Latest Expert Opinions

Signal
Opinion
Expert
COMMENT
COMMENT
September 27, 2017

Prefers US banks to Canadian banks, but this one is becoming more and more a US bank. If you don’t want to buy US banks directly, this is a reasonable way of playing the US banking business.

Toronto Dominion (TD-T)
September 27, 2017

Prefers US banks to Canadian banks, but this one is becoming more and more a US bank. If you don’t want to buy US banks directly, this is a reasonable way of playing the US banking business.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$70.290
Owned
Unknown
COMMENT
COMMENT
September 27, 2017

Prefers regional US banks. When you go with the regional banks, you are getting pure banking and exposure to loan growth with exposure to higher interest rates helping them. With the centre moneyed banks, you are also bringing capital markets into play, which is an area he doesn’t want to play in right now.

Bank of America (BAC-N)
September 27, 2017

Prefers regional US banks. When you go with the regional banks, you are getting pure banking and exposure to loan growth with exposure to higher interest rates helping them. With the centre moneyed banks, you are also bringing capital markets into play, which is an area he doesn’t want to play in right now.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$25.410
Owned
Unknown
COMMENT
COMMENT
September 27, 2017

Which FAANG stock would you choose? As a value investor, he wouldn’t touch any of them. It looks like they have peaked as money is moving out of them temporarily, into more cyclical stocks, financials and even energy stocks for now. Because of that, he wouldn’t own any right now. If he had to pick one, this one seems to really dominate what they do.

Facebook (FB-Q)
September 27, 2017

Which FAANG stock would you choose? As a value investor, he wouldn’t touch any of them. It looks like they have peaked as money is moving out of them temporarily, into more cyclical stocks, financials and even energy stocks for now. Because of that, he wouldn’t own any right now. If he had to pick one, this one seems to really dominate what they do.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$167.680
Owned
No
PAST TOP PICK
PAST TOP PICK
September 27, 2017

(A Top Pick Nov 8/16. Down 19%.) The whole energy complex has come down. Despite the fact that this is 70% natural gas and only 30% oil, it traded like an oil stock. In spite of being the best capitalized, one of the best run, and with great properties, especially in the Montney region of BC, it got sold off. The new BC government is against fracing, LNG, etc. It seems to have bottomed, which is a great buying opportunity.

Arc Resources Ltd (ARX-T)
September 27, 2017

(A Top Pick Nov 8/16. Down 19%.) The whole energy complex has come down. Despite the fact that this is 70% natural gas and only 30% oil, it traded like an oil stock. In spite of being the best capitalized, one of the best run, and with great properties, especially in the Montney region of BC, it got sold off. The new BC government is against fracing, LNG, etc. It seems to have bottomed, which is a great buying opportunity.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$17.740
Owned
Yes
PAST TOP PICK
PAST TOP PICK
September 27, 2017

(A Top Pick Nov 8/16. Up 12%.) One of the biggest financial companies in the US. In late July, they spun out their consumer division, which he took advantage of. He still likes the outlook for this company.

Metlife (MET-N)
September 27, 2017

(A Top Pick Nov 8/16. Up 12%.) One of the biggest financial companies in the US. In late July, they spun out their consumer division, which he took advantage of. He still likes the outlook for this company.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$51.860
Owned
Yes
PAST TOP PICK
PAST TOP PICK
September 27, 2017

(A Top Pick Nov 8/16. Up 20%.) This is an engineering company, not construction. They recently made a major acquisition in the US to get them more into the water engineering business. Earnings came through very, very well. They will be a beneficiary once the North American governments start spending money on infrastructure, rather than talking about it.

Stantec Inc (STN-T)
September 27, 2017

(A Top Pick Nov 8/16. Up 20%.) This is an engineering company, not construction. They recently made a major acquisition in the US to get them more into the water engineering business. Earnings came through very, very well. They will be a beneficiary once the North American governments start spending money on infrastructure, rather than talking about it.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$34.630
Owned
Yes
COMMENT
COMMENT
September 27, 2017

This is interesting because it is basically Canadian only, mostly in Québec and a larger capital markets operation than other banks on a relative basis. The fact that it is not over exposed to the mortgage market in Ontario and BC has been viewed as a positive. The lack of exposure to the US has hurt them, but offsetting that they have a lot of energy exposure in Alberta. Dividend yield of 3.9%.

This is interesting because it is basically Canadian only, mostly in Québec and a larger capital markets operation than other banks on a relative basis. The fact that it is not over exposed to the mortgage market in Ontario and BC has been viewed as a positive. The lack of exposure to the US has hurt them, but offsetting that they have a lot of energy exposure in Alberta. Dividend yield of 3.9%.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$59.210
Owned
No