Opinions by Robert McWhirter | StockChase
1920
Robert McWhirter

President

ON STOCKCHASE SINCE Nov 2000

Selective Asset Management

1920
Robert McWhirter

President

ON STOCKCHASE SINCE Nov 2000

Selective Asset Management


Opinions by Robert McWhirter


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General Market Comment 

November 15, 2017

Market. At the moment we are in an intermediate up leg, a very short-term type of correction. As a result, there is a rotation going on from more cyclical stocks into the consumer staples and utilities. There is a 90% likelihood interest rates are going to be raised in December, and typically everyone is concerned about rising rates being bad for stocks. Historically, that has not been the case. He is quite positive on stocks for the next 12 months.

Market. At the moment we are in an intermediate up leg, a very short-term type of correction. As a result, there is a rotation going on from more cyclical stocks into the consumer staples and utilities. There is a 90% likelihood interest rates are going to be raised in December, and typically everyone is concerned about rising rates being bad for stocks. Historically, that has not been the case. He is quite positive on stocks for the next 12 months.

Unknown
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$0.020
Owned Owned
_N/A

Must be logged in to use chart
PAST TOP PICK
Celestica Inc(CLS-T) 

November 15, 2017

(A Top Pick Jan 6/17. Down 17%.) Recent earnings have been a disappointment, down 25% on Oct 25. He used a stop loss to sell the stock earlier.

electrical/electronic

(A Top Pick Jan 6/17. Down 17%.) Recent earnings have been a disappointment, down 25% on Oct 25. He used a stop loss to sell the stock earlier.

electrical/electronic
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$13.450
Owned Owned
No

Must be logged in to use chart
PAST TOP PICK
Capstone Mining Corp.(CS-T) 

November 15, 2017

(A Top Pick Jan 6/17. Up 4%.) Still quite positive on base metals, including zinc and copper. Now people are chatting up copper and saying that if car sales hit the number that the electric car makers are suggesting, then copper would be in short supply.

precious metals

(A Top Pick Jan 6/17. Up 4%.) Still quite positive on base metals, including zinc and copper. Now people are chatting up copper and saying that if car sales hit the number that the electric car makers are suggesting, then copper would be in short supply.

precious metals
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$1.380
Owned Owned
No

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COMMENT

Runs a variety of retirement homes and long-term care facilities in Canada. Ranks 258 out of 700 stocks. Analysts are bumping up their numbers, but he doesn’t think the stock is inexpensive at this point. Free cash flow is negative at -3.3%. There are other investment income companies he would prefer.

property mngmnt/investment

Runs a variety of retirement homes and long-term care facilities in Canada. Ranks 258 out of 700 stocks. Analysts are bumping up their numbers, but he doesn’t think the stock is inexpensive at this point. Free cash flow is negative at -3.3%. There are other investment income companies he would prefer.

property mngmnt/investment
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$15.680
Owned Owned
Unknown

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COMMENT
DynaCERT Inc(DYA-X) 

November 15, 2017

Takes oxygen and hydrogen and inserts it into intake systems, particularly of large diesel engines. They’re also working on an application for smaller engines. This increases fuel economy but, most importantly, reduces particulate emissions dramatically. They are currently testing a 2nd application, on refrigerated engines on tractor-trailer units. Initial tests have been quite positive and the Company they’re working with has given them a completely different unit to verify results. If results come out as expected, that would be something quite positive. He thinks this will be a great opportunity.

machinery

Takes oxygen and hydrogen and inserts it into intake systems, particularly of large diesel engines. They’re also working on an application for smaller engines. This increases fuel economy but, most importantly, reduces particulate emissions dramatically. They are currently testing a 2nd application, on refrigerated engines on tractor-trailer units. Initial tests have been quite positive and the Company they’re working with has given them a completely different unit to verify results. If results come out as expected, that would be something quite positive. He thinks this will be a great opportunity.

machinery
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$0.540
Owned Owned
Unknown

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DON'T BUY
Enbridge(ENB-T) 

