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Opinions Table


Signal Opinion Expert

2017-11-13

COMMENT
Suncor Energy Inc (SU-T)

Not bullish on oil for the longer-term. The Western world is moving away from oil. World oil production was expanded massively to bring China on the last 20 years. Now Russia, Iran, Iraq, etc., etc. are needing money. There is a lot of oil in the globe to be brought on by people who are really desperate to drive their economies forward. Then you have the great shale boom in the US where hundreds of barrels of oil have been on lock by the shale technology. It’s coming out at $50 a barrel and they’re making money. You don’t want to invest in oil unless you have a company that can truly make money at that level. Suncor can make money at these levels, but a lot of that is because they have an old plant that was built over the last 40-50 years at different costs. He doesn’t see exciting upside in this company.

integrated oils
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Group

Price: $46.220
Owned: No

2017-11-13

SELL
Toronto Dominion (TD-T)

Analysts are looking for some upside.  He would hit the sell button.  He has no direct exposure to the Canadian banks.  He thinks we’ll come back to the $62 level.  Wait on the sidelines for a correction within the next year.  There is nothing wrong with TD-T specifically.

banks
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $72.810
Owned: No

2017-11-13

WEAK BUY
Toronto Dominion (TD-T)

They did extraordinarily well coming out of the financial crisis.  So much of their direct lending was leveraged to the energy space but now prices are up to $55 for energy so they will not see the large defaults people were afraid of.  His preference would be BNS-T.  TD-T is probably the best to play the US.  They took on a competitive US environment and did very well.  No one in the US thinks of it as a Canadian Bank.  You are betting on the strength of the US banking system doing well.  He prefers BNS-T because of the international exposure.

banks
Brendan Caldwell

President, Caldwell Securities

Price: $72.810
Owned: Unknown

2017-11-13

COMMENT
Toronto Dominion (TD-T)

This has been one of the best performing bank stocks over the last 25 years, and continues to do well. Most of the Canadian banks are just Buy, Hold and put them away. They have very good governance from the central bank in Ottawa. If we see higher interest rates, we’ll see a nice move with this bank.

banks
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Group

Price: $72.810
Owned: Yes

2017-11-13

COMMENT
Teck Resources Ltd. (B) (TECK.B-T)

The biggest Canadian mining company and is pretty easy to analyse. 50% coking coal is exported mainly to Japan and Korea to the higher end steel mills. 25% is zinc, which is doing very, very well. The remaining part is copper, the metal of the electronic age. He’s heard that if we go to electric cars, we need to double world copper production. Positioned reasonably well, but he isn’t excited about commodities in this environment. Not a stock you buy and put away, it’s a stock you trade. 

precious metals
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Group

Price: $27.800
Owned: No

2017-11-13

COMMENT
Teva Pharmaceutical (TEVA-N)

Politicians love to hate drug stocks, because they are the most obvious part of the healthcare system and they can badmouth them. As a generic manufacturer, the only cost they have is the pill, and they can drive down the price. As governments globally tried to encourage generic pharmaceuticals, to take pricing pressure off, there was a lot of government support for them. Now that most of the major drug companies have been genericized, they are squeezing them as well. This company consolidated and took on a lot of debt, and are still being squeezed. 7.5% dividend yield.

biotechnology/pharmaceutical
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Group

Price: $11.740
Owned: No

2017-11-13

BUY
Texas Instruments (TXN-Q)

(Market Call Minute.) The whole semiconductor sector in the US is doing well. This is one of the leading companies in that, so he suspects they will continue to do well.

electrical/electronic
Bruce Murray

CEO & Chief Investment Officer, The Murray Wealth Group

Price: $97.030
Owned: Unknown

2017-11-13

DON'T BUY
Vanguard Industrials Index Fund ETF Shares (VIS-N)

When the economy is strong, cyclical sectors tend to outperform.  He thinks we are very late in the economic cycle.  It could end any time now.  You want to be underweight cyclical late in the cycle.  When the market is down and the bad news is priced in, then that is when to overweight these.  Don’t add to industrials right now.

