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They had been on a spree of acquisitions in the last couple of years. It pulled back off the recent high. He likes the business model. Infrastructure in the US should benefit them. They meet all the ‘buy America’ regulations that local transit authorities consider when doing their procurement.

(Top Pick Oct 31/16, Down 8.46%) It reached a high water mark 5 weeks ago. Then a lot of things changed post-election. People failed to grasp that they are throwing the baby out with the bathwater. This one is classified as a consumer staples stock, but it is actually a growth stock. There is some indiscriminant rotation out of some names. This stock is represented in a number of low volatility ETFs. The acquisition environment for them is as ripe as ever and it should be clear sailing for them. He added to it a week or two ago. You can buy on weakness.

(Top Pick Oct 31/16, Down 0.37%) Natural gas prices have risen quite formidably. They are the lowest cost producer in the western Canada sedimentary basin and they have put up the highest shareholder returns since 1990.

(Top Pick Oct 31/16, Down 8.36%) It is a consumer staples stock and has been vulnerable to the rotation over the last 5 weeks. But it is a great growth play. There is a great growth runway ahead of them.

Preferred Shares. He does incorporate them into a number of client portfolios. They are a way to counter the oppressive forces of low interest rates. They have merit in a portfolio. It is very difficult to generalize about the asset class. Each security has its own unique features. Make sure you understand what you own. You should emphasize quality. Income is secondary. He favours rate reset shares.

They have done a great job under the new management team that came in in 2011. He is intrigued by the turnaround in the business, but is concerned that they are a number 2 player in a market dominated by MMM-N. It is liable to be crushed. It is also very cyclical and although the environment in the US is good right now, their margins would suffer in a downturn. The risk/reward is just not there for him.

He prefers ATD.B-T. PKI-T will benefit from a deal ATD.B-T. It is not his favourite.

They have been in the news recently. They have a lot of coal burning legacy plants. Alberta has regulated coal power out of existence by 2030. There is concerned over stranded assets. The government came to terms with them. There is concern about how this company is going to reinvent themselves. Carbon pricing is coming in Canada. There is too much uncertainty.

He is avoiding the space. It was a trade for the last cycle. He would avoid this and others in the space. Rates have been so low for so long and these equities have been so high for so long. E-commerce is displacing traditional retailers.

Marijuana Industry. His approach is to be quite conservative. Some like to speculate in this area but be does not. The recreational use legislation does not yet exist.

He has been buying on weakness. It is a great secular growth story in any space. They are the leading convenience and gas station operator on two continents. High 20’s ROE, mid teens multiple. Great acquirers. CST brands is the biggest acquisition in their history. (Analysts’ Target: $78.36)

Canada’s largest life insurance company. They are in Canada, the States and Asia. Rates going higher is an advantage to them. It trades at about 1.1 times book value. The 10% return on equity is not priced properly into the stock. (Analysts’ Target: $24.03)

It has been doing quite well recently. They are largest auto parts manufacturer in Canada, but have well balanced exposure to North America, Europe and Asia. It is a play on the continuation of the auto parts cycle. It trades at under 8 times earnings with peers closer to 12. (Analysts’ Target: $64.52)