Stock Opinions by Bryden Teich - Stockchase Experts
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Bryden Teich @

On Stockchase since : Jan 2018

Portfolio Manager at Avenue Investment Management

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Stock Opinions by Bryden Teich - Stockchase Experts

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COMMENT
General Market Comment 

November 28, 2018

The US Fed Reserve decision today puts the market on a different path for the rest of the year. Rates are just below the “neutral range” said the Fed, which caused a massive market rally. A rate hike in December is still probably priced in. He thinks the US Fed should be hiking with the state of the hot domestic economy. Trade tensions could heat up again with a weekend G20 meeting of world leaders. He thinks there have been positive statements out of the US ahead of the meeting that a deal might be struck with China – but expect the unexpected. He continues to like Canadian Financials and Industrials.
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The US Fed Reserve decision today puts the market on a different path for the rest of the year. Rates are just below the “neutral range” said the Fed, which caused a massive market rally. A rate hike in December is still probably priced in. He thinks the US Fed should be hiking with the state of the hot domestic economy. Trade tensions could heat up again with a weekend G20 meeting of world leaders. He thinks there have been positive statements out of the US ahead of the meeting that a deal might be struck with China – but expect the unexpected. He continues to like Canadian Financials and Industrials.
Unknown
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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$0.000
Owned Owned
_N/A

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COMMENT
JP Morgan Chase & Co(JPM-N) 

November 28, 2018

JP Morgan vs Citi Group – He likes the American banks. They took profit on JP Morgan a while ago although he thinks it is a more premium holding. CITI is a cheaper stock and he thinks they are planning to do a share buy-back. He prefers to own Bank of America.
Financial Services
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JP Morgan vs Citi Group – He likes the American banks. They took profit on JP Morgan a while ago although he thinks it is a more premium holding. CITI is a cheaper stock and he thinks they are planning to do a share buy-back. He prefers to own Bank of America.
Financial Services
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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$110.940
Owned Owned
_N/A

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COMMENT
CitiGroup(C-N) 

November 28, 2018

JP Morgan vs Citi Group – He likes the American banks. They took profit on JP Morgan a while ago although he thinks it is a more premium holding. CITI is a cheaper stock and he thinks they are planning to do a share buy-back. He prefers to own Bank of America.
insurance
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0 comments
JP Morgan vs Citi Group – He likes the American banks. They took profit on JP Morgan a while ago although he thinks it is a more premium holding. CITI is a cheaper stock and he thinks they are planning to do a share buy-back. He prefers to own Bank of America.
insurance
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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$65.580
Owned Owned
Unknown

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STRONG BUY
Suncor Energy Inc(SU-T) 

November 28, 2018

It is a great time to buy. With a refinery they are not impacted to the same differential issues. He thinks oil prices will be supported with growing global demand and he thinks the Canadian heavy oil differentials with tighten next year. Yield 3.5%.
integrated oils
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It is a great time to buy. With a refinery they are not impacted to the same differential issues. He thinks oil prices will be supported with growing global demand and he thinks the Canadian heavy oil differentials with tighten next year. Yield 3.5%.
integrated oils
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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$43.250
Owned Owned
No

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BUY
Toronto Dominion(TD-T) 

November 28, 2018

He owns TD and it will report tomorrow. This along with Royal Bank are the two premium Canadian banks. He expects earnings in TD to be as strong as that for Royal relatively speaking. Yield 3.5%.
banks
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He owns TD and it will report tomorrow. This along with Royal Bank are the two premium Canadian banks. He expects earnings in TD to be as strong as that for Royal relatively speaking. Yield 3.5%.
banks
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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$73.600
Owned Owned
Yes

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HOLD
Laurentian Bank(LB-T) 

November 28, 2018

They have had disclosure issues on some mortgages and the share price has been under pressure as a result. He prefers the larger premium banks. They have a reasonable yield and multiples.
banks
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They have had disclosure issues on some mortgages and the share price has been under pressure as a result. He prefers the larger premium banks. They have a reasonable yield and multiples.
banks
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0 comments
Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$41.330
Owned Owned
No

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BUY
Apple(AAPL-Q) 

November 28, 2018

They have recently taken profit. He still likes it and may consider getting back in. There are headwinds with slower iPhone sales, but there is no other big cap that offers the same growth potential. He wonders if growth in emerging markets potentially being for lower cost phones.
electrical/electronic
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They have recently taken profit. He still likes it and may consider getting back in. There are headwinds with slower iPhone sales, but there is no other big cap that offers the same growth potential. He wonders if growth in emerging markets potentially being for lower cost phones.
electrical/electronic
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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$180.940
Owned Owned
No

