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Stock Opinions by James Cole, BA, CFA

WEAK BUY
Railroads have advantages in fuel over truckers. Is considering, at possible entry points. Doesn't own now.
Transportation
WEAK BUY
Trading around fair value. Is okay not very exciting. A low single digit grower with a positive dividend yield.
food processing
WEAK BUY
Prefers business with more volatility in the share price. PG is a great company with great predictability, single digit growth + dividend .High level of safety.
misc consumer products
COMMENT
Is in the process of being taken over. Doesn't expect any competing offers.It will stay at it's current level, subject to the difference in the Canadian US dollar.
steel
COMMENT
Is finally having some deceleration in it's earning momentum. It's been generally well managed. Is a quasi-monopoly, with competition coming on.It will need to lower it's rates, which is good for consumers.
other services
DON'T BUY
Doesn't think it's a takeover target. Better value elsewhere, although he likes it.He likes suncore, and canadian oil sands plus.
integrated oils
STRONG BUY
One of his largest holdings in one of his funds. A financial services colossus.Almost half of their income comes from non-US funds.4% dividend yield, trades around 12 times earnings, so is attractively valued.Hasn't done as well as some of it's peers, due to high expenses. Thinks this will be fixed, due to pressure from shareholders or internally. $53 is a good entry point.
banks
PAST TOP PICK
From May31 2006Then $14.63Still holding, would have done better if the tax law hadn't changed.Still expects a total return of low double digits over next 4 or 5 years, even if you bought now.
other services
PAST TOP PICK
Then $38.12Weakness in housing and home improvement retailing. Has sold it.
specialty stores
PAST TOP PICK
Then $26.36Mortgage meltdown hurt it. Has bought significantly at recent levels.
contractors
DON'T BUY
Doesn't like. Too much like investing in airlines.
Automotive
DON'T BUY
Long term stable free cash generating. Sees growth in high single digits, which doesn't excite him.
breweries / beverages
BUY on WEAKNESS
A great long term performer. He owns Manulife, Sunlife and Great West. Sunlife doesn't get any respect (Rodney Dangerfield). Trading around 12 times earnings + dividend. Not surprising to see a little pull back, so worth while to buy now.
insurance
WEAK BUY
Prefers the oil sands companies, to the conventional oil producers. On his short list of potentials though.
integrated oils
BUY
Has reduced his holdings a year ago, but still owns.Stock has tracked sideways for the last year, and earnings have increased.Manulife has vast operations in the US, which will show as an earnings slowdown due to the rising Canadian vs US dollar. Sunlife is more appealing on valuation, however Manulife has done a better job on earnings growth.
insurance
Showing 1 to 15 of 215 entries