Investment Q&A

Q: Hi 5i! Regarding Callidus (CBL), can you comment on the implications of their ongoing share repurchases given the recent share price decline and the relatively tight float? With their FY 2016 Report, CBL indicated “49,916,781 common shares comprising Callidus' total issued and outstanding.” At the same time, they announced an NCIB allowing repurchase of up to 5 percent of that total (i.e. 2,495,839 of its common shares). In the Q2 2017 Report CBL indicated that approximately 1.26M shares had been repurchased under the 2017 NCIB through August 9. All repurchased shares are being cancelled. My online broker’s site currently indicates the number of floating shares at 9.11M. With such a small percentage of issued and outstanding shares floating, a full repurchase under the NCIB would appear to reduce the float by approximately 25 percent. Is it safe to assume that only floating shares are being taken up under the NCIB? As the share float dwindles, does an ultimate privatization become all the more likely? Are there any specific advantages or dangers associated with the shrinking number of floating shares, particularly in connection with a potential privatization and as far as retail shareholders may be concerned? Thanks for any insights!

Q: Is there any specific reason for the further 7% drop in the stock price of Callidus today? Thanks.

Q: Any thoughts on the recent results from Equitable Group? Despite what initially appear to be strong earnings reported Thursday p.m., the stock was down significantly in Friday trading. Thank-you.

Q: Please give me your updated opinion on Keycorp vs the larger US banks. I appreciate your help.

Q: Does your opinion of cbl change at all after their 2nd q results release? I have about a 2% weighting (as of today) in an rrsp acct, down about 30%. I'm think of selling considering all the quality stocks with far fewer "issues" that are on sale right that I could replace it with. After watching what happened to efn after a rumor and no short interest, it has not recovered at all from it's significant drop so I can't see anything, other than a prompt privatization of cbl, that will turn it around. I don't think this q results will help at all either.

on a side note I think it could be a wise move to basically sell all stocks just before earning seasons and wait for the dust to settle before buying back. all stocks that miss, a lot that meet, and even some that beat get clobbered with very few that make a good run after a beat, dr is a case in point here which I hold. even with trading fees (about $5/trade) this seems like a very profitable possible strategy. I know it's not your style to trade like this but with the markets being as reactionary as they are with the hedge funds and day traders so active a swing of 10% plus swings could be very profitable and more than offset the very few that seem to move up on earnings.

thanks Tom

Q: I have to cut either SLF or PWF for financial services sector re-balancing. Both are currently of equal value weighting. Based on possible interest rates rises, current financials, dividends, stability, etc. Which one would you cut?

Q: Good morning gentlemen,
What are your thoughts on the earnings? Does the stock still merit a hold? I get the feeling that the allegations are a little simplistic for a company and a man who seem to be as thorough as they come?
Thx for your thoughts

Q: now that earnings were announced would you buy this stock or stay away.dave

Q:



please comment on these as a while ago when split you preferred ECN following the split. Is this still so - please clarify and evaluate looking ahead



e

Q: Hi,

Could you comment on the latest quarter?

Thanks

Q: Good morning,

Would this pull back be a good time to pick away at Canadian banks particularly TD and BNS.

Thanks Carl

Q: If the results are in-line with expectations, why is it down almost 10%? Has it something to do with their write-down of 19th Capital? If so, given EFN still has $50 million equity in 19th Capital, are further write-downs likely? Thanks.

Q: Would you hold or sell here? What do u think of the company's response?

Q: What is you opinion on this company now?
Thanks

Q: Could you comment on CIX'S acquisition of Sentry investments ?

Q: How does this class action lawsuit work for investors who bought or owned this stock between Nov 15/14 and July 10/15. If i owned and bought this stock during this period, am i entitled to be involved in this settlement, and what do i have to do? These dates were on the Siskins law firm website.

Q: i currently have almost $20000 in U.S. cash in my porfolio.
am looking to invest in the U.S. Banks.
would i be better off in investing in a U.S. bank etf or would i benefit more by transferring my U.S. funds to Canadian dollars and using either ZBK or ZUB??
or would you suggest a U.S. Regional bank etf?
these funds are not in a RRIF or other registered retirement account.
ed in Montreal

Q: any reason why the stock drop so much in the final hour

Q: With the latest news about CBL and the big drop in stock price, what do you suggest a shareholder do (if anything)? Can this company be trusted? They report earnings Thursday after the close but can we believe what they say? I stayed "patient" with DH, Concordia, and HCG only to add to the initial losses. Do you think they can recover from this even if it is shown that no fraud has occurred? As usual, your thoughts please.
Thank you

Q: Any idea what's going on with Callidus Capital ?