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| Expert | Implied Signal | Company | Symbol | Price | Opinion | Date Entered |
|---|---|---|---|---|---|---|
| Barry Schwarrtz | BUY on WEAKNESS | BCE Inc. | BCE-T | 32.950 | Has done well and has had a great year. Wouldn't be piling his money into it but would Buy on dips. Expecting the dividend to go higher. | 2010-09-02 |
| Bruce Campbell | DON'T BUY | Canadian Oil Sands Trust | COS.UN-T | 25.770 | Isn't that much growth but pays a decent dividend. Would rather own Suncor (SU-T) where you don't get quite the dividend but you know you have a growing production base. (See Top Picks.) | 2010-09-02 |
| Barry Schwarrtz | TOP PICK | Cisco | CSCO-Q | 20.520 | Equipment provider for cell phone manufacturers. Smart phone penetration is only 20% and will double in the next couple of years. Telcos are going to have to spend a fortune on equipment and this is one of the main providers. Has $7 net cash. Worth $25 today and $30 in a year. | 2010-09-02 |
| Bruce Campbell | TOP PICK | Crescent Point Energy Corp | CPG-T | 37.580 | A lot of growth from water flood from Bakken and Shaunevon sites. Because it was a trust, it still has a pretty high dividend. Stock is temporarily depressed because they did a couple of issues to pay for acquisitions. Now have 10 years of drilling. | 2010-09-02 |
| Bruce Campbell | PAST TOP PICK | Eldorado Gold | ELD-T | 20.530 | (A Top Pick Sept 15/09. Up 63%.) Still loves this one but sold his holdings because valuation got too high. Put half into Allied Nevada (ANV-T) at $19 and the rest into an IPO Tahoe Resources (THO-T) at $6. | 2010-09-02 |
| Barry Schwarrtz | SELL | Encana Corp | ECA-T | 29.700 | We have way too much supply of natural gas and doesn't see it improving until all our cars are running on natural gas. Would switch into oil sands and oil company plays. | 2010-09-02 |
| Bruce Campbell | BUY | Great West Lifeco | GWO-T | 25.030 | This is his favourite insurance company. He would prefer to buy it at $24 but it doesn't have the same leverage and credit issues that Manulife (MFC-T) and Sun (SLF-T) have. It is the most likely to raise its dividend sooner. Good ROE. $28-$29 in 1 year. | 2010-09-02 |
| Barry Schwarrtz | BUY | Hewlett-Packard Co | HPQ-N | 39.680 | In a bidding war for 3PAR (PAR-N). Believes they are worried that desktop computer age is going to be over in the next 5 years so want to branch out. Great company and generating $10 billion of free cash flow annually. Balance sheet is in great shape. Trading at less than 10X earnings. Not his favourite. (See Top Picks.) | 2010-09-02 |
| Barry Schwarrtz | BUY | Industrial-Alliance Life Ins | IAG-T | 31.060 | Seems to have done much better than a lot of the other big insurance names and their stock prices held up nicely. Interest rates and bond yields keep going lower, which is hurting insurance companies mark to market earnings. He believes interest rates will be going higher. | 2010-09-02 |
| Barry Schwarrtz | STRONG BUY | Inmet Mining | IMN-T | 53.850 | China is showing that things are still recovering. Good copper prices at over $3.40 so they are making a ton of cash. Earnings this year should be in the $7 range and possibly higher next year when they get the new mine up. Spain is finally online. Fabulous asset in Panama that could be a game changer. Expecting a double in the next 2-3 years. | 2010-09-02 |
| Bruce Campbell | Comment | Kinross Gold | K-T | 17.930 | Thinks it got oversold and has started to pick back up. Acquiring Red Back Mining (RBI-T). If they didn't overpay and they can prove up reserves and you like the price of gold, this is the cheapest senior gold by far. | 2010-09-02 |
| Barry Schwarrtz | STRONG BUY | Manulife Financial | MFC-T | 12.860 | Stock market hates this one but the bond market is treating it as a strong going concern. Expecting they are going to have a much better Q3 as the stock market improves. Interest rates have nowhere to go but up. Trading below book value. | 2010-09-02 |
| Bruce Campbell | BUY | Manulife Financial | MFC-T | 12.860 | There will be some tax loss selling, which will put pressure on the stock. Disclosed last quarter that not only does it have equity risk because of lack of hedging, but also have US treasury interest rate risk if rates go down. A Buy at these prices. | 2010-09-02 |
| Barry Schwarrtz | TOP PICK | Methanex Corp | MX-T | 23.650 | Low-cost producer of methanol. China has 30 million cars for 1.3 billion people and is the fastest-growing carmaker globally. China subsidizes gasoline and is a high cost producer of methanol. Expects more and more methanol will be used. | 2010-09-02 |
| Bruce Campbell | BUY | Nexen Inc | NXY-T | 20.640 | Has had a lot of trouble with Long Lake. Coming but it's slow. A statistically cheap oily stock that, if it can fix the problem, will have a lot of opportunity. Not fixable in 1 quarter. Trading at a discount to NAV. | 2010-09-02 |
| Bruce Campbell | PARTIAL SELL | Potash Corp of Saskatchewan | POT-T | 156.250 | BHP Billiton (BHP-N) would like to acquire them but the market is indicating the price should be closer to $160-$165. If you own, you could sell half your holdings at the current price and hope for a higher takeover on the balance. | 2010-09-02 |
| Barry Schwarrtz | DON'T BUY | Research In Motion | RIM-T | 46.500 | Prices have been beaten down and they are way behind the eight ball. Doesn't think they are in trouble yet but is afraid that Apple (AAPL-Q) is going to catch them. (See Top Picks.) | 2010-09-02 |
| Bruce Campbell | BUY | Research In Motion | RIM-T | 46.500 | Thinks it is oversold but has not been adding to his holdings. Has become sort of a classic value trap. Sentiment probably can't get much more negative. Growing revenues and earnings at 25% and trades at 8X earnings. If you have the stomach for the volatility, it will probably work out. | 2010-09-02 |
| Bruce Campbell | TOP PICK | RioCan Real Estate Investment | REI.UN-T | 21.010 | Largest and oldest REIT. Shopping centres. So big in Canada that they’re starting to dip their toe into Texas and Pennsylvania. These are accretive acquisitions. About 7% yield. Great place to hide in this environment. | 2010-09-02 |
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| Barry Schwarrtz | STRONG BUY | Royal Bank | RY-T | 52.300 | His 3rd favourite Canadian bank after National (NA-T) and Bank of Nova Scotia (BNS-T). Looks quite attractive. Good results in retail, commercial and lending. Expects earnings will increase from here. Cheapest of the big 5. Has a $65 target and a dividend increase. 3.8% yield. | 2010-09-02 |
| Bruce Campbell | Comment | Royal Bank | RY-T | 52.300 | 2 concerns. They are most highly levered to capital markets but he can live with that. His biggest concern is that they're losing money on their US retail side. This needs some fixing. (See Top Picks.) | 2010-09-02 |
| Barry Schwarrtz | SELL | Shawcor Ltd. (A) | SCL.A-T | 26.710 | Manufacturer of products for natural gas. There are a lot of big plans as Trans Canada (TRP-T) and Enbridge (ENB-T) want to grow their pipeline bases. Last couple of years has been really terrible for natural gas drilling. Wait for an improvement in natural gas prices. | 2010-09-02 |
| Bruce Campbell | PAST TOP PICK | Shoppers Drug Mart Corp | SC-T | 36.260 | (A Top Pick Sept 15/09. Down 13%.) Sold his holdings a while ago. It was a defensive stock in uncertain times with decent growth. Decision by the Ontario government has basically taken out 2-3 years of growth. | 2010-09-02 |
| Barry Schwarrtz | BUY | SNC-Lavalin Group Inc. | SNC-T | 51.110 | Great assets and a lot of cash flow. Will go higher over time but the problem is that stimulus has not really kicked in. | 2010-09-02 |
| Bruce Campbell | HOLD | Uranium One Inc. | UUU-T | 3.540 | A special dividend of $1.06 will be paid because of the Kazakh deal and the stock will drop to about $2.50 which is the asset value. From there it becomes 1) a consolidating play or 2) at play on the price of uranium. | 2010-09-02 |
| Bruce Campbell | Comment | Suncor Energy Inc | SU-T | 33.780 | After Petrocan acquisition they’re selling gas and non-core assets and retreating to being primarily oil sands. Very good at it and one of the lowest cost producers. If oil prices get back to oscillating between $70 and $85, this will probably go back to the $39-$40 level. (See Top Picks.) | 2010-09-02 |
| Bruce Campbell | DON'T BUY | Yamana Gold Inc. | YRI-T | 10.870 | Had problems in the last couple of years and traded at a discount because they over promised and under delivered. Better places to be such as Allied Nevada (ANV-T), which has better growth. | 2010-09-02 |
| Bruce Campbell | HOLD | Telus Corp | T-T | 43.860 | Good solid hold and won't go down much in the correction. His favourite is Rogers (RCI.B-T), which has better growth and almost the same dividend. | 2010-09-02 |
| Bruce Campbell | TOP PICK | Toronto Dominion | TD-T | 73.170 | Just reported very solid numbers. Likes the US where they are quite profitable. Could see $80. About 3% yield and is almost certain they will raise the dividend in 2011. | 2010-09-02 |
| Bruce Campbell | PAST TOP PICK | Paladin Resources | PDN-T | 3.700 | (A Top Pick Sept 15/09. Down 14%.) Uranium. Probably the only metal that hasn't recovered from its bottom. 2nd largest producer. Expecting consolidation in the sector and this would be the most likely target. | 2010-09-02 |
| Barry Schwarrtz | BUY | Trans Canada Corp | TRP-T | 38.490 | Have $30 billion of assets they are working on. They'll grow their earnings and this is money in the bank. | 2010-09-02 |
| Barry Schwarrtz | PAST TOP PICK | A Comment -- General Comments From an Expert | A Commentary | 0.020 | (A Top Pick Nov 10/09. Up 9.5%.) Canada Real Return Bond Dec 2021. This was his inflation hedge but has done so well because bond yields have dropped. Will probably trim his position. | 2010-09-02 |
| Barry Schwarrtz | BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Canadian telcos. Generating oodles of free cash flow. Smart phone growth is picking up at a tremendous rate giving them extra revenues and extra profits to their bottom lines. Smart phone penetration is still only 20% in North America and expects it to double in the next couple of years. | 2010-09-02 |
| Bruce Campbell | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Market. He is looking for a 5% correction in the market. | 2010-09-02 |
| Bruce Campbell | Comment | Bell Aliant | BA.UN-T | 25.460 | Reasonable dividend. Announced what the dividend cut will be after they convert and there is probably not a lot of danger. Lack of growth but because they are a wire line business, there could actually be a slow decline. Doesn't expect BCE (BCE-T) are in any particular hurry to acquire them. 11.4% yield. | 2010-09-02 |
| Barry Schwarrtz | PAST TOP PICK | Thompson Creek Metals | TCM-T | 9.600 | (A Top Pick Nov 10/09. Down 22.98%.) Can't believe how poorly this company has done. Great buying opportunity. | 2010-09-02 |
| Barry Schwarrtz | PAST TOP PICK | Morguard Corporation | MRC-T | 41.500 | (A Top Pick Nov 10/09. Up 36.74%.) Real estate holding company and real estate has done really well | 2010-09-02 |
| Bruce Campbell | Comment | MagIndustries Corp. | MAA-T | 0.355 | Has rebounded off the bottom with a potash speculation of being a good takeover. In negotiations with the Chinese company Complant (?) to finance their plans for their Congo mine. Stock is $.70 if a deal is signed and $.25 if they don't. Speculative. | 2010-09-02 |
| Barry Schwarrtz | TOP PICK | SABESP | SBS-N | 40.170 | Water utility for 25 million people in São Paulo, one of the fastest growing cities globally. Trading at 6X earnings. 5% yield. Brazil's GDP is on fire and will be hosting the Olympics and the World Cup so it will grow by leaps and bounds. | 2010-09-02 |
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| Paul Gardner | SELL | Bank of Nova Scotia | BNS-T | 51.250 | 5.65% Bond due Dec 2056. This is one that has rallied tremendously and has probably gone as far as it can. | 2010-09-01 |
