Investment Q&A

Q: Hi, Shopify rally, this year has been remarkable this year, and stock continues to have a strong momentum, despite recent downgrades from many US brokerages. Canadian analyst community, though, continue to have a more positive bias.

Stock is up almost 200% from its October 2022 lows. Do you think, it's mostly short covering or company has strong fundamentals for the stock to regain its highs of $200, in due course ?

Why, in your view, are so many US analysts, lukewarm on Shopify ?

Thank You

Q: Hi 5i Team - In an answer to a question on Sept. 27 you mentioned that Neighbourly had a growing balance sheet, good forward sales and earnings and solid fundamentals with a cautionary note that it was not yet profitable and needed to become so. At that time it traded around $12.50. It seemed to have a lot of potential back then before the offer. If the offer falls through completely and it returned to around that price level would it not still have good potential and be worth buying for a mid to long term hold. Would the same theory hold for today's price of around $15. Also what is your opinion of management. Thanks.

Q: Are u are still positive on this company - it’s not participating in the rally and going the other way. At what point do you cut bait ?

Q: Docebo is exercising a share buyback offer to shareholders of U$55 a share plus a Deemed Dividend of approx. C$10.60. It finished trading today at C$69.28. Do you believe that if I hold the shares for 2 more years, the SP will exceed that offer?

Carl

Q: Persistence Capital Partner proposes to take NBLY private at $ 18.5. But the share price still go down to around $15. Why ? Is it a good time to buy ? Thanks a million.

Q: 5 I recommends buying BEP.UN but they are showing EPS at a loss, also what is the PE.

Q: I’m guessing someone else already asked a similar question, but just in case: Do you still see NBLY as a good arbitrage play after the revised purchase price of $18.50?

It’s definitely frustrating (I guess that’s one of the risks when there’s a majority shareholder) but given the share price has adjusted lower I’m thinking it’s still a good arbitrage play from today’s price?

PCP already owns over 50% of the company so the risk of this not going through appears low)?

Q: A few days ago you were talking that you were replacing some of Sun Life with IFC. I acted on this, but so far I wish I had not have made the move. IFC has been selling some of their animal products to a UK firm from what I have read and I get the impression that does not sit well with investors. Is there anything you know about this situation that I am unaware of? Thank you.

Q: I bought them all last April and the draw down got as low as 15%--they have all made a comeback now except BNS still down 8%----Do you think this resurgence is sustainable and a good time to add to my holdings?
Thanks
Peter

Q: Are you aware of any reason why GSY popped so much of late, especially in the last two days? Usually this kind of jump only occurs if there is a potential takeover bid (just guessing here). Thanks.

Q: Why DOL share price today took a hit when the announced results and forward outlooks are so positive?

Q: Hi Team,
What’s driving the relentless selling of Well lately? I don’t see why investors are taking a negative view on the name recently. Is this giving us a chance to buy more at basement bottom prices here ? Price targets average over $8 today and the stocks trading down towards the $3 range. Your take on the name is appreciated. Thanks

Shane

Q: Good morning - if indeed we are approaching a pivot in the market, which REIT' are most attractive to you these days. I have done well with DIR.UN but it's my sole real estate holding. Time to add more of the sector? Thanks for everything and best wishes of the season to all you good people at 5i. I have. seriously benefitted from your service over the past four years.

Q: Given the upcoming green technologies, what might be the most promising Canadian copper companies to invest in for medium term growth?

Q: hi, can you elucidate how you are valuing LMN? can you compare it on value/growth metrics with CTS? and what price would you be comfortable to buy LMN and add to CTS? cheers, Chris

Q: There has been so much price increase , I wonder if there is any insider buying or selling in the last 3 months ? Does the increased stake in Klaviyo poses any significance ? Thanks a lot.

Q: KXS is down $30 over the last 3 years and I am trying to understand why. The economy seems to need the solutions the company sells yet shareholder results are lacking. Are they asking to much for the product, are they losing sales, are they paying themselves to much or does the market just not have faith in the company?

Thank you for your thoughts on KXS.

Q: Peter & Team; what are good aggressive picks now for 21 yr old's new FHSA with a home purchase timeline in 5-6 years ? LMN ? NXE ? A combo ? Any other aggressive picks you like given the timeline ? What would be a 1 stock more conservative pick for the same account ? Thank you.

Q: Please comment on EQB's latest Q especially to Provision to credit losses(PCL) as to amount and comparison with those of the big 6 Can.Banks. Market's initial reaction was strong--H$82.25, L$80, C$80.31+.71 Txs forU usual great services & views

Q: My question is in regard of the new financing that GSY just took:
(-- goeasy Ltd. (TSX: GSY) (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, is pleased to announce that it closed its previously announced offering of US$550 million aggregate principal amount of senior unsecured notes due 2028 (the “Notes”). As announced on November 14, 2023, in connection with the offering of the Notes, goeasy also entered into a currency swap agreement (the “Currency Swap”) to reduce the Canadian dollar equivalent cost of borrowing on the Notes to 8.79% per annum. Before giving effect to the Currency Swap, the coupon on the Notes is 9.25% per annum. goeasy will use the proceeds from the sale of the Notes to fund the redemption of all of its outstanding 5.375% senior unsecured notes due 2024 (the “2024 Notes”).)

It seems to me that the cost of borrowing almost doubles that of the notes due for redemption. The amount is also considerable. Is it material to the forecast estimated EPS for 2024?

GoEasy is on a tear these days and I wonder if I just add to an already 4% position size or wait and let go. Buy more on weakness or buy now or stay put?

Thanks in advance and I know position size is personnal but GoEasy will continue to grow hence position size is still very reasonnable.