Steve MacMillan

“Best of breed” in the home improvement space in Canada. Low P/E because of the concern of investors on the housing market. Acquiring companies with good opportunities to make investments at reasonable prices.

For a long-term view of 2 or 3 years, the stock will be higher than it is today. However, 2007 could be a transition year for them. Earnings estimates have continued coming down. With stay on the sidelines for the time being.

Long-term prospects are not as rosy as he would like. Under the last CEO, the company was starved for R&D but were more focused on current margins rather than long-term sales. Huge producer of glass and flat screen TV's and there is concern about growing competition.

Just announced improvements in staffing levels of their stores. Expect a big move to improve margins as well as sales. Good entry point.

The kind of a stock that you could put in your portfolio and leave for years. High-quality company with some amazing brands in its portfolio. The Gillette acquisition last year increased the quality of the brands. Valuation is reasonable and you'll probably make 10% a year over a long period of time.

New management,4-5 years ago, began focusing on margins, merchandising. Margins have risen from 0% in 1999 to 10% in 2006. Expect this will go up to 12%. Strong sales growth. 14 X earnings

Distributor of swimming pool products. They are a large, consolidated distributor between 2 fragmented bases, suppliers and customers, which gives them the most bargaining power. Attractive valuation.

Like the Shoppers Drug Mart of the US. Benefiting from an aging population. Generics are growing and retail pharmacies make more money off generics then branded drugs. Continuing to grow. Weak competition.

Valuation is attractive. Not as risky as some other high-tech stocks. Likes the cash flow and the balance sheet, but little concerned that they will be investing in their new platforms and not getting the returns in the shorter-term.

Valuation is attractive. Not as risky as some other high-tech stocks.

Reasonable year in 2006, but he would not own the stock. An example of a bad company. Some very serious structural issues including labour and health care costs. Have several times more retired workers than active ones. Also questions the quality of their products.

Agricultural economy is what drives this company. His concern is his inability to forecast this part of the economy.

Has done a great job in the last 1 1/2 years of getting its sales turned around. From here, it will be more on how they do in Europe. Valuation is getting a little bit full.

This is a company that will have lower return, but more stable. There is a good opportunity for a return in the future.

Has recently had some issues. Decline in share price is because of slower truck sales as well as rising commodity prices. With manufacturing costs rising, margins will get squeezed. He is generally underweight the whole industrial space in the US.