PAST TOP PICK
(A Top Pick April 7/05. Up 6%.) Likes this stock a lot and feels it has miles to go. Just grows and grows despite competition. Ususally tops out at 2.5 X book and is currently at 2 X book, so has about 25% to go.
DON'T BUY
His Fair Market Value is $41, so there is a little bit of upside potential. Doesn't particularily like the industry at this time.
DON'T BUY
The same as Nortel (NT-T). Too early to expect much out of that whole industry. Telecoms got quite overbuilt in 2000 and needs a lot of working out.
DON'T BUY
A really interesting stock. For 25 years, the stock has always bottomed at just about 2 X book value and it isn't very much above that price right now. The problem with this stock is that there is no particular driver for its Fair Market Value, so can't see what's going to push the stock much higher.
BUY
Has some work to do in turning around its US Ekard stores and getting them on the same level of profitability as its own stores. Reasonable upside potential, but it's a question as to when it really gets going. Not a bad holding. Probably a counter cyclical holding in a weak market, recessionary period.
WEAK BUY
Has set back to roughly 4 X book level. Lots of upside potential, but long term trading history shows this to be a very extended price to book high and as a consequence, feels the stock is having trouble getting going from current levels. Prefers owning oils which are cheaper.
DON'T BUY
Was looking at the steel industry, but missed its pull back, so didn't catch its bounce. After a rise of 25%, he's not going to chase it.
BUY
Has had a sort of minor technical breakout and has a nice potential. His Fair Market Value is greater than the current stock price.
BUY
Has lots of upside potential and on the P/E side it's ridiculous. Looks attractive.
DON'T BUY
Not sure how they will get rid of all their obligations. Currently they are trying to negotiate them with the unions, but the other choice is to go into Chapter 11. This would cause upheaval in the price of the bonds if you own them or the price of the stock.
DON'T BUY
Not sure how they will get rid of all their obligations. Currently they are trying to negotiate them with the unions, but the other choice is to go into Chapter 11. This would cause upheaval in the price of the bonds if you own them or the price of the stock.
HOLD
His Fair Market Value is up around $27/28 and the stock looks like it is basing at about 1.5 X book and has been for some little while.
DON'T BUY
Has lots going for it, but one thing it does not have going for it is any semblance of upside potential from his Fair Market Value point of view. Also, from a historical perspective, it is at a very, very extended price to book level. Expensive at the present time.
TOP PICK
Was kind of dragging its butt in the market compared to the index. Was running up hard against its old valuation high which was twice book and has now made its breakout. Compared to Imperial Oil (IMO-T) at 5 X book and Shell (SHC-T) at 4 X book, it's an absolute steal.
TOP PICK
Anticipated they were going to be a trust. Its intrinsic value was $66. He planned to sell off the trust portion and keep the exploration & development rump which is where the value was. Company couldn't do it, so he is going to sit on it.