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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: Brookfield has a number of listed equities(dividends in brackets): BAM(1.23) BOX.UN (4.4), BIP.UN(4.4),BPY.UN(4.1), BEP.UN(4.7). What is the relationship between the income/unit trusts and the 'mother' company? This group seems to provide a diversified range of options: office properties, infrastructure, property,renewable energy- What are your thoughts on this group? (or other family related listings?)Why is BAM dividend out of line with the others?
Read Answer Asked by Richard on January 08, 2015
Q: Do you know what percentage of Wajax's revenues is from the oil and gas sector? And how do you feel about it now that it is at an all time low? Thanks, as always.
Read Answer Asked by Alex on January 08, 2015
Q: Hello Everyone at 5i,

I am rebalancing my portforlio little by little and I'm looking at sector weightings.
Could you please check my notes on % holdings by sector, and let me know if you would make any changes to these numbers based on the markets today and in the near future, please.

In general I am a long term investor and can tolerate some loss/risk, and I frequently check market performance and make adjustments here and there.

Financials 15%
Energy 15%
Materials 5%
Health 5%
Tech 15%
Utilities 10%
Consumer Discretionary 10%
Consumer Staples 5%
Industrials 10%
Telecoms 10%

I have put Mg in Consumer Discretionary, and with a very good run, that sector has ballooned to 26%. I'd like to let Mg run. What is your opinion?

Your advice and opinions are extremely valuable to me. Thank you.

Gail
Read Answer Asked by Gail on January 08, 2015
Q: What are your thoughts on this company? I have a small speculative position in a USD SDRSP account. Any better alternatives in the same space?
Thanks for all your help.
Read Answer Asked by Gregory on January 08, 2015
Q: What do you make of Cipher's recent aquisition of Canadian commercialization rights of Ozenoxacin for treatment of impetigo? Is it normal to buy the licensing rights to a drug that is still in clinical trials? Assuming the drug works and goes through regulatory hurtles, is the market big enough in Canada to have a material impact on earnings or is this just another secondary product? My worry is that Cipher is too reliant on its leading acne drug, but I guess this is a step in the right direction. Thanks.
Read Answer Asked by Scott on January 07, 2015
Q: Hi 5i:

If you just received a fragment of this question, please ignore - finger problems.
My portfolio is reasonably well balanced, but I do have a collection of more speculative stocks that have small portfolio weights. I am planning to add to some of these and would appreciate your rankings of: CRH, CXI, TV, GUD, QST, DCI, INP. Many thanks.
Read Answer Asked by Roland on January 07, 2015
Q: I am confused, are they paying an annual declared dividend or are they paying an annual special dividend- depending on how the year has unfolded. And what is your thoughts on the companies prospects going forward.
Read Answer Asked by Warren on January 07, 2015
Q: I have been researching Ridley, and have noticed that they seem to have paid generous dividends (all by way of special dividends, annually) all (well, three years, anyway) in excess of per-share net income and very close to or sometimes exceeding per-share cash flow.
That doesn't appear to be sustainable -- or what am I missing or misinterpreting?
Have the last three years merely been a "catch-up" to investors for prior years without dividends?
I understand that dividends under a policy such as theirs (i.e. special dividends) is less certain than a regular quarterly or monthly stream, but how much comfort level can we take on future dividends from RCL?

Thanks for doing your part in distinguishing investors in quality companies from "investors" in the market!
Read Answer Asked by Lotar on January 07, 2015
Q: Happy New Year to all! I am looking for the top 5 canadian corps that have at least 60% of their business in the US and would appreciate your picks. Thanks for all your excellent work this past year
Read Answer Asked by diane joan on January 06, 2015
Q: Peter - you have in the past written about the power of 10-baggers. I think I remember a piece when you were at Sprott where you astutely pointed out that a couple of investments could be wiped out, provided a portfolio contained a couple of huge winners. I wonder if you might offer your five most likely 10-baggers in the next 1-2 years, knowing full well that such wins are always elusive.
Read Answer Asked by CAMERON on January 06, 2015
Q: Can you recommend some funds that are CDN dollar and overweight in CDN industrial companies? I would like to take into account the growing US economy and the declining CDN dollar, allowing CDN manufacturers to prosper.
Read Answer Asked by Dave on January 05, 2015
Q: I own Norbord (NBD) at a much higher cost. I sold Ainsworth (ANS) and bought Western Forest Products (WEF) a few months ago. Should I sell Norbord and buy more Western Forest or another forestry and wood products company. My only holdings in this sector are NBD and WEF.

Happy New Year, all the best in 2015. Thanks for the wonderful service you provide.
Read Answer Asked by Larry M. on January 05, 2015
Q: Hello.

What would be the impact to Russel Metals if they experienced a decrease in demand for their Energy Products sector? Do you think management would 'adjust' well? Do you see this as a real risk?

Looking at their annual reports & their 3 main segments from 2005 to 2014, revenue has declined from Metals Service and Steel Distributions, while revenue from Energy Products has increased steadily from 23% of revenue in 2005 to 46% in 2014 (Q1-Q3).

Regards, David
Read Answer Asked by Robert on January 04, 2015
Q: In your company reports, in the company report card summary you quote a value for 5 YR ROE. Please clarify if this is the average yearly ROE calculated over a 5 yr. period. If indeed this is an average I would suggest you add additional info as a single average number is next to useless. Ideally, the latest individual values for the past 5 years should be stated or, less at least the average with the min and max value.
Happy New Year to all,
Steve

Read Answer Asked by Steve on January 04, 2015
Q: Would you please provide an updated opinion on MM? In Oct. 2013 you expressed serious reservations concerning MM - has your view changed? Thanks!
Read Answer Asked by Gregory on January 03, 2015
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