TOP PICK
Have come under a lot of pressure since they announced the acquisition of the Australian office properties but he likes the prospects in North America and Australia. Have the best quality Class A office properties. 2.65% yield.
TOP PICK
Have a couple of great carbonate plays at Beaver Hill Lake and Swan Hills region that the market doesn't fully appreciate.
TOP PICK
Likes both stocks and bonds. Similar to Dollarama in Canada but there is no relationship. One of the largest deep discount retailers in the US. Same store sales growth has been growing at about 5%-7%. Have also been growing their footprint in the stores by the same amount.
PAST TOP PICK
(A Top Pick July 13/09. Up 55%.) 7% US$ bond maturing Feb 15/28. Currently trading at a slight premium. The long-duration worrisome little bit. We are go to
BUY ON WEAKNESS
(A Top Pick July 13/09. Up 37.8%.) Major theatre/distributor across Canada with over 70% market share. The big revenue lift for them has been their advertising as well as 3-D films. A 3%-5% pullback would be a good entry point. 6% yield.
COMMENT
Will be converting to a corp. and will be taxed accordingly. A lot of Saskatchewan assets are doing quite well and will see the full benefit of the pipeline in 2011. Expects to see pressures on tolls on the main pipeline, which will be an issue for them in the longer run.
PAST TOP PICK
(A Top Pick July 13/09. Up 27.65%.) Major play in the Bakken region. Rolling through their water flood operations now. Through the testing period now and this will increase production. About 7% yield.
COMMENT
Have done a very good job. Grown mostly through acquisitions. Seem to be a perpetual issuer of capital so very difficult to get a clean look at their financial statements.
BUY
ATMs in convenience stores, shopping malls, etc. Expect that to continue to grow at about 5%-10% over the next few years. 6.9% yield.
DON'T BUY
Cardium, Monte frac and US frac plays have been very active but unfortunately, conventional wells have not been doing as well. Will depend on the commodity price.
BUY
A top 3 municipal bus manufacturer in North America. Difficult to make a call on future growth because it depends on different governments that are short of cash. However backlog looks very healthy.
BUY
Results out of Cardium wells have created a spike in stock prices. Still undervalued. Fair value would be $14-$15.
COMMENT
Will be converting. As part of distributions, you will get a share plus $5 of long-term debt due 2024. Fundamentals have not changed. If you own, you might want to check to see how taxation will affect you in 2011. Likes this one but feels it is fully priced.
TOP PICK
Regulated by government and believes ROE’s allowed are about to be raised from 9% to about 10.5%. Loves the dividend. Utilities have done very well.
TOP PICK
Seasonal Rotation ETF. Up 11% year-to-date.