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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: May I have you opinion on preferred shares? Specifically I would like you opinion of
Royal Bank of Canada 3.6% Non-Cum. 5-Year Rate Reset First Pref., Series BD

Call/Reset Date: 24-May-2020
Call Price: $25.00
Terms of Reset: 5yr GoC Yld + 2.74%
Close Price (13-Oct-15): $18.46

Since this is considered to be Non-Viability Contingent Capital, I believe there may be a good chance that this will be called. At the current price, would it be worth buying for the fixed income.

Thank-you
Read Answer Asked by J Stephen on October 15, 2015
Q: With Fitch putting HCG on a negative outlook, how concerned are you about HCG's future? During the rating process, would Fitch have received information about the current quarter's results or future outlook?

Thanks,
Read Answer Asked by Hans on October 14, 2015
Q: getting crushed today buying opportunity???

thx
Read Answer Asked by blake on October 14, 2015
Q: If own, what would you do with BOFI (US) following the latest news and price decline. Looks to me someone shouldn't react. Can you please comment.
Read Answer Asked by Dominic on October 14, 2015
Q: Had my eye on CXR for a while and thought I was cute by buying when they announced the placement pricing (at around $84 CAD) and we all know what has happened since. I caught a bit of your response yesterday to a caller on BNN regarding averaging down. My original purchase was a third to half position and makes up approx 1% of my portfolio. Thinking of adding to CXR here and bring my weighting up to 2% and see what happens. I may have also read that one reason for the share price decline was the possibility of having to do another share issue to pay down some debt? Is that a high probability? If so should I hold off buying the rest of my position?
Read Answer Asked by Richard on October 14, 2015
Q: I have taken a loss on TMA. Should I sell it and be done?
Read Answer Asked by christianne on October 14, 2015
Q: Hello. Seen Peter on BNN today. CMH I have held for some time and every so often it will have an 8 or 9% drop. It seems thinly traded. What is your opinion of it? Also, SWKS (U.S.) was a market performer and over the last while has fallen considerably. It acquired another company. Would this be the reason for such a downward trade over the last while? What is your opinion on this. Hate to mention CXR again, but I am still holding AVO which CXR seems to be going the same route as AVO. There is always a reason why stocks are going down, but in the case of these two and a few others, they seem to have quite a considerable drop. Is it just the market takes a hate to these companies or is there something extra we don't know about them? I know I am asking the right people for this type of advice. Dennis
Read Answer Asked by Dennis on October 14, 2015
Q: Dear 5i
I currently don't have any financial stocks in my portfolio and feel that now be a good time to do so .
I'm considering efn , sbny and the much larger bns . If I was to invest in one or two in this sector would it be one or two of the above or something different ? Assume a 3-5 year time frame .
Thank you
Bill C.
Read Answer Asked by Bill on October 14, 2015
Q: These questions are in regard to Peter’s comment today about maintaining a balanced (sector weighted) portfolio: 1. If one was starting fresh with a $1m equity portfolio, how many names would you choose if building a portfolio from the Summary List? Regardless of sector (next question), would they all be equal weight by name?
2. I see that you have applied 14 sectors to your summary names – 4 more than the TSX/S&P breakdowns (Services, Industrial Goods, Financial Services and Consumer Goods seem to be adjuncts to the usual 10). In determining sector weighting of the portfolio, would you choose names so that all 14 sectors were of equal weight (i.e. 7% each)? If so, how far would you let a sector run before re-balancing?
3. If one decided to follow your Balanced Portfolio, would you buy all 27 of your current names? Would they be all equal weight or at the current weights in your portfolio?
4. What would be the highest percentage for a single name to run before re-balancing?

I realize sector/stock weighting cannot be made into a science, but I’m just trying to get a toehold conceptually. Thanks a lot.
Read Answer Asked by David on October 14, 2015
Q: Just wondering if your position on CPX changed since May 20. How would you rate the stock today (buy/hold/sell)? CPX is now less than 2% in my portfolio and I am approx 20% down on this stock. I like the dividend but the stock chart worries me - it's been steady downhill YTD. I know that the last quarter was bad due to facility outage, but the stock price is likely to go down even more due to tax loss sale, it seems like an ideal candidate... Do you consider the dividend safe? If yes, I have no problem holding it for a few years. If not, should I take a loss and switch to a better name (???) in the same sector?
Thanks.
Read Answer Asked by Michael on October 14, 2015
Q: Hi Guys,
Any recent update on VLE? it's been awhile since a question has been asked. I see Scott Lamacraft is still the largest shareholder.
Thanks
Read Answer Asked by Chris on October 14, 2015
Q: Good afternoon:
I would appreciate your recommendation with respect to Trevali in light of the recent news release and the upsurge in volume. Thank you.
Read Answer Asked by Peter on October 14, 2015
Q: Regarding the proposed merger, would you advise holding or selling this stock? I'm up 28%.
Read Answer Asked by Graeme on October 14, 2015
Q: I agree that it is a great business but I would appreciate more details on the valuation metrics you look at to evaluate the company. You mention that it is cheap but I see it at 24 times LTM earnings of 6.57 per share. I find that to be on the high end of it's historical range. Maybe I am missing something here ? Is there a better metric to look at ? Thank you!!
Read Answer Asked by Mario on October 14, 2015
Q: What is your current opinion on CXI? I am down quite a bit on this one and it seems to be drifting lower.
Read Answer Asked by Raymond on October 14, 2015
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