Latest Expert Opinions

Signal
Opinion
Expert
COMMENT
COMMENT
September 4, 2018

US Banks are very successful and are trading at reasonable valuations, but he prefers Morgan Stanley to BAC.

Bank of America (BAC-N)
September 4, 2018

US Banks are very successful and are trading at reasonable valuations, but he prefers Morgan Stanley to BAC.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$31.140
Owned
No
COMMENT
COMMENT
September 4, 2018

US Banks are very successful and are trading at reasonable valuations. He prefers Morgan Stanley to Bank of America.

Morgan Stanley (MS-N)
September 4, 2018

US Banks are very successful and are trading at reasonable valuations. He prefers Morgan Stanley to Bank of America.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$48.710
Owned
Yes
DON'T BUY
DON'T BUY
September 4, 2018

This is an Indian outsourcing company. The question is whether it can get things done cheaper than anyone else. They don’t do anything special, though they have executed well. He cautions that Indian companies and many other emerging market companies do not have the governance rules that American and Canadian investors have come to expect. Infosys is a huge player but its CFO recently left and there has been other management turnover. He does not see this as positive. This stock has had a big recent run, but this is not a growth stock like Amazon or Google. He would not invest at this price.

This is an Indian outsourcing company. The question is whether it can get things done cheaper than anyone else. They don’t do anything special, though they have executed well. He cautions that Indian companies and many other emerging market companies do not have the governance rules that American and Canadian investors have come to expect. Infosys is a huge player but its CFO recently left and there has been other management turnover. He does not see this as positive. This stock has had a big recent run, but this is not a growth stock like Amazon or Google. He would not invest at this price.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$20.760
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
September 4, 2018

A Top Pick October 23, 2017. Down 9%). The merger has gone through. The company will be split into several pieces over the next 24 months. Free cash flow and earnings are growing at 10 to 15%. He expects dividend increases while the company goes through its restructuring. The breakup value of the company would give a 25% gain and the company has stated that it is headed in that direction. The company has been under pressure on the commodity chemical side and the agriculture side. There had been disappointment, though recent earnings were strong and caused a bit of a recovery. In addition, institutional investors are shying away from the company because, in general, they are shying away from owning conglomerates.

DowDuPont Inc. (DWDP-N)
September 4, 2018

A Top Pick October 23, 2017. Down 9%). The merger has gone through. The company will be split into several pieces over the next 24 months. Free cash flow and earnings are growing at 10 to 15%. He expects dividend increases while the company goes through its restructuring. The breakup value of the company would give a 25% gain and the company has stated that it is headed in that direction. The company has been under pressure on the commodity chemical side and the agriculture side. There had been disappointment, though recent earnings were strong and caused a bit of a recovery. In addition, institutional investors are shying away from the company because, in general, they are shying away from owning conglomerates.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$69.720
Owned
Yes
PAST TOP PICK
PAST TOP PICK
September 4, 2018

(A Top Pick October 23, 2017. Down 6%) All insurers are suffering from the yield curve (the low difference between short-term and long-term rates). The worst is over for the entire sector. Manulife should have 10% earnings growth over the next 10 years even with the current environment. He likes the insurance sector generally and he likes the US and Asian exposure of Manulife.

Manulife Financial (MFC-T)
September 4, 2018

(A Top Pick October 23, 2017. Down 6%) All insurers are suffering from the yield curve (the low difference between short-term and long-term rates). The worst is over for the entire sector. Manulife should have 10% earnings growth over the next 10 years even with the current environment. He likes the insurance sector generally and he likes the US and Asian exposure of Manulife.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$23.620
Owned
Yes
PAST TOP PICK
PAST TOP PICK
September 4, 2018

(A Top Pick October 23, 2017. Down 18%). They make medical supplies, such as catheters. Japanese small-cap stocks were hit hard over the last while by the Trump threats of tariffs against the Japanese auto sector. This company is so cheap that if you take the company’s cash and subtract its liabilities, the result is positive. You are buying the company for free. He has owned 25 of these undervalued Japanese stocks and sees them as buying opportunities. Foreign inflows and outflows have a huge impact on valuations of Japanese stocks. The Trump tariff threats created a huge outflow. The whole Japanese market is taking it on the chin. This is a Warren Buffet dream. End of PAST Top Picks

(A Top Pick October 23, 2017. Down 18%). They make medical supplies, such as catheters. Japanese small-cap stocks were hit hard over the last while by the Trump threats of tariffs against the Japanese auto sector. This company is so cheap that if you take the company’s cash and subtract its liabilities, the result is positive. You are buying the company for free. He has owned 25 of these undervalued Japanese stocks and sees them as buying opportunities. Foreign inflows and outflows have a huge impact on valuations of Japanese stocks. The Trump tariff threats created a huge outflow. The whole Japanese market is taking it on the chin. This is a Warren Buffet dream. End of PAST Top Picks

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$0.000
Owned
Yes
DON'T BUY
DON'T BUY
September 4, 2018

He sees this company as a second or third tier player and would not buy this stock despite its recent large pullback. The major players like Kraft Heinz are suffering as large retailers are concentrating more on private brands. Margins are declining, revenues are flat, and so the industry as a whole is going through a valuation reset. In addition, with the consumer preference for healthier foods, small niche companies are forming in every city and are collectively taking away significant market share.

He sees this company as a second or third tier player and would not buy this stock despite its recent large pullback. The major players like Kraft Heinz are suffering as large retailers are concentrating more on private brands. Margins are declining, revenues are flat, and so the industry as a whole is going through a valuation reset. In addition, with the consumer preference for healthier foods, small niche companies are forming in every city and are collectively taking away significant market share.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$96.260
Owned
No