Latest Expert Opinions

Signal
Opinion
Expert
COMMENT
COMMENT
February 22, 2017

He used to be a “Long” shareholder and lost money. Eventually got fed up with management and got out of the stock.

He used to be a “Long” shareholder and lost money. Eventually got fed up with management and got out of the stock.

Jerome Hass
Portfolio Manager, Lightwater Partners
Price
$1.070
Owned
No
COMMENT
COMMENT
February 22, 2017

Has a long term Short on this. Looking back to the last downturn in 2008-2009, it took 17 quarters for them to get back to pre-recession provisioning levels. The current downturn in Alberta has been a lot longer and more protracted, so thinks the time horizon for provisions will probably be even longer than 17 quarters and doesn’t think the street is factoring that in.

Has a long term Short on this. Looking back to the last downturn in 2008-2009, it took 17 quarters for them to get back to pre-recession provisioning levels. The current downturn in Alberta has been a lot longer and more protracted, so thinks the time horizon for provisions will probably be even longer than 17 quarters and doesn’t think the street is factoring that in.

Jerome Hass
Portfolio Manager, Lightwater Partners
Price
$30.410
Owned
Yes
TOP PICK
TOP PICK
February 22, 2017

Going to be reporting in March. There are so few listed toy companies globally. It is not inconceivable that this company gets taken out by one of the bigger players. (Analysts’ price target is $37.86.)

Spin Master Corp (TOY-T)
February 22, 2017

Going to be reporting in March. There are so few listed toy companies globally. It is not inconceivable that this company gets taken out by one of the bigger players. (Analysts’ price target is $37.86.)

Jerome Hass
Portfolio Manager, Lightwater Partners
Price
$33.700
Owned
Yes
TOP PICK
TOP PICK
February 22, 2017

*Short* A very crowded short, and he generally doesn’t like to participate in crowded trades, but makes an exception in this case. There are a lot of Shorts on this, because the US hedge funds use it as a proxy for the Canadian housing market. His view is actually quite neutral on the Canadian housing market. There is a lot of runoff in their portfolio, so just to stand still they have to get at least 14% growth in terms of their number of mortgages. This is because banks have gotten smarter at catering to new immigrants to Canada. Dividend yield of 3.91%. (Analysts’ price target is $29.73.)

Home Capital Group (HCG-T)
February 22, 2017

*Short* A very crowded short, and he generally doesn’t like to participate in crowded trades, but makes an exception in this case. There are a lot of Shorts on this, because the US hedge funds use it as a proxy for the Canadian housing market. His view is actually quite neutral on the Canadian housing market. There is a lot of runoff in their portfolio, so just to stand still they have to get at least 14% growth in terms of their number of mortgages. This is because banks have gotten smarter at catering to new immigrants to Canada. Dividend yield of 3.91%. (Analysts’ price target is $29.73.)

Jerome Hass
Portfolio Manager, Lightwater Partners
Price
$26.260
Owned
Yes
TOP PICK
TOP PICK
February 22, 2017

*Long* A pairs trade with Cineplex (CGX-T). This is about twice the size of Cineplex in terms of their screens.

Cinemark Holdings (CNK-N)
February 22, 2017

*Long* A pairs trade with Cineplex (CGX-T). This is about twice the size of Cineplex in terms of their screens.

Jerome Hass
Portfolio Manager, Lightwater Partners
Price
$43.390
Owned
Yes
TOP PICK
TOP PICK
February 22, 2017

*Short* A pairs trade with Cinemark (CNK-N). This is trading at twice the valuation of Cinemark.

Cineplex Inc (CGX-T)
February 22, 2017

*Short* A pairs trade with Cinemark (CNK-N). This is trading at twice the valuation of Cinemark.

Jerome Hass
Portfolio Manager, Lightwater Partners
Price
$50.920
Owned
Yes
COMMENT
COMMENT
February 22, 2017

If looking to be exposed to all the positive attributes about global healthcare, this is not a company he would be focusing on.

If looking to be exposed to all the positive attributes about global healthcare, this is not a company he would be focusing on.

Paul MacDonald
Chief Investment Officer & Portfolio Manager, Harvest Portfolios Group
Price
$3.070
Owned
Unknown