Today, Michael Simpson, CFA and Greg Newman commented about whether GS-T, BIP.UN-T, BNS-T, MFC-T, ECA-T, SPB-T, HBC-T, CNR-T, ENF-T, NA-T, MBT-T, T-T, VSN-T, FTS-T, STN-T, INN.UN-T, PWF-T, AFN-T, DH-T, VET-T, CPX-T, RNW-T, RUS-T, POT-T, IGM-T, AGU-T, CNK-N, TCL.A-T, KBL-T, SPB-T, WMT-N, FFH-T, ECI-T, CPG-T, RUS-T, GH-T, IFP-T, EIF-T, ENF-T, FTS-T, EFN-T, ARE-T, ALA-T, CHE.UN-T, MG-T, DISCB-Q, CJT-T, CGX-T, OSB-T, LNR-T, DH-T, STB-T, C-N, MFC-T, CJR.B-T, JNJ-N are stocks to buy or sell.
Markets. He thinks the market is still a buy. Interest rates are going to remain low. The US dollar will continue to ease. A lower US$ means firmer S&P earnings and higher commodity prices. The world is not a great place in terms of economy, but stocks are much better than the alternatives. Cash gives you the opportunity to buy at lower levels. Things can happen. He thinks the market will be higher three months out. 70-75% equity is his recommendation. He thinks Canada is awaking. It has underperformed for 5 years. He thinks capital is flowing back into Canada.
Cinemas, primarily in the US and 14 Latin American countries. Trading at about 15X earnings and 9X cash flow. Has been hurt badly by the higher US$, but as that reverses, they’ll get some of that benefit from the Latin American countries. Good balance sheet, with debt to EBITDA of about 2.3X. Dividend yield of 3.09%.