What did you Buy? What might you buy? (2017)

Discuss your favourite picks, broker, and trading or investment style.
Thegipper
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Re: What did you Buy? What might you buy? (2017)

Post by Thegipper » 05 Nov 2017 14:21

ig17 wrote:
05 Nov 2017 13:39
Sorry TheGipper, that was my lame attempt at a joke. I apologize if my comment rubbed you the wrong way.

210K is a great result.
no big deal . I always appreciate your thoughts.

westcoastfella
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Re: What did you Buy? What might you buy? (2017)

Post by westcoastfella » 05 Nov 2017 17:14

Initiated a position in Texas Instruments (TXN) in my RRSP. Purchased using funds from GE sale.

Reasons:
- I wanted to have some technology exposure (had 0 before this purchase, and have not had any for the past year)
- In this sector I prefer to hold companies on the hardware/infrastructure side vs the pure software side. I have previously held Cisco and Qualcomm, TXN is similarly focused. Products they produce (semiconductors) are widely used and indispensable. Application and need for semiconductors will grow over time.
- good fundamentals - reasonable P/E for the sector, growing income with strong growth projected, very good margins, above average dividend (for the sector) and <50% payout so room for growth. They recently raised their dividend 24%
- strong analyst coverage, with general BUY rating (FWIW)

I have started with a smallish position, but will likely grow it shortly.

jay
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Re: What did you Buy? What might you buy? (2017)

Post by jay » 06 Nov 2017 13:26

ockham wrote:
16 Oct 2017 12:57
From the proceeds of my sale of IMO, I added to an existing position in MolsonCoors (TPX.B) and an existing position in VCN. TPX.B has pulled back about 25% from an earlier high. VCN, well, I couldn't think of anything else productive to do.
Ockham, are you familiar with Molson? is the drop mainly due to high debt levels and an anticipated dividend cut?

ockham
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Re: What did you Buy? What might you buy? (2017)

Post by ockham » 07 Nov 2017 00:22

jay wrote:
06 Nov 2017 13:26
ockham wrote:
16 Oct 2017 12:57
From the proceeds of my sale of IMO, I added to an existing position in MolsonCoors (TPX.B) and an existing position in VCN. TPX.B has pulled back about 25% from an earlier high. VCN, well, I couldn't think of anything else productive to do.
Ockham, are you familiar with Molson? is the drop mainly due to high debt levels and an anticipated dividend cut?
Jay, I opened my TPX.B position in Nov '12 @ $40 and change. I'd been looking for an opportunity to add, and finally did, as noted above. It's raised its divvy twice in the five years I've owned it.

Judging by the posts here, I don't do anything like the kind of serious security analysis you undertake. I bought Molson because (i) I was looking for something in the consumer space that wasn't a grocery or clothing retailer, and (ii) Molson was a recommendation (and still is) of Pat McKeough at The Successful Investor. McKeough thinks the divvy is safe and Molson is making steady, predictable progress in paying down its debt. I have no theory on the recent price drop from $140 to $100 just as I had no theory on the price rise from $40 to $140. Molson acquired 100% of MillerCoors in October 2016, up from 42%. Its a good guess -- but only a guess -- that the debt it incurred in making that acquisition has had some bearing on its stock price in the last year.

My underlying idea was and is that there's steady money to be made on beer sales. :beer:

jay
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Re: What did you Buy? What might you buy? (2017)

Post by jay » 07 Nov 2017 10:09

Bought Alaris (TSE:AD) at $18.5 in my TFSA for a trade. Stock has already been beaten down so my guess is that the selling was overdone. Like my other trades, I use a tight stop.

I also completed buying 100 XIU 2017DEC15 18.00 PUTs for $0.01. Cheap insurance against a black swan event during the next 2 months. I plan to roll those on a monthly basis going forward.

