TOP PICK
Very good opportunity at this point. Very strong management team and has the largest retail exposure, which should continue to do well.
TOP PICK
Latest earnings report suggests that the deal is going to go through. Gives about a 20% annualized return to the $42.75 target. There is also a dividend in the near term.
TOP PICK
Trading at a discount to its NAV at about 12%-13%. 7% free cash flow yield. Very attractively valued. Likes that it is Wal-Mart's landlord in Canada.
PAST TOP PICK
(A Top Pick Feb 8/07. Down 5% including distributions.) Didn't deliver on expectations, largely because of management's inability to flow through good top line results to the bottom line. A lot of potential good things. It's a Buy if management can go through the results. Watch.
PAST TOP PICK
(A Top Pick Feb 8/07. Up 2% including distributions.) Still likes. Management has done a great job of anticipating how quickly to move the business online.
PAST TOP PICK
(A Top Pick Feb 8/07. Down 9% including distributions.) Yield is more than 11% but should be safe. Generates good growth in cash flows. Stock is off because the movement of drilling rigs is down. The rest of their business is doing well. Still a Buy.
HOLD
Always seems to be good value and cheaper than its competitors. Have some very interesting assets in Indonesia, etc. where they are generating some good growth. New CEO has come out with a new strategy and direction, which seems to be little more opportunistic at surfacing value.
COMMENT
It is time to start picking away at opportunities. Not all the bad news is necessarily out yet. This one has a 6% yield and PE ratios below 10%. Doesn't have the exposure to the capital and investment markets that other banks have.
BUY
Very intriguing story. Tends to be very volatile and to be taken as a proxy for the broader US economy. Significant amount of their business is outside of the US, so it is a play on Asian growth and Europe. It will benefit from the weaker US$. For a long-term point of view it is also a way of playing the green economy. Aggressively moving into this area.
DON'T BUY
Distribution story has been a long-term issue. Have had to cut them several times. It took too much debt onto its balance sheet. Income trusts have to have very conservative balance sheets.
BUY
The banks are all attractively valued at this point. This one is the international bank. Growing a great franchise in Latin America and has done a very good job of building those banks. Excellent management team that is always focused on costs.
BUY
Likes gold companies that are growing their production and are generating cash flow.
BUY
Likes gold companies that are growing their production and are generating cash flow.
DON'T BUY
It's parent company MacQuarie out of Australia, has done a great job of building on a global basis. This company came out as a power income trust, acquired a couple of companies on the cheap, but ended up as a bit of a hodgepodge and lost the interest of the market that was looking for a pure play. Cash flows are relatively safe but there is nothing there to cause it to rebound quickly.
BUY
A sustainable business model in the energy area where they retain a certain amount of their cash flow to continue to do the development drilling in order to maintain production. Nicely balanced between oil and gas.