| Paul Gardner | BUY | Liquor Stores Income Fund | LIQ.UN-T | 15.120 | Have tax losses that they can use when they convert to a corporation. Likes the story. Not one that will have growth but expects distributions will stay intact. | 2010-09-01 |
| Charles Dillingham | TOP PICK | Brookfield Properties | BPO-T | 15.850 | Geographically diversified. Trading at a multiple of 16. 3.7% yield. | 2010-09-01 |
| Charles Dillingham | Comment | Calloway REIT | CWT.UN-T | 23.000 | Calloway (CWT.UN-T) versus RioCan (REI.UN-T)? RioCan is feeling very challenged as it can't find any growth in Canada so are expanding into the US. Calloway has always had more sites than they were using and have the Wal-Mart relationship allowing them to expand. For immediate growth and a better economy in Canada, Calloway has the advantage. Very close to being the same. Fully valued. | 2010-09-01 |
| Charles Dillingham | HOLD | Canadian Apartment Properties | CAR.UN-T | 16.510 | Apartments. Always has serious questions on whether they are doing the proper thing on renovations and keeping things up and always spends more than they earn. Not cheap so wouldn't be rushing into this one. | 2010-09-01 |
| Paul Gardner | PAST TOP PICK | Cineplex Galaxy Income Fund | CGX.UN-T | 21.000 | (A Top Pick Aug 12/09. Up 43%.) Almost like a monopoly in Canada. Have added revenue and margins because of the 3-D effect. Concessions are very good. Recession resistant and a great defensive stock. | 2010-09-01 |
| Charles Dillingham | PAST TOP PICK | Cominar Real Estate Inv Tr | CUF.UN-T | 20.470 | (A Top Pick Sept 3/09. Up 24.99%.) Wonderful management. Has cheap land available for growth. | 2010-09-01 |
| Charles Dillingham | TOP PICK | Dundee REIT | D.UN-T | 25.520 | Very good yield at 8.6%. About 100% payout ratio and it's highly likely they will be bringing this down. Very sharp management. | 2010-09-01 |
| Paul Gardner | DON'T BUY | Dundee REIT | D.UN-T | 25.520 | Has diversified out of the Calgary B & C properties but there is still a real vulnerability for rent renewals. Large vacancies of 20%-30%. | 2010-09-01 |
| Charles Dillingham | PAST TOP PICK | First Capital Realty | FCR-T | 14.810 | (A Top Pick Sept 3/09. Up 32.07%.) Wonderful hands on management. | 2010-09-01 |
| Paul Gardner | PAST TOP PICK | Boardwalk REIT | BEI.UN-T | 44.300 | (A Top Pick Aug 12/09. Up 38%.) This is a story where you can sleep at nights. Participated in the recovery in Alberta with the mining and oil sands. Pristine balance sheet. Lots of cash to buy back shares. | 2010-09-01 |
| Paul Gardner | PARTIAL SELL | H&R Real Estate Inv Trust | HR.UN-T | 19.200 | They were caught offside with the Bow building in Calgary when there were a lot of vacancies and financing had seized up. Recently retired expensive financing so there is no liquidity problem. Have great properties. Has had a good run so if you own, consider shaving. | 2010-09-01 |
| Charles Dillingham | BUY | InnVest Reit | INN.UN-T | 6.720 | Only one in Canada exposed to the hotel market that is well run and diversified. Numbers haven't been great but they are survivors and he thinks they will maintain their distributions. 7.7% yield. | 2010-09-01 |
| Charles Dillingham | TOP PICK | Killam Properties Inc | KMP-T | 9.240 | Apartments and gets all the benefits of CMHC financing. Starting to grow in Ontario. About 85% payout ratio and a sustainable 6.1% yield. | 2010-09-01 |
| Paul Gardner | TOP PICK | Killam Properties Inc | KMP-T | 9.240 | Own the apartment buildings and manufactured houses, basically mobile homes using CMHC financing. Just reported great numbers. Net operating income increased 5% and they upped guidance 5%. Good management and there is still room to grow. | 2010-09-01 |
| Paul Gardner | Comment | Manitoba Telecom Services | MBT-T | 27.550 | Recently cut dividends but are still over distributing. Has been a nightmare story for 3-4 years. Worst performing telco. Bought Allstream about 6 years ago and it blew up on them. Slightly more compelling now as he thinks there is a $4-$5 embedded value on the stock. Might look at this in the near future, especially if it goes lower. | 2010-09-01 |
| Charles Dillingham | BUY | RioCan Real Estate Investment | REI.UN-T | 21.020 | Calloway (CWT.UN-T) versus RioCan (REI.UN-T)? RioCan is feeling very challenged as it can't find any growth in Canada so are expanding into the US. Calloway has always had more sites than they were using and have the Wal-Mart relationship allowing them to expand. For immediate growth and a better economy in Canada, Calloway has the advantage. Very close to being the same. | 2010-09-01 |
| Paul Gardner | TOP PICK | Sherritt International Corp. | S-T | 7.250 | (A Top Pick Aug 12/09. Up 43%.) 7.75% bonds maturing October 2015. The big price movement has already occurred but it still trades as a high yield bond. Cheap relative to investment grade credit. | 2010-09-01 |
| Paul Gardner | PARTIAL SELL | Trans Canada Corp | TRP-T | 38.010 | Likes this because of the consistency of its pipelines. Utility sector has performed very well. With shale gas coming online, technically you don't need the pipeline to go to Ontario. Good company. If you own, consider taking some profit. | 2010-09-01 |
| Paul Gardner | BUY | Whiterock REIT | WRK.UN-T | 15.410 | Focuses out west on office, retail and industrial. Over distributes on incoming income so the question is can they grow big enough to offset this. I've made some accretive acquisitions over the last several months. Relatively inexpensive. | 2010-09-01 |
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| Paul Gardner | BUY | Crombie Real Estate Investment Trust | CRR.UN-T | 11.750 | Focused in the eastern provinces and are anchored by Sobey's and other defensive staple retail outlets. Slightly more defensive than H & R (HR.UN-T) and hasn't participated as much so this would be a good time to get in. | 2010-09-01 |
| Paul Gardner | Comment | Bell Aliant | BA.UN-T | 25.480 | Landlines in the Maritimes, which are being cannibalized by mobile companies. Not a great growth profile. Cut distributions, which was not unexpected. Dividend is really solid. Attractive for yield investors. | 2010-09-01 |
| Charles Dillingham | PAST TOP PICK | Brookfield Asset Management (A) | BAM.A-T | 28.040 | (A Top Pick Sept 3/09. Up 20.58%.) | 2010-09-01 |
| Paul Gardner | BUY | Extendicare REIT | EXE.UN-T | 10.150 | Biggest problem for them is their US exposure and with the US health accord now being printed there are still some unknowns. Margins are improving and probably still has room to grow. | 2010-09-01 |
| Charles Dillingham | DON'T BUY | Scott's REIT | SRQ.UN-T | 7.090 | Their parent company, which owns about 50% of the tenants, is in serious financial trouble. He has held off buying although he does own some of their convertible debentures. | 2010-09-01 |
| Paul Gardner | BUY | Firm Cap Mortgage Investment Trust | FC.UN-T | 11.850 | Very good management. Focused on smaller community centre shopping areas and tend to take long-term views on their assets. (He owns the bonds, not the stocks.) | 2010-09-01 |
| Paul Gardner | BUY | Artis Real Estate Investment Trust | AX.UN-T | 12.440 | Distribution is 115% but is dropping down each quarter. Well managed and has excellent properties and are well funded. Acquiring and growing. 8.8% yield. | 2010-09-01 |
| Charles Dillingham | BUY | Homburg Canada REIT | HCR.UN-T | 10.910 | Low payout ratio and relatively conservative product mix. Good at managing properties. Doesn't expect much to happen with this. 8.8% yield. | 2010-09-01 |
| Paul Gardner | TOP PICK | Leisureworld Senior Care Corp | LW-T | 9.890 | Operate long-term care facilities in Ontario where they get provincial funding. 8.5% yield. Limited competition because of the barriers to entrance in this field. | 2010-09-01 |
| Mason Granger | TOP PICK | Bonterra Energy Corp | BNE-T | 39.700 | Very oil weighted. Resisted the urge to grow by acquisition so tend to be less liquid but have a great asset. A lot of Cardium locations with a significant inventory ahead of them. Finding/development costs are about $7 only. | 2010-08-31 |
| John Stephenson | BUY | Bonterra Energy Corp | BNE-T | 39.700 | Has some perspective wells. A low cost operator and developer. Feels comfortable with this name. | 2010-08-31 |
| John Stephenson | TOP PICK | BP PLC | BP-N | 34.830 | You’re sitting listening to all the headline risk. With the US court system, it will be years, probably 12. Thinks risks are overblown. Gulf of Mexico is only 10% of cash flow. There’s been no impact on aggregate cash flow to Gulf Coast businesses from the spill. They have been flat year over year. BP are strong fundamentally. This is one of the great energy companies. | 2010-08-31 |
| John Stephenson | PAST TOP PICK | Canadian Natural Rsrcs | CNQ-T | 34.300 | (Top Pick Sept 28/09, Down 6% total return) He boosted his weighting in the fund. This and SU are two of the best names in the large cap space. This is a name that is very attractive. | 2010-08-31 |
| John Stephenson | DON'T BUY | Compton Petroleum | CMT-T | 0.410 | Would be one of his least favourite names in this space. High exposure to Natural Gas. Avoid. | 2010-08-31 |
| John Stephenson | HOLD | Connacher Oil and Gas | CLL-T | 1.200 | (Market Call Minute) High levels of debt | 2010-08-31 |
| Mason Granger | Comment | Crescent Point Energy Corp | CPG-T | 37.550 | Good land position, depth of inventory and economics. Pretty excited about what they are doing in terms of getting water flood pilots up and running. | 2010-08-31 |
| John Stephenson | BUY | Crescent Point Energy Corp | CPG-T | 37.550 | This is a name that is a street darling. Guys running it have done an incredible job of putting together a set of world-class assets. If you compare valuation to others, it is not a cheap stock, but is attractive to investors. | 2010-08-31 |
| John Stephenson | PAST TOP PICK | Encana Corp | ECA-T | 29.250 | (Top Pick Sep 28/09, Down 8.3% total return) They did a great job of hedging and posted some great numbers. Had best potential going forward, but issue is that it is becoming increasingly difficult to hedge. They want to grow production but everyone is scratching their heads. | 2010-08-31 |
| Mason Granger | Comment | Opti Canada Inc. | OPC-T | 1.030 | Shares have been particularly weak over the last couple of months because they did a fairly large debt deal. Company has piled on a massive amount of debt onto their capital structure. Have 35% interest in the Long Lake project, which has struggled. | 2010-08-31 |
| Mason Granger | Comment | NAL Oil & Gas Trust | NAE.UN-T | 10.730 | When converting he expects they will right size distributions to give a combination of growth and income. Looking for 3% growth so the dividend would come down modestly. | 2010-08-31 |
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| John Stephenson | HOLD | NAL Oil & Gas Trust | NAE.UN-T | 10.730 | (Market Call Minute) Waiting on distribution policy. | 2010-08-31 |
| John Stephenson | HOLD | Perpetual Energy | PMT-T | 4.940 | This stock is a trader. Only 5 years of reserve life. They are successfully avoiding some of the shallow gas. They are gas weighted. | 2010-08-31 |
| John Stephenson | BUY | Pembina Pipeline Income Trust | PIF.UN-T | 19.600 | (Market Call Minute) | 2010-08-31 |
| John Stephenson | HOLD | Penn West Energy Trust | PWT.UN-T | 20.030 | It’s a great strategy that they have with China and Mitsubishi. In both cases the partner is picking up more than half the cost. This name he rates a hold because it is quite large (5’th). Everything is looking good but they have not given any clarity as to what will happen post-conversion. | 2010-08-31 |
| John Stephenson | HOLD | Petrobank Energy and Resources | PBG-T | 36.980 | It’s cheap. It definitely is undervalued. Hold on to it. | 2010-08-31 |
| John Stephenson | DON'T BUY | Provident Energy Trust | PVE.UN-T | 6.680 | (Market Call Minute) They are a mid stream company right now. Undervalued by no catalyst to the upside. | 2010-08-31 |
