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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Promoting clean, environmentally sound solutions for office design, DIRTT has a respected CEO but may struggle against strong competition.
Transcontinental’s ability to keep the right assets in the fast-changing publishing industry makes it one of our top stocks to buy.
TORSTAR $7.44 (Toronto symbol TS.B; Shares outstanding: 79.9 million; Market cap: $600.5 million; TSINetwork Rating: Average; Dividend yield: 7.1%; www.torstar.com) gets 60% of its revenue from advertising on its newspapers and their websites, including The Toronto Star, Canada’s largest daily by circulation. Subscriptions account for the remaining 40%.
As part of a new strategy to increase online advertising sales, Torstar plans to drop the paywall on The Toronto Star’s website and launch a new free version for tablet computers.
The shift will likely hurt its 2015 revenue but should attract more readers in the long run. Torstar especially hopes that the tablet edition will attract a younger audience.
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As part of a new strategy to increase online advertising sales, Torstar plans to drop the paywall on The Toronto Star’s website and launch a new free version for tablet computers.
The shift will likely hurt its 2015 revenue but should attract more readers in the long run. Torstar especially hopes that the tablet edition will attract a younger audience.
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ISHARES MSCI SOUTH KOREA INDEX FUND $57.04 (New York symbol EWY; buy or sell through brokers) aims to track the MSCI Korea Index.
The ETF’s top holdings are Samsung Electronics, 21.0%; SK Hynix Semiconductor, 4.3%; Hyundai Motor Co., 4.0%; Shinhan Financial, 3.1%; Naver (Internet content), 3.0%; Posco (steel), 2.8%; Hyundai Mobis (auto parts), 2.7%; KB Financial, 2.6%; Kia Motors, 1.9%; and Korea Electric Power, 1.9%.
The fund’s industry breakdown is as follows: Information Technology, 38.2%; Consumer Discretionary, 16.6%; Financials, 14.3%; Industrials, 10.6%; Materials, 7.6%; Consumer Staples, 6.2%; Utilities, 2.1%; Energy, 1.6%; Telecommunication Services, 1.2%; and Health Care, 0.7%.
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The ETF’s top holdings are Samsung Electronics, 21.0%; SK Hynix Semiconductor, 4.3%; Hyundai Motor Co., 4.0%; Shinhan Financial, 3.1%; Naver (Internet content), 3.0%; Posco (steel), 2.8%; Hyundai Mobis (auto parts), 2.7%; KB Financial, 2.6%; Kia Motors, 1.9%; and Korea Electric Power, 1.9%.
The fund’s industry breakdown is as follows: Information Technology, 38.2%; Consumer Discretionary, 16.6%; Financials, 14.3%; Industrials, 10.6%; Materials, 7.6%; Consumer Staples, 6.2%; Utilities, 2.1%; Energy, 1.6%; Telecommunication Services, 1.2%; and Health Care, 0.7%.
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; buy or sell through brokers) aims to track the MSCI Emerging Markets Index.
Its geographic breakdown includes China, 21.8%; South Korea, 14.4%; Taiwan, 12.7%; Brazil, 8.3%; South Africa, 8.1%; India, 7.5%; Mexico, 4.8%; Russia, 3.7%; Malaysia, 3.6%; Indonesia, 2.7%; Thailand, 2.4%; and Turkey, 1.7%.
The fund’s top holdings are Samsung Electronics (South Korea), 3.4%; Taiwan Semiconductor (computer chips), 3.0%; Tencent Holdings (China: Internet), 2.3%; China Mobile, 2.1%; Naspers (South Africa: media and Internet), 1.5%; China Construction Bank, 1.5%; Industrial & Commercial Bank of China, 1.4%; and Itau Unibanco Holding (Brazil: banking), 0.9%.
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Its geographic breakdown includes China, 21.8%; South Korea, 14.4%; Taiwan, 12.7%; Brazil, 8.3%; South Africa, 8.1%; India, 7.5%; Mexico, 4.8%; Russia, 3.7%; Malaysia, 3.6%; Indonesia, 2.7%; Thailand, 2.4%; and Turkey, 1.7%.
The fund’s top holdings are Samsung Electronics (South Korea), 3.4%; Taiwan Semiconductor (computer chips), 3.0%; Tencent Holdings (China: Internet), 2.3%; China Mobile, 2.1%; Naspers (South Africa: media and Internet), 1.5%; China Construction Bank, 1.5%; Industrial & Commercial Bank of China, 1.4%; and Itau Unibanco Holding (Brazil: banking), 0.9%.
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RIOCAN REIT $28.76 (Toronto symbol REI.UN; Units outstanding: 313.9 million; Market cap: $9.2 billion; TSINetwork Rating: Average; Dividend yield: 4.9%; www.riocan.com) has agreed to form a new joint venture with Hudson’s Bay Co. (Toronto symbol HBC).
The REIT will contribute $325 million to this new firm, consisting of 50% of two shopping malls in Oakville and Barrie, Ontario, $52.5 million of property upgrades and $128.1 million in cash. Hudson’s Bay will contribute 10 owned or leased stores in major Canadian cities.
