Nutrien Ltd. (NTR.TO)

It's been beaten down lately, which is why he likes it. A slowing economy will mean bumps for this stock, but long-term the world's population will keep growing. Emerging markets want more meat in their diet, so crop-growing needs to be more efficient. Hence, fertilizer. NTR is globally diversified and owns the whole chain--from extraction from the ground to retail. Can buy and hold this for 5-15 years.

Both are ones you could own, but which one now? BIP.UN has robust, organic growth, inflation-linked cashflows, just announced an acquisition that looks accretive. BIP.UN is one of the 10 stocks in Canada that you need to own; it's at levels that are being ignored, so you could buy right now. 

NTR doesn't have the same growth rate, it actually looks negative. NTR will be a buy at some point, but you can wait for lower levels.

Fertilizer is a cyclical business, and in the past few weeks prices have dropped dramatically, with the drop being blamed on recession fears but also on farmers' budgets, which are being squeezed on all sides. 
This has resulted in a couple of broker downgrades on the stock, and some panicked selling. 
At 7X earnings the stock reflects at least some of this concern.  
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Still likes it here. Shortage in the fertilizer market, due to war in Europe. Sold with the run up, but he's now looking at it again. Good long-term story and pricing power. Good job at vertical integration. Ag within basic materials makes sense. 

High volatility stock in the near term.
Conflict in Europe creating price uncertainty.
Expecting growth in company for the long term.
Will continue to hold shares.

Still owns shares.
Will wait for target before selling.
If price goes above $120, will sell shares.
Base product that is good with inflation. 

Very large increase in share price making it hard to justify buying.
Potash prices likely to fall.
Falling EPS profile.
Would wait before buying.
Quality company otherwise.

It has traded as high as $140 and is good to buy at today's price. However use caution if it goes below $94 or $93. The summer is a better time since during the growing season more fertilizer is needed. There are concerns around the order levels because prices are up but it should be fine.

Owns shares in the company.
Likes prospects for the company.
Expecting strong agriculture business.
Potash and other business lines very strong.
Conflict in Ukraine has increased demand for business.

Commodity prices have come off, like wheat and fertilizer. It pays a 2% dividend. He wants to see where commodity prices go before making a decision. The change in the C-suite haven't really effected the stock and is not a concern.