The .UN that people are fixated in is leaving at the end of 2010 but it doesn’t change the nature of the dividend. Comfortable with the cash flow stream. All large cap energy stocks are breaking down.
Rarely sells after an earnings disappointment. Doesn’t think there is a structural problem with the business. They need to get some clarity on how they will transition into what is in effect a new business model where they will have a growth side.
The electric business is in the share price. Gas production is being increased in the US and pushing out Canadian exported gas and that is gas that would be on the trans-Canada main line. Prefers Enbridge.
In any commodity based income trust, you cannot say a dividend is safe. NAL going into 2011 is likely going to maintain its current dividend but there is always risk it could be reduced if the commodity price falls.
Both MFC and SLF have exposure to an annuity product that was sold during the bull market. People are fixated on the hedging on this. He would not be standing there to catch these names. There are insurance names that are not in these products. Move into another insurance name.
Both MFC and SLF have exposure to an annuity product that was sold during the bull market. People are fixated on the hedging on this. He would not be standing there to catch these names. There are insurance names that are not in these products. Move into another insurance name.
Has a substantial position. Likes the transition in management. Company is being transitioned to a new business model. What likes about it is that it has a really good asset base. Distribution can be maintained barring a drop in commodity prices.
Global, no net debt, ROE of 22.5%, 9% earnings yield, 11 P/E and 3.4% dividend. If your time-line is 3-10 years you want to own this. It’s cheap. People are fixated on growth. His view is that if capital is at risk, make sure management is protecting your capital and giving you a tangible return on that capital.
9% growth on a global company. If you agree with concept that we are looking at a declining standard of living in the western world, they will benefit, not high-end retailers. 13x PE, 2.4% dividend, ROE of over 22%. Risk would be a severe double dip and increased unemployment.
Confident that Canadian economy is ok. No noise around US operations. Tier one capital of 12.6% vs. 7.7% a decade ago. ROE is 18%. Less than 10x earnings.