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Opinions Table


Signal Opinion Expert

2017-11-15

COMMENT
Saputo Inc. (SAP-T)

They continue to be busy, both in New Zealand and Australia. Their whole purpose is to grow by acquisition. It ranks 150 in the overall database of 700 stocks, so is roughly in the top quarter. There are other stocks that rank more attractively. As part of a portfolio though, you will do okay with this. Just announced they plan to buy back up to 8 million shares.

food processing
Robert McWhirter

President, Selective Asset Management

Price: $43.910
Owned: No

2017-11-15

TOP PICK
Source Energy Services Ltd (SHLE-T)

A provider of sand, but thinks of them more as a logistics company. That’s their competitive edge. Very strong barriers to entry. They are fully integrated from the mine right to the well site. Looking at the frac sand dynamics in Canada, Canadian companies are lower down in the learning curve in their adoption of using more and more sand on a per well basis. The dynamic for sand, where you have got our sand market probably growing by 50% a year, this company has 60% market in Canada. (Analysts’ price target is $14.)

Energy
Eric Nuttall

Portfolio Manager, Sprott Assett Management

Price: $9.580
Owned: Yes

2017-11-15

COMMENT
U. S. Silica Holdings (SLCA-N)

EPS has gone from negative to positive, but the stock is still lagging. The market concern isn’t around today, but about next year. The demand for frac sand is growing hyperbolically because there has generally been a strong relationship between using more proppants on a well that you frac and getting better results. Texas has not been an area of sand production, and due to transportation being 65%-70% of the overall sand costs, there is a financial motivation to try to find local sand sources. The concern has been that there will be too much supply being built in Texas, that will crush the price of 100 mesh and will trickle down reducing the price to $40.70. He is very bullish on frac sand but has taken his weight down because of the bogeyman of too much supply for the next couple of quarters, so they may lag. (See Top Picks.)

Eric Nuttall

Portfolio Manager, Sprott Assett Management

Price: $32.810
Owned: Unknown

2017-11-15

COMMENT
Spartan Energy Corp (SPE-T)

Sell and go into which company? This is a very effective strategy of monetizing losing positions and trying to get the same exposure. An alternative would be Torque (TOG-T).

oil/gas
Eric Nuttall

Portfolio Manager, Sprott Assett Management

Price: $6.480
Owned: Unknown

2017-11-15

TOP PICK
Trican Well Service Ltd. (TCW-T)

This gives you pure Canadian exposure in a market that is undersupplied. In their conference call, they said they had visibility through to break up, which would be Q2. All their equipment is spoken for through all 2018. 

oil/gas field services
Eric Nuttall

Portfolio Manager, Sprott Assett Management

Price: $4.560
Owned: Yes

2017-11-15

COMMENT
Torc Oil & Gas Ltd (TOG-T)

This company runs a very good shop when it comes to keeping the cost structure low and declines in check. The team is at the top of his list. He is looking for a little more torque to the coming inflection and sentiment towards oil, so would rather find names that are a little more beaten down. Dividend yield of 3.7%, which is sustainable at today’s oil prices.

oil/gas
Eric Nuttall

Portfolio Manager, Sprott Assett Management

Price: $6.490
Owned: Unknown

2017-11-15

COMMENT
Trevali Mining Corp (TV-T)

A pure zinc play. He has an optimistic outlook for zinc. It takes about 3 years to bring a new zinc mine into production, and there is not a lot of new zinc on the horizon. Zinc has moved up significantly, almost doubled to about $1.40 per pound.

Mining
Robert McWhirter

President, Selective Asset Management

Price: $1.380
Owned: No

2017-11-15

COMMENT
Tidewater Midstream and Infrastructure Ltd (TWM-X)

A relatively new company. Sales have gone up by 56% per share when they reported on November 14. Earnings declined 35%, but upcoming earnings are expected to grow by about 8% when they report. Because this is a utility, it will be trading more on a Price to cash flow basis. Pays a dividend of 2.7%. As an income investment, this should do okay.

Robert McWhirter

President, Selective Asset Management

Price: $1.480
Owned: Unknown

2017-11-15

COMMENT
Yangarra Resources (YGR-T)

For a small-cap Canadian oil stock, this has done phenomenally well. It’s one of the names that you always find an excuse not to own, and then kick yourself a couple of months later. One of the few oil names that is actually up this year. He would just stick this one aside, forget that you own, and look at it a couple of years from now.

