Investment Q&A

Q: What would be your favorite Canadian stocks to initiate a position in at this time for a long term position? I know that's vague but I'm looking to reinvest the cash from PHO. Not looking to replace it necessarily with something similar in the same sector but just the best opportunity.

Thanks

Q: when can we expect to receive the cash after the sale of Photon, and what do you suggest to replace it. thanks, Jean

Q: I sold all the PHO stock in my TFSA account (5000 shares). I would like to replace it with a high growth stock. What is your suggestions?
Thanks

Q: What would be the best replacement for Photon or would it be better to hold on to cash for a possible correction.

Thanks as always

Thomas

Q: With PHO going private which technology stock would be best to replace it with? I currently own OTEX and LSPD

Thanks

Q: MKS is buying PHO. Would it make sense to buy MKS? Would the growth/risk/balance sheet be similar? What are the differences? Would you recommend a purchase of MKS or would you choose another company? If so, which one(s)?

Thanks for your service

Q: Now that the vote has passed, how long until the existing position shows up as cash? I'm just calculating taking the hit on the .02 plus fees to reinvest now versus holding for the conversion.

Q: I'm really overweight in IT. Close to 35% but I need to get down to 20% or less. IT holdings are: KXS (3.1%); SHOP (16.9%); CSU (5.2%); TOI (0.4%); DND (0.2%); LSPD (2.0%); SYZ (1.4%); PHO (1.0%); CRWD (2%); NVDA (0.7%); DOCU (1.5%).

Not sure if it makes a difference but all are in TFSA except KXS, CRWD and DOCU (cash/margin account). Due to the fact that I'm working I don't want to trigger any taxable gains if possible. Obviously I need to trim SHOP by at least 1/2.

SYZ seems to be a laggard since it has only appreciated 45% in almost 7 years so I think I should sell that. Do you agree? (assuming a balanced portfolio).

Aren't DND and PHO going to be purchased?

I'm emotionally attached to the high gains otherwise... What's your suggestion on how to bring down my IT holdings in a tax efficient way?

Q: Now that the deal is done. If one were to hold their shares and wait for the transaction to close when would shares be paid out approximately? Thx

Q: I couldn't find the results of the PHO meeting and vote.

Is it time to sell?

Mark

Q: If you were a shareholder in Photon, how would you vote your proxy regarding the takeover?

Q: If the deal doesn't go through, won't the stock price fall as it only went up to 3.60 because that was the offer price? I've been holding in case more is offered. The vote is really close. Should I just sell?

Q: I took an amateur stab at a discounted cash flow analysis of PHO
to help me decide if I should vote Yes or No to approve the upcoming friendly takeover vote. In the end, I had to make a lot of assumptions about growth rates, cash flow projections and valuation of comparables. I came up with an intrinsic value share price ranging from 3.64 - 5.93 depending. But because of all the variables, plus my non-expertise, I do not trust my own analysis. Also there may be better ways to value the company than DCF analysis. What's your best guess as to this company's value or range of values? What method and assumptions would you use?

Q: Photon Control Notice of Meeting and Management Information Circular was received the other day. Proxy due date is June 25, 2021. Reading the Information Circular, Mawer Investment Management owns 10.5% of the 105M shares outstanding and Photon’s Board of Directors owns 9.4% of the shares outstanding. As you wrote in one of your answers, there are not many large shareholders to fight for a higher bid. From your stock market experience, would the possibility of a higher bid from another company occur before June 25 or after the proxy vote?

Q: Just wondering if you thought UCTT might be a good replacement for PHO when it gets taken over?

TIA

Q: What will be happening to Photon, and what do you suggest? If you think its dead money at the moment and that we should sell, what is a good alternative stock to replace it with. Thanks, Jean

Q: When does the deal close? By when do you think better bids could appear?
(to replace PHO - what do you suggest?)
Also what semi play do you like? Do you like the manufacturers? Do you have a prefered play there?

Thanks
Mark

Q: Anything further to add on a possible competing offer for PHO? When do you as the latest date for something to materialize if it does? What are the revised odds of this happening as time has passed on. Would you continue to hold?

Q: When will we know if PHO is getting another offer or if the current one will go through?

Q: Both (pho) Photon Control & (ish) Inner Spirit have recently become companies of merger. MKSI to buy all shares of PHO & SNDL to buy all shares of ISH.

Would you suggest continue holding these shares of PHO & ISH to become shares of the new companies. Or would it be better to sell now at the higher share value before the mergers are complete?

Thank You