E.T.F.'s
Adam Thomas

Vice President & Portfolio Manager, Qwest Fund Management

Price: $133.400
Owned: Unknown

2017-11-13

WEAK BUY
Verizon Communications (VZ-N)

Analysts generally have it as a hold.  Telecom is cheap to him.  They have been underperforming for almost a year.  IYZ-N reflects the telecom sector and he has been buying it.  He likes it here and is in an accumulation here.  He prefers the ETF to one company.  He does not know if VZ-N will be a winner over the boarder sector.

telephone utilities
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $44.750
Owned: Unknown

2017-11-13

COMMENT
BMO S&P 500 Index ETF (ZSP-T)

SPY-N vs. ZSP-T.  They should be identical except ZSP-T trades in Toronto but has exposure to the US$.  If the US$ gets stronger it should help the ETF.  SPY-N has underperformed dramatically because it is in US$.  They would be identical if you converted the dollars.  There is foreign tax withholdings of about 30 basis points on SPY-N.  ZSP-T gives you a foreign tax withholding also but you get a tax credit.

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

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $36.240
Owned: Unknown

2017-11-13

DON'T BUY
Sleep Country Canada Holdings (ZZZ-T)

It has been a position of his for some time.  But margins are under pressure.  They have been increasing their adverting budget.  He thinks there will be pressure on margins for some time.  He recently sold it.  It was a darling for such a long time and it made a high and then made a lower high.  There are better opportunities in the Canadian market.

household goods
Brendan Caldwell

President, Caldwell Securities

Price: $32.470
Owned: Unknown

2017-11-10

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

Markets. Earnings have been decent, but it needs to go on being strong to propel stocks higher. Third-quarter US earnings have been reported and are almost complete now. They came in better than the expected 5%. Coming in around 8%-9%. Indices are trading above historical averages, so she is not expecting any more multiple expansion to keep markets going higher. They really need that profit growth to keep going up.

Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $0.020
Owned: _N/A

2017-11-10

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

Market. For now, earnings are justifying what you are paying for stocks. We are trading at about 20% premium to normalized valuations, but you have to look at the backdrop, and that is fairly friendly to equities. We are in a continuing low interest rate environment, and corporate earnings are very, very strong. As long as that backdrop continues, there is a relative equilibrium from a valuation standpoint. If the Fed follows through with tightening, that is a signal to him that the economy is healthy.

Gordon Reid

President, GoodReid Investment Counsel

Price: $0.020
Owned: _N/A

2017-11-10

COMMENT
Aurora Cannabis (ACB-T)

A market cap well above $1.5 billion, but only $8 million in sales, so valuation has a real disconnect. A lot of these stocks move on news or momentum, not necessarily on the underlying financials.

Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $4.640
Owned: No

2017-11-10

COMMENT
Agrium (AGU-T)

They are targeting the 4th quarter to complete their merger with Potash (POT-T). The new company is going to be called Nutrient.

chemicals
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $135.500
Owned: Unknown

2017-11-10

COMMENT
Algonquin Power & Utilities Corp (AQN-T)

Canadian utility companies seem to be making acquisitions for growth. She owns this in some of her utility accounts. Utilities are focused on renewables, which is a positive. A nice trend for the future. They recently made a $500 million equity issue, which is why the stock pulled back, as they usually do an issue below the market price. Longer-term, this is an attractive investment and offers an attractive dividend yield.

electrical utilities
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $13.320
Owned: Yes

2017-11-10

PAST TOP PICK
Bank of America (BAC-N)

(A Top Pick Nov 30/16. Up 27%.) Banks are going to do well in this environment, because they are set up for it. They’ve had 8-9 years to repair their balance sheets. The economy is reasonably good. Feels there is a longer runway for the banks, because before the yield curve turns over, it will get steeper.

