Latest Expert Opinions

Signal
Opinion
Expert
COMMENT
COMMENT
February 17, 2016

Sold his holdings as soon as he saw the 5% vacancy rate occurring in Calgary. These are great managers. They own 30% of the float, so if you want to be aligned with the owners, this is the REIT to own. If you don’t have exposure to Alberta, this would be a great company to own.

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Boardwalk REIT (BEI.UN-T)
February 17, 2016

Sold his holdings as soon as he saw the 5% vacancy rate occurring in Calgary. These are great managers. They own 30% of the float, so if you want to be aligned with the owners, this is the REIT to own. If you don’t have exposure to Alberta, this would be a great company to own.

TOP PICK
TOP PICK
February 17, 2016

Essentially a back office for financial institutions. Recently made acquisitions in the US that gives them growth. About 3 months ago a Short seller advised that they were playing fast and loose with revenue recognition and not making any money in the US. The stock dropped very quickly. The only way to disprove the Short Seller’s report is to show the numbers over the next 2-3 quarters. 5% organic growth and a lot of cross-selling opportunities. Incredibly cheap at 14X earnings. Dividend yield of 4.07%.

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DH Corporation (DH-T)
February 17, 2016

Essentially a back office for financial institutions. Recently made acquisitions in the US that gives them growth. About 3 months ago a Short seller advised that they were playing fast and loose with revenue recognition and not making any money in the US. The stock dropped very quickly. The only way to disprove the Short Seller’s report is to show the numbers over the next 2-3 quarters. 5% organic growth and a lot of cross-selling opportunities. Incredibly cheap at 14X earnings. Dividend yield of 4.07%.

TOP PICK
TOP PICK
February 17, 2016

US banking has fallen by 30% this year, and he thinks that is inappropriate. Trading at 1X BV. Historically this is incredibly cheap. Dividend yield of 3%.

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US banking has fallen by 30% this year, and he thinks that is inappropriate. Trading at 1X BV. Historically this is incredibly cheap. Dividend yield of 3%.

TOP PICK
TOP PICK
February 17, 2016

Convertible 5.5% bond due Dec 1/18. This can be swapped for stock at $19. The company’s balance sheet is very conservative, so he knows he is going to get paid back at the end of the day. This is also a play on the provincial and federal infrastructure plays. One 3rd to half of revenues comes from public ventures such as subways, etc.

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Aecon Group Inc (ARE-T)
February 17, 2016

Convertible 5.5% bond due Dec 1/18. This can be swapped for stock at $19. The company’s balance sheet is very conservative, so he knows he is going to get paid back at the end of the day. This is also a play on the provincial and federal infrastructure plays. One 3rd to half of revenues comes from public ventures such as subways, etc.

COMMENT
COMMENT
February 17, 2016

Has been painted with a brush of being a hardware company that might disappear because some kid in a garage might come up with something better. This is basically why hardware companies tend to be assigned lower valuations. They are working hard towards building a services business with recurring revenue where there is more certainty. About 10% of their business now is Apple Music, Apple pay, etc. and these are applications that he thinks will have more traction in the future. The one thing that has hurt is the success of the iPhone. About a 3rd of their total market capitalization is in cash.

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Apple (AAPL-Q)
February 17, 2016

Has been painted with a brush of being a hardware company that might disappear because some kid in a garage might come up with something better. This is basically why hardware companies tend to be assigned lower valuations. They are working hard towards building a services business with recurring revenue where there is more certainty. About 10% of their business now is Apple Music, Apple pay, etc. and these are applications that he thinks will have more traction in the future. The one thing that has hurt is the success of the iPhone. About a 3rd of their total market capitalization is in cash.

WAIT
WAIT
February 17, 2016

Rails are an interesting view into the economy. The only thing showing any kind of strength for the rails is the auto area. That indicates the economy is a slow growth economy and that industrial America is one of the weakest parts. The consumer is probably where the strength lies in the economy. This is trading where it should be in the 11 to 12 times earnings area. There isn’t any hurry to get into this.

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Union Pacific Corp (UNP-N)
February 17, 2016

Rails are an interesting view into the economy. The only thing showing any kind of strength for the rails is the auto area. That indicates the economy is a slow growth economy and that industrial America is one of the weakest parts. The consumer is probably where the strength lies in the economy. This is trading where it should be in the 11 to 12 times earnings area. There isn’t any hurry to get into this.

BUY
BUY
February 17, 2016

This has had fits and starts, and over time it has done well. This is a great space in the healthcare area. With the demographic changes and the affordable care act, there is a lot of wind at your back. A great growing business and not terribly expensive, trading at 19-20 times earnings, and is growing fairly well.

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This has had fits and starts, and over time it has done well. This is a great space in the healthcare area. With the demographic changes and the affordable care act, there is a lot of wind at your back. A great growing business and not terribly expensive, trading at 19-20 times earnings, and is growing fairly well.