Stock Opinions by Michael Smedley - Stockchase Experts
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Michael Smedley @

On Stockchase since : Aug 2001

Exec VP & Chief Investment Officer at Morgan Meighan & Associates

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Stock Opinions by Michael Smedley - Stockchase Experts

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General Market Comment 

January 18, 2018

Market. The markets are extremely strong. It's a dangerous game, and he is always ready for a correction. US banks ought to be able to stay out of a crisis mode, because they've been there. Commodities are making nice moves. Oil and gas is looking strong. He sees no real problems on the horizon.

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Market. The markets are extremely strong. It's a dangerous game, and he is always ready for a correction. US banks ought to be able to stay out of a crisis mode, because they've been there. Commodities are making nice moves. Oil and gas is looking strong. He sees no real problems on the horizon.

Unknown
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$0.020
Owned Owned
_N/A

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COMMENT
Shopify Inc.(SHOP-T) 

January 18, 2018

An amazing platforming company, helping greenhorns and others in getting into the marketing game. A splendid generation of green Internet usage. There are no earnings, and there is a tendency to say that if you've actually got it, it would probably be prudent to take a 3rd of your holdings out. If you don't have it, you would be speculating. He would prefer something that is not trading this high.

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An amazing platforming company, helping greenhorns and others in getting into the marketing game. A splendid generation of green Internet usage. There are no earnings, and there is a tendency to say that if you've actually got it, it would probably be prudent to take a 3rd of your holdings out. If you don't have it, you would be speculating. He would prefer something that is not trading this high.

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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$142.550
Owned Owned
No

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BUY
BTL Group Ltd.(BTL-X) 

January 18, 2018

He bought this at $2, because it was the only thing he could buy in the blockchain sector a year ago. It’s been as high as $18, but is back down to $11.50. This is an understating kind of company. You have to dig into it, and you find that they have got very, very cool leadership, a very strong background in major technology companies who know what they are doing. They’re currently building and expanding a network of platform users. They have strength in Europe and have a UK office. It appears to be stronger than it is even telling us. He would buy more at this point.

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He bought this at $2, because it was the only thing he could buy in the blockchain sector a year ago. It’s been as high as $18, but is back down to $11.50. This is an understating kind of company. You have to dig into it, and you find that they have got very, very cool leadership, a very strong background in major technology companies who know what they are doing. They’re currently building and expanding a network of platform users. They have strength in Europe and have a UK office. It appears to be stronger than it is even telling us. He would buy more at this point.

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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$11.500
Owned Owned
Yes

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HOLD

Provides a camera-less type of scanning, low frequency radar, used for concealed weapon detection in malls, buildings, etc. Has a few clients set up already. It has to be installed. It can deal with crowds and unusual amounts of weaponry. You have to be patient and not expect the dollars coming in every month.

Technology
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Provides a camera-less type of scanning, low frequency radar, used for concealed weapon detection in malls, buildings, etc. Has a few clients set up already. It has to be installed. It can deal with crowds and unusual amounts of weaponry. You have to be patient and not expect the dollars coming in every month.

Technology
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$1.530
Owned Owned
Yes

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COMMENT

Recently did a debt issuance, a little odd in that it was diluted and didn't reduce the debt much. If people know there is an issue coming, it tends not to do well. He likes that this company has world beating, historic competence in high-end nickel technology. Has a sense that the high-end they are capable of is something that can actually reduce the cobalt content in a battery. Trading at $1.30. With a very, very big portion of their debt solved, they have been taken down from 30% to 12% of Ambatovy. They’re still strong in Cuba. Also has nickel and cobalt in both places.

integrated mines
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Recently did a debt issuance, a little odd in that it was diluted and didn't reduce the debt much. If people know there is an issue coming, it tends not to do well. He likes that this company has world beating, historic competence in high-end nickel technology. Has a sense that the high-end they are capable of is something that can actually reduce the cobalt content in a battery. Trading at $1.30. With a very, very big portion of their debt solved, they have been taken down from 30% to 12% of Ambatovy. They’re still strong in Cuba. Also has nickel and cobalt in both places.

integrated mines
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$1.310
Owned Owned
Unknown

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COMMENT

The closest thing to the old-fashioned majors we used to have, in copper. Has a huge cash flow and the debt is under control. The mines are probably not the best, but are good enough, particularly in an environment where copper supply is getting critical. This company should stay strong, but you are going to see it trade like anything else. If the metal situation weakens, you might get it moving down a bit more. This is your best in Canada.

precious metals
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The closest thing to the old-fashioned majors we used to have, in copper. Has a huge cash flow and the debt is under control. The mines are probably not the best, but are good enough, particularly in an environment where copper supply is getting critical. This company should stay strong, but you are going to see it trade like anything else. If the metal situation weakens, you might get it moving down a bit more. This is your best in Canada.

precious metals
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$36.270
Owned Owned
Unknown

