Recent Opinions | StockChase

Opinions Table


Signal Opinion Expert
TOP PICK
GMP Capital Trust Inc(GMP-T) 

January 16, 2018

In 2 areas, wealth management via Richardson Securities and in commodities in terms of raising capital for mining organizations. A little over a year ago, they bought First Energy which got them into oil and gas, but now have also moved into cyber currencies, and into marijuana, 2 fast growing fields. Last quarter, they lost about $2.8 million, and revenues went down about 21%. Thinks this could be a very good year for them. A lot of their competition has fallen by the wayside and a lot have merged.

investment companies/funds

In 2 areas, wealth management via Richardson Securities and in commodities in terms of raising capital for mining organizations. A little over a year ago, they bought First Energy which got them into oil and gas, but now have also moved into cyber currencies, and into marijuana, 2 fast growing fields. Last quarter, they lost about $2.8 million, and revenues went down about 21%. Thinks this could be a very good year for them. A lot of their competition has fallen by the wayside and a lot have merged.

investment companies/funds
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$3.900
Owned Owned
Yes

COMMENT
Alphabet Inc. (A)(GOOGL-Q) 

January 16, 2018

Out of the FANG stocks, this is probably the one he likes the most. Long-term their position is pretty unassailable. They are the leader in search as well as a number of other businesses. It just continues to grow and put up more and more earnings. Starting to get a little pricey, but is still his favourite, and thinks it will go higher.

Business Services

Out of the FANG stocks, this is probably the one he likes the most. Long-term their position is pretty unassailable. They are the leader in search as well as a number of other businesses. It just continues to grow and put up more and more earnings. Starting to get a little pricey, but is still his favourite, and thinks it will go higher.

Business Services
Alex Ruus

Portfolio Manager, Arrow Capital Manage...

PricePrice
$1130.700
Owned Owned
Yes

SELL
Hasbro Inc(HAS-Q) 

January 16, 2018

A huge, huge toymaker. It had a phenomenal run, but has pulled back, but it’s not that far off historical highs. Insiders own about 10%, which is quite a bit in a company this size, but they've been selling a lot of shares, which is a negative indicator. Pays a good dividend. Makes money year after year after year, but has a big huge debt load. He would like to see them pay part of that off. The toy industry can be very cyclical. If he owned this, he would be selling it.

A huge, huge toymaker. It had a phenomenal run, but has pulled back, but it’s not that far off historical highs. Insiders own about 10%, which is quite a bit in a company this size, but they've been selling a lot of shares, which is a negative indicator. Pays a good dividend. Makes money year after year after year, but has a big huge debt load. He would like to see them pay part of that off. The toy industry can be very cyclical. If he owned this, he would be selling it.

0
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$91.390
Owned Owned
No

COMMENT

Crypto currency and Bitcoin is a brand-new field. You are seeing a huge proliferation of companies. The question is, who is going to survive. He doesn't know this company, but does know the space reasonably well, and you have to choose very, very wisely. There is a bubble going on here. If people choose the wrong companies, they are going to lose a lot of money. Blockchain is here to stay, and that makes sense. Look carefully at the balance sheet, income statement and management.

Crypto currency and Bitcoin is a brand-new field. You are seeing a huge proliferation of companies. The question is, who is going to survive. He doesn't know this company, but does know the space reasonably well, and you have to choose very, very wisely. There is a bubble going on here. If people choose the wrong companies, they are going to lose a lot of money. Blockchain is here to stay, and that makes sense. Look carefully at the balance sheet, income statement and management.

0
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.960
Owned Owned
Unknown

TOP PICK
Magna Int'l. (A)(MG-T) 

January 16, 2018

Regarding concerns on NAFTA, no one knows what Trump is going to do. He thinks it is a bit of a red herring. Behind the scenes there is a lot of support. 95% of US businesses want to keep NAFTA in place. There is already a NAFTA discount in the whole auto sector, which has created really cheap valuations. This is trading at 7X earnings. Thinks it continues to grow at double digits for the next several years, even in a flat to slightly down North American auto market. It is a leader in autonomous driving technology. Dividend yield of 1.9%. (Analysts' price target is $65.)

Automotive

Regarding concerns on NAFTA, no one knows what Trump is going to do. He thinks it is a bit of a red herring. Behind the scenes there is a lot of support. 95% of US businesses want to keep NAFTA in place. There is already a NAFTA discount in the whole auto sector, which has created really cheap valuations. This is trading at 7X earnings. Thinks it continues to grow at double digits for the next several years, even in a flat to slightly down North American auto market. It is a leader in autonomous driving technology. Dividend yield of 1.9%. (Analysts' price target is $65.)

Automotive
Alex Ruus

Portfolio Manager, Arrow Capital Manage...

PricePrice
$72.200
Owned Owned
Yes

PAST TOP PICK
Microsoft(MSFT-Q) 

January 16, 2018

(A Top Pick May 15/17. Up 32%.) Struggled for about 10 years, and then started turning in 2009-2010. They've restructured and jumped on the web business, and things have gone well ever since. Business is accelerating now and it is growing faster than a lot of their historical business models. Still has about a 6% free cash flow yield, that is very attractive for a software company. It’s still undervalued and has another 10%-20% to go.

computer software/processing

(A Top Pick May 15/17. Up 32%.) Struggled for about 10 years, and then started turning in 2009-2010. They've restructured and jumped on the web business, and things have gone well ever since. Business is accelerating now and it is growing faster than a lot of their historical business models. Still has about a 6% free cash flow yield, that is very attractive for a software company. It’s still undervalued and has another 10%-20% to go.

computer software/processing
Alex Ruus

Portfolio Manager, Arrow Capital Manage...

