Copper. Gone from $1 to roughly $4 a pound. If you think copper is going significantly higher, you want a company with highest costs and worst balance sheets where earnings will be most sensitive to higher prices. But if you believe copper will stay where it is (or fall), you want lowest costs and cleanest balance sheets such as this, which is dirt-cheap.

Well run company and have done everything they possibly can in a difficult environment. Very, very cheap but won’t go up until the economy improves. If you are willing to wait 2-3 years he thinks it will double.

Going through some restructuring and trying to focus on conventional oil and shale gas. Likes the story and stock is cheap, but not dirt-cheap. He can find better oil/gas in smaller names.

Leveraged play on stock market and interest rates. If you believe rates are going higher in the long run, stock should do well. Long-term prospects are weak. ROE days of 20% are over. It’s now a 10% ROE stock and he wouldn’t pay any more than BV, which is roughly where it is now. (He sold his holdings.)

Uranium is very much in favour right now and stock has done well but doesn’t understand valuations. Using today’s uranium price, stocks are trading at net asset value. Compared to a copper stock with $2 copper, they trade at half net asset value. Valuations are overdone.

Doesn’t think you will make much money on banks. They are fairly priced. Can’t get excited about any of them. You should own some as dividends are attractive but he can do better elsewhere.

Great company but has been bouncing all over the place for the last 6 months. Good dividend. Risk/reward is good. Good long-term investment.