Don Reed

There is not enough information on the stocks that they own to make a decision on how to react to the situation in Japan. He thought the commodities prices were getting a little high anyway. Oil was due for a correction and it only corrected a little bit. He owns several big holdings in China as his biggest holdings in emerging markets.

It’s a good stock that he likes and it is a keeper. There was a problem with reserves and accounting differences and that was all straightened away years ago.

No big yield – it is getting expensive. A well positioned company bit getting a but expensive.

It’s in the emerging markets in Telecom. French government owns 27% and he wonders when they will get rid of it. Nice yield. It will not do a major sprint.

If he bought it a month ago he would expect to sell it 5 years from now. Not really cheap. Would not buy it today and sell in 30 days. Would look at averaging the price.

Big Indian bank. Tying to expand and grow business in Canada. A well-run bank but not really cheap. More than 2 times book value.

Still a great organization and now they are getting their act together on the environmental side. Well positioned. Still 4% yield.

Since 1993 did 120 acquisitions. They know how to do it. He is happy to hold it.

Biggest food services firm in the world. They always have the ability to use their scale to drive down their cost. It gives you a base when things are in rough shape.

589 Million subscribers. Great growth. Growing a subscriber base at 5 Million a month. Signed contract with Blackberry and once they get that out in their system (modify system), it is another wave for them. Good growth.

They purchased INCO not so long ago. One of the largest producers of Iron Ore. Nickel and Iron Ore produce stainless steel. Likes it at this level and it is a keeper.

Are breaking themselves up after a string of acquisitions. He sees this happening. Want to get rid of their generics.

Great company. Aluminum. Totally integrated – Iron, Smelting – everything. Likes the fact they are integrated.

Laptops. Produce 90% of all notebooks on a global basis. Will be getting into the tablet producers. There were 80 different tablets in Las Vegas at the show. Low multiple.

(Top Pick Nov 23/10, Up 13.49%) They produce cancer drugs. They produce LCD crystals. Interesting company. Descent pipeline on the pharma side.