Latest Expert Opinions

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COMMENT
COMMENT
December 16, 2013

Essentially a play on North Sea oil. A development company that just manages to find ways to never deliver, it is always next year’s story. He just got tired of the name.

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Ithaca Energy Inc. (IAE-T)
December 16, 2013

Essentially a play on North Sea oil. A development company that just manages to find ways to never deliver, it is always next year’s story. He just got tired of the name.

COMMENT
COMMENT
December 16, 2013

Part of the problem is that they own a patent portfolio and it is very hard for anyone externally to judge the quality of it. Recently lost a court case against Apple (AAPL-Q) and had a series of setbacks this year. Have announced a strategic review. Very easy to see a valuation of $5-$6. If you believe that there is going to be a potential sale coming, it would be good to stick around.

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Quarterhill Inc (QTRH-T)
December 16, 2013

Part of the problem is that they own a patent portfolio and it is very hard for anyone externally to judge the quality of it. Recently lost a court case against Apple (AAPL-Q) and had a series of setbacks this year. Have announced a strategic review. Very easy to see a valuation of $5-$6. If you believe that there is going to be a potential sale coming, it would be good to stick around.

COMMENT
COMMENT
December 16, 2013

Likes this very much. A US listed vertically integrated timber play, primarily in the Southeast US. Has a lot of leverage to the US housing and lumber cycle. J.P. Morgan came out with some very significant reports last Thursday. The most leveraged segment of the lumber cycle is the mills. This is a name to play if you believe in the US housing and lumber story. Completely undervalued.

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Deltic Timber (DEL-N)
December 16, 2013

Likes this very much. A US listed vertically integrated timber play, primarily in the Southeast US. Has a lot of leverage to the US housing and lumber cycle. J.P. Morgan came out with some very significant reports last Thursday. The most leveraged segment of the lumber cycle is the mills. This is a name to play if you believe in the US housing and lumber story. Completely undervalued.

COMMENT
COMMENT
December 16, 2013

Likes the medical office space. Very resilient. Doctors and dentists don’t move around a lot. Very good model. Wasn’t particularly enthusiastic about a lot of the acquisitions they made when they first started. Seemed to be growing for the sake of growing. Sold his holdings. As a long-term investor, you should do fine.

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Likes the medical office space. Very resilient. Doctors and dentists don’t move around a lot. Very good model. Wasn’t particularly enthusiastic about a lot of the acquisitions they made when they first started. Seemed to be growing for the sake of growing. Sold his holdings. As a long-term investor, you should do fine.

COMMENT
COMMENT
December 16, 2013

One of his largest holdings. Lenders to the lowest segments of the auto borrowing population. In the D class and they dominate the D class. Install devices in the cars, so if a borrower is behind in payments, they’ll make your horn honk for 20 seconds. If you are 30 or 60 days behind, your ignition won’t start. If they have to repossess, they have a GPS system for this. Dividend is very sustainable and they have a lot of potential to increase their dividends.

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One of his largest holdings. Lenders to the lowest segments of the auto borrowing population. In the D class and they dominate the D class. Install devices in the cars, so if a borrower is behind in payments, they’ll make your horn honk for 20 seconds. If you are 30 or 60 days behind, your ignition won’t start. If they have to repossess, they have a GPS system for this. Dividend is very sustainable and they have a lot of potential to increase their dividends.

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TOP PICK
December 16, 2013

Very interesting technology used in oil/gas exploration. Have their equipment installed in a standard Cessna plane, fly at 10,000 feet and pinpoint where to do the 2-D and 3-D seismic resulting in major cost savings. Very high margin business. Expects some very explosive growth to come shortly.

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Very interesting technology used in oil/gas exploration. Have their equipment installed in a standard Cessna plane, fly at 10,000 feet and pinpoint where to do the 2-D and 3-D seismic resulting in major cost savings. Very high margin business. Expects some very explosive growth to come shortly.

TOP PICK
TOP PICK
December 16, 2013

Essentially they match up a mortgagee with a financial institution. This goes on to the financial institutions book, but they continue to administer the mortgage. Because they are administering the mortgage, they continue to have a relationship with the borrower. When the mortgage comes up in 5 years, they are the ones they are most likely to turn to. Because of this, their margins are about 2.5X of the renewals of the originals. They are in their 6th year of operation so we are now starting to get in the Golden age where they are getting the rollovers of the mortgages.

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Essentially they match up a mortgagee with a financial institution. This goes on to the financial institutions book, but they continue to administer the mortgage. Because they are administering the mortgage, they continue to have a relationship with the borrower. When the mortgage comes up in 5 years, they are the ones they are most likely to turn to. Because of this, their margins are about 2.5X of the renewals of the originals. They are in their 6th year of operation so we are now starting to get in the Golden age where they are getting the rollovers of the mortgages.