Market. He is happy to emphasize Canadian Equities. There can always be a plunge in the markets but if you look at the US the earnings grew into the level of the market. But the high tech companies trade at very high multiples and skew the average. The value part of the market is fairly valued. The economy probably has another 18-24 months in it and that should help the markets. Tariffs do not change his strategy but he does not know what the outcome will be from the trade wars. There is global liquidity being taken out of the system. It should make security selection much more important in the upcoming years.


He has MG-T but owned LNR-T in the past. He likes the size and penetration of MG-T in the market. LNR-T took a bit of a hit recently. It is cheap if you believe trade wars in the auto industry will not happen. It is probably one to look at.

transportation equip & components

It is a great company. He is a value investor so does not over pay for what people are predicting in the future. They have razor thin margins. He thinks today the company has to be perfect going forward to justify this price.

specialty stores

He is wondering why it is where it is. SLF-T is on more of a tare than MFC-T. It has a bit to do with the mix of business. He thinks it is worth $30. Sometimes these things happen in the market. He owns it because the market is not efficient. You have to have patience.


Great subscriber numbers. It is getting close to what he thinks it should be valued at. Most people don't recognize the value in their sports franchises. It has been stalled out. They have benefits of being part of a great oligopoly.


Energy service sector. It is more volatile. He has PSI-T and PD-T. He does not have a lot of weight in the oil and gas sector. He quite likes the two he has. If things get low because of seasonality, it is a good opportunity to buy.


Cannabis. The stocks are flying a little high. It would be like jumping into tech in 1999. It is tough to gauge the future.