Brian Huen

Economy. There is inflation in a number of different places that is causing trouble for the consumer to spend on discretionary items. Because of this, there is a fairly lacklustre performance on the discretionary side of things. Inflation is coming mainly from commodities such as food, metals, rents, etc, places where people have to spend. If people have to spend more in these areas, there is going to be less money spent elsewhere. He is now taking a conservative approach by transitioning over to some of the metals, particularly gold.

Gold. Constructive on gold at this time. A very volatile commodity creating very volatile stocks. He is seeing some interesting technical levels being supported as well as some of the macroeconomic factors. In Europe there are more troubled signs of the recovery that will create more easing for money, more printing of money. This is good for gold as a currency. He is a bit more constructive on China as an economy. Looking at the economic growth forecasts that are projected by the Chinese government, there would have to be a pretty healthy pick up in the second half for them to meet their goals. China is the largest consumer of gold.

He is favourable on this from an M&A perspective. Felt there was a significant amount of value to be had in the event they were able to sell their bakery business, which has been done. Have a bunch of cash on their balance sheet. He is a little confused because he thinks the market is giving them too much credit on their ability to turn around the protein business. That is yet to be seen. Easy money has been made, but on the upside you are looking at $21-$22.

Continues to be very bullish on this. Raised a little money in the last while, and this was followed by the tech sector getting hit because of a general pullback. Fundamentals have not changed, but in fact they have improved. Have signed additional contracts. They have extremely sticky customers. The shoring up of the balance sheet gives them additional ability to bid for more business with their existing customer base, as well as new business. Trading at an extremely cheap multiple.

It has actually held up quite well relative to some of its peers. Thinks they will continue to gain traction given the price point that’s required for the consumer these days.

This has had an excellent move. Continues to execute on its package of lands. This is really a call on the energy sector which he is favourable on. As a late cyclical exposure play, he likes it. He would Buy on any pullback.

Looking at this from a 3-5 year timeframe, it is a Buy. An excellent company. Extremely focused on innovation. The next quarter should look pretty good, just on the back of what we are seeing from the World Cup side of things.

Silver. If you see an economic recovery globally, particularly in Europe and China, you are going to get a bid from a fundamental perspective. It reacts very much like gold. Fortuna Silver (FVI-T) is a stock that continues to execute well. Also Silver Wheaton (SLW-T) is a solid company.

Copper. He is constructive on China for the back half of the year, which would be good for copper. This has been supported at around the $3 level recently. Given the supply/demand situation, it either consolidates or runs a little higher. Capstone Mining (CS-T) and Lundin Mining (LUN-T) are 2 names he would recommend.

A unique little Canadian company that has a very, very unique value proposition. They have 2 businesses. Ladies under apparel business, which recently got contracts with Target (TGT-N) and VF Corp (VFC-N). He expects this division to have high double-digit growth over the next few years. The other business is a chemicals licensing division, which has deals with technical companies that are looking for something special.

(A Top Pick June 26/13. Up 25.64%.) This story really hasn’t changed. Best in breed Canadian retailer. Has monopolistic pricing powers.

(A Top Pick June 26/13. Up 50.71%.) Sold his holdings when it hit his target. They have been able to remodel their stores to achieve better economics. Expanded in Europe through an acquisition. Thinks there is still upside on this. He would be looking to enter again on a pullback.

(A Top Pick June 26/13. Up 68.68%.) Trading relatively cheap compared to its US peers, and extremely cheap on the Canadian side. Had an extremely robust Canadian business. Significant value was created by selling their Canadian division. Exited when it hit his $30 target.

Likes that they have done a bunch of things to consolidate their operations. Balance sheet looks fine. They are going to live and die on the price of uranium. If you have a positive outlook on uranium, this is definitely one that you want to own.

In the phase of constructing as well as raising money to construct a diamond operation in Canada. Raising money is going to take time. He is favourable on diamonds in the back half of the year. Somewhat of a China trade. Because this company is in the building phase, you are going to have to be patient.