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  • Bank Of Montreal Is For The Long-Term Investor  [View article]
    The concern in Canada is the oil and gas as well as the real estate market. With oil and gas, the exposure of the big Canadian banks is quite manageable. In real estate, the exposure is larger but the Canadian banks are well protected. Most mortgages are government insured and maximum amortizations are 25 years. This means that even in a housing correction (which I believe will happen) the banks are well protected from any big losses. BMO US operations have also been showing improved results. They also just bought GE's commercial truck financing division which should add to earnings.
    For an investor , the Canadian banks with their solid growing dividends should be viewed as generators of income and growth over time.

    JMO Long BMO
    Sep 27, 2015. 09:23 AM | 3 Likes Like |Link to Comment
  • U.S. continues probe into imports of hot-rolled steel  [View news story]
    I think any government understands that free trade is good when dumping is not involved and that dumping is extremely bad over the medium to long run. Right now, it looks as bad as it can get for steel and to me that says we are at a bottom or close. The problem is China and China knows that dumping is only a short term solution and China is also very capable of dealing with the problem.

    JMO
    Sep 26, 2015. 03:03 PM | Likes Like |Link to Comment
  • U.S. continues probe into imports of hot-rolled steel  [View news story]
    This is creating some real bargains in steel stocks!! Especially so in MT that has a world wide presence and is trading way bellow book value. Steel has always been cyclical and most of these companies will see better times ahead.

    JMO
    Sep 25, 2015. 04:00 PM | 5 Likes Like |Link to Comment
  • Wishing I Could Restart My Energy Portfolio With These Dividend Stocks  [View article]
    CVE has cash $10 - $12 operating costs to produce a barrel of oil (the number was in a seeking alpha news report) and is in a very good position with its balance sheets. TRP is a very conservatively run energy company (natural gas pipelines, oil pipelines and electricity generation) . IMO - I own both and will continue holding as they will both survive and prosper.
    I get the sense that the market is definitely bottoming as when all the headlines are negative and even misleadingly so you know you are close. (Today's negative Bloomberg headline on diesel that also has a 19% increase in gasoline consumption in China buried in the article is a good example).

    JMO
    Sep 24, 2015. 11:13 AM | 3 Likes Like |Link to Comment
  • Stocks set to open with solid losses  [View news story]
    Bloomberg article is making a big deal of diesel oversupply in China but reading past the headlines in the article, they also state that gasoline consumption is up 19%. Is the market reacting to headlines rather than the actual details?? Go figure!
    Sep 24, 2015. 09:06 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: What's Next For Volkswagen?  [View article]
    Excellent article on China that gives a good picture of where it is at and where it is going. It was published just before the Chinese stock market crash (they got that one right).

    http://bit.ly/1VcmlnF
    Sep 24, 2015. 08:05 AM | 2 Likes Like |Link to Comment
  • Don't Rule Out A Turnaround For Encana  [View article]
    People need to remember that Encana also sold assets in a better Market to make their Eagleford and Permian acquisitions. So yes they could have done better on timing of buying but not all is as bad as it seems. Encana also has a history of being able to leverage technology to lower costs and increase returns from their wells. They are also a very asset rich company that does not have to take "fire sale" offers for what they are looking to sell and as the Haynesville sale shows, they can still get good value for what they do sell.
    I also think that they would make a very attractive acquisition for a larger company - asset rich with high quality property in the best basins with increasing liquids production and the ability to quickly increase gas production should that market improve.
    I also think that we will see Encana surprise positively on its production numbers going forward as they have a history of doing this.

    JMO - Long ECA
    Sep 24, 2015. 07:52 AM | 1 Like Like |Link to Comment
  • Hillary Clinton says she opposes Keystone pipeline  [View news story]
    with respect to Keystone XL