banks
Gordon Reid

President, GoodReid Investment Counsel

Price: $26.510
Owned: Yes

2017-11-10

COMMENT
BCE Inc. (BCE-T)

She’s used both this and Telus (T-T) as income stocks. Both have an attractive yield, close to 4.5%-5%. They generate a lot of cash flow, so will typically increase their dividend at a modest pace each year. They’ve done relatively well. She doesn’t expect a lot of capital appreciation, maybe 5% from here at best, plus the yield. Uses these for defensive and income purposes.

telephone utilities
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $61.170
Owned: Yes

2017-11-10

COMMENT
Baytex Energy Corp (BTE-T)

Has very low energy weightings in her portfolios. Even though energy prices have risen, there is not a lot of visibility in what may play out in the next 6-12 months. This is more levered than the other companies. She wants a very strong balance sheet. 

oil/gas
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $4.180
Owned: No

2017-11-10

COMMENT
Blackstone Group LP (BX-N)

Has done well, but not sure this is the time in the cycle when you want to own a company that looks for opportunities in a quasi-distressed market. This is a limited partnership, and for Canadians owning Limited Partnerships, there are tax repercussions. Before going into a limited partnership, you should get tax advice.

investment companies/funds
Gordon Reid

President, GoodReid Investment Counsel

Price: $32.130
Owned: Unknown

2017-11-10

PAST TOP PICK
Celgene Corp (CELG-Q)

(A Top Pick Nov 30/16. Down 14%.) Reported earlier this month. Just prior to reporting, took a phase 3 drug out of the pipeline, that had a lot of promise. It was a drug that treated Crohn’s disease. It will build back some of the confidence, but it will take time. The return opportunities are good enough to continue holding the position.

Consumer Products
Gordon Reid

President, GoodReid Investment Counsel

Price: $102.340
Owned: Yes

2017-11-10

TOP PICK
Cineplex Inc (CGX-T)

Has lost altitude, partly because of Hollywood’s bad products. Is the decline in attendance systemic or cyclical? She thinks it is cyclical. They’ve put in initiatives to diversify away from the box office, including growing its digital media business, eSports franchise, and opening Rec Room restaurants. Dividend yield of 4.7%. (Analysts’ price target is $44.50.)

other services
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $36.500
Owned: Yes

2017-11-10

COMMENT
Corus Entertainment (B) (CJR.B-T)

This bought the media assets from Shaw, and media is going through a lot of changes. Content is important. She is not enticed to go into this space other than her holdings of Disney (DIS-N). 9.6% dividend yield is quite high, at any time it goes above 6%-7%, you have to start looking at the cash flow performance of the company and how sustainable it is for the long-term.

entertainment services
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $11.660
Owned: No

2017-11-10

DON'T BUY
Cisco (CSCO-Q)

This is in a sector that has a great many opportunities. If you want to have a good representation in your tech space, there are a lot of choices he would rank higher than this. They work very, very hard to reinvent themselves, and are doing a decent job. Trading at a fairly reasonable multiple. However, the growth of revenue and cash flow is not impressive.

electrical/electronic
Gordon Reid

President, GoodReid Investment Counsel

Price: $33.990
Owned: Unknown

2017-11-10

PAST TOP PICK
Chartwell Seniors Housing (CSH.UN-T)

(A Top Pick Nov 15/16. Up 12%.) Just reported this morning and had good numbers and improvement in their Net Operating Income. She likes Senior Housing where the demographics work in your favour. Sold all their US assets a few years ago, and invests solely in Canada now.

property mngmnt/investment
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $15.860
Owned: Yes

2017-11-10

DON'T BUY
CSX Corp (CSX-Q)

(Market Call Minute.) A very expensive railway. Hunter Harrison has taken over and they’ve built in a huge premium, which he doesn’t think is deserved. He would prefer Union Pacific which is better run and has a better valuation.

