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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: Good Afternoon Peter and Team,
I just purchased a part position in Fiera Capital (FSZ- TSX). I noticed that both JC Clark and Goodman and Company own big stakes. More importantly 5i's B+ rating and National Bank's 35 % stake gives me great comfort. My question is- What would National Bank have to pay today in order to purchase the 65% of FSZ shares that it does not already own ??? Because Fiera is growing so quickly I find it difficult to value the company. (probably pretty easy for you) I just hate paying too much for a stock.
Thank you, DL
Read Answer Asked by Dennis on July 23, 2013
Q: Guardian Capital's stock action seems to be reflecting new 52 week highs for its BMO holdings as well as its wealth management business seems to be hitting on all cylinders.I would appreciate your thoughts on this deep value stock.

Regards
Bob
Read Answer Asked by Robert on July 23, 2013
Q: When I last wrote to you in June we were overweight in Financials, were considering selling but didn't because it felt too much like selling into a panic. Our 2 smallest positions then (and now) are RBC & BMO - both in my opinion now showing positive momentum. Do you believe this is genuine positive momentum or just "irrational exhuberance" courtesy of the central bankers affirming interest rates won't be going up any time soon? A reviving economy should be good news for the banks as there should be more loan demand. My take on positive momentum is to hang-in-there. If we did sell we would likely buy JNJ, Artis or a IShares Hong Kong index EWH (NYSE). Parkland is of interest too.

For me diversification is more tricky than stock picking. We have 28 separate positions which I am trying to bring down to 25.

If you want to improve your web site I would suggest adding spell check!

Thanks in advance for your counsel.
Read Answer Asked by James on July 20, 2013
Q: At its current price is it still a good entry point for Fiera Capital, FSZ(TSX) Thanks.
Read Answer Asked by Gerry on July 19, 2013
Q: Hi Peter and others,

I am thinking of adding some banks to my portfolio. Do you see an advantage (and would advise) a fund approach (example: the BMO offering of ZEB-T (equal weight Canadian Banks) vs. a purchase of the same amount divided up at 20% each of the 5 major banks. I am looking for both income and growth (a greed thing I guess - tee hee).

Thanks for your answer and thanks for the great "and especially unbiased" service
Read Answer Asked by Jim on July 18, 2013
Q: Peter,

What are your thoughts on AHF's acquisition of 80% of CC&L's closed-end fund business and financing?

Thanks,
Zach
Read Answer Asked by Zach on July 16, 2013
Q: Peter,

What is view regarding on Life Insurers in Canada and the US at the moment, given the run up is it still a good time to invest
Read Answer Asked by Karl on July 15, 2013
Q: ZWB versus Bank of Nova Scotia for my Dad, my kids RESP or myself. The banking portion of a
healthy 90 year old's well balanced successful portfolio, wouldn't mind some cash flow and to maintain initial investment. Well balanced RESP, 1/2 is laddered bonds, will need the funds in 2-7 years, have 12.5% in ZWB, should it change to BNS? For myself, 15 years before I need cash, well balanced portfolio - ZWB vs BNS?
Read Answer Asked by William on July 15, 2013
Q: MKTX - Q Market Access. Could I please have your opinion on the upside potential and as a possible take out candidate.

Thank you.
Read Answer Asked by Donald on July 15, 2013
Q: Hi guys. I've been looking at Equitable Group (ETC). 2014 estimated earnings is $6.07 giving it a forward p/e of 6.09. 2013 estimated earnings is $5.49 giving it a p/e of 6.75.

Any idea what the historical p/e norm is for companies like ETC? Seems dirt cheap but with a div of less than 2% I'm guessing it can remain dirt cheap for long periods of time.
Read Answer Asked by john on July 12, 2013
Q: New Offering: Pacific and Western Bank of Canada

Do you have any opinion on this one?

Thank you.
N
Read Answer Asked by Norman on July 10, 2013
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