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Markets. We have only so much patience. The market broke the 2000 highs in the beginning of 2013 and has chipped itself sideways since then. Every 3 years we get a really big decline. Despite the fact we are near highs, the S&P short interest is at all time highs. There is tremendous bearishness yet he sees from his models that we have healthy markets. He thinks there are a lot of people on the wrong foot on this market. This is a great contrarian indicator. After a 2/3rd decline in energy we are likely to have a 50% upside.

BUY

They have done a great job of executing. It has been a good year with Star Wars. It might be a tougher year next year. They recently made a new high, but looks like it is ready to lift. He would have no problem owning it. This one is attractive from a yield (3.1%) point of view.

BUY

They are dependent on sentiment around the auto cycle, which some think is running out of gas. He thinks it is a mid-cycle slow down. He thinks recession is unlikely and that Europe will pick up.

DON'T BUY

His macro view is that structurally energy could be tough for a longtime. He does not like something that is broken and that you hope is fine. He prefers outside of Western Canada.

TOP PICK

Cardiac implants, spinal implants and diabetes devices. A play on the secular theme of spending on healthcare. They are all about scale. It is fundamentally very attractive. They have a dominant role and can save the system money with their implants.

TOP PICK

We are in a connective world. They are big in auto and heating efficiency. Everything is connected. Sensors and connective devices. They grew free cash flow. 13% annual dividend growth. It is not an expensive stock. They are the market share leader in every market they are in. 16 times earnings. He likes industrials and connected devices along with dividend growth.

TOP PICK

Investment management company, absolute leader in ETFs. Money is moving its way toward ETFs. Money has been leaving equities this year, but they are seeing net capital inflows. Their margins are expanding. 17 times earnings.

BUY

(Market Call Minute) He likes pharma and the more North American focus. Prefers JNJ-N but is okay with this one.

HOLD

(Market Call Minute) It is on a tear. Behaving well. Weak Canadian dollar continues to help them.

BUY

(Market Call Minute) He likes the housing cycle and it is hard not to like this one.

BUY

(Market Call Minute) The one concern is the loss of subscribers at ESPN. They are firing on all cylinders, however. The consumer discretionary group should start to lift here.

BUY

(Market Call Minute) Will continue to be attractive. They have been great at executing.

HOLD

You have to remember that stocks spend a lot of time doing nothing. WFC-N are dominant in the mortgage market and will benefit as the housing market does. Financials were underperforming until about 6 weeks ago. We are seeing signs of domestic improvement in the US. Be patient.

HOLD

Dividend growth is not what it was over the last few years. You are buying it as a bond proxy, rather than a dividend growth stock going forward. The dividend is okay, but there are better names in the utilities. H-T, for example.

HOLD

Don’t buy the laggards. It is going to be okay, like a bond proxy. It is not likely to go back to the highs any time soon. Slower dividend growth. Does not expect it to be a strong performer.