By Musabbir Mazhar Inflation numbers reported on November 10, 2021 in US went up by 6.2% in the last 12 months with Energy up 30% and Used Cars and Trucks up 26.4%! To put into perspective, that’s the largest jump since 1990. While that inflation number seems high at first sight, it should not be […]
Author Archives | investingstreet
ZCL Composites Inc. (TSX: ZCL)
By Musabbir Mazhar[I wrote this Equity/Stock Research Report on July 7, 2017; the company subsequently got acquired but thought I would post it to share some of my valuation thought process] About the CompanyZCL Composites Inc. manufactures and supplies underground storage tanks (UST) made from environmentally friendly fiberglass reinforced plastic (FRP). The company is the […]
IFRS 9: Spike in Loss Allowance expected for Big 6 Canadian Banks!
By Musabbir Mazhar The Big 6 Canadian Banks should begin to show increased Loss Allowance for Expected Credit Losses in the Q2 2020 Earnings release scheduled starting tomorrow, 26th May 2020. If there is anytime when the significant Accounting Standard changes brought by IFRS 9, Financial Instruments, would be felt most, it is now! One […]
US JOBS NUMBER DECLINE. FEDERAL RESERVE BALANCE SHEET NORMALIZATION CONTINUES
By Musabbir Mazhar In the US, the jobs report came out with non-farm payrolls increasing 20,000 for the month of February 2019, which largely falls short of market consensus expectations of 192,000 jobs. This is not good news – to put into perspective, the average job increase was 223,000 each month in 2018 and 311,000 […]
IFRS 15 – Revenue from Contracts with Customers Summary Report
By Mushfiq Mazhar IFRS 15 Impact to other Standards Prominent for companies who run the long-term contracts or complex transactions. In May 2014, Board issued IFRS 15 which was a huge change to the existing revenue recognition guidance. Before IFRS 15 standards, the revenue recognition guidance was spread over the standards and there were various […]
Rashed Mazhar
Rashed Mazhar: I am currently working at Burns & McDonnell in USA as a Staff Electrical Engineer. I am designing Transmission Lines in this engineering, architecture, construction, environmental and consulting solutions firm. I have expertise working with SNC Lavalin Inc. in Canada as a Field Engineer and Lines Engineer in design and construction of Transmission Lines. […]
Musabbir Mazhar
Founder & Author Musabbir Mazhar I launched Investing Street in 2013. I am currently working at Microsoft as a Senior Finance Manager. Prior to this, I […]
Mushfiq Mazhar
Mushfiq Mazhar I am currently working with Ernst & Young (EY) as a Senior Accountant in the Financial Accounting & Advisory Services (FAAS). I have worked with LCBO as a Lease Real Estate Analyst in the Real Estate Administration & Analysis (REAA). I have worked as an International Financial Reporting Standards (IFRS) specialist and collaborated […]
IFRS
By Mushfiq Mazhar International Financial Reporting Standards (IFRS) IFRS stands for International Financial Reporting Standards and it is issued by the IFRS Foundation and the international Accounting Standards Board (IASB) to deliver a common business language which is used across private and public sectors around the world. The mission statement of IFRS is to bring […]
IFRS 16 LEASES SUMMARY REPORT
This is a short summary of the new IFRS 16 lease standard. This summary is extremely helpful for identifying the parameters while making the transition to IFRS 16 (new lease standard) from IAS 17 (old lease standard).
US Jobs numbers out, increasing probability of Fed rate hike? Canada jobs number declines
By Musabbir Mazhar In the US, the jobs report came out with non-farm payrolls increasing 211,000 for the month of November, which beat market consensus expectations of 200,000 jobs. In addition, the job numbers for October was revised upward from 271,000 previously to about 300,000. This is all good news. This, in addition to the […]
A short piece on ‘Crude by Rail’ – Crude oil, railways, alberta oil sands, Pipelines
By Musabbir Mazhar Canadian Oil Sands located in 3 locations: The Athabasca, Cold Lake and Peace River Oil Sands. The product extracted from oil sands is bitumen which must be converted to Synthetic Crude Oil (SCO) or mixed with a diluent (which is expensive) so it can be transported via pipeline. Generally, bitumen produced In […]
A piece on the growing Canada LNG space -Part 1 – 18th May 2014
By Musabbir Mazhar What got my attention to the global Liquefied Natural Gas (LNG) market and to look at Canada’s export potential? Well, a number of things: – There’s a huge energy resource base located in Western Canada and Canada’s technological development in the energy space to be able to make use of unconventional energy […]
Bombardier (BBD.B) up 15%; 18th March’14 Market Update:
By Musabbir Mazhar Bombardier Inc. (BBD.B) shares are up 15% in the last 11 days, currently trading at $4.14 from $3.60 on Mar 7th. Yesterday, it was announced that the company would be a major supplier of locomotives for freight rail system in South Africa – this is one of SA’s largest infrastructure projects. The […]
Fed 2nd round taper & Emerging Markets (EMs) crises: 3rd Jan 2014
By Musabbir Mazhar As expected, the Fed continued its Bond purchases tapering as announced on Wednesday Jan 29th – S&P 500 went down 1% on the news – The Fed will be buying 65$ Billion in Agency MBSs and LT Treasuries starting February – I see the fed continue its tapering program to relieve the […]
What’s happening in the markets since last week?
