Magna Int'l. (A) (MG-T)

Most of the drop has to do with the tariff situation. Recent numbers were really good, great balance sheet, amazing footprint, global manufacturing powerhouse. Nice dividend.

Trades on the TSX, and has major global operations. But impacted so much by what happens with trade.

25% tariffs on auto parts would be terrible for this name, life-changing. Valuation very attractive. Always very profitable, great management. Capital intensive and low ROIC, so he doesn't like this type of business.

It has been lowering guidelines and the sector is not great with auto parts companies being impacted by tariffs. He likes Linamar better. It is cheaper and more diversified with an industrial side, and would be less impacted by tariffs.

The names on this list are plenty. Start with the industrials, for instance. He's a big fan of BBD.B, but they make everything here in Canada.

An aerospace name like CAE, the rails, auto components like LNR and MG.

Don't yet know how things are going to shake out. Rhetoric is at an all-time high. Short term, it's impacting our economy because the US is our largest trading partner. Reality is that there's a lot of value-added auto manufacturing in both Canada and US; the 2 countries are inextricably linked. Tariffs will be punitive for both Canada and the US.

Hope is not an investment strategy, but we have to hope that rational heads can prevail so that there continues to be a steady flow of goods across our borders.

Not an unreasonable time to sell, given the economic sensitivity of the name. Stock's come up a bit recently. Consider something like TD rather than BNS.

Solid company. Thinks 2025 will be positive for the consumer and auto demand, and the stock's not reflecting this. If you're a long-term player, and you still like the fundamentals, keep holding.

PE higher than that of LNR. Integral to the NA auto parts business. Parts go back and forth over the border so often, not sure how you'd keep track of the tariffs. Both Trump and Canada see auto parts as important to the US. Wouldn't be surprised if affected by tariffs less than other industries.

They're turning around governance. Well-managed. But car sales including EV are poor. But he worries that the general economy gets worse. Is on his radar though.

Well run with a fine geographic footprint. They have their hands in so many parts of the carmaking business. A great industrial company. Pays a good dividend and the PE is cheap. He sees growth, given steady demand for cars for the next 1-3 years.

Tough spot. He wouldn't own now. If we potentially head into a recession, this will be one of the first companies impacted. Business economics are quite good, positioned well with the EV transition.

Best days are behind. Returns on incremental invested capital have taken a step lower recently, reflected in valuation. Content growth stable, with a downward bias. Sell on strength, though no immediate urgency. Melting ice cube, so even a big drop in valuation would probably not tempt him.

Q2 was a modest miss but the market is concerned about forward guidance with a slower ramp up in EV's. They are trying to offset this with lowering costs and reducing Capex. There is no real growth in the forecast but sales should start to turn at some point. It is very cheap and he sees growth returning. He would buy in the $50 range by writing puts.

In general, he avoids auto sector due to interest rates and consumer. Lots of change in the industry, lots of risk. EVs are causing turbulence for the whole ecosystem. Sector is not investable right now.