TIH - Ian Hardcare, Invesco Trimark :)A FEW BARGAINS LEFT (An Excerpt Only)
Jonathan Ratner, Financial Post Published: Friday, June 26, 2009
--------------------------------------------------------------------------------------------------------
TOROMONT INDUSTRIES LTD. (TIH/TSX).
A top holding in the fund, Trimark has owned this stock since it went public.
In fact, Hardacre notes that it has outperformed Berkshire Hathaway Inc. during
that period.
Toromont, which sells and rents Caterpillar equipment, has been a good business
for a long time but does have some cyclical elements, the manager points out.
"Right now, new equipment sales are down, but rentals are still strong. So the businesses
offset themselves somewhat," says Hardacre.
While the economic slowdown has hurt the company, the large number of government
projects (e. g. building roads) that should kick in later this year or early next, are good
for business.
For its other business, gas compression packages mainly in North America, Hardacre
says the "runway is pretty open for growth," particularly with all the shale plays in Canada
and the United States.
------------------------------------------------------------------------------------------------------------------
Of interest, Ian Hardacre, vice-president at Toronto-based Invesco Trimark, has
been managing the Trimark Canadian Fund for more than 10 years.
For the full article:
https://www.financialpost.com/news-sectors/buy-sell/story.html?id=1734592
And while no one comes to this bullboard - my brother has owned this stock
for over 10 years and keeps bragging about the dividends - so if for no one else,
this post is for him! (Hi,bro)