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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: Hello 5i Team. I'm thinking of starting a small position (1-2%) in LIFE.B (unhedged) in global healthcare for both capital appreciation and yield. Fund would be held in my taxable account for long term hold. Given that holdings are geographically; 55% US and remainder European what will taxation look like? I assume that the 15% withholding tax would be apply to the dividend even with geographic distribution of holdings? Any other tax implications that I need to be aware of? Your recent comments on the fund on May 228/28, 2020 were also very helpful. Thx Steve.
Read Answer Asked by Stephen on June 04, 2020
Q: Regarding VFV and SPY, yesterday there was a large disparity between these two around 1%. Today VFV is -0.31% and SPY is +0.30%. I know there is currency involved, but this seems like quite a difference on a higher volume ETF. Any thoughts?

Also, VUN seems to outperform VFV over the longer term. It is not much more in MER - would you choose VUN over VFV for a 10 year hold?
Read Answer Asked by Terry on June 04, 2020
Q: In your response to David's question on May 26/20 you disagreed with his assessment that IBI Group's has a good looking balance sheet. The years 2019 and 2018 are not comparable because of IFRS16. Like other smaller companies IBI did not restate it 2018 numbers for the lease liabilities that were recorded at $67million in 2019. In fact bank debt was reduced by $25 million and cash on hand increased by $6 million. The remaining material debt is a convertible debenture maturing Dec 31/21 which if the share price starts to reflect how undervalued IBI is to its peers, that debt will become equity.
The other adjustment I would like to draw readers attention is that IBI Group has significant insider ownership. As disclosed on page 9 of the Management Information Circular, the partners through a Management Partnership own 6.3 million shares of Non Participating Voting shares convertible into common shares(1 for 1) as well as 7.1 million common shares. On a diluted basis the partners or senior management own 35.68%. Directors and other senior officers own an additional 1.7%. Thank you
Don

Read Answer Asked by Don on June 04, 2020
Q: Recently listed company.
They just raised $5m at .165 and the sp has been sliding on very high volume
Any comments
Thank you
Read Answer Asked by JACK on June 04, 2020
Q: Could you provide internet sites to give me information on insider buy sell information for both Canadian and American stocks
Read Answer Asked by James on June 04, 2020
Q: Peter,

Dividend sustainability is a significant concern to so many investors. You mention Free cash flow as a good measuring stick. Is there an industry consensus of how this is determined? For instance on Telus ( FYE Dec 31,2019) annual report shows free cash flow of $932m, with a disclaimer note about no industry standard . Morningstar shows $33 million free cash flow for the same period. Both sources show $3,927m as operating cash flow . Which one do you recommend as the most accurate predictor of the ability of a company to sustain or increase their dividend payouts ? If it is free cash flow, what source / formula should one use?

Thank you,
Paul
Read Answer Asked by paul on June 04, 2020
Q: HI Team, I currently hold CMG and has performed well lately, do you see much more upside/growth? Do I continue to hold, or sell . If I were to sell, between DPZ or SBUX , which has the better growth profile? I know Mr. Cramer loves DPZ but it has had a good run-up and wonder about it. I thank-you in advance! Sam
Read Answer Asked by sam on June 04, 2020
Q: Hey 5i,

As a follow up. What are your top picks US/CDN REIT ETF's
You'd recommend for a longterm hold.

Thank you for all the great advice!
Read Answer Asked by Adam on June 04, 2020
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