Opinions by John Zechner | StockChase
2886
John Zechner

Chairman

ON STOCKCHASE SINCE Jan 2001

J. Zechner & Assoc


Opinions by John Zechner


Signal Opinion Expert Chart

2017-11-06

N/A
A Comment -- General Comments From an Expert 

Market.There has been a recovery in the global economy. The European economy has been better than expected. China's growth has been relatively strong. Japan came in much better than expected. Some of the emerging economies are doing much better. The US economy is not that much different than it was prior to the US election. The market has continued to anticipate all the good news and have paid for it in advance. People are more bullish than they have been in 30 years. We are clearly late in the cycle, and he doesn't know how much is left. The market is still rocking and rolling to the upside, and it's hard to get in the way of it.

John Zechner

Chairman, J. Zechner & Assoc

Price: $0.020
Owned: _N/A

Must be logged in to use chart

2017-11-06

COMMENT
Blackstone Group LP (BX-N)

(Market Call Minute). Has played this in the past but it is pretty opaque as to what you own. You don't know what the assets are.

investment companies/funds
John Zechner

Chairman, J. Zechner & Assoc

Price: $33.030
Owned: No

Must be logged in to use chart

2017-11-06

PAST TOP PICK
Caterpillar (CAT-N)

(A Top Pick Nov 16/16. Down 52%.) *Short* At the time, this was trading at over 30 times earnings, with basically 3 years of down earnings. It was trading at a ridiculously high multiple. They missed on the past 5 quarters, and the stock had run up on the idea that Donald Trump was going to build the wall using thousands of Caterpillar tractors. He underestimated the global recovery, which helped sales. On top of that, they operationally improved their margins to such a degree that earnings recovery has grown through the estimates in the last three quarters. Has shorted again recently because, although a good story, it is trading at 25X what he thinks will be their peak earnings.

machinery
John Zechner

Chairman, J. Zechner & Assoc

Price: $137.710
Owned: Yes

Must be logged in to use chart

2017-11-06

PARTIAL SELL
Cineplex Inc (CGX-T)

Expects there will be a little more tax loss selling on this. Hasn't owned this for years and years because he finds the valuation is too high for its growth profile. Big blockbuster movies will come and go, which will give you kind of a lumpy earnings. They are trying to diversify a little into related businesses. There are a lot of cheaper plays in media.

other services
John Zechner

Chairman, J. Zechner & Assoc

Price: $38.460
Owned: No

Must be logged in to use chart

2017-11-06

PARTIAL SELL
Canadian Natural Rsrcs (CNQ-T)

The analysts and investors love this because of the size and growth. The Horizon project has done well. The stock has continued to do well, but he worries a little that Shell is going to come out on a short-term basis. He would be more inclined to take money out of this rather than buying. The valuation is a little more expensive than it is on juniors.

oil/gas
John Zechner

Chairman, J. Zechner & Assoc

Price: $46.740
Owned: Unknown

Must be logged in to use chart

2017-11-06

COMMENT
Crescent Point Energy Corp (CPG-T)

He still likes this. It’s been one of the worst performers. What was off with them was the amount of equity they raised over a period of time, and they flooded the market. They have a very good land base with good drilling opportunities. Cash flow has been relatively strong. He's been adding to his holdings recently.

oil/gas
John Zechner

Chairman, J. Zechner & Assoc

Price: $11.250
Owned: Yes

Must be logged in to use chart

2017-11-06

DON'T BUY
CSX Corp (CSX-Q)

(Market Call Minute). For Hunter Harrison, 2 out of 3 isn't bad, and doesn't think he can do the same thing for this rail. The markets are already paying up for what he can do with this company. He would own Canadian Pacific (CP-T) instead, which is cheaper and still has a growth story.

