He thought their guidance was pretty good. People think the US auto cycle has peaked. He disagrees. He thinks so few cars were sold after 2008 that there is still a lot of replacement to go. These are a bunch of pretty smart guys with a solid position in the industry. He prefers this one to others.

It is hampered by the strong US dollar. But it is a great company with great products. The jet aircraft industry shows terrific growth going out over 10 years. Exporting is hard with a strong US dollar. He thinks there is room for dividend growth. It is a bet on the US economy.

He will never again own airline stocks. They are too volatile. At the end of the day an airline seat is a commodity, but it expires the moment the plane takes off. He is not tempted.

He likes it. It is his first or second pick of the Canadian banks. It is cheaper and has a higher dividend yield. They did a great job of strengthening the balance sheet.

The street gets overly focused on iPhone sales from quarter to quarter. Apple also has a big cloud business. There will be a big conversion to the iPhone 7 when it comes out, but don’t wait till then.

It has industries under them that he is not that keen on, but he holds it because of an expected shakeup to release value upon the death of one of the principles.

(Market Call Minute) Tremendous recovery. He is not bullish on gold at all.