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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: In a broadly diversified portfolio, for a risk tolerant investor, how would you rate these stocks on a 1 - 10 scale, with a "10" meaning for sure you want this stock in your portfolio, and a "1" being you absolutely do not want this stock in your portfolio. Long term time horizon, looking for growth. AT, CTS, DCBO, DOC, DND, NVEI, TIXT, WELL, WISH.
Read Answer Asked by Dan on March 11, 2021
Q: I believe both companies, Europe technologies and Rubicon are on the cve. I'd like to know what your take is on both companies. Do you know what their latest results were and what the outlook for both stocks is. Is there anything special I should know in regards to their business and competition. Thanks

Read Answer Asked by steven on March 11, 2021
Q: The majority of our utility holdings are in FTS /AQN, and when looking at value metrics: EV/Rev, p/b, forward p/e and yield, these 2 stocks appear to rank highest of the stocks listed above. NPI seems to be 3rd best in value, but it does have a higher p/b ratio. We also hold the following utilities in decreasing weight: BEP.UN, NPI and INE. We need to trim SU/ENB and want to add more to some or all of the latter 3 utilities - would you add the most to BEP.UN then NPI or focus on just BEP.UN? INE appears to be a bit over-valued at this time. Should we continue to hold INE, sell or add on more significant dip? We income/growth investors with 10+ year time horizon.
Thanks!!
Read Answer Asked by Grant on March 11, 2021
Q: Hello,

The financial sector are at 52 week highs, do you see an issue with stepping in at these prices ? Would you consider one of the major banks and perhaps GSY as an alternate to the big banks with exposure to the financial sector ?

Thanks,
Robbie
Read Answer Asked by Robbie on March 11, 2021
Q: HI
I am looking at cleaning up my portfolio and removing stocks that have not performed as expected . What is your take on the five stocks listed . Should I have a longer view on these stocks

Thank you

Howard
Read Answer Asked by Howard on March 11, 2021
Q: Could you comment on the announcement today from Artis. Why move to a publicly tradable private equity? Who benefits from this? Presumably it would still be on the TSX? I also wonder why they would sell off what seems to be the best portion of their portfolio? I hold a small position in Artis, but with significant capital gains (which I prefer not to realize right now). What is your view of Artis going forward - hold or sell?
Thank-you
Read Answer Asked by grant on March 11, 2021
Q: Like others I have been struggling with what is the real book cost I should use for the Topicus (TOI) shares I received as a spin-out from CSU.

My broker (RBC Direct Investing) shows it as 0.0001/share. Based on what I read here I tried to convince RBC to adjust it to $63.30 (Feb 2nd closing price) as suggested by Peter. RBC would not change it unless I fill out a form and provide proof that it should be $63.30.

So tonight I emailed Constellation Software this question. Within 30 minutes (at 8pm) I received a response from Jamal Baksh (CFO at CSU). He said:

“It is our assertion that the value of the business has been ascribed to the preferred shares and hence the value ascribed to the subordinated voting shares (“SVS”) is nominal (close to zero). The future growth of the business will result in the appreciation of the SVS. As described in the prospectus the preferred shares will get converted to SVS at which time the SVS will reflect the full value of the business.

I’ve attached a copy of the bulletin from CDS which shows the cost at C$0.00015641/share.

Note that you are better off from a tax perspective having a nominal dividend and a larger capital gain.”

The attachment he sent says this:
“06JAN2021

UPDATE: FAIR MARKET VALUE

CDS has been advised by the agent of an update to the FMV per subordinate voting share as follows:

CAD 0.00015641 based on 0.0001 EUR converted to CAD at 1.5641

CDS will credit participants with the shares upon receipt from the agent.”

I do have the subordinate voting shares (SVS) of TOI. So I guess I really have a 69 million % unrealized capital gain on these shares. Looks great on paper.

Paul
Read Answer Asked by Paul on March 11, 2021
Q: Hi 5i team,
This is not a question. Regarding the book value of TOI , it's best to confirm with CSU. Apparently, the book value for the stock distribution is indeed close to zero per CSU client relation.
Read Answer Asked by Willie on March 10, 2021
Q: Further to my earlier question about ZST and HFR, I don't think you have addressed the issue. The l0yr average total return for HFR is practically 25% more than for that for ZST. (as per your references). They are both ultra-short bond funds but their behaviour is vastly different. Why?
Read Answer Asked by richard on March 10, 2021
Q: Hello 5i team,
Before a change in a weather system strong winds pick up with extremes of air pressure close together, then a calm before the storm hits. Over the years it was a big deal to see a holding jump 50 cents either way. NOW, we see the likes of not only growth stocks such as GWG and LSPD moving $5 and $6 at day but also ETF's such as IWO and VGT. Some "staid" stocks such as MSFT also move a chunck at a time. Are these moves indicative of a major change coming or is it smart money rotating or dumb money jumping on the bandwagon? Or is it anybody's guess? Should I be worried but stick to the plan?
Stanley
Read Answer Asked by STANLEY on March 10, 2021
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