Bill MacLachlan

Likes the way they diversified into global asset management. Good management. North America’s largest hydro producer. Tremendous portfolio of Class A real estate. Really a global asset infrastructure play.

(Preferred A) Likes the free cash flow and dividends (currently over 4%).ROE of about 13%. Good growth potential despite all the competition. Has a new product called OpticTV, which has proven to be quite successful and will help them to compete.

With changes in pricing and the changes in markets, competition has been stabilized and is starting to diminish. 4.8% yield is supportable. Trading at 11X next year’s earnings. Reasonable dividend growth.

For a long term business plan, he just doesn’t see it. Information they provide is available free on line. A shrinking business that will have shrinking margins.

Companies in this space are facing huge competition but over the long haul, with increasing use of smart phones and the data (where the profit margin is), a lot of these companies are going to do quite well. Also increasing convergence of smart phones, TVs, internet, etc

Doesn’t expect any growth potential. Had been concerned with their inability to retool their supply chain regarding competition with Wal-Mart (WMT-N) and has made great progress, which has been reflected in the stock price. Doesn’t see it getting much stronger.

Facing significant competition in pricing on the wireless side. Can’t see much growth potential. Good yield of 5.7% but can’t see anything else going for it. Better choices out there.

Natural Gas. Recent technological improvements have meant that reserves are coming out in abundance so can’t see prices going up from here.

Significant position in the Bakken play in Saskatchewan. Reasonable value. Have some concerns for longer term on the price of oil. As a small portion of a portfolio, it is a reasonable entry.

Has been disappointing. Bit of a revolt because of the main line tolls from gas marketers. Lower natural gas prices are not good for them. Can’t see where they are going to get the growth.

Just increased their dividends. Doesn’t see a continuous boom in commodity prices but expects a retrenchment in prices.

Likes Cdn banks. In a period of rising interest rates, which he doesn’t expect to happen soon, they might find a little squeeze in terms of their book. Expecting dividend increases over the next couple of years.

Thinks they are the strongest financial institution in Canada. Has a tremendous franchise. Thinks their US assets are manageable. Incredibly cheap at 9 X next year's earnings. Yield of 5.6%.

Good cash flow. They have a tremendous advantage in their reserves.

Canada's largest engineering company and they operate globally. Infrastructure is a key building block in governments’ attempts to stimulate the economy. No debt and lots of cash. ROE is about 27% for 2008.