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The Blue Chip Report for October 2015 was recently updated on the website. This edition contains an article by Tony Demarin that discusses the potential impact of rising short-term interest rates on stock market returns. Todd Johnson has contributed an article that looks back on Canadian equity markets over the past twelve months, focusing on the direct and indirect impacts of falling crude oil prices, and considers some of the opportunities this presents for investors. Ben Kelly and Chris Richard have provided commentary about the Electronic Payments and the Home Improvement sectors of the market and the potential for investment opportunity in these sectors. Mark Lindal contributed an article about UnitedHealth Group Inc., a company in which we recently invested.
The Dividend Growth Story for the quarter ending September 30th 2015 has also been recently updated on the website. This is a quarterly publication that focuses on the companies in which we invest, highlighting the dividends paid by these companies, the dividends that have recently been increased, and the characteristics of the typical portfolios invested in these companies.
Todd Johnson appeared on BNN’s Business Day AM segment on Friday October 30th. In this appearance, Todd commented on the recent earnings announcements from Imperial Oil Ltd. and Suncor Energy Inc. In addition, he also commented on some of the current issues surrounding Valeant Pharmaceuticals International Inc., while touching on the issue of short selling and its impact on this company and the broader market.
Todd Johnson appeared on BNN’s Business Day AM segment on Friday October 2nd. In this appearance, Todd commented on National Bank of Canada’s secondary offering of 300 million dollars of common shares and on the related topics of an 85 million dollar writedown for restructuring costs and a potential for a 165 million dollar writedown of its investment in Maple Financial Group Inc. In addition, Todd spoke about capital ratios and dividend payouts at the large Canadian banks and about whether these banks faced the same challenges that led to National Bank’s restructuring cost writedown.
Todd Johnson also appeared on BNN’s Market Call segment on Tuesday September 22nd. In this extended appearance, Todd provided some general market commentary, responded to questions about specific companies, revisited his Best Picks from his May 2014 appearance, and provided a new set of Best Picks. This hour-long appearance was broken down into eight smaller segments for viewing:
Part One: Market Commentary (Federal Reserve System interest rate decision, Chinese economic slowdown, crude oil prices)
Part Two: Specific Company Commentary (TransCanada Corporation, Canadian Natural Resources Ltd., Potash Corporation of Saskatchewan Inc.)
Part Three: Specific Company Commentary (Element Financial Corporation, Thomson Reuters Corporation, Martinrea International Inc., Cineplex Inc.)
Part Four: Previous Best Picks (Bank of New York Mellon Corporation, Bombardier Inc. 7.35% 2026 bond, Canadian Western Bank)
Part Five: Specific Company Commentary (Magna International Inc., SNC-Lavalin Group Inc., Western Forest Products Inc., Lundin Mining Corporation, Teck Resources Ltd.)
Part Six: Specific Company Commentary (Granite Real Estate Investment Trust, Baytex Energy Corporation, Cameco Corporation)
Part Seven: Specific Company Commentary (Canadian banks, WSP Global Inc., TELUS Corporation, Manitoba Telecom Services Inc.)
Part Eight: Updated Best Picks (Callidus Capital Corporation, National Bank of Canada, Brookfield Property Partners LP)
BNN’s Market Call segment is a call-in show that is designed to allow viewers to pose questions about companies that are of interest to them. Some of the companies that have been mentioned by callers are not companies in which BCV Asset Management has invested in at this time or are not companies in which we would typically invest.
Tony Demarin appeared on BNN’s Business Day AM segment on Friday September 18th. In this appearance, Tony commented on the previous day’s decision by the Federal Reserve System in the United States to not raise short-term interest rates. He also commented on the impact of this decision on the banking and insurance sectors in Canada and provided comments on a number of telecommunications, energy and technology companies. This segment also included remarks about UnitedHealth Group Inc. and Starbucks Corporations, two companies that have recently been added to certain investor portfolios.