Transportation
Gordon Reid

President, GoodReid Investment Counsel

Price: $50.080
Owned: No

2017-11-10

COMMENT
CVS Health Corp (CVS-N)

She is going to continue holding this, even though Amazon (AMZN-Q) may enter the mail order drug delivery space. Feels they are well positioned. They have the infrastructure and their PBM service, so can compete if they have to. The multiple has really contracted, trading at about 12X forward earnings. There are rumours that CVS may buy a health insurance company, possibly Aetna, which has caused the stock to pull back. They are virtually integrating in that whole chain, and will eventually derive more scripts and more services into their retail network, which will help lower overall hospital costs.

specialty stores
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $70.990
Owned: Yes

2017-11-10

COMMENT
CVS Health Corp (CVS-N)

This has responded to the Amazon (AMZN-Q) factor. They are rumoured to be talking to Aetna for a takeover. That would create a vertically integrated business model. If they can create a model where the patient experience is owned by the CVS group, then people are less and less likely to want to interrupt that relationship. That is the response we are starting to see.

specialty stores
Gordon Reid

President, GoodReid Investment Counsel

Price: $70.990
Owned: Unknown

2017-11-10

HOLD
DowDuPont Inc. (DWDP-N)

On her watch list. The investment thesis is that eventually they plan to spin out various operating divisions. The hope is that the sum of the parts is greater than the total. A cyclical name, so in an environment where you are seeing improving economic fundamentals, that is a positive. Has done relatively well and the pullback was maybe just for valuation measures.

chemicals
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $69.970
Owned: No

2017-11-10

DON'T BUY
Equifax Inc. (EFX-N)

This was the big cyber breach in personal information on hundreds of millions of consumers. It’s a broken story. It’s early days in terms of class action lawsuits. Too risky.

other services
Gordon Reid

President, GoodReid Investment Counsel

Price: $108.740
Owned: No

2017-11-10

COMMENT
Enbridge (ENB-T)

Hitting new multiyear lows. When they recently reported 3rd quarter earnings, they were asked about their dividend policy, where they had indicated they can grow their dividend 10%-12% annually to 2024. That’s been their stance for a number of quarters. The company said they were finalizing plans and would be addressing this at their investors day mid December. Feels this affected the stock. The market does not like uncertainty.

oil/gas pipelines
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $46.290
Owned: Yes

2017-11-10

COMMENT
Facebook (FB-Q)

(Market Call Minute.) This is growing very, very rapidly. Even though this is a mammoth company with over 2 billion active monthly users, they grew revenues 47% year-over-year last quarter.

Gordon Reid

President, GoodReid Investment Counsel

Price: $178.460
Owned: Yes

2017-11-10

DON'T BUY
General Electric (GE-N)

This is a mess, and not one that any individual is going to solve in a quarter or 2. Monday is a very important day, because they are doing an investor presentation. Earnings are likely not going to be much north of $1 a share. Their cash flow is in terrible shape. If they cut the dividend, which he expects, and lay the groundwork for a long-term recovery, the stock might have some legs into the low $20s. He wouldn’t want to be involved in its early days.

electrical/electronic
Gordon Reid

President, GoodReid Investment Counsel

Price: $20.490
Owned: Unknown

2017-11-10

TOP PICK
CGI Group (A) (GIB.A-T)

About half their revenue comes from outsourcing on long-term contracts, which are reoccurring, and the other half is systems integration consulting contracts. They are well positioned on the technology trends, with everybody having to develop a digital platform and automate processes for artificial intelligence. Companies are having to look at their legacy technology systems, and upgrade to make them more digital, online. When you do that, you are inviting customers and the world onto your website, which means cyber Security is another issue. This company has solutions to address all these metrics. Very global with about 50% from Europe, 30% in the US and the balance in Canada and Asia. (Analysts’ price target is $74.)

consulting
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $67.650
Owned: Yes

2017-11-10

PAST TOP PICK
Alphabet Inc. (A) (GOOGL-Q)

(A Top Pick Nov 15/16. Up 35%.) The valuation is not as attractive as it was a year ago. They’re executing well. Have had over 20% revenue growth for 21 consecutive quarters. Has a lot of cash overseas, which will be a benefit if the whole US tax reform comes in for repatriation of foreign taxes.

