Banks are holding up Canadian Stock Market single handedly. Their history is somewhat uncertain. He owns 3 banks and that is enough for now. Probably earnings will be better than analysts forecasted. The American economy is not our of the woods yet.
These fires have been plaguing them and raise uncertainty about the process and whether it can ever become efficient. Value of the resource in the ground is so great and that is why he owns it. Not excited about natural gas.
Well-managed bank, small. What do you get from a western Canadian bank that you don’t get from the big 6. He would rather stick with the big ones. It might get taken out and it wouldn’t be objected to because of its size.
Likes a number of things about it. Trades at book value. Likes life insurance business in Asia. Question mark lies in its exposure to the markets. He thinks that is discounted in stock price and continues to buy it.
Likes it. Doesn’t know how earnings will come out but they have a very large backlog and are winning contracts on a regular basis. Don’t buy right before earnings.
Infrastructure company. Huge backlog. Projects all over the world. Likes the international exposure and the backlog. Owned it for a long time. You can always have problems in large projects, but they are pretty experienced.
A lot of money got moved into money market funds, where they don’t make any money for the company. That money is moving back into higher margin products. Likes it very much for its yield and history of raising dividend. This is a direct play on the growth of the mutual fund industry
There are 3 realities of life. Death, Taxes and garbage. Strong earnings; converted from a trust and cut dividend in half so it is a growth story now. Risks are environmental problems, but they are good managers.