| Mason Granger | BUY | Fairborne Energy Ltd. | FEL-T | 4.250 | Looking at this one closely. Was a trust and converted to a non-dividend paying E&P company. Has been in the “show me” penalty box for while. If they can hit exit guidance and demonstrate success in the Wilrich (Alberta) play there’ll be a gradual re-rating. | 2010-08-31 |
| John Stephenson | TOP PICK | Schlumberger Ltd. | SLB-N | 53.330 | If you believe we are going into a commodity boom in the next year, you go into this one. Best technology and best mix of products. | 2010-08-31 |
| Mason Granger | DON'T BUY | Suncor Energy Inc | SU-T | 32.310 | Looks like they are turning the corner. Had a rough start to 2010 with operational upsets as well as the pain of the merger process with Petrocan. Have a firebag expansion coming on next year so there will be some incremental production growth. There are better places to be. | 2010-08-31 |
| John Stephenson | BUY on WEAKNESS | Vermilion Energy Trust | VET.UN-T | 35.670 | You have to wait on the commodity boom story. Conversion issue is behind you because their income is international. | 2010-08-31 |
| Mason Granger | BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Natural gas. Currently we are reaching a peak in terms of pessimism. An opportunity to get invested in high-quality natural gas stocks. Might not be at the bottom but it is certainly coming. Forward future strip has been coming down and you have to go out to about 2015 to find prices above $6. In a seasonal trough where we are maximizing storage. | 2010-08-31 |
| Mason Granger | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Oil. Some technicians are calling for oil to weaken to $60 or maybe even $55 this fall. He'll wait to see if this plays out. When he sees oil getting up to $85, he lightens up but when it gets down to high $60's or low $70's, he starts to chip away at names he likes. | 2010-08-31 |
| John Stephenson | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Natural Gas: Would all trucks end up running on Natural Gas? Would be at least 10 year to establish the infrastructure and regulatory system. | 2010-08-31 |
| John Stephenson | N/A | A Comment -- General Comments From an Expert | A Commentary | 0.020 | The world is very concerned about the numbers out of the US and out of China. There’s a lot of concern about growth globally. This is the opportunity to pick away at the better quality names. The talk of double dip is overblown. You need negative data to get into double dip territory. The FED can print money. | 2010-08-31 |
| Mason Granger | BUY | Delphi Energy Corp. | DEE-T | 2.430 | Hedged about 50% of their gas production and have a pretty good inventory ahead of them. | 2010-08-31 |
| Mason Granger | TOP PICK | Trilogy Energy Trust | TET-T | 11.050 | Great success drilling Montney. Very low finding/development costs. One that he could sleep at night with. | 2010-08-31 |
| John Stephenson | BUY | Daylight Resources Trust | DAY-T | 9.110 | Has been buying some. 50/50 Gas/Oil. Quiet on the news front and thinks there will be some announcements soon. Pretty good time to get into this one. | 2010-08-31 |
| John Stephenson | SELL | Galleon Energy Inc. | GO-T | 3.520 | Completed strategic review and no buyer could be found. Struggling to meet production. A name to sell or at least not buy. | 2010-08-31 |
| John Stephenson | BUY | Pengrowth Energy Trust | PGF.UN-T | 10.330 | Would recommend if you are looking 3-5 years out. They have some great properties. Just starting to apply horizontal drilling. Thinks we will have a bull market in commodities next year in the second quarter. Buy a trust for the yield while you wait. Would recommend AET over this one. | 2010-08-31 |
| Mason Granger | STRONG BUY | Bankers Petroleum | BNK-T | 6.820 | Forecasting 15,000 barrels per day by the end of 2010. Good management. Exclusive access to largest onshore oilfield in Europe (Albania) and have 3 rigs running and expected to add a 4th in Q1. Once they have proved up, he expects the company to be sold at a big premium. | 2010-08-31 |
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| John Stephenson | BUY | Bankers Petroleum | BNK-T | 6.820 | An international, oil weighted story and the market is keying off on this. | 2010-08-31 |
| John Stephenson | PAST TOP PICK | Hess Corp. | HES-N | 50.250 | (Top Pick Sept 28/09, Down 7.6%) A good name and one you would consider. The growth story was front a center in last part of ’09 with ‘V’ shape recovery and since then we are talking about ‘U’ shaped or double dip. | 2010-08-31 |
| Mason Granger | BUY | Orleans Energy Ltd. | OEX-T | 2.600 | Small natural gas company that you probably can't go wrong on. Good catalyst ahead of it, | 2010-08-31 |
| Mason Granger | DON'T BUY | Ithaca Energy Inc. | IAE-X | 1.830 | Very cheap at about 1.9X Debt Adjusted Cash Flow basis. Did large equity financing at inopportune times over the last couple of years. Recently did a substantial equity raise. Fully financed until about 2013 for the 2 North Sea projects. Would like to own it when it reaches full development. | 2010-08-31 |
| Mason Granger | TOP PICK | Canacol Energy Ltd. | CNE-X | 1.390 | Junior Colombian oil player. Excellent management. Impressive land spread with exposure to about 5 to 7 billion barrels of heavy oil in place. Also some exciting exploration prospects in Brazil and Guyana. | 2010-08-31 |
| Mason Granger | Comment | PetroBakken Energy | PBN-T | 20.130 | Prefers Crescent Point Energy (CPG-T), which has better land position, better depth of inventory and better economics. Has some pretty significant drilling catalysts in the Cardium to come this fall, so wouldn't count them out yet. | 2010-08-31 |
| John Stephenson | HOLD | PetroBakken Energy | PBN-T | 20.130 | It is cheap. Everyone will look at it and say it is attractive that way. They haven’t put up the quality of numbers over time. Don’t buy any more. If they can show some reasonable production, then it will be different. | 2010-08-31 |
| Mason Granger | Comment | Emerge Oil & Gas Inc. | EME-T | 3.180 | Inventory of about 150 cold heavy oil production wells. Also an inventory of reactive locations of existing wells. Potential to grow significant production over the next couple of years. Low visibility beyond 2 or 3 years of production. | 2010-08-31 |
| John Stephenson | TOP PICK | Atlas Energy Inc. | ATLS-Q | 27.970 | Great company. Shale play. Production growth of 30%/year for the next 5 years. Lots of potential upside. | 2010-08-31 |
| Rick Stutchberry | BUY on WEAKNESS | Agrium | AGU-T | 73.660 | His overview on the market is that you don't have to chase anything. It will back and fill giving you an opportunity. September-October seasonally are not the best months for the stock market historically. | 2010-08-30 |
| Jason Donville | Comment | Bank of Nova Scotia | BNS-T | 51.900 | Earnings are coming out tomorrow and he would bet they are positive. Not particularly cheap right now. Always well managed. Expecting the moratorium on bank dividends will be lifted in the near future. | 2010-08-30 |
| Rick Stutchberry | Comment | Canadian Natural Rsrcs | CNQ-T | 34.550 | Cenovus (CVE-T) versus Canadian Natural Resources (CNQ-T)? Both are good companies and both oil oriented with conventional and crude. He prefers something with a significant yield so he owns Canadian Oil Sands (COS.UN-T) instead. (See Top Picks.) | 2010-08-30 |
| Rick Stutchberry | TOP PICK | Canadian Oil Sands Trust | COS.UN-T | 25.520 | Likes the sector. Sees this as a core position and buys on pullbacks. Distribution of 8% could be cut as they haven't earned it in the last quarter but is still worth owning, as the business itself is very solid. | 2010-08-30 |
| Rick Stutchberry | PARTIAL SELL | Canadian Pacific Rail | CP-T | 62.240 | Strategically, when things move up, you can trim a little and keep the core position if you like it. He is positive on the emerging markets and this is a major shipper for that. | 2010-08-30 |
| Jason Donville | TOP PICK | DirectCash Income Fund | DCI.UN-T | 18.500 | Largest operator of independent ATMs in Canada. Also do point-of-sale terminals and debit machines. Yield of 7.4%. Trades at around 8X PE. Growing at 20% a year. | 2010-08-30 |
| Rick Stutchberry | BUY on WEAKNESS | Encana Corp | ECA-T | 29.390 | Opportune time to start looking at natural gas. Expects gas prices to do better between now and early next year. Do you want big producers or would you prefer to be paid while you wait? His strategy is to get paid while waiting so prefers Enerplus (ERF.UN-T) with the 9% yield or Vermilion (VET.UN-T) with 6%-7% yield. | 2010-08-30 |
| Jason Donville | DON'T BUY | Flint Energy Services Ltd | FES-T | 12.950 | Oil/gas services. Good company but is being outshone by a number of Calgary companies that are positioned in the sexier parts of the sector. Would prefer Canadian Energy Services (CEU-T) or Total Energy (TOT-T) instead. | 2010-08-30 |
| Jason Donville | TOP PICK | Home Capital Group | HCG-T | 43.040 | Financial services. 6.9X earnings. Growth is at 25% a year. Expect they will raise their dividend by 50% once the Bank of Canada lifts the lid on bank/trust companies. 1.5% yield. | 2010-08-30 |
| Jason Donville | BUY | Imperial Metals Corp | III-T | 15.660 | Things are looking good for them. Good cash flow and an excellent mine. Key issue that affected them in the last 3-4 months is that a lot of fund managers have taken the “risk trade” off. Long-term story but could trade at $25-$30. | 2010-08-30 |
| Jason Donville | SELL | IGM Financial Inc. | IGM-T | 39.850 | Very solid company with a solid dividend but there is not a lot of growth and doesn't get him excited. There's nothing in the asset management area that really excites him. | 2010-08-30 |
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| Rick Stutchberry | DON'T BUY | Manulife Financial | MFC-T | 11.920 | Hasn't owned for several years. Doesn't know if it is worth the risk at this price. Not worth chasing. Prefers Great West (GWO-T), which has a 5% yield. | 2010-08-30 |
| Jason Donville | SELL | Manulife Financial | MFC-T | 11.920 | Nobody knows where this company is going to go from here. Pure speculation. | 2010-08-30 |
| Rick Stutchberry | Comment | National Bank of Canada | NA-T | 61.220 | More bullish on the Canadian banking sector now with the improving balance sheets and lower loan loss provisions. Very good, solid domestic bank but he prefers others. (See Top Picks.) | 2010-08-30 |
| Rick Stutchberry | WATCH | Research In Motion | RIM-T | 48.370 | Almost at the point where you wonder if it's as a value play. External forces of competition and political pressures have been problems. He would wait until the dust settles. | 2010-08-30 |
| Rick Stutchberry | TOP PICK | Royal Bank | RY-T | 51.250 | Likes their core business and have owned them for years. Buying below $49. Loan loss provisions are coming down and the key banking part is good. | 2010-08-30 |
| Jason Donville | PAST TOP PICK | Royal Bank | RY-T | 51.250 | (A Top Pick Dec 3/09. Down 8%.) Got this one wrong but still likes. Good dividend. | 2010-08-30 |
| Rick Stutchberry | HOLD | Viterra Inc | VT-T | 8.450 | Has been particularly disappointing. Supposed to be a growth stock and integration of the Australian acquisition was slower than expected. Still think it's a strategic move. Likes the agriculture sector. Expect it will take till next year for earnings to start to fire up. | 2010-08-30 |
| Jason Donville | SELL | Sunlife Financial | SLF-T | 25.010 | Market has concerns about future liability, debt portfolios and how they can meet future obligations in a very low interest rate environment. Wait for one good quarter before buying. | 2010-08-30 |
| Rick Stutchberry | TOP PICK | Toronto Dominion | TD-T | 71.610 | Has done a strategic job of getting into the US market and operating their acquisitions. He is buying below $70. There is no rush. | 2010-08-30 |
| Jason Donville | SELL | Yellow Pages Income Fund | YLO.UN-T | 5.190 | Wouldn't own this one based on how the whole Yellow Pages phenomena is being eradicated by the Internet. | 2010-08-30 |
