S&P 500 and NASDAQ hitting record highs. Earnings have been very strong. Two-year swap spreads give corporations tremendous access to capital. Tech has been leading the way. VIX is at 25, which usually signals risk is away from the market, notwithstanding trade wars and benign nature of the yield curve.

The VIX. The VIX was at 60-70 back in the day. The big driver is technology. Consumer staples are doing well, drug companies turning around. VIX signals market’s ripe for M&A activity, especially drug companies and tech.

How far can this bull market go? VIX level signals risk is gone. Presidential unrest could bring risk back in, and give you another buying opportunity. Looking at a company’s fundamentals, if you think that revenues and earnings can grow, market shenanigans beget buying opportunities.

Interest in the cannabis sector by Constellation and Diageo. The space has been the go-to sector in Canada for a lot of international companies. The valuation can be justified by having a big company behind it. For a beverage company, in the wake of declining beer sales, they need to bet on another asset class.

Brewers are struggling with declining sales. Valuation is still on the rich side, mainly because of declining margins. Doesn’t have EM exposure that you’d like to see. Be cautious. Compares poorly to its peers. (Analysts’ price target is $77.43.)

Fortis vs. Emera. Emera has more diversified assets. In a rising interest rate environment, who can grow their top line? It appears to be Emera. Because of growth profile and underlying assets.

Fortis vs. Emera. Emera has more diversified assets. In a rising interest rate environment, who can grow their top line? It appears to be Emera. Because of growth profile and underlying assets.

Likes how the company is set up. Poised to benefit with the way cannabis is rolling out. Value is going to be in the distribution. Not cheap, but none of the cannabis stocks are. A good company for sector exposure.

One of his favourites for a long time because of its competitive edge. A strong performer. Solid balance sheet. Fundamentally strong. (Analysts’ price target is $80.78.)

Moving from device to software producer. Has a problem when companies are in transition. Stock has pulled back, to a pretty compelling level. Not a bad place to add. (Analysts’ price target is $15.17.)

Sports streaming is a big step. It has a natural propensity to grab market share compared to its competitors. Likes their positioning in content dissemination. This could be the Netflix moment for Facebook. (Analysts’ price target is $206.74.)

Trying to figure out how to fund the new acquisition. Cautious until we get more clarity on that. Prefers TransCanada. Fundamentals are not as strong as they used to be. If bullish on oil, it’s a good entry point. (Analysts’ price target is $54.88.)

((A Top Pick May 17/18, Up 10%) Turnaround story. Room to grow cash flow and dividends.

(A Top Pick May 17/18, Up 1%) Has been a flat story. Still a good entry point. Has a lot of hidden gems.

(A Top Pick May 17/18, Down 3%) Would still buy at this point. Getting penalized because of Saudi-Canadian issues. Geopolitical issues let you buy good companies at a good price.

Has trouble because it’s difficult to pinpoint the growth of its cash flows. Low rate of investor capital, and the market is catching on to that. (Analysts’ price target is $19.72.)

Likes this name. A safe, growing business. Ag stocks have been underperforming in general. Always had a premium valuation. Trading at 13x cash flow. Seems rich. Not too worried about the trade issues. (Analysts’ price target is $71.14.)

Quality and sustainability metrics are problematic. You need underlying growth to pay the dividend. Highly speculative buy here, some value could be unlocked. But it won’t come back quickly. (Analysts’ price target is $6.03.)

Big admirer of how the company is set up. Growth is phenomenal, especially in China and India. Only challenge is the valuation. Going to be a good company for a long time. The risk is constantly betting on it beating every quarter. If it doesn’t, it’s a good time to add. (Analysts’ price target is $371.08.)

Penalized for missing on earnings. Great growth story, but it doesn’t have the cloud services that Amazon has. A little bit cautious. Wait for it to settle down before looking at it.

Has had some problem with this name. Need to figure out how to pay for the recent acquisition and divest assets. Cash flow from operations needs to sustain the dividend. Good at these levels, as dividend quality is still strong. (Analysts’ price target is $28.75.)

Trying to recalibrate. P/E used to be higher. Trying to get into alcoholic beverages. Still looks pricey. Wait for another quarter before getting back in.

Geopolitical risk is priced in. Good backlog of opportunities. Growth coming in. EBITDA could be strong going forward. Yield is 2%. (Analysts’ price target is $70.54.)

Dividend quality very strong. Linked to oil prices. Very strong balance sheet and very low payout ratio. Can get dividends and some growth for the next 2 years. Yield is 6.6%. (Analysts’ price target is $56.88.)

An unknown insurance company. Undervalued. Has a well positioned distribution network. Trades at a discount to its peers. Gives you insurance exposure in the financial services asset class. Still a growth story. Yield is 3.1% (Analysts' price target is $63.67.)

Market Outlook. Rates have gone up. There is always a negative slant associated with this but that is more based on history. We don’t know how markets are going to behave going forward. Tax benefits are affecting earnings positively. There is a seismic shift also on how business is done with the Internet of things, AI and other technologies. There is a big shift in the way data is disseminated and analyzed.

A defensive name. A company that looks to be acquired. The stock looks goods now on the pullback. Steady dividend and good yield. Maybe the fact that marihuana is being legalized affected the price of the stock and its multiples. A boring traditional business as it is

Would selling marijuana help their business? Everybody talks about downstream market for cannabis Fundamental score of this company is very strong. Thinks the company is overvalued. He will wait. It has been an acquisition model. It usually comes down after an acquisition.

Fundamental score of this company is very strong with strong earnings. Thinks the company is overvalued.

It has had troubles. Fairfax Financial Holdings Ltd (FFH-T) just made a big investment on it. Balance sheet doesn’t look very well. Dividend seems safe. 6.2% dividend yield. The leasing business of aircrafts is doing very well.