Latest Expert Opinions

Signal
Opinion
Expert
COMMENT
COMMENT
December 11, 2013

Same-store sales, particularly in the US and to some extent in Canada, have been negative. Offset a little by some new bigger box wine stores they have been trying to open. However, this cannibalizes some of their other stores. Pays a very generous dividend of 7.68%. Unless things change around for them, he is not sure how long that dividend will be sustained.

Alcanna (CLIQ-T)
December 11, 2013

Same-store sales, particularly in the US and to some extent in Canada, have been negative. Offset a little by some new bigger box wine stores they have been trying to open. However, this cannibalizes some of their other stores. Pays a very generous dividend of 7.68%. Unless things change around for them, he is not sure how long that dividend will be sustained.

Michael Sprung
President, Sprung Investment Management
Price
$14.060
Owned
Unknown
COMMENT
COMMENT
December 11, 2013

Just announced a 2-for-1 stock split. Feels we are in a very positive timber cycle right now, particularly with US housing beginning to pick up. These cycles tend to go for years. You could wait for a pullback, but over the next few years, timber stocks in general are going to do very well.

West Fraser Timber (WFT-T)
December 11, 2013

Just announced a 2-for-1 stock split. Feels we are in a very positive timber cycle right now, particularly with US housing beginning to pick up. These cycles tend to go for years. You could wait for a pullback, but over the next few years, timber stocks in general are going to do very well.

Michael Sprung
President, Sprung Investment Management
Price
$97.210
Owned
No
PAST TOP PICK
PAST TOP PICK
December 11, 2013

(A Top Pick Dec 21/12. Up 50.16%.) Still sees value in this. Right now, the lifecos in particular, are in a cycle where, going forward, there is going to be more operating efficiencies. They are very cost conscious now. Also, expects there will be some operating leverages as the volume of business continues to expand. If interest rates start to rise, that is good for lifecos.

Manulife Financial (MFC-T)
December 11, 2013

(A Top Pick Dec 21/12. Up 50.16%.) Still sees value in this. Right now, the lifecos in particular, are in a cycle where, going forward, there is going to be more operating efficiencies. They are very cost conscious now. Also, expects there will be some operating leverages as the volume of business continues to expand. If interest rates start to rise, that is good for lifecos.

Michael Sprung
President, Sprung Investment Management
Price
$19.690
Owned
Yes
PAST TOP PICK
PAST TOP PICK
December 11, 2013

(A Top Pick Dec 21/12. Down 22.63%.) Still likes this. This is a case where the parts are worth more than the whole. Management has been divesting a lot of assets. Prices they have been getting have been pretty good. New Management is very focused on capital allocation and going to projects with more immediate returns.

Talisman Energy (TLM-T)
December 11, 2013

(A Top Pick Dec 21/12. Down 22.63%.) Still likes this. This is a case where the parts are worth more than the whole. Management has been divesting a lot of assets. Prices they have been getting have been pretty good. New Management is very focused on capital allocation and going to projects with more immediate returns.

Michael Sprung
President, Sprung Investment Management
Price
$12.230
Owned
Yes
TOP PICK
TOP PICK
December 11, 2013

(A Top Pick Dec 21/12. Up 12.27%.) Has been making great strides in getting its Book in order. Have some big development projects coming up. They were criticized for taking on the Constancia project in South America because of the large capital costs. Have done a lot lately to defray the fears of how they are going to finance. Did a streaming deal with Silver Wheaton (SLW-T), which means they get capital of front today to help them. Issued some unsecured notes to raise capital. Next year should be a much better year for them with projects coming on.

(A Top Pick Dec 21/12. Up 12.27%.) Has been making great strides in getting its Book in order. Have some big development projects coming up. They were criticized for taking on the Constancia project in South America because of the large capital costs. Have done a lot lately to defray the fears of how they are going to finance. Did a streaming deal with Silver Wheaton (SLW-T), which means they get capital of front today to help them. Issued some unsecured notes to raise capital. Next year should be a much better year for them with projects coming on.

Michael Sprung
President, Sprung Investment Management
Price
$7.710
Owned
Yes
BUY WEAKNESS
BUY WEAKNESS
December 11, 2013

Auto cycle continues to be in a recovery phase. This one is extremely well-positioned to take advantage of that. US consumer has a little bit more disposable income now. With more stability in the European economies, car companies, and the parts makers will continue to do well. Another 10%-15% drop and he will be seriously looking at this.

Magna Int'l. (A) (MG-T)
December 11, 2013

Auto cycle continues to be in a recovery phase. This one is extremely well-positioned to take advantage of that. US consumer has a little bit more disposable income now. With more stability in the European economies, car companies, and the parts makers will continue to do well. Another 10%-15% drop and he will be seriously looking at this.

Michael Sprung
President, Sprung Investment Management
Price
$82.800
Owned
No
COMMENT
COMMENT
December 11, 2013

Last quarter had a slight miss and that was because shipments were quite a bit lower than people had anticipated. This is something that can always be made up in the next quarter. Demand for coal seems to be coming back to a great extent. He finds this a very expensive stock, trading at a very significant multiple to cash flow.

Last quarter had a slight miss and that was because shipments were quite a bit lower than people had anticipated. This is something that can always be made up in the next quarter. Demand for coal seems to be coming back to a great extent. He finds this a very expensive stock, trading at a very significant multiple to cash flow.

Michael Sprung
President, Sprung Investment Management
Price
$34.010
Owned
No