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Today, John Kim commented about whether NPI-T, CVS-N, T-N, SNAP-N, AXP-N, MA-N, SHOP-T, HRL-N, ACB-T, SU-T, V-N, WIR.UN-T, LSPD-T, CIGI-T, BAC-N, FSV-T, MFC-T, C-N, TWTR-N, TCEHY-OTC, GOOG-Q, FNV-T, ATD.B-T are stocks to buy or sell.
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BAC vs. Citigroup if a recession happens He owns both, but he prefers Citigroup, because it has a lower valuation, trading below tangible book value and pays a higher dividend. Citi is viewed as an international bank, whereas BAC is viewed as American. The upside is better at Citi in the coming years.
FSV vs. CIGI He prefers First Service, which is less volatile and more sustainable. Colliers just let go of their head of real estate for misbehaviour, so there's management turmoil. In a recession, Colliers will get hit harder, because there will be fewer transactions in commercial real estate, which is Colliers' business.
BAC vs. Citigroup if a recession happens He owns both, but he prefers Citigroup, because it has a lower valuation, trading below tangible book value and pays a higher dividend. Citi is viewed as an international bank, whereas BAC is viewed as American. The upside is better at Citi in the coming years.
FSV vs. CIGI He prefers First Service, which is less volatile and more sustainable. Colliers just let go of their head of real estate for misbehaviour, so there's management turmoil. In a recession, Colliers will get hit harder, because there will be fewer transactions in commercial real estate, which is Colliers' business.
Up 100% since IPO 3 months ago. A new Shopify? He's a value manager and LSPD doesn't fit that. True, there are similarities to Shopify, though more towards retail and restaurants. They're marrying their restuarnts to the payments side. If you look at the payments space, then the valuations of all of them have surged a lot because people Will LSPD also surge like Shopify? Maybe, but beware of volatility.
For an RRSP? They own industrial real estate in the U.S. This space has caught investors' imaginations in Canada. This trades in US dollars, which scares off some investors. Good managers. The issue is that the cap rates of these stocks are really, really low; the rate of discounting future revenues, so the lower it is, the higher the value. So, if your cap rate is 5, all you'll see is a 5% return. So, these REITs are not cheap. But people want to invest in industrial REITs because of e-commerce giants like Amazon. WIR's valuation can't get any higher. The dividend is safe, but the stock may decrease if interest rates rise. That said, REITs benefit any portfolio. He may consider this at a lower price.