Eric Nuttall

Portfolio Manager, Sprott Assett Management

Price: $4.340
Owned: Unknown

2017-11-14

N/A
A Comment -- General Comments From an Expert 

Economy. The world economy is pretty well a synchronized growth right now, and the markets look good through to the end of the year. Not since 2007 have all major global economies been growing in tandem. It really creates a virtual circle for the economy. Investors needn’t be too concerned going into the holiday season. You have a strong Canadian consumer and a pretty strong Canadian economy, so holiday sales should be pretty strong. You need to be focusing on earnings, etc. in the 1st quarter of 2018. 2017 was such a strong year with strong results, that year over year comparables are going to be much tougher to beat in 2018. The growth rates may be slower than they were in 2017.

Ryan Modesto

Managing Partner, 5i Research

Price: $0.020
Owned: _N/A

2017-11-14

N/A
A Comment -- General Comments From an Expert 

Marijuana. Doesn’t follow specific companies, because he can’t get to the valuation they are trading at. The Constellation Brands investment into Canopy Growth has sparked a lot of interest, but this was done more as a defensive position. It was an interesting move and expects there will be a lot more institutional money flowing into the marijuana sector. He couldn’t justify this as an investment at this point.

Ryan Modesto

Managing Partner, 5i Research

Price: $0.020
Owned: _N/A

2017-11-14

N/A
A Comment -- General Comments From an Expert 

Market. Earnings were very strong across the industries, and went a fair distance towards justifying the rally that we have seen in equities in 2017. The Fed Chairman is dovish on interest rates and for good reason. As economies around the world have strengthened, Europe is probably doing better now than it has in the last 10 years, we are seeing no signs of inflation anywhere.

David Baskin

President, Baskin Wealth Management

Price: $0.020
Owned: _N/A

2017-11-14

N/A
A Comment -- General Comments From an Expert 

How do ethical questions involved with owning marijuana stocks compared with those involved with owning tobacco stocks? Has an aging client base in part, with no fewer than 5 who have Parkinsons. 3 of them are taking medical marijuana which is alleviating their symptoms. He has nothing against the ethical use of marijuana for medical purposes. Also probably doesn’t have much against non-medical uses for recreational purposes.

David Baskin

President, Baskin Wealth Management

Price: $0.020
Owned: _N/A

2017-11-14

BUY
A Comment -- General Comments From an Expert 

Canadian Banks. Their year-end is October 31, and we haven’t seen results yet. He predicts the Canadian banks have all made a bunch of money for their year end, and a number of them are going to raise their dividend. There should be pretty good trading revenues in the 4th quarter. You have to own Canadian banks.

David Baskin

President, Baskin Wealth Management

Price: $0.020
Owned: Unknown

2017-11-14

DON'T BUY
Alaris Royalty (AD-T)

This is having a hard time being on the right side of a new release. Went through some litigation, and results were not quite as stable as had been expected. They are having to deal with a few of their companies going into default. They are managing, but now the payout ratio is getting really tight, and they don’t have a lot of cash on the balance sheet. If they have more issues with some of the loans they have, they could run into problems with their payout. He would sit on the sidelines for now.

Financial Services
Ryan Modesto

Managing Partner, 5i Research

Price: $18.180
Owned: No

2017-11-14

COMMENT
AGF Management (B) (AGF.B-T)

People were worried about their survival. They have survived, but thinks it is not a great industry right now. They are having trouble gaining assets. Fees are still under pressure, which means margins are under pressure. He wouldn’t rush out to buy the stock.

investment companies/funds
David Baskin

President, Baskin Wealth Management

Price: $8.210
Owned: No

2017-11-14

TOP PICK
Avigilon Corp (AVO-T)

Video surveillance technology. Just announced they are going to be launching a sort of software service product, and the market loves recurring revenues. Too early to get excited about that, but it’s interesting. They’ve had communication issues with the market in the past, which is what led to a lot of the downdraft. However, they’ve shifted strategies and are now focused on profitability. The last 2 quarters beat earnings estimates by 50% and just shy of 40%. Has a lot of cash on the balance sheet with the sale of a Vancouver property that is just going through now. (Analysts’ price target is $22.75.)