PricePrice
$88.350
Owned Owned
Yes

COMMENT
Nemaska Lithium Inc.(NMX-T) 

January 16, 2018

Lithium, a number of years ago, was very, very popular. Then the lithium market pretty much died. It’s now coming back because of cars. He doesn't know this company, but in this field you have to be wary.

Mining

Lithium, a number of years ago, was very, very popular. Then the lithium market pretty much died. It’s now coming back because of cars. He doesn't know this company, but in this field you have to be wary.

Mining
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.040
Owned Owned
No

PAST TOP PICK
Obsidian Energy(OBE-T) 

January 16, 2018

(A Top Pick Feb 7/17. Down 27%.) Just came out with results yesterday, and had some good results in the Cardium, one of their 3 areas. Have had difficulties in the past with the SEC, and settled a while ago for $48.6 million. If this gets put in play. He thinks they are looking at double digit growth in terms of output. Still has a big debt load relative to revenues. A good turnaround opportunity, and could end up doing very well.

oil/gas

(A Top Pick Feb 7/17. Down 27%.) Just came out with results yesterday, and had some good results in the Cardium, one of their 3 areas. Have had difficulties in the past with the SEC, and settled a while ago for $48.6 million. If this gets put in play. He thinks they are looking at double digit growth in terms of output. Still has a big debt load relative to revenues. A good turnaround opportunity, and could end up doing very well.

oil/gas
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.520
Owned Owned
Yes

COMMENT
Oracle(ORCL-N) 

January 16, 2018

The world's largest provider of database software. Historically it’s been a great company. Another good software company that produces a wall of free cash flow. Has had a good run over the last year and is not as cheap as it used to be. Prefers Microsoft (MSFT-Q), but it is a good solid company. As a lot of business evolves to more Web services, they are potentially going to be under pressure. Meanwhile they continue to produce a lot of free cash flow. He would rate this as a Hold to a Weak Buy.

computer software/processing

The world's largest provider of database software. Historically it’s been a great company. Another good software company that produces a wall of free cash flow. Has had a good run over the last year and is not as cheap as it used to be. Prefers Microsoft (MSFT-Q), but it is a good solid company. As a lot of business evolves to more Web services, they are potentially going to be under pressure. Meanwhile they continue to produce a lot of free cash flow. He would rate this as a Hold to a Weak Buy.

computer software/processing
Alex Ruus

Portfolio Manager, Arrow Capital Manage...

PricePrice
$49.590
Owned Owned
No

COMMENT
Pengrowth Energy(PGF-T) 

January 16, 2018

He is underwater with this. He likes to think it is going to turn, and he’s willing to hold on. They paid down an awful lot of debt. It seems like a good speculative play, but he isn’t willing to put more money into it.

oil/gas

He is underwater with this. He likes to think it is going to turn, and he’s willing to hold on. They paid down an awful lot of debt. It seems like a good speculative play, but he isn’t willing to put more money into it.

oil/gas
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.030
Owned Owned
Yes

TOP PICK
Quarterhill Inc(QTRH-T) 

January 16, 2018

A patent troll, and has done a deal with Samsung, Kyocera and just bought a bunch of patents from Panasonic. They've expanded into the Internet of things and did 2 big takeovers last year, which meant their cash hoard went down from $100 million to $40 million. Just hired David Parker, a Senior VP at OpenText, and under him have done $2.5 billion of acquisitions. Thinks this is in an expansion mode. They've earned about $22 million. Dividend yield of 2.2%. (Analysts' price target is $3.)

electrical/electronic

A patent troll, and has done a deal with Samsung, Kyocera and just bought a bunch of patents from Panasonic. They've expanded into the Internet of things and did 2 big takeovers last year, which meant their cash hoard went down from $100 million to $40 million. Just hired David Parker, a Senior VP at OpenText, and under him have done $2.5 billion of acquisitions. Thinks this is in an expansion mode. They've earned about $22 million. Dividend yield of 2.2%. (Analysts' price target is $3.)

electrical/electronic
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.340
Owned Owned
Yes

COMMENT

Bought this a couple of years ago at $3.81. It had a nice run, and thought about selling, but didn't. Pays a dividend of $.05 a quarter. Recently, everything they have has been doing better. Market share has gone up a bit, their online has gone up, same-store sales have gone up quite a bit, but their overall revenues have gone down because they’ve closed a lot of stores. Have had quite a lot of problems with addition L, so have taken big write offs there, which made the previous black ink red. Where they are going to go with this chain, he isn’t sure. He’s happy to continue holding. His initial sell target was $15+, but wonders if that is way too high.

clothing stores

Bought this a couple of years ago at $3.81. It had a nice run, and thought about selling, but didn't. Pays a dividend of $.05 a quarter. Recently, everything they have has been doing better. Market share has gone up a bit, their online has gone up, same-store sales have gone up quite a bit, but their overall revenues have gone down because they’ve closed a lot of stores. Have had quite a lot of problems with addition L, so have taken big write offs there, which made the previous black ink red. Where they are going to go with this chain, he isn’t sure. He’s happy to continue holding. His initial sell target was $15+, but wonders if that is way too high.

clothing stores
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$4.360
Owned Owned
Yes

COMMENT
Transalta Renewables(RNW-T) 

January 16, 2018

This holds the majority of TransAlta's (TA-T) power generation assets. It’s a little interest rate sensitive. The renewable area is an area of growing presence. Given the new policies under the Alberta NDP government, renewable assets are probably worth more today than they were before. He would consider this as a Hold to a Buy.

