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  • Stella Jones: Great Industry But Overpriced  [View article]
    You may be right that the railway tie and utility pole industries are not glamorous growth industries, but SJ primarily achieved its growth in top line through serious acquisitions. Its bottom line growth is a mix of acquisition and organic growth.
    Historically SJ has achieved >20% growth rate in the past ten years, and probably this trend cannot continue forever because eventually they will run out of things to buy or pay too high a premium for the acquired businesses.
    I wouldn't buy SJ either at the current price level, but for different reasons. All it takes for the stock to tank, is a few quarters of below expetation growth, and then the music stops.
    Jul 15, 2015. 10:18 AM | Likes Like |Link to Comment
  • A 7% Yield From An Airline? Yes, It Does Exist  [View article]
    Thank you for the article, Falcon. I am wondering if you have any insights into how Chorus is going to finance its fleet upgrade (the Q400's). It seems to me that if the company keeps its current payout ratio, it will inevitably have to raise money through debenture or issuing more shares. Which sort of leads me to my second question: yes, the dividend payout is well supported by its operating cash flow, but how much CapEx would you deduct to reach sustainable free cash flow?
    Jun 28, 2015. 08:25 PM | Likes Like |Link to Comment
  • Buy Home Capital Group With A 50% Margin Of Safety  [View article]
    I believe HCG reviews loans on a case-by-case basis, taking into consideration more factors than the big banks do. They also do not use automatic algorithem to determine a loan's eligibility. IMO, this is why HCG has been able to stay comfortable in its niche market without competition from big banks
    Jun 18, 2015. 09:52 AM | Likes Like |Link to Comment
  • The House will vote on the unamended Senate bill at 9 PM ET, reports CNN's Dana Bash. Any attempt to alter the bill by adding spending cuts has reportedly been abandoned for now. Update at 9:10: The vote has been pushed back to 11 PM ET.  [View news story]
    Jan 2, 2013. 03:32 AM | Likes Like |Link to Comment
  • Profits In Uranium Energy's Future?  [View article]
    It's the largest CONVENTIONAL uranium miner :)
    Dec 31, 2012. 03:50 PM | 1 Like Like |Link to Comment
  • House Republicans won't bring their "Plan B" tax-cut proposal to a vote tonight, as Speaker John Boehner says he doesn't have the votes; the House will recess until after Christmas. DJIA futures slip 0.2%. Boehner: "Now it is up to the president to work with Senator Reid on legislation to avert the fiscal cliff." Updated: S&P 500 e-Mini futures dive, limit down.  [View news story]
    I agree. Futures are coming back up. Can't understand why the market is so short-sighted. You think we may actually end up with a deal or a statement before Christmas?
    Dec 21, 2012. 01:09 AM | Likes Like |Link to Comment
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