INDUSTRIAL PRODUCTS
Ryan Modesto

Managing Partner, 5i Research

Price: $19.840
Owned: No

2017-11-14

TOP PICK
BCE Inc. (BCE-T)

In Canada, more than half your total return comes from dividends. The government has been kind enough to give us a tax break on dividends. In this high tax era, we should take advantage. The company is growing their wireless business and we are all using more data all the time. We are going to be using a lot more data when we all have autonomous cars. Dividend yield of 4.7%. (Analysts’ price target is $62.)

telephone utilities
David Baskin

President, Baskin Wealth Management

Price: $61.560
Owned: Yes

2017-11-14

TOP PICK
Brookfield Infrastucture Partners (BIP.UN-T)

Of all the Brookfield spinoffs, this has been one of the best. It has all kinds of infrastructures such as utilities, timber, transportation, energy, communications, water. Funds from Operations is growing at 20% per year. This is the kind of stock everybody should own. Dividend yield of 4%. (Analysts’ price target is $47.)

INDUSTRIAL PRODUCTS
David Baskin

President, Baskin Wealth Management

Price: $55.740
Owned: Yes

2017-11-14

COMMENT
Grande West Transportation Group (BUS-X)

Has been doing really well. They’ve ramped up their plants, got orders, and are now actually building and shipping buses. It is kind of expensive for what is a slow growth business. They are in the smaller, niche buses, which get less competition. Prefers New Flyer (NFI-T), as it is a much larger company which is starting to look at the smaller bus size niche. However, he likes Grande West if you want something a little higher risk with a little higher growth potential in the short term.

Transportation
Ryan Modesto

Managing Partner, 5i Research

Price: $2.550
Owned: Unknown

2017-11-14

COMMENT
CAE Inc (CAE-T)

There is a huge wave of tourism, particularly in Asia. Group tours, from the growing economy is driving the demand for aircraft. There is a shortage of trained commercial pilots, and this company should be a beneficiary of that. However, they have a history of not doing as well as people think they should do. He is not sure this is the right player.

transportation equip & components
David Baskin

President, Baskin Wealth Management

Price: $22.200
Owned: No

2017-11-14

COMMENT
Canadian Apartment Properties (CAR.UN-T)

There is a huge shortage of rentable apartments, particularly in Toronto. Rents keep going up. With the extension of rent control to newly built buildings in Ontario, no one is going to build anymore apartments. That has been great for this company.

investment companies/funds
David Baskin

President, Baskin Wealth Management

Price: $36.800
Owned: Unknown

2017-11-14

COMMENT
Cascades Inc (CAS-T)

He doesn’t follow this closely, but does follow the space. Hurricanes created disruptions on resin supply for all these packaging companies. Prices have been rising and eating into the margins. These are generally lower margin companies, so it is a big deal when you start seeing margins erode. They have the ability to pass these increases on to the customer, but that won’t happen until down the road. There may be a few quarters of lower results than what you expect. When you get past 2 quarters, you should be fine with these companies. This company is okay, but he prefers CCL Industries (CCL.B-T).

east coast forestry
Ryan Modesto

Managing Partner, 5i Research

Price: $12.640
Owned: Unknown

2017-11-14

COMMENT
Cogeco Cable (CCA-T)

He has nothing in particular against this stock, but look at his Top Picks. Dividend yield of 1.8%. (See Top Picks.)

Cable
David Baskin

President, Baskin Wealth Management

Price: $87.500
Owned: Unknown

2017-11-14

COMMENT
CCL Industries (B) (CCL.B-T)

He really likes this. There are some resin issues, and margins are getting eroded a bit. They’ll be able to pass those costs on, in about 6 months. This may not do a whole lot over the next 2 quarters. Over the long-term, it has done very well for shareholders. Acquired a money printing company, so in each country, they only have one customer, the central bank. A very chunky business, and the quarter over quarter comparables are going to get a little messier than in the past. You are going to have to look at it as an ex-money printing business, as one day they may get a random order from a central bank, and it may not happen again until 2 years later.

packaging/containers
Ryan Modesto

Managing Partner, 5i Research

Price: $59.120
Owned: Unknown

2017-11-14

DON'T BUY
CRH Medical Corp. (CRH-T)

Thinks management got caught off guard with the Medicare/Medicaid changes. Listening to the calls, he didn’t have a lot of confidence. Their business model is a bit broken now. With the share price and valuation so low, they are not getting as much bang for their buck now. Heading into the tax loss season, this is probably going to be one of the big targets. He would sit on the sidelines, at least until the new year.

