Bio: As founder and CEO of Wellington West Capital Inc., Charlie has ably demonstrated his leadership skills and business expertise in the areas of investments and capital market development. Prior to forming the Firm in 1993, Charlie was a Senior Vice President and Director of Midland Walwyn Capital Inc., Canada's largest independently-owned retail investment firm at the time. During his 13-year tenure with Midland, Charlie consistently ranked as that firm's leading investment advisor of the nearly 1,000 financial advisors employed nation-wide.
Charlie has always played a very active role in the Manitoba business community. Wellington West Capital was chosen by the Government of Manitoba as one of the lead underwriters for the Manitoba Hydro Bond issue, placing more than $200 million in the offering. Since its inception and under Charlie's leadership, Wellington has completed corporate finance issues well in excess of $3 billion. Charlie has also been recognized for his achievements nationally and has been selected as one of Canada's 'Top 40 under 40'. Under Charlie's leadership, Wellington West was chosen as one of the Financial Post's Top 50 Best-Managed Companies for 6 consecutive years. In 2004, the Firm was honoured with the Manitoba Business Award for Outstanding Medium Business as well as being named a finalist for Outstanding Manitoba Ambassador.
Q: Mr. Spiring, in the face of the recent run up in the price of gold, what are your current views of gold and gold stocks in general and conversely what are your views on the US dollar?
A: I believe there is more upside for gold bullion, it is very likely that the gold stocks are better value than gold itself. I like Yamana Gold (YRI:TSX, AUY:NYSE) at $15.02 and Kinross (K:TSX) at $18.68.
Q: With the Canadian dollar hitting new multi year highs yesterday, do you think the surge in the value of our currency (in the last 90 days) is a tad overdone?
A: Absolutely, it is likely going a bit higher but I see it under par next year.
Q: With oil hitting $93/barrel and natural gas languishing in the $6-7/mcf range (and Premier Stelmach’s newly announced royalty regime), are you of the opinion that natural gas prices are poised to move up or oil prices are poised to move down?
A: Oil has momentum to get to $100 soon. Gas is still forming a base to build on. In the longer term, the outlook for gas is bullish.
Q: If possible can you please highlight one sector among Canadian stocks (eg. it can be financials, energy stocks, technology, consumer staples, etc.) that you believe to be overbought and due for a correction and one sector that you believe to be oversold and due for a bounce and why?
A: I am bullish on the agriculture sector and I am cautious on anything to do with manufacturing, still.
Q: Lastly, can you please highlight 1 stock that you think offers the best value moving forward and your reasons for liking it?
A: Chartwell Seniors Housing REIT (CSH.UN) at $12.20 is close to its low and has a reasonably good chance on being a takeover target. It has a yield of 8.7% and has previously been up around $17.00 this year.
Thank You Mr. Spiring!
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