Latest Expert Opinions

Signal
Opinion
Expert
TOP PICK
TOP PICK
August 7, 2013

Thinks they have made a transition by acquiring the Brick. They are going to keep both names in place and he expects it will be great synergies coming out of the supply chain. Will have purchasing power. Most furniture companies trade at 15-17 times and this one is trading at only 10 times. Yield of 3.18%. Should be worth $17-$18 over the next year.

Thinks they have made a transition by acquiring the Brick. They are going to keep both names in place and he expects it will be great synergies coming out of the supply chain. Will have purchasing power. Most furniture companies trade at 15-17 times and this one is trading at only 10 times. Yield of 3.18%. Should be worth $17-$18 over the next year.

Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$12.700
Owned
Yes
TOP PICK
TOP PICK
August 7, 2013

Focuses on US residential housing, owning single properties in Miami Dade and in Arizona. Trades pretty cheap and they are good at what they do. He believes the US housing is in place and going forward. Yield of 3.82%.

Focuses on US residential housing, owning single properties in Miami Dade and in Arizona. Trades pretty cheap and they are good at what they do. He believes the US housing is in place and going forward. Yield of 3.82%.

Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$6.450
Owned
Yes
TOP PICK
TOP PICK
August 7, 2013

This is a fund that is about to be turned into a corporate entity. He thinks they are the best in class to becoming experts. This is a more senior lending where you have a lot more loan-to-value protection. They lend on short-term lending agreements to hospitals or apartment buildings where there is less risk.

This is a fund that is about to be turned into a corporate entity. He thinks they are the best in class to becoming experts. This is a more senior lending where you have a lot more loan-to-value protection. They lend on short-term lending agreements to hospitals or apartment buildings where there is less risk.

Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$9.060
Owned
Yes
PAST TOP PICK
PAST TOP PICK
August 7, 2013

(A Top Pick August 23/12. 9%.) 8% bond due November 15/18. Doesn’t own this anymore but does own the stock. It’s all about their Madagascar mine that is going into production this year and next. Expect it’s a better play using the equity which trades at a discount to NAV. He could see a 25% upside in the stock.

(A Top Pick August 23/12. 9%.) 8% bond due November 15/18. Doesn’t own this anymore but does own the stock. It’s all about their Madagascar mine that is going into production this year and next. Expect it’s a better play using the equity which trades at a discount to NAV. He could see a 25% upside in the stock.

Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$3.770
Owned
Yes
PAST TOP PICK
PAST TOP PICK
August 7, 2013

(A Top Pick August 23/12. Up 33.37%.) Have made such a huge effort over the last 2 years to diversify away from cheques and are focused on the back office for mortgage lending and financial technology that feeds into banking credit in the US. Still thinks there is some upside over the medium term.

DH Corporation (DH-T)
August 7, 2013

(A Top Pick August 23/12. Up 33.37%.) Have made such a huge effort over the last 2 years to diversify away from cheques and are focused on the back office for mortgage lending and financial technology that feeds into banking credit in the US. Still thinks there is some upside over the medium term.

Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$24.430
Owned
Yes
PAST TOP PICK
PAST TOP PICK
August 7, 2013

(A Top Pick August 23/12. Up 6.38%.) Has pared some off his holdings. Businesses are going to have to go through a cycle upgrade whether they like it or not so he is still holding. Great dividend. He can see $40 in the next 12-18 months.

Microsoft (MSFT-Q)
August 7, 2013

(A Top Pick August 23/12. Up 6.38%.) Has pared some off his holdings. Businesses are going to have to go through a cycle upgrade whether they like it or not so he is still holding. Great dividend. He can see $40 in the next 12-18 months.

Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$32.063
Owned
Yes
COMMENT
COMMENT
August 7, 2013

Have some really solid properties in Germany, however you are not only dealing with the currency perspective, but also with possible interest rate increases. Canadian REIT sector took a hit because of rising interest rates and this could be a danger in this case as well. Also, the valuation is still not incredibly cheap.

Have some really solid properties in Germany, however you are not only dealing with the currency perspective, but also with possible interest rate increases. Canadian REIT sector took a hit because of rising interest rates and this could be a danger in this case as well. Also, the valuation is still not incredibly cheap.

Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$9.190
Owned
No