- Page 1/3
- Next Page
TOP PICK
One of the few REITs that reissued guidance that funds from operations (FFO) is solid. Apartment buildings out west won't necessarily hurt you. Great management and they get funding through CMHC. As the interest rate market gets lower, they go lower to so the spreads haven't blown out on them for funding.
property mngmnt
investment
TOP PICK
GE Capital Bonds 5.37% maturing in 2037. Usually you don't want to lend to anybody for more than 5 to 7 years but this is extraordinary. Gives you about 383 basis points over long Canada. Rated AAA, the highest bond rating possible. When the world becomes normal, spreads will come right in and you'll get a massive gain.
electrical
electronic
COMMENT
Disappointing guidance as they lowered wireless growth for Q4 of 08. This put pressure on the stock. Looking at this vs. BCE (BCE-T) he doesn't think BCE could have a strategic plan in place yet. They are more concerned about cutting costs and catching up to the telcos. Telus wireless could be more vulnerable because Vancouver and Calgary are suffering most of the slowdown in commodities and real estate but it is still a stable cash flow business. Both have to spend on GSM technology to compete with Rogers (RCI.B-T).
telephone utilities
COMMENT
Thinks it is the best in class in the banking sector. Have a very vibrant retail space and the retail-banking arm is doing quite well. Commerce Bank acquisition is a fantastic franchise in the US and they have immunized as much risk as possible in their mortgage book. Bank is conservative, well run and well capitalized.
banks
