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TOP PICK
Gold bullion ETF. He likes precious metals in either the bullion format or a precious metal stock. His target price for gold is near $1500 in the next 12 to 18 months.
investment companies / funds
TOP PICK
This company has adopted the income trust model for the North Sea but is a corporate structure. It has taken the fields that have been discarded by the majors and are producing very nicely at their low cost structure. 30,000 barrels this year giving them $3/$4 cash flow and hopefully 63,000 next year giving close to $7.70. Have 2 offshore rigs and are hoping to buy a 3rd to get them to 100,000 for $11 a share.
oil / gas
TOP PICK
Given the price decline and that they should be one of the top dogs in the forthcoming auction, he likes this one very much.
Cable
PAST TOP PICK
(A Top Pick May 2/07. Down 7% including dividends.) He would be buying for new accounts when he got into buying financials again. Dividends are increased regularly. Hold. This is the area to be if you are a long-term investor.
finance / leasing
PAST TOP PICK
(A Top Pick May 2/07. Up 61%.) Sold his holdings, but would probably repurchase under $60.
chemicals
PAST TOP PICK
(A Top Pick May 2/07. Up 7% including distributions.) 8.5/9% yield.
oil pipelines
HOLD
Likes the pipeline area. Inter Pipeline (IPL.UN-T) and this one are 2 of the cheapest on a price/cash flow basis. Recently made an acquisition of a New York City power plant. This will cause some dilution, $.04 this year and probably $.07 to $.08 next year. Will also have to issue 32.5 million shares, which is a 5%/6% dilution. Wouldn't buy until you see the charts forming a base.
oil / gas pipelines