Stock Opinions by Wolfgang Klein - Stockchase Experts
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Wolfgang Klein @

On Stockchase since : May 2018

Senior investment advisor

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Stock Opinions by Wolfgang Klein - Stockchase Experts


Signal Opinion Expert Chart
COMMENT
General Market Comment 

June 22, 2018

Market. Based on his recent work, he thinks this is the greatest credit boom and possibly greatest bull move of the stock market.  Even if the forward interest rate curve inverts, there will be substantial credit available in the shadow banking space.  He thinks we are another year and a half away from seeing rate curves invert.  Pension funds have large shortfalls and have hurdle rates of 7% returns, which must be earned by fixed income (i.e. bonds).  This group is lending to credit-worthy companies.  This could eventually lead to the largest credit bust in history, as these groups become more and more leveraged.  He prefers the US market, because the limited number of quality Canadian equities makes the good ones very expensive compared to their US counterparts. 

Market. Based on his recent work, he thinks this is the greatest credit boom and possibly greatest bull move of the stock market.  Even if the forward interest rate curve inverts, there will be substantial credit available in the shadow banking space.  He thinks we are another year and a half away from seeing rate curves invert.  Pension funds have large shortfalls and have hurdle rates of 7% returns, which must be earned by fixed income (i.e. bonds).  This group is lending to credit-worthy companies.  This could eventually lead to the largest credit bust in history, as these groups become more and more leveraged.  He prefers the US market, because the limited number of quality Canadian equities makes the good ones very expensive compared to their US counterparts. 

Unknown
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$0.020
Owned Owned
_N/A

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COMMENT
General Market Comment 

June 22, 2018

Currency balance within your portfolio. He likes the US market.  With today’s currency, you will be paying up for US holdings.  As a Canadian having all your money in the Canadian dollar is very risky.  Adding US dollars helps reduce risk.  You will find cheaper valued stocks in the US, due to the premium paid for quality brands in Canada – and the US companies will be bigger and better.  He likes 60% US dollar exposure.  He thinks $0.80 CAN/US would be a good time to buy US dollars. 

Currency balance within your portfolio. He likes the US market.  With today’s currency, you will be paying up for US holdings.  As a Canadian having all your money in the Canadian dollar is very risky.  Adding US dollars helps reduce risk.  You will find cheaper valued stocks in the US, due to the premium paid for quality brands in Canada – and the US companies will be bigger and better.  He likes 60% US dollar exposure.  He thinks $0.80 CAN/US would be a good time to buy US dollars. 

Unknown
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$0.020
Owned Owned
_N/A

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BUY

The stock is presenting a fair valuation at these levels.  It is a very good company with multiple brands.  They have expanded into Europe, where in Norway they are involved in electric vehicle charging.  From a technical perspective, the monthly chart is at long term support (200 month moving average).  He is not a Canadian consumer staples player, but views this as a good buy for investors with a 2-3 year time horizon. 

food stores

The stock is presenting a fair valuation at these levels.  It is a very good company with multiple brands.  They have expanded into Europe, where in Norway they are involved in electric vehicle charging.  From a technical perspective, the monthly chart is at long term support (200 month moving average).  He is not a Canadian consumer staples player, but views this as a good buy for investors with a 2-3 year time horizon. 

food stores
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$58.240
Owned Owned
No

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STRONG BUY
Xylem Inc.(XYL-N) 

June 22, 2018

This water treatment company has had a good correction and now looks like a good buy.  This is a quality stock and he has been waiting to buy it – he just wants to understand why there has been a pullback.  A quality company and a great long term hold.  It is an international play and many silos of business.  The 200 month moving average is around $50 and should act as good support. 

environmental

This water treatment company has had a good correction and now looks like a good buy.  This is a quality stock and he has been waiting to buy it – he just wants to understand why there has been a pullback.  A quality company and a great long term hold.  It is an international play and many silos of business.  The 200 month moving average is around $50 and should act as good support. 

environmental
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$66.450
Owned Owned
No

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BUY on WEAKNESS

 A very smart company.  He would prefer to buy it on a pullback.  Cloud computing benefits and they are making smart acquisitions.  They have loyal clients, he says. 

computer software/processing

 A very smart company.  He would prefer to buy it on a pullback.  Cloud computing benefits and they are making smart acquisitions.  They have loyal clients, he says. 

computer software/processing
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$135.010
Owned Owned
No

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BUY on WEAKNESS
Adobe Systems(ADBE-Q) 

June 22, 2018

Would selling be a good idea?  He views this as a disciplined way to buy into a stock.  This is a quality business, but it comes at a high valuation right now.  He is already long his full allotment.  Over the next 3-4 years, this stock will continue to strengthen. 

computer software/processing

Would selling be a good idea?  He views this as a disciplined way to buy into a stock.  This is a quality business, but it comes at a high valuation right now.  He is already long his full allotment.  Over the next 3-4 years, this stock will continue to strengthen. 

computer software/processing
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$243.630
Owned Owned
Yes

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DON'T BUY
BlackBerry(BB-T) 

June 22, 2018

He thinks there are much better choices than this.  It is an encryption software company that has done a good job to extend its product life.  He would rather own Apple, Adobe or others. 

