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Tonight was a special Talking Tax show. No opinions were recorded.

Market. He thinks Asian markets (ex-Japan) and Emerging markets offer growth at a discount. There is still considerable upside there. GDP per capita is the real upside in these markets. The developed world has its growth behind it. In the developing world GDP per capita averages less than $10,000 US, whereas the Developing World averages over $47,000 US. India is sub-$2000 US per capita. You can park your money in these areas.

Piplines Comment. There is an oil export pipeline shortage, but we are trying to get into a market that is already filled. The best thing Alberta could do is build refinery capacity. We are a small country and must think tactically.

Emerging Market ETFs. He likes the emerging markets and if you are in, stay in. He prefers to be in an emerging market ETF than the S&P. There are better individual stocks to purchase however, in his opinion.

This company is well run – building flow valve actuators. He would only hold it here, due to its exposure to oil and gas and its exposure to commodity market cyclicality.

He thinks the reward system update has not gone well and can cause fissures in customer loyalty. Presuming they can recover there is not much competition and things should go back to normal. It is a well-run company, hey says, and they would be a company to keep as an anchor.

He thinks this could be a yield trap. The problem is there is there is no structural growth opportunity. The challenge in a rising yield environment is its share price may not keep up with others. The underlying business is vulnerable to a recession. Yield 6.5%.

This company is a sell he says. Longer term, the company is state-owned (and run poorly) and he thinks the geology does not compete with the US prospects.

This company is facing challenges, especially in the industrial space – like GE-N. He would not touch any industrial company, due to interest rate trend increases.

He does not like this company. Lithium is a good play, but does not see where it will be short supply. Copper is a better play longer term.

Is the dividend safe? He thinks the dividend is at risk. This is a challenged space, but longer term supply is growing in US markets making a tolling business difficult. For the past 30 years it made sense to play pipelines instead of producers, but now it is different. Yield 6.6%.

He does not own this, but wishes he held an early position in this incredibly well-run company. The multiples are just too hard to wrap his head around. If he held it, he would protect his initial investment (take money off the table) and let the rest run.

He thinks this company is a good stock and a well-run company, investing in infrastructure including the Bangor airport. This is a good long term holding, he thinks.

He thinks this company has a good platform, but the challenge is around valuation. Recent rumours could cause multiples to drop quickly.

This company is like owning a venture capital firm with investments in Uber and others. The company may make investments in 20 ventures, hoping one really hits.