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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: I have a question about CCL.B - I know you have answered questions on this one but given the current price action (looks like strong support here in the $54 - $55) can you elaborate on who is there competition is in the space and they losing or taking market share given packing labels are moving to more self-less cashier stores? Thank you
Read Answer Asked by Aubrey on October 05, 2018
Q: Please clarify your answer you gave to my question on MAXR.
You included in your response the following statement .“We would not see any need to add to a losing position." BUT I was not asking about adding. Did you mean “hold”? as in sell in January?



:ao:






5i Research Answer:
We would not say we are highly confident in MAXR, but the large price adjustment (down 48% this year) does change the risk/reward scenario. With expectations low, a good contract or positive earnings surprise could still result in good stock gains from current levels. We would expect tax loss selling, which may be happening already. Either now, or in early January, would likely get a better price if one was selling. On valuation MAXR is very cheap, but the debt adds some concerns. We would still put it into the higher risk 'hold' category. The worst should be over and the short sellers will eventuallly move on. We would not see any need to add to a losing position.
Read Answer Asked by Adam on October 05, 2018
Q: I have a question about 323 .
Hi,
I sold a small position on GC for tax loss. I could do the same for TSGI (andl plan to buy back)? But I do not want to do that in case something good could happen in short term. I have a -25% on TSGI currently. Please let me know your thoughts. Thanks.

Shyam
Read Answer Asked by Shyam on October 04, 2018
Q: Hi, For several weeks, Constellation Software has been trading in a range $920 -$980.
Even on strong market days, stock is not bale to break out of this range. This is after stock touching a high of $1135 and later trading as low as $897 ( 20% swing). There has been no news. Do you think, the stock is expensive or any other reason of this lackluster performance ? Do you see share price back up in $1100 + range over next 12-18 months, if I need to trim my position ? Thanks
Read Answer Asked by rajeev on October 03, 2018
Q: MAXR is no longer a company you like much. You did before and your view of MAXR went from positive to negative and you seemed just as disgusted as others at the company. I am down some 35% from cost. This is a request asking you to confirm (or deny) that you have in fact given up on them (?). If however you have regained confidence in the company’s prospects, I would appreciate your updated thinking and the reasons. MAXR’s results are lumpy and contracts can be wildly profitable or go horribly wrong. But do you believe the outlook is better now?

At first glance, it may appear my question below concerns ‘market timing’. No, it isn’t that except in a very limited or narrow sense. I can’t use the tax loss and I want to increase the Canadian content of investments (I have only 5% of assets in Canada and want to increase same to 25%.

QUESTION : Since we are now in tax loss harvesting season, am I better to sell AFTER the tax loss season ? Is there ANY logic to the thinking that , all else being equal, I am more likely than not to get a less depressed price AFTER the tax loss selling stampede? I am not looking for a definitive answer (that’s not available). I am looking for your insight BEYOND first level numbers and data. ( I did buy companies from 5i model portfolios and ones I bought are all down but at least most seem to have possibilities. If you think there is now hope for MAXR, please advise reasons your opinion has evolved to conclude there might be chance MAXR is worth holding.
Read Answer Asked by Adam on October 03, 2018
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