Latest Expert Opinions

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
December 21, 2016

An excellent company. He used to own this, but its valuation got to a point where he just didn’t expect it to do much better. Since that time, it has been in a holding pattern. If it was 15% less then its current price, it might be worth looking at.

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Stantec Inc (STN-T)
December 21, 2016

An excellent company. He used to own this, but its valuation got to a point where he just didn’t expect it to do much better. Since that time, it has been in a holding pattern. If it was 15% less then its current price, it might be worth looking at.

HOLD
HOLD
December 21, 2016

Had been one of his Top picks, but hasn’t been buying it for some time. His cost base was well under $30. The company has been in transition for a few years, the most notable being when they merged with Motor Coach International. They are now the dominant bus and coach manufacturer in North America. If we do see significant spending on infrastructure, a lot of that is going to be going into transportation, and this company will get its fair share. He feels the prices are anticipating that. He wouldn’t sell this, and there may be opportunities to buy it a little bit lower.

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Had been one of his Top picks, but hasn’t been buying it for some time. His cost base was well under $30. The company has been in transition for a few years, the most notable being when they merged with Motor Coach International. They are now the dominant bus and coach manufacturer in North America. If we do see significant spending on infrastructure, a lot of that is going to be going into transportation, and this company will get its fair share. He feels the prices are anticipating that. He wouldn’t sell this, and there may be opportunities to buy it a little bit lower.

COMMENT
COMMENT
December 21, 2016

Has always admired this company. For a long time, he didn’t own any because the price seemed to be well ahead of what his expectations were. He finds that generally true with pipelines today. The multiples are at 20X earnings in a lot of cases. On the other hand, you have the consistency of earnings, the expansion of the rate bases, and this company probably has been one of the better managed ones. Because this has a fairly significant position in the US, he wouldn’t hesitate to own this for the long-term.

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Enbridge (ENB-T)
December 21, 2016

Has always admired this company. For a long time, he didn’t own any because the price seemed to be well ahead of what his expectations were. He finds that generally true with pipelines today. The multiples are at 20X earnings in a lot of cases. On the other hand, you have the consistency of earnings, the expansion of the rate bases, and this company probably has been one of the better managed ones. Because this has a fairly significant position in the US, he wouldn’t hesitate to own this for the long-term.

COMMENT
COMMENT
December 21, 2016

This has been a great story. It would fall into the growth camp of companies, where people are expecting growth to continue at a tremendous rate. They have really expanded on a rollup basis. He is always careful about companies where all of their growth comes from acquisitions. The multiples are just too large for him to handle.

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This has been a great story. It would fall into the growth camp of companies, where people are expecting growth to continue at a tremendous rate. They have really expanded on a rollup basis. He is always careful about companies where all of their growth comes from acquisitions. The multiples are just too large for him to handle.

PAST TOP PICK
PAST TOP PICK
December 21, 2016

(A Top Pick Nov 13/15. Up 34.24%.) This has gone up considerably and is getting to a point where it is close to being fully valued. It has always been an extremely well-run and well thought out company, and one of the major players in the flight simulator/training business. If it were a few dollars higher, he would probably be taking some profits.

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CAE Inc (CAE-T)
December 21, 2016

(A Top Pick Nov 13/15. Up 34.24%.) This has gone up considerably and is getting to a point where it is close to being fully valued. It has always been an extremely well-run and well thought out company, and one of the major players in the flight simulator/training business. If it were a few dollars higher, he would probably be taking some profits.

PAST TOP PICK
PAST TOP PICK
December 21, 2016

(A Top Pick Nov 13/15. Up 54.92%.) During the debacle in the oil/gas industry, when prices started to plummet, this company was punished, and yet they have some of the best properties. They have always been a fairly well financed company. Expects they will continue to do well in this environment.

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Encana Corp (ECA-T)
December 21, 2016

(A Top Pick Nov 13/15. Up 54.92%.) During the debacle in the oil/gas industry, when prices started to plummet, this company was punished, and yet they have some of the best properties. They have always been a fairly well financed company. Expects they will continue to do well in this environment.

PAST TOP PICK
PAST TOP PICK
December 21, 2016

(A Top Pick Nov 13/15. Up 20.97%.) Has been a long time admirer. Particularly since the financial crisis, they have done so much to restructure the company and de-risk the balance sheet, changed the product mix so it is not quite as sensitive as it used to be. It should benefit from rising interest rates. They are very well positioned, not only in the US, but have expanded significantly in Asia. Sales in Asia have been doing extremely well. This could be just the beginning for them.

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Manulife Financial (MFC-T)
December 21, 2016

(A Top Pick Nov 13/15. Up 20.97%.) Has been a long time admirer. Particularly since the financial crisis, they have done so much to restructure the company and de-risk the balance sheet, changed the product mix so it is not quite as sensitive as it used to be. It should benefit from rising interest rates. They are very well positioned, not only in the US, but have expanded significantly in Asia. Sales in Asia have been doing extremely well. This could be just the beginning for them.