COMMENT

Had recommended selling this about 18 months ago, because it looked like the auto cycle was peaking out. A wonderful company, but the major problem is that North American car sales have rolled over. You don’t want to be in this at the wrong cycle, which is where we now are.

BUY

A very solid, meat and potatoes bank. It’s up about 22% this year. Has a decent dividend yield.

COMMENT

Has been the most successful rail stock in the last 5 years. His pick has been Canadian National (CNR-T), but rail stocks are GDP growth plus 2%-3%. They have their cost ratio way down. You will do very well on a longer-term view, but if we do have a slowdown in North America, rail stocks are not going to be immune.

COMMENT

An enormously disappointing longer-term investment. If the tax case goes in their favour, that will be nice, but the stock really hasn’t done a great deal. There has been a downturn in the demand for uranium. They are building a lot of reactors in China, and are looking to build a lot more in Asia. The only thing that doesn’t emit CO2 for continuous baseload power is nuclear. This is dead money at the moment.

DON'T BUY

This has been a wonderful investment. With all the FinTech proposals and money transfer, etc. the market is not worrying about those. It probably goes sideways from here, because either the merchants will want fees reduced or someone comes up with a cheaper form of transfer. If you own this, it never hurts to take profits.

COMMENT

This has been a problem for all UK utilities. The regulatory regime, whether for generators, distributors, etc., has been getting tougher and tougher. With the present uncertain state of UK politics, there is a possibility that Labour might be the next government, and this could get nationalized at a price well below what it is trading at now. You have to make up your mind whether BREXIT is going to be disastrous for the Conservative party or not. If you are uncertain, you might want to get out of this and come back when things are clearer.

PARTIAL SELL

Sell? If you’ve got a profit from an airline, it is never wrong to lock some of it in. There are so many things that an airline can’t control, such as the number of people flying, the price they pay, jet fuel prices, etc. At least, take your original cost out.

PAST TOP PICK

(A Top Pick Oct 19/16. Down 19%.) This was a call on the gold sector generally. The new CEO has a 20/20/20 plan of increasing reserves by 20%, increasing production by 20% and cutting costs by 20%. He is getting there. He still likes this.

PAST TOP PICK

(A Top Pick Oct 19/16. Up 9%.) They did a deal in India, where they merged their Indian business with India’s Idea Cellular. This is still a Buy. Dividend yield of 7%.

PAST TOP PICK

(A Top Pick Oct 19/16. Up 29%.) Underground gas tanks for gas stations, as well as water tanks. They have a nonpolluting, environmentally friendly substance, which can be monitored. Still a Buy.

BUY

Being listed on the NYSE next week, which should help the stock. This company has “value added” technology. Probably not a bad buying opportunity now, with it having come off 15%-20%.

COMMENT

Packaging and labels. This has done well over the past year. One of the issues with industrials, especially manufacturing stocks, is what stage are we at in the cycle and what price are you paying. He would treat this was a little caution until you see what happens with growth in the US and Canada over the next few months.

COMMENT

Over the past year, this has done quite well. They brought the dividend back and increased it. As a domestic UK bank, they are sticking to their knitting.

COMMENT

A survivor from the financial meltdown. European financials have done pretty well over the last year. They cut the dividend, so that should be fairly safe. It is really a question of, what do you think the outlook is for European economies. While the ECB has been very kind in helping European banks, you have to worry longer-term. If you made a gain on this, it might not be a bad idea to at least take some profits.

COMMENT

Sell SNC Lavalin (SNC-T) or WSP Global (WSP-T)? He would keep this one, simply because the value of the calculation of its 16% stake in the #407. The owners can raise the fees and there is still a 20% capacity. Plus, the government is building the eastern extension, which will be more traffic into the privatized bit.