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Today, Kash Pashootan commented about whether AQN-T, SU-T, CMS-N, RCI.B-T, ARE-T, RY-T, ENF-T, ENB-T, BPY.UN-T, TFII-T, TCL.A-T, NA-T, AVGO-Q, MG-T, TM-N, CM-T, PWF-T, DOL-T, LB-T, WMT-N are stocks to buy or sell.

N/A

Market. (A Commentary)

07/03/2019
A Comment -- General Comments From an Expert
Market. It is a big change from how we ended the year. He is on the more cautious side. It is great to see a 'V' shaped recovery but he thinks a there is not a lot that has changed. We were overdue for a correction. The strength of the recovery makes him say that we are back to the point where we need another correction. The US market is healthy. When you break it down you find it is a small group of stocks. He thinks it is healthy that those stocks have retreated.
Unknown
Kash Pashootan
N/A
Unknown
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N/A

Early Forties, no debt. How to construct portfolio. (A Commentary)

07/03/2019
A Comment -- General Comments From an Expert
Early Forties, no debt. How to construct portfolio. Start with investing in what you understand. Keep it to a time tested recipe. Time-tested dividends are the way to go. ETFs are recommended. Keep it simple. Start with the US market. As capital grows start to become more customized.
Unknown
Kash Pashootan
N/A
Unknown
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DON'T BUY

Walmart Inc(WMT-N)

07/03/2019
Walmart Inc
They executed in a very difficult environments, fending off the AMZN-Q effect. They have scope and attractive prices. They are effective in growing their online presence. It is over 20 times price to earnings. He invests in those who can raise dividends. Wal-Mart is modernizing stores so there will be a drain. Dividend increases are not overly likely.
department stores
Kash Pashootan
$97.450
Unknown
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BUY

Laurentian Bank(LB-T)

07/03/2019
Laurentian Bank
The juicy dividend sticks out. He thinks it is safe, but you have to be able to stomach some volatility. Their business lines are concentrated on the Canadian consumer, vs. BNS-T, which is international. The dividend is safe but it could have a 20% correction from here. It is not a screaming buy although the yield is tough to replace.
banks
Kash Pashootan
$40.360
Unknown
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PARTIAL BUY

Dollarama Inc.(DOL-T)

07/03/2019
Dollarama Inc.
Reports on March 28th. He does not own it but it has been one of the darlings on the TSX this decade. It has its challenges. Last year we saw same store sales drop. It has come off its highs but is starting to rebound. 22 times price to earnings. The decline is not meaningful enough to back up the truck. Take a third or a half position. Be ready to buy on weakness.
Consumer Products
Kash Pashootan
$36.750
No
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DON'T BUY

Power Financial Corp(PWF-T)

07/03/2019
Power Financial Corp
It is a well established business. It is diversified. There is the wealth management business. The dividend is safe. The broad mutual fund business is under pressure. Buy it for yield but not for growth. See Canadian banks.
finance / leasing
Kash Pashootan
$29.790
Unknown
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BUY

Canadian Imperial Bank of Commerce(CM-T)

07/03/2019
Canadian Imperial Bank of Commerce
They are the most attractive from a valuation basis. 5% yield. Canadian banks above 5% yield are always a buy. CM-T has not participated in recent strength in banks. It’s a buying opportunity.
banks
Kash Pashootan
$112.330
Owned
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DON'T BUY

Toyota(TM-N)

07/03/2019
Toyota
He thinks the US economy is in a better shape than the Canadian. As you raise interest rates your currency gets stronger so he thinks the US$ will strengthen and US equities will strengthen. You need to be cautious with AUTOs. We are seeing a slowdown. Electrification and hybrid vehicles present uncertainty. He does not know where this company stands with electric vehicles.
Automotive
Kash Pashootan
$117.240
Unknown
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N/A

Geopolitical risk, BREXIT. Can low correlated assets become more correlated? (A Commentary)

07/03/2019
A Comment -- General Comments From an Expert
Geopolitical risk, BREXIT. Can low correlated assets become more correlated? He thinks so in public markets. Often when one market goes down, they all go down. You need to look at private assets.
Unknown
Kash Pashootan
N/A
Unknown
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PAST TOP PICK

Magna Int'l. (A)(MG-T)

07/03/2019
Magna Int'l. (A)
(A Top Pick Feb 06/18, Up 1%) You get the diversification when you own this. They are well positioned to where future growth is coming from. He continues to own it. It is not expensive and you get a reasonable dividend.
Automotive
Kash Pashootan
$67.380
Owned
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PAST TOP PICK

Broadcom(AVGO-Q)

07/03/2019
Broadcom
(A Top Pick Feb 06/18, Up 14%) They had challenges last year. There was one acquisition that failed and one that the market did not like. They bought CA and the stock was punished once again. Still they recovered from the lows. It makes sense on a long term basis. It is a top of class name.
0
Kash Pashootan
$265.510
Owned
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PAST TOP PICK

National Bank of Canada(NA-T)

07/03/2019
National Bank of Canada
(A Top Pick Feb 06/18, Up 3%) It was a value play. He is more excited now about the value of BNS-T and CM-T.
banks
Kash Pashootan
$61.850
Owned
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WATCH

Transcontinental Inc. (A)(TCL.A-T)

07/03/2019
Transcontinental Inc. (A)

It's down about 35% over 52 weeks. They were in the print business and transitioned away from print. They divested and reinvested in assets to be more established in the packaging space. Previous acquisitions have worked well. You have to have patience with it. The dividend is safe for the time being. They took on a lot of debt when they made the acquisition. It's early and it will take time.

publishing / printing
Kash Pashootan
$17.300
Owned
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BUY

TFI International Inc(TFII-T)

07/03/2019
TFI International Inc

They have done a great job. The earnings have grown but the multiple has not skyrocketed. You are not paying a major premium to own it here. It had a meaningful correction and he thinks there is more upside to be had. There is no reason to hold back from buying or adding to the position. It does not fit his portfolio at this time.

Transportation
Kash Pashootan
$39.500
No
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BUY ON WEAKNESS

Brookfield Property Partners(BPY.UN-T)

07/03/2019
Brookfield Property Partners
They have certainly executed but you are paying a premium for it. The chart looks like a 'V' and when this happens he gets concerned. (Analysts’ price target is $31.00)
REAL ESTATE
Kash Pashootan
$26.200
Unknown
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