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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: My only energy holdings are equal positions of ALA, ENF and PPL. These total 7% of my equity portfolio and are held in a registered account (RRIF). In your view does this represent an over-concentration in the energy sub-sector, and if so which of the three would you sell? I could sell ENF or PPL at a profit, but would incur a loss by selling ALA. Thank you.
Read Answer Asked by Barrie on January 04, 2017
Q: Hi - I have $34k cash in my account for real estate and am looking to add 2 or 3 residential low-med rent REITS. Can you tell me your favourites that have the lease amount of debt (ie. least affected by increase in interest rates). - I want at least one Canadian, One USA and if there is an international one I will consider it too. - (also is there a place that summarizes REITS somewhere on the web?) - thanks and Happy New Year
Read Answer Asked by Ron on January 04, 2017
Q: Earlier today part of your reply to a security question was: "On any account there is, at first, insurance protection through the Canadian Investor Protection Fund, up to $1 million". What is an account? At TD they breakout you account into tfsa, rrsp, us, and Canada. Are these each individual accounts? As well you can have another account number with a similar breakdown. Would that account be covered by a separate $1,000,000 insurance? Would it then be wise to open another account at another broker, if you liquid assets exceed $1,000,000. Thanks, Mark
Read Answer Asked by Mark on January 04, 2017
Q: Good afternoon,

I am new to 5iresearch, and have been spending the last few weeks researching your Balanced Portfolio.

I am struggling a little with both CXI and CCL. I would like to include them in my own portfolio construction, but am concerned with their recent (significant) price appreciation.

Notwithstanding the various explanations for the recent price performance of both companies, I am simply wondering if you would add to your exposure of both CXI and CCL at current levels?
Read Answer Asked by Trevor on January 03, 2017
Q: I contacted you with a question regarding TCS yesterday and haven't heard anything yet. I will ask the question again in case it got lost in the New Year mail. TCS was a BNN recommendation in mid-2016 in the $10.80 range. Shortly after the recommendation it began trading in the $9 range and basically hasn't done much since. Is there issues with this company? A short note on SHOP - when I see a big drop like the big drop recently I think of Concordia which I had at over $100 and ended up selling at $12. I am concerned that things can happen like that again. Thank you. Dennis
Read Answer Asked by Dennis on January 03, 2017
Q: This is the thesis you offered in early July, on NVDA. It is really about gaming and virtual reality. Its chips have one of the best reputations for speed and quality, both very necessary for these industries. Itis expensive at 25X earnings, but growth should be 40%+ this year. It has $3 billion in cash and generates very strong free cash flow. Revenue growth looks good and it has a solid record (7/8) of beating earnings estimates. It looks like chip applications are widening, as NVDA is also showing good growth from the data centre industry. Autonomous cars are another growing market for the company. It pays a small dividend and we think it is very well managed."

I'm having a very difficult time seeing that anything has changed. If anything, NVDA should be on the cusp of something even better, and yet the Citron thesis says "all the easy money has been made." How can this be? If the easy money has been made, that would suggest that NVDA will be grinding to a halt soon, and yet with the ever-increasing demand for all the areas of technology it covers, I'm at a loss on Citron's approach.

Notwithstanding your usual advice that there are always two-sides to a trade, there still has to be someone who is "more right" ... and I think it's you, and the position you offered in July. Is this still worth a 3 year hold ... my ultimate time frame for this particular account.

Thanks as ever. Happy New Year! ... Thanks for another great year of superlative service!!





Read Answer Asked by Sylvia on January 03, 2017
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