Latest Expert Opinions

Signal
Opinion
Expert
HOLD
HOLD
August 6, 2013

Telcos were dropping well before the worry about Verizon (VZ-N) coming into Canada. Although he owns all 3 telcos, he would feel that Rogers (RCI.B-T) and Bell (BCE-T) are much more attractive. He thinks what is missing from this company are the other assets. This one is primarily wireless. They are trying to push into TV and this has put them at a disadvantage.

Telus Corp (T-T)
August 6, 2013

Telcos were dropping well before the worry about Verizon (VZ-N) coming into Canada. Although he owns all 3 telcos, he would feel that Rogers (RCI.B-T) and Bell (BCE-T) are much more attractive. He thinks what is missing from this company are the other assets. This one is primarily wireless. They are trying to push into TV and this has put them at a disadvantage.

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$31.320
Owned
Yes
BUY
BUY
August 6, 2013

Feels the valuation on this company is still quite attractive and he is buying for his clients. Thinks there are some options for a number of these companies. Now that it has acquired Astral there is potential for them to unlock shareholder value by spinning out the media division.

BCE Inc. (BCE-T)
August 6, 2013

Feels the valuation on this company is still quite attractive and he is buying for his clients. Thinks there are some options for a number of these companies. Now that it has acquired Astral there is potential for them to unlock shareholder value by spinning out the media division.

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$42.550
Owned
Yes
DON'T BUY
DON'T BUY
August 6, 2013

Visa (V-N) or MasterCard (MC-N) and what would be a true market value for Visa? Don’t look at the price of the stock, look at the valuation. Price doesn’t matter, it’s all about value. Feels both are priced to perfection. They are wonderful monopolies, with much more growth to happen, especially in emerging markets and he would buy them in a heartbeat if they fell 25%. At 20X earnings, you are paying way too much.

Visa Inc. (V-N)
August 6, 2013

Visa (V-N) or MasterCard (MC-N) and what would be a true market value for Visa? Don’t look at the price of the stock, look at the valuation. Price doesn’t matter, it’s all about value. Feels both are priced to perfection. They are wonderful monopolies, with much more growth to happen, especially in emerging markets and he would buy them in a heartbeat if they fell 25%. At 20X earnings, you are paying way too much.

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$182.890
Owned
Unknown
DON'T BUY
DON'T BUY
August 6, 2013

Visa (V-N) or MasterCard (MC-N) and what would be a true market value for Visa? Don’t look at the price of the stock, look at the valuation. Price doesn’t matter, it’s all about value. Feels both are priced to perfection. They are wonderful monopolies, with much more growth to happen, especially in emerging markets and he would buy them in a heartbeat if they fell 25%. At 20X earnings, you are paying way too much.

Mastercard Inc. (MA-N)
August 6, 2013

Visa (V-N) or MasterCard (MC-N) and what would be a true market value for Visa? Don’t look at the price of the stock, look at the valuation. Price doesn’t matter, it’s all about value. Feels both are priced to perfection. They are wonderful monopolies, with much more growth to happen, especially in emerging markets and he would buy them in a heartbeat if they fell 25%. At 20X earnings, you are paying way too much.

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$654.000
Owned
Unknown
COMMENT
COMMENT
August 6, 2013

Feels REITs have been overly punished and he can’t understand why they continue to go down even though it looks like the 10 year Canada and 10 year U.S. Treasury (which REITs should be priced off of) have stabilized at the 260 level. Also, there are so many US retailers coming in which is positive for this company. Not his favourite as he feels capital allocation is not as strong as others. Also, hasn’t seen many REITs increase distributions over the last few years. Doesn’t see interest rates going much higher. Prefers H&R (HR.UN-T) and Crombie (CRR.UN-T).

Feels REITs have been overly punished and he can’t understand why they continue to go down even though it looks like the 10 year Canada and 10 year U.S. Treasury (which REITs should be priced off of) have stabilized at the 260 level. Also, there are so many US retailers coming in which is positive for this company. Not his favourite as he feels capital allocation is not as strong as others. Also, hasn’t seen many REITs increase distributions over the last few years. Doesn’t see interest rates going much higher. Prefers H&R (HR.UN-T) and Crombie (CRR.UN-T).

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$24.060
Owned
Unknown
BUY
BUY
August 6, 2013

Likes the business. Not a fast grower but feels it can grow 1%-2% a year in revenues and looks for cost improvements. Recently had a lousy quarter. Last year they benefited from the ability to export sugar to the US and Mexico. Paid out an extra dividend of $0.30 this year. Dividend is safe. This is an income only stock. 6.1% dividend yield.

Likes the business. Not a fast grower but feels it can grow 1%-2% a year in revenues and looks for cost improvements. Recently had a lousy quarter. Last year they benefited from the ability to export sugar to the US and Mexico. Paid out an extra dividend of $0.30 this year. Dividend is safe. This is an income only stock. 6.1% dividend yield.

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$5.820
Owned
Yes
BUY
BUY
August 6, 2013

The leader in office products. Likes their ability to do “fulfillment the next day” on every product that you want. Sees a continuance to improve revenues. The problem is, revenues have flat lined so they are looking to improve it by cost cutting. Likes 1) their high free cash flow yield, 2) increasing dividend each and every year and 3) always a potential as a takeover target from private equity. $25 in a few years.

Staples (SPLS-Q)
August 6, 2013

The leader in office products. Likes their ability to do “fulfillment the next day” on every product that you want. Sees a continuance to improve revenues. The problem is, revenues have flat lined so they are looking to improve it by cost cutting. Likes 1) their high free cash flow yield, 2) increasing dividend each and every year and 3) always a potential as a takeover target from private equity. $25 in a few years.

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$17.080
Owned
Unknown