Latest Expert Opinions

Signal
Opinion
Expert
COMMENT
COMMENT
May 15, 2014

High yield ETF. Have less exposure to interest rates and more exposure to credit. As interest rates rise it will take fewer losses than others. But the next crisis in the equity market will be precipitated by an increase in interest rates. He’d be cautious. High interest rate bond rates command a little more of a fee than others. (0.62%)

High yield ETF. Have less exposure to interest rates and more exposure to credit. As interest rates rise it will take fewer losses than others. But the next crisis in the equity market will be precipitated by an increase in interest rates. He’d be cautious. High interest rate bond rates command a little more of a fee than others. (0.62%)

Mike MacBain
Founding Partner, East Coast Funds Management
Price
$21.980
Owned
Unknown
COMMENT
COMMENT
May 15, 2014

Had a strong performance recently. Did a bond issue recently that has done particularly well. The airline industry is extremely cyclical and if we got into a bear market it would go down more than the market. It is not defensive. The bond would have a much lower risk profile.

Air Canada (AC-T)
May 15, 2014

Had a strong performance recently. Did a bond issue recently that has done particularly well. The airline industry is extremely cyclical and if we got into a bear market it would go down more than the market. It is not defensive. The bond would have a much lower risk profile.

Mike MacBain
Founding Partner, East Coast Funds Management
Price
$7.910
Owned
Unknown
BUY
BUY
May 15, 2014

Bonds. Have performed particularly well for two reasons. Credit spreads tightened and Interest rates are stable. He would not hold bonds with more than 5 years duration. Lifecos perform better in rising rate environments. He wouldn’t put any equities into his portfolio.

Bonds. Have performed particularly well for two reasons. Credit spreads tightened and Interest rates are stable. He would not hold bonds with more than 5 years duration. Lifecos perform better in rising rate environments. He wouldn’t put any equities into his portfolio.

Mike MacBain
Founding Partner, East Coast Funds Management
Price
$20.070
Owned
Unknown
TOP PICK
TOP PICK
May 15, 2014

Long Telus Corp 4.40% 4/2043 bonds and Short Gov’t Of Canada 4.00% 6/2041 bonds. Telus is number 1 in their space, great management team, building subscriber base. Bond trading at $0.95 is very unique. It is very unique. The short is an interest rate hedge.

Telus Corp (T-T)
May 15, 2014

Long Telus Corp 4.40% 4/2043 bonds and Short Gov’t Of Canada 4.00% 6/2041 bonds. Telus is number 1 in their space, great management team, building subscriber base. Bond trading at $0.95 is very unique. It is very unique. The short is an interest rate hedge.

Mike MacBain
Founding Partner, East Coast Funds Management
Price
$40.870
Owned
Yes
TOP PICK
TOP PICK
May 15, 2014

Long Videotron 5.625% 6.2025 Bond and Short Gov’t of Canada 1.50% 6/2023 Bond. Gov’t is supporting Videotron as they try to increase competition in the wireless space against Telus and Rogers.

Long Videotron 5.625% 6.2025 Bond and Short Gov’t of Canada 1.50% 6/2023 Bond. Gov’t is supporting Videotron as they try to increase competition in the wireless space against Telus and Rogers.

Mike MacBain
Founding Partner, East Coast Funds Management
Price
$26.400
Owned
Yes
TOP PICK
TOP PICK
May 15, 2014

Long Bundesrepublik Deutchland 3.25% 1/2020 Bond and Short Deutsche Bank 5.00% 6/2024 Bond. He made a 10% gain on this trade just today. ECB is about to take over regulation of the European banking system. Thinks they will need $300 Billion in recapitalization.

Long Bundesrepublik Deutchland 3.25% 1/2020 Bond and Short Deutsche Bank 5.00% 6/2024 Bond. He made a 10% gain on this trade just today. ECB is about to take over regulation of the European banking system. Thinks they will need $300 Billion in recapitalization.

Mike MacBain
Founding Partner, East Coast Funds Management
Price
$42.070
Owned
Yes
PAST TOP PICK
PAST TOP PICK
May 15, 2014

Long Shaw 6.75% bonds maturing Nov 9/39. Short Gov’t of Canada 2037 Bonds. (Top Pick Dec 7/12, Up 16.43%) It was traded like a Double B credit and the spread blew out.

Long Shaw 6.75% bonds maturing Nov 9/39. Short Gov’t of Canada 2037 Bonds. (Top Pick Dec 7/12, Up 16.43%) It was traded like a Double B credit and the spread blew out.

Mike MacBain
Founding Partner, East Coast Funds Management
Price
$27.020
Owned
Yes