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Markets. Rising bond yields globally are telling us that a rate increase is here, and is also signalling that growth is a little bit stronger than what we had been led to believe. He is expecting a very strong 2^nd quarter. Expects a token move in interest rates, and that is the start of a bond rally that has been going on for more than 30 years. It is also the start of another move higher in equities, because on a relative basis, stocks look cheap compared to bonds. Thinks we are seeing growth even though it may be masked with the short term numbers we have seen economically.

Energy. Right now we still have very high inventories with no real strong demand. We have increasing production in excess of world demand. Still thinks the price of oil is too high at present. On the equity side, the TSX is trading at a multiple of forward earnings at around 19X, but when you look at energy, it is trading at 42-43 times.

He finds oil/gas stocks overvalued. This one offers decent growth and is living within its means. There’s no issue with the dividend.

In a rising rate environment, a yield vehicle tends to underperform, because you can get risk free money cheaper than you could before. Overall he feels the Brookfield family of funds and investments is fantastic.

Feels this is up for sale at the right price. The 2015 drill program looks good and the stock should trade flat to slightly up. He thinks oil slowly rises from here, although overvalued at present.

(How will the new Alberta government affect this stock?) The reality is that we just don’t know enough. It depends on what type of government we get. Overall this is a fantastic company. Capital discipline is phenomenal. Arguably one of the best integrated oil/gas names globally.

This is a company that is doing everything right. Increasing their national footprint. Expect synergies and cost savings with its integration with Shoppers. Valuation is high, but it reflects the fact that we are still 40%-45% off in terms of the price of energy, which has implications for the consumer which he thinks are going to be long-lasting. Also, this is a more defensive area to hang out in.

A great company. When you look at the oil/gas space, this is a company that has rarely if ever missed their earnings or their production. They also have some of the best assets around. This is a good time to be adding to this name.

There is very limited growth associated with this company, so it is essentially an oil bond. If your view is that oil is going higher, then it is okay to play it. However, he thinks you are better off with something that offers a little more growth.

(A Top Pick March 3/14. Up 1.35%.) When you look at the money centred banks as a group, they are incredibly attractive trading at 8 or 9 times multiple. Warren Buffett likes this. It is a great franchise. Thinks the lift-off really comes when you start to see rates rise.

(A Top Pick March 3/14. Up 41.1%.) A turnaround story. They were suffering a little bit from a competitive gap.

(A Top Pick March 3/14. Down 2.55%.) Sold his holdings, but got back in. They make cabin interiors for aircraft. Aerospace cycle has been picking up. Did a spin-out of one of their fixture divisions. A really good manufacturing company. Growth has been a little questionable in the last little while.

Manufacturing stocks? The Cdn$ has rallied quite substantially, which has probably hurt their prospects. Also, growth has been a little bit absent globally.

Overall a decent company. Have some good properties, particularly in northeast British Columbia. At some point it is potentially a takeover target, but at this point it is truly a Hold. He doesn’t see any obvious catalysts for this name in the short run.

If you are looking for exposure in the gold space, you have no better alternative than this one. He believes the US$ will continue to strengthen, and in that environment gold is going to be more challenged. This company has the lowest costs in terms of bringing gold out of the ground. The lack of geopolitical risks is attractive.