, and continues to buy. It did check back in January, and we've seen this before. Seems to be consolidating in low $40s. High beta, volatile stock. Considerably more upside. Expects good earnings growth in 2021. Methanol market is really firming up, prices are up.
Show full opinionHide full opinionLikes it, and continues to buy. It did check back in January, and we've seen this before. Seems to be consolidating in low $40s. High beta, volatile stock. Considerably more upside. Expects good earnings growth in 2021. Methanol market is really firming up, prices are up.
chemicals
BUY
BUY
February 3, 2021
A royalty play a with a skimpy cost structure. Quality, long-life asset in Quebec. Pays out special dividends, which really boosts the yield. Mature asset with not a lot of capital appreciation ahead. Good entry point for income investors.
Show full opinionHide full opinionA royalty play a with a skimpy cost structure. Quality, long-life asset in Quebec. Pays out special dividends, which really boosts the yield. Mature asset with not a lot of capital appreciation ahead. Good entry point for income investors.
Financial Services
PAST TOP PICK
PAST TOP PICK
February 3, 2021
(A Top Pick Feb 03/20, Up 5%) A long-time core holding. Continues to like it.
Show full opinionHide full opinion(A Top Pick Feb 03/20, Up 5%) A long-time core holding. Continues to like it.
banks
PAST TOP PICK
PAST TOP PICK
February 3, 2021
(A Top Pick Feb 03/20, Up 115%) Sometimes the stars just align for a company. A lean operator in a business ripe for consolidation. Blockbuster acquisition last week will be massively accretive to earnings.
Show full opinionHide full opinion(A Top Pick Feb 03/20, Up 115%) Sometimes the stars just align for a company. A lean operator in a business ripe for consolidation. Blockbuster acquisition last week will be massively accretive to earnings.
Transportation
PAST TOP PICK
PAST TOP PICK
February 3, 2021
(A Top Pick Feb 03/20, Down 43%) A disappointment. Best of breed, integrated oil company. A slave to the commodity price. Likes the assets, so they continue to hold.
Show full opinionHide full opinion(A Top Pick Feb 03/20, Down 43%) A disappointment. Best of breed, integrated oil company. A slave to the commodity price. Likes the assets, so they continue to hold.
integrated oils
BUY
BUY
February 3, 2021
Strong Asian business. If we see a couple of quarters with traction, pretty conceivable to see a 3-handle on the stock. Management doing a good job cleaning up US legacy businesses. Wealth management doing quite well. Price doesn't reflect full value of the company.
Show full opinionHide full opinionStrong Asian business. If we see a couple of quarters with traction, pretty conceivable to see a 3-handle on the stock. Management doing a good job cleaning up US legacy businesses. Wealth management doing quite well. Price doesn't reflect full value of the company.
insurance
DON'T BUY
DON'T BUY
February 3, 2021
NA remains oversupplied with gas. Best of breed producer and consolidator. If you have a more positive view on the nat gas price and supply/balance than he has, then this is your horse. But he's not a believer in the nat gas secular trade.
Show full opinionHide full opinionNA remains oversupplied with gas. Best of breed producer and consolidator. If you have a more positive view on the nat gas price and supply/balance than he has, then this is your horse. But he's not a believer in the nat gas secular trade.
oil/gas
HOLD
HOLD
February 3, 2021
Not just retail, there are offices and industrial. But it's getting tarred with the retail brush. BAM feels assets are mispriced. Bid may be sweetened. He's prepared to let go whatever the eventual offer price. Very unlikely to be another outside offer.
Not just retail, there are offices and industrial. But it's getting tarred with the retail brush. BAM feels assets are mispriced. Bid may be sweetened. He's prepared to let go whatever the eventual offer price. Very unlikely to be another outside offer.
REAL ESTATE
DON'T BUY
DON'T BUY
February 3, 2021
Wouldn't buy. Firstly on principle, as they're active managers. The ETF owns the good, the bad, and the ugly. There are a lot of garbagy business models and bottom feeders out there.
Show full opinionHide full opinionWouldn't buy. Firstly on principle, as they're active managers. The ETF owns the good, the bad, and the ugly. There are a lot of garbagy business models and bottom feeders out there.
E.T.F.'s
HOLD
HOLD
February 3, 2021
He doesn't own this one, but hard-pressed to go too far wrong owning any of the big 6 banks. 4-5% dividend yield, which grows at high single digits most years. Credit losses are behind them. Net interest margins still under pressure, but banks earn their way through whatever the economy throws at them.
Show full opinionHide full opinionHe doesn't own this one, but hard-pressed to go too far wrong owning any of the big 6 banks. 4-5% dividend yield, which grows at high single digits most years. Credit losses are behind them. Net interest margins still under pressure, but banks earn their way through whatever the economy throws at them.
banks
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