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COMMENT

This was brilliant in the beginning, under different management, then it became a real downer and he is waiting to see it become seasoned in its separated roles.

other services
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This was brilliant in the beginning, under different management, then it became a real downer and he is waiting to see it become seasoned in its separated roles.

other services
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$0.140
Owned Owned
Yes

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PAST TOP PICK

(A Top Pick July 14/17. Up 5%.) Of all things in Fairfax, this one appeals to him. It gives the ordinary investor a way of getting into India. Also gives them a way of getting into a hands-on situation. Not just a portfolio of Indian stocks, but part of a creation/transformation of companies with some leaning towards environmental satisfying things. You need patience. When dealing with Prem Watsa, you know that you are dealing long-term with something like this. The stock is off a bit at the moment. Not a lot of interest in it.

E.T.F.'s
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(A Top Pick July 14/17. Up 5%.) Of all things in Fairfax, this one appeals to him. It gives the ordinary investor a way of getting into India. Also gives them a way of getting into a hands-on situation. Not just a portfolio of Indian stocks, but part of a creation/transformation of companies with some leaning towards environmental satisfying things. You need patience. When dealing with Prem Watsa, you know that you are dealing long-term with something like this. The stock is off a bit at the moment. Not a lot of interest in it.

E.T.F.'s
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$17.860
Owned Owned
Yes

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PAST TOP PICK
Katanga Mining Ltd.(KAT-T) 

January 18, 2018

(A Top Pick July 14/17. Up 160%.) The ultimate listed cobalt stock, and always has been. It's in the Congo, and is utterly controlled by Glencore (GLEN-LN). The operational side is in order, and there has been a recent tendency for people to inflate cobalt stocks in general.

metal mines
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(A Top Pick July 14/17. Up 160%.) The ultimate listed cobalt stock, and always has been. It's in the Congo, and is utterly controlled by Glencore (GLEN-LN). The operational side is in order, and there has been a recent tendency for people to inflate cobalt stocks in general.

metal mines
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$2.110
Owned Owned
Yes

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PAST TOP PICK
CPI Card Group Inc.(PMTS-T) 

January 18, 2018

(A Top Pick July 14/17. Down 78%.) This is not the credit cards of the banks, it is the cards that retail organizations use. There seems to be a downer going on in that business at the moment. The company just eliminated the dividend. They are the leaders, and have been 30 years in the business

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(A Top Pick July 14/17. Down 78%.) This is not the credit cards of the banks, it is the cards that retail organizations use. There seems to be a downer going on in that business at the moment. The company just eliminated the dividend. They are the leaders, and have been 30 years in the business

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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$4.270
Owned Owned
No

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COMMENT

This has been very steady and doing quite well. It doesn't get seriously bad. Well supported and has strong backing. Has a nice dividend. Well run.

breweries/beverages
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This has been very steady and doing quite well. It doesn't get seriously bad. Well supported and has strong backing. Has a nice dividend. Well run.

breweries/beverages
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$22.230
Owned Owned
Yes

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BUY
Enbridge(ENB-T) 

January 18, 2018

Probably a Buy, unless interest rates start accelerating. He would certainly feel it is a long-term hold. As long as you don't need your capital in the next 5 years, then you are going to earn money that you can't possibly earn in the banks. A very strongly backed company. 7.8% dividend yield.

oil/gas pipelines
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Probably a Buy, unless interest rates start accelerating. He would certainly feel it is a long-term hold. As long as you don't need your capital in the next 5 years, then you are going to earn money that you can't possibly earn in the banks. A very strongly backed company. 7.8% dividend yield.

oil/gas pipelines
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$49.380
Owned Owned
Unknown

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HOLD

The is in the $70s, and there are forecasts out to the $90s. Has a strong US following. There were very strong growth numbers reported. It is probably forecasting better growth than it has done in times past.

household goods
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The is in the $70s, and there are forecasts out to the $90s. Has a strong US following. There were very strong growth numbers reported. It is probably forecasting better growth than it has done in times past.

household goods
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$77.570
Owned Owned
Unknown

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BUY
BCE Inc.(BCE-T) 

January 18, 2018

This is probably preferred, as compared to pipelines, as there is nothing particularly controversial or problematic. It has done rather well. To him, this has to be part of a core portfolio.

telephone utilities
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This is probably preferred, as compared to pipelines, as there is nothing particularly controversial or problematic. It has done rather well. To him, this has to be part of a core portfolio.

telephone utilities
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$57.800
Owned Owned
Yes

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COMMENT
Savaria Corp(SIS-T) 

January 18, 2018

It should continue going up, because it is kind of being discovered. It has come into the market, and people are getting to know it. It is your ultimate in Canada listed wheelchair/stair lifts. A very strong company.

other services
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It should continue going up, because it is kind of being discovered. It has come into the market, and people are getting to know it. It is your ultimate in Canada listed wheelchair/stair lifts. A very strong company.

other services
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$18.610
Owned Owned
Unknown

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