This company is built for the young homeowner, where consumer spending will increase in the years ahead. They payback 55% of net income to the dividend with share buybacks. They are incredible operators and Amazon has yet to find their way into this space. Yield 2.1%. (Analysts’ price target is $210.40)

Competitive call structure, lack of growth. Paying down debt instead of reinvesting in the business, which will hit their growth longer term. Prefers CNQ which has more growth and higher yield.

This is their year. Has rebounded with oil prices, still room to go. Executing well, wall of cash flow coming, good yield.

Buying like drunken sailors causing dilution? Started with the build, then moved to just the buy at extended multiples. Now using cash, which is tamping down return potential. Storm clouds on horizon. Supply far exceeds demand. They’re not really thinking of shareholders when they’re buying at high multiples.

Contender, go by the wayside, or be acquired? Be careful, takeout premium is built in. If no takeout, there could be a blow up in the stock. Stuck in no man’s land, no R&D on pharmaceutical side, no export agreements. Tough for them to compete in exports and pharmaceuticals when the market price of wholesale marijuana reaches a plateau in a year or two.

Well run, good pure play on refining. But you want to own refiners at beginning of cycle, when prices are low or going up, not now. Now you want to be in the integrated space.

Part of Baytex, good way to get exposure to Eagleford as well as Canada. Bought Raging River, multiple is in line, and they have decent growth. Hold your shares if they get rolled into Baytex. Market thinks they overpaid, but if you buy good rocks, you’re going to get a good result.