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BUY
Good track record. 2nd highest reserve life index at just over 12 years with low decline rates.
oil / gas
DON'T BUY
A very good mill and a low cost producer. A single asset type of trust with some volatility, so if anything should go wrong with that facility, they won't have cash flow. Demand for pulp has gone up and prices are near their cyclical highs.
Forestry
STRONG BUY
Has a number of good years ahead of it. Rather than a declining reserve, they have the opportunity to grow production. In the middle of a big expansion program now. Very sensitive to oil prices.
oil / gas
DON'T BUY
Has had a very rough history. Cut distributions a number of times. Sector is starting to recover, but the hotel sector still has a lot of risk.
merchandising / lodging
WAIT
Sold his holdings because of the convertible debenture issued. Too early to go back in. Expect their will be a lot of tax selling towards the end of the year and will look at it at that time.
biotechnology / pharmaceutical
HOLD
Has had a couple of bad months. Looks like one of their proprties may not be economical to mine. Top notch management team. Doesn't expect a lot in the short term.
precious metals
DON'T BUY
Dropped because they were hit by rebels in the Phillipines. Too risky.
precious metals