Energy Infrastructure, Industrials & Utilities

This holds the majority of TransAlta's (TA-T) power generation assets. It’s a little interest rate sensitive. The renewable area is an area of growing presence. Given the new policies under the Alberta NDP government, renewable assets are probably worth more today than they were before. He would consider this as a Hold to a Buy.

Energy Infrastructure, Industrials & Utilities
Alex Ruus

Portfolio Manager, Arrow Capital Manage...

PricePrice
$13.030
Owned Owned
Unknown

COMMENT
Ruby Tuesday(RT-N) 

January 16, 2018

Whenever you go into the restaurant space, it’s a very, very competitive sphere. He is wary of that kind of thing. Right now, we are seeing a lot of takeovers and mergers, and thinks this is in that mix to some degree. It’s on his watch list, but not a company he is willing to buy at this time.

food services

Whenever you go into the restaurant space, it’s a very, very competitive sphere. He is wary of that kind of thing. Right now, we are seeing a lot of takeovers and mergers, and thinks this is in that mix to some degree. It’s on his watch list, but not a company he is willing to buy at this time.

food services
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.400
Owned Owned
No

PARTIAL SELL
Shopify Inc.(SHOP-T) 

January 16, 2018

A very solid, up-and-coming Canadian tech company that is pretty established in their niche, and just emerging into profitability. However, the near-term opportunity is gone. It is probably into a 2-3 year period of backfilling of valuation now. They are going to have to produce some profits to backfill the $10 billion valuation they've received. He would look elsewhere. If you own, consider taking a few profits.

A very solid, up-and-coming Canadian tech company that is pretty established in their niche, and just emerging into profitability. However, the near-term opportunity is gone. It is probably into a 2-3 year period of backfilling of valuation now. They are going to have to produce some profits to backfill the $10 billion valuation they've received. He would look elsewhere. If you own, consider taking a few profits.

0
Alex Ruus

Portfolio Manager, Arrow Capital Manage...

PricePrice
$139.130
Owned Owned
Unknown

COMMENT
Toronto Dominion(TD-T) 

January 16, 2018

There are no Canadian banks he is interested in. They've had a phenomenal run. He can see how people might want to buy into the Preferreds. An area he is looking at more and more are preferred shares, as a defensive option. At some point, markets are going to get hit badly, and preferreds are a good place to go, especially if you can buy them under the issue price.

banks

There are no Canadian banks he is interested in. They've had a phenomenal run. He can see how people might want to buy into the Preferreds. An area he is looking at more and more are preferred shares, as a defensive option. At some point, markets are going to get hit badly, and preferreds are a good place to go, especially if you can buy them under the issue price.

banks
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$73.320
Owned Owned
No

COMMENT
TransCanada Corp(TRP-T) 

January 16, 2018

Over the last 2-3 years, this has had a pretty good run. Had a pullback in the last 6 months, but longer-term it’s a good opportunity. Pipelines tend to be more stable assets that benefit you when the market goes down. When we go into recession, these assets will hold up because it is a pretty steady business. A lot of institutional managers are taking there weighting down a little, so in the short term there has been some pressure for underperformance in the sector. Long-term, this is a good sector to invest in.

oil/gas pipelines

Over the last 2-3 years, this has had a pretty good run. Had a pullback in the last 6 months, but longer-term it’s a good opportunity. Pipelines tend to be more stable assets that benefit you when the market goes down. When we go into recession, these assets will hold up because it is a pretty steady business. A lot of institutional managers are taking there weighting down a little, so in the short term there has been some pressure for underperformance in the sector. Long-term, this is a good sector to invest in.

oil/gas pipelines
Alex Ruus

Portfolio Manager, Arrow Capital Manage...

PricePrice
$59.720
Owned Owned
Unknown

TOP PICK

The world's largest package document/delivery company. A clear beneficiary of what is happening with everybody's purchasing behaviour. Produces a lot of free cash flow. Dividend yield 2.5%. (Analysts' price target is $130.)

Transportation

The world's largest package document/delivery company. A clear beneficiary of what is happening with everybody's purchasing behaviour. Produces a lot of free cash flow. Dividend yield 2.5%. (Analysts' price target is $130.)

Transportation
Alex Ruus

Portfolio Manager, Arrow Capital Manage...

PricePrice
$132.880
Owned Owned
Yes

N/A
General Market Comment 

January 15, 2018

Market.  He is bullish on natural gas and weary on oil.  When we have winter things change very quickly.  Mother nature takes down storage so quickly that it changes fundamentals very quickly.  The price chart spiked up quickly in the winter of 2014.  It is these weeks of 200 BCF draw downs that do it.  It is again cool and if we have another cold spurt, every time you have had 4 historically, you have a spike up to $5 for gas.  If cold weather persists we will see $3-$3.50 for gas.  He is bearish on oil because US production will get back up overly quickly.  ECA-T is saying they increased production 30% and will do so another 30% this year.  OPEC is cheating.  It is a percentage of honesty.  They are producing more than quota already.  Iraq has to get money in the door to perform repairs to the country.  More capacity has to come online.