November 15, 2017

There’ve been negative estimate revisions recently. Ranks 210 out of 700 stocks. Sales were down 39% year-over-year, when they reported on Nov 2. Earnings were down 22%, and estimates have been shaved by 3%. PE is 18X for 2018. Thinks you can find other stocks with rising earnings and free cash flow giving you a better return.

oil/gas pipelines

There’ve been negative estimate revisions recently. Ranks 210 out of 700 stocks. Sales were down 39% year-over-year, when they reported on Nov 2. Earnings were down 22%, and estimates have been shaved by 3%. PE is 18X for 2018. Thinks you can find other stocks with rising earnings and free cash flow giving you a better return.

oil/gas pipelines
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$44.060
Owned Owned
No

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BUY

Recently traded at $2.50, earnings were a disappointment, so it drifted down to about $1.95. They continue being in tests with Boeing (BA-N) and a courier company. Also working with one of the satellite companies. They offer a black box installed in planes for 1) communication and 2) to keep track of where the plane is. There are new regulations coming that says you have to know where a plane is. Believes this is a time to buy.

Transportation

Recently traded at $2.50, earnings were a disappointment, so it drifted down to about $1.95. They continue being in tests with Boeing (BA-N) and a courier company. Also working with one of the satellite companies. They offer a black box installed in planes for 1) communication and 2) to keep track of where the plane is. There are new regulations coming that says you have to know where a plane is. Believes this is a time to buy.

Transportation
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$1.940
Owned Owned
Unknown

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COMMENT
BSM Technologies(GPS-T) 

November 15, 2017

Uses their GPS system to figure out where trains are, and to more accurately schedule trains and service vehicles for people working on the rails. Reported on Aug 14 and earnings were down 10%. That was against a 32% increase in sales. In the coming quarter, earnings are expected to be down 75% year-over-year. Great technology. He is still waiting for the traction that is expected.

electrical/electronic

Uses their GPS system to figure out where trains are, and to more accurately schedule trains and service vehicles for people working on the rails. Reported on Aug 14 and earnings were down 10%. That was against a 32% increase in sales. In the coming quarter, earnings are expected to be down 75% year-over-year. Great technology. He is still waiting for the traction that is expected.

electrical/electronic
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$1.240
Owned Owned
No

Must be logged in to use chart
COMMENT
Hardwoods Distribution(HWD-T) 

November 15, 2017

Latest results were a disappointment, and the stock sold off. Analysts have said the 9% increase in earnings, even though sales went down 4%, is something not to get worked up about. Because of the higher ranking and what the analysts have said, he thinks this will do quite well.

merchandising/lodging

Latest results were a disappointment, and the stock sold off. Analysts have said the 9% increase in earnings, even though sales went down 4%, is something not to get worked up about. Because of the higher ranking and what the analysts have said, he thinks this will do quite well.

merchandising/lodging
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$19.220
Owned Owned
No

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BUY on WEAKNESS
Leonovus Inc(LTV-X) 

November 15, 2017

They make distributed storage. Recently announced a deal with National Bank (NA-T). If National Bank has a number of PCs behind their own firewall, they can use this. Once those are filled up to a reasonable level, they can use extra storage outside of the firewall and into the cloud. It has moved significantly from $.05 to a high of $.16, and is now trading at $.47, as they did a financing of $.50 recently. They introduced blockchain to their technology, so have a very good method of fracturing data. Blockchain allows them transparency and move lots of data quickly, as well as tracing where it went and where it came from. Has raised some money so are now aggressively continuing to build out R&D. By the end of March, they should have a product out there. He would guess this would be an Accumulate in the $.40 range.

They make distributed storage. Recently announced a deal with National Bank (NA-T). If National Bank has a number of PCs behind their own firewall, they can use this. Once those are filled up to a reasonable level, they can use extra storage outside of the firewall and into the cloud. It has moved significantly from $.05 to a high of $.16, and is now trading at $.47, as they did a financing of $.50 recently. They introduced blockchain to their technology, so have a very good method of fracturing data. Blockchain allows them transparency and move lots of data quickly, as well as tracing where it went and where it came from. Has raised some money so are now aggressively continuing to build out R&D. By the end of March, they should have a product out there. He would guess this would be an Accumulate in the $.40 range.

