He has difficulty in what is happening in the retail market. He does not see a heck of lot of volume in the stores. There is a secular movement toward on-line shopping and he does not see how they can compete. Plowing through inventory is a margin squeeze.

Believes it has a pretty handsome yield. He used to own it years ago. It is a proper business. He thinks it has a good long term yield and should be picked away at on weakness.

He does not hold because of valuation and that the sector is one that he does not need to be in. If you are sitting on gains, there is nothing wrong with taking them. It may go up because of share buybacks, however.

He delved into it as part of a tactical strategy. He thinks the resource stocks will overheat. It is reasonable to have a position here. Their portfolio is reasonably strong. It will be volatile in the short term.

Banks are not cheap. This is one of the cheaper ones because its return on equity is stronger than other banks because it is the most international banks of the family. It is driving higher returns on equity than other banks. This is not a bad one to be picking away at.

You must weight political positions with investment data. Policy is forming in the US, but there are truths about economical data that we cannot ignore. The prospects for US investment are hard to ignore. He cannot own this one in his portfolio because it does not pay a dividend. Cloud computing is a story that is playing out and Google is a leading company in this business. It is a pretty good choice to hold. Buy it on weakness.

A myriad of multinational companies with off shore cash would be huge beneficiaries of the opportunity to repatriate cash. He does not view Apple as a tech company, but as a consumer discretionary company. This is one of highest weights on the NASDAQ. There is probably room for continued dividend growth. It would be a beneficiary of more relaxed regulatory action in the US.