How To Invest
In addition, Pat thinks then beginner investors should cultivate two important qualities: a healthy sense of skepticism and patience.
Investors should approach all investments with a healthy sense of skepticism. This can help keep you out of fraudulent stocks that masquerade as high-quality stocks. It will also keep you out of legally operated, but poorly managed, companies that promise more than they can possibly deliver.
If you are a new investor, you should also realize that losing patience can cause you to sell your best choices right before a big rise. All too often, investors buy a promising stock just as it enters a period of price stagnation. Even the best-performing stocks run into these unpredictable phases from time to time. They move mainly sideways in a wide range for months or years before their next big rise begins. (Stock brokers often refer to these stocks as “dead money.”)
If you lack patience, you run a big risk of selling your best choices in the midst of one of these phases, prior to the next big move upward. If you lose patience and sell, you are particularly likely to do so in the low end of the trading range, when stock prices have weakened and confidence in the stock has waned.
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CENOVUS ENERGY $30.90 (Toronto symbol CVE; Shares outstanding: 755.0 million; Market cap: $23.3 billion; TSINetwork Rating: Average; Dividend yield: 3.1%; www.cenovus.com) has three heavy oil projects in Alberta and one in Saskatchewan. The oil sands supply about half of its output. The other half is conventional oil and gas.
U.S.-based ConocoPhillips (New York symbol COP) owns 50% of Cenovus’s main Foster Creek and Christina Lake oil sands projects. Cenovus ships the heavy bitumen from these assets to refineries in Illinois and Texas, which are also 50% owned by ConocoPhillips.
In the quarter ended December 31, 2012, cash flow per share fell 17.8%, to $0.92 from $1.12 a year earlier. Expansion pushed up oil output by 23.1%, to 177,646 barrels a day from 144,273, but that was offset by lower prices. Cenovus aims to boost its production to 500,000 barrels a day by 2021.
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U.S.-based ConocoPhillips (New York symbol COP) owns 50% of Cenovus’s main Foster Creek and Christina Lake oil sands projects. Cenovus ships the heavy bitumen from these assets to refineries in Illinois and Texas, which are also 50% owned by ConocoPhillips.
In the quarter ended December 31, 2012, cash flow per share fell 17.8%, to $0.92 from $1.12 a year earlier. Expansion pushed up oil output by 23.1%, to 177,646 barrels a day from 144,273, but that was offset by lower prices. Cenovus aims to boost its production to 500,000 barrels a day by 2021.
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RUSSEL METALS (Toronto symbol RUS; www.russelmetals.com) is one of North America’s largest metal distributors. It serves its 39,000 clients through 54 locations in Canada and 12 in the U.S. In the three months ended December 31, 2012, Russel’s revenue rose 7.6%, to $765.9 million from $711.6 million a year earlier....
Pat McKeough responds to many requests for stock market advice and other questions on investment and the economy from the members of his Inner Circle. Every week, his comments and recommendations on the most intriguing questions of the past week go out to all Inner Circle members. And each week, we offer you one of the highlights from these Q&A sessions. While we reserve our buy-hold-sell advice for Inner Circle members, these excerpts provide a great deal of information and analysis on stocks we’ve covered for members of Pat’s Inner Circle. This week, an Inner Circle member asked us a question about a stock whose prospects depend on the continued growth of 3D printing. Pat looks at the company’s attempts to spur further growth by aggressively promoting the sale of 3D home printers and by convincing industrial clients to adopt 3D printing. ...
MAPLE LEAF FOODS INC. (Toronto symbol MFI; www.mapleleaf.ca) is Canada’s largest food processing company. It mainly sells its products, which include fresh and prepared meats and poultry, under the Maple Leaf and Schneider brands. Through 90.0%-owned Canada Bread, the company also makes fresh and frozen bread, pastries and pasta. Maple Leaf is starting to see the benefits of a major restructuring plan, which includes building new plants and eliminating unprofitable products. It’s also installing a new computer system that will give its managers more timely information....
Pat McKeough responds to many personal questions on investing in stocks and other questions on investment and the economy from the members of his Inner Circle. Every week, his comments and recommendations on the most intriguing questions of the past week go out to all Inner Circle members. And each week, we offer you one of the highlights from these Q&A sessions. While we reserve our buy-hold-sell advice for Inner Circle members, these excerpts provide a great deal of information and analysis on stocks we’ve covered for members of Pat’s Inner Circle. In the past week, we had a question from an Inner Circle member on a company that makes metal products, chiefly for transportation. Trinity Industries relies heavily on shipments of industrial products and natural resources, and Pat looks at whether it can continue to push up its revenue and profits in a sluggish economy. ...
SNC-LAVALIN GROUP INC. (Toronto symbol SNC; www.snclavalin.com) has held up well in the face of negative press coverage, beginning with $56 million U.S. in unusual payments it made in 2011 to help win Libyan construction contracts. Lately, the company has come under scrutiny over allegations of widespread corruption in the Quebec construction industry. SNC’s quick response to these situations, including replacing its chief executive officer and other executives, helped prevent permanent damage to its 102-year-old reputation. It has also brought in stronger oversight and compliance procedures....
Pat McKeough responds to many personal questions for stock investing advice and to other questions on investment and the economy from the members of his Inner Circle. Every week, his comments and recommendations on the most intriguing questions of the past week go out to all Inner Circle members. And each week, we offer you one of the highlights from these Q&A sessions. While we reserve our buy-hold-sell advice for Inner Circle members, these excerpts provide a great deal of information and analysis on stocks we’ve covered for members of Pat’s Inner Circle....
Every Wednesday, we publish our “Investor Toolkit” series on TSI Network. Whether you’re a beginning or experienced investor, these weekly updates are designed to give you specific investment advice. Each Investor Toolkit update gives you a fundamental piece of investing strategy, and shows you how you can put it into practice right away....
Pat McKeough responds to many personal questions about stock market investments and other topics on investment and the economy from the members of his Inner Circle. Every week, his comments and recommendations on the most intriguing questions of the past week go out to all Inner Circle members. And each week, we offer you one of the highlights from these Q&A sessions. While we reserve our buy-hold-sell advice for Inner Circle members, these excerpts provide a great deal of information and analysis on stocks we’ve covered for members of Pat’s Inner Circle. This week, we had a question from an Inner Circle member on one of the world’s best known companies, Johnson & Johnson. The company continues to grow, acquiring a Swiss medical device maker in the past year, and it is working on new treatments to strengthen its drug pipeline. Pat takes a detailed look at the company’s financial strength and assesses its prospects for growth in the coming year. ...
Heavy equipment distributor Toromont Industries Ltd. completed the spinoff of its natural gas equipment division, Enerflex Ltd., in July 2011. Shareholders received shares of the new Toromont and shares of Enerflex. Here is our latest report on these two Canadian stocks which we follow in our advisory for more aggressive investing, Stock Pickers Digest....