biotechnology/pharmaceutical
Ryan Modesto

Managing Partner, 5i Research

Price: $1.920
Owned: Unknown

2017-11-14

COMMENT
Descartes (DSG-T)

He likes this company. A “software as a service” business model. Has very consistent revenues. For guidance, they say “whatever our revenue was this quarter, that is our guidance for the next quarter”. This usually works and they add a couple of percentage points to it. Trading at a really high multiple, but that’s because they have this great recurring revenue model. Once a customer gets entrenched with their offering, it would be such a hassle for them to switch over to something else. Very consistent for a tech company.

computer software/processing
Ryan Modesto

Managing Partner, 5i Research

Price: $38.040
Owned: Unknown

2017-11-14

COMMENT
Emera Inc (EMA-T)

This is never going to blow the doors off, but at the same time it is never going to blow up. The dividend has a tendency to rise over time. If you can make 6%-8% with a combination of dividend and capital gain over time, that’s not so bad. The kind of stock that should be a foundation for most portfolios. Dividend yield of 4.76%.

mngmnt/diversified
David Baskin

President, Baskin Wealth Management

Price: $47.300
Owned: Unknown

2017-11-14

COMMENT
Enbridge (ENB-T)

A stock people want to stick in their portfolios in the hope that the price will gradually go up. In the meantime, they are getting the dividend. It had some performance issues lately and the stock suffered. He would prefer something like Fortis (FTS-T), Canadian Utilities (CU-T), Pembina Pipeline (PPL-T) or Keyera (KEY-T), which have good dividends. Dividend yield of 5.5%.

oil/gas pipelines
David Baskin

President, Baskin Wealth Management

Price: $44.540
Owned: No

2017-11-14

PAST TOP PICK
Great Canadian Gaming Corp (GC-T)

(A Top Pick Sept 30/16. Up 29%.) He still likes this. May be a bit conservative in the short term. They’ve been swept up in money laundering headlines. Feels a lot of people are missing the mark, where they think the company is doing something nefarious, but to him it sounds more like a broad regulatory issue in BC, and there may be some tweaks to the rules. The real story is with the GTA gaming bundle they just signed. Buying on weakness is a fine strategy.

entertainment services
Ryan Modesto

Managing Partner, 5i Research

Price: $29.810
Owned: No

2017-11-14

TOP PICK
General Motors Corporation (GM-N)

These companies are old, but are not stupid. This company has $6 billion of positive cash flow this year. Compare that to Tesla which has $4 billion of negative cash flow. General Motors has the capacity, the intelligence and the engineering. The stock is trading at a ridiculous PE multiple of 7X. They are finally making money in all their markets, including Europe for the first time in 20 years. Dividend yield of 3.5%. (Analysts’ price target is $48.)

Automotive
David Baskin

President, Baskin Wealth Management

Price: $43.000
Owned: Yes

2017-11-14

COMMENT
Canada Goose Holdings (GOOS-T)

Their products have a lot of buzz, and accordingly the stock price has some fluff in it. The stock is quite expensive. He would be cautious at this price.

clothing
David Baskin

President, Baskin Wealth Management

Price: $31.000
Owned: No

2017-11-14

TOP PICK
Gluskin Sheff and Associates (GS-T)

A cheap company, valuation wise. They often pay special dividends. There were some litigation issues with the cofounders, but that’s behind them now. There is a new CEO coming on who has taken on a 2% position in the company, and thinks he is going to do some things to help move the share price. Dividend yield of 6.4%. (Analysts’ price target is $17.)

Financial Services
Ryan Modesto

Managing Partner, 5i Research

Price: $15.480
Owned: No

2017-11-14

DON'T BUY
Gluskin Sheff and Associates (GS-T)

Founded by 2 people who were geniuses in the business of managing money for high net worth families. The stock has struggled. The company makes its money by charging a fee on assets under management, but also by charging a participation fee on profits. Increasingly, high net worth families are resisting paying participation, simply because they don’t have to. Because of this, the company has difficulty in expanding its asset base and producing the kind of profits investors want to see.

Financial Services
David Baskin

President, Baskin Wealth Management

Price: $15.480
Owned: No

2017-11-14

COMMENT
Knight Therapeutics (GUD-T)

He really likes this company, but is beginning to think he might be in the minority. Over 5 years, it is up over 100%. Has done well for longer-term investors. About 65% of their market cap is in cash, so there is some downside protection. Management has been doing a good job in investing money. You have to be patient. It’s going to take time for them to deploy all the cash they have.

