Latest Expert Opinions

Signal
Opinion
Expert
TOP PICK
TOP PICK
November 1, 2010
Properties in Quebec. Messed up in ’08 by cutting distributions twice. Were frozen out of the ’08 credit crisis. They are below 100% now. Thrown out like the baby with the bath water. It has to get funding to grow. The story has been disregarded, but now you have to take a fresh look at it. Trades at a discount. Slowly but surely it will recover.
Properties in Quebec. Messed up in ’08 by cutting distributions twice. Were frozen out of the ’08 credit crisis. They are below 100% now. Thrown out like the baby with the bath water. It has to get funding to grow. The story has been disregarded, but now you have to take a fresh look at it. Trades at a discount. Slowly but surely it will recover.
Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$0.770
Owned
Yes
TOP PICK
TOP PICK
November 1, 2010
8.4% yield. Ontario only. 40,000 more beds over the next 10 years. Can get CMHC funding. Getting 3% funding. Have to upgrade a lot of their retirement space to get funding. There is a huge barriers to new competitors.
8.4% yield. Ontario only. 40,000 more beds over the next 10 years. Can get CMHC funding. Getting 3% funding. Have to upgrade a lot of their retirement space to get funding. There is a huge barriers to new competitors.
Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$10.170
Owned
Yes
TOP PICK
TOP PICK
November 1, 2010
Bell Aliant 4.37% 09/13/2017 Bonds. Likes the stock but you get volatility. Not with the bond. 200 Basis point spread against Gov’t bonds.
Bell Aliant (BA-T)
November 1, 2010
Bell Aliant 4.37% 09/13/2017 Bonds. Likes the stock but you get volatility. Not with the bond. 200 Basis point spread against Gov’t bonds.
Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$27.640
Owned
Yes
PAST TOP PICK
PAST TOP PICK
November 1, 2010
(Top Pick Oct 6/09, Up 37.25%) Moving to 4 G and will not take a lot of spending. There is a very high chance of them increasing dividends or buying back stock. Balance sheet is under levered.
(Top Pick Oct 6/09, Up 37.25%) Moving to 4 G and will not take a lot of spending. There is a very high chance of them increasing dividends or buying back stock. Balance sheet is under levered.
Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$37.000
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
November 1, 2010
(Top Pick Oct 6/09, Up 51.44%)
(Top Pick Oct 6/09, Up 51.44%)
Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$10.000
Owned
Unknown
BUY
BUY
November 1, 2010
Are trying to beef up their weak asset management business. It is the right strategy. They trade a rich premium to global banks but there is a reason for that. They have a stable environment, with stable assets and growth opportunities. Should hike dividends. 8-10% of return including dividends. Assets are fully priced in.
Royal Bank (RY-T)
November 1, 2010
Are trying to beef up their weak asset management business. It is the right strategy. They trade a rich premium to global banks but there is a reason for that. They have a stable environment, with stable assets and growth opportunities. Should hike dividends. 8-10% of return including dividends. Assets are fully priced in.
Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$54.150
Owned
Unknown
WEAK BUY
WEAK BUY
November 1, 2010
A Fantastic company. An infrastructure play. They are all price premium. At the end of their stimulus packages but they have great backlogs. When stimulus dries up they will not have as many global orders as piers.
Aecon Group Inc (ARE-T)
November 1, 2010
A Fantastic company. An infrastructure play. They are all price premium. At the end of their stimulus packages but they have great backlogs. When stimulus dries up they will not have as many global orders as piers.
Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$12.150
Owned
Unknown