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COMMENT
Market Outlook Since Q3 the market has been downhill. There is too much uncertainty -- with arrests, indictments, and espionage leading the way. The recent Fed announcement hinted at raising rates next year, causing a 1000 point turnaround. He is not prepared to say the absolute worst is over, but for a long term investor there is great value. It is too late to exit holdings now. Lots of good value in the energy sector with tax loss selling. Hedge fund year end redemptions are also pulling the market down. He feels this could all lead to fresh buying early in the new year.
HOLD
This frac-sand player is in a sector that has been decimated lately. He will continue to hold this one. Still on schedule to pay a dividend of $0.22 per share early next year. Bringing on a new mine has been easier than people thought, bringing more competition that expected. This could be a prime candidate for a tax-loss selling play. They are still forecasting growth next year.
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HOLD
He still likes it here and especially at these valuations. The new CEO will be good. They have announced a couple of new joint ventures and it is trading at less than 10 times earnings. Their HEP-C advantage has been declining, but they have growth in their HIV franchise.
biotechnology
pharmaceutical
COMMENT
Breaking News The unsolicited offer has been given an exemption by the ASC that avoids having to provide identical consideration to all securities holders. This means MEG will plan to waive its shareholder rights plan, but still plans to reject the offer the Husky. He feels this is an unusual decision by the ASC and MEG, but does not have an opinion on the issues.
oil
gas
COMMENT
Breaking News The unsolicited offer has been given an exemption by the ASC that avoids having to provide identical consideration to all securities holders. This means MEG will plan to waive its shareholder rights plan, but still plans to reject the offer the Husky. He feels this is an unusual decision by the ASC and MEG, but does not have an opinion on the issues.
oil
gas
COMMENT
General opinion of the sector The insurance group had run up earlier in the year as longer term interest rates were expected to rise. However, as short term rates have risen faster this has taken the wind out of the sails. There is still more upside in rates and with yields of 5%, it is a good long term holding. The MFC-T lawsuit over long term contracts will create uncertainty.
insurance
COMMENT
General opinion of the sector The insurance group had run up earlier in the year as longer term interest rates were expected to rise. However, as short term rates have risen faster this has taken the wind out of the sails. There is still more upside in rates and with yields of 5%, it is a good long term holding. The MFC-T lawsuit over long term contracts will create uncertainty.
insurance
COMMENT
How does a small investor afford GOOG-N? Trading board lots does not make a difference anymore. It all depends on your dollar amount to invest. If GOOG split 100:1, it would not make any difference in his opinion -- it should not dissuade you from investing. Yes, a lower share price might attract more investors. Stay away from stock consolidations -- this is a troubling sign.
PAST TOP PICK
(A Top Pick Nov 30/17, Down 37%) The 2018 earnings have kept pace, the valuation multiples have simply collapsed. They trade at 7.3 times EBITDA versus historical levels of 11 times. They still see new store openings, maybe not with the same growth rate. Housing has slowed, which may slow sales. Still a great bet and very cheap. If he had new money, he would be buying.
household goods
PAST TOP PICK
(A Top Pick Nov 30/17, Down 3%) Holding its own given the recent drop in markets in general. Just in the last week it has weaken based on a weak report from GoldmanSachs. They have recently guided earnings in line with market expectations. The European market slowdown is creating headwinds. It trades at less than 10 times earnings and over 2% yield with rising dividends expected next year.
specialty stores
COMMENT
CAD currency and stock values. If commodity values weaken then our stock index will weaken. This would put pressure on the Canadian dollar. Most of the majors are inter-listed on US exchanges and benefit from re-trading. You would be unwise to buy US stocks right now, due to the weakness in our currency.
