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(A Top Pick Feb 10/17, Down 26%) He tax loss sold it and then bought it back yesterday. It is a good energy company with an excellent balance sheet and excellent properties. No one cared about energy this year and it was out of favour. Canadian Natural Gas prices were quite poor this year. The worst is behind it, however.
His problem with it is that they have no control over their product. It will take time for them to diversify away from movies. He has a problem dealing with machines to go see a movie. He needs a human interaction. He thinks it may come back to bite them at some point. If you think it will be a great Hollywood season then you might want to buy it.
It has been a favourite for him for some time. He bought it for income but it is providing some growth as well. They are overdue to raise their dividend but they are using their cash to grow. He does not mind that. He is buying for new clients. It’s a little rich but he is still buying it because there are some onetime items and the PE ratio is not too bad.
One of the largest engineering and construction companies in the world. Its history is construction with engineering being a part of it. There is less construction cost overrun risk to it. There will be some headline risk due to their having to pay a fine in the future on old news. There are lots of infrastructure projects on the horizon. (Analysts’ target: $69.00).
People love to hate it. The biggest pipeline company in North America. Most of its distribution had been oil but an auction this year made it bigger in Gas. They are selling some assets they bought to bring down the debt. Line 3 is in bad need for replacement into the US and if that goes ahead it will be good for the stock. (Analysts’ target: $60.00).
A large mall based women’s apparel retailer. It is a well run company but they had to endure a band environment as a retailer. They carry a lot of cash in investments and it serves as downside protection. If you think you saw the worst in retail investing then it may be a speculative buy.
A software stock that had been left behind because of a couple of acquisitions. It is up nicely today because of a surprise announcement that it will be added to the TSX-60 index. Historically these stocks go up a couple more percent and stay there after being added to the TSX-60.
Market. The TSX hitting a high is a relative thing compared to the rest of the world. Weed stocks are not stocks he has invested in for his clients because it is a business that is in its infancy in Canada. No one knows what it will look like in 2, 5 or 10 years. He does not know who the survivors will be, the winners, etc. Lots of money managers have not invested in these stocks. Most companies are getting in the beginning into the medical marijuana business. It is not based on science like regular drugs. There is not a good substitute to use as a bind placebo. You don’t know how much of the product will come from private grow-ops where it is not taxed.