It is a big holding at his company. He really likes the auto industry going forward. Magna has lots of opportunity to improve margins, specifically in Europe. He believes there are legs in the auto cycle. Thinks there is only about 4.5% more for it to drop so buy it here.

You are getting a bit of a pullback in Canadian banks. There are all different reasons. They had a good run and are consolidating their gains. National bank does not have good performance in developing markets, vs. TD. The US is the most attractive area for banking. But he would choose TD in Canada because they are doing a good job in the US.

Very well run bank. You want to own it for two reasons. When we are headed into a tough environment in lending, which we are not right now, and two, when you want to benefit from growth in South America, which right now they are not. In the short run that exposure is hurting them. In a decent market you want to own what people want to own today. Prefers US banks.

Cream of the crop in the US. Coming off of the financial crisis, he feels this one will do well. They did the best job of anyone getting through the crisis. They sold assets early.

(Top Pick Nov 15/12, Up 21.40% Total Return) He reduced his exposure to telcos but this one was the strongest. They will continue to do well. Shareholder friendly management group.

(Top Pick Nov 15/12, Up 18.77%) Has been in it since it went public. This has really worked for him for a long time. He trims from time to time. Let your winners run.

(Top Pick Nov 15/12, Flat) When there is uncertainty, he goes to cash. He has been fully invested since then and is today.