Portfolio Update – Up 0.55% in April 2014

My portfolio balances at close of trading on 30th April were:

Ticker

Price (C$)

Price Change

Percentage

Industry

DII-B.TO $39.28

6.19%

8.3%

Consumer Cyclical, Home Furnishing
JPM $61.37

-8.58%

9.0%

Finance, Financial Services – Diversified
CCA.TO $60.00

4.62%

0.0%

Consumer Cyclical, Broadcasting
LB.TO $47.08

-0.30%

8.5%

Finance, Financial Services – Diversified
BRK-B $141.25

2.22%

0.0%

Finance, Insurance – Property and Casualty
POW.TO $30.86 n/a

9.1%

Finance, Insurance – Life and Health
XUS $25.79

-0.04%

19.2%

S&P500 ETF
XBB $30.57

0.20%

19.3%

Bond ETF
Cash

26.5%

Cash
Total

100.0%

Overall my portfolio is up 2.93% since last month. Not including cash contributions my portfolio is up 0.55%.   For comparison my TI Index is up 1.04%, the DOW is up 0.75% and the TSX is up 2.21%.

My investments are up but performed poorly against the TI Index, DOW, and TSX.

Winners this month include up Cogeco (CCA.TO) which is up 4.62% and Dorel (DII-B.TO) up 6.19%.

Losers this month include JPMorgan (JPM) down 8.58%.

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Portfolio Update – Up 2.07% in March 2014

My portfolio balances at close of trading on 31st March were: 

Ticker

Price (C$)

Price Change

Percentage

Industry

DII-B.TO $36.99

-0.16%

8.9%

Consumer Cyclical, Home Furnishing
JPM $67.13

6.74%

10.2%

Finance, Insurance – Property and Casualty
CCA.TO $57.35

6.22%

9.0%

Consumer Cyclical, Broadcasting
LB.TO $47.22

2.10%

8.8%

Finance, Financial Services – Diversified
BRK-B $138.18

7.99%

10.2%

Finance, Insurance – Property and Casualty
XUS $25.80 n/a

19.8%

S&P500 ETF
XBB $30.51 n/a

19.8%

Bond ETF
Cash

13.3%

Cash
Total

100.0%

 

Overall my portfolio is up 3.64% since last month. Not including cash contributions my portfolio is up 2.07%.   For comparison my TI Index is down 0.04%, the DOW is up 0.83% and the TSX is up 0.88%.

My investments are up and performed very well against the TI Index, DOW, and TSX.

Winners this month include JPMorgan (JPM) up 6.74%, Cogeco (CCA.TO) which is up 6.22% and Berkshire Hathaway (BRK) up 7.99%.

There were no losers.

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Portfolio Update – Up 0.61% in Febraury 2014

My portfolio balances at close of trading on 28th February were:

Ticker

Price (C$)

Price Change

Percentage

Industry

DII-B.TO $ 37.05

-8.06%

8.3%

Consumer Cyclical, Home Furnishing
JPM $ 62.89

2.05%

9.9%

Finance, Insurance – Property and Casualty
CCA.TO $ 53.99

6.89%

8.7%

Consumer Cyclical, Broadcasting
LB.TO $ 46.25

1.43%

8.9%

Finance, Financial Services – Diversified
BRK-B $ 127.95

3.05%

9.8%

Finance, Insurance – Property and Casualty
Cash

54.3%

Cash
Total

100.0%

Overall my portfolio is up 0.61% since last month. There were no cash contributions. For comparison my TI Index is up 3.47%, the DOW is up 3.97% and the TSX is up 3.76%.

My investments are up but performed poorly against the TI Index, DOW, and TSX.

Winners this month include Cogeco (CCA.TO) which is up 6.89% and Berkshire Hathaway (BRK) up 3.05%.

The loser was Dorel Industries (DII-B.TO) down 8.06%.

I am still carrying a lot of cash but I expect to add bond funds this month.

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Portfolio Update – Up 0.02% in January 2014

My portfolio balances at close of trading on 31st January were:

Ticker

Price (C$)

Price Change

Percentage

Industry

DII-B.TO $ 40.30

-0.10%

9.1%

Consumer Cyclical, Home Furnishing
JPM $ 61.62 n/a

9.8%

Finance, Insurance – Property and Casualty
CCA.TO $ 50.51

5.43%

9.1%

Consumer Cyclical, Broadcasting
LB.TO $ 45.60

-2.79%

8.9%

Finance, Financial Services – Diversified
BRK-B $ 124.17

-1.36%

9.5%

Finance, Insurance – Property and Casualty
Cash

53.6%

Cash
Total

100.0%

Overall my portfolio is up 0.02% since last month. There were no cash contributions. For comparison my TI Index is down 0.45%, the DOW is down 5.30% and the TSX is up 0.54%.

The Canadian dollar has slipped almost 5% compared with the US Dollar this month, which elevated the relative value of my US stocks (Berkshire Hathaway and JP Morgan).  This helped preserve my equity as US stocks slipped down 5%.

My investments are up and performed well against the TI Index and DOW, but poorly against the TSX.

The winner this month was Cogeco (CCA.TO) which is up 5.43%.  It also paid a 30c dividend during the month, which is a further 0.6% gain.  I bought Cogeco only a month ago so I’m gratified with this performance.

The loser was Laurentian Bank (LB.TO) down 2.79%.

I am still carry a lot of cash, pending transfer.

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Adding Cogeco Cable

Screen Shot 2013-12-30 at 9.33.27 PMCogeco Cable (CCA.TO) meets my screening criteria.

Cogeco is a Canadian cable company providing cable TV, internet and voice over IP (VOIP) services to domestic and small business customers in Ontario and Quebec.  They also provide enterprise services – data centre, managed information technology (IT) and connectivity services – for medium and large enterprises and public sector customers.

Cogeco acquired Atlantic Broadband in 2012 and Peer 1 Network Enterprises in 2013.

I analyzed the stock using my usual procedures. The results are as follows.Screen Shot 2013-12-30 at 10.47.51 PM

  • The P/E Ratio is 11.83, which is a little lower than the average historical P/E of 12.38, and the Graham Number is $49.93
  • The Dividend Yield is only 2.52%, which is low, but the coverage is 335% which supports a future dividend raise
  • Forecast Growth Rate is good at 11.60%, compared with 14.45% historically
  • The Gordon Return (Dividend + Growth) is 14.12%, which is high
  • The Margin of Safety at current prices is -8%. This is low but I think the price is fair given the growth prospects.

I believe that the stock is fairly priced here.

  • Buy LB.TO @ $48.25