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Michael Sprung
President at Sprung Investment Management
Member since: Oct '00 · 4229 Opinions
Rating Card
| All | 
Rating
| 
Big Win
| 
Win
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Neutral
| 
Loss
| 
Big Loss
|  |
|---|---|---|---|---|---|---|---|
| 3.83 | 167 20.93% | 198 24.81% | 108 13.53% | 188 23.56% | 137 17.17% | ||
| 1 Month | 4.19 | 8 4.32% | 56 30.27% | 58 31.35% | 59 31.89% | 4 2.16% | |
| 6 Months | 2.98 | 23 12.71% | 55 30.39% | 21 11.60% | 53 29.28% | 29 16.02% | |
| 12 Months | 3.04 | 40 22.86% | 35 20.00% | 17 9.71% | 43 24.57% | 40 22.86% | |
| 2 Years | 4.57 | 47 30.52% | 38 24.68% | 8 5.19% | 24 15.58% | 37 24.03% | |
| 5 Years | 4.36 | 49 47.57% | 14 13.59% | 4 3.88% | 9 8.74% | 27 26.21% |
Stock Opinions by Michael Sprung
Definitely. Multiples are extremely high relative to historic norms. We've had a few stocks driving the markets the last few years. Great market last year where returns were quite high, and another one this year. People should really be looking for quality companies, ones with very good financials and businesses that can withstand a bit of backup in consumer spending and other spending.
Overall, people should be a bit wary. As well, threats of tariffs recently would be somewhat inflationary. That could really put a pause on interest rate declines. Consumer debt in Canada is at all-time highs.
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Unknown
He can't remember two years back to back like this. It's really been exceptional. We had the dotcom boom back in the 1990s, and the real estate boom, but they didn't drive markets anywhere near to what we're seeing today.
Seeing stocks like TSLA with multiples around 170x, and NVDA at 54x or so. It's pretty extraordinary that people are willing to pay that many years forward to acquire an interest in a company.
Came back from the dead to do extraordinarily well. Great environment for engineering and similar services. Nuclear division has also been a lot in the spotlight. ROE is ~10%. PE's of all these companies are getting up around 40x trailing earnings. Rather fully priced. Very good exposure to the US, and the USD is strong and likely to remain so for a while.
In a trade war, services may not be as badly affected as some products, so these companies could be somewhat of a haven.
Great environment for engineering and similar services. ROE is ~13%. PE's of all these companies are getting up around 40x trailing earnings. Rather fully priced. Very good exposure to the US, and the USD is strong and likely to remain so for a while.
In a trade war, services may not be as badly affected as some products, so these companies could be somewhat of a haven.
It's gotten past a lot of its old, fixed-price contracts that really hurt the company for a number of years. ROE is ~9%, at a much lower price-to-book ratio than others. Getting a lot of contracts lately. Prefers this in the space, despite its small $2B market cap.
In the spotlight recently because trade wars and tariffs could impact the volumes being taken to the US by quite a bit. ROE tends to be more profitable than CP, but you're paying close to twice the price-to-book. Prefers CP, as its merger with Kansas City has opened up a whole new area.
He'd be looking south of the border instead.
In the spotlight recently because trade wars and tariffs could impact the volumes being taken to the US by quite a bit. Lower ROE than CNR, but cheaper. Prefers CP to CNR, as its merger with Kansas City has opened up a whole new area.
Valuation looks rather expensive. If you own, don't sell. Capitalizing on movement to greater private enterprise in space. Gaining a lot of business. Some engineers he knows think a lot of this company, and that its products and services are critical components of the space race.
One of his primary holdings in the energy sector. He's fairly bullish on energy, particularly oil & gas. Great company.
On tariffs, Canada has an advantage because we provide a lot of oil and gas to the US, as well as electricity. This supply is critical to the US, so it's a good negotiating chip. Believes that, at the end of the day, our energy companies will be a bit more insulated than first feared when tariffs came up.
Tariffs would be extremely inflationary, and that's something Trump is trying to avoid. But slapping tariffs on everything doesn't seem to worry him too much. The threat of tariffs is a negotiating ploy.
Very much technology-driven in have-to-have services in accounting, law, and other areas. Gaining penetration in its industries. Problem now is the high multiple, has become more like a growth stock. Better places to look.
It never hurts to take a profit, because you never really make money until you actually realize it. Overall, he's cautious on markets. When markets fall, they often throw the baby out with the bathwater; good companies go down, but perhaps not as much as the high flyers.
Provides an opportunity. Extremely well managed. Very integrated into auto manufacturing, as is MG. Multiple is slightly less than MG's. Hold for the long term.
Parts go back and forth over the border so often, not sure how you'd keep track of the tariffs. Both Trump and Canada see auto parts as important to the US. Wouldn't be surprised if affected by tariffs less than other industries.
PE higher than that of LNR. Integral to the NA auto parts business. Parts go back and forth over the border so often, not sure how you'd keep track of the tariffs. Both Trump and Canada see auto parts as important to the US. Wouldn't be surprised if affected by tariffs less than other industries.
One of his primary holdings right now in the mining sector. Well positioned, given the demand for copper being what it is. Last quarter was probably one of their best ever. Gold production was better than hoped. A good place to look if you want a mid-cap mining company.
Still likes it. New CEO seems to have made good moves in terms of cost control and tightening operations. Capital markets doing really well, credit looks more stable, earnings up substantially. Good execution, strategic direction coming together.
