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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: Hi guys

Thanks for all you great information.
I have held both Morguard Corp (both MRC and MRG.UN) and Mainstreet Equity for quite a time period and done quite well in both, more than doubling my initial investment.
All these stocks have always traded at substantial discounts to net asset value, which has given me downside risk protection, and at one time I thought they might trade closer to NAV. In the past year I have heard from multiple BNN guests that Rai Sahi who runs Morguard, and apparently owns more than 50% of Morguard, could pay much more attention to delivering shareholder value, including moving the share price closer to NAV. So my question is, looking 5 years out, which company, MRC or MEQ, do you feel: 1) has better MGMT, 2) is in the better real estate sector to deliver value and 3) is most likely to see the share price come closer to NAV. A last question would be do you think either company is likely to receive an offer and be taken over by another REIT or pension fund, and if so would it be at NAV or above?

Thanks in advance

Stuart
Read Answer Asked by Stuart on January 22, 2020
Q: Hello, I'd like to know what you think of Roxgold and Semafo. Their latest press releases seem promising but on the other hand, the fact that their activities are concentrated in Burkina Faso may add a considerable risk. Is the business risk already included in the share price? With the rise in gold prices, this could be an interesting investment opportunity. If you had to choose between the two, which one would you take with the assumption that the risk is not considered too high. Thanks a lot.
Read Answer Asked by Stéphane on January 22, 2020
Q: Hi 5i,
I am just going to ask about your new U.S. disclosure policy when Sal asked first. So, I would just comment I have absolutely zero concerns about your staff’s potential investments in U.S. stocks and the integrity of your advice. The U.S. names are typically so big and liquid that 5i’s endorsement or not, in all due respect, would have absolutely no influence on the price movement of AAPL, AMZN, GOOG, ROKU or others. So, keep up the great work and the presence of these disclaimers, or not, on the U.S. names cause me absolutely no concerns.
Thanks again for your sage advice.
Dave
Read Answer Asked by Dave on January 22, 2020
Q: hi, with respect to new BYD ticker not being updated on some portfolio tracker financial sites, I think the issue lies with the financial site's delay in adding/updating the new symbol. I use Globe Investor, where new ticker was available after 1-2 days. But,I had to record a sale of all BYD.un units and a new purchase of BYD shares, after 2 days when ticker was available. The security/ticker and holding is not replaced/updated, automatically. Hope it helps. Thanks
Read Answer Asked by rajeev on January 22, 2020
Q: Hi guys I know you are probably a bit sick of answering questions about Sylogist but just trying to get my head around how they operate. During the last year the company stated "the Company repurchased a total of 191,900 common shares at an average price of $12.81 for a total cost of $2.5 million." So with no debt and 53 million of cash on hand why wouldn't Mgmt. buy the bulk of the shares that are now being offered up at below $9 a share. IN other words if the shares had value at $12.81 wouldn't the shares be even a more prudent purchase now? Also I show a Return on Equity of above 30% yet the shares are trading for what they were 5 years ago. How does one square that? Has the P/E multiple come down that much, and if so why?

One strange idea that runs through my head is this company does so little to support the share price (e.g. also no press releases) maybe this is intentional so that Mgmt. is buying up shares at these much lower values?

Much thanks to any insights you may to give.
Stuart
Read Answer Asked by Stuart on January 22, 2020
Q: Hi 5i, We hold 6% of our portfolio in this fund which has done OK and provides nice monthly income. It's our last remaining mutual fund. Any suggestions on how I could replace it with similar ETF(s) and still achieve a decent yield and some growth. Monthly distributions are not necessary. Thanks for your help.
Read Answer Asked by Martha on January 22, 2020
Q: I noticed in one of the questions asked yesterday there was the following disclosure: Authors of this answer have a financial or other interest in AAPL, AMZN, GOOG at the time of answering this question. This seems new any reasons to start including it?

Also as you give us great quality names such as SHOP which is up over 1700% since it is inter listed can you by the US listed shares ? Or is the team not allowed to buy inter-listed companies?
Read Answer Asked by Sal on January 22, 2020
Q: I currently have AQN (2.5%), BEP (1.5%) and INE (1%) and would like to add a further 1.5% overall to the "green" utility sector of my portfolio. Do you feel that BLX would be a good addition?
If so, I am thinking of adding .5% to BEP (to bring it to 2%) and 1% to BLX and wanted to get your thoughts for a +/-5 year hold.
Thanks!
Read Answer Asked by Brian on January 22, 2020
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