i’ve been watching a bit of BNN lately. don’t get me wrong, I know these people are way smarter and more knowlegeable then myself, but after deciphering through their answers i have come to the conclusion that a lot just talk about stocks using big words in an elegant manner. For instance: caller-what do you think about TD and do you think it is a good buy and why? expert analyst, CFA-TD has done tremendously well and has a PE of 15, about the same as industry average. the last few weeks, we’ve seen a fall in share prices which we think is attributed to the subprime debacle. Their 52 week low is 65 dollars so we’re approaching that now. we think the CEO is good and he will provide some good direction in the near future. in essence, they just give us some basic facts then spice it up with some comments about the industry. of course, some are better then others, but i feel that most are just reading a long quote for the company. what do you guys think? how often do you listen to these guys?
What the heck is BNN?
the call is pre recorded, not too early, but early enough for the research associates who work on the show can dig up information on and then send over to the host so he can refer to on his screen. maybe even info for the guest as well, i mean sure these guys are industry professionals, but are they supposed to know the story on every stock? maybe they also screen calls to choose stocks that the guest speaker is comfortable about as well, NO WAY the call is live, their has to be some sort of edit to avoid embarassmnet of the guest and/or the show
Frank, A lot of the Big Bank owned guys really don’t care to be on t.v. or not. They could care a less. Take TD Bank…they’ve got branches from one of Canada to the next. Do you think they really need to get up there and say something compelling and meaningful? Another thing is the benchmark issue…most cap weighted b.m’ed PMs in Canada basically hold the same stuff. Take a typical Canadian Equity fund, without even looking, the top ten holdings are guaranteed to be: TD, Manulife [or Sunlife], Encana, Petro-Canada, Bank of No Service, BAM, Barrick…I mean it really doesn’t take that much to learn 15 to 20 big cap names. You just read the Capital IQ tear sheet the night before your BNN appearance. Willy
What do you expect an analyst to say on a call in show? First of all, analysts get paid to give their clients their best info not some guy sitting on his couch eating cheeseburgers. So often times they talk in generalities on television. There are actually a ton of reasons why analysts talk alot but say very little when they are on television.
so do you guys find their insights helpful? i find that they’re a good introduction to the company in terms of telling me what they do. but i’m surprised that they don’t have a show where a person gets into the nitty gritty details.
I like seeing jean francois and david burrows on bnn (edit: also david taylor). I agree with your comments. Also of them give obvious answers and they dont always know about a stock. I was calling in about bad.un a couple times, but the analysts i wanted answers from hadnt heard of the stock. basically i goes like this. you tell the person at bnn what stock you want the analyst to talk about. they put u on hold for 5-15minutes. after that they tell u whether or not the analyst covers the stock. if they dont u can ask for another stock. if they cover the stock, then they put u through. frank and others, check out www.stockchase.com It has a list of analysts, what they say, etc.
I like Peter Brieger the best. I mean this guy just exudes professionalism and confidence and most importantly class. This guy is just the best, great shirt/tie combo skill set too. Like this guy simply looks the part. What’s the old Bay Street adage: every inch of lost hairline = $100,000 increase in pay? Willy
i think a lot of these guys go on the shows to get groupies. my fave is Amanda Lang.
Bloomberg has some interesting analysts on in the morning.
Ravi Sood and Jean Francious are the guys i like the most that appear regularly. Brian Acker is pretty cool too but he blew it big time when he said there was no housing bubble in the US.
dumb question, but can you watch bnn on a bloomberg?
SeanC… Where’s the housing bubble? The 1 to 3% of the economy that got suckered into these teaser mortgage deals? Good for them. That’s being stupid. This is a classic example of the silent hand doling out a fierce biatch slap. What kind of moron buys a $450,000 at age 22, with no income, no record of employment and no assets to back it up? If you have to ask, you can’t afford it. Housing bubble…meh. You guys cannot possibly believe that this pruported housing bubble is even near the scope of LMTC or October 1987. Here’s an investment strategy that’s bound to work: anything you hear more than 5 times a day on CNBC, do exactly the OPPOSITE of. Hail Acker Willy
WillyR Wrote: ------------------------------------------------------- > SeanC… > > Where’s the housing bubble? The 1 to 3% of the > economy that got suckered into these teaser > mortgage deals? Good for them. That’s being > stupid. This is a classic example of the silent > hand doling out a fierce biatch slap. What kind of > moron buys a $450,000 at age 22, with no income, > no record of employment and no assets to back it > up? > > If you have to ask, you can’t afford it. > > Housing bubble…meh. You guys cannot possibly > believe that this pruported housing bubble is even > near the scope of LMTC or October 1987. Here’s an > investment strategy that’s bound to work: anything > you hear more than 5 times a day on CNBC, do > exactly the OPPOSITE of. > > Hail Acker > > Willy Sure they deserve what they got but its hard to swallow that the current credit crunch is not associated with problems in the housing market. Nor is it easy to deny that there is a problem when there is such a glut of unsold homes on the market, especially in certain areas like Miami. Or that there were pretty extreme valuations for homes on the basis of price to rent ratios. Sure it may only be a small percentage of the economy that is directly affected but its hard to ignore the size of the effect on the construction and finance industries. So I guess Acker Finley is one of the PM’s you use eh? Thats good, their returns have been swell, id like to get an idea of what the model they use looks like.
no housing bubble? from everything that i’ve read, they talk about the bursting of the housing bubble…
check the Case Shiller National Index - if that isn’t what a bubble looks like, I don’t know what is.