| Jason Donville | DON'T BUY | Student Transport of America Ltd. | STB-T | 5.800 | Yield is probably sustainable. Strong cash flow but a lot of that comes from depreciation of fixed assets rather than amortization of tangible assets. | 2010-08-30 |
| Jason Donville | DON'T BUY | Quest Capital Corp. | QC-T | 1.590 | Recently tied up with Sprott Assets so stock moved up quite nicely but earnings have still not materialized out of the business plan so it is still a resource lender that will try to find its way going forward. | 2010-08-30 |
| Jason Donville | BUY | XS Cargo Income Fund | XSC.UN-X | 0.850 | Interesting turnaround play. Got itself into some trouble a couple of years ago and thinks there is still some room to run in this one. Good management. Coming up on his radar screen now. | 2010-08-30 |
| Jason Donville | HOLD | First National Financial | FN.UN-T | 17.230 | Had an expectation of mortgage origination growth but it came in slower than expected and affected Q1 and Q2 numbers. Building a nice base at the current level. Good yield. | 2010-08-30 |
| Jason Donville | PAST TOP PICK | Carfinco Income Fund | CFN.UN-T | 5.000 | (A Top Pick Dec 3/09. Up 181%.) Vehicle loans. Use GPS on the cars they finance and loan losses are coming down very rapidly. Takeover candidate. Still a buy. | 2010-08-30 |
| Jason Donville | SELL | Western Financial Group Inc. | WES-T | 2.210 | ROE has perennially been very low around 6%-7%. Also they do one dilutive financing after another. | 2010-08-30 |
| Jason Donville | DON'T BUY | Clarke Inc. | CKI-T | 4.010 | Was a lot of hype about the guy behind the company being another Warren Buffett and seems to have a stable of pretty ordinary companies right now but some of them may be value traps. Stock is close to being fairly valued. | 2010-08-30 |
| Jason Donville | SELL | Zenn Motor Company Inc. | ZNN-X | 1.670 | His analysis of the income statement and balance sheet. Running out of money very quickly. | 2010-08-30 |
| Jason Donville | Comment | Potash One Inc. | KCL-T | 3.190 | Stock had a big jump today. Potash (POT-T) is getting a lot of play, which is affecting other potash companies. When the feeding frenzy around Potash dies off, the stock price can settle down very quickly. | 2010-08-30 |
| Jason Donville | TOP PICK | Constellation Software Inc. | CSU-T | 41.350 | Software that are probably in 35-40 different silos. Very good at identifying best-of-breed software and making acquisitions. Everything from transportation to government services to housing, etc. Capital management of this company is superb. Growing at about 35% per annum. Very undervalued. | 2010-08-30 |
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| Rick Stutchberry | Comment | Cenovus Energy | CVE-T | 28.320 | Cenovus (CVE-T) versus Canadian Natural Resources (CNQ-T)? Both are good companies and both oil oriented with conventional and crude. He prefers something with a significant yield so he owns Canadian Oil Sands (COS.UN-T) instead. (See Top Picks.) | 2010-08-30 |
| Jason Donville | PAST TOP PICK | Pethealth Inc. | PTZ-T | 1.260 | (A Top Pick Dec 3/09. Down 21%.) Sold his holdings at about $1.75 (up 9%) after a poor Q1 showing. Expecting a good comeback in 2011. | 2010-08-30 |
| Jason Donville | Comment | Sylogist Ltd. | SYZ-X | 2.380 | Have done a terrific job of building themselves back up after losing Alberta government contracts in 06. Numbers look really good and will be meeting with management shortly. Looks like they'll have a promising future. 2.9% yield. | 2010-08-30 |
| Jason Donville | HOLD | Enwave | ENW-X | 1.250 | Dehydrated foods technology. Has had one great announcement after another. Seem to have crossed over a threshold now. Amount of money they lose on a quarterly basis is small and have about $6 million in cash. | 2010-08-30 |
| Jason Donville | Comment | Olympia Financial Group | OLY-X | 33.250 | Provincially regulated trust Company. Just reported Q2 earnings and the results were fantastic. 6% dividend is very safe. Very well managed company. Very illiquid in that it can go weeks without trading any shares. | 2010-08-30 |
| Don Vialoux | BUY | Agrium | AGU-T | 73.060 | Seasonal strength for agriculture stocks is from the end of June until the end of December. Technically it is getting very close to a resistance point and if it breaks through this stock will go significantly higher. | 2010-08-27 |
| Karl Berger | WEAK BUY | Allied Irish Bank PLC | AIB-N | 2.060 | Have a major job in repairing their capital ratios and balance sheet. Thinks there will be significant asset sales to accomplish this, which makes it difficult to evaluate. OK for risk capital and you are interested. | 2010-08-27 |
| Karl Berger | PAST TOP PICK | A T & T US | T-N | 26.940 | (A Top Pick Aug 25/09. Up 8.23%.) Strong dividend yield of over 6%. Still likes. | 2010-08-27 |
| Karl Berger | DON'T BUY | CitiGroup | C-N | 3.760 | Balance sheets of all US major banks are stronger than they were. Will be interesting to see impact of credit write-downs and provisions for bad loans. Major concern is another soft period in US housing. This would not be his choice because of their dependence on the capital market side of things. | 2010-08-27 |
| Karl Berger | HOLD | Diageo PLC | DEO-N | 66.110 | Just reported and earnings were uninspiring but is reflective of the economic climate. Does better when people are consuming the high-end spirits. Solid dividend and keep raising it. 4.4% dividend. | 2010-08-27 |
| Don Vialoux | BUY | Eldorado Gold | ELD-T | 20.670 | Just had a breakout this week and the stock has very positive momentum. Gold and gold stocks are just getting started into their seasonal strength, which runs from the 3rd week in July until the 3rd week in September. | 2010-08-27 |
| Don Vialoux | HOLD | Great Basin Gold | GBG-T | 2.250 | Just had a nice breakout this week. Stock has established a new upward trend. Period of seasonal strength is just starting to come in. Stick with it until December and then take your profits. | 2010-08-27 |
| Don Vialoux | HOLD | Intel | INTC-Q | 18.370 | Pretty strong seasonality, usually from Oct 9 until Jan 17 when the technology sector picks up. Technically it is not looking very interesting at this time. This is going to be a good one. | 2010-08-27 |
| Karl Berger | PAST TOP PICK | Johnson & Johnson | JNJ-N | 57.600 | (A Top Pick Aug 25/09. Down 3.12%.) Ran into some problems with some product recalls but it is still etched in the cheap. | 2010-08-27 |
| Don Vialoux | DON'T BUY | Methanex Corp | MX-T | 21.740 | Basic materials stocks have seasonality from late October through until May. Technically, the stock is struggling and it probably will break its support level into the month of September. | 2010-08-27 |
| Karl Berger | Comment | Motorola | MOT-N | 7.680 | Has caught his attention in terms of the competition they are providing. | 2010-08-27 |
| Karl Berger | DON'T BUY | Nokia | NOK-N | 8.660 | Sold his holdings about 1.5 years ago. Not following up on the strength they had in emerging markets and are being taken over by Google and Apple. Has become a software game as opposed to a hardware game. | 2010-08-27 |
| Don Vialoux | HOLD | Red Hat Inc. | RHT-N | 35.160 | Historically technology stocks don't do very well at this time of year, especially in Aug and Sept. This one has been the exception. Just broke a key resistance level this week. Going higher when the rest of the sector has been going lower. | 2010-08-27 |
| Karl Berger | TOP PICK | Telefonica S.A. | TEF-N | 67.050 | Have both fixed line and wireless but the wireless mix is going to be more significant going forward. Also completed an acquisition in Brazil that is expected to be accretive of earnings next year. 7.4% dividend. | 2010-08-27 |
| Don Vialoux | HOLD | Viterra Inc | VT-T | 8.700 | Has been involved with a number of transactions, which have had a significant effect on it. The season for this one is around the end of June until the end of December. This stock is focused on Western Canada, which has had some trouble with their crops. Books but this is now over with. | 2010-08-27 |
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| Don Vialoux | Comment | Suncor Energy Inc | SU-T | 32.700 | Has been an under performing stocks in the energy sector. Wouldn't be surprised to see this break short-term support over the next few weeks. Historically it has bottomed right around 3rd week of November and then does well until the 1st week of May. | 2010-08-27 |
| Don Vialoux | HOLD | Yamana Gold Inc. | YRI-T | 10.810 | Disconnection between the price of gold and this stock? Has under performed the sector, but even this stock is starting to go higher with seasonality. | 2010-08-27 |
| Karl Berger | Comment | Telus Corp | T-T | 44.250 | Good wireless exposure and growth prospects but concerned it is getting a little too high but that is 15%-20% away. 4.5% yield. | 2010-08-27 |
| Karl Berger | TOP PICK | Teva Pharmaceutical | TEVA-Q | 50.350 | Primarily a generic drug manufacturer. Market has overreacted with the challenge it is facing with from a competitor on one of its branded drugs. 1.5% yield. | 2010-08-27 |
| Don Vialoux | Comment | Verizon Communications | VZ-N | 29.840 | Fundamentally it has shown consistent growth. Everybody loves wireless. Chart shows it has formed a trading range and it is currently testing the top of it. If you are holding up her dividends, continue. | 2010-08-27 |
| Don Vialoux | WAIT | Nucor Corp. | NUE-N | 37.250 | Had difficulties during the last week or so. Broke a key support level this week. Trend is still on the downside. Seasonally materials stocks work very well from beginning of Nov until May. | 2010-08-27 |
| Karl Berger | PAST TOP PICK | A Comment -- General Comments From an Expert | A Commentary | 0.020 | (A Top Pick Aug 25/09. Up 16.68%.) Province of Ontario (Australia$) bond maturing 2016 with about a 6.75% yield to maturity. Made money on both currency and the bond itself. | 2010-08-27 |
| Karl Berger | DON'T BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Japan? Strong currency in an exporting nation is not good. Not fairly attractive from a demographic standpoint. Has debt issues and a stagnant economy. | 2010-08-27 |
| Don Vialoux | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Historically, midterm election year markets go higher in 3rd week of April and tend to move lower until end of September when they bottom. Then go higher for the next 12 months. Expected to be end of October this year because Bush tax cuts are coming off at yearend and a lot of people will want to claim capital gains. Market will be so oversold it will give a classic buying opportunity. | 2010-08-27 |
| Don Vialoux | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Gold. IMF still has 150 tons of its original form and 50 tons of gold. They are under pressure to get rid of the last 150 and this is overhanging the market and keeping gold from going to an all-time high. If they were to blow out the last 150, look for gold to spike to all-time highs. He has a technical target of $1440 by year-end based on this scenario. | 2010-08-27 |
| Don Vialoux | DON'T BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Natural gas. An ugly chart. Just broke a key support this week. Historically it does well the middle of Sept until the end of Dec but it hasn't happened in the last couple of years. | 2010-08-27 |
| Don Vialoux | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Oil service stocks. The bottom is normally reached around the 3rd week of Nov but the real sweet spot is from end of Jan to around the 1st week in May. You might consider HOLDRs Oil Services (OIH-N) ETF at that time. | 2010-08-27 |
| Don Vialoux | BUY on WEAKNESS | Silver Wheaton | SLW-T | 23.940 | Silver/silver stocks are generally tracking gold stocks and currently are outperforming them. Technically looks very good and you want to hold at least until end of September and he suspects right through until end of December. | 2010-08-27 |