Market.  He is bullish on natural gas and weary on oil.  When we have winter things change very quickly.  Mother nature takes down storage so quickly that it changes fundamentals very quickly.  The price chart spiked up quickly in the winter of 2014.  It is these weeks of 200 BCF draw downs that do it.  It is again cool and if we have another cold spurt, every time you have had 4 historically, you have a spike up to $5 for gas.  If cold weather persists we will see $3-$3.50 for gas.  He is bearish on oil because US production will get back up overly quickly.  ECA-T is saying they increased production 30% and will do so another 30% this year.  OPEC is cheating.  It is a percentage of honesty.  They are producing more than quota already.  Iraq has to get money in the door to perform repairs to the country.  More capacity has to come online.

Unknown
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

January 15, 2018

Market.  Into 2018 the expectation for earnings growth is very high.  It looks like the markets could creep higher but we could start to see more volatility in them.  You have to be cautious on the market.  Analysts can tend to be overly optimistic on companies they follow.  A weaker US$ which we continue to see is good for corporate US earnings.  Gold is a range trade for a number of years.  He thinks we may get a bit of a breakout to the upside.  He has been adding gold positions on weakness.  A new survey on the ability of Canadians to service indebtedness may cause the BOC to be a bit dovish this week and to hold off on more increases for a year.

Market.  Into 2018 the expectation for earnings growth is very high.  It looks like the markets could creep higher but we could start to see more volatility in them.  You have to be cautious on the market.  Analysts can tend to be overly optimistic on companies they follow.  A weaker US$ which we continue to see is good for corporate US earnings.  Gold is a range trade for a number of years.  He thinks we may get a bit of a breakout to the upside.  He has been adding gold positions on weakness.  A new survey on the ability of Canadians to service indebtedness may cause the BOC to be a bit dovish this week and to hold off on more increases for a year.

Unknown
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$0.020
Owned Owned
_N/A

DON'T BUY
General Market Comment 

January 15, 2018

Zinc.  From the beginning of where Trump was elected we saw a dramatic change in US$ expectations.  This put a lot of upside price pressure on many commodities around the world, Zinc especially.  He believes the US$ will not continue to weaken in a big way from where it is today.  He would not chase base metals here.  We are in the last leg of the uptrend in base metals.

Zinc.  From the beginning of where Trump was elected we saw a dramatic change in US$ expectations.  This put a lot of upside price pressure on many commodities around the world, Zinc especially.  He believes the US$ will not continue to weaken in a big way from where it is today.  He would not chase base metals here.  We are in the last leg of the uptrend in base metals.

Unknown
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

January 15, 2018

Educational Segment.  US$ exposure in your portfolio.  There is a perfect storm brewing: What the BOC will do, NAFTA, oil prices.  There is Canadian dollar risk.  He is fully exposed to the US$ at $0.80.  There is an 85% change they will raise rates in Canada on Wednesday.  The NAFTA agreement will allow Trump to cause a lot of problems without ripping it up.  He will use this against Mexico because he wants his wall.  There is a housing risk in Canada with the new rules combining with higher interest rates.  The Canadian dollar should be weaker rather than stronger.  Oil prices are being driven by the weaker US$.  He thinks they will pull back into the mid-$50s.  Go unhedged in ETFs for the next 6 months.

Educational Segment.  US$ exposure in your portfolio.  There is a perfect storm brewing: What the BOC will do, NAFTA, oil prices.  There is Canadian dollar risk.  He is fully exposed to the US$ at $0.80.  There is an 85% change they will raise rates in Canada on Wednesday.  The NAFTA agreement will allow Trump to cause a lot of problems without ripping it up.  He will use this against Mexico because he wants his wall.  There is a housing risk in Canada with the new rules combining with higher interest rates.  The Canadian dollar should be weaker rather than stronger.  Oil prices are being driven by the weaker US$.  He thinks they will pull back into the mid-$50s.  Go unhedged in ETFs for the next 6 months.

Unknown
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

January 15, 2018

Market. This is one of the great Bull Markets of our lifetime. The global economies are booming, the US has increased its GDP forecasts, Europe is actually stronger than North America for the 1st time in a long time, and emerging markets are doing very well. We are in a Goldilocks environment. Haven't been here since the 1990s, so just lie back and enjoy it. Warren Buffett explained that the tax cuts are giving every stockholder a 20% increase in the value of their shares. That is going to propel markets for another year. He is quite sure we are going to see earnings surprises continue through the 1st half of next year anyway.

Market. This is one of the great Bull Markets of our lifetime. The global economies are booming, the US has increased its GDP forecasts, Europe is actually stronger than North America for the 1st time in a long time, and emerging markets are doing very well. We are in a Goldilocks environment. Haven't been here since the 1990s, so just lie back and enjoy it. Warren Buffett explained that the tax cuts are giving every stockholder a 20% increase in the value of their shares. That is going to propel markets for another year. He is quite sure we are going to see earnings surprises continue through the 1st half of next year anyway.

