COMMENT
Had gotten ahead of itself so current weakness is partially adjusting valuation. In the world of de-risking, you want to own a Quebec bank mostly or a large Canadian bank that is big and broad, which is safer and has at some in 10 different pots.
COMMENT
Recently sold his holdings in order to de-risk the portfolio and raise cash. Well managed and he thinks the dividend is safe. 70% Canadian and 30% US and would be at risk in an economic dip.
COMMENT
Doesn't feel growth prospects are great. Dividend is safe. If you're a yield player, it's a good solid hold.
COMMENT
Very hard to know the fundamentals. He would use an options travel on this one because it will be completely volatile.
HOLD
Disappointed on a large fire bag contract in Fort McMurray where they lost $50 million. Last quarter was the 1st one where they were a little bit better.
COMMENT
Fears have caused a flood to bonds and away from equities of all kinds. Thinks banks are undervalued. You will see mid-single digit solid growth for earnings and dividend increases. You can buy almost any bank stock and get a higher yield than a 5 year bond.
COMMENT
This is fine and the income is safer than Enbridge (ENB-T) but not as much growth.
COMMENT
Most auto stocks have poor looking charts. The group is trading at less than 10X earnings. Prefers Magna (MG-T) because it is much more diversified but they all look statistically cheap. If there is no recession the stock should rebound.
WATCH
One third oil (in Canada), one third coal and cobalt (in Cuba) and one third nickel with a big project in Madagascar. Market is skeptical about Madagascar until they prove otherwise. Had some operating cost overruns. It will be 1st quarter of 2012 before we really see. If they can do it, the stock could double.
TOP PICK
Just struck a deal in Abu Dhabi, which will add $500-$600 millions of revenues in the next couple of years. Good entry point.
TOP PICK
Just reported good earnings. Three gold mines in Mexico. One is producing and had 35,000 ounces last year going up to 70,000 – 75,000 this year then 115,000 and than 155,000.