Investment Q&A

Q: Peter, my two real estate companies in my portfolio are CIG and FSV and I want to rebalance down to 10 or 12%. I have read your recent comments about these companies and would like your opinion as to what two or three real estate companies you would use in a balanced portfolio. I am thinking of selling both and buying some stocks with more upside.

Thanks, Stephen

Q: Hi, I would appreciate your comments on CSU earnings released Wednesday evening. Looks like a nice beat on EPS ($4.67 against $4.23 estimate)and EBITDA ($120 mln against $117 mln est). Currency headwind appears to have impacted organic growth rate for this quarter and 9 months period. Thanks

Q: Can you tell me what the earnings expectations are for this company. thanks.

Q: Constellation will issue its earnings release tonite. Could you please advise what analysts' expectations are for CSU's results? And thank you for helping us soldier through this very difficult market. Peter

Q: Peter and Team,

My portfolio is largely in line with the balanced equity model portfolio. I currently have 3.9% of the portfolio in IPL. I wondering if I am better off keeping IPL or moving that money (and may be increasing the position to 5%) to Brookfield Renewable Power. It feels like the world is shifting to renewable regardless of economics and I am wondering if BEP will give me a better long term return than IPL. As a piece of side info, I hold stock in TransCanada as well.

Thanks for the input.

Marc

Q: I am considering taking positions in two speculative names - Questor and Sherritt. Given a high risk tolerance, which would you prefer.

Q: Hi Peter & Team,
How much importance should we allocate to debt/Equity ratio?
For example: Ratios for VNR, BEP.UN and RY are 5.39, 2.03 and 0.13 respectively. From these ratios, we should stay away from VNR and BEP.UN yet they are both included in your income portfolio and BEP.UN has A rating. The ratio for VRX is 4.76
Thanks

Q: I own Canexus The shares were valued at $ 1.70 in exchange for spb shares I like spb for the dividend

now trading in the mid & 1.30 Is there an opportunity here
why are the shares trading at such a discount Your advice is appreciated
Paulh

Q: In all the releases, as expected, DH management emphatically defended the company against the shorter report, but never issued any specific counter points on those accusations in the print releases. I missed the morning CC session, but are you aware if management dealt with the key specific attack points during that forum. Thanks.

Q: Any thoughts on PM's quarterly numbers? There seems to be an enormous chasm between the expected earnings per share and what Prism actually delivered. Taking into account the one time items, the gap closes a little but still I'd like your expert opinion on the numbers.

Revenues were up nicely but earnings fell significantly. Do you see anything in the numbers that raises a red flag or cause for concern?

2016 earnings per share estimates were 75 cents, prior to today's q3 numbers. Any guesses what the new estimates will be for 2016?

Thanks for your time.

John

Q: I have been eyeing Prism as a healthcare position, mainly for income and hopefully some growth. With today's big drop, is it more attractive or less? What is the payout percentage and how sustainable is the dividend? I was considering about a 1.5% position, as this is not a heavily traded stock.

Thank-you

Q: Hi there,
Any idea what is causing PM to drop today? Tx

Q: Thoughts on their quarterly results?

Thanks

Robert

Q: I see a lot of questions concerning DH for obvious reasons. Would you consider an investment in DH.DB to be a safer approach with exposure to capital gains if the common moves back up? There is, of course, the return to par when bonds mature as well as relatively thin trading.

Q: What do think of Goeasy.
I would have thought it would be doing better in a sluggish economy..
Maybe something has changed at the Co?
Would you add to possition now?

Q: Further to Antoine's question, first valeant, then Davis Henderson and now Boyd is down 10% today due to rumours of a short selling report about to be published. This is ridiculous. I have positions in all 3 and now down significantly. I can't compete against insider manipulation and human greed. I will be reducing equity holdings and increasing GIC's etc. The stock market is not regulated enough to create an equal playing field. Any advice on Boyd is appreciated. thanks

John

Q: Another Canadian roll-up targeted by shortseller. Boyd Group hit today, chatter that is on short attack $BYD.TO.
Frustrating --to say the least on these rollup companies

Q: Boyd down over 10% on the day and still falling. What is going on?

Q: Hello Peter & 5i team,
First Valeant, now DH Corp ; what is going on ? We are facing a very unhealthy investment environment.
It seems that Canadian Securities regulations are not as constraining as those in the USA and short sellers take advantage of this with impunity ; but it obviously will take ages to sort this out.
In addition to that, it also seems that short sellers have a template approach to identifying vulnerable companies in Canada : (1) higher reliance on growth by acquisition and less on organic growth, (2) higher relative debt level, (3) complicated and less transparent ownership structures. Valeant would fit the bill, but DH ?
Both management teams have intervened, but to no avail : DH was up today by 11% at the open but is now down 5% in mid-morning.
I am exasperated by the situation even though the portfolio of stocks I currently own is up by 10% so far in 2015; however, making a major overhaul of the portfolio in reaction to the current environment would smack of paranoia.
Your soothing comments would be most welcome.
Regards,
Antoine

Q: would you recommend buying dh here?