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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: What do you make of the most recent earnings announcement and why is the liquidity so thin? I would have thought that after several years of growth and profitability the institutional market would have been interested in picking up some ownership from the tightly owned group. My other question is why would Bennett who appears to own over 63% of the company list it if he is not willing to distribute stock to others, isn't that a very costly venture to list a company public for no other reason that to see its name listed (sarcasm here!)
Read Answer Asked by simon on May 12, 2017
Q: Re Cohodes shorting BAD. BAD may be a solid company but the fact that Cohodes has successfully shorted Valeant, Concordia, Intertain, Home Capital (I think he is shorting Equitable as well) unfortunately gives him some "credibility". I hope he is wrong on BAD but looks like damage has already been done.
Read Answer Asked by Richard on May 12, 2017
Q: Hi
I need your expertise to better understand PTG cash flow statement. The cash flow for the first quarter was positively influenced by changes in non-cash working capital NCWC (note 13). For the three months ending March 31, 2017 and 2016, PTG posted $59,151,000 and $63,502,000 in changes in accounts receivable. PTG also listed accounts payable in NCWC. I understand that accounts receivable are bills to customers that have not yet been paid and accrued liabilities are invoices that PTG have not yet been paid. Is it normal practice for these two lines to affect change in none cash working capital ?
PTG reported cash flow of $50,000,000 on revenue of $330,000,000. PTG reduced the debt level by $40,000,000 and bought back shares. The net value of the enterprise, including debt and liquidity, is around $170,000,000. What is the likelihood that PTG will be able to maintain a similar level of cash flow ? In your opinion what will it take for the market to take notice ?
Read Answer Asked by Gilles on May 12, 2017
Q: SPB has taken a big hit since the beginning of this month. Do you know why? The technical based on my charting look quite poor. Are there any good reasons that we should continue to own the shares, ie do you see the share price recovering and if so why? In a recent ranking of stocks to buy similar to SPB ( your answer to a question) you rated this company last out of 6 or 7 companies, Not sure that instills a lot of confidence in our retaining the shares as I sense that you are not overly positive on the company?
Read Answer Asked by John on May 12, 2017
Q: Hi there,

I have a question regarding allocation and trimming. In the beginning of the year I had rebalanced my portfolio and started with ~4% weighting in 25 names spread over the Balanced Equity portfolio. Many of the names have performed well and have been growing nicely since. A the same time I have been adding new funds (via work bonus, tax refund, monthly contributions etc) to my portfolio. In many cases this has taken the ~4% starting position lower as the overall total portfolio amount has increased. I know you suggest being prudent and trimming names that have done well, however as I continuously add money to my portfolio, the names that have done well are not necessarily increasing in overall portfolio weight due to new funds being added. As new money enters in my portfolio I have been adding new names (versus adding to the starting 25 positions - my portfolio is currently about 28 names). In this situation, how would you recommend trimming the winners that have gone up over the last 4 months?

Thanks!
Read Answer Asked by Michael on May 12, 2017
Q: Hi can you rate the above four companies in terms of long term growth potential, from best to worst. Safety should play a minor factor as well.

Thanks
Read Answer Asked by Valdis on May 12, 2017
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