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This company is very well run with an A+ credit rating. They are profitable at $50 oil and the refinery business is profitable. It still is a commodity based company so there is risk.

Revenue growth has been flat for the past five years, but they are sitting with $30 billion in net cash. The dividend has doubled over the past five years and he expects that to repeat. It is somewhat out of favour due to the lack of revenue growth.

This is the personal printing system division. The revenue is growing as is their market share. It trades at a cheap valuation that he thinks should double over time. The monthly ink cartridge purchasing plan is brilliant, he thinks. Yield 2.4%. (Analysts’ price target is $25.60)

They have re-emerged as one of the best capitalized banks in Europe trading at 9 times earnings. The stock price was down on European economic concerns, nothing to do with the bank itself. Yield 6.8%. (Analysts’ price target is $20.05)

One of the largest dividend rising trends in the UK. One-third of the capitalization is in cash. A well-run company with holdings around the world. It is worth double the share price if all assets were valuated. A world-class company offering high-quality products. Yield 1.2%. (Analysts’ price target is 14,000 GBP)

(A Top Pick September 7/17 Up 21%) This remains one of their cheapest holdings – trading at half of tangible book value. He thinks there still lots of runway. The insurance side will benefit from higher interest yields.

(A Top Pick September 7/17 Up 18%) This will be a big beneficiary if the yield curve steepens. They have grown their business in Asia, the US and India. He looks for 10% earnings growth annually and further expansion of the dividend.

(A Top Pick September 7/17 Up 42 %) This is trading for less than the cash value of the company. If you can withstand the volatility the return will eventually be large. To access this you have to trade through someone who trades the Tokyo exchange.

Market. It is a stock pickers market. In Canada, seeing a style rotation. The leaders have been the momentum and growth stocks but are starting to see a few chinks in the armour of these darlings over the last few quarters. The laggards are showing signs of improvements and catching the eye of value buyers. The laggards have been clustered in the resource space. The style shift seems to be from the momentum stocks to the value stocks, but a few weeks does not make a trend. Value does outperform growth over a very long period of time. The catalyst may be rising interest rates. This may not be the definitive reason why we are seeing a shift.

Has been a market darling. IPO’d about a year and a half ago. He does not usually buy IPO’s. Their last quarter was sensational. Sales were up 124% year over and year and turned a profit when analysts were expecting a loss. They are diversifying their lines. It is a very expensive stock. It would be interesting on a pull back.

This is a core part of their portfolio. Own other Canadian banks as well. They own Scotiabank and Royal Bank. TD has nice exposure to USA. He generally likes the banks. They are cornerstones of a well built portfolios. Banks have outperformed the TSX in 18 of the last 25 years. With interest rates rising will provide a catalyst.

Corus Entertainment(CJR/B-T) or Crescent Point Energy(CPG-T). Run don’t walk away from Corus Entertainment. Is a declining business. They own media assets. They have slashed their dividend. There is a governance issue. Going to be hard to get out of this secular decline that they are in. He would sell it. Crescent Point Energy: Some activists involved in this one. The tailwind for this is the rising oil prices. Time on your side on this one. Would be less concerned about this stock versus Corus.

Corus Entertainment(CJR/B-T) or Crescent Point Energy(CPG-T). Run don’t walk away from Corus Entertainment. Is a declining business. They own media assets. They have slashed their dividend. There is a governance issue. Going to be hard to get out of this secular decline that they are in. He would sell it. Crescent Point Energy: Some activists involved in this one. The tailwind for this is the rising oil prices. Time on your side on this one. Would be less concerned about this stock versus Corus.

He has been very interested in it based on the news today of Brookfield acquiring it. Brookfield are an astute buyer. There is a 53% premium attached to this transaction based on yesterday’s close which is roughly the gain today. The strategic process has been open for a few months. Brookfield normally make an offer at a lower price and hope the target management team takes it. Are there likely other buyers? He does not think there are. Brookfield may be the only game in town. If hold stock, will hold to see if Brookfield sweetens the pot but once gets close to offer price, would be selling.

He would sit tight on this one. This is a very consistent growth story in the Canadian technology space. Came out with numbers that were slightly below on top line, operating line and earnings. But miss was small. Amount of organic growth has slowed, but historically organic growth is slow. He would continue to hold this stock. They are a prolific cash machine and very profitable. They are buying back stock and making small acquisitions. Does provide double digit earnings growth so provides good value.