Investment Q&A

• Brookfield Renewable Partners L.P. (BEP.UN $40.15)
  • $40.15 Cap: $25.90B
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• Brookfield Property Partners L.P. (BPY.UN $23.29)
  • $23.29 Cap: $21.72B
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• BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE $20.81)
  • $20.81 P/E (TTM): 49.74X Cap: $718M
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• BMO US High Dividend Covered Call ETF (ZWH $25.04)
  • $25.04 P/E (TTM): 19.44X Cap: $1.07B
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• BMO US Put Write ETF (ZPW $16.00)
  • $16.00 P/E (TTM): 30.29X Cap: $81M
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• iShares S&P/TSX Capped REIT Index ETF (XRE $15.97)
  • $15.97 P/E (TTM): 16.98X Cap: $1.12B
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Q: I currently hold BPY (up 50% over cost) and H&R in my portfolio 4% and 3% respectively.
I am considering swapping BPY for BEP for the additional income. Your thoughts?

I also plan to crystallize my capital losses and purchase the following ETFs:
Non registered:
ZPW – US Put Write
ZWE – Europe Covered Call hedged to CAD.
ZWH – US covered call
CPD – CAD preferred
XRE – Capped REIT

Registered (RRIF):
PGX:US – Preferred.

Each would constitute 2% - 3% of my portfolio. Diversification is my intention, but risk and surety of income is the primary consideration in all of the above noted.

Again, your thoughts.

Thank you for considering my questions

Gail

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Read Answer Asked by Gail on August 02, 2016

• Collegium Pharmaceutical Inc. (COLL $32.75)
  • $32.75 P/E (TTM): 31.29X Cap: $1.03B
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Q: Can you please comment on Collegium Pharmaceutical (NASDAQ:COLL). I know you do not cover use stocks but I would appreciate any input you may have. The stock is down 50% ytd and reports earnings in the next 2 weeks.

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Read Answer Asked by Bill on August 02, 2016

• Lear Corporation (LEA $99.59)
  • $99.59 P/E (TTM): 11.61X Cap: $5.31B
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Q: Hi Peter
Would you please comments on lear corp. results , the stock has dropped quite a bit in its results Today, is it a sell or hold? thanks

selina

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Read Answer Asked by selina on August 02, 2016

• Bank of America Corporation (BAC $51.97)
  • $51.97 P/E (TTM): 14.69X Cap: $387.23B
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• Citigroup Inc. (C $97.83)
  • $97.83 P/E (TTM): 14.77X Cap: $183.68B
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• BMO Equal Weight US Banks Index ETF (ZBK $38.45)
  • $38.45 P/E (TTM): 12.42X Cap: $665M
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Q: I am thinking of adding US financial services to my diversified rsp portfolio. I am ideally looking for a CDN dollar etf that invests in/takes advantage of value priced US financials at close to book. Bank of America, Citigroup are examples. Time frame is 7 to 10 years. Thanks as always

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Read Answer Asked by Harry on August 02, 2016

• iShares MSCI USA Min Vol Factor ETF (USMV $93.87)
  • $93.87 P/E (TTM): 24.84X Cap: $23.08B
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Q: Hello Gentlemen

Rather than keeping up with so many individual companies in the US I am considering the ETF USMV. Do you think this is a suitable choice for a conservative investor?

Other options you would suggest are, of course, welcome.

Thanks.

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Read Answer Asked by Peter on August 02, 2016

• WisdomTree Japan Hedged Equity Fund (DXJ $130.76)
  • $130.76 P/E (TTM): 21.02X Cap: $4.03B
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Q: I have very little in the way of investments outside Canada except for TD's US exposure, ATD.B's exposure in Europe & the US & TIO 's US exposure.Which of the following ETFs would you consider to be good ones to expand my exposure outside Canada & if you don't like any of them can you suggest some alternatives you like better? The ETFs are:ASHR , DXJ ,LEMB

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Read Answer Asked by Dave on August 02, 2016

• Phillips 66 (PSX $129.45)
  • $129.45 P/E (TTM): 31.08X Cap: $52.36B
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Q: PHILLIPS 66 (PSX:NYSE)... I am looking for a combination of refiners for a pullback. The movement in the oil/gasoline is indicating that prices will retract again from current levels. I would like your thoughts on Phillips 66 and one other to hold for the next 12-18 moths. Consensus is looking at mid 2017 before the market really starts to get a hold of the supply side. Do you see this company able to grow revenues and possibly increase profitability?

Thank you
Jason N.

