Investment Q&A

Q: What would be a "fair" price to start initiating a position in firstservice?

Q: Any news on FSV which is down 5% today. Downgrade or short attack?

Q: I am reviewing my holdings in Consumer non-cyclicals for my RRSP (balanced approach with 15+ years to convert to RRIF). I am underweight in this sector (4%) divided between CCL.B and FSV which you agreed in a previous Q&A that they can be considered c. non-cyclicals.

I’d like to increase to about 8-10% total by boosting one of the two holdings I already have (which one between CCL.B and FSV would be best at this time?) and/or acquiring one or two additional stocks. Here I think it would be wise to buy more typical c. non-cyclicals like ATD.B + PBH or perhaps simply just XST to get exposure to a basket of food-related stocks at once (primarly ATD.B, L, MRU, SAP). Your observations will be appreciated as always.

Q: I want to re-balance my portfolio across sectors but I found that a few holdings can fit more than one sector for all practical purposes.

CCL.B is classified as materials, but can we also consider it as consumer goods given its labeling and container products directly serve the retail market? If so would that be c. cyclical or non-cyclical?

MG is classified as c. cyclical, but can we also consider it as industrial?

I have a hard time with FSV which is classified as financial, but to me consumer non-cyclical (recurrent residential residential/condo maintenance fees, property services) is a better fit.

Finally, how about MDA? Can it be considered either technology or telecommunications?

Thank you for validating the above, it will be useful to explore my options.

Q: Any reason in particular for the weakness in FSV today or is it just because of light trading volumes?

Q: Comments on earnings

Q: Can you please give me your comments on Firstservice. it seemed like it was expensive, but it looks like earnings were good. Would you add to a position at this time, if it is not a full position/

Q: I have small position on FSV and doing well, It appears to be overvalued. Do you think it is good idea switching to AIF? thanks, Tim

Q: Good afternoon
In 2016 I purchased FSV @ $57. It popped in February and I sold it @ 65 and made $10,000. It just keeps on going but I'm hesitant to get back in because the PE is 65.
Any thoughts?
Thanks

Q: Can you comment on their recent acquisition of California Closets and how quickly this will be accretive to earnings? The market seems to like the purchase but this continues to be a very expensive stock on a PE basis. I show 63X trailing earnings. Is there some other metric I should be using for this stock?

Q: Nice calls on these two...I bot them last week with your research and have now covered my next 10 years worth of subscriptions..Thank you very much..learning more and more with your coverage..

Q: Greetings: since your January report on FSV the company has posted quarterly and full year 2016. The stock responded well. Can you comment on your prior concerns about valuation? They raised dividend, so I assume they are confident in the future. I have owned it since before the spinoff and am up over 100%. My position is still less than 5% because I sold Colliers, which was half of my original position, but I am even more concerned about valuation now since the rise in share price. Should I be? Just wondering if it is time to move on, but reluctant to sell winner. Thanks

Q: I have owned cigi AND FSV through the split. Would you move into aif.No tax worries.

Q: I'm considering purchasing First Services. What do you think?

Q: Can you give me your opinion on this stock

Q: It dropped quite a bit the last few days. Do you think it is a good entry point for RRSP now or is it still too expensive to get in? Thanks.

Q: Could you please comment on today's earnings report and would you consider this to be a good entry point for an RRSP account.

Thanks

Q: I own all three and would like to increase my weightings up to a maximum 3-5% position in each name. What do you guys think of these names currently? Will the recent news about tempur-pedic affect sleep country much?
Good job on bnn Ryan.

Q: I have some cash and would like to add to an existing position. do you think it's too "rich" at this stage and should I wait for a better entry point?

Q: How is it best to determine the valuation for First Service? I am guessing price/cash flow because looking at the P/E, it appears to be extremely expensive. What would be a reasonable P/CF range for this company? What would be a reasonable P/CF range for this sector?

Jim