Investment Q&A

Q: Hi 5i Team,

Pls give your thought and outlook for Eidos Therapeutics.

Thank you for your excellent service as always.

Q: I own these shares in my well diversified portfolio and would like to increase my position . What is your
opinion of this Fund?

Q: Would you consider this a long term hold and hold will it preform in a down turn?

Q: Over the last year I have been trying to follow some 5i stocks using your philosophy of buy and give it a chance as long as the fundamentals are there. I had a full posn (4%) in TSGI (one example) which is down by 54% now. Normally I would have sold as soon as there was indication of troubles or momentum went out of the stock. I think Ryan indicated he thinks the owners will figure it. Yet some of the responses I'm reading are not too sure. Can you firm it up a bit?

Thanks

Q: It is possible that next year we may have a minority's govt. in Ottawa between the liberals and ndp. As there is too much govt debt and the ndp will want to increase social spending and perhaps block any pipeline expansion they will need to increase tax revenue.one way would be to increase the capital tax from 50%.We are in our early 80s and were long term investors ,have large capital gains. Does it make sense for us to sell our equities with a view to repurchase them back using the net after tax proceeds? After all eventually we or our estate will have to pay the tax.

Q: Can you provide me a list of some gold names to look at? 5i's favourites and a few others to look at. Please rank in rough order of which would have the most torque to a rising gold price. Thank you.

Q: Looking for longer term growth / turnaround (3-5 years), with a significant dividend. Considering Whitecap Resources and Vermillion in the Energy space. Thoughts? If not them, might you suggest another? Thank you!

Q: Hello Peter / Ryan and Team,

Thoughts of KL going forward? It has had an incredible run the last few years. It seems like Insiders have been selling quite a few shares (looking at your company profile tab).

Thanks for your great service,

Wes

Q: What is your opinion about these three companies?

Q: Greetings 5i,

Weeks like this make me glad I've stayed fully invested and haven't "sold in May and went away".

My question is regarding the possibility of a new round of QE. What sectors would stand to benefit the most from such a move by the Fed?

Cheers!

Q: May I please have your opinion on Indus Holding Inc. Also, I see conflicting market caps on different websites. Can you please confirm the current approximate market cap. Thank you.

Q: Regarding share buybacks, do you agree with common commentary that they are a positive? I take the view that as a use of cash, they have only 2 possible positives for a company, but in general are a net negative indicator. In reducing share count, they reduce the total expense of dividends. And it would provide the opportunity to issue shares in future at a higher price without increasing share count, relative to pre-buyback level. However, that doesn't seem to happen very often. The negative perspective is that they send the message the company doesn't know what to do with cash and are simply buying themselves an increased EPS without committing to normal good business tactics to increase earnings and develop new markets.
In the context of return to shareholders, it is only the shareholders who sell that receive return. So in comparison to a special dividend it is uneven distribution of cash.

Q: Hi Team, Your comments on this stock is much appreciated. It’s down about 13% .

Thanks,

Q: This is a follow up question to my request for your opinion on the management of many companies. Sorry for the prior long list.

It is good to know that you need to like the management of all companies included in your model portfolios. That helps a great deal. When you remove a company from your portfolios, does that mean that you have lost confidence in the management team, among other things?

I have removed those in your portfolios from my list, as well as those with reports where I have found comments on management. The remainder are as follows:

CTC.A LNR PZA
L SAP
CVE IMO TRP VET
BTO ELD FNV LUN NGT OR PSK WPM
EIF WJA
FM TECK.B WFT
SJR.B T
AQN CU EMA FTS

US: CVS GILD UNH CAT NVDA INTC

Could you please comment on their management teams, as to whether they are excellent, good, acceptable, or questionable?

Thank you,

Fed

Q: I’m very confused with the movement in Tricon’s share price despite beating analyst expectations and generally performing well financially for years it seems to only trade sideways. I’ve also noticed that the REIT sector has broken out as a whole (ex. XRE) but Tricon can’t catch a bid. I know the business isn’t quite the same but I’ve heard analysts make analogies to Brookfield and Blackstone and yet the share price just goes sideways. What gives? Also would Tricon be an attractive take out for Brookfield or some other private equity? Thanks

Q: Am thinking of replacing ITP with Telus in my RRSP. Your thoughts? I have no other telecom exposure.

Q: Is it too late to invest in Light Speed. ?

Q: Answer to shares jumping:
http://s1.q4cdn.com/543273785/files/doc_presentations/2019/06/BELLUS-Health-Corporate-Presentation-RJ-Life-Sciences-and-MedTech-Conference-June-19-2019-vFinal.pdf

Walter

Q: I am bit lost with bond market performance. XLB NAV has gone up by 10% YTD. TLT also up by 10%. As bond yields go up with interest rate peaking the price will come down. Will the total return still be significant if the NAV comes down by 10% or more in next several years. My experience with some of the other bond funds I held previously generated negative total returns after holding them for many years.

Thanks
Ninad

Q: I hold a position in BEP.UN and was thinking of either adding to it or starting a new position in either BIP.UN or BAM. I'm a conservative long term investor and would reinvest any dividend income. I will hold it in a registered account. Which of these companies do you think offers the best value now.
Thanks