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Markets. Still thinks we are long overdue for a healthy correction, but the market keeps wanting to chug along without it. Not selling anything, but not buying anything new. Has some healthy cash positions waiting for a correction. People should not be afraid of a correction. When the market has gone up, especially the US market, pretty much nonstop for 5 years, it is long overdue for a correction, but that is an opportunity to buy some stuff that you want with a little better valuation. Technology stocks will be the first to fall. Some other things will come down but money will flow into other things that are better value. Doesn’t expect Canadian market will fall as much because we are different. Our market is about 75% materials, commodities and financials whereas in the US, materials and commodities are a very small part of their market.

Finnish company. Third-largest elevator/escalator company globally. Trades in Helsinki, but also in New York in the Pink Sheets. Has 2 distinct businesses. One is the new elevator and elevator construction business and the other part is the maintenance business. In the developing world, the big business is new elevators, new escalators and construction. In the developed world, the big business is on maintenance contracts. Margins on these are humongous. Yield of 3.44%.

Oil sands producers in general have been treading water. In this company’s case, it has been largely because Syncrude has been expanding a lot and there have been huge capital expenditures so the debt level has gone up a lot and the dividend has not gone. Starting next year, capital expenditures start to plummet as the expansion becomes complete. Thinks production will start to go up. Unlike a lot of other producers, Syncrude produces light sweet crude, which gets a slight premium to market price, not a discounted price. They are not subject to Keystone. 6.4% dividend yield.

Packaging. World’s largest converter of pressure sensitive labels. Clients are the major consumer goods companies of the world. Got bigger last year when they acquired Avery pressure sensitive business. Earnings this year and next are exploding because of that. Also, in aluminum aerosol cans as well as the plastic laminate tubes that cosmetics come in. Yield of 1.07%.

Has been reluctant to add to his holdings. Reported good earnings. While it is not a bargain, it is not vastly overpriced. Dividend is safe.

Has been a disappointment along with most oil sands producers. Has been kind of just treading water and going sideways however, some of them have started to stick their nose up now, which he is very happy about. Would have no problem buying this. Thinks it has a great future. It has to break out of its sideways pattern. (See Top Picks.)

Likes the life insurance area in Canada better than the bank area because their interest-rate sensitivity is greater. When interest rates go up, they are huge beneficiaries. Also, feels they have much greater earnings growth potential. Banks have some pretty big headwinds. This lifeco is a little bit different because it recently bought Irish Life, which exposes it more to the European market. There is some confusion here, but this weekend Britain came out with some new standards as far as annuities go in England and they are a big player in that. He has seen some research reports that go both ways that it is either positive or negative for them and he is not quite sure what the answer is.

Like all other drilling companies they have been affected by the weather, which has depressed earnings and probably will for the 1^st quarter as well. He is viewing this as a 2^nd half stock. If it were broken up and sold it would be worth about $3.50 which shows it is severely undervalued. Has a great yield (4.38%) which is safe. Good management. Very well run. Have good prospects for the year.

He recently added to his position. Doesn’t know where the price of oil is going. He believes it is going to stay high which will be highly profitable for all producers. He is happy to continue owning a company that adds to its reserves and to its production very profitably. Dividend is safe.

Prefers owning US banks to Canadian banks as they have much better growth potential. Also, prefers owning regional banks to money center banks. Money center banks are involved in capital markets and are international and he prefers to be in the housing market in the US. This bank has not been one of the better run regional banks so it has not been on his radar. There are better banks available such as BB&T (BBT-N) and Bank United. (See Past Picks.)

He is positive on healthcare. Great company. Likes the pharmaceutical area. Recently announced they were selling one of their consumer products which reinforced that they want to become more of a drug company as opposed to being broadly diversified. That is probably a positive thing.

(A Top Pick March 15/13. Up 34.34%.) A lot of these banks lend to the housing area, developer and homeowner, and he thinks this is a healthy place to be right now.

(A Top Pick March 15/13. Up 45.2%.) A play on golf, but also a play on a turnaround. Turnarounds take longer than expected and don’t always work, but when they work they always work better than expected. Gaining market share.

(A Top Pick March 15/13. Up 31.62%.) Had a 6 for 11 stock split. Second-largest phone company in the world, with operations mostly in Europe and developing markets, but its major assets that he liked was the 45% ownership of Verizon Wireless (VZ-N). He had reasoned that at some point, Verizon would either buy that asset from them or sell it. Verizon bought it with cash and shares. Vodafone then took the Verizon shares and sent them directly back out to shareholders and paid out a special dividend. Also kept some cash as a war chest to make acquisitions. Just announced an acquisition of a big cable provider in Spain so that they will be able to offer bundled packages.

Prefers Sun Life (SLF-T) which is a better managed company and not as leveraged. This lifeco works better when things are hopping. Had to cut its dividend, and as earnings come back, it should have room to bring them back. This is the biggest in Canada and is very big in the US where it owns John Hancock. This is where its problems came from and it is still not running as well as it should. Also, have their Asian growth market.