| Don Vialoux | HOLD | Osisko Exploration Ltd. | OSK-T | 13.990 | Base metals/gold. Likes the stock because of the gold. Technically it looks like a dream. Historically, base metal stocks do very well from the 3rd week in November until the 1st week in May. Think the trading this year will be exceptional because the Chinese are buying commodities. | 2010-08-27 |
| Karl Berger | TOP PICK | Genivar Income Fund | GNV.UN-T | 26.850 | Engineering services firm out of Quebec. Good management that have grown organically and through acquisitions through the years. Nice mix between government and private contracts. Well positioned for any economic rebound. Expect 6% yield to be maintained after conversion Jan 1. | 2010-08-27 |
| Karl Berger | BUY | Bell Aliant | BA.UN-T | 25.210 | In a good space at this time with strong free cash flow, strong dividend yield and a good track record. 11.5% yield. (Prefers Telus (T-T) with its wireless exposure and better growth prospects.) | 2010-08-27 |
| Don Vialoux | TOP PICK | SPDR Technology E.T.F. | XLK-N | 21.040 | Technology ETF. Buy in October at the low and sell it in the 2nd week of January when the Las Vegas Consumer Electronic show happens. This will be a great year for technology. | 2010-08-27 |
| Don Vialoux | HOLD | Thompson Creek Metals | TCM-T | 9.100 | This should move from around the end of Nov through to May of each year but this one has not been following the trend of other base metal securities. Technicals are not looking that good and it looks like it is ready to break its support level. | 2010-08-27 |
| Karl Berger | Comment | Banco Santander SA | STD-N | 11.890 | One of the more resilient Spanish banks. Has South American exposure as well. The challenges with the Spanish banks make them difficult to evaluate. Doesn't think all of the bad news is out in terms of the European banking system. 6% yield. | 2010-08-27 |
| Don Vialoux | TOP PICK | CASH | CASH | 0.000 | He is over 80% cash right now because the uncertainty of the midterm election and market should bottom in October. The low for the 4th year cycle is coming in the 4th quarter of this year. Watch for the low and then get back into the market. | 2010-08-27 |
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| Don Vialoux | DON'T BUY | PetroBakken Energy | PBN-T | 20.060 | Seasonality for oil stocks basically starts 3rd week in November and goes higher right through to the 1st week in May. The real sweet spot is from the end of January to the 1st week in May. Technically, the chart on this one does not look good. | 2010-08-27 |
| Don Vialoux | PAST TOP PICK | BMO S&P/TSX Base Metals ETF | ZMT-T | 14.630 | (A Top Pick Feb 3/10. Up about 14% as of early May when it was to be sold.) S&P/TSX Base Metals ETF. | 2010-08-27 |
| Don Vialoux | PAST TOP PICK | BMO S&P/TSX Oil & Gas ETF | ZEO-T | 14.010 | (A Top Pick Feb 3/10. Up about 10% as of May 9th when it was to be sold.) S&P/TSX equal weighted Oil & Gas ETF. | 2010-08-27 |
| Don Vialoux | PAST TOP PICK | ETFS Physical Platinum Shares | PPLT-N | 152.895 | (A Top Pick Feb 3/10. Up about 17% as of the end of May when it was to be sold.) Physical platinum. | 2010-08-27 |
| Don Vialoux | TOP PICK | Market Vectors Jr Gold Miners ETF | GDXJ-N | 30.300 | Market Vectors Jr Gold Miners ETF. About 58 middle to small cap gold producers. 65% are Canadian. Bullish on gold. He will buy it and hedge it based on the possibility of currency situation. | 2010-08-27 |
| Paul Harris | BUY | Altria Group Inc | MO-N | 22.610 | (Market Call Minute.) A great company. If you're comfortable with cigarettes and has a great yield. Good margins. | 2010-08-26 |
| Paul Harris | BUY | A T & T US | T-N | 26.700 | Great story at these levels. Double-digit earnings growth going into 2011. Smart phone and the phone business is going to grow so is expecting higher margins. 6.5% yield. | 2010-08-26 |
| Paul Harris | PAST TOP PICK | Bank of America | BAC-N | 12.470 | (A Top Pick Sept 1/09. Down 24%.) Had run up to about $20 but has come back down again. Still likes the story and the US banking industry as a whole. They don't lend money, buy treasuries and the balance sheets are going to look fantastic in a year or two. | 2010-08-26 |
| Michael Decter | BUY | Bank of Nova Scotia | BNS-T | 50.510 | Very solid bank. As growth returns in the world economy, this bank has some important upsides being the dominant bank in the Caribbean. | 2010-08-26 |
| Paul Harris | TOP PICK | BCE Inc. | BCE-T | 32.650 | Probably not a lot of growth but what is really key is that these companies wanted to be Internet companies, made acquisitions, and then sold them all and have now reverted to being a utility. Throwing off lots of free cash. Great dividend. | 2010-08-26 |
| Michael Decter | TOP PICK | iShares DEX Universe Bond ETF | XBB-T | 30.270 | Universal Canadian bond fund. Rather than holding money in cash or bankers acceptances that are paying less than .05%, this one yields about 3.9%. When interest rates start to rise, you might not want to be in this one. | 2010-08-26 |
| Paul Harris | DON'T BUY | Diageo PLC | DEO-N | 65.260 | (Market Call Minute.) The only problem is that organic growth is only 2%. Spent about 14% in marketing. Good thing is they throw off $2 billion in free cash flow and increased their dividend by 6%. Fairly valued. | 2010-08-26 |
| Michael Decter | BUY | Just Energy Income Fund | JE.UN-T | 13.570 | Sell fixed-price contracts for natural gas. Terrific prospects. Have done a US acquisition, which should take them into some exciting new growth markets. 9% yield. | 2010-08-26 |
| Paul Harris | DON'T BUY | General Electric | GE-N | 14.500 | GE Capital was driving them for many years and that hurt them in 2008. Other parts of the business are very good. Doesn't think it will ever get the valuation that it had 5 years ago. Recent acquisitions have been higher risk. | 2010-08-26 |
| Paul Harris | PAST TOP PICK | George Weston Ltd. | WN-T | 82.190 | (A Top Pick Sept 1/09. Up 47%.) Sold his holdings at about $74. Fairly valued at these levels. | 2010-08-26 |
| Paul Harris | DON'T BUY | Goldcorp Inc | G-T | 45.850 | Likes gold but prefers Agnico-Eagle (AEM-T) as there is a better opportunity for growth. | 2010-08-26 |
| Paul Harris | TOP PICK | Goldman Sachs | GS-N | 141.810 | Think they have settled their issues with the SEC. Trades at 1.1X Book. Has one of the best investment banking franchises in the world. | 2010-08-26 |
| Michael Decter | PAST TOP PICK | Hudbay Minerals Inc. | HBM-T | 14.460 | (A Top Pick July 20/09. Up 74.88%.) Has some good room ahead of it. | 2010-08-26 |
| Paul Harris | BUY | HSBC Holdings P L C | HBC-N | 48.930 | (Market Call Minute.) Great global franchise in banking. Very good company and well run. | 2010-08-26 |
| Michael Decter | TOP PICK | Inter Pipeline Fund | IPL.UN-T | 13.010 | Buy below $13. Good yield. Big addition to the revenue coming on when their corridor pipeline comes on. There is a prospect that in the next year or so they might raise their distribution. Will remain as an income trust. 7% yield. | 2010-08-26 |
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| Paul Harris | BUY | Johnson & Johnson | JNJ-N | 57.800 | Currency is an important aspect when buying a US stock but you also want to look for a higher rate of return to compensate for the currency risk. This is a great company with a great ROE and a decent yield. Long-term hold. | 2010-08-26 |
| Paul Harris | BUY on WEAKNESS | Manulife Financial | MFC-T | 11.680 | Difficult story. Would probably buy if it got to $10 again. Missed their capital ratios and investors feel they are very much tied to the equity market. Very hard for insurance companies to operate in this low interest-rate environment. | 2010-08-26 |
| Paul Harris | PAST TOP PICK | Microsoft | MSFT-Q | 23.820 | (A Top Pick Sept 1/09. Up 1%.) Had very strong numbers and Windows 7 is a very good product but the stock does not go up. There should be some change at the top before the stock moves up | 2010-08-26 |
| Michael Decter | BUY | Norbord Inc. | NBD-T | 10.840 | Low cost producer of oriented strand board. Stock has come off a good deal because of fears of weak US housing starts. Will take a couple of quarters but it is a well managed company and will be a survivor. | 2010-08-26 |
| Michael Decter | Comment | Niko Resources | NKO-T | 103.250 | Looking for the right entry point and will be buying. Would prefer it in the $90-$100 range but will take it in this range. | 2010-08-26 |
| Paul Harris | DON'T BUY | Nokia | NOK-N | 8.720 | (Market Call Minute.) | 2010-08-26 |
| Paul Harris | DON'T BUY | Research In Motion | RIM-T | 49.450 | Very cheap at almost 8X next year's earnings. Make lots of money and lots of free cash flow. Product selling price continues to go down. Was a great enterprise company but didn't make a great product for retail. | 2010-08-26 |
| Paul Harris | BUY | Telefonica S.A. | TEF-N | 64.650 | Unique company because not only does it have a franchise on wireless and wire line in Spain, but have the largest franchise in Latin America, one of the fastest growing areas globally. Yield of 7.6%. | 2010-08-26 |
| Paul Harris | BUY | Royal Bank | RY-T | 48.950 | (Market Call Minute.) Good time to buy this one. Great company. | 2010-08-26 |
| Michael Decter | PAST TOP PICK | Russel Metals | RUS-T | 19.450 | (A Top Pick July 20/09. Up 34.78%.) Holds some of their convertible debentures but not the shares. | 2010-08-26 |
| Paul Harris | WEAK BUY | Total SA | TOT-N | 46.640 | There is an issue that the world is slowing down, going to be a double dip and oil has not done anything so this is the opportunity for oil stocks. Oil will eventually be higher than it is today. Because of what happened with BP in the gulf, there will be more restrictions, which cuts off the supply. He would prefer a Canadian company because of currency risks. | 2010-08-26 |
| Michael Decter | Comment | Transalta Corp | TA-T | 21.230 | Has been a steady Eddie. Hs preference has been Trans Canada (TRP-) or Enbridge (E#NB-T) because of scale, nature of the assets and the debt structure. These 2 are probably better choices for growth. | 2010-08-26 |
| Paul Harris | BUY | US Bancorp | USB-N | 20.970 | Very good retail bank and very well run. Super regional. | 2010-08-26 |
| Paul Harris | DON'T BUY | Vodafone Group PLC | VOD-Q | 23.060 | Some inroads in China and India but stuck in an awkward situation with their joint deal with Verizon (VZ-N). Grew in Europe but didn't substantially grow in other parts of the world. 7.5% yield. | 2010-08-26 |
| Paul Harris | BUY | Westshore Terminals Inc. | WTE.UN-T | 18.050 | Largest coal terminal on the west coast. A play on China. This is really a tollbooth, as it doesn't run on the price of coal. Almost $100 million in cash and no debt. 9.1% yield. | 2010-08-26 |
| Michael Decter | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Power Financial (PWF-T) or Power Corp (POW-T)? Both have come off a good deal. Power Financial is overwhelmingly Great West Life (GWO-T) and Investors Group (IGM-T). Power Corp has holdings in China, Europe and Quebec so it is a broader holding company. Your choice. | 2010-08-26 |
| Paul Harris | TOP PICK | Lloyds TSB Group PLC | LYG-N | 4.150 | A purely retail bank in the UK. First-half numbers had revenues of little bit higher, margins are stabilizing and loan losses were down considerably. Expect they will start paying a dividend in the 2nd half of 2011. Trades below Book. | 2010-08-26 |
| Michael Decter | HOLD | Canfor Pulp Income Fund | CFX.UN-T | 13.890 | Increased distributions from $.12 monthly to $.20 and more recently $.22. Appear to be earning $.40 a month so distribution should be secure. Unit prices soft because of fear of a softening in the economy. If you feel economy is going off a cliff, don't buy. (He doesn't!) 19.1% yield | 2010-08-26 |
| Michael Decter | HOLD | Alliance GrainTraders Inc. | AGT-T | 28.470 | Have had 2 soft quarters in terms of margins and is looking to see the next quarter. It should come back, but there are weather issues, margin issues and supply/demand issues. Terrific long-term company. | 2010-08-26 |