RioCan will own 20.2% of this new business, while Hudson’s Bay will hold the remaining 79.8%. The partners will likely sell shares in the new company to the public, which would help unlock the value of these properties.
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The REIT will contribute $325 million to this new firm, consisting of 50% of two shopping malls in Oakville and Barrie, Ontario, $52.5 million of property upgrades and $128.1 million in cash. Hudson’s Bay will contribute 10 owned or leased stores in major Canadian cities.
RioCan will own 20.2% of this new business, while Hudson’s Bay will hold the remaining 79.8%. The partners will likely sell shares in the new company to the public, which would help unlock the value of these properties.
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ENERPLUS CORP. $13.06 (Toronto symbol ERF; Shares outstanding: 205.4 million; Market cap: $2.7 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.6%) produces an average of 105,591 barrels of oil equivalent a day (56% gas and 44% oil). The company’s properties are mainly in Alberta, Saskatchewan, B.C., North Dakota and Montana, as well as the Marcellus shale, which passes through Pennsylvania, New York, Ohio and West Virginia.
In the quarter ended December 31, 2014, Enerplus’s production rose 12.1% from a year earlier. That increase, plus higher realized gas prices, pushed cash flow per share up 15.7%, to $1.03 from $0.89.
Like ARC, Enerplus will cut spending this year. Its outlays will now total $480 million, down 24.4% from its original estimate of $635 million and 40.8% from $811.0 million in 2014.
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In the quarter ended December 31, 2014, Enerplus’s production rose 12.1% from a year earlier. That increase, plus higher realized gas prices, pushed cash flow per share up 15.7%, to $1.03 from $0.89.
Like ARC, Enerplus will cut spending this year. Its outlays will now total $480 million, down 24.4% from its original estimate of $635 million and 40.8% from $811.0 million in 2014.
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ARC RESOURCES $24.16 (Toronto symbol ARX; Shares outstanding: 335.0 million; Market cap: $8.2 billion; TSINetwork Rating: Speculative; Dividend yield: 5.1%; www.arcresources.com) produces oil and natural gas in Western Canada. Its average daily output of 117,986 barrels of oil equivalent is 61% gas and 39% oil.
In the quarter ended December 31, 2014, ARC’s cash flow per share rose 3.9%, to $0.79 from $0.76 a year earlier. Realized oil prices fell 12.5%, to $72.49 a barrel from $82.85, but ARC’s production gained 17.0%, and its realized gas prices rose 15.0%.
Like many oil and gas producers, ARC plans to cut back on exploration and development spending. This year, the company will devote $750.0 million to this purpose, down from $945.5 million in 2014.
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In the quarter ended December 31, 2014, ARC’s cash flow per share rose 3.9%, to $0.79 from $0.76 a year earlier. Realized oil prices fell 12.5%, to $72.49 a barrel from $82.85, but ARC’s production gained 17.0%, and its realized gas prices rose 15.0%.
Like many oil and gas producers, ARC plans to cut back on exploration and development spending. This year, the company will devote $750.0 million to this purpose, down from $945.5 million in 2014.
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GREAT-WEST LIFECO $34.92 (Toronto symbol GWO; Shares outstanding: 996.7 million; Market cap: $35.2 billion; TSINetwork Rating: Above Average; Yield: 3.7%; www.greatwestlifeco.com) has reported strong results in its latest quarter and raised its dividend.
Great-West is Canada’s largest insurance company. It also offers mutual funds and wealth management. Power Financial owns 67.0% of Great-West.
The company’s earnings per share jumped 34.7% in the three months ended December 31, 2014, to $0.66 from $0.49 a year earlier. Revenue rose 33.1%, to $10.7 billion from $8.1 billion.
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Great-West is Canada’s largest insurance company. It also offers mutual funds and wealth management. Power Financial owns 67.0% of Great-West.
The company’s earnings per share jumped 34.7% in the three months ended December 31, 2014, to $0.66 from $0.49 a year earlier. Revenue rose 33.1%, to $10.7 billion from $8.1 billion.
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TRANSCANADA CORP. $55.25 (Toronto symbol TRP; Shares outstanding: 708.6 million; Market cap: $39.1 billion; TSINetwork Rating: Above Average; Dividend yield: 3.8%; www.transcanada.com) operates 68,500 kilometres of natural gas pipelines and over 11,800 megawatts of power generation in Canada and the U.S.
In the three months ended December 31, 2014, TransCanada’s revenue rose 12.1%, to $2.6 billion from $2.3 billion a year earlier. Excluding one-time items, earnings per share rose 24.1%, to $0.72 from $0.58.
The company completed $7.0 billion worth of growth projects in 2014. It plans to complete $46 billion of additional projects secured by long-term contracts by 2020 (an amount greater than its current $39.1-billion market cap).
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In the three months ended December 31, 2014, TransCanada’s revenue rose 12.1%, to $2.6 billion from $2.3 billion a year earlier. Excluding one-time items, earnings per share rose 24.1%, to $0.72 from $0.58.
The company completed $7.0 billion worth of growth projects in 2014. It plans to complete $46 billion of additional projects secured by long-term contracts by 2020 (an amount greater than its current $39.1-billion market cap).
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