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Markets. Risk assets are in a tug of war. Doesn’t see this changing. The tiniest hint that monetary policy will be pulling back and the market reacts. Thinks they will want to see some pickup in the economic data before tapering. Thinks the economy is ‘hooked’ on the monetary stimulus. He doesn’t see a lot of value in equity markets except for gold.

New store just didn’t work out. Development in area around the store was much slower than expected. They exited and it cost them. All the other units are operating very well. Sees no reason why expansion plans won’t be positive. He owns their debenture. This is a nice diversification away from the resource market.

It is going to trade with the auto parts sector. Had a good run. Not the cheapest stock and is probably trading at fair value. He might buy if it pulled back to $8.

Historically he has been short. Would not buy at this point. Doesn’t think the processes will be economic.

Not a great time seasonally. He does not follow this one. He has been exiting this sector. He is very negative on Canadian housing.

Was one of his positions and he didn’t do that well. Exited last piece today. Putting a new plant in Grand Prairie so they can expand. Once he gets back into this sector this would be one of his top two picks.

Historically he has played it from the short side. Main problem was balance sheet coming out of ’08. Highly speculative.

He is getting interested in Uranium. This would be one of the smaller cap names he would take a look at. He will want to see better production growth and better cash cost improvements. He also wants to see the price of Uranium go up also before going into it.

3.88% dividend. Thinly traded. He would hang on and maybe buy a little more.

(Top Pick Jul 11/12, Down 27.27%) He is currently short. Bought long, then switched to short later after they did a deal he didn’t like as it was a style drift.

(Top Pick Jul 11/12, Up 191.01%) He bought some back recently and it is now a top position in his portfolio. The licensing of children’s content is really picking up. YouTube, Netfix. He expects another acquisition this year.

Top Short (Top Pick Jul 11/12, Down 15.45%) He was a little bit early and still recommends this play.

Gold Stocks. Has a large long position in the gold sector. He looks for the ratio of stock performance relative to gold price. That ratio bottomed just a few weeks ago. This is a leading indicator for the sector going forward. Likes how well the markets reacted to Gold Corp’s bad news recently. Does not see what will take the sector down now but he would exit in October.

Majority owned by a French company. A cash flow machine. Last quarter’s numbers weren’t good because of a delay in Lambs rum shipment to the UK.

He is short. Doesn’t like the base metals. Had a problem with Sky resources that they acquired and have effectively written off. Thinks they will cut the dividend.