BCE Inc. (BCE.TO)

Likes the telcos. Sees this as a value play and feels that Rogers (RCI.B-T), which he owns, is better value. You should be fine with this but his concern with whole sector is regulatory issues. Something can come out of left field and knock the valuations around a little.

The best is behind it. Good, growing dividend and some further growth in the industry. He now has more money outside of Canada than inside (55-60%). Canadian dollar is vulnerable.

A wonderful company and gives a great yield. Doesn’t expect there will be a capital gain over the next year. He would prefer to see it at $42-$42.50.

10.58% bond due 2021. Still paying 7.75%. (In a RRIF.) Not a bad interest to be holding. You have to realize that it is paying you that 10% and probably trading in the 140 type range, so will amortize over time. Over the next 10 years, you will see this drop by several points every year it gets closer and closer to maturity. As a credit he is comfortable with it. This will be a good way to sort of wind down your RRIF and hang on.

(A top pick Oct 25/12. Up 14.99%.) He is happy to continue to hold this one. Stock has done reasonably well.

Telus (T-T) or BCE (BCE-T) for the next 3-5 years? Of these 2, he would prefer BCE. They have the media side, including BNN giving them and little bit of diversification. Feels they have a little bit more growth on the wireless side. The entry point is probably a little bit better. With the 3-5 year timeline, he would suggest you buy half now and another half on a dip.

He was quite upset with the government and its stance on the telcos. They were dead set it seemed in getting a 4^th competitor into Canada and were willing to bend over backwards. Existing telcos have tremendous advantage over incoming companies. For a combination of yield and moderate growth, it is hard to beat this company.

Bell Canada (BCE-T) and Rogers (RCI.B-T). What are the benefits of getting into each of these? Prices have not yet been fully reflected yet from their highs on the false alarm of a new entrant from the US. This may be an opportunity. In terms of valuation, these are both pretty much neck and neck at 7X EBITDA. Both have opportunities in being able to shift their business from the wireline space to wireless. As a source of income this one would probably be best, but growth opportunities would probably lie with Rogers.

If you just want income, hold on to it. Dividend is safe and decent long term income flow. Concerned about regulatory risk with all telecoms.

Likes both Rogers and BCE. Continues to see the dividends growing on both, which are both good investments. Recent regulatory changes should not impact either of them much. He owns all 4 of these.

Owns it as a yield play with only some growth. Dividend will continue to grow on a regular basis. Likes that they expanded more on the media side, which is not so regulated as telecom.

Thinks Rogers is a better buy. Wait for a dip and buy this sector.

(Top Pick Jun 26/13, Up 6.39%) Would buy it here. He never believed that a big US telecom player was interested in Canada but the stock has not recovered from it and it was hit by the yield trade. Safe dividend that should increase once per year. Doing well on smart phone penetration. Some really good upside at this price.

Bell Canada (BCE-T) versus Rogers (RCI.B-T)? These are both benefiting from the recent news that international players are bidding on Spectrum. Spectrum licenses will cost both of them lower now. It looks like a 4^th carrier is not viable. Between the two he would be putting his money on Rogers. This company has some headwinds. The Astral purchase is not giving them as much free cash flow as he would’ve liked. Experiencing higher CapX to deploy their FIBE and wireline margin erosion has bugged them for a long time.

Preferred G Series? This was a precursor to the “rate resets” and was known as a fixed floater. On a rate reset, you know what the spread is going to be but on this one, you don’t know.