| Paul Harris | BUY | Annaly Capital Management Inc. | NLY-N | 17.020 | Basically buys mortgages. A risk is if short-term interest rates go up substantially. Also bought mortgages at premiums so the BV of mortgages is higher and people will pay down higher rates first. 15.9% yield. | 2010-08-26 |
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| Michael Decter | PAST TOP PICK | Consolidated Thompson Iron Mines Ltd. | CLM-T | 8.040 | (A Top Pick July 20/09. Up 115.08%.) Has some good room ahead of it. | 2010-08-26 |
| Michael Decter | BUY | Capital Power | CPX-T | 22.500 | Has taken a small position and likes what he is seeing. Some issues around power rates. | 2010-08-26 |
| Michael Decter | TOP PICK | Canacol Energy Ltd. | CNE-X | 1.350 | Expecting this company to do spectacularly well. Mostly in Colombia, Brazil and Guyana. Drilling some very strong wells and have $80 million to do this. Producing about 3000 barrels a day and expecting to exit at 7000. Good management. | 2010-08-26 |
| Sandy McIntyre | BUY | Aecon Group Inc | ARE-T | 11.270 | Bullish on infrastructure re-build. Continued government spending is very favorable for them. | 2010-08-25 |
| Sandy McIntyre | BUY on WEAKNESS | Canadian Oil Sands Trust | COS.UN-T | 25.290 | The .UN that people are fixated in is leaving at the end of 2010 but it doesn’t change the nature of the dividend. Comfortable with the cash flow stream. All large cap energy stocks are breaking down. | 2010-08-25 |
| Michael Sprung | BUY | Canadian Oil Sands Trust | COS.UN-T | 25.290 | It is a long-term play. It’s going to take a long time to see real returns, especially where oil prices are. Over the next few years they will do well. Well managed. Significant tax pool so they should not have to reduce distribution as much as other companies would have to. | 2010-08-25 |
| Michael Sprung | BUY | CML Healthcare Income Fund | CLC.UN-T | 10.400 | Was ideally suited to be in the income trust model. Labs give a predictable cash flow. They did have some problems in radiology in the States. Second quarter was a little bit of a disappointment. Thinks distribution will be tax adjusted after conversion. A good long-term stock to own. | 2010-08-25 |
| Michael Sprung | BUY | Crescent Point Energy Corp | CPG-T | 36.000 | Has had a significant holding, rode it up and down. It is such a significant company in the shale and gas area. This is a company that could well go back through its highs. Extremely well managed. Maintained distribution through conversion and have enough tax pools to maintain it for a while yet. Sees production increases. A good buy at this price. | 2010-08-25 |
| Sandy McIntyre | PAST TOP PICK | Enbridge | ENB-T | 52.700 | (Top Pick Dec 14/09, Up 10.90%) Still likes it. | 2010-08-25 |
| Michael Sprung | BUY | Enbridge | ENB-T | 52.700 | Well run company. Despite oil spill, stock only took a little dip and was up again. I always looked a little pricey for him. This is a good company to have a position in. Would prefer to buy in low 40’s | 2010-08-25 |
| Michael Sprung | TOP PICK | Encana Corp | ECA-T | 28.150 | Nat Gas is unusually inexpensive at the present. Inventories are full. Anything to do with Nat Gas has been punished. He sees it as compelling. Production could increase significantly (20%) over the next few years. Reasonable yield for a production company. | 2010-08-25 |
| Sandy McIntyre | TOP PICK | Intel | INTC-Q | 18.480 | Global, no net debt, ROE of 22.5%, 9% earnings yield, 11 P/E and 3.4% dividend. If your time-line is 3-10 years you want to own this. It’s cheap. People are fixated on growth. His view is that if capital is at risk, make sure management is protecting your capital and giving you a tangible return on that capital. | 2010-08-25 |
| Sandy McIntyre | SELL | Manulife Financial | MFC-T | 11.770 | Both MFC and SLF have exposure to an annuity product that was sold during the bull market. People are fixated on the hedging on this. He would not be standing there to catch these names. There are insurance names that are not in these products. Move into another insurance name. | 2010-08-25 |
| Sandy McIntyre | BUY | NAL Oil & Gas Trust | NAE.UN-T | 9.960 | In any commodity based income trust, you cannot say a dividend is safe. NAL going into 2011 is likely going to maintain its current dividend but there is always risk it could be reduced if the commodity price falls. | 2010-08-25 |
| Sandy McIntyre | TOP PICK | National Bank of Canada | NA-T | 55.650 | Confident that Canadian economy is ok. No noise around US operations. Tier one capital of 12.6% vs. 7.7% a decade ago. ROE is 18%. Less than 10x earnings. | 2010-08-25 |
| Michael Sprung | HOLD | North West Company Fund | NWF.UN-T | 21.090 | It is a significant holding for him. People are looking for safety. They dominate communities where their stores are. Yield is not too bad. Suspects distribution will be tax adjusted. Well run company. They have franchise area for Giant Tiger. If it goes a few more dollars, they will be tempted to take profits. | 2010-08-25 |
| Michael Sprung | BUY | Penn West Energy Trust | PWT.UN-T | 20.330 | Latest quarter was in line with expectations. It is one of the larger of the energy producer trusts. Thinks it will do quite well. Post change, distribution will be between $1.20 to $1.40. | 2010-08-25 |
| Michael Sprung | SELL ON STRENGTH | Red Back Mining Inc | RBI-T | 29.110 | Options with Warrants: He has not looked at them. Thinks Kinross is paying a pretty hefty price. | 2010-08-25 |
| Michael Sprung | PAST TOP PICK | Viterra Inc | VT-T | 8.660 | (Top Pick Sep 02/09, Down 6%) He thinks they will do extremely well in the next 1 to 2 years. Flooding in western Canada was a problem. | 2010-08-25 |
| Michael Sprung | HOLD | Shoppers Drug Mart Corp | SC-T | 34.650 | What has impacted these stocks is the changes in Ontario and Quebec. The front of store sales had not been as robust as they had hoped. Extremely well run company and at a reasonable price. Dividend is safe. | 2010-08-25 |
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| Michael Sprung | TOP PICK | Stantec Inc | STN-T | 25.280 | (Top Pick Sep 02/09, Down 8.3%) We are seeing a lot of volatility in engineering stocks. They depend a lot on ability of governments to spend money. If we fear another recession, then there may not be a lot of capital to do projects. But they are diversified into buildings and land. Still likes it. Diversified engineering company that does not take on a lot of construction risk, like a lot of its competitors. Broadened foot print in environmental engineering area. Over the next couple of years you will see more significant organic growth as well. | 2010-08-25 |
| Michael Sprung | BUY | Suncor Energy Inc | SU-T | 31.980 | One of his largest holdings in the energy group. A dominant company in Canada. They are going down as the price of energy is going down. He would be buying it at current levels. | 2010-08-25 |
| Sandy McIntyre | SELL | Sunlife Financial | SLF-T | 24.160 | Both MFC and SLF have exposure to an annuity product that was sold during the bull market. People are fixated on the hedging on this. He would not be standing there to catch these names. There are insurance names that are not in these products. Move into another insurance name. | 2010-08-25 |
| Michael Sprung | Comment | Sunlife Financial | SLF-T | 24.160 | This is a bad, bad environment for insurance companies. Sensitivity to equity markets. With rates were they are and the new accounting rules it is difficult for insurance companies. Neither SLF nor MFC are going to disappear. It will take a while for the market to adjust to the new accounting rules. These insurers are slightly oversold. | 2010-08-25 |
| Michael Sprung | HOLD | Yamana Gold Inc. | YRI-T | 10.820 | They are cheap compared to their piers. They went with an organic growth profile instead of acquiring new assets and so on. You should have some exposure to gold. | 2010-08-25 |
| Sandy McIntyre | PAST TOP PICK | Thomson Reuters Corp | TRI-T | 36.280 | (Top Pick Dec 14/09, Up 8.52%) Still likes it. | 2010-08-25 |
| Michael Sprung | PAST TOP PICK | Thomson Reuters Corp | TRI-T | 36.280 | (Top Pick Sep 02/09, Up 10% Total Return) With fears of recession and economic problems and slowdown in the markets, they have pulled back. But they are doing well in other fields – scientific and legal division. Profitability is slowly improving. He likes the formula of rising profitability and dominant player. | 2010-08-25 |
| Sandy McIntyre | DON'T BUY | Trans Canada Corp | TRP-T | 37.330 | The electric business is in the share price. Gas production is being increased in the US and pushing out Canadian exported gas and that is gas that would be on the trans-Canada main line. Prefers Enbridge. | 2010-08-25 |
| Michael Sprung | TOP PICK | TSX Group | X-T | 28.780 | This is the leading market in Canada. They sell a lot of data to the markets. Some investor relations services. Thinks they look attractive.. | 2010-08-25 |
| Michael Sprung | HOLD | Vermilion Energy Trust | VET.UN-T | 34.080 | Thinks it is a very good company – well managed, well diversified. A good company. The problem is that they are expensive. He has never been able to step up to the plate. | 2010-08-25 |
| Sandy McIntyre | TOP PICK | Wal-Mart Stores Inc. | WMT-N | 51.550 | 9% growth on a global company. If you agree with concept that we are looking at a declining standard of living in the western world, they will benefit, not high-end retailers. 13x PE, 2.4% dividend, ROE of over 22%. Risk would be a severe double dip and increased unemployment. | 2010-08-25 |
| Michael Sprung | BUY | Westshore Terminals Inc. | WTE.UN-T | 17.960 | Depends on coal market and on China to a large degree. Reasonable company to hold onto at this point in time. Distribution will have to be adjusted when they convert but it wont be a surprise to the market. Longer term this is a company that should continue to do well. | 2010-08-25 |
| Michael Sprung | DON'T BUY | Yellow Pages Income Fund | YLO.UN-T | 5.130 | 15.6% distribution but you don’t get a lot of capital gains. This is a company that is in a very tough business position. Directories were very profitable. They are diversified in on-line content but it takes a lot of volume to match what they got in print. This is not a business model that he wants to be in. | 2010-08-25 |
| Sandy McIntyre | N/A | A Comment -- General Comments From an Expert | A Commentary | 0.020 | How do you make money these days: Dividends! He looks all over N.A. for free cash flow, distribution or dividend, strong balance sheet. | 2010-08-25 |
| Michael Sprung | N/A | A Comment -- General Comments From an Expert | A Commentary | 0.020 | There’s a strong possibility that it could be a severe slow down, but there is a good possibility that we could escape it. So far it has been a financial recession, not an inventory recession. These take a long time to work through the system (we are at 2 of 7 years). We are going to see muted growth. A recovery without great gains in employment. His clients are in balanced portfolios. He stays at the short end of bonds. In the stock market, you take some capital risk. You need a 5 year time horizon. | 2010-08-25 |
| Michael Sprung | HOLD | Morneau Sobeco Income Fund | MSI.UN-T | 9.350 | Would continue to hold. More recent results disappointed market. Are a significant and growing player in the financial services sector. Distribution will have to be tax adjusted when they convert. | 2010-08-25 |
| Sandy McIntyre | Comment | Futuremed Healthcare Income Fund | FMD.UN-T | 8.000 | Rarely sells after an earnings disappointment. Doesn’t think there is a structural problem with the business. They need to get some clarity on how they will transition into what is in effect a new business model where they will have a growth side. | 2010-08-25 |
| Sandy McIntyre | BUY | New Flyer Industries Inc. | NFI.UN-T | 11.160 | Continues to like them. Just signed a big contract with the City of New York. The backlog is the largest he has ever seen it. | 2010-08-25 |
| Michael Sprung | DON'T BUY | Bell Aliant | BA.UN-T | 25.350 | BCE is the big one in the field. There was a question as to whether they would by BA. Their second quarter was a bit of a miss. People are looking at the conversion and wonder where the distribution will go to. This is a bit of an uncertainty. Would prefer BCE. | 2010-08-25 |