Unknown
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$0.020
Owned Owned
_N/A

COMMENT
Apple(AAPL-Q) 

January 15, 2018

This won't be a 25% grower any more, but it should still get 5%-15% over the next couple of years. You have the tax rate which will flow through them, they're bringing back a lot of foreign money which will allow for share buybacks and possibly dividends. There is the continuous upgrade of the iPhone. This company is a fine hold for the next 5 years.

electrical/electronic

This won't be a 25% grower any more, but it should still get 5%-15% over the next couple of years. You have the tax rate which will flow through them, they're bringing back a lot of foreign money which will allow for share buybacks and possibly dividends. There is the continuous upgrade of the iPhone. This company is a fine hold for the next 5 years.

electrical/electronic
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$177.090
Owned Owned
Yes

BUY
American Tower(AMT-N) 

January 15, 2018

Owns cell towers in the US. Did extremely well for quite a while. Believes it has big exposure in Mexico. As we move into 5G coverage, more and more cell towers are needed. The opportunity for these companies to put in more towers is huge. They are expensive stocks, but if you want pure growth where you can sleep well at night, this is one. Buy and hold, and you will be fine in the long run.

Telecommunications

Owns cell towers in the US. Did extremely well for quite a while. Believes it has big exposure in Mexico. As we move into 5G coverage, more and more cell towers are needed. The opportunity for these companies to put in more towers is huge. They are expensive stocks, but if you want pure growth where you can sleep well at night, this is one. Buy and hold, and you will be fine in the long run.

Telecommunications
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$133.000
Owned Owned
Unknown

COMMENT

An income fund and pays a royalty off sales. They are gaining market share in Canada. They are under-stored, so there are opportunities. Income funds will continue to move up and pay gradual higher dividends. Dividend yield of 4.8%.

investment companies/funds

An income fund and pays a royalty off sales. They are gaining market share in Canada. They are under-stored, so there are opportunities. Income funds will continue to move up and pay gradual higher dividends. Dividend yield of 4.8%.

investment companies/funds
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$33.710
Owned Owned
Unknown

WATCH
Blackbird Energy Inc(BBI-X) 

January 15, 2018

He met with management last year.  They will go from 2000 to 10,000 BOEs capacity in 2019.  They are bringing on wells as economically as possible.  By Q1’19 they want to be ready.  He likes what he has seen in the company.

Energy

He met with management last year.  They will go from 2000 to 10,000 BOEs capacity in 2019.  They are bringing on wells as economically as possible.  By Q1’19 they want to be ready.  He likes what he has seen in the company.

Energy
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$0.345
Owned Owned
Unknown

COMMENT
BCE Inc.(BCE-T) 

January 15, 2018

We have a stronger business market, and with business activity picking up it might be a little better for them, but at the same time you have got higher interest rates, and they have a chunk of the sports business, which is slowing down. He wouldn't be afraid of this. They’ve raised the dividend every year, and expects they will do it again this year.

telephone utilities

We have a stronger business market, and with business activity picking up it might be a little better for them, but at the same time you have got higher interest rates, and they have a chunk of the sports business, which is slowing down. He wouldn't be afraid of this. They’ve raised the dividend every year, and expects they will do it again this year.

telephone utilities
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$58.110
Owned Owned
No

PAST TOP PICK

(A Top Pick Jun 12/17, Down 39%)  He added it December but it has not done anything yet.  It could turn around quite quickly.

oil/gas

(A Top Pick Jun 12/17, Down 39%)  He added it December but it has not done anything yet.  It could turn around quite quickly.

oil/gas
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$3.660
Owned Owned
No

PAST TOP PICK

(A Top Pick April 19/17. Up 11%.) He still likes this. It’s selling at 11-12X earnings. Has a 4% dividend. They are probably going to sell more electric cars then Tesla this year. Trading at 12X earnings. This should move to €100-110 in the next year or so.

Automotive

(A Top Pick April 19/17. Up 11%.) He still likes this. It’s selling at 11-12X earnings. Has a 4% dividend. They are probably going to sell more electric cars then Tesla this year. Trading at 12X earnings. This should move to €100-110 in the next year or so.

Automotive
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$0.000
Owned Owned
Yes

TOP PICK
Bonavista Energy Corp(BNP-T) 

January 15, 2018

Management has done a good job.  71% natural gas.  They pay a dividend.  Book value is $6.63.  (Analysts’ target: $3.00).

oil/gas

Management has done a good job.  71% natural gas.  They pay a dividend.  Book value is $6.63.  (Analysts’ target: $3.00).

oil/gas
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$2.010
Owned Owned
Yes

TOP PICK

75% Nat Gas.  Spirit river play.  Their book value is $15.93.  It has already had a bounce since tax loss selling ended.  (Analysts’ target: $2.75).

oil/gas

75% Nat Gas.  Spirit river play.  Their book value is $15.93.  It has already had a bounce since tax loss selling ended.  (Analysts’ target: $2.75).

oil/gas
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$2.040
Owned Owned
Yes

PAST TOP PICK
Celgene Corp(CELG-Q) 

January 15, 2018

(A Top Pick April 19/17. Down 14%.) This shot up to about $140, but a key new drug application was denied. That was followed by them announcing that their 3rd quarter was a little more difficult. They still have a plethora of new drug applications, and is still one of the hottest stocks in the sector. A very solid company.

Consumer Products

(A Top Pick April 19/17. Down 14%.) This shot up to about $140, but a key new drug application was denied. That was followed by them announcing that their 3rd quarter was a little more difficult. They still have a plethora of new drug applications, and is still one of the hottest stocks in the sector. A very solid company.

