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COMMENT

Prefers Bank of Nova Scotia (BNS-T) because of their international diversification and their tight, tight credit and the Royal Bank (RY-T), which seems to be firing on all cylinders. This is an area where he is going to continue to hold his bank stocks. Would have no hesitation in buying banks.

banks
BUY

This is his primary holding in the oil/gas area. Expects there will be significant capital appreciation. It is such a well diversified company with the oil sands, upstream and downstream operations and their retail operations.

integrated oils
COMMENT

Latest report indicates the Australian takeover panel would force this company to raise its bid to $9.56 per share. Because the bid has gotten so competitive, he would not be a buyer of this one today. He is going to wait and see what happens on the acquisition and then how well the integration goes.

food processing
DON'T BUY

(Market Call Minute.) Potash prices remain under pressure and he thinks they will be for some time.

integrated mines
BUY

(Market Call Minute.) Seems to have improving fundamentals recently and is one that he would look at with its current price. Have made great improvements operationally.

oil / gas
COMMENT

(Market Call Minute.) This has done extremely well. Excellent management.

oil / gas field services
COMMENT

(Market Call Minute.) Very well managed company. Has always run a little bit ahead of what he was willing to pay.

oil / gas