TOP PICK
Largest oil/gas exploration and production. Actually an integrated because of its joint venture on refining with Conoco Phillips (COP-N). Off about 15% over the last year. Reasonable yield of 3%. Well run company. 1st choice if you are buying something with a big gas exposure on the expectation that gas is coming back.
TOP PICK
Convenience stores in North America. Gasoline margins in the US have increased. Continues to buy up small chains and improve their margins.
TOP PICK
New wireless entrants into the Canadian mobile phone business has led to a big selloff in companies such as BCE (BCE-T), Rogers and Telus (T-T) and was overdone. Cell phone competition will come in but they'll make it up in volume. 3.9% yield.
COMMENT
Gold. Believes this will go through $1000 and when it does a good easily go through $1200-$1300 in the next 18 months. It's the corollary of the amount of money that is being printed. Eventually when economies do pick up, that will feed through at some stage into higher prices.
PAST TOP PICK
(A Top Pick Sept 17/08. Up 10.07%.)
PAST TOP PICK
(A Top Pick Sept 17/08. Down 13.93%.) Pays a low dividend but it is growing steadily. Still likes.
PAST TOP PICK
(A Top Pick Sept 17/08. Down 17.27%.) Continues to operate very well. This is a stock that everyone should have in their portfolio. Still a Buy.
COMMENT
Basically a low growth, yield stock. Has the old (?) stream telephony side, which is very low margin and fierce competition. Eventually somebody will take it over as it makes no sense to have a provincial telephone company.
BUY
Basically took out the hedge book by doing an equity issue. If you own it, you do so because you think the price of gold was going to go up. They are buying small operating mines for the production growth so even if the price of gold does not go up there will be growth in earnings. You can buy Franco-Nevada (FNV-T) the asset light way to play this they have the royalties. Smartest people in the business.
STRONG BUY
The merger with PetroCanada was a good deal. Companies that owned both companies have been selling down positions in order to adjust their weightings so the price has not moved much. It is digesting. Now cheaper than it has been for most of the last 5 years. Benefiting from lower gas prices, which is used in the tar sands.
DON'T BUY
The big under performer of the 2 investment banks. Goldman Sachs (GS-N) has been blowing the doors off because it is way more trading oriented. US financials are going to be pretty much of a drag over the next couple of years and will be regulated out of sight. Could be considered as a trading stock.
COMMENT
The Chinese are stockpiling copper. They will use it because the growth of the emerging middle class in China, India and Thailand will continue. This one is up 300% this year. Very volatile play. Congolese government could pose a risk.
COMMENT
Natural gas bull+ ETF. There have been enormous increases in supply of natural gas as well as a fall in demand. With a complete cut off in gas drilling, supply will reduce and maybe we'll get a cold winter. At some stage gas will gradually start moving. Could get cheaper.
COMMENT
Would not be very enthused by any of the monoline bond insurers in the US because the business model has been chopped to pieces. This is a trading stock.
COMMENT
ArcelorMittal (MT-N) or US Steel (X-N)? Arcelor is a global play while US is an American play. Depends on your view of the global economy versus the US economy. He thinks the US will probably lead because they were the first to start stimulus.