This is on his radar screen. If there is a recession, which he doubts, it would further hurt the rails. Bullish on commodities.

He is bullish on gold. Had a great merger. Slightly undervalued to Kinross (K-T) or Agnico Eagle (AEM-T), so has more leverage.

He is bullish on gold.

He is bullish on gold.

Stock is not moving because the housing mess and the fears of a drying up of home improvement activity. In the doghouse and will remain until the outlook for housing improves.

Acquiring Canetic (CNE.UN-T). Good acquisition as it gives critical mass of 2000 barrels a day production, capacity to absorb other income trusts and/or oil/gas exploration companies. Also gives them leverage to expand not only outside of Alberta, but into the US. Would wait for the merger to take position before buying.

Being acquired by Penn West (PWT.UN-T). Good acquisition as it gives critical mass of 2000 barrels a day production, capacity to absorb other income trusts and/or oil/gas exploration companies. Also gives them leverage to expand not only outside of Alberta, but into the US. Would wait for the merger to take position before buying Penn West.