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DON'T BUY
General Electric(GE-N) 

November 28, 2018

He looked at it a year ago while it was going through re-structuring. He thinks it still has not fully bottomed in price. They are now selling parts of the business to pay down debt and funding costs may be going up. About 40% of their business is in turbine power business and that may be slowing down.
electrical/electronic
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0 comments
He looked at it a year ago while it was going through re-structuring. He thinks it still has not fully bottomed in price. They are now selling parts of the business to pay down debt and funding costs may be going up. About 40% of their business is in turbine power business and that may be slowing down.
electrical/electronic
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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$7.740
Owned Owned
No

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HOLD
Tricon Capital Group(TCN-T) 

November 28, 2018

He sold this about 2 years ago. As the US housing market recovered this had done well. Now that US housing is slowing and US interest rates may be near 5-6%, he thinks this could further impact demand. He likes the yield and thinks it would continue to be a hold. (Analysts’ price target is $13.86)
REAL ESTATE
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He sold this about 2 years ago. As the US housing market recovered this had done well. Now that US housing is slowing and US interest rates may be near 5-6%, he thinks this could further impact demand. He likes the yield and thinks it would continue to be a hold. (Analysts’ price target is $13.86)
REAL ESTATE
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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$10.330
Owned Owned
No

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HOLD
Amazon.com(AMZN-Q) 

November 28, 2018

A record Black Friday and strong Cyber Monday. This is not a valuation they could justify owning now at. They are expanding into many markets, but the multiples are just too high.
specialty stores
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0 comments
A record Black Friday and strong Cyber Monday. This is not a valuation they could justify owning now at. They are expanding into many markets, but the multiples are just too high.
specialty stores
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0 comments
Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$1677.750
Owned Owned
No

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DON'T BUY
Altagas Ltd(ALA-T) 

November 28, 2018

The integration of WGL and concerns over funding costs were overshadowed by a weak quarterly earnings report. They sold out at $18.25. They own good quality assets, but financing costs and concerns over higher interest rates is casting doubt out the dividend being maintained. Their risk management would not allow them to enter into this.
oil/gas
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0 comments
The integration of WGL and concerns over funding costs were overshadowed by a weak quarterly earnings report. They sold out at $18.25. They own good quality assets, but financing costs and concerns over higher interest rates is casting doubt out the dividend being maintained. Their risk management would not allow them to enter into this.
oil/gas
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0 comments
Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$14.000
Owned Owned
No

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HOLD
Keyera Corp(KEY-T) 

November 28, 2018

He owns it and believes the market over-punished it for the recent missed earnings. He still likes it and is closing to adding more to their position. Yield 6%. (Analysts’ price target is $39.67)
oil/gas
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0 comments
He owns it and believes the market over-punished it for the recent missed earnings. He still likes it and is closing to adding more to their position. Yield 6%. (Analysts’ price target is $39.67)
oil/gas
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0 comments
Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$28.230
Owned Owned
Unknown

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BUY
He likes the asset management model going forward. They have a great reputation for running their business. It would be highly leveraged to the US market. He would prefer to own the parent company (BX-N), who is less levered to European assets.
finance/leasing
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0 comments
He likes the asset management model going forward. They have a great reputation for running their business. It would be highly leveraged to the US market. He would prefer to own the parent company (BX-N), who is less levered to European assets.
finance/leasing
0 0 0 0 0
0 comments
Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$35.440
Owned Owned
No

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HOLD
Thomson Reuters Corp(TRI-T) 

November 28, 2018

This company has gone through a lot of changes. A good business, but trades at very expensive multiples. He would diversify into something more reasonably priced.
publishing/printing
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0 comments
This company has gone through a lot of changes. A good business, but trades at very expensive multiples. He would diversify into something more reasonably priced.
publishing/printing
0 0 0 0 0
0 comments
Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$66.460
Owned Owned
No

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DON'T BUY
Encana Corp(ECA-T) 

November 28, 2018

They did a recent transaction to add to their US business. Management tried to right size the ship, but their long term return on capital is not as good as others. He would not call it the highest quality in the space.
oil/gas
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0 comments
They did a recent transaction to add to their US business. Management tried to right size the ship, but their long term return on capital is not as good as others. He would not call it the highest quality in the space.
oil/gas
0 0 0 0 0
0 comments
Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$9.150
Owned Owned
No

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