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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: Jimmy asked a question on May 4th regarding the CSC. I wrote it last year and used a book by Sean Cleary. see http://ca.wiley.com/WileyCDA/Section/id-302478.html?query=W.+Sean+Cleary. I used it as a complement, rather than substitute, to the two CSI textbooks. Good luck!!!
Read Answer Asked by Steven on May 05, 2015
Q: I went to Chapters today to look for a book ob the Canadian Securities Course. There were alot to choose from. Just wondering if you or someone can recommend a good current book to help study and prepare for the CSC test. Thanks
Read Answer Asked by Jimmy on May 04, 2015
Q: Hi Peter, Ryan and 5i team,

How do I make money in a bear market? If we go back to late '08 until mid '09 it was very hard not to albeit temporarily lose money. Are there ETF shorts you would recommend? Do you agree that when the yield curve inverts that its time to head to the exits, or by then will it have been too late? thanks so much for your help.
Read Answer Asked by mark on May 04, 2015
Q: Hi,

Do you ascribe any value to the tax loss carry forwards on company balance sheets? If so, how do you value such tax losses?
Read Answer Asked by Nawaz on May 04, 2015
Q: I am having difficulty determining and rationalizing payout ratios. Different sites give different ratios. A couple days ago you answered a question on Pembina stating the dividend is safe. GlobeInvestor tells me the eps is 1.07 and the dividend per share is 1.74 giving a payout ratio of 162%. Several other prominent dividend companies also show payout ratios over 100% using the same methodology. Am I missing something or are these dividend payouts at risk?

Thanks so much!

Gary
Read Answer Asked by Gary on May 04, 2015
Q: Hi everyone. Sure appreciate all the research. My question is on Coeur Mining. It trades on NYSE symbol CDE at a price about $5.63. It is also listed on the TSX with symbol CDM.WT at around $0.44. Would you be able to tell me what CDM.WT is?
Read Answer Asked by Wes on April 30, 2015
Q: It appears that there is sector rotation going on from tech to resource class. Has oil bottomed out and price of commodities stabilized? Is it due to reversal of US dollar trend or other factors? Will you pl provide detailed explanation of these trends and your recommendation for sector allocations and winning short term strategy?
Regards,
Read Answer Asked by inderjit on April 30, 2015
Q: I notice they have just announced a bought deal offering of shares at 1.25 per share. Can you explain how they could offer shares at above the current price. Thanks.
Read Answer Asked by wendy on April 30, 2015
Q: Hi, in your opinion, what are the best books to get a better understanding about a company's fundamentals, especially trying to compare companies to companies in different industries, thanks?
Read Answer Asked by Pat on April 30, 2015
Q: For a long-term horizon, 20 years, what would be an appropriate percentage allocation to U.S. Equity for a pure equity portfolio? Is International equity also recommended? Thanks for the excellent service!
Read Answer Asked by Derek on April 30, 2015
Q: I am not one to be too worried about the exact price at which I purchase a stock, as I take to heart your advice that for a true investment that could last years, a percentage or two difference in price isn't going to be a deal breaker.

Having said that, you once commented on the best time of day to buy a stock but I can't locate your answer now. If I remember correctly, you suggested that one should wait until an hour or so after the opening bell for some reason.

If that is correct, I was wondering if any time after 10:30 a.m. (EST) is good or is it better to wait until just before the closing bell, during lunch etc or does it really not matter?

Appreciate the insight.

Paul F.
Read Answer Asked by Paul on April 28, 2015
Q: re: Hal's question of Apr. 27 for a site that classifies stocks for seasonality. He could try EquityClock.com. There are charts and tables for stocks, sectors, indexes.
Read Answer Asked by chris on April 27, 2015
Q: Hi Peter and team. For the most part, I am a buy and hold investor with a very long time horizon especially for dividend-paying stocks. However, I also use a buy-write strategy where I write covered calls on stocks. For example, I am considering doing this with AAPL $135 calls expiring in July (07/17/15) that last traded at $4.46. So, if buy 100 shares stock and write 1 call, three month upside (after transaction fees) about $900 for a $13000 investment (7%) Any thoughts or advice on this? (E.g. what time frame for calls would you suggest? Any "art" of selecting the best delta?) Thanks for great service!
Read Answer Asked by Steven on April 27, 2015
Q: After reading your column in Saturday's National Post my eyes wandered to
the right, a beginner's guide to Alternative Investing. What do you think of the article
and what funds would you recommend? Would you recommend any ETF exchange
Traded alternative funds by Purpose Investments Inc.? I like most investors have avoided this this type of investing because we really do not understand it.
Thanks to all.
Read Answer Asked by Warren on April 27, 2015
Q: I'm having difficulty trying to classify stocks (eg consumer discretionary, materials,consumer staples, industrials) for seasonality. Is there a site that classifies Canadian stocks?Thanks for your input
Read Answer Asked by hal on April 27, 2015
Q: Do you know where I can view what % of a company insiders own? Thank you.
Read Answer Asked by Manoj on April 27, 2015
Q: I am looking to diversify my holdings outside of Canada as we are told we should.I am looking for ETF's for U.S. as well as other world markets.It would be best if you could start other model funds for outside of Canada or recommend a clone of yourselves.
Read Answer Asked by Brad on April 21, 2015
Q: Sierra Wireless trades on the American exchange as SWIR and on the Canadian exachange as SW. On some days there is more than a 1% difference in the change between the two exchanges. Most often there is a differenct. Can you explain?
Thank you.
Read Answer Asked by Lucy on April 17, 2015
Q: I have never used stop losses but with big gains in stocks like CSU and T wonder if I should start using on the stocks held in my TD Waterhouse account.
Thanks for your opinion
Read Answer Asked by Lesley on April 16, 2015
Q: Hi Mr. Hodson and Team:
We keep hearing about the end of the Commodity Supercycle and China slowing down, and we keep sweating.
Maybe we ought to trim our Canadian Resource exposure.

We hold the following (post recent sell-offs):
Can. Energy Producers: 10.7%.
(Cpg 3%. Arx 3.1%. Vet 2.4%. Bte 0.6%. Eca 0.9%. Bnp 0.3%. Su 0.2%. Cnq 0.2%.)
Can. Energy storage/ Pipeline: 4.5%.
You said these are Hybrids, so would count as 2% of Energy.
Makes my Total Can. Energy = 11.7%.

Materials: 7.2%.
(Tck 1.8% + Can. Agri/Lumber 5.4% )

Can. Gold: 3.4%.
G 1.5% + CGL 1.1% + ELD 0.4% + K 0.4%.

Makes- Total Can. Resource exposure: 22.3%.
(Above Energy 11.7% + Materials 7.2% + Gold 3.4%).
Too much in a volatile, cyclical and perhaps SunSet (post-China), Sector?

Perhaps, we should trim Total Resource down to 12%?
Keeping Energy 4% + Materials/Agri/Lumber etc 8%?
What is your opinion of this trimming/ allocation/ %age?

What Percentage would you suggest? Please comment. Thanks so much. sarah.
Read Answer Asked by sarah on April 16, 2015
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