N/A

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.

BUY

Canada's fastest growing gold company. Gold prices are at monthly highs these days. They generate oodles and oodles of cash. A dividend increase would help. He expects a rise in the dividend in the forth quarter. 1.18% dividend. It should be 2-2.5%, based on other gold companies.

DON'T BUY

One of these companies that doesn't pay a dividend so it is hard to say it is worth X Y or Z. He likes to use dividends as a benchmark for valuation. With RIM you are looking for BB10. He goes with stocks that pay a dividend.

WATCH

Economy is putting a damper on things. Copper prices are not at the highs they were at. Hudbay has gone through a period of time where they are spending money to build more mines. Have done a good job of keeping costs under control. He keeps an eye on it but is not buying yet.

N/A

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.

HOLD

Don't hold more than 5% of your portfolio.

BUY

Likes it because it pays a growing dividend. Sees it continuing to grow.

SELL

Would he tender his shares: They have benefited from low gas and high corn prices. A massive spread. This is not the time to buy this company. Will probably grow, but everyone knows that gas prices are low and corn are high.

PAST TOP PICK

(Top Pick Oct. 05/11, Up 18.78%) Best play in the Balken that he has. More dividend increase is questionably until there is a higher oil price.

PAST TOP PICK

(Top Pick Oct. 05/11, Up 15.58%)

TOP PICK

(Top Pick Oct. 05/11, Up 26.58%) Best run iron horse in North America. High return on equity. Ability to continue to grow the company and growth dividend right in Canada with growth in earnings. A well run company.

TOP PICK

We are at a time when every one knows things are slowing in China. It is tough and when everyone knows how tough it is, companies get de-risked. Capacity of met coal is coming off in Australia.

TOP PICK

The hunt for 10%-type growth is there. They talked about 12% growth over 5 years. Great history of returning money to share holders. Yes, they had a leak, but you can't see it on the stock price.

COMMENT

Likes this one a great deal but does not consider it a proxy for the broad Canadian market because it is very much based on financials and dividend paying stocks.

COMMENT

GIC’s. Caller is 4 years away from retirement and his financial advisor discouraged him on GIC’s. You really should have at least some of your money in income bearing investments. There will be some risks in regards to the possibility of a rate hike.