Michael Sprung
Member since: Oct '00
President at
Sprung Investment Management

Latest Top Picks

(A Top Pick Aug 22/18, Down 3%) He continues to own and recommend it. We have seen some of the banks pull back in the last little while. It is trading between 1.3 and 1.4 times book. Their south American exposure slowed them down a bit. They are a well capitalized bank. He would continue to recommend it.
(A Top Pick Aug 22/18, Down 27%) Even the heavy weights have reflected the environment they are in. It is still solidly producing positive cash flow.
(A Top Pick Aug 22/18, Up 10%) They also have the bakery side of the business where they have invested a lot into the business. A lot of it depends on L-T plus exposure to CHP.UN-T. He would highly recommend it at $100. They are the dominant player in the Canadian grocery business.
They recently had a major setback in the permitting of the Rosemont mine. At these levels this stock is down and out for the count, but they would be good long term. They are going to survive but have suffered as of late.
They surprised everybody in the last quarter with earnings. You get over 5.5% yield. The valuation of this banks is out of kilter with the other banks. People are concerned that they are too Canada-centric. At this price it is his Top Pick. It is a screaming buy at $100. (Analysts’ price target is $110.94)