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

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

Post by Descartes »

I don't know if ITP has a moat: maybe you've heard about this little company called 3M? ;)
This was on my watchlist but I don't like earnings misses or reductions in guidance. Underestimating is good. Overestimating is a yellow card offense.
I don't need to take risks like this just to possibly pick up a little updraft.
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Re: What did you Buy? What might you buy? (2017)

Post by AltaRed »

FWIW, I have owned 3M a long time. It'r really a conglomerate but yes, if it really wanted too, it could squeeze any of its fringe competitors out of business. But that doesn't happen simply because 3M has bigger fish to fry.

Edited: I agree an overestimation/earnings miss is a yellow flag but is that systemic? Or a one quarter reset? I feel the underlying business is sound but time will tell. In the meantime, I will collect 3.8%.
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Re: What did you Buy? What might you buy? (2017)

Post by scomac »

AltaRed wrote: 26 Sep 2017 10:02 FWIW, I have owned 3M a long time. It'r really a conglomerate but yes, if it really wanted too, it could squeeze any of its fringe competitors out of business. But that doesn't happen simply because 3M has bigger fish to fry.

Edited: I agree an overestimation/earnings miss is a yellow flag but is that systemic? Or a one quarter reset? I feel the underlying business is sound but time will tell. In the meantime, I will collect 3.8%.

I bought ITP 3 years ago at lower prices. I'm not worried. There's no point in worrying about systemic problems until they become systemic problems, after all it is a cyclical business.

Over the years I have tried to be smart and trade in and out of positions in anticipation of good/bad things happening. I was never very successful at that. About all I accomplished was triggering a capital gain! Perhaps this is why we are all best served by buying the market and just holding it.

I was visiting a friend this morning. When I walked into her house I was greeted by the drone of the talking heads on BNN. Some things never change, I said as she has always been an addict of business TV. She asked if I was still in the market? I replied that I never leave. You're more courageous than me was her response. Yabbut, I said; I don't watch this stuff because it would just drive me mad!
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Re: What did you Buy? What might you buy? (2017)

Post by jay »

jay wrote: 08 Aug 2017 15:39 Betting on volatility: bought some TVIX, 2x the volatility index (VIX) at $15.67 this morning. Last time I did thing I was very lucky and made ~40% in a short few days. Risking $4,000 USD on this trade and will likely only hold for a few days regardless whether I gain or lose.
Time for some insurance against what seems like a very complacent US market. Just bought $5,000 worth of TVIX at $12/share. Last two times were very successful.
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Re: What did you Buy? What might you buy? (2017)

Post by brad911 »

Finished adding to my overweight position in StellaJ (SJ-T) this morning along with exiting GWO.PR.N now that its ex-dividend for a nice gain.
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Re: What did you Buy? What might you buy? (2017)

Post by SkaSka »

I've been buying Alphabet (GOOG), Berkshire Hathaway (BRK.B), and Disney (DIS) over the past month in the price range they've been bouncing around in during that time.

In my opinion, they seem fairly priced and I don't mind adding more shares of excellent businesses.
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Re: What did you Buy? What might you buy? (2017)

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Roughly doubled down on National Grid (NGG:US) @63.05 which is a UK utility.
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Re: What did you Buy? What might you buy? (2017)

Post by jay »

Doubled down on High Liner Foods (TSE:HLF) at $14.3 and it now makes 1% of my dividend portfolio. I had started a half position recently and wanted to see signs of reversal before I complete my position. My ACB is now $14. Now I wait.
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Re: What did you Buy? What might you buy? (2017)

Post by Spudd »

CFF - Conifex Timber
HWO - High Arctic Energy

Bought both of the above based on low P/B & P/S ratios and overall earnings look good.

I also have a bid in on HPS.A for the same reasons but it's going to the moon today it seems, so I might not get it. My bid is good till the end of the month so hopefully it'll come back down at some point. (although, I already own some, so mixed feelings about that, haha)
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Re: What did you Buy? What might you buy? (2017)

Post by Descartes »

I now have a quarter position in BPY.UN which is Brookfield's real estate arm.
They are global with holdings in Europe, US, Australia ..etc.
They have a stated goal of 5-8% annual distribution growth and a payout target of 80% of CFFO and they pay in USD.
Trading at around 20%+ discount to NAV.
They've been affected by Brexit and interest rate fears recently.

