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It is denominated in US$. If you look at ZPH-T, which is hedged, it has a 4% return year over year. Currency fluctuations impact ZPW-T. He likes to pair it with ZWH-T, and then you get a yield in the US market that is three times the S&P 500 but with less risk. Currency is actually the most important consideration when you invest internationally. Currency averages 5.4 percentage points' impact on your investment returns internationally.
It is somewhat directly related to steel and tariffs. It has broken out and is making higher highs and higher lows. If it does not break the high of last January then he would be worried.
It is somewhat directly related to steel and tariffs. It has broken out and is making higher highs and higher lows. If it does not break the high of last January then he would be worried.
A good bread and butter name to own. There has been a bit of a rally so far this year. The reason energy stocks have gone up in Canada is because US investors are coming into our names because they are seeing few names that don’t have takeaway issues. It is a lower risk name. He sees 4 times forward cash flow, where as it used to be 8. Where we are in oil prices, these names are trading at half their historical multiples, even if you don’t think oil is going up. It's a steady Eddie name. He is looking for more growth and so doesn't own this name.
A good bread and butter name to own. There has been a bit of a rally so far this year. The reason energy stocks have gone up in Canada is because US investors are coming into our names because they are seeing few names that don’t have takeaway issues. It is a lower risk name. He sees 4 times forward cash flow, where as it used to be 8. Where we are in oil prices, these names are trading at half their historical multiples, even if you don’t think oil is going up. It's a steady Eddie name. He is looking for more growth and so doesn't own this name.
He struggles to get over excited about it. There were balance sheet issues and oil pricing headwinds. This is a tier 2 or 3 name.
He struggles to get over excited about it. There were balance sheet issues and oil pricing headwinds. This is a tier 2 or 3 name.
This is a bit of a different story because they announced strategic alternatives. It helps when a management team owns so much of the stock. The process should be completed within a month. They will probably find a buyer for one of their assets. He sold this name a month ago. As it sells off it is getting increasingly compelling.
This is a bit of a different story because they announced strategic alternatives. It helps when a management team owns so much of the stock. The process should be completed within a month. They will probably find a buyer for one of their assets. He sold this name a month ago. As it sells off it is getting increasingly compelling.
Similar to WCP-T, it is more of a bread and butter drilling story. It is trying to be consistent and manage the balance sheet.
Similar to WCP-T, it is more of a bread and butter drilling story. It is trying to be consistent and manage the balance sheet.
It was a merger that fixed balance sheets. It took off but there was this overhang of too much supply of fracking sand. He threw in the towel on fracking names last year.
It was a merger that fixed balance sheets. It took off but there was this overhang of too much supply of fracking sand. He threw in the towel on fracking names last year.
It is denominated in US$. If you look at ZPH-T, which is hedged, it has a 4% return year over year. Currency fluctuations impact ZPW-T. He likes to pair it with ZWH-T, and then you get a yield in the US market that is three times the S&P 500 but with less risk. Currency is actually the most important consideration when you invest internationally. Currency averages 5.4 percentage points' impact on your investment returns internationally.