David Taylor, MBA, CFA

Small coal play. In pre-feasibility with feasibility study due in the next few weeks. Partnered with Xstrata (Cape Breton met coal property). Beneficial because of location where shipping costs will be cheaper. Also have a moly and copper play in Africa that is attractive Lots of cash and supported by NAV.

Nymex Long Gas/Short Oil ETF. (Doesn’t own but is a recommendation.) Goes Long next months gas and Short next month’s oil. Spread between price of oil and gas has never ever been higher. Producers are very much hedged in 2010 and as hedges come off and cash flows drop, capital spending is going to drop and natural gas prices are going higher in 2011.

Even if they lose market share, the market is growing so quickly that revenues will continue to grow. Expect they will show 20%-30% earnings growth rate. Trades at 7X earnings and has no debt.

(A Top Pick April 13/10. Up 36.8%.) Still likes.

(A Top Pick April 13/10. Up 76.48%.) Still likes.

(A Top Pick April 13/10. Up 33.33%.) Still a Buy

Once they bring their heavy oil project (McKay) into production, it’ll get revalued.

Copper. Gone from $1 to roughly $4 a pound. If you think copper is going significantly higher, you want a company with highest costs and worst balance sheets where earnings will be most sensitive to higher prices. But if you believe copper will stay where it is (or fall), you want lowest costs and cleanest balance sheets such as this, which is dirt-cheap.

Well run company and have done everything they possibly can in a difficult environment. Very, very cheap but won’t go up until the economy improves. If you are willing to wait 2-3 years he thinks it will double.

Going through some restructuring and trying to focus on conventional oil and shale gas. Likes the story and stock is cheap, but not dirt-cheap. He can find better oil/gas in smaller names.

Leveraged play on stock market and interest rates. If you believe rates are going higher in the long run, stock should do well. Long-term prospects are weak. ROE days of 20% are over. It’s now a 10% ROE stock and he wouldn’t pay any more than BV, which is roughly where it is now. (He sold his holdings.)

Uranium is very much in favour right now and stock has done well but doesn’t understand valuations. Using today’s uranium price, stocks are trading at net asset value. Compared to a copper stock with $2 copper, they trade at half net asset value. Valuations are overdone.

Doesn’t think you will make much money on banks. They are fairly priced. Can’t get excited about any of them. You should own some as dividends are attractive but he can do better elsewhere.

Growing aggressively in emerging markets. Very cheap. Has chronically under performed and trading at its lowest valuations. Will benefit if interest rates rise, as he expects them to. Will be a very stable, low growth company.

Comes up on the screen all the time because fundamentally it looks cheap but he can't find the catalyst. Fold funds is basically negative every quarter. Very competitive industry.