Ara Nalbandian

Aggressively trying to transition to more of a services and software driven company. Early on but have been quite successful. Trading at less than 7X forward earnings, net of cash. Attractive Risk/Reward. A lot of insider buying also.

There is a lot of shipping capacity and a lot of new ships coming out and freight rates have been depressed. This one has the cleanest balance sheet in the industry, the youngest fleet and the best operating metrics and are able to make a profit. Strong clientele. Able to buy ships at depressed prices from the competition.

Loblaws (L-T) reported earnings that were very strong. Technological efficiencies and cost cutting at Loblaws could continue to be a positive. Margins could be a problem.

Prefers their competitor Telus (T-T). Competitive environment between these two has been fairly reasonable so far. Both are exceptionally well managed. This company has been very patient in building out their wireless, which he feels is a smart move.

Signing incredibly strong contracts on the transportation side. Aerospace side is starting to see a turnaround. Business jets inventory is starting to get worked down. Making a significant investment in their C series to compete against Boeing and Airbus. An ambitious goal. Wait to see better orders on the C series.

Recently reported disappointing numbers on both production and earnings. Trading at a fairly significant discount to its peers so could be a good level to start accumulating.

Selling the Husky International Molding business at a very good price. Have a couple of other businesses that are potentially for sale. Trading around NAV right now. You'll have to be very patient to see more shareholder valuation.Try to buy in the low $30s.

Have had a couple of months of earnings downgrades. Market has given up on them and doesn't think the $7.50 projected earnings is going to happen. At this price becomes interesting on a risk/reward basis. Wait for it to form a base and move in the right direction.

Acquiring Forzani (FGL-T), which is interesting. Expected to be mildly accretive this year and more so next year. Has been very successful at acquiring and integrating. Trading at a discount to it's historical amounts and the headwinds are still in place. Would prefer in the mid to high $50s.

Started buying in the low to mid-$70 range. Doing all the things that he likes from a shareholder perspective. Hit recently with potential regulatory changes but quite an insignificant portion of their earnings.

(A Top Pick June 23/10. Up 43.7%.) Largest Canadian industrial recycler. Big project now is the recycling of wastes from the oil drilling processes. Improving margins. Undervalued.

(A Top Pick June 23/10. Down 27.9%.) Got out last year with a very small profit.

(A Top Pick June 23/10. Up 1.78%.) Trading at 8X forward earnings net of cash. Still likes.

2nd largest potash producer. There is speculation that this could be an acquisition target. Long term outlook for agriculture and potash is very strong.

Long term outlook for agriculture and potash is very strong. Recently had a significant pull back. Long-life asset. Looks interesting here. Be patient when accumulating.