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Trans Mountain Pipeline. He thinks the Trans Mountain pipeline nationalization was caused because of the Federal government forcing themselves into approving only one pipeline. He does not want to see another National Energy Program. He is hoping the move will convince investors to come back to Canada. The challenge will be finding a buyer once the pipeline is completed. Hopefully this is a good thing for Canada and Alberta.

Market. Value is coming back into equity markets, albeit with higher volatility than last year. Economic growth has been tepid for the past 10 years, but at least it is still growing. He feels we are in a much more positive environment than before. This is a good time to be choosy when buying stocks – look for good management and balance sheets.

Bombardier Common versus Preferred Shares. Preferred shares will be much more sensitive to interest rate hikes. They have announced diversification of their aircraft fleet, but they still remain with a stressed balance sheet. He would not own either one.

This has been a great growth story, but he feels it may be too expensive for growth that may be coming in the future. The current multiple is excessive in their opinion.

Several banks have reported great earnings, but the stock price has not reflected that. This would be a good buy right now. Their earnings have been good and it is one of their core holdings. He thinks it is a better holding than TD-T, who has spent a lot to acquire new US markets. Yield 4.4%

You can play infrastructure through those who build it or through those that handle the engineering. He has not had a lot of exposure other than through Brookfield. He is watching Stantec closely on the engineering side, who is more focused on pure engineering. (Analysts’ price target is $67 )

If you are in it for the long term, this is a well management company. They have good diversification in several markets. A good buy trading at a fair valuation at the moment. He has a small exposure to it and will continue to hold it.

He owns it personally. He has a great admiration for management as it has been a strong manufacturer of quality parts internationally. The sector is facing headwinds due to the high rate of production relative to demand. He would continue to hold it.

Better to hold the preferred or common shares? Preferred shares will be much more sensitive to interest rate hikes. They have announced diversification of their aircraft fleet, but they still remain with a stressed balance sheet. He would not own either one.

For the risk adverse investor, the mortgage issues they have recently had requiring reserve requirements and buybacks is making them a little more risky, hence the higher yield. It is trading below book value with a 5.6% yield and he thinks the dividend is safe for a long term investor. Yield 5.6%.

He thinks the Ontario election could cause some danger. This has been a political football for many years. There has been mismanagement of the hydro assets, which has resulted in dramatically higher rates over the past 12 years. Are you really buying a private company, when the government still owns over 40%. They have been attempting a US acquisition, which may face delay if there is a new government. Shareholders have a chance of being treated poorly following the election. An NDP government may look to purchase the privately held shares but would not likely re-purchase them at the issued price of $20.50 per share.

What is in it for the shareholders when the Canadian government is involved? Will they make Canada a friendly place to invest again? There is so much uncertainty, so he would not be considering this as an investment.

He does not own it, but he is watching closely with the recent pullback. It is extremely well run, but operates on thin margins. He would wait until after the Ontario election, because insurance rates can be a political football. It has a good long term future. (Analysts’ price target is $108 )

He has been watching this closely. It trades below book value, which has historically been a good buy signal. They have had some operational issues, but their input costs have been going down which should overall improve margins. Container board sales have not been as strong as hoped. The tissue industry is also somewhat oversupplied right now. Buying under $12 is a good area, where he thinks it would go back to $15 to $18.

He is a fan of this company and has recommended it in the past. It has not worked out to date. They have been paid out on some of their assets, yielding a return on investment over 40%. The key will be in how they redeploy the money. Management is doing a good job at getting the story out. He does not think the dividend is at risk if they can deploy the capital before year end. He considers it a speculative buy. Yield 10%.