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%.