Investment Q&A

Q: Peter and crew:
At year end in your model portfolio, you made some adjustments to the equities held. As a new subscriber I was wondering if this ever occured during the course of the year (i.e. if you felt a company was no longer worth holding). If this was the case would you put out an updated report prior to the switch, or give your subscribers any sort of warning/justifications about upcoming changes to the portfolio.
Thanks as always for a great service!!

Phil

Q: Re Timbercreek, I had hoped to hear whether the dividend from this mortgage company would be treated as interest or capital gain.

Q: Hello Y'all
I hold a lot of Twin Butte(TBE) and am concerned about the sudden departure of the CFO as well as their forecast. Is it possible he did not agree with the co.s wish to report the numbers as they were presented for the report and chose to resign? Is the reaction realistic or overdone?
Great service and thanks.

Q: CBOE on the nasdaq. To me CBOE has a high P/E, however ROE is very high as well. Is this company expensive. Do they have good growth prospects and do you see any looming risks out their for the company, that one should know about.

Q: Could I please get your preference between U.S. Booze stocks STZ vs BF.B. Thanks.

Q: hello peter, i bought 100 shares of cnq when I first started investing for myself back in 2002. i bought 100 shares at 45.00, i now have 800 shares with a 650% gain, 21% of my portfolio. i have watched these shares go up and go down. I am thinking of maybee selling half my position, possibly to buy stantec, any thoughts? brenda

Q: Liquor Store. I am just wondering from a valuation perspective - it's starting to look like a good value play, and new management is in place to improve fundamentals. They are shifting towards products that sell faster/more common. Cf ratio < 10. P/S < 0.5, price to book ~0.8. Used a dcf valuation and I'm getting values in the range of $14-18 using different growth values (negative and positive) based on management targets. CF can cover the dividend but i wish they would cut it. What is your thoughts on this value play? I read the past comments and I've steered away from this stock!

Q: BAD was B+ in the June 2013 report and A- in the April 2014 5i summary. Do you log when and why the rating was changed somewhere?

Please provide your top 5 growth stocks that I can buy over the next month and hold for a few years.

Thanks

Q: Preferred Shares
Why do some companies use "Series" and "Letters" thereby making the nomenclature very confusing?
Thanks

Q: Hello Peter and Co,
In my opinion, stock prices have gone up in the last few years because economic prospects were improving; by bringing more liquidity in the system, quantitative easing has greatly contributed to the rise in stock values.
QE will fade away soon (in the fall? early next year? don't know for sure; when that happens,it would stand to reason that stock values would correct. How does one prepare for such an eventuality? I could raise some cash, say 20-30%. For your info:
my long term objective was to get a growth rate of 7% pa; however, my portfolio has gone up by 14.6% pa in the last 3½ years whereas the benchmark has gone up by only 5.4% pa in that same period.
I value your opinion.
Thanks
Tony

Q: If you could only buy one of LNR or ACQ at today's prices, which would you choose? And would you buy now or wait until summer?

Thanks,

Carla

Q: Peter and all,

A pointed question on AVO: I took a small position at the end of 2013 and between the curious equity raise, the poorly handled executive exits and the rotation out of growth stocks I am down 36 per cent. But I still like the company's technology, and its most recent numbers were solid. The question: I am considering doubling down to cost average around $25. Would you do it if you were in my shoes? Or is there more rotation downside and/or taint to the stock from the various blunders?

Thank you!

Q: The following is what I discovered when searching for TSX rules for odd lots. It seems in general there is no discount or premium for less than board lots, but in practice, it's probably pretty easy for a M.M. to get around; the powers can't even agree on how to spell the word(s)!

Policy 4-604 Responsibilities of Market Makers
(3) Maintenance of a Two-Sided Market
3. Odd-lot Responsibilities—General—Market Makers shall maintain an odd lot market at the board lot quotation for immediately tradeable incoming oddlots. Booked oddlots which become tradeable due to a boardlot quote change will execute at their original limit price.

Special Circumstances—.......... If a Market Maker wishes to call an odd-lot market at a different price than the board lot market, the prior consent of a Market Surveillance Official must be obtained.


In view of the above would I have a case for a fill on a mixed lot open limit order where my board lot was filled and the odd lot part unfilled? This happened to me on CM. Thanks, J.

Q: Hi :
Just a follow up note on the AX.UN offering .
I was only issued 500 shares , and not the 1000 shares I had requested . The morning after the offering the price plummeted below the offering price , and was still lower on Friday afternoon. In retrospect, I would have been better off ignoring the offering and buying at Market . New Issues can be frustrating . Thanks

Q: What is your opinion of Novartis AG (NVS on NYSE) ?

Q: tph What do you think of their latest results. thanks

Q: Hello Peter and 5i, Just been looking at the chart for ZMT. When every advisor on the planet is telling everyone to stay away from the base metals materials sector, why has this ticker done so well the past year. Is this an example of the big money buying stuff early so they can sell it to the street in a year or so?

Q: Good morning peter and team .What is your take on gold stocks? I am looking to buy yamana gold. What would be your advice? Any better performing stocks would you like to recommend in its peers?

Q: Re avigilon, i was told they started to capitalize the r&d , according to new accounting rules, did not tell the market, some people got spooked and some hedge funds were shorting the stock.
As for new purchases with all their cash, i am also told there is not much out there except small add ons.
I totally get that this stock is way kversold on fear etc, but could you comment on the above. Dave

Q: Hi-
could you please provide a few Reit picks for income and some growth? Thanks