TOP PICK
Defensive growth. Recently reported a good quarter. Continued to grow right through the recession. Still have plans to add about 10% square footage in their stores. Expecting 12% to 15% earnings growth.
TOP PICK
Early cyclical growth. Best run North American railroad. Historically cheap.
TOP PICK
Teachers pension plan sold their holdings, which depressed the stock. 6% yield. Pretty defensive.
PAST TOP PICK
(A Top Pick May 26/08. Down 31.48%.) Will report a relatively weak 09 but 2010 earnings will be quite high. Still buying for clients.
PAST TOP PICK
(A Top Pick May 26/08. Down 24.91%.) Great balance sheet and generating about $1 billion of free cash flow annually. Stock came down because of worries of a 4th wireless provider but that won't happen anytime soon.
PAST TOP PICK
(A Top Pick May 26/08. Down 36.7%.) Continuing to take market share away from Apple (AAPL-Q) and others.
BUY ON WEAKNESS
Prefers either Great West (GWO-T) or ManuLife (MFC-T). Would like to grow by making a US acquisition and the market worries about that. One-year target would be in the $30ish range. Would look at buying at $24-$25.
COMMENT
Uranium: An obvious clean alternative to ever declining oil. Starting to see a recovery. The producer he likes is Paladin (PDN-T). Stocks should do quite well over the next year or two.
DON'T BUY
Real estate with a large US component. You could worry that after retail, with a bit of a lag, office will recover but will be slow. Might take a couple of years.
SELL
Got into difficulty so sold their assets. Can't see any upside for this.
BUY ON WEAKNESS
Expects it will pull back with the market.
BUY ON WEAKNESS
Highly dependent on oil prices. With Suncor (SU-T) merging with Petrocan (PCA-T) this company becomes the only pure play giving it a higher valuation. Thinks the next 6 months oil prices will be flat at $55-$65. Might be a little ahead of itself here.
BUY
A good place to hide. A little bit of growth, but less than 5%.
COMMENT
Small cap REIT based in Winnipeg. Cut its distribution, which dropped the stock. They are selling assets. There are a couple of debenture issues outstanding with around 11% dividends. If you own the units, he would switch to the debentures because they are coming up for maturity and will probably be paid and is trading at about $.60 on the $1.
DON'T BUY
Very levered play on markets. Got crushed, lost money for a couple of quarters and has come back a nice percentage. It takes a while for their retail volumes to come up and stay really high. This is a bull market stock and we are not there yet.