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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 5i,

Do you have any data on Aritzia such as EPS, yearly revenue, debt, cash on hand, etc. Since IPO's tend to be very volatile, which means they sometimes go from very expensive to ridiculously cheap. If it does become cheap due to plain old volatility and not because of deteriorating fundamentals, I just might be tempted to buy in!
Read Answer Asked by SHANE on October 07, 2016
Q: Do you consider the Mar 2027 bonds to be a decent hold within a diversified bond portfolio?
Read Answer Asked by Greg on October 07, 2016
Q: Hi Guys,
If I think the US PMI data may be peaking in the next few months and we could have a global slowdown for 2017 and looking for a few bearish bets, perhaps a few short trades as well. With China now depending on more exports as well as Japan and with a big chunk of those exports coming to the US we could have the 3 largest economies in the world slowing at the same time. This would weaken the demand for crude oil and I think it could revisit the $20's once again. I'm looking for companies that can quickly get in trouble once again if the economy begins to weaken, I'm thinking Teck and Baytex? Do you agree these names will drop in the above noted scenario ?Any other names you might suggest? Looking for weak balance sheets I suppose with too much debt. Thanks
Read Answer Asked by Chris on October 07, 2016
Q: I understand that these 4 stocks are considered growth stocks. Presently I am negative on all four. Is patience required ( long term ?) or would you suggest to switch to other growth stocks and which ones would you recommend. Thanks.
Klaus
Read Answer Asked by Klaus on October 06, 2016
Q: From Oct. 3 : Q: A headline article in Globe and mail " Why it feels like another financial crisis ----" gives a current p/e for the tsx of 23.6 Your macroeconomic report has it at 17. Is this a difference between trailing and forward earnings or am I missing something?/
5i Research Answer:
There is a difference between current and forward earnings multiples. For example, based on data from Thomson Reuters, the current P/E for the TSX is 17.2x and the forward P/E shows 16.7x. Some publishings do not distinguish between forward and current when reporting P/E so one may see differences from time to time. However, the P/E quoted by the Globe looks to be high regardless of the timing perspective. Different services also seem to use different sources of estimates; we do see 23X on some other services, but simply defaulted to Thomson here.

It seems to me that the difference between 17 and 23 is a significant distinction and would indicate the TSX is in overbought territory if the latter is true. A subsequent article in ROB on Oct 4 produced a chart (source Bloomberg) showing the PE ratio for the TSX "Composite" at 23.5 and the highest in 14 years with the widest gap with the US since 2009. Is it possible 5i Research data from Thomson Reuters is utilizing the smaller sample from the TSX "60" or another index to arrive at 17X?
How to know what the true number is for sure?
Read Answer Asked by Jeff on October 06, 2016
Q: Hello 5i,

I currently hold Genworth, and have held it for a few years. I am wondering if after the new mortgage rules announced today if it's worth holding. Considering that 50-55% of their current clientele would be not be eligible for mortgage insurance under the new rules, what adjustments can they do to maintain their current earnings level? Is the dividend safe considering these facts? Is it worth holding considering the constraints to future business under the new rules?

Thank you in advance
Read Answer Asked by Gerasimos on October 05, 2016
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