Investment Q&A

• Gluskin Sheff + Associates Inc. (GS $14.24)
  • $14.24 P/E (TTM): 17.0X Cap: $444M
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Q: Does GS's recent poor share price performance reflect anticipation of an adverse arbitration decision? Put another way, is there a price at which the likely cost of the decision is baked-in and GS becomes attractive for its margins, yield and cash?

a reflection of

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Read Answer Asked by John on May 25, 2017

• Home Capital Group Inc. (HCG $44.26)
  • $44.26 P/E (TTM): 9.39X Cap: $1.69B
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Q: If I were to buy a GIC from Home Capital under 100000, what would happen if they went broke? I understand that the GIC is insured, but for how long would the money be tied up while all the paperwork gets done? And I guess I wouldn't get interest during that time?
Thanks

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Read Answer Asked by Pat on May 24, 2017

• Miscellaneous (MISC)
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Q: I am looking for some education on the impact of a loss of mortgage origination on a bank. Let's say that starting tomorrow, BMO can only find half as many people to sell mortgages to, but, all current mortgage holders renew their mortgage with them every 5 years, and keep paying their mortgages. Does it impact their P/E ratio? I'm guessing that the earnings would drop because there would not be enough new mortgage payers to compensate for those who are are almost done paying off their mortgage?

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Read Answer Asked by Matt on May 24, 2017

• Manulife Financial Corporation (MFC $47.48)
  • $47.48 P/E (TTM): 15.27X Cap: $80B
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• Great-West Lifeco Inc. (GWO $62.72)
  • $62.72 P/E (TTM): 14.3X Cap: $57.93B
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• Sun Life Financial Inc. (SLF $83.02)
  • $83.02 P/E (TTM): 20.66X Cap: $47.23B
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Q: Hi,

Of GWO, MFC & SLF, which do you prefer for total returns over the next couple of years & why?

Thanks,

Gord

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Read Answer Asked by Gordon on May 23, 2017

• Canadian Western Bank (CWB $56.63)
  • $56.63 P/E (TTM): 20.63X Cap: $5.47B
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Q: I am thinking of purchasing a 2 year GIC. Would you consider CWB a safe investment considering what is going on with Home Capital?

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Read Answer Asked by Jerry on May 23, 2017

• Sun Life Financial Inc. (SLF $83.02)
  • $83.02 P/E (TTM): 20.66X Cap: $47.23B
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Q: Hi, Please share your thoughts about Sunlife. would you consider current price as a good entry point. Also, do you expect share price to be volatile in near future with presidential issues south of the border.

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Read Answer Asked by Harpinder on May 19, 2017

• TMX Group Limited (X $52.00)
  • $52.00 P/E (TTM): 31.22X Cap: $14.54B
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Q: Can I get your thoughts on TMX?

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Read Answer Asked by Alex on May 18, 2017

• Toronto-Dominion Bank (The) (TD $114.46)
  • $114.46 P/E (TTM): 9.64X Cap: $194.70B
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• Bank of Nova Scotia (The) (BNS $94.66)
  • $94.66 P/E (TTM): 18.16X Cap: $117.52B
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Q: biggest bang for the buck bns or td? tks pat

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Read Answer Asked by patrick on May 16, 2017

• Royal Bank of Canada (RY $206.93)
  • $206.93 P/E (TTM): 15.57X Cap: $288.66B
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• Toronto-Dominion Bank (The) (TD $114.46)
  • $114.46 P/E (TTM): 9.64X Cap: $194.70B
  • View TD Profile
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• Bank of Nova Scotia (The) (BNS $94.66)
  • $94.66 P/E (TTM): 18.16X Cap: $117.52B
  • View BNS Profile
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• Sun Life Financial Inc. (SLF $83.02)
  • $83.02 P/E (TTM): 20.66X Cap: $47.23B
  • View SLF Profile
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• goeasy Ltd. (GSY $119.91)
  • $119.91 P/E (TTM): 8.98X Cap: $1.97B
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Q: Can you rank the stocks best to worst in your opinion. These are the stock s that are in my Financial Services Sector. Would you add, swap or remove any of them? My portfolio holdings/thoughts are very similar to your BE Portfolio. I was thinking to remove RY. Thank you and great job.

