TOP PICK
Trading at 13X earnings. ROE in the mid-to high teens. International growth as well as domestic. $45 plus dividend gives you 15%. Nice safe place to be.
TOP PICK
Staples as opposed to discretionary. Good defensive growth. Good entry point.
TOP PICK
Stock fell after the wireless Spectrum came out. Good entry point. A wireless play as 80% of EBITDA is wireless plus the cable. Free cash flow is $1 billion a year plus. They have the best technology on the wireless side and the only ones with 3G technology.
PAST TOP PICK
(A Top Pick March 6/07. Up 13.3%.) Gold is a nice hedge against possible recession. This one has a lot of growth and production coming.
PAST TOP PICK
(A Top Pick March 6/07. Down 9.2%.) Yield is almost 7%, which is attractive. Steel service centre, about 70% Canadian 30% US. Cdn$ has hurt their Canadian customers. Great balance sheet and really well managed. Still likes.
PAST TOP PICK
(A Top Pick March 6/07. Up 2.6%.) Still his favourite bank. Very little CDO/subprime US exposure. The Commerce acquisition in the US will be pretty well cleaned up by the time they take ownership. Still a Buy under $70.
DON'T BUY
An infrastructure play and the company will do well. The stock cannot do as well because the multiple has risen to full valuation. He owns the bonds.
DON'T BUY
Becoming fully valued.
BUY
Statistically cheap. Has all the right attributes, but probably needs a little more seasoning. As time goes by, he thinks the multiple will creep up and it does get into the $20's.
BUY
A combination of oil/gas financial services and real estate. Announced the divestiture of the real estate side in the next few weeks and will be debt-free. Asset value is about $9. Yield of about 14%. A good place to hide as far as gas goes.
COMMENT
Primarily a gold play with South American and Quebec very high production costs. If gold moves to $900, these guys have a great leverage. A large project that starts in Ecuador in 2009. Also produces niobium, an industrial metal that has gone up in price. This was his last purchase in golds but will also be his first sale.
COMMENT
Solar panel manufacturer. Multiple is around 25X. A fast growing sector. Prefers 5N Plus (VNP-T).
WAIT
Solar panel play. Got in on the IPO. Putting a plant in Germany along with the one they have in Quebec. Has done exceedingly well in just a few trading days and he has been taking some profits. Multiple is around 25X. Would wait for something down around six dollars.
BUY
Likes at this price. You get bank exposure without the US subprime. Focused internationally. Good entry point for the long-term.
HOLD
Has trended down over the last 9 months. Had a premium valuation going into 2007. Its performance has been fine, but the valuation has trended back to the mean. Has some US exposure through RBC Venturis.