Investment Q&A

Q: Hi 5i,
BTB REIT (BTB.UN) just announced a $30M unit financing at $4.55 (about $0.20 below recent trading prices) for the purpose of redeeming all of their series D debentures. Can you explain the strategy behind this move (replacing a debenture interest obligation with a unit distribution obligation) and, in your opinion, does it make sense for BTB? Thanks.

Q: I find your answer to the question on couche tard being down the last 2 weeks off the mark.
If they make another purchase and have to do a fund raise would not that be a good thing-- accreditive to earnings, cut costs etc etc, is not that the way couche tard became so successful in the first place.
What am i missing. Dave

Q: Hello, is it better to hold CSH.UN in a registered account (RRSP / TFSA) or in a non registered account? Is Chartwell's income in the form of dividend or interest or both? Thanks, Gervais

Q: Hi Guys,

Can you speak a bit about the adjustments that CXR has been making to its financials? Is this accounting gimmickry? Is the underlying business sustainable without these adjustments?

My thinking is that these acquisition-related adjustments can't be made forever, so won't reality of low unadjusted earnings one day set in?

Q: Hello,

To further your last response on the company:

"Markets did not like the May quarterly release and since that time the stock has fallen roughly 18%. So we are not huge fans of the momentum here and would prefer to wait for a sign of strength but at 12 times earnings, the stock is likely getting close to a fair level."

Revenue was up 37%, net income +68.6%. What's not to like? Did they have 1 time items that bloated results?

"The current platform for VCM is reaching maturity and the company now needs to transition to a new platform, the uncertainty around this is likely what has caused the weakness but the outlook remains positive."

Could you elaborate, the company says "Sales of Terrace Family products this quarter reached the highest level ever for the product line as deployment of the MPEG4 capable TC600E continued"...are some of their other products being replaced by newer technologies, or...?

Q: What is your opinion on Abbot Labs? It has gone down steadily for the last year and I doubt whether it will do any recovering before the election - or even after whoever gets in. Yet it seems the analysts are giving it a positive rating. Thanks guys.

Q: What is happening with Couche-Tard. Seems to be losing value continually...

Q: I have held bpe for 3years and it has done nothing,and yet it keeps adding student space at a significant pace. What is your one to 2 year opinion of this company? They are considering a stock consolidation. Is this a good move?

Q: If Brexit happens, I suspect ETFs like FEZ and EZU will take quite a hit (they already are). If that happens do you think these 2 would be good to pick up at bargain rates? Are there other ones you would prefer?

thanks,
Paul

Q: This is a follow up to your responses on these Bond funds (XSB CBO). Which would you prefer, and why? CBOs market value seems to erode over time versus XSB. Is this a concern?

Q: Hello, I am wondering where you guys can put the floor price for that stock (where is become so cheap that big investors will buy the stock) considering the fact that it seems that there is no institutional appetite for that stock even if it is falling like a rock and become cheaper...

The apparent "cheap" valuation of the company at this point does not seem to attract any big players and even if I believe in the company's potential.

I am scratching my head due to the fact that there is actually mostly short sellers attracted to the stock and as the share price keep falling, the company seems less and less it seems to me that the company lost control of its own destiny.

Q: I own the model portfolio (thx) for the great returns.
I am looking at adding GUD from the growth portfolio. I am very impressed with Jonathon Goodman and what he did with his previous company. I am thinking of a 5% positon or would you leg into this one with 2.5%

Q: Could you please provide your analysis of this shipping co. stock DHT Holdings. ? Thanx Robbie

Q: In light of the brexit vote weakness which are their 4 or 5 names you would recommend for a income investor looking for dividend and growth thanks

Q: what do you think about Profound Medical? I notice Jonathan Goodman is on the Board of Directors.

Best,
Linda

Q: where to put $175M for short term to wait turbulence



where to park $ to wait out summer and Brexit turbulence before re-entering foreign markets - then what?

Q: In its most recent SEC filing, billionaire Carl Icahn’s Icahn Enterprises LP (NASDAQ: IEP) disclosed a 149 percent net short position in U.S. stocks. IEP has been declining since this position was taken yet in the last few days the market and the circumstances surrounding the market have been negative. I would anticipate that IEP should rise against this situation based on its rather substantial net short position but this doesn't seem to be the case. Do you see any reason why the shares of IEP are reacting in this manner?

Q: Aya and Cxr are the 2 Cos in question. Thanks, Catherine

Q: I hold TOU, ALA, KEY. Down 18%, 24% and 13% respectively. This is all my direct oil/natural gas exposure which represents 17% of my entire portfolio.
I have 10+ years investment horizon for these stocks. These stocks fluctuate a lot which I don't mind but I dislike being underwater for a prolong period of time.

Should I stick with these names or should I make a switch to other oil companies like VET? If yes what names would you suggest and how should I divide the investment % wise? Which stock(s) to sell and which one to keep? Switch now or later?

The goal of the switch is to position myself for eventual(I believe) oil recovery.

Appreciate your insight.

Q: There have been 2 preferred issues that I know of recently
that have minimum resets that are very attractive for
a taxable acct. PPl.pr.m and trp.pr.j receting at 5.75 and 5.5% respectively. Do you know of any others ? and apart
from credit risk what is the downside with these ?
Thank you Ian