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Read Answer Asked by Terry on May 16, 2017

• ECN Capital Corp. (ECN $3.02)
  • $3.02 Cap: $850M
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• Acasta Enterprises Inc. Class B Shares (AEF)
  • P/E (TTM): 5.2X Cap: $161M
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Q: Both companies still an interesting long term buy after "Acasta Announces Acquisition of ECN Capital's Commercial Aviation Business" ? Is this win-win deal?

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Read Answer Asked by MG on May 15, 2017

• Power Corporation of Canada Subordinate Voting Shares (POW $69.60)
  • $69.60 P/E (TTM): 16.67X Cap: $44.39B
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• Fiera Capital Corporation Class A Subordinate Voting Shares (FSZ $6.06)
  • $6.06 P/E (TTM): 20.45X Cap: $646M
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Q: I have held POW for many years and am thinking about a switch, what do you think about selling POW and replacing it with FSZ?
appreciate your efforts.

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Read Answer Asked by ralph on May 15, 2017

• Power Corporation of Canada Subordinate Voting Shares (POW $69.60)
  • $69.60 P/E (TTM): 16.67X Cap: $44.39B
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Q: hi what is your opinion of pow have you got a better idea

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Read Answer Asked by earl on May 15, 2017

• Element Fleet Management Corp. (EFN $35.37)
  • $35.37 P/E (TTM): 23.73X Cap: $14.14B
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• ECN Capital Corp. (ECN $3.02)
  • $3.02 Cap: $850M
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Q: YOU ANSWERED A READERS QUESTION ON EFN FAVOURABLY . YET SHARE PRICE OVER LAST WEEK AND 3 MONTHS ARE NEGATIVE.
ECN ON OTHERHAND SEEMS TO BE DOING MUCH BETTER .PLEASE CLARIFY

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Read Answer Asked by thambirajah on May 15, 2017

• Canadian Imperial Bank Of Commerce (CM $122.05)
  • $122.05 P/E (TTM): 14.61X Cap: $113.64B
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Q: Is CIBC a good buy at this level or should I wait or buy one of the other large banks??
This would be for my income portfolio.

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Read Answer Asked by Stephen on May 12, 2017

• Fiera Capital Corporation Class A Subordinate Voting Shares (FSZ $6.06)
  • $6.06 P/E (TTM): 20.45X Cap: $646M
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Q: CAn you comment on earnings and current valuation.

Thanks

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Read Answer Asked by kelly on May 12, 2017

• Royal Bank of Canada (RY $206.93)
  • $206.93 P/E (TTM): 15.57X Cap: $288.66B
  • View RY Profile
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• Toronto-Dominion Bank (The) (TD $114.46)
  • $114.46 P/E (TTM): 9.64X Cap: $194.70B
  • View TD Profile
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• Bank of Nova Scotia (The) (BNS $94.66)
  • $94.66 P/E (TTM): 18.16X Cap: $117.52B
  • View BNS Profile
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Q: HI peter Can I have 5I comments on Moodys downgrade on Can banks
Kind Regards
Stan

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Read Answer Asked by Stan on May 12, 2017

• iA Financial Corporation Inc. (IAG $163.58)
  • $163.58 P/E (TTM): 13.65X Cap: $15.18B
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Q: Can you please comments on IAG earnings.

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Read Answer Asked by Hector on May 12, 2017

• Home Capital Group Inc. (HCG $44.26)
  • $44.26 P/E (TTM): 9.39X Cap: $1.69B
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Q: Question relates to the current short position on Home Capital. With the recent 60% plus drop, I assume a lot of short covering occurred. With today's run up north of $10, I am wondering if the shorts are gearing up again. What do you think 5I and pls advise what % of float is shorted currently

As always, thanks!

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Read Answer Asked by Harry on May 11, 2017

• Home Capital Group Inc. (HCG $44.26)
  • $44.26 P/E (TTM): 9.39X Cap: $1.69B
  • View HCG Profile
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Q: Is the HCG movement up speculation or is the situation improving for the company?
Thank You

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Read Answer Asked by Peter on May 11, 2017

• Home Capital Group Inc. (HCG $44.26)
  • $44.26 P/E (TTM): 9.39X Cap: $1.69B
  • View HCG Profile
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Q: Good morning,
I am curious about HCG and its recent stock price rise.
If other banks/investors are taking a stake in this company by assuming responsibility for the mortgages within, how does this add value to HCG? I am assuming that the "insurers" are doing to collect the mortgage premiums.
Thanks
rick

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Read Answer Asked by Richard on May 11, 2017