Author: padlock

It is another beautiful warm sunny January day in Toronto, which is great except if you are selling furs or natural gas.  With more warm weather forecasted for February, chances are natural gas prices, currently at 10-year lows of approximately $2.50 per mcf, will continue to be soft through the rest of winter.  That being said, I attended a Peters & Co. lunch presentation today by Tourmaline Oil Corp (which in spite of its name is 80% natural gas) and came away feeling very glad that I continue to hold it in clients’ portfolios in spite of the weak natural gas outlook. Tourmaline has done most everything right since its creation just over three years ago and its initial public offering (IPO) in November 2010.  Since the IPO, production has more than doubled and using very conservative company forecasts is expected to double again in 2016.  There is not much management...

Volume 1, Issue 1 What better day than today to post the first blog entry on the Padlock Investment Management website. After trading higher in the pre-market, Apple closed the day at $446.66 or up 6.24%. Take what you like from the fact that the last three digits of today’s closing price were “666”, which also happened to be the market-bottom March 2009 low on the S&P 500 index, and the market-bottom November 2011 low on the Russell 2000 index, the results reported yesterday were wickedly outstanding results.  As good as I thought the results could be, I never dreamed that the results would be that good.  For a review of the results click on today’s Wall Street Journal story. In spite of the 6.24% increase today, Apple remains a cheap stock and the largest holding in the portfolios.  Notwithstanding that I believe that there is further upside in Apple beyond today’s levels, I...

Padlock Investment Management Inc. has now been officially registered by the Ontario Securities Commission and commenced operations on January 3, 2012, which was ironically the 35th anniversary of the start of (what was then known as) Apple Computer Inc. One of the endeavors that I plan to undertake at Padlock is to produce market commentaries under the resurrected name of The Lato Letter. I wrote The Lato Letter as a way of reaching out to clients and other interested parties on an infrequent basis between 1994 and 2005. Those letters were done prior to a more significant embracement of the electronic age and were sent out in printed form via regular mail. Future versions will be posted on the Padlock Investment Management Inc. website in the Blog section and will also be emailed directly to a distribution list. If you would like to be placed on the distribution list, please click...

Padlock Investments is ready to take on your investment portfolio. Ask us how!