Business Services
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $1044.150
Owned: Yes

2017-11-10

TOP PICK
Alphabet Inc. (A) (GOOGL-Q)

On their latest report, they grew revenues 24% year-over-year. A very large company, but still growing very, very smartly. They are starting to monetize a lot of their supplementary initiatives. YouTube is really taking hold, with 1.5 billion monthly users watching at least an hour or more. A very real streaming opportunity for people in the over-the-top world in competition for eyeballs. They also have Waymo, a self driving car initiative, which is going to be amazing. Google has long been reputed to be behind the curve on the Cloud. Just as last week, they did a joint venture with salesforce.com, which is going to make a difference. At 28X earnings, this is a good solid holding for the long-term. (Analysts’ price target is $1180.)

Business Services
Gordon Reid

President, GoodReid Investment Counsel

Price: $1044.150
Owned: Yes

2017-11-10

TOP PICK
Halliburton Co (HAL-N)

An oil service company. Along with the industry, they have come out of a trough that they hadn’t seen since the late 1980s. It was a very deep trough, and they are coming out of it. Their latest report was very upbeat. Rig counts are improving. They are gaining share internationally. Where just a week before, Schlumberger (SLB-N) had said their international business was suffering, this company came on and said “Ours isn’t”. Dividend yield of 1.6%. (Analysts’ price target is $54.)

oil/gas field services
Gordon Reid

President, GoodReid Investment Counsel

Price: $44.580
Owned: Yes

2017-11-10

PAST TOP PICK
Home Depot (HD-N)

(A Top Pick Nov 15/16. Up 35%.) This was made on the play of improving GDP growth in the US, and improving housing. There is a shortage of inventory in the US housing market, so many people are opting to stay in their existing home, and to upgrade and renovate.

specialty stores
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $164.110
Owned: Yes

2017-11-10

BUY
Inter Pipeline (IPL-T)

Increased their dividend by about 3.5%. Their results were fine, but have to make a decision on the big $3.1 billion petrol/chemical facility. They want to secure long-term “take or pay” contracts before building it, which will decrease exposure to the commodity price. If you didn’t own this, this would be a chance to build a position. The dividend yield is over 6%.

oil pipelines
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $26.110
Owned: Yes

2017-11-10

HOLD
JP Morgan Chase & Co (JPM-N)

Sell and move into Bank of America (BAC-N)? Both are a play on the US economy and capital markets. Of the 2, she would tend to stick with J.P. Morgan, which she feels has a better management team in place. Both will participate if markets continue to do well.

Financial Services
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $97.510
Owned: Unknown

2017-11-10

COMMENT
JP Morgan Chase & Co (JPM-N)

Banks are taking a breather now. The spread between 2 year and 10 year yields are very, very low. Because of this, the yield curve has flattened, which isn’t an environment where banks do well. However, these are very, very healthy companies. Thinks the banks are a good choice.

Financial Services
Gordon Reid

President, GoodReid Investment Counsel

Price: $97.510
Owned: No

2017-11-10

TOP PICK
KB Home (KBH-N)

He is a heavy investor in homebuilders through his US small-cap portfolio. He has 5 homebuilders out of the 40 stocks that make up that portfolio. They’ve done extremely well this year on average, and the 5 of them have grown 55%. Dividend yield of 0.4%. (Analysts’ price target is $25.)

contractors
Gordon Reid

President, GoodReid Investment Counsel

Price: $28.110
Owned: Yes

2017-11-10

DON'T BUY
Macys Inc. (formerly Federated Department Stores) (M-N)