I like Brookfield management and wanted more exposure to real estate since I only had a position in CAR.UN remaining after some recent selling.
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Re: What did you Buy? What might you buy? (2017)

Post by AltaRed »

IIRC the Brookfield companies pay dividends/distributions in USD but the transfer agent converts USD to CAD for Canadian owners. If correct, do you keep the asset on the USD or CAD side of your portfolio? Is their forex leakage and if so, where?
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Descartes
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Re: What did you Buy? What might you buy? (2017)

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AltaRed wrote: 03 Oct 2017 11:45 IIRC the Brookfield companies pay dividends/distributions in USD but the transfer agent converts USD to CAD for Canadian owners. If correct, do you keep the asset on the USD or CAD side of your portfolio? Is their forex leakage and if so, where?
The asset is on the CAD side.
The value for me in USD distributions is that they offer some potential upside, in my mind, against a weak/weakening CAD.
In other words, I have more faith in the strength of the USD than our own.

If we look at BIP.UN, for example, which paid out to me on September 29th when the exchange rate was $1.24656:
I received the equivalent of $1.2343 for a perceived "leakage" of $0.01226.

I'm not clear, however, if this represents a true leakage or if the calculation of rate is based on some sort of averaging over the last quarter.
To be honest, I never bothered looking into how the exchange rate is calculated in paying out the Brookfield distributions into CAD. :oops:
Last edited by Descartes on 03 Oct 2017 12:33, edited 1 time in total.
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Re: What did you Buy? What might you buy? (2017)

Post by bindexit »

Recent purchases:

(TSE:GMP) GMP Capital $2.50 range
I previously held, and sold out $5; Reasons now= low p/b, p/s per google screener; Copy catting (recent BNN guest Top Pick=a much smarter investor than me); CanadianInsider.com shows = Redemption, retraction, cancellation, repurchase -449,700. I get dyslexic or something on this website for transactions. I can never figure how to tell on this site if the company is buying back shares (like under NCIB) or selling them? I'll assume it is buying.

(TSE:ACO.X) ATCO Ltd. $46 range
re: wanted Canadian western company in utility/electricity/natural gas; Copy catting (based on another BNN guest comment made in 2013). It always seems expensive to me but took the plunge.

Other than that, I still think markets are expensive and withholding purchases...inflation is making me miss the boat?
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Re: What did you Buy? What might you buy? (2017)

Post by AltaRed »

Descartes wrote: 03 Oct 2017 12:18 I'm not clear, however, if this represents a true leakage or if the calculation of rate is based on some sort of averaging over the last quarter.
To be honest, I never bothered looking into how the exchange rate is calculated in paying out the Brookfield distributions into CAD. :oops:
I imagine the conversion in Brookfield's case was made based on the forex rate on 'paid' date....could be BoC Noon or Close or some wholesale rate. I think transfer agents do not take a commission but if the conversion was done by the brokerage (as it would be in some CAD stocks paying in USD), they might charge a forex commission. Regardless. this discussion is best held in a more appropriate thread.
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Re: What did you Buy? What might you buy? (2017)

Post by AltaRed »

jay wrote: 02 Oct 2017 10:33 Doubled down on High Liner Foods (TSE:HLF) at $14.3 and it now makes 1% of my dividend portfolio. I had started a half position recently and wanted to see signs of reversal before I complete my position. My ACB is now $14. Now I wait.
This is on the upswing since you bought....but are you not worried about what might happen if Trump/Congress tears up NAFTA and applies duties? Or do you know if their exports would still be exempt from duties under the old FTA? I've been avoiding most Cdn stocks that have major exports to the USA...and those which would have severe disruption like Magma, Linamar, etc.
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Re: What did you Buy? What might you buy? (2017)

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AltaRed wrote: 03 Oct 2017 11:45 IIRC the Brookfield companies pay dividends/distributions in USD but the transfer agent converts USD to CAD for Canadian owners. If correct, do you keep the asset on the USD or CAD side of your portfolio? Is their forex leakage and if so, where?
I own both BEP and BPY at TDDI, in RRSP & TFSA accounts.
Bought as ***.UN on the CA market, journalled to the US side. Divs/dists/int arrive in US$ and stay that way. One is DRiPped, and retains US$ status throughout.
Both prospectuses state that owners can request of their broker that the divs/dists/int be paid in C$ if held in a CA account. TDDI doesn't/won't/can't do that.
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Re: What did you Buy? What might you buy? (2017)

