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Reported their 1^st quarter as a public company last week. Stock has been fairly weak lately. Will probably grow by acquisition. 7% dividend is a nice yield while you’re waiting. Pretty safe business.

Just Reported another good solid quarter and had free cash flow with lower costs. Will have a slight increase this year. They continue to show good growth out for 3-4 years at least. Good entry point. Just acquired a company in northern Ontario.

Has been a little weak lately. Made an acquisition of Century Property. Has a management arrangement with Starlight (?) but he would prefer a better management agreement but it is a really good source for small company acquisitions. 7.83% yield.

This is a good purchase for the yield. His least favourite of the major banks. Has a muddled message and less growth than some of the others. Expect the stock will be $65-$66 by December. (See Top Picks.)

Heavy oil and a high yielder. This one gets hit when there is a worry about heavy oil/light oil differentials. His problem is that if you put together the dividend and the CapX, it comes out to 140%. He prefers this to be not over 100%. They need to grow into what they are paying. 140% is not a number you can sustain forever. (See Top Picks.)

He has a sense that there is a “not so great” quarter coming but if you look out a little bit the numbers do look better in the back half of this year and in 2013 with the numbers reaching $45.

(A Top Pick March 30/12. Down 3.22%.) Just reported a really good quarter. Think they have got the message that there have been enough acquisitions and new issues. Stock will lift and he likes the yield while he waits. Once oil is back in favour, he expects it to be a $45 stock.

(A Top Pick March 30/12. Up 17.3%.) Completed the acquisition of Irish Life which will add about $0.10-$0.12 in earnings next year. They are overdue to raise the dividend and expects this later this year or early next year.

(A Top Pick March 30/12. Up 18.01%.) Made a property acquisition in the US which he really likes. They rent those properties out. Did stock for it and it has been weak after the issue but he now likes it better than before. A little bit better growth profile going forward. Nice yield of about 6%. One-year target of $12.50.

Hasn’t liked this one for a long time. Outlook on the aviation side is too lumpy for him. He sees a fairly flat outlook for this one.

In the middle of a takeover of Valliant Petroleum in the UK and some of it is for stock so hedge funds are shorting it. At the current price, it is a good buy. Will be trading at 1.5X cash flow which is amazingly cheap. Once the deal closes (April 18?) he expects the stock will rebound.

He bought this one because he thought the differential was really wide on the heavy-light side and it could only narrow and it would narrow this year.

Thinks there is an expectation of the company “needing” the Chinese deal. As it gets delayed, the stock is weak. Although they are profitable, they are expensive because in the next couple of years there is growth. The market with their view on energy is not willing to pay in advance. Thinks this will continue until there is actually a deal.

Have been a few of these companies where they have switched from a growth model over to a dividend model. They reported and the numbers themselves where fine but the debt was a bit high so the market is worried a little that they don’t have as much room as they used to have. Even with their elevated debt, they are somewhere around 98%-100% so it looks the cheapest of all of these models and has been way oversold. Yield is 14%.

(Between Husky (HSE-T) or Trilogy (TET-T), which company should be kept?) Of all the medium-sized and higher companies, this one is the most likely to be taken over so he would hold this. It has great oil weighted growth in Western Canada.