He has been as bullish as anyone but he is cautious now. Economy things look fine. What’s driving the market is QE2. Would prefer that the market was going up because of good fundamental reasons. On a global basis CEOs are very bullish. He thinks we get into a normal recovery and then in the long term, the commodities should correct. He has lightened on gold and oil stocks; he is bumping financials.
If you are bullish on oil, there are plenty of in there names. You would be throwing a number of other risks onto the investment that you don’t need. Prefers Transocean if you want to play the gulf
Had bit of a miss. Cheap relative to bullion price. Gold in general looks all right to him. A bit of a management change. Would buy toward $16-$17 range. Has had a decent move right now.
The supply response has been too strong. Don’t rush out and do it. Go with what is working right now. He wouldn’t sell it, but wouldn’t buy it right now.
It’s production. They haven’t been able to execute. Prefers U-T. There’s a lot of upside in U-T. Cameco would be a better way to play as it has been a laggard.
This could be an out for BHP. No body else was stepping up to the plate. He is surprised the stock didn’t drop more yesterday. Thinks there are other areas that look a lot cheaper.
Had a really good move since August. Still having a hard time seeing more than 5-$6 earnings. It is more expensive than POT-T. Would prefer an ETF like MOO for agriculture exposure.
Likes the stock. Good production growth. When you look at some of the assets they added recently, they look good. A little bit expensive on a cash flow basis, but the whole group is.
(Top Pick Nov 30/09, Down 6.3%) Has liked it for a long time. Americans concluded they are going to continually loose market share. They will continue to grow. Generating cash and cash on the balance sheet. 8x earnings. Management has done a fantastic job all along. He likes the tech sector in general.
Has lagged. Yesterday came out with one of their better quarters. Good cash generation and good by-products. It almost drives the costs to negative levels. An attractive buy-out candidate but people have been saying that for a long time.
The problem is that there is no cash generation for a couple of years, but they are fully funded to 2014. You are paying for reserve development. It’s cheap. You may have to wait for a while.