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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: hello 5i:
I'm currently slightly underweight financials and would like to add to a small holding of FSZ. I've read your reply to a question in December (FSZ vs CF),and am slightly puzzled by the response. FSZ currently trades at a PE of 13.7 vs a normal PE of 21.5 and a cash flow of 15.4 vs a normal of 24.5. This appears, to me, to be much more upside than CF offers. Do I have my figures right? Do you consider FSZ a buy at the moment, or should I be looking to add to positions in BNS, or other areas of the financials that show more opportunity?
thanks
Paul L
Read Answer Asked by Paul on January 04, 2015
Q: Hi Everyone and Happy New Year to All
I am hoping you can help with an analysis of CSU.My broker shows expected earnings for 2015 of $15.09 although that is up from 14.89 60 days ago.Is this what you are expecting? Also I am wondering what cash flow number you expect.
Is cash flow a better figure to look at here? I notice they record Goodwill and Intangibles separately but only amortize Intangibles?
Would a declining Euro have much impact on their numbers?
Many thanks
Mike
Read Answer Asked by michael on January 03, 2015
Q: I have held on to this stock in order to take the gain in 2015. There was some talk around the time the takeover was announced about an extraordinary dividend upon closing. Do you have any news or information about this? Should I sell or hold on until closing?

Jim
Read Answer Asked by James on January 03, 2015
Q: Happy New Year. I have a 30 stock portfolio that is equal weighted. One of the position is BPF.UN. I have concerns that Boston Pizza will face headwinds this year given 103 out of 358 stores are located in Alberta and that part of the Canadian economy will taking it on the chin due to lower oil prices. Is this a concern? If you held this would you continue to hold? many thanks.
Read Answer Asked by Matt on January 03, 2015
Q: Hi Peter, Regarding the closing of acquisition of Pioneer Energy:

"Parkland announces that its 2015 guidance of $235 million to $265 million in EBITDA will be reduced due to this delayed closing. Parkland's 2015 guidance will be updated once the consents and approvals have been obtained, and the anticipated closing date for the Acquisition is determined. Parkland does not expect the annualized EBITDA of the Acquisition of approximately $55 million to be affected by this delayed closing."

What are your thoughts on this? How would this affect the stock price? I own it @ 21.50....if affected negatively, would it be a good idea to sell and repurchase at a lower price?

Thank you! and I wish you, your team and all the members a Healthy, Happy and Prosperous New Year!!
Read Answer Asked by Silvia on January 03, 2015
Q: Any info on the recent run up the past week? I have been aware of Leon's since 1982 when an old friend was a shareholder back then.

thank you and best in 2015 to you and your staff
Dan
Read Answer Asked by Daniel on January 02, 2015
Q: What is your view of the news released after-hours on Dec 31? The payment of $4.9 M across 13.3 million shares is .37 per share. I can't find details of the US royalty stream and how it compares to the buy-out amount. Perhaps this is a "bird in the hand" scenario: better to have $4.9 million in cash now, to grow the Canadian business. I'm up 20% on a half position and considering adding. Does this news support that?
Read Answer Asked by David on January 02, 2015
Q: Just looking for a quick check on a calculation. My broker shows BDI with $415m of shareholder equity and 43m shares (no preferred equity that I can see). Am I right in thinking this gives a book value of $9.00 per share? Also with new guidance what would this suggest for cashflow per share?
Thanks Mike
Mike
Read Answer Asked by michael on December 30, 2014
Q: Hi and Happy New Year!

What is your current thinking on Equity Financial and do you think it has a good entry point now for a long term holder? Thanks again.
Read Answer Asked by Pat on December 30, 2014
Q: Hi,

From 06/30/2013 to 06/30/2014 BYD.UN posted 5 quarters in a row with negative net earnings, yet the stock performed very well. Short interest has also risen during the same period from almost 0% to currently over 7.5%. Revenues, operating income and cash flow all increased over the same period, which I am assuming is what the market liked and focused on. My question is, do the negative net earnings concern you, or is this something that can be explained and justified either from acquisitions they made over the period, or certain accounting practices they use?

Thanks for the great service in 2014!
Read Answer Asked by Adam on December 30, 2014
Q: Hi Peter & Ryan,
Is there any news about CFN? - was the deal closed?
Thanks for the update & Happy New Year
Morris
Read Answer Asked by Morris on December 29, 2014
Q: I am seriously considering WSP from your Income Portfolio. Aside from the nice dividend, I like the more than five-fold revenue growth since 2008. But, I am concerned that EPS has actually decreased over the last 5 years. With this lack of accretion from previous aquisitions, how can I have confidence that the most recent acquisition will pay off? I am also concerned about the high P/E multiple of 23 times TTM earnings. The forward P/E of 16.8 is not too bad, if they can actually pull it off. I would appreciate your comments and your recommendation.

Thanks,
Hans
Read Answer Asked by Hans on December 29, 2014
Q: Which are the best two picks to buy right now between Home Capital, Enghouse and Easyhome?
Read Answer Asked by RANDY on December 29, 2014
Q: Peter and Team,
A quick question re: averaging down. First, we am doing very well with the overall portfolio; Thank you !! BDI is a outlier down 65% from where we bought and is now a minor player for us. With your positive outlook for BDI, is it time to average down ? Is this a typically a prudent strategy ? Many other "experts" frown on this. All the best to you all for a safe rest of the Christmas break and for a really Great 2015. Paul
Read Answer Asked by Paul on December 29, 2014
Q: NAL : TSX. According to yahoo's website. NAL's projected revenue Est for 12/14/14 is 858.04M. It's projected revenue Est for 12/14/2015 is 994.56M. It's Est growth Est for 12/14/14 is 11%, it's Est growth for for 12/14/15 is 30%
It's growth Est for the next five years is 22.5% with a five year PEG of .80
All the numbers look good and it's not more than twice growth. I compared to same numbers to Canadian Oilsands, to my surprise the numbers tell me NAL : TSX is way better. What are your thoughts.
Read Answer Asked by Michel on December 29, 2014
Q: I would like to buy a stock for my TFSA in January 2015 that will have a good chance of having a large gain and long term growth. I am thinking about beaten up stocks like BDI, CPG or Cos. What would you recommend?
Read Answer Asked by Anne on December 27, 2014
Q: Hi Peter & 5i Team,

On Market Call on Dec 24, Jason Donville of DKAM seemed to be negative on RC. Do you agree with his views. I currently have a 2 % position with a gain of 10%. Would you advise me to sell. If so, which small cap stock (non energy/tech) would you recommend to buy to replace it.

Thanks in advance

Francis
Read Answer Asked by Francis on December 25, 2014
Q: In a recent answer you said you would not buy it at this level. Would this be a good time to take some profit and wait for a pullback? The ex-dividend date is Monday - does that mean I have to own it on Monday and sell Tuesday in order to get the dividend or can I sell Monday and would still receive the dividend. One last question - did the dividend decrease this month from .125 to .11. Thanks for all the terrific information. Happy holidays.\m
Read Answer Asked by Maggie on December 25, 2014