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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: Please comment on which REIT provides better value and yield going forward as follows (excluding exchange rate for BPY):
Brookfield Property Partners ($1.06 / $22.95 = 4.62 %)
Boardwalk REIT ($2.06 / $47.10 = 4.33 %)
Canadian Apartment REIT ($1.22 / $26.53 = 4.61 %)
BPY has had a good run in the last 18 months (+40 %) while BEI-UN has declined in the last year due to the oil meltdown. CAR-UN has seen less increase/decrease than BEI-UN.
I have had a good run on BPY-UN and need to trim a little for portfolio management. I am underweight on my allocation for apartment REITs and slightly overweight on office/commercial REITs in my portfolio.

Thanks for the great service.
Read Answer Asked by Stephen on November 23, 2015
Q: Hello Peter
I own Alergan stock and Pfizer & Alergan announced today 160 billion merger

The deal values Allergan at $363.63 per share, about 30% more than its price when reports of a deal first surfaced last month.

Allergan shareholders will get 11.3 shares of the new company for each of their shares. Pfizer shareholders will get one share of the new company’s stock for each of their shares.

After completion of the deal, which must be approved by U.S. and European regulators, Pfizer shareholders would own 56% of the combined company.
My question is what should I do with my shares, sell or wait for closing of the deal and what is good and what is bad in this deal for me as a shareholder.

Regards Andrew B.
Read Answer Asked by Andrzej on November 23, 2015
Q: In response earlier today you indicated insiders own 9%. AGM info and 2014 press releases indicate Oakwest Corportation (Beutel Family Office) owns 29%/31% respectively. Would you view Beutel family involvement as positive, negative or neutral?
Read Answer Asked by John on November 23, 2015
Q: You thoughts on the asset sale to Bell would be appreciated, in particular how this may change free cash flow (and dividend protection) going forward and is this not also setting up the value of the company in the event of a buy-out?

The sale price for Movie Central, Encore and HBO Canada was $211 million. They state that this was derived by taking adjusted 2015 segment EBITDA multiple for Pay TV of 6.7x.

Fiscal 2015 Corus had $260 million of TV segment profit.

Even ignoring the value of the radio stations (let's say that they wash out against 'Corporate' and other costs in the event of a break-up or buy-out), wouldn't this put the value (based on what Bell paid for the above) of the remaining TV component at $1,530 million ($260 million x 6.7 - $211 million), or above $17.50/share? Or am I taking a too simplified view of the break-up value of the assets?
Read Answer Asked by Colin on November 23, 2015
Q: It has been my understanding that the amounts go to insipra through an assignment of receivables. The details and legals I do not know, but it is a little like a factor system.
Read Answer Asked by michael on November 23, 2015
Q: A complimentary article on David Baazov in the Nov. FP Magazine here: http://business.financialpost.com/financial-post-magazine/high-school-dropout-has-turned-amaya-into-a-gaming-and-publicly-traded-powerhouse

I did not know that head office is in the Isle of Man. Does that mean that some or all of the executives work out of there or is it just a shell office?
Read Answer Asked by Jeff on November 23, 2015
Q: I would appreciate your opinion of FAF.us at today's price of $38.19.
Read Answer Asked by Alfred on November 23, 2015
Q: They are offering to swap these share for share in a new entity they are calling Brookfield preferred "Units" as opposed to shares, upping the dividend slightly. Is this a good deal, and more importantly would the "Units" be tradable on the TSX? I am not underwater on these, and I am getting roughly 6% on my original investment, any need to do the trade or will it eventually be mandatory. The language in their prospectus is confusing.
John
Read Answer Asked by John on November 23, 2015
Q: Thinking of doing some bottom fishing here with either Finning or Caterpillar which both are long term performers. Any thoughts on my strategy of picking up some shares on the cheap for a long term hold and would you prefer one company over the other?
Read Answer Asked by John on November 23, 2015
Q: What is the risk/reward profile for MTL?
It has trended down - as expected - ytd to the point where the yield is ~ 7.4%.

I am searching for reliable dividend income stocks with more upside potential than downside risk.

I know that is asking a lot these days but would MTL fit into that niche?


Thanks.
Read Answer Asked by Donald on November 23, 2015
Q: I would appreciate an update on bgm since your May 15th comments.
Thank you,
Bob.
Read Answer Asked by Bob on November 23, 2015
Q: Could you please provide a update and a buy sell or hold many thanks.
Read Answer Asked by dennis on November 23, 2015
Q: May I have your thoughts on the recently announced PGD $7M rights offering announcement. They just raised $15M last October. This one seems rather convoluted. The combined resulting dilution from both rights offering appear excessive.

Thanks Mike
Read Answer Asked by Mike on November 23, 2015
Q: In general what is opinion of this very interesting lithium-ion battery company.
Tnx
Read Answer Asked by Ryczard on November 23, 2015
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