As a rule, he doesn't buy turn arounds. Prefers looking for the strongest company in the industry, not the weakest.

Growth rate went from 30% three years ago to almost low single digits or flat. Not performing well. The group is in the early stages of a turn around, but would be more inclined to buy the company that has flourished through this period. Would prefer Abbott Labs (ABT-N).

A laggard in an industry that's been doing pretty well. There's better places to be. Would consider something that's more focused on nickel or copper.

The biotech sector is one of the first growth oriented groups that turned up and has been relatively strong all year. Likes this one because it has a diversified revenue line. Growing cash flow.

One of the concerns that he does have about the market is that the transport group is under performing the industrials and the utilities. Probably has to do with high energy costs. Probably the best run railroad in North America.

He doesn't buy stocks in decline and tries not to buy turnarounds. This one is getting to a point where some of the uncertainty is coming out of the company. However, they've had to make so many cuts, you wonder how they are going to fare with a significant decrease in R&D spending.

There's no sign whatsoever that they've got this thing turned around. Very little in the Canadian health care sector that looks good.