Consumer Products
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$106.000
Owned Owned
Yes

PARTIAL BUY
Cineplex Inc(CGX-T) 

January 15, 2018

This is a conundrum. You have strong management who bought up Canadian theatre chains, and did a great job of maximizing it. The valuation got to be very high. Then we had a tough movie season last year. That is what we are struggling with. Great management usually solves problems and figure out how to drive on. He wouldn't be afraid of this, but you might want to enter this on a series of purchases. Not a cheap stock.

other services

This is a conundrum. You have strong management who bought up Canadian theatre chains, and did a great job of maximizing it. The valuation got to be very high. Then we had a tough movie season last year. That is what we are struggling with. Great management usually solves problems and figure out how to drive on. He wouldn't be afraid of this, but you might want to enter this on a series of purchases. Not a cheap stock.

other services
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$32.500
Owned Owned
Unknown

COMMENT

He likes the stock.  Book value is $16.95 and it is trading at $11.50.  Debt load not bad.  It has been hammered because volumes have not increased.  Stock issues were made when they said they would not do them.  Debt went up in 2017. 

oil/gas

He likes the stock.  Book value is $16.95 and it is trading at $11.50.  Debt load not bad.  It has been hammered because volumes have not increased.  Stock issues were made when they said they would not do them.  Debt went up in 2017. 

oil/gas
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$11.480
Owned Owned
Unknown

COMMENT
Capital Power(CPX-T) 

January 15, 2018

He likes this. The Alberta power market is coming back. Had a lot of dislocation in Alberta over the past several years, because it built too much capacity. They went down and then moved to a lot of renewables. Shut down the big Sundance power plant. Thinks power prices in Alberta will come back, so this should come back. The short-term weakness is probably just market rotation. Should be a great investment long-term. Dividend yield of 7%+.

electrical utilities

He likes this. The Alberta power market is coming back. Had a lot of dislocation in Alberta over the past several years, because it built too much capacity. They went down and then moved to a lot of renewables. Shut down the big Sundance power plant. Thinks power prices in Alberta will come back, so this should come back. The short-term weakness is probably just market rotation. Should be a great investment long-term. Dividend yield of 7%+.

electrical utilities
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$23.720
Owned Owned
Yes

TOP PICK
Crew Energy Inc.(CR-T) 

January 15, 2018

74% natural gas.  They just added another facility.  Book value was $5.70.

oil/gas

74% natural gas.  They just added another facility.  Book value was $5.70.

oil/gas
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$2.850
Owned Owned
Yes

COMMENT

Some new hospitals coming into their areas were challenging this company's existing facilities, and the stock dropped substantially. He started buying it below $15. Likes the dividend yield, and doesn't think it will get cut. Just announced an acquisition of some US properties. Dividend yield of close to 9%.

other services

Some new hospitals coming into their areas were challenging this company's existing facilities, and the stock dropped substantially. He started buying it below $15. Likes the dividend yield, and doesn't think it will get cut. Just announced an acquisition of some US properties. Dividend yield of close to 9%.

other services
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$13.960
Owned Owned
Yes

COMMENT
Enbridge(ENB-T) 

January 15, 2018

Pipelines? Canada is producing way more oil than what we can get out, so there is a long-term demand for pipeline capacity. Because of a tight Canadian market, they are expensive on a global basis. This one has made big US acquisitions, because US companies are cheaper. The outlook for projects in all these companies is very strong. You should be fine in any of them.

oil/gas pipelines

Pipelines? Canada is producing way more oil than what we can get out, so there is a long-term demand for pipeline capacity. Because of a tight Canadian market, they are expensive on a global basis. This one has made big US acquisitions, because US companies are cheaper. The outlook for projects in all these companies is very strong. You should be fine in any of them.

oil/gas pipelines
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$49.700
Owned Owned
Unknown

COMMENT

The only public company that is a coil tubing operator.  Book value is $1.16 so it is trading at a discount.  They won a recent patent suit.  He recommends it and likes the story.  His only hesitation is that these companies have to tell their story.  These guys are reclusive in this respect.

oil/gas

The only public company that is a coil tubing operator.  Book value is $1.16 so it is trading at a discount.  They won a recent patent suit.  He recommends it and likes the story.  His only hesitation is that these companies have to tell their story.  These guys are reclusive in this respect.

oil/gas
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$0.820
Owned Owned
Unknown

COMMENT
Extendicare Inc(EXE-T) 

January 15, 2018

There is only coverage from a couple of firms.  He is not sure what caused the August drop.  (Analysts’ target: $9.67).

other services

There is only coverage from a couple of firms.  He is not sure what caused the August drop.  (Analysts’ target: $9.67).

other services
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$8.640
Owned Owned
Unknown

PAST TOP PICK
Facebook(FB-Q) 

January 15, 2018

(A Top Pick April 19/17. Up 26%.) One of the stocks you have to own. They are capturing market share and growing rapidly. Growing at about 50% per annum.

(A Top Pick April 19/17. Up 26%.) One of the stocks you have to own. They are capturing market share and growing rapidly. Growing at about 50% per annum.

0
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$179.370
Owned Owned
Yes

COMMENT
CGI Group (A)(GIB.A-T) 

January 15, 2018

An extremely well-managed company, and they’ve gone from just being a Canadian regional company in the late 90s, to being one of the global giants in outsourcing of IT. Have made a lot of acquisitions and integrated them well. Expects they will continue doing so. One of the few Canadian technology companies that is big and global, and a core holding in most Canadian institutional portfolios. Thinks it will gradual move upward for quite a while.

consulting

An extremely well-managed company, and they’ve gone from just being a Canadian regional company in the late 90s, to being one of the global giants in outsourcing of IT. Have made a lot of acquisitions and integrated them well. Expects they will continue doing so. One of the few Canadian technology companies that is big and global, and a core holding in most Canadian institutional portfolios. Thinks it will gradual move upward for quite a while.

consulting
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$67.370
Owned Owned
Unknown

WATCH

He likes the company.  Junior oils have lost interest with investors.  He would watch it and buy it if it backs off.

oil/gas

He likes the company.  Junior oils have lost interest with investors.  He would watch it and buy it if it backs off.

oil/gas
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$3.690
Owned Owned
Unknown

BUY
Horizons S&P 500(HXS-T) 

January 15, 2018

HXS-T and HXT-T in a non-registered account.  He likes this strategy based on a total return swap.  You only pay capital gains tax.  There is no distribution.  If you believe the markets will go higher for a number of years these are great instruments.  A buy and hold for many years.

