Markets: Not a great year for the TSX and the first time in a long time that it under performed the S&P. By the second half we will have more confidence in the ability for growth. Our financial sector remains strong. Not yet bargain hunting in the nat gas area. The correction that is needed just wont happen over night.
Before the crisis people thought they would be the out performers and then in 2008 they became the poster child for not performing. Assuming a better year, that will be positive for them. Reasonable value here. Will be buying it back.
You can buy it here – an interesting opportunity. Some concerns near term about what the planning season will be like. Farmers are doing well and will fertilize. You have a rising world wide middle class so increasing demand on fertilizer.
Like CNQ it is a premier producer. Will be volatile. IF you have a reasonable horizon you will be pleased you took advantage of what happened to it in 2011
4.5% dividend and you are being paid to wait. The financial part of their business is very skewed toward Europe. Until Europe is on a good footing you will not see good performance from TRI, but you could buy it here.
Best oil company in Canada, beautifully structured. Just put out a 10-year plan where they see cash flow increasing every year. They can actually make money in Nat Gas at $3. Has to do with freehold land they hold. Trades at a warranted premium to its piers. Best in Breed, which you should invest in in this kind of market.
Best in class, record of increasing payout. Bring outlet malls to Canada. Lots of opportunities in the US. American retailers are discovering retailers. Target will be very beneficial to Reocan. Very attractive distribution.
(Top Pick Jan 19/11, Up 15.57%) Wonderful Yield. Good in the way they structure the business and how they hedge it. Thinks it will continue. Last quarter’s earnings really surprised on the upside. Purchase candidate.