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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: The stock had a "provision of income taxes" of $48M and that has killed their earnings.
Their net loss is actually better this Q compared to Q2.
Net loss before income taxes this Q is $24M compared to $28 in Q2.
Shouldn't this $48M be omitted in the calculation for adjusted income/loss?
Read Answer Asked by Herm on October 29, 2019
Q: 2 market darlings getting hit. 1)PBH reached a high of some $122.59 in 4/18 then started a decline reaching a low of about $67 in 11/18,then traded in a range until CPP invested($200m) in 2019.As a result price went to some $98.38 on Sep 3 before starting decline with big declines the last 2 days($87.74 c on 10/25).Your opinion please.Is tis an opportunity to start a position? 2)TOY dropped from a high of some $59.40 in 7/18 due to so many headwinds(eg ToyRUs,poor results of Hasbro,tariffs on China,expected flat eps in 2019 with growth in 2020 etc) to close at $35.04($34.82 being 2019 low achieved on 10/25).What are the chances of a recovery soon so as to start a position. Thanks for u usual great views & services
Read Answer Asked by Peter on October 28, 2019
Q: I have been away for a few weeks and went back to listening to my business podcasts. One that I enjoyed tremendously is the National Post podcast on climate change. It’s great listening and I do love her co relation of the climate change situation and the hysteria about it to a Monty Python skit , the fact that a lot of people are willing to blame yet very few are willing to talk about solutions. Great listening and a great explanation . the link to the podcast.

https://podcasts.apple.com/ca/podcast/down-to-business/id1460294675?i=1000453699239

The company has no debt and seems to be in the sweet spot of growth at the moment, your views on the company and its air quality improving technologies please , thanks, Jean



Read Answer Asked by Jean on October 28, 2019
Q: Hello 5i,
I have read through all the related q&a's and just wanted to ask this:

The conversion is slated for Jan. 1, 2020 and it seems likely to pass the shareholders vote in early December. Their press release mentions the change to a stock company will bring improved liquidity, more shareholders, more global investors (institutional) and it removes the limits on foreign ownership. These are all positives (sounds much like an IPO).
It seems fine to start a new position in it now, as opposed to waiting until after the transaction is completed. If it's going into a reg'd account, there's no tax issues with the conversion; and 1 unit now will equal 1 new share. So a fella can buy it now, correct?
Read Answer Asked by Robert on October 28, 2019
Q: Regarding the previous question on Premium Brand's weakness on Oct 24...

Yesterday, White Crane Capital recommended shorting Maple Leaf Foods and perhaps that negative sentiment took down PBH in sympathy, as well.
Read Answer Asked by john on October 25, 2019
Q: Hello 5i Research team,
My question relates to your answer to a recent question from “dave” about “must own”. Could you conceptually define what a “must own” company? They are probably the foundation of a stock portfolio; each of these companies should be kept to a full position throughout the economic cycle. That’s where it gets interesting, because your list included GSY and GIL.
As a long term owner of GSY (thank you 5i), I would tend (if capable) to overweight (let it run) during the most favorable portion of the economic cycle, but to underweighted it when the credit cycle deteriorate. Would you agree?
About GIL, but not specifically about GIL: when a situation such as what happened to GIL recently would happened about one of these selected companies, would you almost automatically buy the dip to increase back the position to a full position, and think about medium and long term? Would you agree?
Thank you for your collaboration, Eric
Read Answer Asked by Eric on October 25, 2019
Q: Hello 5i Research team,
Would you say the acquisition of Biotoscana reduces the probability of GUD acquiring ENDO in the short term? Would GUD buy all ENDO, or exclusively the equivalent of the former Paladin? What premium or what price would you expect GUD to pay for ENDO if buying the whole company? What would be signs ENDO would be ripe to be saved?
Do you think the acquisition of Biotoscana will shut down Medison for a while? At least until after the next annual meeting, so that a second proxy fight would be avoided in the short term?
Based on the evolution of its stock price since its IPO, Biotoscana seemed not that successful as a stand alone company. What GUD can do to help turn things around / improve operations with such a small GUD team?
Thank you for your collaboration, Eric
Read Answer Asked by Eric on October 24, 2019
Q: I sold my holdings in MX more than 30 days ago intending to buy in agail as I think the company has been unfairly beaten up. Considering tax loss selling, a spike seems remote unless they report amazing results on Oct 30. Do you think its too early to jump back in? Would it be prudent to to wait until maybe mid November. The charts are really unhelpful but it is above its 50 day moving average.
Read Answer Asked by Don on October 24, 2019
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