Stock Opinions by Laura Wallace - Stockchase Experts
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Laura Wallace

On Stockchase since : Mar 2001

Managing Director at Coleford Investment Management

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Stock Opinions by Laura Wallace - Stockchase Experts

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General Market Comment 

February 7, 2013

Markets. The TSX is 15% below its all time high.  Thinks there are some good signs in terms of economic growth and the US is in a better position than a year ago. Europe continues along a path and the longer that happens the less chance of a Lehman-style event.  TSX performance is below the US the most in 40 years.  It depends on commodities.  Outlook for oil is decent based on Chinese growth.  The oil price spreads are so large that we don’t get the benefit.  Thinks the situation will resolve. 

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Markets. The TSX is 15% below its all time high.  Thinks there are some good signs in terms of economic growth and the US is in a better position than a year ago. Europe continues along a path and the longer that happens the less chance of a Lehman-style event.  TSX performance is below the US the most in 40 years.  It depends on commodities.  Outlook for oil is decent based on Chinese growth.  The oil price spreads are so large that we don’t get the benefit.  Thinks the situation will resolve. 

Unknown
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$0.020
Owned Owned
_N/A

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BUY
Manulife Financial(MFC-T) 

February 7, 2013

They have reduced their exposure to both equity and fixed income markets.  May be fully valued today but medium to long term there is some good money to be made.  Good exposure to Asia.  Argues for stronger growth. 

insurance
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They have reduced their exposure to both equity and fixed income markets.  May be fully valued today but medium to long term there is some good money to be made.  Good exposure to Asia.  Argues for stronger growth. 

insurance
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$14.550
Owned Owned
Unknown

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DON'T BUY

Fairly attractive on a fundamental level. Global.  A decent investment but this whole corruption scandal will distract management so you can go other places in the meantime.  Not sure what will move it to the next level.

contractors
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Fairly attractive on a fundamental level. Global.  A decent investment but this whole corruption scandal will distract management so you can go other places in the meantime.  Not sure what will move it to the next level.

contractors
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$47.490
Owned Owned
Unknown

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BUY

Short term price moves are hard to forecast.  Pullback on the earnings forecast is hard to predict the outcome of.  Most recent releases from China indicate TCK is well positioned. If you have a 1-3 year time horizon then it is good value here.  Buy now and enjoy the 2.6% dividend yield.

precious metals
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Short term price moves are hard to forecast.  Pullback on the earnings forecast is hard to predict the outcome of.  Most recent releases from China indicate TCK is well positioned. If you have a 1-3 year time horizon then it is good value here.  Buy now and enjoy the 2.6% dividend yield.

precious metals
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$34.450
Owned Owned
Unknown

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BUY
Telus Corp(T-T) 

February 7, 2013

Combining voting and no-voting shares will not affect the dividend.  Collapsing it will be positive and will increase liquidity. 

telephone utilities
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Combining voting and no-voting shares will not affect the dividend.  Collapsing it will be positive and will increase liquidity. 

telephone utilities
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$67.010
Owned Owned
Unknown

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BUY
Loblaw Companies Ltd(L-T) 

February 7, 2013

Weston is the parent of Loblaw’s.  She prefers the pure plays and L-T is the pure play.  They are unlocking the value in their real estate and that is giving a kick to the stock.  She is concerned about what Target will do to the landscape and to L-T.  She thinks it is a fairly safe company although not going to provide a great return.  She would not be opposed to taking a little profit here.  We do know Target will be launching this year with aggressive pricing strategies.

food stores
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Weston is the parent of Loblaw’s.  She prefers the pure plays and L-T is the pure play.  They are unlocking the value in their real estate and that is giving a kick to the stock.  She is concerned about what Target will do to the landscape and to L-T.  She thinks it is a fairly safe company although not going to provide a great return.  She would not be opposed to taking a little profit here.  We do know Target will be launching this year with aggressive pricing strategies.

food stores
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$40.850
Owned Owned
Unknown

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BUY on WEAKNESS
LuLulemon Athletica(LLL-T) 

February 7, 2013

Adores the product.  Lots of room for expansion.  Men like it too.  Her problem with the stock is that there is no room for a mistake at these multiples.  Great company and product but risky because it can’t have a miss-step.  Down 10-15% from here would make it attractive.

clothing stores
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Adores the product.  Lots of room for expansion.  Men like it too.  Her problem with the stock is that there is no room for a mistake at these multiples.  Great company and product but risky because it can’t have a miss-step.  Down 10-15% from here would make it attractive.

clothing stores
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$67.560
Owned Owned
Unknown

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BUY
Encana Corp(ECA-T) 

February 7, 2013

Doing a joint venture with China and will put it in a better position.  She likes it here and it is a good entry point.

oil/gas
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Doing a joint venture with China and will put it in a better position.  She likes it here and it is a good entry point.

oil/gas
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$19.280
Owned Owned
Yes

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DON'T BUY
TorstarCorp (B)(TS.B-T) 

February 7, 2013

6.1% is an attractive yield but gives her concern.  They are adjusting to the digital world but it is too soon to know and there are better places.

publishing/printing
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6.1% is an attractive yield but gives her concern.  They are adjusting to the digital world but it is too soon to know and there are better places.

publishing/printing
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$7.950
Owned Owned
Unknown

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BUY
Goldcorp Inc(G-T) 

February 7, 2013

(Market Call Minute) Great growth profile.

precious metals
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(Market Call Minute) Great growth profile.

precious metals
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$36.060
Owned Owned
Yes

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HOLD
BlackBerry(BB-T) 

February 7, 2013

(Market Call Minute) Not clear the new phone is the game changer they need.

electrical/electronic
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(Market Call Minute) Not clear the new phone is the game changer they need.

electrical/electronic
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$16.910
Owned Owned
Unknown

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HOLD

(Market Call Minute) May see an activist investor come back at this company which might be the opportunity to make money.

integrated mines
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(Market Call Minute) May see an activist investor come back at this company which might be the opportunity to make money.

integrated mines
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$42.000
Owned Owned
Yes

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BUY
Toronto Dominion(TD-T) 

February 7, 2013

(Market Call Minute) Yield is attractive and sees dividend increases at the end of the year.

banks
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(Market Call Minute) Yield is attractive and sees dividend increases at the end of the year.

banks
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$82.860
Owned Owned
Unknown

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HOLD

(Market Call Minute) Deals it is doing with Rogers are putting it into an attractive position to be a takeout candidate/merger by Rogers.  Thinks this is positive.

Cable
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(Market Call Minute) Deals it is doing with Rogers are putting it into an attractive position to be a takeout candidate/merger by Rogers.  Thinks this is positive.

Cable
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$23.600
Owned Owned
Yes

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PAST TOP PICK
Cenovus Energy(CVE-T) 

February 7, 2013

(Top Pick Jan 12/12, Down 0.79%)  Did well compared to the rest of the group.  Still likes and owns it.  Low risk, high quality and thinks it will be a success story in 3-5 years.  A great investment here. 

oil/gas
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(Top Pick Jan 12/12, Down 0.79%)  Did well compared to the rest of the group.  Still likes and owns it.  Low risk, high quality and thinks it will be a success story in 3-5 years.  A great investment here. 

oil/gas
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Laura Wallace

Managing D, Coleford Investment ...

Price Price
$32.900
Owned Owned
Yes

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