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Curated by Michael O'Reilly since 2020
1550+ opinions with 4.81 rating (one of the best performing expert)

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Stock Opinions by Michael Sprung

COMMENT

Inflation and rising rates continue to preoccupy investors. Markets are volatile as investors react to changing economic data and will continue to be. The pandemic's impact on global supply chains continues as well as rising geopolitical. Interest rates are unlikely to pull back anytime while a recession remains possible--can't predict its duration or depth.

Unknown
BUY
Big 6 Canadian banks in the coming year

Offer good value now. Multiples are still past book value, but not 2x+. Also, they pay attractive yields. Our banking system differs from the US which has many regionals. He owns individual banks, not ETFs.

E.T.F.'s
BUY
Trisura Group

An insurance company. P&C insurance benefits from yearly renewable contracts. TSU is in a good position.

0
COMMENT
Brookfield Corp
Recently defaulted on an LA office property, but without impact. Why?

The value of commercial property is down so much these days that owners like Brookfield just walk away from them--not worth renewing the lease--but it won't impact the company much.

investment companies / funds
BUY
TC Energy

It's been punished a lot recently given cost overruns on their projects. But the yield is attractive. Over the next year you can buy this.

oil / gas pipelines
DON'T BUY
Magna Int'l. (A)

They participate in assembling EVs, but will be hit by inflation in raw costs and wages. This will constrain them and profits.

Automotive
BUY
Cenovus Energy

They hiked their dividend over 30% last quarter. Trades at a decent PE, 7.5x. Pays a 2.5% dividend. 

oil / gas
BUY ON WEAKNESS
Nutrien Ltd.

Has fallen below $100, so it's now attractive. There'll be large demand for fertilizer ahead, and it will replace what comes out of Russia.

agriculture
BUY
Manulife Financial

Has been a top pick of his many times. Insurers report in the coming week and it will be a confusing quarter, because there are new reporting/accounting rules that will make earnings appear lower. SLF and Industrial Alliance have more weighting in Asia than MFC, so MFC might be less stable. Likes MFC. Pays a 5.4% dividend yield.

insurance
PAST TOP PICK
Citigroup Inc.
(A Top Pick Apr 27/22, Down 2%)

The large US banks are holding their own, far better than the regionals. Citi is one of the most geographically diverse banks around which offers safety. Still likes it. Pays a 4.4% dividend and trades around 6.5x PE. Trades at a big discount to book value.

banks
PAST TOP PICK
Hudbay Minerals
(A Top Pick Apr 27/22, Down 17%)

Still hoping for a boom in copper prices as China reopens and from EV demand. They bought Copper Mountain, and have gained permits via Copper World. Two potential tailwinds. HBM can't remain this cheap and must rise. 

precious metals
PAST TOP PICK
(A Top Pick Apr 27/22, Up 11%)

Have performed strongly in Canada. Margins are improving. Have passed on higher costs to customers. Have paid off a lot of debt in recent years. Trades at 11x PE. Not a dividend stock, and still likes it.

machinery
COMMENT
Parkland Fuel Corp

They have a junk debt rating. But is well-run, trades around 11-12x PE, and pays over a 4% dividend. Are positioned well in their markets and have been  making smart purchases over the years. Now, he'd like them to pause that, grow organically, pay down debt and raise margins.

merchandising / lodging
PARTIAL BUY
Royal Bank

A major position of his. It has regained its premium valuation at 1.9x book. Dividend pays below 4%. A very stable, well-diversified bank (commercials and consumer segments). That said, a few other names offer slightly better value like BNS and CIBC.

banks
BUY ON WEAKNESS
Intact Financial

Well-run and has done well in recent years, but it needs to be cheaper before he buys it. P&C insurance is a good business to be in now.

insurance
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