BUY
Likes this one even though it has not performed well. Specialty REIT that focuses on Northern properties. Also investing in seniors housing, which adds to their Funds From Operations. Were hurt by energy costs but have cut costs.
BUY
Likes their China exposure.
DON'T BUY
Focused exclusively in the greater Toronto area. Vacancy rates, rent controls and condominium competition have created problems. Prefers Boardwalk (BEI.UN-T), which has 50% of their apartments in Alberta.
BUY
(Market Call Minute.) Focused in apartments and offices in Brazil. Terrific management.
DON'T BUY
(Market Call Minute.) That space in the sector has been really hurt because the credit market has been seized up. Will take a long time.
HOLD
(Market Call Minute.) A great bank. Didn't get caught too hard. Will take a while for it to go up.
HOLD
Being acquired by Penn West Energy (PWT.UN-T). He will take shares rather than cash. Looking out 3 to 4 years, he likes oil and gas. Merged company will have 2 advantages. 1) Tax pools will probably defer any taxes to be paid out on until 2013/2014 and 2) It may be converted back to a corporation and will be a major challenge to other large caps.
BUY
There will be some weakness in the first half of 2008 but looking out further, with all the liquidity that's being pumped into the market there will be a revival of inflation and higher interest rates. At that point, the asset base of this trust will be a good hedge against inflation. First-class management.
BUY
Looking out 3 to 4 years this is a great stock. Feels natural gas prices will recover.
COMMENT
Gold: - Feels that gold stocks will take off like some of the metals stocks did. Looking for $900-$1000 in 2008. Playing the gold/silver market in 2 ways. Bought ETF’s for gold (see GLD-N) and silver (see SLV-A) and balanced that with gold stocks Agnico-Eagle (AEM-T), Kinross (K-T) and Yamana (YRI-T).
BUY
Looking for $900-$1000 in 2008. Expect there will be massive increases in their production.
WATCH
Looking at this one. Have remained fairly clean during this subprime crisis. Getting hit along with all the other financials. There are still massive write offs to come in the banks with level 3 assets. Doesn't know what they're exposure is to this. Wouldn't buy yet.
DON'T BUY
Fairly thin. For agriculture, use iPath DJ-AIG (JJA-N), which gives you a basket of agricultural commodities sponsored by Barclays. (Also see his Top Picks.)
DON'T BUY
Hasn't liked utilities for some time. Given the weakness in interest rates, the stocks have done very well, but he has difficulty in paying 18X or 19X earnings for a yield.
PAST TOP PICK
(A Top Pick Feb 7/07. Up 14.3%.) Still likes and is buying for new accounts. Strong Cdn$ hurt.