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Market. Canada had a surprised economic contraction based on housing. He is not too concerned about that. The stock market today is really concerned about global growth and whether Trump will derail this nice cocktail we have had with trade wars. One month’s data and especially based on housing does not surprise him. In 2017 we were third last in the world in terms of market performance. Now we are up to 12^th worst. We have uncertainties and headwinds that cause money to be moved outside of Canada. It has created a market that is at the same point as where it was 14 years ago. He has been hanging out in Canada and it has been a very happy story.

(A Top Pick Apr 21/17, Up 32.89%) They were big beneficiaries of anticipated Trump tax cuts. He models 23% earnings per share growth. It is one of his favorites amongst the US banks.

(A Top Pick Apr 21/17, Down 2.09%) This is the Canadian vacuum. The reason for buying is still all intact. It is being ignored because of NAFTA concerns. Value will really surface.

(A Top Pick Apr 21/17, Up 18.42%) The emerging markets were cheap relative to Canadian markets. They are still cheap. You are seeing the beginnings of earnings acceleration in these countries.

He is looking for value. There are dilutive concerns, concerns about an acquisition and it is a multi class structure. It is giving you one of the highest yields it has ever given you since it has traded. These are real smart guys. You will get paid nicely to wait. The management will really add value over time. (Analysts’ target: $31.20).

It has gone through a lot of changes recently. They had a tough winter. They had capacity constraints. It is the cheapest it has been in years. He models 9% earnings per share growth. They can fix their issues. They should be trading at a premium. (Analysts’ target: $104.94).

A sleepy little story. It is really cheap. He likes it for strong buybacks, dividend growth and upping their return on equity. 11% forecast earnings growth. (Analysts’ target: $55.00).

This has been a really good name for him but it has done the heavy lifting now. The payout ratio is creeping up a bit. He would sell calls on this. It probably will not be doing any heavy lifting going forward.

This is cheaper than its peers and its 5 year average. 64% payout ratio so the dividend is safeish. They have nice growth. The only problem is the balance sheet. The debt is not bad but there is not a lot of wiggle room.

It is a small cap. The balance sheet is not bad. There are a lot of dividends in Canada that are a lot higher than they should be (5-7%) but he feels we have an all clear on this one. He models 17% earnings growth. Last quarter they beat estimates by 10% and boosted the divided. It is a good buy here.

The banks have gotten a bit cheap. They are trading at levels lower than a year ago and yet show better growth rates according to his forecasting models. He thinks all banks in Canada are a buy. This one has a good earnings profile and the dividend is fine. Sell a put at $58 or just buy it. TD-T and BMO-T are showing better growth, however.

He advocated selling calls a few months ago. It has now come down to a level where it is more compelling. If wire line pricing does not improve, the market will be concerned it about funding its dividend. They are slightly cheaper than their peers. They have a good dividend and they are decent value. Buy a put at $54.

The decline is probably overdone. 2018 is probably not going to be as robust as 2017. They have higher cap-X and they did not raise their dividend. He models 8% earnings growth. This is a name you can own, possibly through a put. He thinks it will do some heavy lifting over the next 12 months.

They announced a partnership with Lift on self driving cars. He models 10% share price growth. They trade at a pretty good discount to peers.

It is symptomatic of the Canadian Market. They have a 7% dividend. Maybe the market is seeing this properly and it is down for a reason. It is possible. More probably is that interest rates are low long enough that it should not be trading at this level. He thinks the dividend can grow over the next 7 years There is value all over this name.