electrical/electronic

He thinks there are much better choices than this.  It is an encryption software company that has done a good job to extend its product life.  He would rather own Apple, Adobe or others. 

electrical/electronic
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$14.160
Owned Owned
No

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DON'T BUY

Technically the stock looks reasonable.  However, at 22 times earnings it is not cheap.  There had been 70,000 layoffs through the company, he says.  It is a mining and infrastructure play.  It is not his favorite space to invest.

contractors

Technically the stock looks reasonable.  However, at 22 times earnings it is not cheap.  There had been 70,000 layoffs through the company, he says.  It is a mining and infrastructure play.  It is not his favorite space to invest.

contractors
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$60.140
Owned Owned
No

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HOLD

A regional air carrier that gets its business from Air Canada.  The contract renews in the next couple of years.  The balance sheet is fine and the dividend appears safe.  He fears the recent weakness in Air Canada stock price.  Yield 6.4%.  (Analysts’ price target is $10.50)


Transportation & Environmental Services

A regional air carrier that gets its business from Air Canada.  The contract renews in the next couple of years.  The balance sheet is fine and the dividend appears safe.  He fears the recent weakness in Air Canada stock price.  Yield 6.4%.  (Analysts’ price target is $10.50)


Transportation & Environmental Services
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$7.430
Owned Owned
No

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BUY on WEAKNESS
WeedMD Inc(WMD-X) 

June 22, 2018

For his growth portfolio he owns HMMJ-T, which Canopy is a part of.  He added a little more Canopy to top up.  Buyer beware, it has a $9.5 billion market cap, making it a very expensive company to buy.  He likes the management.  He would like to see the Canadian banks get in favour of the marijuana stocks once it gets acceptance now that it is legalized.  He thinks supply will exceed demand in Canada in the next few years ahead.  He thinks there could be emerging opportunities in the US given the vast size of the market there.

For his growth portfolio he owns HMMJ-T, which Canopy is a part of.  He added a little more Canopy to top up.  Buyer beware, it has a $9.5 billion market cap, making it a very expensive company to buy.  He likes the management.  He would like to see the Canadian banks get in favour of the marijuana stocks once it gets acceptance now that it is legalized.  He thinks supply will exceed demand in Canada in the next few years ahead.  He thinks there could be emerging opportunities in the US given the vast size of the market there.

0
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$2.120
Owned Owned
Yes

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HOLD
Raytheon(RTN-N) 

June 22, 2018

He has never owned a defense stock, as it goes against his personal principals.  Under the Trump Administration, now is the time to own a defense stock.  Trading at 20 times forward earnings, it is not cheap.  A clean balance sheet, but he would have to know their order back log.  With global rising tensions, there is a lot of runway ahead (unfortunately).   (Analysts’ price target is $238)

electrical/electronic

He has never owned a defense stock, as it goes against his personal principals.  Under the Trump Administration, now is the time to own a defense stock.  Trading at 20 times forward earnings, it is not cheap.  A clean balance sheet, but he would have to know their order back log.  With global rising tensions, there is a lot of runway ahead (unfortunately).   (Analysts’ price target is $238)

electrical/electronic
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$193.380
Owned Owned
No

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DON'T BUY
Dollarama Inc.(DOL-T) 

June 22, 2018

He thinks this is massively overvalued, given it sells “junk” items.  It has a 30 times multiple.  He would rather buy McDonald’s with a 20 times earnings multiple. 

Consumer Products

He thinks this is massively overvalued, given it sells “junk” items.  It has a 30 times multiple.  He would rather buy McDonald’s with a 20 times earnings multiple. 

Consumer Products
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$53.630
Owned Owned
No

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DON'T BUY
Netflix Inc.(NFLX-Q) 

June 22, 2018

He has trouble with the valuation.  Their new content spend will exceed that of Disney, with the expectation of $10 billion to be spent in the next year.  Their subscriber fees will continue to do well; however, competition is on the way with Apple, Google and Amazon. 

He has trouble with the valuation.  Their new content spend will exceed that of Disney, with the expectation of $10 billion to be spent in the next year.  Their subscriber fees will continue to do well; however, competition is on the way with Apple, Google and Amazon. 

Unknown
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$411.090
Owned Owned
No

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SELL

He doesn’t like the C-series hole that was created.  They sold much of their growth to survive.  The chart is looking better, but he feels the company is fully valued.  He is not excited about this story.  If he owned it he would be a seller here. 

transportation equip & components

He doesn’t like the C-series hole that was created.  They sold much of their growth to survive.  The chart is looking better, but he feels the company is fully valued.  He is not excited about this story.  If he owned it he would be a seller here. 

transportation equip & components
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$5.250
Owned Owned
No

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PARTIAL SELL

A great Canadian brand, which has risen due to the scarcity of such investments.  He wished he had bought it.  He is surprised it has not been a victim of pirating and knock offs.  He would look to take some money off the table as it trades at 74 times future earnings. 

clothing

A great Canadian brand, which has risen due to the scarcity of such investments.  He wished he had bought it.  He is surprised it has not been a victim of pirating and knock offs.  He would look to take some money off the table as it trades at 74 times future earnings. 

clothing
Wolfgang Klein

Senior inv, Canaccord Genuity We...

Price Price
$76.610
Owned Owned
No

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