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Market. Technology will continue to be a big driving sector. We've seen a lithium bubble and all sorts of speculative trends in some of the really small junior companies. It's a dichotomy kind of market with large companies doing well, some of the crazy stuff doing well, but some stuff in the middle nobody cares about. People are still worried and still have the recession belief in their brain. Executive confidence is pretty high right now. A rise in interest rates is a given and this is fully reflected in the market right. There are no issues unless the Fed does something crazy. Everyone is talking about synchronized global growth, and that is occurring. It is really time for someone to pay attention to the resource market. There have been lots of takeovers and lots of shortages of production capacity. As you get expansion of capacity demand, then you have to get some sort of slingshot effect in resources. Thinks that sector is going to do better.

A really, really good quality company. He likes being conservative, and earlier this year the company said it is not going to be quite as hot as they thought, but then came through and delivered the goods. There is a shift of spending in those industries, and they are very well positioned. Made some great acquisitions, vertical integration and drove down costs. A solid name you don't have to worry about.

One of those resource themes he is starting to look at. Has it in his growth portfolio. Probably the purest play in zinc in the Canadian market. Very, very highly leveraged towards the metal. The balance sheet isn't too bad. As we get global synchronized growth, there is no real reason why this can't continue to do well. There is one caveat. There is some production coming back on stream and metals are cyclical, so you have to keep an eye on how much production is coming on, versus what the economic demand is.

He would put this in the so-so category. This year one of their largest investments got taken out. They made another investment, but also have 3 or 4 investee companies that are not doing so well. They are starting to deal with that, but investors are basically saying they are going to look at this company when all their problems are solved. Investors are also worried about the 8.5% dividend. He doesn't think it will be capped, but wouldn't call it 100% safe either. A very well-run company that is going through a problematic period of time. They earn 15%-16% royalties on their investment, and you don't get that type of return without some risk. Unfortunately, they hit 3 or 4 problems all in a short period of time.

There is a lot of weird trading at year-end. You have portfolio managers changing, Short covering, sector reallocation and tax loss selling. He would bet this company’s problem is year-end positioning. A nice solid company. Wouldn't put it in the high growth category. If markets are going to go on a tear, this will underperform. If the market does go down, you are going to be glad you owned it. They sign 10-year facility contracts with their customers.

A lot of his customers are worried about NAFTA. It has been dragging on for so long, and meanwhile this company keeps hitting new highs every other day. Feels it is starting to be valued as if NAFTA is going to go away. They have lots of European business which he wouldn't be concerned about. Has a fabulous balance sheet. If they are worried about the N.A. market, they can totally go into any other country and make a really big acquisition. Even if NAFTA is thrown out, investors just like certainty. They can't really value things properly because they don't know what is going to happen. This company could go either way. This will pass over time and they will just keep growing.

The majority of revenue is coming from semiconductors. Has a high cash position and good insider ownership. This has done very, very well. If they moved to the TSX, that would help valuations. It is really a question of the semiconductors’ cyclicality. You have almost all revenue coming from one particular sector, and some large customers that are expanding. When that cycle turns, investors are wondering what happens to this company's great, huge, fantastic growth rate. There is a risk, this being a relatively small company. Feels the cycle probably has a little more leg to it and wouldn't be too concerned.

Makes riskier type loans to a wide range of companies. If they don’t work out, then they take the equity in and try to fix the problem. Put themselves up for sale and were going to privatize. An independent valuation was in the $18-$20 range. There was a lawsuit. The person suing was saying bad things about the company. The stock dropped from $17-$18 down to below $10. Meanwhile the company and insiders continued to buy back and the company was saying they were still on board with the privatization process. This has a bit of a mixed view, but they continue to pay the dividend and continue to buy back stock. It has dragged on for almost a year, and investors are getting frustrated. Dividend yield of almost 12%.

Had a position in his model portfolio, and he cut it in half prior to their earnings, because he was a little worried about the Toys "R" Us bankruptcy. This company just skated through that without any problems. Thinks they're going to have a great, great Christmas season. The company just seems to know what they are doing in the toy market. They've executed well, have beaten expectations and the stock is growing big enough now that large funds can buy it. This is so much better than their competitors.

Has done a great job in winning municipality bus contracts. The stock really, really ramped up, and then investors paused a little, and said now that you've got the orders, show us you can make money. They've had 2 good quarters in terms of profitability, so they've proven they can take an order and make money off of it. Now it is just a situation of replacing orders they have, growing their backlog and winning new business. A nice little company in the early stages of growth, but it also means that if anything goes wrong, the very, very high expectations will be wrong and the stock will be volatile if there are any problems.

A couple of weeks ago they came out with a forecast that was not very good, and the stock got whacked. Management and the family behind it think of this in 50-year cycles. They are taking the short-term pain to have a better future opportunity. However, investors just sold not caring what the strategy was. There is an interesting opportunity here because you are investing in a company that is planning for the future. You need patience though. There is no big rush to buy this, but if you want to buy a metal stock, put it away for 5 years and wait for the cycle, you should do fine. They have a good balance sheet and great management and a good leverage to metals. The new price looks good.

(A Top Pick March 27/17. Up 30%.) They've done some very good acquisitions, but missed their 3rd quarter, and the stock took a big hit. A couple of days later, they made a nice acquisition, and it got back everything it lost and then hit a new high. A nice solid company. Have good contracts and have made great acquisitions and have kept their balance sheet in line. This is a keeper.

(A Top Pick March 27/17. Up 26%.) The key with this company is that they have such a dominant global market share, they can actually influence methanol prices. You have a situation now where natural gas is the feedstock and you have low feedstock prices and a surging global demand. The situation is starting to look really, really quite good. They continue to buy back stock, and the earnings level is really, really spectacular. When methanol prices rise they make a ton of money, buy back stock, and have more leverage on their per share earnings. Has had a really, really good run in the last 2 weeks. If his theme and some sort of resource shift happens, this is going to have a good year. He would stick with this.

(A Top Pick March 27/17. Down 17%.) They've had a problematic time hitting their earnings estimates, and investors have been really, really frustrated about the lack of growth. This year, they had a bad 1st half and said things would be better in the 2nd half. It started to get better, and then rolled over again. A nice little company, but they do need better execution, and he would like to see better growth going forward. Has a nice market share and a good product and good customers. They just need a bit better performance in terms of consistency.

Marijuana? An emerging industry, and you cannot value these compConstellation Brands has come in, and we know that other companies will come in as they want a piece of this market. It's probably not because Canada will be huge, but it is when other countries go the legal route. Expects there will be a lot of consolidation. This is going to be crazy, and then you get July and people will realize it is not going to be quite as exciting as what they thought. You can probably trade these until the 1st quarter after legalization, and that is when the party ends.anies. It's all based on what might happen. If every single person in Canada bought $100 worth of weed a year, it is still only a $4 billion market. But if you look at the market cap and what people are expecting; the market cap and potential is just ridiculous. Because of that, he is very, very cautious. The other side is that there will be more consolidation in the industry.