Stock Opinions by Steven Ko - Stockchase Experts
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Steven Ko

On Stockchase since : Nov 2018

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Stock Opinions by Steven Ko - Stockchase Experts

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COMMENT
General Market Comment 

November 30, 2018

He is sitting back and processing the violent selloff in tech stocks recently. He is surprised we have not seen a bounce in the market yet. As a value investor he likes the buying opportunities. The US Fed announcement this week towards being neutral has caused investors to become frigidity. The S&P500 PE ratio shows the market is expensive especially with interest rates near historic lows, so he expects “gentle headwinds” going forward.
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He is sitting back and processing the violent selloff in tech stocks recently. He is surprised we have not seen a bounce in the market yet. As a value investor he likes the buying opportunities. The US Fed announcement this week towards being neutral has caused investors to become frigidity. The S&P500 PE ratio shows the market is expensive especially with interest rates near historic lows, so he expects “gentle headwinds” going forward.
Unknown
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Steven Ko

President , Steven Ko...

Price Price
$0.000
Owned Owned
_N/A

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COMMENT
General Market Comment 

November 30, 2018

How does he calculate value? – He thinks of value as a range, not an exact number. He looks at the intrinsic value based on the earnings power of the stock and can he buy it at a low enough price to reduce his risk. You have to do your due diligence and have risk controls when things go wrong.
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How does he calculate value? – He thinks of value as a range, not an exact number. He looks at the intrinsic value based on the earnings power of the stock and can he buy it at a low enough price to reduce his risk. You have to do your due diligence and have risk controls when things go wrong.
Unknown
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Steven Ko

President , Steven Ko...

Price Price
$0.000
Owned Owned
_N/A

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COMMENT
General Market Comment 

November 30, 2018

Is Energy good value right now? – He thinks it is tough for a value investor to be in energy right now. He only holds 3% of energy in his portfolio. We just don’t know how long the supply glut will continue for.
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Is Energy good value right now? – He thinks it is tough for a value investor to be in energy right now. He only holds 3% of energy in his portfolio. We just don’t know how long the supply glut will continue for.
Unknown
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Steven Ko

President , Steven Ko...

Price Price
$0.000
Owned Owned
_N/A

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COMMENT
General Market Comment 

November 30, 2018

How do you stay disciplined? – He suggests having a checklist. Look for companies that can protect high earning growth returns. Does the company deploy capital in an intelligent way? Does the company re-invest cash-flow to grow the company? Lastly, look for opportunity to purchase value – the lower the price relative to its intrinsic value.
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How do you stay disciplined? – He suggests having a checklist. Look for companies that can protect high earning growth returns. Does the company deploy capital in an intelligent way? Does the company re-invest cash-flow to grow the company? Lastly, look for opportunity to purchase value – the lower the price relative to its intrinsic value.
Unknown
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Steven Ko

President , Steven Ko...

Price Price
$0.000
Owned Owned
_N/A

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COMMENT
General Market Comment 

November 30, 2018

Are Canadian banks good value? – They are currently good buys and recent quarterly earnings are good. BNS-T had great international growth. The group trades at a discount to the long term PE. They are an oligopoly in the Canadian space – a strong position. The banks have done a good job at risk control.
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Are Canadian banks good value? – They are currently good buys and recent quarterly earnings are good. BNS-T had great international growth. The group trades at a discount to the long term PE. They are an oligopoly in the Canadian space – a strong position. The banks have done a good job at risk control.
Unknown
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Steven Ko

President , Steven Ko...

Price Price
$0.000
Owned Owned
_N/A

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DON'T BUY
Kinross Gold(K-T) 

November 30, 2018

They missed expectations this quarter. It is an uphill battle for gold with cost risk, execution risk and more. If you want gold exposure, he would prefer a gold ETF or a royalty like Franco-Nevada.
precious metals
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They missed expectations this quarter. It is an uphill battle for gold with cost risk, execution risk and more. If you want gold exposure, he would prefer a gold ETF or a royalty like Franco-Nevada.
precious metals
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Steven Ko

President , Steven Ko...

Price Price
$3.600
Owned Owned
No

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HOLD
Honeywell International(HON-N) 

November 30, 2018

He likes the management team and their branding. The stock is still too expensive. He would continue to hold it if you already own it. (Analysts’ price target is $165.00)
mngmnt/diversified
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He likes the management team and their branding. The stock is still too expensive. He would continue to hold it if you already own it. (Analysts’ price target is $165.00)
mngmnt/diversified
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Steven Ko

President , Steven Ko...