Retail sales is not going away, it is just the model and delivery sources that is changing. Online is taking from bricks and mortar. There won’t be one winner and one loser. There’ll just be a tug-of-war. The numbers basically support online growing at 12%-14%, and bricks and mortar growing at 1% or 2%. That is going to go on for some time. This company has a lot of embedded capital, and they can’t be nimble. They have to create a new desire for people to come into their stores.

department stores
Gordon Reid

President, GoodReid Investment Counsel

Price: $19.980
Owned: No

2017-11-10

TOP PICK
Mondelez International (MDLZ-Q)

A global leading snacks company. 40% is in emerging markets. They are in chocolates, biscuits and candy. It has pulled back from prior years, because emerging markets economies have not been doing as well. Things are starting to improve. They have a program in place to improve margins and thinks the volume growth will start to improve. Dividend yield of 2.1%. (Analysts’ price target is $48.00.)

Consumer Products
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $41.950
Owned: Yes

2017-11-10

COMMENT
Manulife Financial (MFC-T)

Sun Life (SLF-T) or Manulife (MFC-T)? In a slowly rising interest rate environment, both banks and lifecos will benefit, and you want to have representation in both groups. She owns 3 banks and 1 lifeco. Both have done well. This one was lagging, but has now played a bit of catch-up. Both just reported good results. Her preference would be this because she likes their Asian exposure, which will be a faster growth market.

insurance
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $26.910
Owned: Yes

2017-11-10

PARTIAL SELL
Methanex Corp (MX-T)

Take some profits or is there more room to run? The commodity is methanol and this is the leading producer. It is somewhat cyclical. The stock has done well. In a market pullback, concerns about economic growth, etc. the stock will likely pull back. She wouldn’t see any problems in taking some money off the table now.

chemicals
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $65.450
Owned: No

2017-11-10

BUY
New Flyer Industries Inc. (NFI-T)

This is on her watch list. They have 2 divisions, bus manufacturing and an aftermarket business. Just reported, and the aftermarket business was soft, so the stock pulled back. They are well positioned, so on this pullback, you could add to your holdings.

income trust
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $50.020
Owned: No

2017-11-10

COMMENT
Netflix Inc. (NFLX-Q)

(Market Call Minute.) This is interesting, because with the Disney proclamation that they are going to undercut Netflix and use their own flow of properties, we are now going to get into competition of content. That is going to force prices down, which is not going to be good for anybody but the consumer.

Gordon Reid

President, GoodReid Investment Counsel

Price: $192.020
Owned: Unknown

2017-11-10

COMMENT
Priceline.com Inc. (PCLN-Q)

Took a pretty severe haircut. This is a high beta stock, which reacts pretty meaningfully both up and down. They said that although they had outperformed and beaten the current quarter’s earning and revenue estimates, the 4th quarter will not be as strong as what the street was anticipating. They are changing their advertising model slightly. They’ll make $73-$74 per share in 2017, so we are talking $.50 on $74. Next year they will make in the mid-$80 range in EPS. They are growing gross bookings in the mid-20% year-over-year. A very, very well-run company. Online searches travel is still a nascent business. There is a long runway for them.

department stores
Gordon Reid

President, GoodReid Investment Counsel

Price: $1697.250
Owned: Unknown

2017-11-10

COMMENT
PepsiCo (PEP-N)

(Market Call Minute.) A well-managed company. About half their business comes from Frito-Lay salty snacks. This is one you might want to look at after the yield curve inverts.

food processing
Gordon Reid

President, GoodReid Investment Counsel

Price: $112.750
Owned: No

2017-11-10

COMMENT
Saputo Inc. (SAP-T)

A cheese/dairy processor. Just announced another acquisition in Australia. Good operators. The stock has done relatively well, but always trades at a premium valuation. It’s a consolidator, as there is not a lot of organic growth. Doesn’t see any compelling reason to own the industry. Other industries have more attractive growth rates. Dividend yield of 1.5%.

food processing
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $43.960
Owned: No

2017-11-10

COMMENT
Sun Life Financial Inc (SLF-T)