Post by scomac »

Descartes wrote: 03 Oct 2017 11:40 I now have a quarter position in BPY.UN which is Brookfield's real estate arm.
They are global with holdings in Europe, US, Australia ..etc.
They have a stated goal of 5-8% annual distribution growth and a payout target of 80% of CFFO and they pay in USD.
Trading at around 20%+ discount to NAV.
They've been affected by Brexit and interest rate fears recently.

I like Brookfield management and wanted more exposure to real estate since I only had a position in CAR.UN remaining after some recent selling.
I like what you've done so well that I decided to copy you! The main difference for me being that I am holding BPY on the USD side of my account as that is where I found the available cash. It's also a full position so that maybe a bit of an impulse, but I didn't see much point in dancing around the issue because either I'm in or I'm not.

I used to own this for quite some time in its predecessor form as BPO. I got out when all the restructuring was happening and the unit trust was created. I got back into BPY some time later, but my timing was bad so exited for another opportunity. FWIW I always like to revisit a stock that I got wrong and attempt to make my money back when the situation is more favourable. It works out more often than not, so you can call this another kick at that can.
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Re: What did you Buy? What might you buy? (2017)

Post by jay »

Keeping an eye on Cameco (TSE:CCO). Stock is down 9% today on Scotia downgrade news . there is also tons of option activity as well.

Disclosure: I own a full position which is down significantly and I swore not to average down, but I might re-consider. I have seen downgrades nicely aligned with reversals in the past.
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Re: What did you Buy? What might you buy? (2017)

Post by Dudsy »

Descartes wrote: 03 Oct 2017 11:40 I now have a quarter position in BPY.UN which is Brookfield's real estate arm.
Good timing!
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Re: What did you Buy? What might you buy? (2017)

Post by Descartes »

Dudsy wrote: 05 Oct 2017 13:31
Descartes wrote: 03 Oct 2017 11:40 I now have a quarter position in BPY.UN which is Brookfield's real estate arm.
Good timing!
If I took credit for good timing then I'd have to take the blame for bad timing.
To be honest, I haven't a clue what is going to happen from one day to the next.
I try to focus on the long-run. In the long-run (multiple years), it seemed and seems like a good company to hold.
Patience is a virtue.
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Re: What did you Buy? What might you buy? (2017)

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Descartes wrote: 05 Oct 2017 17:13
Dudsy wrote: 05 Oct 2017 13:31
Descartes wrote: 03 Oct 2017 11:40 I now have a quarter position in BPY.UN which is Brookfield's real estate arm.
Good timing!
If I took credit for good timing then I'd have to take the blame for bad timing.
To be honest, I haven't a clue what is going to happen from one day to the next.
I try to focus on the long-run. In the long-run (multiple years), it seemed and seems like a good company to hold.
Patience is a virtue.
Don't get me wrong, I wasn't attributing skill to luck.

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

Post by Descartes »

Dudsy wrote: 06 Oct 2017 13:40 Don't get me wrong, I wasn't attributing skill to luck.

"Your never as smart as people think you are when you succeed... and never as dumb when you fail"
Mea culpa ;)
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Re: What did you Buy? What might you buy? (2017)

Post by beachcomber »

Over the past several weeks have purchased FTS, TD, VFV and VGG through Qtrade. All are doing well. Have lowball bids in for VXC and CNR. CNR on the theory that North American oil has to be moved somehow, and I've heard that Warren and Charlie are building and leasing oil tanker cars to the railways as fast as they can!
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Re: What did you Buy? What might you buy? (2017)

Post by CROCKD »

On the theory that there are no dumb questions, what does a trade of a quarter or half position mean? :?
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Re: What did you Buy? What might you buy? (2017)

Post by beachcomber »

My understanding is that a quarter position equals 25% of your portfolio. Not certain whether it relates only to one's stock/etf holdings - or your entire investment portfolio. Cheers.
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