Price Price
$146.750
Owned Owned
No

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STRONG BUY
This is a core holding for him and it is a strong buy. As a spin-off of Brookfield Asset Management, the goal of the company is to re-invest capital and rotate it into high yielding opportunities – it pays very little dividend.
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This is a core holding for him and it is a strong buy. As a spin-off of Brookfield Asset Management, the goal of the company is to re-invest capital and rotate it into high yielding opportunities – it pays very little dividend.
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Steven Ko

President , Steven Ko...

Price Price
$46.840
Owned Owned
Yes

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WATCH
Long term this will be a good holding. It trades in a high-teens PE ratio. They are still small players in the bus market. He is impressed by management and likes the share buy-back, but he still needs to do more research.
Automotive
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Long term this will be a good holding. It trades in a high-teens PE ratio. They are still small players in the bus market. He is impressed by management and likes the share buy-back, but he still needs to do more research.
Automotive
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Steven Ko

President , Steven Ko...

Price Price
$37.800
Owned Owned
No

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DON'T BUY
Micron Technology(MU-Q) 

November 30, 2018

Anytime a stock trades less than 4 times earnings, it usually foretells doom. The new CEO has restructured the balance sheet and now they have $2 billion of net cash, which is good. The flash memory product has faced headwinds. He thinks this is trading at too high a value still.
computer software/processing
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Anytime a stock trades less than 4 times earnings, it usually foretells doom. The new CEO has restructured the balance sheet and now they have $2 billion of net cash, which is good. The flash memory product has faced headwinds. He thinks this is trading at too high a value still.
computer software/processing
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Steven Ko

President , Steven Ko...

Price Price
$38.560
Owned Owned
No

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STRONG BUY
This is a speciality chemical company that is involved with chemical use in cell phone development. It is a small cap company, but has great growth opportunities.
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This is a speciality chemical company that is involved with chemical use in cell phone development. It is a small cap company, but has great growth opportunities.
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Steven Ko

President , Steven Ko...

Price Price
$11.770
Owned Owned
Yes

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COMMENT
Magna Int'l. (A)(MG-T) 

November 30, 2018

There is an overhang in the auto parts space. He thinks it has good value and trades at a good multiple. Fears of cyclicality appear overblown to him. (Analysts’ price target is $78.50)
Automotive
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There is an overhang in the auto parts space. He thinks it has good value and trades at a good multiple. Fears of cyclicality appear overblown to him. (Analysts’ price target is $78.50)
Automotive
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Steven Ko

President , Steven Ko...

Price Price
$66.310
Owned Owned
Unknown

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HOLD
First National Financial(FN-T) 

November 30, 2018

They have raised dividends, which signals confidence by management – who also owns the majority of shares. It has a service advantage and get loan turnarounds quickly. Brokers have technological advantages and there is reoccurring capital. Once a mortgage is closed it becomes highly visible and it shows the cash flow path.
Financial Services
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They have raised dividends, which signals confidence by management – who also owns the majority of shares. It has a service advantage and get loan turnarounds quickly. Brokers have technological advantages and there is reoccurring capital. Once a mortgage is closed it becomes highly visible and it shows the cash flow path.
Financial Services
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Steven Ko

President , Steven Ko...

Price Price
$28.840
Owned Owned
No

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BUY
He likes most of the Brookfield holdings and owns the parent company. Its payout ratio is about 80%, but sees the dividend as safe. It is soundly run and trades at a discount to NAV. A great long term holding. Yield 6.5%.
REAL ESTATE
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He likes most of the Brookfield holdings and owns the parent company. Its payout ratio is about 80%, but sees the dividend as safe. It is soundly run and trades at a discount to NAV. A great long term holding. Yield 6.5%.
REAL ESTATE
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Steven Ko

President , Steven Ko...

Price Price
$23.440
Owned Owned
No

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STRONG BUY
Howard Huges (HHC-N) 

November 30, 2018

This is a core holding for him. The value of the real estate holdings alone are $200 per share. It is a hard company to value as half the company is recurring revenue and half is land sales. He is not sure how price reconnects with value – perhaps a matter of time.
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This is a core holding for him. The value of the real estate holdings alone are $200 per share. It is a hard company to value as half the company is recurring revenue and half is land sales. He is not sure how price reconnects with value – perhaps a matter of time.
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Steven Ko

President , Steven Ko...

Price Price
$110.760
Owned Owned
Yes

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