By Musabbir Mazhar US equities has seen a sell-off in the market last week and many are delving into the thought that the market has just started its long awaited downward spiral- I don’t think so. P/E multiples have grown surely but if you compare them to the time after the crises – when US financial […]
US – Canada Jobs report, USD/CAD, US Budget Surplus; Market update 17th Jan 2014
By Musabbir Mazhar The US Jobs number came out last Friday (10th Jan) at 74,000 job additions for December which has been taken by the markets as a shocker and the US 10 year treasury yields went down on the news. But more sense should be put into this- Workers weren’t looking for work for […]
CAD dollar weaker; market update: 2nd Jan 2014
By Musabbir Mazhar The CAD/USD exchange rate was at 0.9384, up 9 basis points – The currency pair was stable at the close on Thursday. As the number for initial US jobless claims for the week ending December 27 dropped by 2000 to 339,000 – the demand for the US dollar strengthened. China’s manufacturing data […]
Looking at Oil prices at end of year
By Musabbir Mazhar WTI Crude fell down about 1% on Tuesday morning to $98.27 per barrel for February delivery – oil finished the day at 98.42 on the New York Mercantile Exchange (NYMEX) – the largest commodity futures exchange. WTI is up 7% in 2013 – it crossed $100 per barrel on December 27th last […]
Where is the US 10 year Treasury Yield heading?
By Musabbir Mazhar I see the US 10 year Treasury yield going up to 3.10% around the next jobs report in January. The 10 year US treasury yield increased about 12 basis points from Dec 6th yield of 2.86% to 2.98% on the afternoon of Dec 24th. If the jobs report shows improvement, i.e higher […]
Market Update Monday, 2nd December 2013: US Treasury yields Rise, Non-farm Payrolls due to come out Friday
By Musabbir Mazhar Investors were engaging in a sell-off today of the US 10 year treasury and caused its prices to fall – yields rose 5 basis points or 0.0005 to 2.80% as ISM (Institute for Supply Management) data came out positive. This yield level is highest seen since the last 10 days. Investors were […]
Market Update, Thursday, 28th November 2013
By Musabbir Mazhar The Office of the Superintendent of Financial Institutions (OSFI) today released its own version of the guidelines laid out by the Basel Committee in January earlier this year regarding the Liquidity Coverage Ratio (LCR) requirement. OSFI will assess whether any bank, trust or a loan company in Canada maintains adequate liquidity using […]
Market Update, Wednesday, Nov 27, 2013
By Musabbir Mazhar Rogers Communications Inc. struck a deal on Sunday, announced on Tuesday a $5.2 Billion deal for the sports broadcasting rights for National Hockey League (NHL) for the next 12 years. This is the biggest in the history of NHL. This is important to the media division since sporting events get people tied […]
Market update, Tuesday November 26, 2013
By Musabbir Mazhar In US, as housing permits data was released, the numbers for showed an increase at a peak level since June 2008. The number of building permits climbed in October by 6.2% to 1.034 million on a yearly basis. This is good news for the economy. However, if interest rates rise in the […]
Market Update, Friday, November 22, 2013
By Musabbir Mazhar The S&P/TSX composite index was up slightly to end the week at 13,478.34 (+0.02%). The S&P Industrials sector was up 0.49% while the Materials sector was down -0.592 %. CCL Industries Inc. announced that it will shut down its aerosol manufacturing plant in Ontario by mid 2015 – this will cut down […]
Market update, Thursday, 21st November 2013
By Musabbir Mazhar In Geneva, no positive deal went through about disagreement over Iran’s Nuclear Program. Foreign Minister Javad Zariff and EU Foreign Policy Chief Catherine Ashton were unable to find an overall agreement on Thursday afternoon. Iran holds the fourth largest oil reserves in the world and intends to have trade restrictions lifted. Negotiators […]
Market Update, Wednesday, November 20, 2013
By Musabbir Mazhar European Central Bank (ECB) policymakers might take the deposit rate to -0.1% for lenders who deposit excess cash at ECB. The current deposit rate is zero. These policy talks are essentially to take guard against deflation. Jens Weidmann, the German Central Bank president will certainly oppose this policy as he does not […]
Market Update Tuesday, 19th November, 2013
By Musabbir Mazhar The S&P/TSX composite index closed down 15.29 points to 13,422.77. This was after the billionaire investor Carl Icahn commented on Monday afternoon questioning about the recent rally of the equities market to record highs as a result of low interest rates rather than good management. The Canadian Dollar receded 0.4 cents to […]
MARKET UPDATE, monday, 18th NOVEMBER, 2013:
By Musabbir Mazhar The S&P/TSX composite index fell 24.5 points to end the day at 13,458.06 as resource shares fell due to weak commodity prices. Gold at the spot rate is at $1274.85, after falling to $1270.15 on Monday. The DJIA rose above 16,000 for the first time in its history while S&P 500 topped […]
Market Update, Friday, 1st November, 2013:
By Musabbir Mazhar Canada’s main stock index, the S&P/TSX composite index closed 23.80 points lower, or 0.18% lower, at 13,337.46. It was weighed down by the giant gold miner Barrick Gold Corp. (TSX:ABX) which ended the day falling 7.45% to 18.77 C$ after the miner announced of a $3 billion stock offering. The S&P 500 ended at […]
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