N/A

Markets. We did not get the Santa Clause rally but we got a lot of Christmas presents early so what you saw was a lot of profit taking. The year is not over and we still have a few days over Christmas. Tax loss selling ended today. Resources did badly this year. 2014 will be a good year and especially for Canada. But it has been a stock picker’s market. Tech has been the place to be, resources the place to avoid and financials are somewhere in the middle.

HOLD

This was the only dog he had in his fund. The issue is that the ROE is about 20% and he wants stocks with more than that. He wants to see what the fourth quarter looks like. Pretty good dividend. Don’t buy it if you don’t have it.

BUY

5.6% yield. Good grower with nice distribution. He would have thought the stock would have been up a little more. He can’t predict a dividend hike.

BUY

Should be able to grow in line with its earnings.

BUY

Vehicle leasing business. Well managed financial services company. Executed plan brilliantly. Future valuation looks attractive. Enjoy the dividend. Growth in dividends should be above normal for the sector.

BUY

Starting to move into the states in a way that makes him comfortable. Good growth prospects in Canada for them. Stay the course and he thinks it will continue to do well. 4% yield. They are just starting to bite on assets in the States and work their way into the market.

BUY

Had a good run. There is some hype that is built into the stock price. Prefers Home Capital (HCG). No major issues with CXS, however.

PAST TOP PICK

(Top Pick Jan 8/13, Up 195.97%) He sold after he doubled his money. Sold too early. It is not cheap enough any longer for him, but a great company with wonderful management.

PAST TOP PICK

(Top Pick Jan 8/13, Up 39.20%) Was buying recently. Owns both this and Clearwater, which is unusual for him. Great brands.

PAST TOP PICK

(Top Pick Jan 8/13, Up 57.73%) Very strong company with great cash flows. His second biggest position.

DON'T BUY

Chinese plant. He has seen the plant and operations. He doesn’t like China plays. You get sideswiped every now and then.

BUY

High payout ratio, but more like a high yield bond. They pay out most of their profits. There is no capital appreciation but you get 9 or 10% payout during the year. The stock is not designed to go up. It goes up and down with the appetite for yield.

HOLD

Likes the company, and was buying in the last day or two. The forward value is getting a little rich. Is a top 5 name of his.

COMMENT

He is looking at it. Just did an acquisition and it looks like 2014 will be a good year. He is not quite ready to endorse it but likes what is happening there.

WATCH

Last couple of quarters have not been good. Is not particularly cheap.