Ryan Modesto

Managing Partner, 5i Research

Price: $7.860
Owned: Unknown

2017-11-14

COMMENT
HIVE Blockchain Technologies (HIVE-X)

Digital currency is really interesting. Doesn’t think anyone really knows what is going on generally. The real large demographic news case is still getting developed. You have to going to the space with eyes open. It is speculative. If you have a speculative portion of your portfolio and understand you may lose 50% or 100%, you can make a case for this. He thinks it is going to get interesting when the markets open up a bit and you get ETF’s holding these.

Ryan Modesto

Managing Partner, 5i Research

Price: $3.450
Owned: Unknown

2017-11-14

COMMENT
High Liner Foods (HLF-T)

This has not been one of his great, shining picks in the last 2 years. He made a fortune on the stock in the early part of the decade. Unfortunately, they took part of it back. Poor execution on a recent acquisition of a shrimp company in south east Asia, and they had some product recalls that really hammered earnings. Their 4th quarter was better. He hasn’t given up on this yet.

Consumer Products
David Baskin

President, Baskin Wealth Management

Price: $13.310
Owned: Yes

2017-11-14

COMMENT
H&R Real Estate Inv Trust (HR.UN-T)

Largely a commercial and industrial manager of real estate assets, and for years and years a wonderful simple strategy. They would build a commercial building, mortgage it, lease it for 20 years and lock in a spread. It was predictable and it was great. They then branched out, and in 2008 had a near-death experience when they built the Bow office tower in Calgary. They almost ran out of money because they hadn’t locked up their financing. This is a low growth company. Distribution is growing, very slowly. It’s the kind of company that will suffer if interest rates grow. The 6% distribution is not a dividend and is taxed as other income, but is absolutely safe. This is only a yield play.

property mngmnt/investment
David Baskin

President, Baskin Wealth Management

Price: $21.960
Owned: Unknown

2017-11-14

COMMENT
Korn/Ferry International (KFY-N)

One of the premier international headhunting firms. Firms like LinkedIn and other websites have cannibalized the hiring market, but mostly on the lower end. For people like COO’s, CEO’s, CFO’s etc., that is where companies like this make their money.

mngmnt/diversified
David Baskin

President, Baskin Wealth Management

Price: $41.510
Owned: Yes

2017-11-14

TOP PICK
Kinaxis Inc (KXS-T)

Just lost a big customer in the far east, and the market got really concerned, but it really looks like it was a head fake. Their recent earnings growth is still there and they’re partnering with new customers who can help sell their products. This and Shopify (SHOP-T) are your 2 larger cap growth tech companies out there. Now that Shopify is seeing some issues, some attention may be turning back to this company. A volatile name, but if you can look out past a year, this company is going to do well for shareholders. (Analysts’ price target is $87.50.)

Ryan Modesto

Managing Partner, 5i Research

Price: $70.850
Owned: No

2017-11-14

BUY
Magna Int'l. (A) (MG-T)

Has done a good job of adapting to all the peak auto concerns and autonomous cars. There is still going to be a demand for cars regardless, and this company can supply the parts. The balance sheet remains strong. They are buying back shares as well as having a dividend. Still a pretty cheap company. The premier manufacturing company.

Automotive
Ryan Modesto

Managing Partner, 5i Research

Price: $67.240
Owned: Unknown

2017-11-14

COMMENT
Magna Int'l. (A) (MG-T)

Had very good earnings. Everybody was talking about the NA car market peaking out, which he thought it did in 2015, but not very fast. The company is threatened by changes in NAFTA. They have plants equally in Canada, Mexico and the US, roughly 17 plants in each country. Has a fully integrated supply network across those 2 borders. If NAFTA talks fail, no one knows what is going to happen. Readjusting to a NAFTA-less world would be difficult for the entire auto industry. They are well positioned for any changes in the auto industry.