Sun Life (SLF-T) or Manulife (MFC-T)? In a slowly rising interest rate environment, both banks and lifecos will benefit, and you want to have representation in both groups. She owns 3 banks and 1 lifeco. Both have done well but her preference would be Manulife because of their Asian exposure.

insurance
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $49.290
Owned: No

2017-11-10

COMMENT
Snap Inc. (SNAP-N)

The earnings report was pretty dismal. This was a $20 billion app. They did it because they could and could monetize it, but since going public, they hit the top. The average daily usage is down quarter over quarter. A great example of how you have to be very, very careful when an IPO comes out, and what the motivation of the people selling it are.

Gordon Reid

President, GoodReid Investment Counsel

Price: $12.760
Owned: Unknown

2017-11-10

PAST TOP PICK
Tutor Perini (TPC-N)

(A Top Pick Nov 30/16. Down 7%.) In engineering and building business. A very large construction company that does airports, highways and major government building projects. Feels they are a victim of the infrastructure promise that really hasn’t materialized. Just reported, and it wasn’t a very good report. They have $7.5 billion of projects on the books. This is still a Hold.

REAL ESTATE
Gordon Reid

President, GoodReid Investment Counsel

Price: $24.200
Owned: Yes

2017-11-10

PARTIAL BUY
Visa Inc. (V-N)

A very, very predictable company. They don’t take credit risks, they’re a transaction company. They work their magic and replace cash with plastic. Have broken through geographically by becoming a more international company. They’ve been the leader in debit cards, which has become a dominant form of payment. They compete very well against competition. He would suggest you buy a half position and then leg in.

other services
Gordon Reid

President, GoodReid Investment Counsel

Price: $111.880
Owned: Yes

2017-11-10

HOLD
Walgreen Boots Alliance (WBA-Q)

This is in a tough spot together with CVS, because of their pharmacies and the Amazon (AMZN-Q) factor. There is a fear that Amazon is going to enter the market and take business away from them. It wasn’t long ago that Amazon bought Whole Foods, and the talk on the street was that they were going to destroy Walmart by taking the grocery business away from them. However, Walmart responded. There is going to be a response on this, and we are already seeing it in the industry.

specialty stores
Gordon Reid

President, GoodReid Investment Counsel

Price: $70.990
Owned: Yes

2017-11-10

HOLD
Xylem Inc. (XYL-N)

Based out of the US. They do water transportation, treatment and tests. There are not a lot of companies that focus in this space. She still likes it. The stock has done well, so the valuation is not as attractive as when she had purchased this in January. Emerging markets are about 20% of revenues and they are still building out their water infrastructures. In developed markets the water infrastructure is very old and needs to be updated.

environmental
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $66.250
Owned: Yes

2017-11-09

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

Market.  Some energy names may fall victim to tax loss selling.  This year the big caps were up on the year but the average is down about 9%.  CPG-T, for example went down greatly in 2014 due to tax loss selling.  This year the WTI is over $57 and the index is down about 9%.  The companies that are down are more into gas.  Service stocks are down 47%.  These stocks are all going to face tax loss selling.  He suggests for tax loss selling, roll over into a different company.

Josef Schachter

President, Schachter Asset Management

Price: $0.020
Owned: _N/A

2017-11-09

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

Natural Resources. What is working in natural resource markets isn’t demand creation, but rather supply destruction. The price has been so low for so long that in many industries, producers have deferred sustaining capital investments, so are losing their ability to produce, a very messy process. But what is interesting is that you match up supply and demand with supply destruction, the industry can’t respond to price signals again, because it takes a long time and a lot of money to bring that stuff back online.

Rick Rule

Pres. & CEO, Sprott USA

Price: $0.020
Owned: _N/A

2017-11-09

COMMENT
Barrick Gold (ABX-T)

While he likes the improved balance sheet and the cash costs, he is nervous about the production pipeline.

precious metals
Rick Rule

Pres. & CEO, Sprott USA

Price: $17.890
Owned: No

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