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Re: What did you Buy? What might you buy? (2017)

Post by jay » 07 Nov 2017 14:33

ockham wrote:
07 Nov 2017 00:22
jay wrote:
06 Nov 2017 13:26
ockham wrote:
16 Oct 2017 12:57
From the proceeds of my sale of IMO, I added to an existing position in MolsonCoors (TPX.B) and an existing position in VCN. TPX.B has pulled back about 25% from an earlier high. VCN, well, I couldn't think of anything else productive to do.
Ockham, are you familiar with Molson? is the drop mainly due to high debt levels and an anticipated dividend cut?
Jay, I opened my TPX.B position in Nov '12 @ $40 and change. I'd been looking for an opportunity to add, and finally did, as noted above. It's raised its divvy twice in the five years I've owned it.

Judging by the posts here, I don't do anything like the kind of serious security analysis you undertake. I bought Molson because (i) I was looking for something in the consumer space that wasn't a grocery or clothing retailer, and (ii) Molson was a recommendation (and still is) of Pat McKeough at The Successful Investor. McKeough thinks the divvy is safe and Molson is making steady, predictable progress in paying down its debt. I have no theory on the recent price drop from $140 to $100 just as I had no theory on the price rise from $40 to $140. Molson acquired 100% of MillerCoors in October 2016, up from 42%. Its a good guess -- but only a guess -- that the debt it incurred in making that acquisition has had some bearing on its stock price in the last year.

My underlying idea was and is that there's steady money to be made on beer sales. :beer:
Thx Ockham. It is now on my watchlist. It is that time of the year when already beaten down stocks may get even more beaten down on tax loss selling...

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Re: What did you Buy? What might you buy? (2017)

Post by shellybear » 08 Nov 2017 12:53

Bought T.SVM , Silvercorp Metals this morning ahead of earnings announcement tonight.
They sport one of the lowest P/E ratios of the precious metals producers and pays a small dividend ( .01 US per share semiannually). Trading in the 3.30 range cad , near a 52 week low today.
They are operating in CHina and that scares a lot of folks out of this play, and is the main reason for the low valuation.
They have no debt and have cash in the bank. In July they bought 25 million shares of NUAG, ( New Pacific Metals Corp) in the private placement at .80
It is now trading at 1.48... that is a gain of 17 million $ in a few short months.
Nearly half of their revenue comes from zinc and lead byproduct sales, which almost equal the revenue from silver. They also have some minor gold production.
This last Q should look real good on paper with the gain on NUAG shares and the increase in sales $ from the base metals , as spot zinc and lead prices have jumped up another 10% or so in the last Q. And compared to a year ago, those spot prices have increased , zinc about 35 % or so, and lead about 15%.

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Re: What did you Buy? What might you buy? (2017)

Post by schmuck » 09 Nov 2017 16:39

Bought a bunch of ETFs today in our RIF accounts: VT, VGT, XLF, and DJX (Wisdom Tree Japan). Had Been sitting on a lot of US cash in US Money Market. Missed the opportunity to deploy it in October, but pulled the trigger today after a couple of up days in the Cdn$ and the selloff in the US today. Hope I'm not too late and that Trump's tax bill will go through.

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Re: What did you Buy? What might you buy? (2017)

Post by Londoncalling » 09 Nov 2017 21:33

Initiated a position in ENB today. Currently overweight in IPL but wanted to add to pipelines and this one has a long history of dividend increases. I understand they have released guidance reducing the amount being increased in the future but I plan to hold for the long term. May add some more to bring to a full allocation before the end of the year.

Cheers

jay
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Re: What did you Buy? What might you buy? (2017)

Post by jay » 10 Nov 2017 11:35

Just bought Ritchie Brothers (TSE:RBM) at $31.85/share. Stock is down 11% today due to missing earnings. Playing this for a trade one more time in my TFSA. Stock was already down 20% YTD (now 30%) so my thesis is that the bad earnings should be factored in pretty much., but who knows? Tight stop (5%) as usual.