Automotive
David Baskin

President, Baskin Wealth Management

Price: $67.240
Owned: Unknown

2017-11-14

COMMENT
New Flyer Industries Inc. (NFI-T)

Doesn’t follow this closely although he knows it has been a tremendous success. Toronto says it is going to be converting to electric buses, and this company has unveiled the next generation of electric transit buses. Cities are altering their transit infrastructure, and will be going towards greener stock. If this company is into that, then it might be a good horse to ride.

income trust
David Baskin

President, Baskin Wealth Management

Price: $50.570
Owned: Unknown

2017-11-14

BUY on WEAKNESS
Premium Brands Holdings Corp (PBH-T)

A provider of specialty meat brands and sandwiches for service stations. They go for the niche goods, so they don’t have to compete as much on costs. He really likes this company. Not doing well today, because the earnings missed pretty significantly on the top and bottom lines. Views it as just a hiccup, and longer-term it is just fine. Expensive, but the best companies usually are expensive for a reason. He would be okay with adding on weakness.

food processing
Ryan Modesto

Managing Partner, 5i Research

Price: $95.150
Owned: Unknown

2017-11-14

COMMENT
Photon Control (PHO-X)

He really likes this. They largely do positioning slow sensors for the semiconductor industry. Has a new customer they are ramping up, so there is some good organic sales potential. Currently going through a certification process with their new facility, but there are no issues. Very strong balance sheet. Good growth behind them. There is lots to like here.

electrical/electronic
Ryan Modesto

Managing Partner, 5i Research

Price: $1.660
Owned: Unknown

2017-11-14

PAST TOP PICK
Power Corp (POW-T)

(A Top Pick Oct 13/16. Up 21%.) His thesis is that the basic business is okay, and Paul Desmarais’s sons would reinvigorate the company after his death. He was wrong. No catalyst has emerged. However, prospects for insurance companies have improved somewhat, as interest rates have come up.

mngmnt/diversified
David Baskin

President, Baskin Wealth Management

Price: $32.850
Owned: Yes

2017-11-14

COMMENT
Qualcomm (QCOM-Q)

The company has resisted the recent takeover offer. They make chipsets for mobile devices, and the government of China refused to enforce their patent rights on devices in China, which put a huge hole in their income statement. It’s an unresolved issue. He doesn’t know what is going to happen.

Telecommunications
David Baskin

President, Baskin Wealth Management

Price: $66.000
Owned: Unknown

2017-11-14

COMMENT
Quarterhill Inc (QTRH-T)

When they changed, he thought they might be able to get rid of the WiLan issues. They couldn’t put a consistent quarter together if their life depended on it. The quarter before, blew out estimates because they had some really big settlements with patent litigations. However, the recent quarter was not great, missing estimates and not doing what people expected. A pretty cheap company. Diversifying into an Internet of Things company, and he kind of likes the space they are trying to get into. It’s very hard to get excited about this company.

electrical/electronic
Ryan Modesto

Managing Partner, 5i Research

Price: $2.110
Owned: Unknown

2017-11-14

COMMENT
Russel Metals (RUS-T)

This is a “peak of the cycle” stock, i.e., it requires a very good economy with strong demand for its products in order to make a lot of money. This is not the kind of stock he likes. The 5.4% dividend is probably safe.

steel
David Baskin

President, Baskin Wealth Management

Price: $28.220
Owned: No

2017-11-14

COMMENT
Savaria Corp (SIS-T)

One of his favourite companies. They do accessibility solutions, such as adapted vehicles, elevator lifts, chairlifts, etc. Acquired Span America about a year ago which does cushions and beds, so the company now has pretty much an end-to-end offering for people with accessibility issues. There is a lot more torque with every sale they have. There are also cross-selling opportunities. Expect they will continue making international acquisitions.

other services
Ryan Modesto

Managing Partner, 5i Research

Price: $15.510
Owned: Unknown

2017-11-14

PAST TOP PICK
Stella-Jones Inc. (SJ-T)

(A Top Pick Sept 30/16. Up 11%.) Recently got into the lumber business along with their telephone poles and railway ties business. That was well timed as lumber is now hitting new highs. More of a “steady Eddie” stable type of name. Pays a decent dividend. Right now, railway ties are soft, but will come back.

misc industrial products
Ryan Modesto

Managing Partner, 5i Research

Price: $49.780
Owned: No

2017-11-14

PAST TOP PICK
Spin Master Corp (TOY-T)

(A Top Pick Sept 30/16. Up 56%.) A great Canadian story. He still likes this. They are very innovative. Last year they had Hatchimals, which was a blockbuster product, but doesn’t expect them to have the same sales this year. There is also the Toys “R” Us bankruptcy issues which might create some disruption in the short-term. Wait for 3 months until their holiday results come through.

