Latest Expert Opinions

Signal
Opinion
Expert
SHORT
SHORT
October 12, 2016

NWH.UN-T vs. CSH.UN-T. CSH.UN-T has decent growth because of their demographics. His problem with REITs is that they were one of the biggest beneficiaries of the low interest rate. He looks at the cap rate and turns it into an enterprise value and you are paying 15-16 times operating cash flow. You should pay that for a high tech company, not a healthcare company. You are paying out 80-90% of the income as yield. You can’t do that in other sectors. Where is the money to invest in the business – how does it grow? He went short the REITs about two months ago. He does not like either one, but if forced to choose it would be CSH.UN-T.

NWH.UN-T vs. CSH.UN-T. CSH.UN-T has decent growth because of their demographics. His problem with REITs is that they were one of the biggest beneficiaries of the low interest rate. He looks at the cap rate and turns it into an enterprise value and you are paying 15-16 times operating cash flow. You should pay that for a high tech company, not a healthcare company. You are paying out 80-90% of the income as yield. You can’t do that in other sectors. Where is the money to invest in the business – how does it grow? He went short the REITs about two months ago. He does not like either one, but if forced to choose it would be CSH.UN-T.

John Zechner
Chairman, J. Zechner & Assoc
Price
$10.520
Owned
No
WATCH
WATCH
October 12, 2016

The CEO has retired early today after the close. The market was up in aftermarket trading. This one has issues and there is no more increase in the multiple. You have to pull in your horns on US banks. He would like to see the quarter come out on these banks so you get a sense.

Wells Fargo (WFC-N)
October 12, 2016

The CEO has retired early today after the close. The market was up in aftermarket trading. This one has issues and there is no more increase in the multiple. You have to pull in your horns on US banks. He would like to see the quarter come out on these banks so you get a sense.

John Zechner
Chairman, J. Zechner & Assoc
Price
$45.320
Owned
Unknown
WEAK BUY
WEAK BUY
October 12, 2016

He does not worry about the dividend or payout. He is more comfortable with one than some of the others. You have to look at their properties and where they are.

He does not worry about the dividend or payout. He is more comfortable with one than some of the others. You have to look at their properties and where they are.

John Zechner
Chairman, J. Zechner & Assoc
Price
$15.040
Owned
No
PAST TOP PICK
PAST TOP PICK
October 12, 2016

(Top Pick Oct 9/15, Down 31.49%) He thinks there is easily $20 worth of real estate per share in the company. But it is priced so you get the real estate effectively for free. What they did with Saks and others are all great ideas. They are better retailers than they get credit for. He is staying with it.

Hudson Bay Co. (HBC-T)
October 12, 2016

(Top Pick Oct 9/15, Down 31.49%) He thinks there is easily $20 worth of real estate per share in the company. But it is priced so you get the real estate effectively for free. What they did with Saks and others are all great ideas. They are better retailers than they get credit for. He is staying with it.

John Zechner
Chairman, J. Zechner & Assoc
Price
$16.920
Owned
Yes
PAST TOP PICK
PAST TOP PICK
October 12, 2016

(Top Pick Oct 9/15, Up 7.05%) Once you are on the IOS operating system you are hooked on it. You have close to a billion users that are hooked and now Apple are milking them for revenue. The iPhone 7 is doing fairly well. He thinks it is cheap and undervalued. What is there not to like?

Apple (AAPL-Q)
October 12, 2016

(Top Pick Oct 9/15, Up 7.05%) Once you are on the IOS operating system you are hooked on it. You have close to a billion users that are hooked and now Apple are milking them for revenue. The iPhone 7 is doing fairly well. He thinks it is cheap and undervalued. What is there not to like?

John Zechner
Chairman, J. Zechner & Assoc
Price
$117.340
Owned
Yes
PAST TOP PICK
PAST TOP PICK
October 12, 2016

(Top Pick Oct 9/15, Down 25.38%) They beat their estimates. The growth has started to come back after a couple of years. They bought great aluminum factories and that metal is becoming popular in autos. The next recession in autos is already priced into this stock.

Martinrea (MRE-T)
October 12, 2016

(Top Pick Oct 9/15, Down 25.38%) They beat their estimates. The growth has started to come back after a couple of years. They bought great aluminum factories and that metal is becoming popular in autos. The next recession in autos is already priced into this stock.

John Zechner
Chairman, J. Zechner & Assoc
Price
$8.350
Owned
Yes
COMMENT
COMMENT
October 12, 2016

Same store sales growth is 16.9%. 4 to 5% is normally not a bad number in retailing. It rose only a little after the IPO.

Aritzia Inc. (ATZ-T)
October 12, 2016

Same store sales growth is 16.9%. 4 to 5% is normally not a bad number in retailing. It rose only a little after the IPO.

John Zechner
Chairman, J. Zechner & Assoc
Price
$18.450
Owned
Unknown