JaydoubleU
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Re: What did you Buy? What might you buy? (2017)

Post by JaydoubleU » 10 Nov 2017 12:45

I understand they have released guidance reducing the amount being increased in the future but I plan to hold for the long term.
I didn't see any comment about a reduction in dividend growth. My understanding was that ENB sold off because they did not reiterate the 10-12% target to 2024 guidance. IOW, it was what was NOT said that rattled markets. Please correct me if I'm wrong.

Edited to add: this article by John Heinzl gets to the heart of it: file:///C:/Users/Owner/Downloads/Why-analysts-are-still-bullish-on-Enbridge-November-7-2017-Veritas.pdf

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Re: What did you Buy? What might you buy? (2017)

Post by JaydoubleU » 10 Nov 2017 14:40

I was inspired by this thread to go over ENB reports and numbers. More significantly, the cold day in Ottawa had me turning the heat up, and the heat being provided by Enbridge, I decided to top up my position with 100 shares very close to a 52-week low.

I think it would be a good thing for ENB to reduce that dividend growth target a little and divert some cash flow towards debt reduction. If that's the plan, I'm all for it. ENB will still be a dividend growth machine.

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Re: What did you Buy? What might you buy? (2017)

Post by Shakespeare » 10 Nov 2017 14:51

I expect they will identify something as 'non-core' and sell it.
“A wise man should be prepared to abandon his baggage at any time.” -- R.A. Heinlein, The Door Into Summer.

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Re: What did you Buy? What might you buy? (2017)

Post by Spidey » 10 Nov 2017 15:54

Bought some ENB today @$46.33. 5.2% dividend seems pretty good.
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Re: What did you Buy? What might you buy? (2017)

Post by ModeratorW » 11 Nov 2017 13:59

Per member comment elsewhere, it is best further ENB discussion be in the ENB thread. Some posts have been moved.

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Re: What did you Buy? What might you buy? (2017)

Post by AltaRed » 13 Nov 2017 11:50

I was contemplating buying some ITP on Friday when it drifted down to $17.50 pending 3Q earnings release early this morning. Shoulda/coulda given 3Q turned out better than the market was anticipating and it opened at $18.50 and shot up to over $20 early in trading this morning. Coulda made $2/share doing that. One of those paper exercises though since I don't play those kinds of lottery games in the market.
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Re: What did you Buy? What might you buy? (2017)

Post by scomac » 13 Nov 2017 13:46

AltaRed wrote:
13 Nov 2017 11:50
I was contemplating buying some ITP on Friday when it drifted down to $17.50 pending 3Q earnings release early this morning. Shoulda/coulda given 3Q turned out better than the market was anticipating and it opened at $18.50 and shot up to over $20 early in trading this morning. Coulda made $2/share doing that. One of those paper exercises though since I don't play those kinds of lottery games in the market.
The good news is that when things settle you can get in with reasonable assurance that the stock has bottomed. I was also watching it as it is my smallest position and was begging for me to do something about it; either add or sell. I feel better about adding at this point, but may just do nothing to see how it trades through tax loss selling season.
"On what principle is it, that when we see nothing but improvement behind us, we are to expect nothing but deterioration before us?"
Thomas Babington Macaulay in 1830

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Re: What did you Buy? What might you buy? (2017)

Post by AltaRed » 13 Nov 2017 13:47

My smallest position too. Will continue to watch through the next 3-4 weeks.
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jay
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Re: What did you Buy? What might you buy? (2017)

Post by jay » 14 Nov 2017 10:53

AltaRed wrote:
13 Nov 2017 13:47
My smallest position too. Will continue to watch through the next 3-4 weeks.
Same here. I started a half position at $18.5 and I was hoping it would drop to the 16's before averaging down. Oh well ...

