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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: Hi guys.

Any idea why, despite growing their earnings through 2014 and 2015, Callidus Capital's (CBL) share price has declined so dramatically in 2015?

Also, do you have an opinion why the market is giving CBL such a low multiple? Alaris Royalty (AD) is still dealing with its troubled investments and is trading at a 13.41 2017 estimated eps multiple. In contrast, CBL trades at a 2017 estimated earnings p/e of 9.77. Why has Alaris, historically, been given such a higher multiple than Callidus?

Thanks, as always.

John
Read Answer Asked by john on February 22, 2017
Q: Hello,
Any reason the stock has been so weak lately ? Thank you.
Read Answer Asked by Pierre on February 22, 2017
Q: Athabasca Notes are due Nov.19, 2017, which could be option no. three (3). Also, which tender offer is BEST one or two?
Option 1:To receive the total consideration of $1,004.25 CAD, which includes an early tender payment of $30.00 CAD,for each $1,000.00 CAD principal amount of Athabasca Oil Corp. 7.50% Senior Secured Second Lien Notes due Nov. 19, 2017 tendered.
Option 2: To receive the tender offer consideration of $974.25 CAD for each $1000.00 CAD principal amount of Athabasca Oil Corp. 7.50% Senior Secured Second Lienh Notes due Nov.19,2017 tendered. Again, which option is the best and why?
Read Answer Asked by Herbert on February 22, 2017
Q: Just read the answer to the Nov 2017 notes offering. Just want to make sure I'm doing the math correctly. I read they are paying 1004.25/1000 which is only 100.425/100, so basically no premium. If I hold to maturity in 9 months it's 7.5% - 0.425 = 7.06% return. If I tender the offer it's 3 months interest of about 1.88% + 0.425 = 2.3% + interest made on a new investment. I would need to make 4.76% in 9 months (so a bond paying 6.3% annualy) to break even. I understand the risk and that the fixed income part is supposed to be the safe part of the portfolio, but is it really that big of a risk that Athabasca Oil will be bankrupt in 9 months and not be able to pay the principal back?
Read Answer Asked by Ian on February 22, 2017
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