Latest Expert Opinions

Signal
Opinion
Expert
COMMENT
COMMENT
January 18, 2018

Recently did a debt issuance, a little odd in that it was diluted and didn't reduce the debt much. If people know there is an issue coming, it tends not to do well. He likes that this company has world beating, historic competence in high-end nickel technology. Has a sense that the high-end they are capable of is something that can actually reduce the cobalt content in a battery. Trading at $1.30. With a very, very big portion of their debt solved, they have been taken down from 30% to 12% of Ambatovy. They’re still strong in Cuba. Also has nickel and cobalt in both places.

Recently did a debt issuance, a little odd in that it was diluted and didn't reduce the debt much. If people know there is an issue coming, it tends not to do well. He likes that this company has world beating, historic competence in high-end nickel technology. Has a sense that the high-end they are capable of is something that can actually reduce the cobalt content in a battery. Trading at $1.30. With a very, very big portion of their debt solved, they have been taken down from 30% to 12% of Ambatovy. They’re still strong in Cuba. Also has nickel and cobalt in both places.

Michael Smedley
Exec VP & Chief Investment Officer, Morgan Meighan & Associates
Price
$1.310
Owned
Unknown
COMMENT
COMMENT
January 18, 2018

The closest thing to the old-fashioned majors we used to have, in copper. Has a huge cash flow and the debt is under control. The mines are probably not the best, but are good enough, particularly in an environment where copper supply is getting critical. This company should stay strong, but you are going to see it trade like anything else. If the metal situation weakens, you might get it moving down a bit more. This is your best in Canada.

The closest thing to the old-fashioned majors we used to have, in copper. Has a huge cash flow and the debt is under control. The mines are probably not the best, but are good enough, particularly in an environment where copper supply is getting critical. This company should stay strong, but you are going to see it trade like anything else. If the metal situation weakens, you might get it moving down a bit more. This is your best in Canada.

Michael Smedley
Exec VP & Chief Investment Officer, Morgan Meighan & Associates
Price
$36.270
Owned
Unknown
COMMENT
COMMENT
January 18, 2018

This was brilliant in the beginning, under different management, then it became a real downer and he is waiting to see it become seasoned in its separated roles.

This was brilliant in the beginning, under different management, then it became a real downer and he is waiting to see it become seasoned in its separated roles.

Michael Smedley
Exec VP & Chief Investment Officer, Morgan Meighan & Associates
Price
$0.140
Owned
Yes
PAST TOP PICK
PAST TOP PICK
January 18, 2018

(A Top Pick July 14/17. Up 5%.) Of all things in Fairfax, this one appeals to him. It gives the ordinary investor a way of getting into India. Also gives them a way of getting into a hands-on situation. Not just a portfolio of Indian stocks, but part of a creation/transformation of companies with some leaning towards environmental satisfying things. You need patience. When dealing with Prem Watsa, you know that you are dealing long-term with something like this. The stock is off a bit at the moment. Not a lot of interest in it.

(A Top Pick July 14/17. Up 5%.) Of all things in Fairfax, this one appeals to him. It gives the ordinary investor a way of getting into India. Also gives them a way of getting into a hands-on situation. Not just a portfolio of Indian stocks, but part of a creation/transformation of companies with some leaning towards environmental satisfying things. You need patience. When dealing with Prem Watsa, you know that you are dealing long-term with something like this. The stock is off a bit at the moment. Not a lot of interest in it.

Michael Smedley
Exec VP & Chief Investment Officer, Morgan Meighan & Associates
Price
$17.860
Owned
Yes
PAST TOP PICK
PAST TOP PICK
January 18, 2018

(A Top Pick July 14/17. Up 160%.) The ultimate listed cobalt stock, and always has been. It's in the Congo, and is utterly controlled by Glencore (GLEN-LN). The operational side is in order, and there has been a recent tendency for people to inflate cobalt stocks in general.

(A Top Pick July 14/17. Up 160%.) The ultimate listed cobalt stock, and always has been. It's in the Congo, and is utterly controlled by Glencore (GLEN-LN). The operational side is in order, and there has been a recent tendency for people to inflate cobalt stocks in general.

Michael Smedley
Exec VP & Chief Investment Officer, Morgan Meighan & Associates
Price
$2.110
Owned
Yes
PAST TOP PICK
PAST TOP PICK
January 18, 2018

(A Top Pick July 14/17. Down 78%.) This is not the credit cards of the banks, it is the cards that retail organizations use. There seems to be a downer going on in that business at the moment. The company just eliminated the dividend. They are the leaders, and have been 30 years in the business

(A Top Pick July 14/17. Down 78%.) This is not the credit cards of the banks, it is the cards that retail organizations use. There seems to be a downer going on in that business at the moment. The company just eliminated the dividend. They are the leaders, and have been 30 years in the business

Michael Smedley
Exec VP & Chief Investment Officer, Morgan Meighan & Associates
Price
$4.270
Owned
No
COMMENT
COMMENT
January 18, 2018

This has been very steady and doing quite well. It doesn't get seriously bad. Well supported and has strong backing. Has a nice dividend. Well run.

This has been very steady and doing quite well. It doesn't get seriously bad. Well supported and has strong backing. Has a nice dividend. Well run.

Michael Smedley
Exec VP & Chief Investment Officer, Morgan Meighan & Associates
Price
$22.230
Owned
Yes