Opinions by Danesh Rohinton | StockChase
12
Danesh Rohinton

Portfolio manager

ON STOCKCHASE SINCE Oct 2017

Cambridge Global Asset Management


Opinions by Danesh Rohinton


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2017-10-30

N/A
A Comment -- General Comments From an Expert 

How do you evaluate an opportunity?  Looking at Tech stocks: The customer has to like the product.  The company should be continually gaining market share over the years.  Then they can continuously grow.  [Rohinton] A finance stock has to give you comfort over the downside.  You have to look through the balance sheet to understand the risks.  Then he looks at the upside.  [Groff] Avoiding losses is important, especially when markets are hitting new highs and there is complacency.

Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $0.020
Owned: _N/A

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2017-10-30

N/A
A Comment -- General Comments From an Expert 

Canadian Bank Splits.  Don’t worry about splits.  Today we are at a 25 year high in consumer credit in Canada and banks are at an all time high.  A US footprint is a good ideas but looking at US banks directly is even better.

Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $0.020
Owned: _N/A

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2017-10-30

N/A
A Comment -- General Comments From an Expert 

Insurance Companies US and Canada.  Long term they are a great business.  Intact (IFC-T) is a great business in Canada with a good management team.  Chub (CB-N) is excellent, but focus on these two primary insurers and stay away from reinsurance companies because it has been commoditized.  Climate change adds more volatility to the industry.

Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $0.020
Owned: _N/A

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2017-10-30

BUY
TD Ameritrade Holding (AMTD-Q)

HSBC-Q vs. AMTD-Q.  The TD business sis a better long term holding than HSBC.  They have been benefiting from the globalization of China but have not been investing long term in their regional offices.  TD has a growth opportunity with independent advisors.  It is a better long term risk reward.

Financial Services
Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $49.940
Owned: Unknown

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2017-10-30

TOP PICK
Athene Holding Ltd. (ATH-N)

It only went public last December.  It was owned by a company in the Netherlands.  They are now the largest in the US market.  They have no debt and no holding company debt.  It has 10 to 11 times earnings.  (Analysts’ target: $61.00).

Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $52.940
Owned: Yes

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2017-10-30

WAIT
Bank of Montreal (BMO-T)

With a one year horizon, it is too hard to forecast.  Over the long term the new management team has a strong leader with a capital markets background and a cost cutting initiative.  It is not attractive today but is long term.  The critical question is the success of the Harris Bank integration.  BMO has been having trouble with growth but this is a long term opportunity.

banks
Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $100.010
Owned: Unknown

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2017-10-30

DON'T BUY
Canadian Imperial Bank of Commerce (CM-T)

He places a lot of value on a management team and this one has done a great job of turning them around.  It is a long term potential opportunity but with a high domestic focus.

banks
Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $113.550
Owned: No

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2017-10-30

DON'T BUY
Deutsche Bank AG (DB-N)

They raised capital and did not put it to good use.  It is not going to earn a dime, but will prop up the balance sheet.  He focuses on the balance sheet and this is an example of some of those risks that show up in them.

banks
Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $16.260
Owned: Unknown

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2017-10-30

DON'T BUY
HSBC Holdings P L C (HSBC-N)

HSBC-Q vs. AMTD-Q.  The TD business is a better long term holding than HSBC.  They have been benefiting from the globalization of China but have not been investing long term in their regional offices.  TD has a growth opportunity with independent advisors.  It is a better long term risk reward.

banks
Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $48.740
Owned: Unknown

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2017-10-30

BUY on WEAKNESS
JP Morgan Chase & Co (JPM-N)

It is an excellent vertically integrated financial services company: capital markets, retail banking and wealth management well.  The valuation is on the higher end today but is a good long term hold.  He would be more interested at 10 times earnings.

Financial Services
Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $101.410
Owned: Unknown

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2017-10-30

WATCH
Manulife Financial (MFC-T)

A great long term compounder but short term it is outperforming in Asia-pacific.  That is caused by a desire for nationals to get money out of the country so he is suspicious of the growth going forward.  It is It is a long term opportunity but he is not bullish short term.  It is doing a great job in Canada and the US looks to be on track.

insurance
Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $25.950
Owned: No

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2017-10-30

DON'T BUY
National Bank of Canada (NA-T)

He thinks it is a long term hold.  He does not take ownership because of the need for downside protection.  He thinks the expectations are too high.  It has good long term prospects, however.  They are growing debt levels but incomes are not following.  They are setting up for a lack of dividend growth.

banks
Danesh Rohinton

Portfolio manager, Cambridge Global Asset Management

Price: $62.490
Owned: No

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