Latest Expert Opinions

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
September 13, 2018

He's avoided the weed space, because cannabis producers--being commodity producers--have very low profit margins. This is a gold rush now. Some companies will survive, but some won't. There are legalization challenges, especially about edibles. Canopy will survive, because Constellatioon Brands is its major backer, but doubts it can maintain its stock levels. Right now, cannabis is a total crap shoot, though Canopy is one of the strongest of the pack.

Canopy Growth Corp. (WEED-T)
September 13, 2018

He's avoided the weed space, because cannabis producers--being commodity producers--have very low profit margins. This is a gold rush now. Some companies will survive, but some won't. There are legalization challenges, especially about edibles. Canopy will survive, because Constellatioon Brands is its major backer, but doubts it can maintain its stock levels. Right now, cannabis is a total crap shoot, though Canopy is one of the strongest of the pack.

Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$57.280
Owned
No
DON'T BUY
DON'T BUY
September 13, 2018

It's really struggled this year. A problem for all asset managers is an ongoing price war led by the banks. As a result, CI has had to cut fees, but also halved their dividend (last month). Also, their key funds are underperforming. The organic growth is gone. This is a value trap. Avoid.

CI Financial Corp (CIX-T)
September 13, 2018

It's really struggled this year. A problem for all asset managers is an ongoing price war led by the banks. As a result, CI has had to cut fees, but also halved their dividend (last month). Also, their key funds are underperforming. The organic growth is gone. This is a value trap. Avoid.

Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$20.500
Owned
No
DON'T BUY
DON'T BUY
September 13, 2018

It's struggled for a while. He knows it very well. When it was private, it was a great growth story. The valuation at the time of the IPO was ludicrously high with unrealistic growth expecations. He still feels this way.

Freshii Inc (FRII-T)
September 13, 2018

It's struggled for a while. He knows it very well. When it was private, it was a great growth story. The valuation at the time of the IPO was ludicrously high with unrealistic growth expecations. He still feels this way.

Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$4.500
Owned
No
DON'T BUY
DON'T BUY
September 13, 2018

All auto parts stocks have been beat up because of NAFTA treaty delays and Trump's tariffs. Auto parts involve steel and aluminum which also face tariffs. Also, the auto cycle has likely peaked in North America and maybe the world. We could see an extended slide in auto sales.

Linamar Corp (LNR-T)
September 13, 2018

All auto parts stocks have been beat up because of NAFTA treaty delays and Trump's tariffs. Auto parts involve steel and aluminum which also face tariffs. Also, the auto cycle has likely peaked in North America and maybe the world. We could see an extended slide in auto sales.

Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$61.060
Owned
No
BUY
BUY
September 13, 2018

Gold is an enigma--sometimes is a currency or a hedge against inflation or something else. What's holding back gold now is that it's the inverse of the U.S. dollar--which has been strong this year. Producers like Agnico have operating leverage--when gold prices rise, their prices and earnings will rise disproportionately more than the commodity. Agnico has several mines operating well. It's a good house in a bad neighbourhood.

Agnico-Eagle Mines (AEM-T)
September 13, 2018

Gold is an enigma--sometimes is a currency or a hedge against inflation or something else. What's holding back gold now is that it's the inverse of the U.S. dollar--which has been strong this year. Producers like Agnico have operating leverage--when gold prices rise, their prices and earnings will rise disproportionately more than the commodity. Agnico has several mines operating well. It's a good house in a bad neighbourhood.

Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$43.670
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
September 13, 2018

(Past Top Pick, Nov. 30, 2017, Down 10%) A steady business, but was sold off as interest rates rose. Also, investors misunderstood their major growth project, which he thinks is sound. IPL is building a plant to process and move rich natural gas out of Alberta which will finish in 2021 and produce good profits. Investors are taking a wait and see approach, though. Pays a 7% dividend yield. He's happy to hold it.

Inter Pipeline (IPL-T)
September 13, 2018

(Past Top Pick, Nov. 30, 2017, Down 10%) A steady business, but was sold off as interest rates rose. Also, investors misunderstood their major growth project, which he thinks is sound. IPL is building a plant to process and move rich natural gas out of Alberta which will finish in 2021 and produce good profits. Investors are taking a wait and see approach, though. Pays a 7% dividend yield. He's happy to hold it.

Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$23.240
Owned
Yes
PAST TOP PICK
PAST TOP PICK
September 13, 2018

(Past Top Pick, Nov. 30, 2017, Up 18%) He bought this two years ago at the bottom of the cycle, and now the oversupply glut is clearing and India is paying higher prices for potash. Has $5 billion in cash and will likely make accretive purchases in the future.

Nutrien Ltd. (NTR-T)
September 13, 2018

(Past Top Pick, Nov. 30, 2017, Up 18%) He bought this two years ago at the bottom of the cycle, and now the oversupply glut is clearing and India is paying higher prices for potash. Has $5 billion in cash and will likely make accretive purchases in the future.

Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$73.360
Owned
Yes