COGECO Inc (CGO-T)

Despite a recent upgrade, he wouldn't buy this. (Though another has raised its taret price.) He prefers owning BCE, Telus or even Rogers because they are more diversified. Yes, the stock has done well and is recession-proof.

A lot of the value comes from the cable. He likes it. Strong price momentum and good valuation. Stable ROE. Only a reasonable amount of debt. He likes it.

(A Top Pick June 3/15. Down 2.1%.) You are able to get the minimum cable package without having all the channels you don’t want. This is the “pipes”, it doesn’t own content. Has a nice dividend.

Second biggest cable supplier in Ontario and Québec, along with 400,000 subscribers in Pennsylvania, Florida and Maryland. The big thing is, it is purely a distributor. It doesn’t have the content, so is indifferent as to which channels you choose to pick and pay for. Trading at 10X earnings and has a 1.9% dividend yield. Share price is down 13% while it is the least affected of any of the telcos.