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Re: What did you Buy? What might you buy? (2017)

Post by schmuck » 14 Nov 2017 19:46

Couldn't resist buying back the 100 PBH shares in my daughters RRSP account at $93.30 which we had trimmed just shy of the $103 mark a month ago. Instead of pulling back over a few days, it seems like any quarterly misses have been getting severely punished immediately, and recover sooner than expected. PBH remains a core holding in other family accounts, and I hope it makes up for a couple of other ones I recently missed out on.

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Re: What did you Buy? What might you buy? (2017)

Post by AltaRed » 14 Nov 2017 19:55

schmuck wrote:
14 Nov 2017 19:46
Couldn't resist buying back the 100 PBH shares in my daughters RRSP account at $93.30 which we had trimmed just shy of the $103 mark a month ago. Instead of pulling back over a few days, it seems like any quarterly misses have been getting severely punished immediately, and recover sooner than expected. PBH remains a core holding in other family accounts, and I hope it makes up for a couple of other ones I recently missed out on.
I don't know about "any" but stocks that have high valuations will (and should) get 'whack-a-moled' since they are priced for continued steep trajectories to begin with. PBH is a good example.
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Re: What did you Buy? What might you buy? (2017)

Post by AltaRed » 15 Nov 2017 10:34

A bit more context on GE's challenge. http://money.cnn.com/2017/11/14/investi ... index.html
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Re: What did you Buy? What might you buy? (2017)

Post by schmuck » 15 Nov 2017 11:01

AltaRed wrote:
14 Nov 2017 19:55
schmuck wrote:
14 Nov 2017 19:46
Couldn't resist buying back the 100 PBH shares in my daughters RRSP account at $93.30 which we had trimmed just shy of the $103 mark a month ago. Instead of pulling back over a few days, it seems like any quarterly misses have been getting severely punished immediately, and recover sooner than expected. PBH remains a core holding in other family accounts, and I hope it makes up for a couple of other ones I recently missed out on.
I don't know about "any" but stocks that have high valuations will (and should) get 'whack-a-moled' since they are priced for continued steep trajectories to begin with. PBH is a good example.
You're right of course, "any" may not have been the best choice of words, and PBH has not looked cheap for the last few years. But that is often the case with such stocks that grow by acquisition. I guess it comes down to the old argument of trying to hang onto your winners. It has had these hiccups before and will likely have them again, and I will be tempted to trim it at nosebleed levels in the future and to buy it back on dips.
So far so good.
Last edited by schmuck on 15 Nov 2017 11:06, edited 1 time in total.

jay
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Re: What did you Buy? What might you buy? (2017)

Post by jay » 15 Nov 2017 11:03

schmuck wrote:
14 Nov 2017 19:46
Couldn't resist buying back the 100 PBH shares in my daughters RRSP account at $93.30 which we had trimmed just shy of the $103 mark a month ago. Instead of pulling back over a few days, it seems like any quarterly misses have been getting severely punished immediately, and recover sooner than expected. PBH remains a core holding in other family accounts, and I hope it makes up for a couple of other ones I recently missed out on.
Good call! always nice to see a pop right after buying.

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Re: What did you Buy? What might you buy? (2017)

Post by Dudsy » 15 Nov 2017 15:38

jay wrote:
15 Nov 2017 11:03
schmuck wrote:
14 Nov 2017 19:46
Couldn't resist buying back the 100 PBH shares in my daughters RRSP account at $93.30 which we had trimmed just shy of the $103 mark a month ago. Instead of pulling back over a few days, it seems like any quarterly misses have been getting severely punished immediately, and recover sooner than expected. PBH remains a core holding in other family accounts, and I hope it makes up for a couple of other ones I recently missed out on.
Good call! always nice to see a pop right after buying.
Also kudos on the call. I don't own but been watching PBH for way too long hoping for a pullback. I thought there would be further weakness and that would be my entry point. :oops:

These 'expensive' stocks are expensive for a reason. Savaria (SIS) also trades at a big multiple but they just announced revenue guidance for next year at +40%.

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