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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: I would like to add to one of these stock positions in the balanced portfolio. Which is your pick today?
Read Answer Asked by David on January 28, 2019
Q: Good Morning,
I have narrowed down my decision to buying either COV or PHO for my $6000 TFSA contribution this year. I don't need the money for years into the future and risk is not an issue. I like both very much but wondering what you think for maximum growth? I think PHO is more cyclical and if we do get into a recession in the next 2-3 years it could take a pretty big hit. However, Covalon being in the medical supplies industry I would think it would hold up pretty well during a recession? What would you buy to maximize growth over the next 10 years plus ?
Thanks
Read Answer Asked by Chris on January 27, 2019
Q: I have a question about ECN.

I have been patiently holding for over a year now after buying around 4.30. I am quite frustrated with price action and am wondering what it will take to see ECN over 4.30 (if ever) and how realistic it is to believe that there will be a catalyst that moves this stock to above $4 and perhaps closer to $5.
Thank you,
Sam
Read Answer Asked by sam on January 22, 2019
Q: If I want to choose between TCL.A and CCL.B for a one year hold, which one would you recommend? I'm looking at the combined growth and knowing TCL.B is ahead of CCL.B on yield (4% vs. 1%) as is. Thank you for your insight.
Read Answer Asked by Victor on January 22, 2019
Q: Very disappointed in yet another 5i pick in the income portfolio down substantially until a final sell recommendation is released.
You state: "With declining equity markets, lower assets under management and increasing competitiveness in the Canadian financial industry, we have decided to sell Gluskin Sheff"
My question is, why did you recommend it in the first place? All the items applied when you decided to add it to the income portfolio. Seems another stock where you were simply chasing yield without dying proper DD.
Read Answer Asked by Curtis on January 21, 2019
Q: Hi there, I'm looking to replicate your balanced equity portfolio with a few adjustments for a slightly higher tilt towards growth. I have a 2 part question: Would AQN be a suitable substitute for ENB for an investor? Also, what other more conservative names in your balanced equity portfolio would you swap out for higher growth names at this time?

Thanks!
Read Answer Asked by Michael on January 21, 2019
Q: Hello there ,
Do you think Mark Leonard of CSU has ever thought of selling CSU and starting again? As Constellation gets larger and larger one would think their growth rate will slow. It might be a challenge to have the same success in the next 10 years as he has had in the last 10 years. I know he has identified tens of thousands of potential takeover targets, do you think it makes sense to sell CSU and start CSU part 2? A new company could be valued back at $25/share and one would think he could double to $50 quickly and again to $100 starting from scratch quicker than $1000 to $2000? So many more deals need to be made now and much larger deals potentially to move the needle. Thoughts?
Thank-you
Read Answer Asked by Chris on January 21, 2019
Q: Can you please identify if any 5i stocks in your 3 portfolios are "zombies" as defined by the following quote from Cresat:

" Crescat calculates that about 80 percent of Canadian non-financial stocks have been cash-flow negative in the past 12 months, which he measures as cash flow from operations minus capital expenditures.

That may be inflated by the the large numbers of “zombie” companies on Canadian stock exchanges, which the Organisation for Economic Co-operation and Development defines as those 10 years and older and whose earnings aren’t high enough to cover interest payments on their debts. In a September study, Deloitte found 16 percent of public companies on the Toronto Stock Exchange and its sister Venture Exchange are considered zombies, compared with 10 percent globally.
Costa said even if he excludes energy and materials stocks, 70 percent of Canadian stocks have still lost money on a free cash-flow basis. If you consider only non-financial stocks with a market value of more than $100 million, the share is still more than 50 percent, he said."
Read Answer Asked by Steve on January 18, 2019
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