TOP PICK
At a historical discount relative to underlying net asset value, which includes Loblaws (L-T) and a net cash position coming from various different US businesses that they have sold.
TOP PICK
Merging with Merck (MRK-N). Combination will create a very strong pipeline of products, which for many years will have a good growth profile. It will merge short to mid cycle products with longer-term type products and thinks there are significant synergy type benefits. You could also own Merk but this is a discounted way of playing this. (See also MRK-N.)
TOP PICK
Merging with Schering-Plough (SGP-N). Combination will create a very strong pipeline of products, which for many years will have a good growth profile. It will merge short to mid cycle products with longer-term type products and thinks there are significant synergy type benefits. You could also own Schering-Plough, which is a discounted way of playing this. (See also SGP-N.)
TOP PICK
Health supplements. Has been growing through both organic and acquisitions. Has about 13% US market share and are quite strong in Europe. Their intention is to grow to about 20% market share. Attractively priced at about 8X forward earnings.
PAST TOP PICK
(A Top Pick July 3/09. Up 7.31%.) Likes the diverse products in their pharmaceutical and medical devices as well as their consumer products area. Still a Buy.
PAST TOP PICK
(A Top Pick July 3/09. Down 6.45%.) Making a number of positive adjustments in their operations and marketing.
PAST TOP PICK
(A Top Pick July 3/09. Up 7.81%.) Strong and safe distribution. Attractive assets. Unique asset class and well managed.
BUY
Farm machinery manufacturer. Global agricultural markets are an attractive place to be. Has recently been restructured and there are some positive catalysts for them.
DON'T BUY
Not a fan of Caterpillar (CAT-N) or Deere (DE-N) because of balance sheet leverages but are also tied to global construction demand, a cyclical recovery. Both of gotten ahead of themselves recently.
DON'T BUY
Not a fan of Caterpillar (CAT-N) or Deere (DE-N) because of balance sheet leverages but are also tied to global construction demand, a cyclical recovery. Both of gotten ahead of themselves recently.
DON'T BUY
Natural gas Bull double ETF. More of a short-term hedge for a portfolio, similar to buying options. Natural gas in the short term continues to be quite weak. Wait until a base is formed and there is an uptrend in natural gas before getting aggressively invested in natural gas.
BUY ON WEAKNESS
A little bit overvalued and banks could correct here. Overall he doesn't see any significant overall catalyst that is going to bring it down so wouldn't recommend a short position on it.
BUY
Attractively valued here. Can see 15% upside. The only bank he owns.
SELL
A lot of the auto parts company have had significant runs because they have kept their balance sheets low in debt. Also the stimulus in the auto sector has been of benefit to them. At this point they have run a little bit too far and he would suggest taking profits. Would prefer Linamar (LNR-T) on a pullback.
BUY ON WEAKNESS
A lot of the auto parts company have had significant runs because they have kept their balance sheets low in debt. Also the stimulus in the auto sector has been of benefit to them. At this point they have run a little bit too far. Will consider this at $10.