E.T.F.'s

HXS-T and HXT-T in a non-registered account.  He likes this strategy based on a total return swap.  You only pay capital gains tax.  There is no distribution.  If you believe the markets will go higher for a number of years these are great instruments.  A buy and hold for many years.

E.T.F.'s
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$65.150
Owned Owned
Unknown

BUY

HXS-T and HXT-T in a non-registered account.  He likes this strategy based on a total return swap.  You only pay capital gains tax.  There is no distribution.  If you believe the markets will go higher for a number of years these are great instruments.  A buy and hold for many years.

E.T.F.'s

HXS-T and HXT-T in a non-registered account.  He likes this strategy based on a total return swap.  You only pay capital gains tax.  There is no distribution.  If you believe the markets will go higher for a number of years these are great instruments.  A buy and hold for many years.

E.T.F.'s
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$33.840
Owned Owned
Unknown

COMMENT

A great little company that basically operates in an oligopoly with 3M's Scotch tape. With the move of Amazon and all the shipping, the amount of tape being sold is increasing. Instead of shipping in containers, stores are now shipping in small packages. A fine little growth company and has good management.

packaging/containers

A great little company that basically operates in an oligopoly with 3M's Scotch tape. With the move of Amazon and all the shipping, the amount of tape being sold is increasing. Instead of shipping in containers, stores are now shipping in small packages. A fine little growth company and has good management.

packaging/containers
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$22.530
Owned Owned
Yes

COMMENT
Manulife Financial(MFC-T) 

January 15, 2018

Lifecos are widely believed to be the biggest beneficiaries of higher interest rates, due to large amount of long-term assets they hold, and that they discount their policies. There have been some strong recommendations by brokers on these companies this year. This one has struggled with its debacle in 2008 and then we saw the fortress balance sheet being built. When they do that, they are not taking aggressive action to grow. This has now recovered and is now focusing on their stronger assets, which is Asia. However, there are $2 billion of tax losses they have to forgo because of the change in tax legislation in the US. $30 - $32 would be his target for 12 months.

insurance

Lifecos are widely believed to be the biggest beneficiaries of higher interest rates, due to large amount of long-term assets they hold, and that they discount their policies. There have been some strong recommendations by brokers on these companies this year. This one has struggled with its debacle in 2008 and then we saw the fortress balance sheet being built. When they do that, they are not taking aggressive action to grow. This has now recovered and is now focusing on their stronger assets, which is Asia. However, there are $2 billion of tax losses they have to forgo because of the change in tax legislation in the US. $30 - $32 would be his target for 12 months.

insurance
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$27.420
Owned Owned
Yes

DON'T BUY
Martinrea(MRE-T) 

January 15, 2018

It has taken off pretty significantly in the last number of months.  Looking at the 10 year picture, it has broken out here.  It would be bad news if it dropped back into the range it broke out of.  It has to stay above $14 and then there will be room to the upside.  This could waver a bit based on what happens with NAFTA.

metal fabricators

It has taken off pretty significantly in the last number of months.  Looking at the 10 year picture, it has broken out here.  It would be bad news if it dropped back into the range it broke out of.  It has to stay above $14 and then there will be room to the upside.  This could waver a bit based on what happens with NAFTA.

metal fabricators
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$15.460
Owned Owned
Unknown

TOP PICK
Microsoft(MSFT-Q) 

January 15, 2018

Under the new CEO, the company has been turned around. They’ve entered into the Cloud computing business, and with their domination of small businesses, which is moving into the Cloud, this is the natural one to go for. Thinks it can go through $100. Dividend yield of 1.9%. (Analysts' price target is $94.)

computer software/processing

Under the new CEO, the company has been turned around. They’ve entered into the Cloud computing business, and with their domination of small businesses, which is moving into the Cloud, this is the natural one to go for. Thinks it can go through $100. Dividend yield of 1.9%. (Analysts' price target is $94.)

computer software/processing
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$89.600
Owned Owned
Yes

TOP PICK
Netflix Inc.(NFLX-Q) 

January 15, 2018

There are 1.5 billion TVs globally, and there are 1.2 billion cable connections. This company has about 100 million subscribers and has 1st mover advantage. Their cash flow is long to produce the shows, and get ahead of everybody else, and catching them is going to be very difficult. (Analysts' price target is $225.)

There are 1.5 billion TVs globally, and there are 1.2 billion cable connections. This company has about 100 million subscribers and has 1st mover advantage. Their cash flow is long to produce the shows, and get ahead of everybody else, and catching them is going to be very difficult. (Analysts' price target is $225.)

