Today, Lyle Stein and John DeGoey commented about whether PXH, ZEF.TO, XWD.TO, HXS.TO, ZLB.TO, CPD.TO, ZGI.TO, XVX.TO, HEX.TO, ZDV.TO, ENB.TO, TECK.B.TO, CNR.TO, TRP.TO, CPG.TO, AGU.TO, BCE.TO, MFC.TO, HBM.TO, BB.TO, G.TO are stocks to buy or sell.
Fully Risked NAV: NAV is a way to estimate the price via cash flows and putting a discount on it. If the discount rate is low, the risk is low. Risk adjusted cash flows is looking at the cash flow throughout an analyst's report. Is it the same all the way through. Fully risked means the price is an entry point.
Markets: Trickle down to Canada from US fiscal cliff is that we are locked into a trading range 11,000 to 13,000. Our market is heavily basic materials, financial and energy related. They are counter to each other. We are stuck in this range. He doesn't emphasize trading. He wants to collect those dividends that grow. When you get a dip, that is the chance to buy it. If one gets out of range then switch to that. Typically he runs 2-5% cash. His stocks aren't the volatile ones so you don't need cash as an offset. He prefers the freedom to take a dividend and if appropriate, buy something different with it.