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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: Good Morning Peter and Team,
I am looking to add to a small position in Fiera Capital (FSZ- T). FSZ is growing much more quickly than other comparable small cap asset managers which makes most valuation comparisons difficult. However using the valuation metric "Enterprise Value divided by Assets Under Management" FSZ compares very favourably to other managers. See below:
FSZ- 1.2%
GS - 8.9%
SII- 4.7%
GCG.A- 2.4%
AHF- 2.1%
Excluding the recent deal that FSZ just announced the above list shows Fiera as undervalued compared to other small cap asset managers. My question: Is this valuation metric and line of thinking valid ??? I would appreciate your opinion.
Thank you. DL
Read Answer Asked by Dennis on September 05, 2013
Q: Hello Peter and associates, you have mentioned the savings available if one can buy several of the big banks instead of ZEB. I would like some bank(s) exposure (approx. $20,000.00 total). Of the "big six" banks in Canada can you tell which two you like the least? Also, if I buy ZEB it is eligible I understand for a partial drip program and I could reinvest in units, but if I bought a number of banks individually each quarterly dividend might not be enough to purchase a full share of each stock as the dividend is received, so I would be "eroding" some of the savings? Thank you, Bill.
Read Answer Asked by Bill on September 04, 2013
Q: Peter,

What are your thoughts on Fiera's deal announced today, strategy to grow through acquisition in the competitive US Wealth Management market and valuation on assets acquired?

Thanks,
Zach
Read Answer Asked by Zach on September 03, 2013
Q: AGF.B,which I have held for 5 years and doesn't really owe me anything on present price, keeps paying out the dividend despite apparently poor metrics and has even been rising for some time. Yet the market doesn't really seem to care. Is there something keeping it going such as a sale or might it be a good time to sell before it craters(it is only a small component of an income portfolio).
Thanks as always.
Read Answer Asked by David on September 02, 2013
Q: CIBC [CM]. I've heard it said banks tend to revert to the mean over time, so that those that are under performing tend to 'pull up their socks'. With CM and National Bank [NA] having yields over 4% would they be good banks to build/expand a portfolio of banks around assuming that, over time, their yields will come down?
Thanks for your thoughts on this.
Ron
Read Answer Asked by Ronald on August 31, 2013
Q: Sorry, it was Blackstone (BX-NYSE) that I meant to ask about. Biox also sounds interesting but a very different sort of investment.
Regards, Gail
Read Answer Asked by Gail on August 28, 2013
Q: Hello, I am thinking about buying an life insurance company as a hedge against rising interest rates. I would switch funds that I currently have in Riocan REIT. Do you think that this is a good idea and if so which of the companies would you recommend ie Manulife, Sunlife, or Great West Life. or any other insurance company you like. Thank you very much for your consideration.

Read Answer Asked by Alan on August 27, 2013
Q: Good morning 5i,
I own E-L Financial Corp's preferred shares ELF.PR.F, which I bought 4 years ago yielding 5.5% at the time. The shares are now lower and yield almost 6%, so I'm thinking of adding more to my portfolio (currently a 1% weighting). Other than interest rate risk, is there anything about this particular issue that would not make it a good candidate for long-term income? Many thanks in advance,
Brian
Read Answer Asked by Brian on August 26, 2013
Q: CHW - buying back stock again! Is this a prudent move at this stage. Would appreciate your opinion on this Co.
Read Answer Asked by Robert on August 23, 2013
Q: Hello 5i Team. I am thinking at purchasing KKR and GS and would appreciate your opinion on these two US stocks.
Read Answer Asked by John on August 22, 2013
Q: Hi 5i I have a 1.8% weighting in Aston Hill, I'm down approx.
10% I'm thinking of bringing the weighting up to 3%. I usually buy my stocks in 3 purchases until I have a 5% percent weighting
if the stock justifies it. What are your thoughts onAston Hill
Thx Gerry
Read Answer Asked by Gerry on August 22, 2013
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