He owns Morguard Corp. (MRC-T). He likes it because they hold a large portion of the free cash that is generated which gives them much more opportunity to do something with it. It is an attractive compounder.

He really likes it as a company. He has not owned it in a while but it was a mistake. It was always out of his price range. He has a hard time with the valuation.

He likes it. It is well run. There are concerns around their balance sheet but feels they will get back to target ratios in the future.

He still likes it although it is not a bargain any more. The free cash flow conversion is quite high in this company. They have done a good job of high grading the quality of revenues of the last couple of years. You are paying a fair price for it and if you are in it for a long time you will be okay in the stock.

It is a real estate company that does triple-net leases. He likes it because they can acquire at attractive cap rates. They go through a proprietary network to find these deals. He has a lot of respect for management.

You have to look at the quality of the business behind the high dividend when selecting a dividend paying stock. On one hand they are increasing the dividend but on the other they are decreasing the debt. Just looking at the yield is over simplifying it. He would own if after knowing the risk is mitigated in the price of the stock.

He thinks the impact of AMZN-Q coming into the space is over stated. When you look at the valuation of WBA-Q today, the huge scale, he has a lot of trust in the management. They are generating a boat load of free cash flow. (Analysts’ target: $71.39).