Has owned this for five years. Great growth, bigger and more diversified than ever. But the last three quarters underperformed. They bought Innovia in 2016 and have struggled to integrate it. But their major input cost is resin, so the current decline in oil prices will reduce costs and raise earnings. A lot of their products go into consumer packaged goods, which are not cyclical and won't get hit in a downturn.

Worth buying for a TFSA? Yes. And he has no plans to sell it. Cyclicals will do well when the economy is doing well, but do poorly when the economy slows or the company makes a purchase and must pay for it. The latter is happening to CCL. They're growing but now as quickly as investors expect. One acquisition is holding back their bottom line. This will fall off in the next recession. Packaging success will depend on the wider economy. Their main issue is price inflation with resin prices rising, and CCL didn't pass on that increase yet.

(A Top Pick Oct 12/17, Down 10%)  The management team is very good at what they do with acquisitions.  He would stick with it.  They will probably start their next leg up here.

(Past Top Pick, Sept. 18, 2017, Up 5%) They've gone nowhere for two years. Their valuation became rich and they made some nice acqusitions, but growth has since slowed. They're going through a pause. Management has increased shareholder value, so he likes them. Buy at high-$50's and sell at high-$60's. Buy now.