Latest Expert Opinions

Signal
Opinion
Expert
BUY
BUY
September 26, 2012

Looking at the overall oil sands activity, it is expected to double over the next 15 years and some of the beneficiaries of this are the pipelines. This company just did a new deal where they are getting more oil sands exposure, which is actually reducing the risk of the stock. Great 4.9% dividend. Relatively safe and growing.

Inter Pipeline (IPL-T)
September 26, 2012

Looking at the overall oil sands activity, it is expected to double over the next 15 years and some of the beneficiaries of this are the pipelines. This company just did a new deal where they are getting more oil sands exposure, which is actually reducing the risk of the stock. Great 4.9% dividend. Relatively safe and growing.

James Telfser
Partner & Portfolio Manager, Aventine Management Group
Price
$21.250
Owned
Yes
BUY
BUY
September 26, 2012

REITs have done well because the yield (versus the 10 year bond yield) is extremely attractive. Still a very attractive play. Overvalued relative to their historical valuation so he is watching very carefully.

REITs have done well because the yield (versus the 10 year bond yield) is extremely attractive. Still a very attractive play. Overvalued relative to their historical valuation so he is watching very carefully.

James Telfser
Partner & Portfolio Manager, Aventine Management Group
Price
$27.640
Owned
Unknown
HOLD
HOLD
September 26, 2012

Likes that this company can make very disciplined acquisitions and grow their convenience stores. Recently acquired Stad stores in Scandinavia which has brought an element of uncertainty to the company. This is the reason for the bit of selloff here. Prices they’re charging for tobacco are also hurting their same-store sales growth. Would look attractive in the mid to low $40’s.

Likes that this company can make very disciplined acquisitions and grow their convenience stores. Recently acquired Stad stores in Scandinavia which has brought an element of uncertainty to the company. This is the reason for the bit of selloff here. Prices they’re charging for tobacco are also hurting their same-store sales growth. Would look attractive in the mid to low $40’s.

James Telfser
Partner & Portfolio Manager, Aventine Management Group
Price
$44.950
Owned
Unknown
DON'T BUY
DON'T BUY
September 26, 2012

There is a big price war so margins keep coming down. In the last week or so, inventories have come down a little bit so there has been a slight pause. He finds value elsewhere.

Canfor Pulp Products (CFX-T)
September 26, 2012

There is a big price war so margins keep coming down. In the last week or so, inventories have come down a little bit so there has been a slight pause. He finds value elsewhere.

James Telfser
Partner & Portfolio Manager, Aventine Management Group
Price
$8.900
Owned
Unknown
DON'T BUY
DON'T BUY
September 26, 2012

Execution has been the real problem with this company. They keep pushing the BlackBerry 10 off but they are missing the key holiday season.

BlackBerry (BB-T)
September 26, 2012

Execution has been the real problem with this company. They keep pushing the BlackBerry 10 off but they are missing the key holiday season.

James Telfser
Partner & Portfolio Manager, Aventine Management Group
Price
$6.880
Owned
No
COMMENT
COMMENT
September 26, 2012

Really good production growth coming but at this point you are playing gold for the overall sector. US$ is being devalued, central banks are pumping money into the system and this bodes well for commodities. Silver and gold have done extremely well in the short term. He recommends the senior producers such as Goldcorp (G-T) or Barrick (ABX-T). This company is not far behind. It is harder for the smaller companies to raise money right now.

Iamgold Corp (IMG-T)
September 26, 2012

Really good production growth coming but at this point you are playing gold for the overall sector. US$ is being devalued, central banks are pumping money into the system and this bodes well for commodities. Silver and gold have done extremely well in the short term. He recommends the senior producers such as Goldcorp (G-T) or Barrick (ABX-T). This company is not far behind. It is harder for the smaller companies to raise money right now.

James Telfser
Partner & Portfolio Manager, Aventine Management Group
Price
$15.130
Owned
No
TOP PICK
TOP PICK
September 26, 2012

Oil sands have to push out further and further, which means they need people to have a place to stay while they are there. This company is expected to double over the next 2-3 years as far as the amount of beds that they need. Manufacture their own beds as compared to some of their competitors and they also rent them out. Trading at 10X next year’s earnings. ROE of close to 30%. Has a decent yield.

Oil sands have to push out further and further, which means they need people to have a place to stay while they are there. This company is expected to double over the next 2-3 years as far as the amount of beds that they need. Manufacture their own beds as compared to some of their competitors and they also rent them out. Trading at 10X next year’s earnings. ROE of close to 30%. Has a decent yield.

James Telfser
Partner & Portfolio Manager, Aventine Management Group
Price
$7.940
Owned
Yes