Latest Expert Opinions

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
February 15, 2017

Over the very long-term, there is still further upside in this. ESPN is a very key asset for them, so there have been concerns on cord cutting. Their parks business is very healthy and continuing to grow. Trading at 18X earnings, so it is not cheap. The earnings growth trajectory for the next couple of years has slowed quite a bit. He would wait for a pullback.

Walt Disney (DIS-N)
February 15, 2017

Over the very long-term, there is still further upside in this. ESPN is a very key asset for them, so there have been concerns on cord cutting. Their parks business is very healthy and continuing to grow. Trading at 18X earnings, so it is not cheap. The earnings growth trajectory for the next couple of years has slowed quite a bit. He would wait for a pullback.

Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$110.180
Owned
No
COMMENT
COMMENT
February 15, 2017

This has an almost monopoly like position in theatres and movie distributions in Canada. Because of that, it gets priced fairly richly. They just had an earnings miss, but there can be revenue volatility from quarter to quarter. You could take a look at some of the US theatre companies which historically have traded at lower valuations.

Cineplex Inc (CGX-T)
February 15, 2017

This has an almost monopoly like position in theatres and movie distributions in Canada. Because of that, it gets priced fairly richly. They just had an earnings miss, but there can be revenue volatility from quarter to quarter. You could take a look at some of the US theatre companies which historically have traded at lower valuations.

Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$51.300
Owned
No
SELL
SELL
February 15, 2017

This company is facing some challenges such as increasing competition from the wireless side. A very competitive business. A lot of the smaller carriers are being fairly aggressive on pricing. He would suggest selling your holdings and try to get in with at least a 10% lower share price.

This company is facing some challenges such as increasing competition from the wireless side. A very competitive business. A lot of the smaller carriers are being fairly aggressive on pricing. He would suggest selling your holdings and try to get in with at least a 10% lower share price.

Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$48.080
Owned
No
BUY WEAKNESS
BUY WEAKNESS
February 15, 2017

A brand-new public company in Canada. A franchise model. IPO’d at a very rich price, but has performed well since then. If they are able to increase their unit locations from about 250 today up to 700-800 in the next few years, it would represent one of the faster growing franchise players. He really likes the business and the concept, and it has a lot of opportunity to grow. However, it is trading at a rich valuation.

Freshii Inc (FRII-T)
February 15, 2017

A brand-new public company in Canada. A franchise model. IPO’d at a very rich price, but has performed well since then. If they are able to increase their unit locations from about 250 today up to 700-800 in the next few years, it would represent one of the faster growing franchise players. He really likes the business and the concept, and it has a lot of opportunity to grow. However, it is trading at a rich valuation.

Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$13.610
Owned
Unknown
COMMENT
COMMENT
February 15, 2017

Just had a move up recently, due to a financing they did a couple of months ago. A really good business. Operating a lot of regional flights that are not so competitive and has a relationship with Air Canada (AC-T). He prefers just playing Air Canada directly, which is very cheap. On a valuation multiple basis, Air Canada would screen cheaper than this one or Westjet (WJA-T).

Chorus Aviation Inc (CHR-T)
February 15, 2017

Just had a move up recently, due to a financing they did a couple of months ago. A really good business. Operating a lot of regional flights that are not so competitive and has a relationship with Air Canada (AC-T). He prefers just playing Air Canada directly, which is very cheap. On a valuation multiple basis, Air Canada would screen cheaper than this one or Westjet (WJA-T).

Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$7.400
Owned
No
COMMENT
COMMENT
February 15, 2017

A very well-run business, particularly after a number of years of underperformance relative to the banks. Lifecos are poised to outperform the Canadian banks as they have a lot of sensitivity to rising interest rates. If you believe we are in a period of reflation and rising interest rates, lifecos are a great way to play that. Also, this company has a great, global footprint.

Manulife Financial (MFC-T)
February 15, 2017

A very well-run business, particularly after a number of years of underperformance relative to the banks. Lifecos are poised to outperform the Canadian banks as they have a lot of sensitivity to rising interest rates. If you believe we are in a period of reflation and rising interest rates, lifecos are a great way to play that. Also, this company has a great, global footprint.

Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$25.030
Owned
No
COMMENT
COMMENT
February 15, 2017

There is a scarcity value. There are really no other publicly traded self storage businesses in Canada. Over the last few years, the sector has probably been one of the best performing in the US. He likes management and he likes the story. Not cheap, but thinks it will continue to do well and acquire more units.

StorageVault Canada (SVI-X)
February 15, 2017

There is a scarcity value. There are really no other publicly traded self storage businesses in Canada. Over the last few years, the sector has probably been one of the best performing in the US. He likes management and he likes the story. Not cheap, but thinks it will continue to do well and acquire more units.

Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$1.640
Owned
Yes