Ryan Modesto

Managing Partner, 5i Research

Price: $15.150
Owned: No

2017-11-14

PAST TOP PICK
Visa Inc. (V-N)

(A Top Pick Oct 13/16. Up 38%.) He is not sure there is going to be any pullback, because the runway for growth is so enormous. The penetration of credit cards is very low in China and Southeast Asia.

other services
David Baskin

President, Baskin Wealth Management

Price: $111.980
Owned: Yes

2017-11-14

COMMENT
Exco Technologies (XTC-T)

He would call this a value investor’s dream. Across the board it is cheap, no matter what value metric you are using. It’s about a 3%-4% dividend. Has a good history of buying back shares and increasing the dividend. Hasn’t been doing too well lately, but feels there is potential in the next quarter or 2 with better earnings. A name you probably have to be patient with, but your downside risks are manageable.

INDUSTRIAL PRODUCTS
Ryan Modesto

Managing Partner, 5i Research

Price: $10.220
Owned: Unknown

2017-11-14

PAST TOP PICK
Zimmer Biomet Holdings Inc. (ZBH-N)

(A Top Pick Oct 13/16. Down 11%.) This is medical parts, knees, hips, spinal fusion products, etc. Had felt the stock would benefit from aging baby boomers. However, they had some inventory problems, and didn’t experience the kind of growth he expected. It’s still a great place to be.p

biotechnology/pharmaceutical
David Baskin

President, Baskin Wealth Management

Price: $112.210
Owned: Yes

2017-11-13

N/A
A Comment -- General Comments From an Expert 

Market.  GE-N announced a dividend cut.  It is not the company it was years ago.  It was like IBM 25 years ago when they reengineered it.  There will be tax loss selling to come and the dividend cut is probably not the first to come.  At some point it will probably be a bargain.  They won’t rebuild the dividend any time soon.  If this goes down to $15 then you are back to an attractive dividend.  We are starting to have to deal with BREXIT.  It will be disruptive.  All trade deals being broken by Trump will be so also.  The US is being very disruptive and this will be a negative for the world.  Tax reforms in the US:  It will be difficult to reconcile the state vs. federal taxs.  It will be a disappointing bill that will give you a sell-the-news affect.

Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $0.020
Owned: _N/A

2017-11-13

N/A
A Comment -- General Comments From an Expert 

Educational Segment.  Bitcoin: He thinks it is speculative.  It is a crypto currency.  It is money:  a store of value, a unit of account and a medium of exchange (the definition of money).  The intrinsic value of Bitcoin is nothing.  It is more likely to be zero than anything else.  GBTC-N is a fund that trades in Bitcoin as the underlying asset.  From a risk perspective, it is the highest risk category you could imagine.  GBTC-N trades at a 49% premium to the underlying currency.  Expect volatile ups and down.  He is negative on the outlook.  It could keep going up for years but it is a speculative vehicle and you should leave it alone unless you are a big risk taker as you are not owning the underlying technology.  It has no underlying value.

Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $0.020
Owned: _N/A

2017-11-13

N/A
A Comment -- General Comments From an Expert 

Market.  He likes stocks that don’t need the markets to go higher in order to provided returns.  There is a lot of opportunity to make money in Canada.  We have seen a lot of good things happen in the markets.  We are piggy backing a little on the things going on in the US markets.  We have seen energy markets bounce here in Canada.  There are positive signs here in Canada but also things to be concerned about.  The US congress and the president may not get a tax deal done.  Whether or not there is a hike in rates that will make more difference.

Brendan Caldwell

President, Caldwell Securities

Price: $0.020
Owned: _N/A

2017-11-13

N/A
A Comment -- General Comments From an Expert 

Market. We are in the midst of one of the great bull markets, but we worry and worry. We hear worries about higher interest rates, Donald Trump, Hillary Clinton, North Korea, etc. In the meantime, the GDP of the world is doing just fine. Work is as strong as it has been in the decade. US numbers are good. Canada is doing very well considering where resources are. There has been pretty good strength coming out of Asia. Background for higher equity prices is there and corporate confidence is extremely high, and most companies are having positive earnings surprises. You look at the companies and at the fundamentals, see how they fit into the environment and try and pick your spots.

Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Group

Price: $0.020
Owned: _N/A

2017-11-13

N/A
A Comment -- General Comments From an Expert 

Blockchain companies? Crypto currencies are a phenomenon right now. The great thing is that you are outside of government control. Bitcoin has gone from nothing to $6000-$7000, but he wonders how you sell them. Nobody backs this. Highly speculative.

Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Group

Price: $0.020
Owned: _N/A

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