Likes the longer-term outlook, not only for the fact that in a rising rate environment insurance companies tend to benefit, but also in the way they have been able to change their business mix over the years, with an emphasis more on wealth management, pension planning and retirements. They are well positioned in the US. This is a company you can be very comfortable in owning going forward.

Enbridge (ENB-T) or Inter Pipeline (IPL-T)? Both are out of favour now, but are 2 of the better pipeline stocks you can be invested in. Has long admired this company, which tends to be a little more expensive over time, but you are paying for very high-quality management. They’ve done some job of deploying the resources. Both companies have fairly well defined CapX programs going forward. You could probably expect more rapid increases in dividends from this company. Both stocks would be vulnerable to a rising rate environment.

Enbridge (ENB-T) or Inter Pipeline (IPL-T)? Both are out of favour now, but are 2 of the better pipeline stocks you can be invested in. Enbridge tends to be a little more expensive over time, but you are paying for very high-quality management. Both companies have well defined CapX programs going forward. You could probably expect more rapid increases in dividends from Enbridge. One unknown with this company is, will they go ahead with the big petrochemical plant. Both stocks would be vulnerable to a rising rate environment.

In the last day or so, we have seen a few of the mining stocks suffering from fairly rapid setbacks. What was driving this company up to now was a very good met coal market. Right now, he thinks people are stepping back and saying “We have seen some strength in commodities lately, but how sustainable is it, and how likely is it going to last.” The pullbacks might be a bit of a buying opportunity.

Hurricanes cause a disruption of services, but it is going to be temporary. You have to look at the bigger picture. Airlines appear to be facing more and more competition. Has always been wary of airline stocks as you are dealing with extremely expensive aircraft and largely unionized employees and a very competitive environment for price setting. Airlines have had a good run over the last while, and if he owned any, he would be taking profits.

He likes this a lot and admires its management. Probably the foremost producer in Canada without being integrated. A real benchmark for the energy industry. Superbly run, and has always maintained a good solid balance sheet. That allows them to take advantage when opportunities arise. Lately they’ve made some significant acquisitions, and he expects that will continue going forward.

The dominant one in grocery chains in Canada. The grocery industry lately has seen food deflation. Some are facing higher labour costs if minimum wage initiatives go forward, which will be fairly significant to a company like this. He prefers to own this through George Weston (WN-T), which gives you the bakery business as an added diversification. In groceries, this company would be his 1^st choice.