Advertising
BUY

(Market Call Minute.) Stock has been hammered. Need to finance but assets are so great, he believes it will get financed.

precious metals
BUY

(Market Call Minute.) Has come through their ramp-up stage, they are executing, getting their production on and bring down their cash costs. Last quarter had record production.

metal mines
BUY

(Market Call Minute.) A higher risk sort of name. New CEO. There will be a lot of new plans coming out. Has heard that they are high grading the mine and he is very encouraged with what he is seeing. Still a fair amount of risk.

precious metals
N/A

Markets. This rally has gone ahead very quickly, particularly in the US. Feels their market is a little bit ahead of fundamentals and could be subject to some sort of shock. If the economy is as strong as the market would indicate, then they will certainly begin tapering at some point next year. The market seems to live in fear of that liquidity moving out of the market. Also, there is always a possibility of some geopolitical event in the Middle East, upsetting the apple cart. Wouldn’t be surprised to see some sort of correction, but the good news is that overall the business economy does appear to be stronger. Good news for Canada is that as global economies begin to expand again, the demand for commodities will come back. 2014 could be a much better year for Canada, relative to the US than 2013 has been.

Unknown
DON'T BUY

Has not bought this, but some clients brought some in with their accounts. He has been focusing on other players in the mining sector. Their big project, Ambatovy, in Madagascar is almost a make or break project for them. There have been a bit of cost escalations there along with some delays. On a price basis, the stock looks very, very cheap. There are other, more diversified plays that he would prefer. (See Top Picks.)

integrated mines
DON'T BUY

Payout has been in excess of 100% which is not sustainable. A lot of analysts are projecting that next year the payout should drop to below 100% with the possibility of it dropping to 65% in a few years. Still a very high level. Last few quarters have not been great. He prefers Enercare (ECI-T).

Utilities
BUY

Things seem to be working out fairly well for this company, particularly with the installation of the smart meters they have been doing. 7% yield.

Consumer Products