    http://bit.ly/1KOsvZN
    Sep 23, 2015. 08:48 AM | 1 Like Like |Link to Comment
  • Hillary Clinton says she opposes Keystone pipeline  [View news story]
    Keystone is a red herring as while all the focus was on Keystone, the industry built all kinds of other additional capacity to ship oil South and in just about every other direction. The sad thing is that Keystone would have been far better from an environmental and safety perspective than a lot of the alternatives being put in place (rail, reversal of oil pipelines. barging). Also Unlike most other sources of heavy oil shipped to America (Venezuela, Saudi Arabia and Mexico) the Canadian industry is focused on environmental improvement and regulated. Same old story - narrow minded greens keep shooting themselves and by default the rest of us in the foot - they actually make things worse!!!
    Looks like Hillery would rather have America continue to buy oil from enemies than from friends as well!!!
    Sep 23, 2015. 08:30 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: U.S. Stocks Look To Battle Past Asia  [View article]
    Keystone is a red herring as while all the focus was on Keystone, the industry built all kinds of other additional capacity to ship oil South and in just about every other direction. The sad thing is that Keystone would have been far better from an environmental and safety perspective than a lot of the alternatives being put in place (rail, reversal of old pipelines, barging). Also Unlike most other sources of heavy oil shipped to America (Venezuela, Saudi Arabia and Mexico) the Canadian industry is focused on environmental improvement and regulated. Same old story - narrow minded greens keep shooting themselves and by default the rest of us in the foot - they actually make things worse!!!
    Sep 23, 2015. 08:16 AM | 16 Likes Like |Link to Comment
  • Mining stocks smacked on China economy concerns  [View news story]
    This is creating some huge bargains for those with time on their side! JMO
    Sep 22, 2015. 09:19 AM | 4 Likes Like |Link to Comment
  • Crude Oil Is Seeing Improving Fundamentals  [View article]
    Based on the cost info provided below, I would have to say that CVE is one of the lowest cost producers in Canada.

    Canadian Natural, oil sands companies seeking low-cost production
    Sep 16 2015, 11:31 ET | About: Canadian Natural Resources,... (CNQ) | By: Carl Surran, SA News Editor

    image: http://bit.ly/1OIcCpk
    [Contact this editor with comments or a news tip]

    Canadian Natural Resources (CNQ +5.8%) is the latest Canadian oil sands producer looking to cut costs, saying it plans to cut operating costs by $390M more than currently budgeted this year.

    CNQ, which has operating costs of ~US$30/bbl, hopes to lower that figure to $25-$27 within the next few years, to shield itself from U.S. crude prices that have been stuck below $50 in recent months.

    Cenovus Energy (CVE +6.5%) also says it is looking to aggressively slash costs, not satisfied with total costs of $11-$14/bbl and targeting a $1-$2/bbl reduction.

    Suncor Energy (SU +4.2%) has seen its cash operating costs fall to $28.20/bbl in H1 of the year, compared to $33.80 last year.
    Sep 20, 2015. 07:37 AM | 1 Like Like |Link to Comment
  • Twitter's Big Opportunity: Monetizing The Fire Hose For Financial Professionals  [View article]
    I like the Thomson Reuters' Eikon approach far better as it tries to filter the crap out of the twitter feed. The big problem that comes with relying on 140-charater snippets that come from everyone and anyone is that it is ripe for abuse. 140 characters is just enough to tell you something but nowhere near enough to substantiate anything - in other words its real easy to manipulate it to the point where all it amounts to is misinformation. Tweets also come from everyone and anyone which means that I would not assign much if any quality to most off them.
    It is also no secret that after a slow start, Thomson Reuters Eikon terminal as now off to the races in a big way - far more user friendly and versatile than the Bloomberg terminals is what I hear from the people that use them. My understanding is the Eikon is also gaining market share in many categories. As such one would think that Bloomberg is feeling the competition and looking for anything that can provide some enhancement. In this case, its catching up to what Eickon already has.

    JMO - Long TRI
    Sep 18, 2015. 08:17 AM | 1 Like Like |Link to Comment
  • Crude Oil: A Rest, But Not For Long  [View article]
    $20 - That is probably worse case with a world wide recession and China in deep Du-Du. And it would not stay their long as 90% of producers would be loosing big time!!
    Sep 14, 2015. 03:05 PM | 1 Like Like |Link to Comment
  • Crude Oil: A Rest, But Not For Long  [View article]
    agreed - Just today in Reuters their is a story that Iraq is cutting oil budgets considerably which means less production growth if not an actual production cut. Pumping more to earn less only makes sense over the short term as a means of earning more in the future. Once the Saudis prove their point and the rest of the industry understands that over producing can quickly mean a lot of pain, we will start to see some improved pricing. Maybe not the $100 plus of past but a range of $60 - $80 should balance what the Saudis are trying to achieve with the income needs of producers.

    JMO
    Sep 14, 2015. 03:03 PM | Likes Like |Link to Comment
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