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Read Answer Asked by JASON on August 02, 2016

• Barclays Bank PLC ZC SP ETN REDEEM 23/01/2048 USD 27.193879 - Ser A ShortTerm Futu (VXX $37.25)
  • $37.25 Cap: $1.05B
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Q: What is your opinion on using call options on the VIX Short Term Futures ETN (VXX:US) as a hedge against a market decline? I see the VIX index up over 7% today, but the VXX is down slightly. I have noticed this several times. What is the explanation for this divergence and how should it be interpreted?

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Read Answer Asked by ROB on August 02, 2016

• Joy Global Inc. (JOY $28.30)
  • $28.30 Cap: $2.81B
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Q: Is there much risk to buy here, as it is selling to Komatsu for higher?

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Read Answer Asked by George on August 02, 2016

• Triumph Group Inc. (TGI)
  • P/E (TTM): 56.69X Cap: $2.02B
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Q: I know the US is not your focus, but were TGI's numbers that bad?

Thanks.

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Read Answer Asked by Gregory on July 29, 2016

• Stryker Corporation (SYK $368.61)
  • $368.61 P/E (TTM): 49.01X Cap: $141.35B
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Q: Hi everyone. I hope you are staying cool. Stryker has had a dip of 4% or so because it missed Q3 analyst estimates. But today it added to the dividend. Is there anything more to be concerned about? Or just ride it out for awhile. much thanks as always...

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Read Answer Asked by El-ann on July 28, 2016

• Virtu Financial Inc. Class A (VIRT $33.50)
  • $33.50 P/E (TTM): 7.6X Cap: $5.07B
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Q: I know you do not follow this company in depth but I was hoping you might do some digging. I have held this company for a while trading around it. Do you see any issues with growth or profit. Recent announcements seem to be positive going forward. I am looking to reload at current levels as winter months seem to be the time to lighten up.

Virtu Financial Inc.. symbol VIRT

Thank you again

Jason N

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Read Answer Asked by JASON on July 28, 2016

• Air Methods Corporation (AIRM $42.95)
  • $42.95 Cap: $1.56B
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Q: Air Methods / Nasdag
Does the recent pullback for this stock appear to be a good entry level in your eyes ?

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Read Answer Asked by darcy on July 28, 2016

• Verizon Communications Inc. (VZ $40.47)
  • $40.47 P/E (TTM): 9.45X Cap: $170.25B
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Q: Your thoughts on Verizon would be appreciated.
Thanks so much.

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Read Answer Asked by Anne on July 27, 2016

• Apple Inc. (AAPL $247.90)
  • $247.90 P/E (TTM): 37.6X Cap: $3.70T
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• Alphabet Inc. (GOOG $254.65)
  • $254.65 P/E (TTM): 26.25X Cap: $3.03T
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Q: I feel as if I have owned Apple forever! I am now down 20% on the stock and just about ready to throw in the towel. Can you suggest a replacement in the same space with more growth potential? SIMO perhaps, which you have recommended before?

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Read Answer Asked by Michael on July 26, 2016

• Gilead Sciences Inc. (GILD $119.25)
  • $119.25 P/E (TTM): 23.55X Cap: $146.78B
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Q: Where Gilead's earnings bad enough to justify the drubbing they are Taking? Hold on to shares at this point or has something fundamentally changed?

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Read Answer Asked by Kel on July 26, 2016

• Dr. Reddy's Laboratories Ltd (RDY $14.26)
  • $14.26 P/E (TTM): 18.3X Cap: $11.74B
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Q: Why is RDY down more than 10%. Any news?

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Read Answer Asked by satish on July 26, 2016

• American Water Works Company Inc. (AWK $142.88)
  • $142.88 P/E (TTM): 25.51X Cap: $27.80B
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Q: Hello,

What are your thoughts about AWK stock? I have read numerous investing articles illustrating the water will be the new "oil" in 20-30 years. Is it a good time to start investing in this sector?

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Read Answer Asked by troy on July 26, 2016

• 3M Company (MMM $151.61)
  • $151.61 P/E (TTM): 21.21X Cap: $81.74B
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Q: Your thoughts on 3M would be appreciated.
Thanks so much.

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Read Answer Asked by Anne on July 26, 2016

• Cohen & Steers REIT and Preferred and Income Fund Inc. (RNP $21.70)
  • $21.70 P/E (TTM): 30.05X Cap: $1.04B
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Q: The distribution yield is ~7 to 8% and the SEC yield at the end of March was 3.9%. The SEC yield is supposed to reflect current performance and yet the distribution appears not to have changed for a while. Since C&S publish the SEC yield I assume this to be the more accurate representation of "real" current yield and the difference is made up from ROC. At 85% fixed rate and 15% variable rate what do you think of its prospects? - I am happy with the real estate basis.
Thanks

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Read Answer Asked by David on July 26, 2016