Investment Q&A

• Income Portfolio (Income)
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Q: Your Income Portfolio is sitting on 10% cash. I know you are not keen on both a) holding cash and b) market timing. Question 1 = what is your rationale for holding this amount of cash? Q2 = what are your plans and timing for reducing the cash component?

Thanks for your great service...Steve

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Read Answer Asked by Stephen on October 11, 2018

Q: Good morning. Which stocks are most tempting to you this morning? Or, in your seasoned opinion does this sell off have more steam and maybe holding for a bit before buying might be best? Thanks!

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Read Answer Asked by Janet on October 11, 2018

• BlackPearl Resources Inc. (PXX $1.03)
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Q: Hi Peter & team,
What do you think of the deal with IPCO? Supposedly it represents an aquisition of $1.85/share of PXX....but it's only at ~ 1.50. This is my son's stock and he has a 55% loss even at 1.50 price. Would you sell? Should it get to 1.85?
Thanks!

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Read Answer Asked by Silvia on October 11, 2018

• iShares MSCI Europe IMI Index ETF (CAD-Hedged) (XEH $36.82)
  • $36.82 P/E (TTM): 10.08X Cap: $269M
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Q: Given current valuation of US market, from risk/reward perspective I wonder if European market is more attractive to invest (Brexit impact?)If yes, which sector or names you recommend, are there any etfs (I prefer hydged to CAD)?

Thanks,

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Read Answer Asked by Lin on October 11, 2018

• Manulife Financial Corporation (MFC $44.97)
  • $44.97 P/E (TTM): 14.47X Cap: $77.11B
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Q: Can you offer any insight into the short attack of Manulfe by the Muddy Waters group.

Many thanks for your service,
NA

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Read Answer Asked by Nicholas on October 11, 2018

• Miscellaneous (MISC)
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Q: What would be your guess, in percentage, of another correction happening now like the one last Jan-Apr? It seems to me that there are more real risks now then there were then (interest rate fears, China tarrifs). Do you think if there are strong earnings in November it would move this market up? For some reason I don't think they would.

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Read Answer Asked by John on October 11, 2018

• Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR $10.14)
  • $10.14 Cap: $495M
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• Vanguard Dividend Appreciation FTF (VIG $217.82)
  • $217.82 P/E (TTM): 24.54X Cap: $92.18B
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• iShares Floating Rate Bond ETF (FLOT $51.06)
  • $51.06 Cap: $9.06B
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Q: What's your view of continuing to hold VIG in the near to medium term? I'm thinking there could be an increasing amount of pressure on it and its constituent companies as higher bond yields are actually materializing and are making VIG's 1.84% dividend look anemic by comparison. Is there an alternative holding/strategy you might recommend in its place during this period?

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Read Answer Asked by Peter on October 11, 2018

• Macro Enterprises Inc. (MCR $4.00)
  • $4.00 Cap: $126M
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Q: May I have your opinion on the implications of their receipt of the "Full Notice to Proceed" from TransCanada in relation to the Coastal Gaslink Pipeline Project

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Read Answer Asked by Edgar on October 11, 2018

• Abitibi Royalties Inc. (RZZ $27.00)
  • $27.00 Cap: $336M
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• Franco-Nevada Corporation (FNV $264.46)
  • $264.46 P/E (TTM): 45.67X Cap: $50.10B
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Q: http://abitibiroyalties.com/investors/letter-to-shareholders/may182018/
Hi Peter, can I get your updated view / valuations on FZZ since last? He says he studies Berkshire and Franco Nevada and wants to become the best gold company. Talks about cash per share and not issuing shares or using options as compensation like Buffett says. Would you favor to stick with Freehold, Silver Wheaton, SPDR, and Sprotts physical gold silver etf instead? Thanks!

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Read Answer Asked by Michael on October 11, 2018

• Invesco NASDAQ 100 Index ETF (QQC $42.78)
  • $42.78 P/E (TTM): 34.28X Cap: $1.31B
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• Vanguard Information Technology ETF (VGT $790.95)
  • $790.95 P/E (TTM): 37.24X Cap: $96.20B
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Q: Given the recent declines in prices for these two ETF's, would this be a good time to buy in? An which would you prefer?

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Read Answer Asked by Ron on October 11, 2018

Q: Looking for fixed income exposure (Canadian). One or two ETFs if possible. What impact should we expect of rising rates on these ETFs? Thanks.

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Read Answer Asked by Jean-Bernard on October 11, 2018

• AltaGas Ltd. (ALA $40.86)
  • $40.86 P/E (TTM): 16.17X Cap: $12.49B
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• Artis Real Estate Investment Trust (AX.UN $6.00)
  • $6.00 Cap: $579M
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• Whitecap Resources Inc. (WCP $10.57)
  • $10.57 P/E (TTM): 7.23X Cap: $12.88B
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• Western Forest Products Inc. (WEF $11.80)
  • $11.80 Cap: $125M
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• Crius Energy Trust (KWH.UN $8.80)
  • $8.80 Cap: $498M
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Q: These are my current doggies by % loss and have been for a while. Can you recommend replacement(s) or would you suggest just holding?

Carl

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Read Answer Asked by Carl on October 11, 2018

Q: You mentioned earlier that with rate increases and other uncertainty growth stocks take a hit. Also, that there is some opportunity/interesting options out there. What would you recommended as a buy right now? (ps. I'm currently following the balanced growth portfolio.)

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Read Answer Asked by Matt on October 11, 2018

• Patriot One Technologies Inc. (PAT)
  • P/E (TTM): -2.3X Cap: $96M
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Q: Can you please comment on the current run up of PAT. I don't see any news on it. Is it time to take a full position

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Read Answer Asked by Bruce on October 11, 2018

Q: Hi
I have a question regarding stock options.

When a company declares stock options to management or board members, etc., does the person receiving the stock option have to pay the exercise price to the company's treasury before purchasing these shares? Is that true for all types of stock options?

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Read Answer Asked by Gilles on October 11, 2018

Q: What opportunities do you see during this mini correction? I'm looking to deploy some cash and would like to know what are good opportunities or names to add to within the growth portfolio. I also own TSGI , TOY and SIS.

Thanks!

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Read Answer Asked by Elliott on October 11, 2018

Q: Gentlemen, With all the selling going on these days, where is the money going? Not sure if you have any tools that give any indication.

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Read Answer Asked by Bob on October 11, 2018

• TFI International Inc. (TFII $122.13)
  • $122.13 P/E (TTM): 20.2X Cap: $10.33B
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Q: I've lost 10% on TFII. is this still a good?

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Read Answer Asked by Abhishek on October 11, 2018

• Balanced Equity Portfolio (BEPORT)
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Q: With the recent market declines, what would be your top 3 picks in each of your portfolios?

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Read Answer Asked by Larry M. on October 11, 2018

• Cascades Inc. (CAS $11.01)
  • $11.01 Cap: $1.12B
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Q: Cascades testing 52 week lows and close to 2016 levels. Likely good entry point now that Nafta is over? Debt was a concern from past comments; is this still a concern. Thinking of it in TFSA with 5-5 year hold primarily for capital gains

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Read Answer Asked by Harry on October 11, 2018