| Sandy McIntyre | BUY | Pengrowth Energy Trust | PGF.UN-T | 10.050 | Has a substantial position. Likes the transition in management. Company is being transitioned to a new business model. What likes about it is that it has a really good asset base. Distribution can be maintained barring a drop in commodity prices. | 2010-08-25 |
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| Sandy McIntyre | PAST TOP PICK | McGraw-Hill Ryerson Ltd. | MHR-T | 51.250 | (Top Pick Dec 14/09, Up 20.55%) Still likes it. | 2010-08-25 |
| Eric Nuttall | TOP PICK | Advantage Oil & Gas Ltd | AAV-T | 6.140 | We are going into a seasonably weak market for oil and gas. Existing production and meaningful resource upside. Market cap of over Billion. It’s trading cheap on reserves. Can fund about 10-15% growth per year. | 2010-08-24 |
| Don Reed | PARTIAL BUY | Bank of America | BAC-N | 12.640 | Biggest domestic bank in US. Acquired the very strong franchise of Merrill Lynch during the downturn. Also acquired the mortgager Countrywide and had some difficulty with the mortgages. About 40% of revenue is from consumer lending. Trading at the price of BV. Consider averaging in. | 2010-08-24 |
| Eric Nuttall | DON'T BUY | Canadian Oil Sands Trust | COS.UN-T | 24.910 | Limited capital appreciation. Yield is in question. Likely they have to cut (25%) the distribution when they convert to a corp. CPG has a slightly higher yield. | 2010-08-24 |
| Don Reed | TOP PICK | China Mobile Hong Kong | CHL-N | 51.620 | Growing subscriber base at about 5 million a month. Recently got the franchise to sell Blackberry in China. Well managed company. | 2010-08-24 |
| Don Reed | BUY | Cisco | CSCO-Q | 21.130 | Data networking. Half their business comes of switching and routing. Reasonable multiple. Could be a little bit of short-term pain but not a whole lot. | 2010-08-24 |
| Don Reed | TOP PICK | Vale S.A. | VALE-N | 26.670 | Showing strong growth in iron ore. Totally integrated with their own railroad and ships. Well managed. | 2010-08-24 |
| Eric Nuttall | DON'T BUY | Connacher Oil and Gas | CLL-T | 1.230 | Their debt is very, very high. It will be difficult for them to grow because of cash flow paying the interest. | 2010-08-24 |
| Eric Nuttall | DON'T BUY | Birchcliff Energy Ltd. | BIR-T | 9.150 | Assets are fine, but debt is high. One shareholder holds 25% of company and he has a big following. | 2010-08-24 |
| Eric Nuttall | TOP PICK | Nuvista Energy Ltd | NVA-T | 10.200 | We are going into a seasonably weak market for oil and gas. An out of favour gas stock. Lots of catalysts coming for the rest of the year. Good management. | 2010-08-24 |
| Don Reed | BUY | Unilever PLC | UL-N | 26.210 | Great and one of the larger food processing global companies. Good defensive characteristics. 4.2% dividend. | 2010-08-24 |
| Eric Nuttall | N/A | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Fundamentals on Gas have only gotten worse. The gas price to earn a 15% rate of return is about $3.30 to $4.30. Pretty high supply and tempered demand. Oil has been falling off, based on news of slowing global economic growth. But there are opportunities: dirt-cheap companies; balance sheets that can withstand low natural gas prices for the next 1-2 years. | 2010-08-24 |
| Eric Nuttall | PAST TOP PICK | Delphi Energy Corp. | DEE-T | 2.380 | (Top Pick Mar 24/10, Down 16%) Very comfortable with this one. One of his larger holdings. | 2010-08-24 |
| Eric Nuttall | BUY | Sterling Resources | SLG-X | 1.940 | They now have no production, but the largest natural gas discovery off UK coast in past 5-10 years. Their interest in it is worth $2.50 a share. They are now fully funded. They also have another asset worth $1 a share. Likes the assets and the management. 2 years until first gas. | 2010-08-24 |
| Eric Nuttall | BUY | Galleon Energy Inc. | GO-T | 3.310 | A brutal story. He was buying it today. He is using it as a way to play an unbelievably beaten up story. It’s cheap on a reserve basis and on a cash flow basis. CEO changed. Limited downside. | 2010-08-24 |
| Eric Nuttall | PAST TOP PICK | Rock Energy Inc. | RE-T | 4.260 | (Top Pick Mar 24/10, Up 2.4%) Still likes. Been little to get to get them started. It’s been a wet season. Trading at a reasonable multiple on existing production. Will be drilling their first horizontal well in September, which will be a huge catalyst (news in late October) | 2010-08-24 |
| Eric Nuttall | DON'T BUY | Petrominerales Ltd. | PMG-T | 24.750 | Management is quite good, especially on the technical side. Concern that he has is the base decline on their production. They generate a lot of cash flow. | 2010-08-24 |
| Don Reed | DON'T BUY | Standard Chartered Bank | STAN-LSE | 0.001 | UK banks have been a difficult place to put money in the last couple of years and he hasn't been in them. | 2010-08-24 |
| Eric Nuttall | SPECULATIVE BUY | Questerre Energy | QEC-T | 2.600 | Poor performer mostly because of gas prices. Balance sheet is not an issue. Good upside if held longer than a year. | 2010-08-24 |
| Eric Nuttall | DON'T BUY | Bronco Energy | BCF-T | 0.200 | Painful to look at the chart. Shows why it is important to invest not just in an asset but in the people. He rode it up and rode it down and sold it. | 2010-08-24 |
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| Don Reed | BUY | Nestlé's | NSRGY-US | 0.001 | World's largest food company and do about 1/3 of their business in North America and 1/3 in Europe. | 2010-08-24 |
| Don Reed | BUY | Banco Santander SA | STD-N | 11.630 | Good, solid Spanish bank and is looking at this one very closely. | 2010-08-24 |
| Eric Nuttall | TOP PICK | Painted Pony Petroleum | PPY.A-X | 6.440 | We are going into a seasonably weak market for oil and gas. A story that is not on the radar screen of most investors. | 2010-08-24 |
| Eric Nuttall | DON'T BUY | Wavefront Energy & Environment Services | WEE-X | 0.880 | Economics of implementing their technology seem to be quite good. Would not buy it until you see more revenue. | 2010-08-24 |
| Eric Nuttall | PAST TOP PICK | Terra Energy Corp. | TT-T | 1.310 | (Top Pick Mar 24/10, Down 23%) At the time it was a cheap natural gas name and now it is a VERY cheap natural gas name. It was intended as long-term holding. | 2010-08-24 |
| Eric Nuttall | BUY | Ithaca Energy Inc. | IAE-X | 1.840 | Was negative for some time and then started buying it a month or so ago. The outlook on the company is very, very good. No exploration – it is pure development. | 2010-08-24 |
| Eric Nuttall | WAIT | Sea Dragon Energy Inc. | SDX-X | 0.270 | Stock has been weak because they are slower than they said bringing on new production. Likes the management team. You could pick away at it over the next couple of months. | 2010-08-24 |
| Eric Nuttall | WAIT | PetroBakken Energy | PBN-T | 19.840 | Performance bad because they spend a lot of money on land and because oil price is down. It was a wet spring and summer and so they could not ramp up their drilling program. Is holding on before buying more – wait for more data to be available. | 2010-08-24 |
| Eric Nuttall | DON'T BUY | Athabaska Oil Sands Corp | ATH-T | 10.330 | There was a little too much hype in it. Good news is that there is not much down side, but there is not much upside. | 2010-08-24 |
| Don Reed | TOP PICK | United Overseas Bank | UOVEY-Pink | 0.000 | (Singapore stock market) Prudent lender. Well managed. 70% of their business is in Singapore. Good balance sheet. | 2010-08-24 |
| Christine Poole | BUY | Bank of Nova Scotia | BNS-T | 51.030 | Banking sector as a whole is at an attractive entry point. Credit cycle is working its way through. Capital markets were very strong last year and there are headwinds. We could see them increasing dividends next year. BNS has the most Latin American exposure, which is the biggest growth area. This is not her top pick. | 2010-08-23 |
| Christine Poole | DON'T BUY | BCE Inc. | BCE-T | 33.470 | Moderately negative on the telecom sector. These guys did a good job of cost cutting and generating free cash flow. Attractive yield. And free cash flow used to increase dividends, so money gravitated here. With increasing competition, she sees limited capital gains. Moderate increases in dividend in the future. | 2010-08-23 |
| John De Goey | BUY | Claymore Natural Gas Commodity ETF | GAS-T | 2.810 | Natural Gas Commodity ETF. He is surprised that gas has not done better. As a longer-term hold, he would classify this as a real buy. Very cheap. | 2010-08-23 |
| Christine Poole | DON'T BUY | Bombardier Inc (B) | BBD.B-T | 4.460 | An attractive entry point. They are getting orders and she likes the infrastructure play. They have lower margins, but will try to bring it up over the next couple of years. Could be FX headwinds because they report in US$. Needs healthy economic environment for jet business to increase. Wants to see more orders for the ‘C’ series. | 2010-08-23 |
| John De Goey | Comment | iShares S&P/TSX Global Gold | XGD-T | 23.400 | S&P/TSX Global Gold. This is the ETF he tends to use for golds. Very heavily weighted towards the large producers. Golds have been hanging around the $1200 mark for the better part of a year now. Thinks run-up in gold has already happened. | 2010-08-23 |
| Christine Poole | Comment | Canadian Oil Sands Trust | COS.UN-T | 25.740 | They are indicating .50 a quarter. They are going to convert at the end of the year. Their strategy will be to pay out according to what oil prices are doing. Distribution will be volatile. Thinks capital spending requirements will increase. Can maintain payout if crude prices go up, otherwise a risk in a cut. | 2010-08-23 |
| Christine Poole | PAST TOP PICK | CGI Group (A) | GIB.A-T | 14.820 | (Top Pick Aug 26/09, Up 31.14%) | 2010-08-23 |
| Christine Poole | BUY | Crescent Point Energy Corp | CPG-T | 35.850 | Likes this name and holds it. Was not bought out, but could be a takeover candidate. Have been increasing land position in Saskatchewan. A well managed company and a good leverage to crude. Prospect of a takeover is not the reason she is out there. | 2010-08-23 |
| Christine Poole | Comment | BHP Billiton Ltd. | BHP-N | 67.130 | When news came out on new tax, stock corrected. If tax comes into fruition, they have to shift their capital plans. They shifted their focus to potash and this is another leg into their whole portfolio. She respects the portfolio. She would not buy POT instead to get the exposure. It’s late in the game to step into potash. | 2010-08-23 |
| Christine Poole | PAST TOP PICK | Encana Corp | ECA-T | 29.120 | (Top Pick Aug 26/09, Down 2.05%) Sold it. Natural gas will stay on the lower end of the $4-$6 range. | 2010-08-23 |
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| Christine Poole | TOP PICK | Fortis Inc. | FTS-T | 29.060 | Is buying for new accounts. Low risk,/ low return (14%). They are good operators and have capital projects in line that will grow cash flow by 5% a year. | 2010-08-23 |
| Christine Poole | TOP PICK | Hewlett-Packard Co | HPQ-N | 39.040 | Has owned for a while and followed them. Stock over reacted to Mark’s departure. Cheaper than it was a year ago. Likes their business divisions. Just reported their quarter and business looks good. Don’t know who their new CEO will be. Bought more when the departure was announced. | 2010-08-23 |
| Christine Poole | HOLD | Manulife Financial | MFC-T | 12.380 | Is a longer-term play. No dividend increases for next couple of years. Volatile. Might come down a bit more. Too cheap to bail out. | 2010-08-23 |
| Christine Poole | N/A | Potash Corp of Saskatchewan | POT-T | 158.170 | POT hit a 52-week high today. The market is expecting a higher bid. BP put in 130. Something will materialize. Potentially a sovereign wealth fund is the most likely acquirer. Thinks you should hang on. BHP doesn’t know what it is facing in the form of mining taxes in Australia. No position in BPH. | 2010-08-23 |
