investment

A: Vermillion Energy Inc., $19.27 symbol VET on Toronto (Shares outstanding: 155.0 million; Market cap: $2.9 billion; www.vermilionenergy.com), is a Canadian-based oil and gas company with operations in this country, the U.S., France, Australia, Ireland, Germany and the Netherlands.

In the quarter ended June 30, 2019, its output jumped 27.8%, to 103,003 barrels of oil equivalent per day (45% natural gas and 55% oil) from 80,625 a year earlier.

Of that production, 59% was in Canada, 10% in France, 9% in the Netherlands, 8% in Ireland, 6% in Australia, 4% in Germany and 4% in the U.S....

A: The Horizons Seasonal Rotation ETF, $22.15, symbol HAC on Toronto (Units outstanding: 13.1 million; Market cap: $290.2 million; www.horizonsetfs.com), is an example of an ETF that shows a wide disparity between its holding and the investments that the sales literature describes.

For example, this ETF aims to tactically spread and move around its holdings between stocks, fixed-income investments, commodities and currencies based on historically demonstrated seasonal trends....

I’ve often written that conflicts of interest are the greatest risk you face as an investor. This idea seems to make sense to most Inner Circle members, even if they never thought of it that way before. But when I mention it to experienced investment professionals, most react in one of three ways:

1. A blank look, as if I’ve referred to something that they know nothing about, or a sensitive issue they don’t want to talk about;
2. An aggrieved or defensive look, as if I’ve raised a sensitive issue and they expect me to follow up with criticism of something they’ve done;
3. A big smile, as if they know of an outrageous conflict of interest and are eager to share.

Recently I got response #3—a big smile—from a fellow portfolio manager....

Investing in an OTC stock can lead to big losses. So only buy the most speculative of these stocks with money you are prepared to lose

Investors want to find the top dividend-paying stocks with a record of consistency in distributing dividend payments. Dividend yields, however, can be misleading and stocks that have the highest dividend yields may also entail significant risk. That can, in turn, lead to negative consequences and losses.

The growth of passive investing has accelerated with the expansion of ETF investments. Here’s more on that trend, plus a look at other passive investments you should know about

Investments in the Canadian stock market today should focus on high-quality stocks, bottom-up investing principles and more to profit with the least amount of risk

The global automotive industry is dealing with several long-term trends. Those include slowing sales as millennials opt for ride-sharing services instead of buying new cars, and rising tariffs that make cars more expensive.


We feel established and profitable car companies, such as the three we analyze below, are in a strong position to respond to those challenges....

GREAT-WEST LIFECO INC. $28 (Toronto symbol GWO; Conservative Growth Payer Portfolio, Finance sector; shares outstanding: 987.7 million; Market cap: $27.7 billion; Dividend yield: 5.9%; Dividend Sustainability Rating: Above Average; www.greatwestlifeco.com) is Canada’s second-largest insurance company, after Manulife Financial....

High-yielding stocks can provide a great boost to a portfolio’s returns, and quality dividends are much more reliable than capital gains.


Investors still earn negligible returns on their fixed-return investments. This can lead some to buy high-yield stocks indiscriminately....