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Markets. We are at a crucial point here. If there is a settlement with Iran, and it looks like there will be additional supplies come out, there could be some more weakness. There is some concern about the amount of oil in storage. If it gets full there could be problems. Feels that is a little overdone as the guys out there are smart enough to know where to put oil when they buy it. We are in a transition. He is projecting a lower price, with a $60-$70 range, but not until late this year or early next year. There is a lot of tight oil globally and technology is in place, and they will use it. Lower energy costs are a worldwide bonus, particularly in North America because we are the biggest per capita energy users. The Canadian economy is going to face some drag from Alberta, but he still thinks we can manage between 1%-2% growth. Being next door to the US and with a lower dollar, that is going to help us.

In the agricultural supply business and has been doing quite well. Sold off recently. Came in a little light on some of their numbers. In a good sector of the market. He is very positive on the agricultural sector.

This is not a growth situation any more until we sort out the oil prices, but feels the dividend is safe. The oil price may take only 6-9 months. This is probably as low as it is going to get.

This isn’t a cheque company anymore, but more of an information, analysis, storage, manipulation company. They keep expanding more and more into the computer area. Have made various acquisitions in the US that have turned out well. Below $40 would be a decent entry.

This is a tricky area. He is not in the forest products side at all, but watching it closely. The real problem is that the demand for various parts of their business, both lumber and logs, tends to fluctuate. For a while Asians were big buyers of logs, but that has fallen off because the Russians are cutting prices. Also, US housing starts have been on-again off-again. He is reasonably convinced that the US housing starts are going to start to show the kind of growth that he expected a few years ago.

Internationally oriented and exposed. He likes to see operations that are more centred in North America, or even Great Britain and Europe. He would rather go with Canadian-based insurance companies.

It is way too early for stocks like this. Thinks it is going to stay in this price range for the foreseeable future. A good company.

Gas. A few years ago, prices were in the $6 range, and everybody was predicting it would go to $8. Then, along came the Montney and big gas discoveries. The cost of wells dropped and people didn’t think they could survive at $3 gas. We are now at $2+ and they are still producing almost excess amounts. We are in the process of building export facilities, but in the meantime gas is going to be very cheap in North America for the foreseeable future.

Holding on to his holdings because of the dividend. Also, they have long-term contracts with a number of very large producers. Some of these oil sands projects are still coming on and haven’t even started producing. This company is closely linked to these. The next 2-3 years still looks like there is good growth and good cash flow. By that time, the price of oil will be back into a more reasonable level.

(A Top Pick April 8/14. Up 3.2%.) Has been surprised at the poor performance of the banks. Feels this has been a Buy through this period, and he has added to positions on dips. (See Top Picks.)

(A Top Pick April 8/14. Down 48.08%.) Sold his company’s holdings, but still has a bit of his own. He thinks the dividend situation is somewhat suspect.

(A Top Pick April 8/14. Down 18.99%.) He still likes this and has added to his position at lower prices. It has been working its way back up. In the Bakken, one of the better areas. Expects they will make some acquisitions that will be very advantageous to them. Feels the dividend is relatively safe.

Times are hard and probably going to get worse. Chinese just won’t pay for iron ore and there is lots of it. Australians are producing it in huge quantities. Also, feels the 8.5% dividend is in jeopardy.

Just too early for this. This is one of those commodity situations that has yet to play out. You are not going to get much out of this stock in the foreseeable future. Dividend is not particularly attractive, so why bother?

His philosophy on airlines is “don’t invest”. He has seen too many airlines over the years go under for various reasons. It is in a good environment. The cost of fuel has gone down. Travel is definitely up. They should do quite well, but these stocks tend to be pretty darn volatile at times. It may be that an increase in the price of oil and jet fuel would be enough to knock these stocks right down again.