Investment Q&A

• Miscellaneous (MISC)
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Q: Hi 5i. I just read an article at pbs.org about the growing monetary bubble and its eventual unwinding which is supposedly inevitable given the unprecedented level of money creation in the world that is going on. What is your take on the subject? Do you agree that a day of reckoning is inevitable, and what would it look like? Doesn't Econ 101 say we should be seeing escalating inflation if this is the case? What would be the best defence to protect savings in a bad scenario?

Deduct questions as you see fit. Thanks!

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Read Answer Asked by Rick on June 30, 2016

• Constellation Software Inc. (CSU $4,599.69)
  • $4,599.69 P/E (TTM): 114.18X Cap: $97.59B
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• Enghouse Systems Limited (ENGH $20.95)
  • $20.95 P/E (TTM): 15.82X Cap: $1.25B
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Q: Earlier this year your team did a portfolio review for me. Thanks for that as I am much more diversified now (and a bit smarter). I own ESL and would like your opinion on switching to CSU?

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Read Answer Asked by Danny-boy on June 30, 2016

• High Arctic Energy Services Inc. (HWO $0.82)
  • $0.82 Cap: $10M
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Q: What are your thoughts on tonight's update for High Arctic? Should I be concerned with the short term on the new contract? I really like this company fundamentally but worry about the risk of their customer concentration.

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Read Answer Asked by Peter on June 30, 2016

• Colliers International Group Inc. Subordinate Voting Shares (CIGI $229.89)
  • $229.89 P/E (TTM): 73.27X Cap: $11.56B
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• FirstService Corporation (FSV $279.26)
  • $279.26 P/E (TTM): 63.75X Cap: $12.70B
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Q: I have trimmed my real estate holdings to 10% of my stock portfolio with 5% in each CIG and FSV. However, I am wondering if I should be taking into account my commercial & residential real estate outside of my stock portfolio? They do generate monthly income and I don't want to sell the properties. Perhaps I should not hold any real estate in my stock portfolio?

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Read Answer Asked by stephen on June 30, 2016

• Avigilon Corporation (AVO $26.98)
  • $26.98 P/E (TTM): 12.95X Cap: $18.39B
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• Trevali Mining Corporation (TV $0.21)
  • $0.21 Cap: $20M
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Q: Hi 5i team

I am transitioning my stock port to more look like your balanced growth one. I have MG as of today plus BNS,ENB ALA HR.UN , BEP.UN, AAPL DIS GOOGL NA IGM TD G SLW THO SU CPG POT and very small amounts (under 1% ) in a few dogs TV AVO ESN. Any point in dumping TV and/or AVO at 50% loss? I am over 20% cash and would like your suggestion on any other sells plus which names from your list to consider adding.

Thanks a lot

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Read Answer Asked by Greg on June 30, 2016

• DHX Media Ltd. Common and Variable Voting Shares (DHX)
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• Sandvine Corporation (SVC $4.39)
  • $4.39 P/E (TTM): 47.7X
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Q: I would like to purchase some shares of Sandvine Corp (SNV). Please can I have your thoughts and opinion. Another question, your comments on DHX.B please. Which one would be your first choice. Thanks. Catherine

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Read Answer Asked by Catherine on June 30, 2016

• Lucara Diamond Corp. (LUC $0.21)
  • $0.21 P/E (TTM): 1.48X Cap: $104M
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Q: Interested to hear your thoughts on Lucaras failure to sell Lesedi la Rona (i.e. the giant 1109 carat diamond). Do you think the stock drop is justified? Would this result be enough to justify selling the stock for a long term holder?

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Read Answer Asked by JONAS on June 30, 2016

• Lucara Diamond Corp. (LUC $0.21)
  • $0.21 P/E (TTM): 1.48X Cap: $104M
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Q: This stock nosedived yesterday b/c the 1100 ct
diamond failed to sell above min. bid price.
Does this change the appeal of the company by investors and your opinion of the company
[Was the big drop overdone]
thank you.

