COMMENT

Whitecap (WCP-T), Crescent Point (CPG-T) or Cardinal Energy (CJ-T)? Crescent Point and Whitecap are very similar and would be on his list.

COMMENT

Whitecap (WCP-T), Crescent Point (CPG-T) or Cardinal Energy (CJ-T)? A really great company and doing a really great job. Low cost oil. Very focused plays. However, if you beat it up and you really have oil sit at $15, it gets in trouble. It looks like they want to build a big company, but are really paying up for things.

COMMENT

This is in his group of great companies. Gas price has just had this run because of the hot summer weather, so he would wait. They don’t have a lot of debt and have about $1 billion of hard asset value, such as pipes and plants. However, on cash flow at this gas price, they are still committed to spending $1.1 billion, and the cash flow 6 weeks ago look like it was going to be $600 million. Gas price needs to go higher. Sold his holdings into this run, and moved his money into TransCanada (TRP-T).

COMMENT

He prefers something like Vermilion which doesn’t have to cut its dividend. These fracing companies should be able to come out of this situation really beaten up and still really do well, as long as they get through it. The timing is starting to feel right.

COMMENT

(Market Call Minute.) It is unbelievable how well the stock has done. This is on his very short list of companies he would own, given the right environment. A lot of the assets are in the US. If the Cdn$ gets to the right price and he can get this on a bad day, he would absolutely own it.

COMMENT

(Market Call Minute.) This is a fantastic collection of assets. It has a weird payout if you own outside of an RSP. Prefers and owns Brookfield Asset Management (BAM-N).

COMMENT

(Market Call Minute.) He would own the bonds, not the stocks, at this level.

COMMENT

(Market Call Minute.) There is not enough disclosure for him to be comfortable with. Everybody should own it, if it had disclosure.

TOP PICK

Bulk commodities, base metals and over a 6% yield. Thinks we are actually in the bottoming stage now. It will be slightly better a year from now. The news in China for the time being is better.

TOP PICK

This is a really good company. It is in Canada, Europe and Australia, and it has oil/gas in different places. The one knock against it is that in January it had too much debt. However, if commodities are recovering, that is not a problem.

TOP PICK

This is really good at driving little projects such as power, energy processing, etc. There are lots of investing they will be able to do, but are just not announcing it right now. 6% dividend yield.

N/A

Markets. So far we have seen pretty good earnings from some of the companies that have reported to date. Overall he is happy and, if anything, has probably seen a bit of an earnings trough going back a quarter or 2. Starting to see some acceleration both from revenue and earnings across the board. Valuation on Canadian banks, especially when compared to the US, are sky high, and is something he is watching, but feels we will see some kind of pick up in inflation going over the next 12 months which will increase interest rates and which will be positive for bank earnings.

COMMENT

Because of its limited history, it doesn’t really rank well in his process from a fundamental standpoint. Technically it ranks very well and has nice, strong price momentum. He would like to see some earnings and solid cash flow before getting involved. At this time, price momentum and technical aspects look very strong and are going in the right direction.

COMMENT

Owns this in his “growth” portfolio. The stock has started to accelerate again. It has basically been building a base. Trading at about 40X earnings, so is very expensive and probably scares a lot of people off. Have been growing earnings at about 40% a year, so from a price earnings to growth ratio, you are paying a reasonable valuation. However, if there’s any type of hiccup the stock will sell off.

COMMENT

Ranks fairly well in his process, both from a fundamental and a technical basis. This is a result of 2 factors. One has been a rising price in commodities. Also, it got beaten up so badly in 2015, that people who were under-exposed to the sector are really clambering to try to get in.