0
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$0.510
Owned Owned
Yes

Must be logged in to use chart
PAST TOP PICK
Magna Int'l. (A)(MG-T) 

November 15, 2017

(A Top Pick Jan 6/17. Up 15%.) They’ve said that regardless of whether it is internal combustion or an electric motor, they will quite happily end up doing well. Thinks it still has a bright future.

Automotive

(A Top Pick Jan 6/17. Up 15%.) They’ve said that regardless of whether it is internal combustion or an electric motor, they will quite happily end up doing well. Thinks it still has a bright future.

Automotive
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$67.610
Owned Owned
Yes

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TOP PICK
Metro Inc (A)(MRU-T) 

November 15, 2017

Produces about 3% free cash flow yield, which translates into $287 million worth of free cash flow over the last 12 months. Trades at 0.9 Enterprise Value to Trailing Sales, versus 6% year-over-year sales growth, so the EV to sales to sales growth is .15 which is a C+ compared to the database. Dividend yield of 1.6%. (Analysts’ price target is $46.)

food stores

Produces about 3% free cash flow yield, which translates into $287 million worth of free cash flow over the last 12 months. Trades at 0.9 Enterprise Value to Trailing Sales, versus 6% year-over-year sales growth, so the EV to sales to sales growth is .15 which is a C+ compared to the database. Dividend yield of 1.6%. (Analysts’ price target is $46.)

food stores
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$41.550
Owned Owned
Yes

Must be logged in to use chart
COMMENT
Memex Inc.(OEE-X) 

November 15, 2017

A great product with a huge payback, but despite being champions with various customers where it has been installed, it seems customers are still dragging their heels, partly because of tax legislation in the US.

A great product with a huge payback, but despite being champions with various customers where it has been installed, it seems customers are still dragging their heels, partly because of tax legislation in the US.

0
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$0.150
Owned Owned
Unknown

Must be logged in to use chart
COMMENT
Patient Home Monitoring(PHM-X) 

November 15, 2017

Ranks 135 out of 700 stocks. Overall numbers seem reasonable. The latest earnings were slightly negative at -2.4%. Earnings estimates are expected to be $.03, but it is only covered by one analyst. Seems to be expensive.

other services

Ranks 135 out of 700 stocks. Overall numbers seem reasonable. The latest earnings were slightly negative at -2.4%. Earnings estimates are expected to be $.03, but it is only covered by one analyst. Seems to be expensive.

other services
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$0.285
Owned Owned
No

Must be logged in to use chart
COMMENT
Photon Control(PHO-X) 

November 15, 2017

Their specialty is extremely precise temperature measurement when making semiconductor chips. They deal with 5 big guys in the world, and have now got new management. Cleaned up their capital structure. Have clients asking for designed-in operations. Trading at $1.66 and earnings are expected to be $.11 this year, so the stock is trading at roughly 16X earnings. That compares favourably, because earnings last year were $.05. They produce a very large amount of free cash flow. There are still great opportunities in semiconductors, particularly when looking at the Internet of Things. This appears to be cheap. Looks like it has clear sailing.

electrical/electronic

Their specialty is extremely precise temperature measurement when making semiconductor chips. They deal with 5 big guys in the world, and have now got new management. Cleaned up their capital structure. Have clients asking for designed-in operations. Trading at $1.66 and earnings are expected to be $.11 this year, so the stock is trading at roughly 16X earnings. That compares favourably, because earnings last year were $.05. They produce a very large amount of free cash flow. There are still great opportunities in semiconductors, particularly when looking at the Internet of Things. This appears to be cheap. Looks like it has clear sailing.

electrical/electronic
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$1.650
Owned Owned
No

Must be logged in to use chart
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