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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: Thanks for your report on AFN. I've been watching this stock for the past couple of weeks, and thinking of selling my ACQ to buy AFN, one of the reasons is the higher dividend, and the other is that I am down 20% on ACQ and thought AFN might have better short-term growth prospects. Both companies are coming out with earnings soon. What do you expect for earnings for both of these companies, and do you think this would be a reasonable switch. Thanks very much.
Read Answer Asked by Kim on July 20, 2015
Q: Hello Peter and 5iResearch Team, Can you please provide your analysis of IMAX vs Cineplex in terms of relative strength, and industry growth prospect. Can you please tell me which one you would purchase for a long-term 3-5 yr. hold. I can place IMAX in a RRSP and CGX in my TFSA. Would like to buy only one. Thank you. Linda
Read Answer Asked by Linda on July 20, 2015
Q: Hi 5i. In your opinion please: "When is the correct time to use a margin account (or any sort of leverage) for the average knowledgeable investor?" Also to what extent in the form of ratio to assets and/or income. I know this is dependent on individuals but your knowledge and experience are highly valued by me.
Thank you
Jeremy
Read Answer Asked by Jeremy on July 20, 2015
Q: I would like to have your thoughts on AJX.
The good : balance sheet (no debt and 10 million $ in cash : 15¢ per share), but 25 % in intangible assets and goodwill; the industry, gross margin, divested non-core businesses(usually at a profit; restructuring seemed finished), strong USD (lowers Canadian expenses), positive cash flow from operation for the past two years, not taxable for the next few years (unrecognized tax losses on the balance sheet), 31% insider ownership following the merger (including 15% by Investor Growth Capital, “IGC” an independent venture capital firm specializing in expansion stage investments),
The not so good: management turnover over the last few years, erratic sales growth to be kind, cannot seem to grow revenue to amortize fixed cost (merger should help), cannot seemed to capitalize on promising industry trends, goodwill write-off $40 M, micro-capitalization, stock liquidity,
The unkown: merger (60% vs 40%) with a private entity (Novariant: $30 M in sales) that's taking awhile to get done (announced mid-March 2015), they changed auditors (KPMG to) mid-April and the CFO leaves mid-may.
This investment represents 1% of my portfolio, I am trying clean my portfolio. My decision (of selling) is almost made (do not want this type of investment in my portfolio in the future: 5i provides better risk/return recommendation), I am trying to minimize loss here. I think there is some upside at this level/time Your recommendation: wait to see some quarterly results of the merged company before making my mind (my guess is: it's going to take several quarters of good results before the market jumps in following years of disappointment)? Sell on some technical strength? Sell immediately (not seem warranted as the stock is down recently following a major selling by an important shareholder for reasons not related to AJX)?
Thank you, Eric
Read Answer Asked by Eric on July 20, 2015
Q: I think on June 17 you mentioned tpk as cheap at 12X earnings. I seem to see fy2014 earnings .45/share and q12015 .11/share This is more like P/E 20. Am I missing something??
Thanks Jim
Read Answer Asked by jim on July 20, 2015
Q: Hello All,
The silence is deafening. Since Lehman Bros., Central Banks have been in lock step in printing money and keeping interest rates artificially low. Both inflationary. Commodity prices have plunged. World economies have been relatively healthy.
The stock markets and real estate have performed. WHY THE DOLDRUMS IN COMMODITIES? No one seems to be discussing the implication of such huge worldwide debt and how we work ourselves back to normality. Such silence! Your thoughts, please.
L
Thank you,
L
Read Answer Asked by Lloyd on July 20, 2015
Q: Please provide your analysis on TELUS' stock in the next 6 months, what are the key risks and opportunities ahead for this business?

-Should we expect growth within core services of wireline, wireless?
-Given CRTC's ruling for pick and pay TV packages and also the change to 2 year cell phone contracts (exit contract free of charge after two years - what is the impact of these regulation changes on TELUS?
-What is the impact of losing the acquisition battle with Rogers on acquiring Mobilicity? Does this immediately impact TELUS' stock price?


Read Answer Asked by Michael on July 20, 2015
Q: IMAX: recomm. as a growth stock to-day. It looks hugely over valued, high debt., low ROE, no dividend, down because IPO in China has been postponed.
Read Answer Asked by James on July 17, 2015
Q: Which company represents better valuation for a long term hold? What are the pros and cons of these two for income purposes?
Read Answer Asked by Liza on July 17, 2015
Q: Full disclosure, I sold all my INP when I learned Saskatchewan was dry and the canola price was rising. All commentators say yeah good buy. I questioned, I maybe wrong as I often am,- but I try to take cover if I am not sure, if there is a light crop INP may have to take it's share of the crop in 2017 as it had to take last year's share this year. The reason the canola price goes up is lack of crop - Input does not get paid till it sells is oil seed.
Read Answer Asked by Lynda on July 17, 2015
Q: We are retired seniors. We have five different accounts: two RRIFs, two TFSAs, and a joint regular non-registered account. What would be a recommended number of different company shares to hold in any one of these accounts? And, if the same company shares are owned in two or more accounts, would that count as two, or one, company share(s)?
Read Answer Asked by Hanna on July 17, 2015
Q: Hi Team,

Can you please tell us more about who David is from your latest blog post:

Digging Through Greece for Value Opportunities
By David

Tx. Michael
Read Answer Asked by Michael on July 16, 2015
Q: I would appreciate your comments on GCL's results announced this morning.
Thanks!
Read Answer Asked by Gregory on July 16, 2015
Q: Nice dividend, price had plateaued a bit but doing well this month. Any thoughts on this company going ahead?

Thanks

Gary
Read Answer Asked by Gary on July 16, 2015
Q: I go south in the winter and purchase us dollars through out the year.This year I need to convert some more money and with the sinking of our dollar.I thought of buying tucows on the US side and hopefully gain on the stock and the difference in the dollar.I know I am a bit late but the lonnie may fall further. Your thoughts please
Read Answer Asked by robert on July 16, 2015
Q: Hello Peter
Please comment on the lower canadian dollar and the rise of the US dollars , which 2-3 stocks you think would benefit going forward that i can add to my portfilio .
I understand that it is hard to recommend not knowing my current stock holding .

Thanks for daily comment from other subscriber questions.
Claudio
Read Answer Asked by claudio on July 16, 2015
Q: Good afternoon, I would appreciate your comments on our exposure to reits and utilities/infrastructure holdings in view of today's bank rate cut and the anticipated opposite U.S. rate increases. I am 71 and we rely on our investments for almost half our income. Currently fixed income + cash represents 44% of our investments while reits and utilities each 5%. I note in the Model portfolio utilities is 2.3% with no reits and the income portfolio 15% utilities & 6.5% reits.
It seems to me that the canadian bank rate will go up eventually but I've been wrong for years.
Currently our utilities/infrastructure holdings are BIP.UN, PPL, VSN, VNR, BEP.UN & CPX. Which would you recommend trimming, if at all.
You're general comments on our current allocation would also be welcome.
Thanks as always!
Read Answer Asked by Cyril on July 16, 2015
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