02:50:48 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 856,712,928
Close 2015-06-19 C$ 57.31
Market Cap C$ 49,098,217,904
Recent Sedar Documents

Globe says Veritas a contrarian on Fortis, others

2015-06-22 06:48 ET - In the News

See In the News (C-FTS) Fortis Inc

The Globe and Mail reports in its Saturday edition that Veritas Investment forensic accountant Anthony Scilipoti is known on Bay Street as a man making bold, contrarian calls against Canadian darling stocks. The Globe's Tim Shufelt writes that Mr. Scilipoti co-founded Veritas in 2000. The firm is often the sole outlier in a chorus of analyst support, as is the case with AutoCanada, Fortis, Enbridge, Exchange Income and CAE. Management can react strongly to finding itself the target of a Veritas offensive. They make angry phone calls, issue legal letters. They can blacklist Veritas analysts from participating in conference calls to discuss earnings. Such is the lonely path of a contrarian. Veritas, however, remains one of the few sources of independent research in Canada and adding another bullish voice to the consensus would be of limited value. A little more than half of Veritas's ratings qualify as "sells." The broader Canadian analyst community, meanwhile, has 1,845 "buys" compared with just 301 "sells" on the stocks included in the S&P/TSX composite index. Mr. Scilipoti says: "You end up being known for making these very noisy calls. That gets people's attention."

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