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Read Answer Asked by tom on June 30, 2016

• Miscellaneous (MISC)
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Q: Peter; Just a comment- those who think they can "time" the market should take this week as why you can't.
Rod

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Read Answer Asked by Rodney on June 30, 2016

• Empire Company Limited Non-Voting Class A Shares (EMP.A $52.49)
  • $52.49 P/E (TTM): 18.13X Cap: $12.21B
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Q: Company continues to struggle based on recent results, and forecast was not great. At what point do you think this is buyable if you are willing to wait 3-5 years?

Regards,

Robert

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Read Answer Asked by Robert on June 30, 2016

• Empire Company Limited Non-Voting Class A Shares (EMP.A $52.49)
  • $52.49 P/E (TTM): 18.13X Cap: $12.21B
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Q: Your thoughts on Empire. Why did it drop so much today?
Revenues seem to go slowly up every year.
Tank you,
Serge

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Read Answer Asked by Serge on June 30, 2016

• Laurentian Bank of Canada (LB $31.59)
  • $31.59 P/E (TTM): 12.62X Cap: $1.39B
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Q: Laurentian is doing $135 million dollar deal today at a nice discount and the proceed will be used to paid for an acquisition of CIT group What is your opinion on the stock and this deal?

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Read Answer Asked by OSCAR on June 29, 2016

• Tricon Residential Inc. (TCN $15.34)
  • $15.34 P/E (TTM): 28.0X Cap: $4.50B
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Q: What is your view of TCN? It's results haven't looked good recently and you haven't updated it...Thanks.

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Read Answer Asked by christianne on June 29, 2016

• Brookfield Business Partners L.P. (BBU.UN $38.06)
  • $38.06 Cap: $7.97B
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Q: Prior to the spin-off Brookfield parent indicated the value of BBU.UN units would be approximately US$25. As it is now trading below CAD $24 would you recommend buying?

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Read Answer Asked by David on June 29, 2016

• The Intertain Group Limited Exchangeable Shares (ITX $11.95)
  • $11.95 Cap: $233M
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Q: Hi , can you translate the IT press release from yesterday
If they list on LSE , will it no longer trade on the TSX.
If IT still trades on TSX how is it correlated with "ListCo"
If still trading does the share price stay in sync
Thanks

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Read Answer Asked by David on June 29, 2016

• Boralex Inc. Class A Shares (BLX $28.15)
  • $28.15 Cap: $2.87B
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Q: Hello guys,

What do you think of Boralex. 1) Quality of the company 2) shor term catalyser 3) Valuation

Thanx!

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Read Answer Asked by Gabriel on June 29, 2016

• Maple Leaf Foods Inc. (MFI $35.16)
  • $35.16 P/E (TTM): 24.9X Cap: $4.36B
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• Premium Brands Holdings Corporation (PBH $94.55)
  • $94.55 P/E (TTM): 44.87X Cap: $4.16B
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Q: I own loblaw but need another food stock. Which is cheaper premium brands or maple leaf or some other company. Thanks to awesome 5i.

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Read Answer Asked by Helen on June 29, 2016

• TIO Networks Corp (TNC $3.33)
  • $3.33 P/E (TTM): 65.3X
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Q: Thoughts on the latest results?

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Read Answer Asked by Charles on June 29, 2016

• iShares TIPS Bond ETF (TIP $111.46)
  • $111.46 Cap: $13.69B
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Q: Hi Team,

Can you please comment on the strengths and weaknesses of TIP - iShares Barclays TIPS Bond Fund (ETF). It seems to be performing well this year so far.

Is it a good substitute for buying and holding bonds directly in a self-managed bond ladder?

Thank you. Michael

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Read Answer Asked by Michael on June 29, 2016

• Cematrix Corporation (CVX $0.51)
  • $0.51 P/E (TTM): 30.0X Cap: $76M
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Q: I'd like to get your take on this company in light of its 5 year marketing deal with Lafarge.

Seems to be a great vote of confidence for cemetrex.
Do you see them raising equity? Would Lafarge be a likely participant?

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Read Answer Asked by Scott on June 29, 2016