Transportation
John Zechner

Chairman, J. Zechner & Assoc

Price: $51.150
Owned: Unknown

Must be logged in to use chart

2017-11-06

PARTIAL SELL
Cenovus Energy (CVE-T)

He would be inclined to take a little profit. This company rolled the dice, and it looks like it is going to pay off for them. They still have some issues in that they have to sell off some assets, and there is a chance that the pop we are seeing in the oil price may not necessarily last. He would be inclined to take a little profit.

oil/gas
John Zechner

Chairman, J. Zechner & Assoc

Price: $14.270
Owned: Unknown

Must be logged in to use chart

2017-11-06

PAST TOP PICK
DHX Media (DHX.B-T)

(A Top Pick Nov 16/16. Down 42%.) This surprised him. Content is king in media. And what is really good is kids content. It will last forever. If you added up its current transactions, you could easily get a $15-$20 valuation. However, in this case, the company just couldn't execute. Sold this after the last quarter.

other services
John Zechner

Chairman, J. Zechner & Assoc

Price: $4.000
Owned: No

Must be logged in to use chart

2017-11-06

COMMENT
Enbridge (ENB-T)

Hasn't liked this for a while. It's not a problem with the company as much as it is with the valuation. All utilities had valuations of around 20X earnings. That was because of the dividend yield. This one has a 225 estimate of earnings, and they pay a dividend of 225. They are paying out all their earnings as dividends. On top of that, when they did the recent US acquisition, they really levered up the balance sheet. The Debt to Operating Cash Flow ratios is about 6 or 7 times. There's not much organic growth.

oil/gas pipelines
John Zechner

Chairman, J. Zechner & Assoc

Price: $46.800
Owned: Unknown

Must be logged in to use chart

2017-11-06

HOLD
Facebook (FB-Q)

Mark Zuckerberg seems less concerned with expenses rising in the short term. When they went public, they had zero mobile advertising revenue, and in the last quarter about 80% of their revenue was from mobile advertising. They and Google (GOOG-Q) own that market. They've monetized their base fantastically. Still a good, long term hold.

John Zechner

Chairman, J. Zechner & Assoc

Price: $180.170
Owned: Yes

Must be logged in to use chart

2017-11-06

HOLD
Freeport McMoran Copper & Gold (FCX-N)

Copper markets have had a great move this year. This has some gold, but mostly copper and a lot of oil. The balance sheet got very stretched. They've done a great job of paying down debt. Looking in better shape than they have for a long time. Thinks there is still upside to go.

non-base metal mining
John Zechner

Chairman, J. Zechner & Assoc

Price: $14.640
Owned: Unknown

Must be logged in to use chart

2017-11-06

TOP PICK
Alphabet Inc (C) (GOOG-Q)

This one is a long-term hold. This and Facebook (FB-Q) own mobile advertising. They have the whole data management and derivative side. The android operating system, which they give away, runs over 60% of the world's mobile devices. That's a huge monetization value.  (Analysts' Price Target is $1,100.00.)

Business Services
John Zechner

Chairman, J. Zechner & Assoc

Price: $1025.900
Owned: Yes

Must be logged in to use chart

2017-11-06

TOP PICK
Hudson Bay Co. (HBC-T)

This is basically about the real estate. A controversial call, as the company is bleeding cash and they have high debt, so why would you own it. Their land and buildings are going to start to push the button a little, to get the difference between what it is trading at and what the real estate value is. Dividend yield of 0.4%. (Analysts' price target is $13.75.)

department stores
John Zechner

Chairman, J. Zechner & Assoc

Price: $11.950
Owned: Yes

Must be logged in to use chart

2017-11-06

COMMENT
Maxar Technologies (MAXR-T)

The last acquisition they did was excellent. They've struggled recently, but have focused more on the global satellite market. They are almost moulding the hardware and the software of the global GPS satellites. There are lots of commercial applications coming on in industrial applications, as well as government. Trading at a big discount to comparable companies in the same areas of defence, military and satellites.

computer software/processing
John Zechner

Chairman, J. Zechner & Assoc

Price: $79.000
Owned: Yes

Must be logged in to use chart
Showing 1 to 15 of 2,872 entries
<< < 1 2 3 4 5 > >>

No Comments.


You must be logged in to comment.

Successfully Saved Company