Procter & Gamble (PG)

This has a very specific seasonal trend. It tends to do well from Aug 17 to Nov 19. It is a consumer staples stock, which tends to do well in that time frame period, when they’re transitioning out of the weaker summer months into the stronger winter months. This has done well, up until this point, but right now we are past that seasonal period. He would wait.

Not cheap. Doesn't think you're going to shoot the lights out on growth, but it has a good yield, and over the long-term, could think of worse things to own.

Best in breed, but it is a developed economy story. It is US centric and Canada centric. You buy this and put it away and give it to your grandkids. Also, gradually increases its dividend. Because of the decline in emerging market currencies, Unilever (UL-N) might be a better value option at this time.

The whole category of consumer staples stocks has had a tremendous run in the 1^st half of the year. This has started to give back in the last little while. Not crazy about the valuation here, but in the staples group, this would be one of the ones that he would like.

Defensive name. A high quality company within that sector. Steady dividend. They have exposure to emerging markets. A decent holding, but she has not made the move. She would if it pulled back.

Fairly decent potential. Looking at his FMV calculation, it could actually reach up to $95. Lately the earnings forecasts have been ticking up a little bit, which might encourage the stock to get a little bit further. However, if it gets to $95, don’t forget to take your profits and get out.

Growth is still relatively strong, but the valuation is rather high. This one was considered safer growth. It is not particularly cheap. They will have to start doing acquisitions again to get growth. It is a problem for the consumer sector in general. He has no exposure to consumer retail / discretionary.

Great company and one that has excelled over the years, but trading at around 18X earnings right now. The consumer packaged space is really a slow growth space. If they can get 2%-3% revenue growth, they are happy. It just doesn’t support an 18 multiple. A lot of money has flowed into this because of an attractive dividend, but he would be a little bit concerned with the capital given the multiple and where it is.

Prefers UL-N and MDLZ-Q.

It hit her radar in terms of valuation where she would consider taking a position. A great brand that is struggling a bit because of their emerging market exposure. A temporary setback. Doesn’t think you will get hurt.

The premier consumer product company. Good quality product. Exposed to the global market. Has been somewhat slow growing for the last few years. Organically their basically looking at low single digit growth. With cost-cutting and stock buyback, they may be able to get a 5%-8% upside per year, which he doesn’t think is enough for most portfolios. Longer-term, he doesn’t see anything wrong with it.

Had a few issues over the last little while. Large companies like this were all highlighted as to their ability to grow in China. China has been a lot more difficult to deal with than people thought. This has hurt the stock a little. All in all, it is a great company with great products and is not trading at a very high multiple. Global growth will help this company. Made a few changes, which will help them. Expecting better top line growth.

His model prices $78, a 7% downside. This is a large cap stock and is going to have a beta of 1, which means that if the market is going to be up 20%, this one will probably be up 20%. Doesn’t particularly like this one. There are other possibilities out there, but you are not going to get hurt either.

Such a strong brand globally and a very well run company. It is that value category where you have to pay for what you get in these companies. They haven’t had anything holding them back or causing concerns so there is no discount in the valuation.

(Market Call Minute.) Continuing to benefit from growth in emerging markets.