| Christine Poole | TOP PICK | Royal Bank | RY-T | 51.690 | Has under performed and is the only one that is down year to date. Good last year. The stock was over bought when it got up and has now corrected. Is trading in line with the group instead of at a premium, which it used to. | 2010-08-23 |
| Christine Poole | SELL | Shaw Communication (B) | SJR.B-T | 21.410 | Held in the past and sold in the past few months. Going to be rolling out wireless network. Their cap X will be wrapping up to fund that. Always traded at a more attractive multiple because of free cash flow. She put her money elsewhere because she doesn’t see much dividend growth and because they trade at an increased dividend multiple. Would prefer banks for the next few years. | 2010-08-23 |
| Christine Poole | PAST TOP PICK | United Technologies | UTX-N | 67.220 | (Top Pick Aug 26/09, Up 16.71%) | 2010-08-23 |
| John De Goey | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Growth stocks in RRSP and TFSA accounts and dividend stocks in a normal count? This gives you tax optimization and is a great personal finance principle that has been used for generations. | 2010-08-23 |
| John De Goey | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Most indexed funds and ETFs are similar in what they are trying to do but he feels most ETFs are better in the way they go about doing it. You can trade ETFs throughout the day. The main difference is, look under the hood to see what they are tracking and also the costs. | 2010-08-23 |
| John De Goey | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | NASDAQ 100 Equity Hedged-CAD ETF (ZQQ-T) versus S&P 500 (CAD-Hedged) ETF (XSP-T)? His preference would be the 500 stocks as opposed to 100 in the NASDAQ. | 2010-08-23 |
| John De Goey | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | ETFs to capture future world demand for Canadian resorts is/commodities? S&P/TSX Materials (XMA-T) and S&P/TSX Base Metals (ZMT-T) are 2 that come to mind. Claymore Global Agriculture (COW-T) is not necessarily a Canadian story is probably a good long-term investment as well. | 2010-08-23 |
| John De Goey | PAST TOP PICK | iShares DEX Short Term Bond | XSB-T | 29.310 | (A Top Pick Nov 12/09. Up 3.2%.) Short Term Bond Index ETF. | 2010-08-23 |
| John De Goey | BUY | iUnits S&P/TSX Materials E.T.F. | XMA-T | 19.840 | S&P/TSX Materials ETF. All commodity-based ETFs are good diversifiers. If you want to minimize risk and volatility of stocks and bonds in your portfolio, it doesn't hurt to have a reasonable commodity component. This is one of the better products. | 2010-08-23 |
| John De Goey | PAST TOP PICK | Claymore 1-5 yr Government Bond E.T.F. | CLF-T | 20.530 | (A Top Pick Nov 12/09. Up 3%.) 1-5 Year Government Bond ETF. Was concerned about rate hikes and was playing defence on the income side. Cheapest ETF in Canada. | 2010-08-23 |
| John De Goey | TOP PICK | Claymore Cdn Fundamental E.T.F. | CRQ-T | 11.110 | Canadian fundamental ETF. If you want good Canadian stocks, this is fairly diversified and fairly cheap. Tracks dividends, cash flows, sales and book value. | 2010-08-23 |
| John De Goey | TOP PICK | iShares S&P/TSX Capped Comp. E.T.F. | XIC-T | 18.490 | S&P/TSX Capped Composite ETF. Weightings are capped at no more than 10% for any one company. Has 300 stocks. | 2010-08-23 |
| John De Goey | PAST TOP PICK | iShares Alternative Completion ETF | XAL-T | 24.060 | (A Top Pick Nov 12/09. Up 2.3%.) Alternative Completion ETF. Have a lot of things that one would not normally have in a portfolio. Tend to zig when the other things in your portfolio are zagging soul will lower the volatility in your portfolio. | 2010-08-23 |
| John De Goey | TOP PICK | BMO Emerging Markets ETF | ZEM-T | 15.240 | Emerging Markets ETF. The most broadly diversified ETF in Canada for emerging markets. | 2010-08-23 |
| Philip Doyle | HOLD | Boeing | BA-N | 64.600 | Dreamliner is due for delivery early next year and they are getting orders. With recent talk from US Congress about reducing defence spending, he would have concerns on their military side. About 3% yield. | 2010-08-20 |
| Dennis Mitchell | PAST TOP PICK | Calloway REIT | CWT.UN-T | 22.180 | (A Top Pick July 20/09. Up 83.69%.) Still likes but a little expensive right now. | 2010-08-20 |
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| Philip Doyle | Comment | Canadian Oil Sands Trust | COS.UN-T | 25.280 | Stock price dropped because of a couple of things. 1) Oil price is lower and 2) there is a perception, because of BP spill, there is political risk around anything that could possibly be environmentally unfriendly. 7.8% yield. His biggest concern is that it is a one trick pony. | 2010-08-20 |
| Dennis Mitchell | PAST TOP PICK | Canadian Real Estate Investment | REF.UN-T | 29.800 | (A Top Pick July 20/09. Up 31.34%.) Still likes but a little expensive right now. | 2010-08-20 |
| Dennis Mitchell | BUY on WEAKNESS | Chartwell Seniors housing | CSH.UN-T | 8.120 | Historically has not like this name but they changed management, de-levered balance sheet and cut distributions twice. Assets are good, so stepped in after 2nd cut and has done very well. Try to get in the $7’s. | 2010-08-20 |
| Philip Doyle | Comment | FedEx | FDX-N | 81.230 | Very profitable company with a strong franchise. Global distribution network is very hard for competition to replicate. Highly cyclical and depends on the level of shipments, which is dependent on the economy. | 2010-08-20 |
| Dennis Mitchell | TOP PICK | First Capital Realty | FCR-T | 14.190 | Grocery, drug store and retail anchored. Rock solid cash flow. Did very well in the downturn. 5.73% yield. | 2010-08-20 |
| Philip Doyle | BUY | Hewlett-Packard Co | HPQ-N | 39.850 | Strong franchise and cash flowing company. Has generated strong returns on equity through the pretty challenging last few years. Trading at less than 1X sales, which is pretty cheap for a large-cap tech company. | 2010-08-20 |
| Philip Doyle | TOP PICK | iUnits S&P/TSX Energy E.T.F. | XEG-T | 16.990 | S&P/TSX Energy ETF. A call that might be a bit early but energy stocks have been beaten down. These are companies that are profitable at current energy prices and have seen their balance sheets and better cost structures. | 2010-08-20 |
| Dennis Mitchell | PAST TOP PICK | Killam Properties Inc | KMP-T | 9.070 | (A Top Pick July 20/09. Up 61.93%.) Still likes but a little expensive right now. | 2010-08-20 |
| Dennis Mitchell | TOP PICK | Allied Properties REIT | AP.UN-T | 21.020 | Buy Class I office buildings (brick and beam) in Toronto, Montreal, Quebec and Calgary. Great management and great assets and a very strong cash flow. This quarter and next will be rocky because of occupancy issues. Under $20 is a great buying opportunity. | 2010-08-20 |
| Philip Doyle | DON'T BUY | Sandisk Corp | SNDK-Q | 41.500 | A player in a commodity business where margins are limited and potential competition. Range bound in the $40-$45 area, which could be underpinned by deals for companies. Could be a little extended but not overly extended. CEO has announced retirement. | 2010-08-20 |
| Philip Doyle | PAST TOP PICK | Suncor Energy Inc | SU-T | 32.680 | (A Top Pick Feb 5/10. Up .02% excluding dividends.) Likes the oil sands. | 2010-08-20 |
| Philip Doyle | Comment | United Parcel Services | UPS-N | 65.100 | Very profitable company with a strong franchise. Global distribution network is very hard for competition to replicate. Highly cyclical and depends on the level of shipments, which is dependent on the economy. | 2010-08-20 |
| Dennis Mitchell | DON'T BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | REIT convertible debentures? Generally not a fan of either the debentures or the companies that issued them. Basically they guarantee dilution in the future. 2 companies, Cominar (CUF.UN-T) and Dundee (D.UN-T) have almost 30% or more of their equity market cap in them. | 2010-08-20 |
| Dennis Mitchell | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | As trusts in other sectors convert to corps and investors turn to REITs, is there danger of a REIT bubble? A lot of capital is flowing into yielding securities such as treasuries, bonds, bond funds, etc. Currently they are trading at 14.2X free cash flow, which is slightly rich so he has been exhibited in cash. | 2010-08-20 |
| Philip Doyle | Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Preferred versus common shares? Preferreds stand above common shares in the capital structure giving them rights to receive dividends before common shares. Preferreds are often bought as a bond substitute. | 2010-08-20 |
| Philip Doyle | BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Intel (INTC-Q), Oracle (ORCL-Q) or Cisco (CSCO-Q)? Each one of these is a market leader in its own category so it would be reasonable to hold all of them. | 2010-08-20 |
| Dennis Mitchell | BUY | Primaris Retail REIT | PMZ.UN-T | 18.730 | Rumours of takeover are not correct. Great company. Purchased 3 assets recently and with their history they should do great things with them. | 2010-08-20 |
| Dennis Mitchell | TOP PICK | Brookfield Properties Corp. | BPO-N | 14.120 | Good assets, good management, low payout and lower leverage. Entering into Australia. Divesting their residential business. Will be the global landlord for major companies. | 2010-08-20 |
| Philip Doyle | SELL | Potash One Inc. | KCL-T | 2.870 | Where a company does not have a backstop of strong cash flow and strong profitability, it is probably better to consider more diversified alternatives for playing the longer-term prospects of global agriculture such as Global Agriculture ETF (COW-T) or a materials ETF. | 2010-08-20 |
| Philip Doyle | TOP PICK | Claymore Cdn Div & Income E.T.F. | CDZ-T | 18.740 | Canadian dividend and income ETF. Focused on companies that not only have dividends but also grown dividends over the last 5 years. Gives an interesting mix with a mid-cap flavour. | 2010-08-20 |
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| Philip Doyle | TOP PICK | CASH | CASH | 0.000 | Historically August going into September is the worst period to hold equities and is faced with macro uncertainties. | 2010-08-20 |
| Philip Doyle | Comment | SPDR High Yield Bond E.T.F. | JNK-N | 39.100 | High-yield bond ETF. Pretty good high yielding ETF. Reasonably low expense ratio. If you're holding this in a Canadian account it would make sense to hold a hedged version. | 2010-08-20 |
| Dennis Mitchell | BUY | Annaly Capital Management Inc. | NLY-N | 17.590 | Mortgage REIT. Essentially they buy agency residential mortgage backed US securities that are levered 6 times. Last quarter and next quarter will be a little rocky because curve is flattening and spread will tighten. Expect stock price to be flat for the next year or so. 15.5% yield | 2010-08-20 |
| Philip Doyle | PAST TOP PICK | Claymore 1-5 yr Ladder Corp Bond ETF | CBO-T | 20.680 | (A Top Pick Feb 5/10. Up 1.75%.) Chose this over government as he thinks there is a better value in the corporate space. | 2010-08-20 |
| Philip Doyle | PAST TOP PICK | Marret High Yield Strategies | MHY.UN-T | 11.000 | (A Top Pick Feb 5/10. Up 8.5%.) Closed end fund that holds a portfolio managed by a fixed income manager known for expertise in high yield. Overlay this with a macro perspective of interest rates, currency and credit to manage risks. About 6.5% distribution. | 2010-08-20 |
| Dennis Mitchell | BUY on WEAKNESS | Northwest Healthcare Property REIT | NWH.UN-T | 11.430 | Medical office buildings in GTA. Didn't get in on IPO because of concerns of underwriting, cash flow and occupancy. In 2 quarters following IPO the concerns occurred but not to any great extent and were ignored by the market. Currently re-evaluating. Too rich so try to buy in the $10 area. | 2010-08-20 |
| Philip Doyle | DON'T BUY | CBOE Volatility Index | VIX-I | 25.490 | Volatility Index is calculated by figuring out how much volatility option traders expect in the next month in the equity markets. Historically it tends to be a little too pessimistic. He finds it difficult to use as a forecasting tool. | 2010-08-20 |