Unknown
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$221.230
Owned Owned
Yes

COMMENT
Nutrien Ltd.(NTR-T) 

January 15, 2018

Corn can be used to make oil or feed cattle, so corn prices are not what they used to be. It was as high as $8, but with oil prices coming back it has dropped. There is less incentive for farmers to lay nitrogen to increase production. Also, there is excess capacity in potash. He worries about this, because you can't forecast in the longer sense.

agriculture

Corn can be used to make oil or feed cattle, so corn prices are not what they used to be. It was as high as $8, but with oil prices coming back it has dropped. There is less incentive for farmers to lay nitrogen to increase production. Also, there is excess capacity in potash. He worries about this, because you can't forecast in the longer sense.

agriculture
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$66.500
Owned Owned
Unknown

COMMENT
Novo-Nordisk(NVO-N) 

January 15, 2018

Has a great lineup of new products coming. They own the insulin market globally, and is the #1 provider in the world, and the leader in technology on insulin. Given the trends of diabetes in the world, that is going to be a growing business. A slower growth health care stock that you can hold and get your 3%-5% dividend yield along with another 5%-10% earnings growth. You’ll do just fine.

biotechnology/pharmaceutical

Has a great lineup of new products coming. They own the insulin market globally, and is the #1 provider in the world, and the leader in technology on insulin. Given the trends of diabetes in the world, that is going to be a growing business. A slower growth health care stock that you can hold and get your 3%-5% dividend yield along with another 5%-10% earnings growth. You’ll do just fine.

biotechnology/pharmaceutical
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$55.040
Owned Owned
Unknown

TOP PICK
Newell Brands Inc(NWL-N) 

January 15, 2018

Recommended this in the fall, but was a little too early. The hurricane hit their supply, then they had a bad 3rd quarter. Their brands are still strong globally, and thinks the stock is going to head back to the $40-$50 where it came from. Dividend yield of 2.9%. (Analysts' price target is $35.)

misc consumer products

Recommended this in the fall, but was a little too early. The hurricane hit their supply, then they had a bad 3rd quarter. Their brands are still strong globally, and thinks the stock is going to head back to the $40-$50 where it came from. Dividend yield of 2.9%. (Analysts' price target is $35.)

misc consumer products
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$32.260
Owned Owned
Yes

DON'T BUY
Precision Drilling(PD-T) 

January 15, 2018

He prefers Trinidad.  The PD-T debt is his concern.  The company is focusing on paying down debt, however.  On a cash flow multiple basis it is cheap and it trades at a discount to book value. 

oil/gas field services

He prefers Trinidad.  The PD-T debt is his concern.  The company is focusing on paying down debt, however.  On a cash flow multiple basis it is cheap and it trades at a discount to book value. 

oil/gas field services
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$4.670
Owned Owned
Unknown

DON'T BUY

Last week they announced a cut in the dividend and a cut in the cap-x program.  They are going to try to keep production flat.  $10.12 book value.  The balance sheet debt is a concern.  It still trades above book value.  The numbers don’t make sense.

oil/gas

Last week they announced a cut in the dividend and a cut in the cap-x program.  They are going to try to keep production flat.  $10.12 book value.  The balance sheet debt is a concern.  It still trades above book value.  The numbers don’t make sense.

oil/gas
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$13.830
Owned Owned
Unknown

COMMENT
Painted Pony Energy(PONY-T) 

January 15, 2018

The mix is very good.  $6.30 is the book value.  The balance sheet is good.  It is trading at a third of book value.  People think the company won’t survive but he disagrees.  This is trading at survival value.  They have hedges on the gas price.  He likes what he is seeing.  He is looking into it seriously.

oil/gas

The mix is very good.  $6.30 is the book value.  The balance sheet is good.  It is trading at a third of book value.  People think the company won’t survive but he disagrees.  This is trading at survival value.  They have hedges on the gas price.  He likes what he is seeing.  He is looking into it seriously.

oil/gas
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$2.210
Owned Owned
Unknown

COMMENT

He is a little concerned that higher interest rates are coming. Also, people are getting tired of watching sports, and this company has a number of great sports franchises. If we see a slowdown in housing, connections to cable may also slow down. In spite of all that, this company is extremely solid. Great dividend yield and great cash flow.

Cable

He is a little concerned that higher interest rates are coming. Also, people are getting tired of watching sports, and this company has a number of great sports franchises. If we see a slowdown in housing, connections to cable may also slow down. In spite of all that, this company is extremely solid. Great dividend yield and great cash flow.

Cable
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$62.200
Owned Owned
No

HOLD

Canada's largest retail REIT. They’ve been having some difficulty, which is reflected in the stock price. He wouldn't worry about the distribution. The issue would be what can they do to grow. He would classify this as a weak hold. You are going to get squeezed a little by higher rates and a slower economy.

property mngmnt/investment

Canada's largest retail REIT. They’ve been having some difficulty, which is reflected in the stock price. He wouldn't worry about the distribution. The issue would be what can they do to grow. He would classify this as a weak hold. You are going to get squeezed a little by higher rates and a slower economy.

property mngmnt/investment
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$24.080
Owned Owned
Unknown

COMMENT
Raytheon(RTN-N) 

January 15, 2018

A US defence stock? He doesn't own anything in defence, but within the sector, this is a stock that has done very, very well for several years, and a key one to own because of the antimissile defence capabilities.

electrical/electronic

A US defence stock? He doesn't own anything in defence, but within the sector, this is a stock that has done very, very well for several years, and a key one to own because of the antimissile defence capabilities.

electrical/electronic
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Gr...

PricePrice
$197.460
Owned Owned
No

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