BUY ON WEAKNESS
Average down? It depends on your risk tolerance and how much you already own. BABA wins over time. It's still now that expensive vs. its growth rate. Q2 was in line as revenues grew 25% YOY. Commercial revenue was up 31%. They did offer a slowdown in their guidance due to overall China slowdown--and that's why the stock has dipped. He expects a strong growth rate in 2019. Be patient. Good fundamentals.
COMMENT
Since 2015, their management has delivered on promises, though last quarter BBD's cash flow had a bad hiccup. Investors punished them. Also the US trade issue hurt them. BBD should be a screaming buy as long as the global economy remains fine and BBD executes. Beware: BBD carries a lot of debt and we're seeing rising interest rates. He still believes in it.
BUY ON WEAKNESS
Their Q3 earnings beat. They made only minor revisions to guidance. They trade at only 7x 2019, lower than peers. Good balance sheet. But their growth is slowing down. He wouldn't buy it now, but it's okay to hold. It'll be higher 3-5 years from now.
BUY
They benefit from the wide WCS differential. They just beat their earnings 7%. Excellent balance sheet. 0.3x net debt-to-EBITDA. 79% payout ratio supports their dividend, and trade cheaper than peers. Only caveat is he doesn't so as much growth in 2019. If you need to own oil, this is very defensive.
PAST TOP PICK
(A Top Pick Dec 15/17, Down 6%) They paid off debt and simplified their structure. Trades at a good valuation with a sold balance sheet. Good dividend and he sees 6% EPS growth. It'll go higher.
PAST TOP PICK
(A Top Pick Dec 15/17, Up 4%) Sees 17% share growth. Still solid. They don't have headline risk like TransMountain. They're involved in smaller projects. Good dividend at 54% payout ratio. They have pricing power. A good place to hide and get paid a decent dividend in a rocky market.
PAST TOP PICK
(A Top Pick Dec 15/17, Up 2%) Emerging markets now are woefully cheap. A catalyst would be a deal with Trump and China or ZID hits a low-enough level which we're close to. ZID is still cheap to its growth rate at 16x earnings. 15.5% growth forecast. A good place to park money and you will win long-term.
BUY
Buy during rising rates? Good company with a 75% payout ratio. Dividend growth to come. Rising rates won't upset that--he sees 5% dividend and share growth in the coming year. Valuation is in the middle at 15x. Not a huge grower now or a screaming buy. But in a few years, BCE will benefit from 5G when it hits Canada.
COMMENT
Their Q3 beat the street and they're buying back shares. Bad news is they're lowering production--flat growth in coming years. Debt-to-cash flow is 2.3x which is fine. Dividend safe. But if WTI keeps falling, it'll hurt CNQ. Oil prices are manipulated by OPEC, Russia and Trump. CNQ is great at $60-70 WTI.
RISKY
Expensive vs. peers, but excellent assets and an efficient operator. He sees 10% growth. He likes it. Buy only if oil hits $60-70.
RISKY

About 66% of production lies outside Canada. It's trading cheaper than historically. He sees cash flow per share growth. Safe dividend. Good balance sheet. Market didn't like their last quarter because of weakness/concerns in the Caribbean and European operations. They made some acquisitions that'll benefit them. Buy if you feel oil will top $60-70.

HOLD
Safe dividend. 16x valuation. No growth over two years. Okay for capital and a hold, but not for new investors.
BUY
Safe dividend. Good balance sheet. 17x earnings. Headwinds coming with planned outages. Likes it.
COMMENT
Cheap at 9.6x earnings. Solid dividend. Red Hat deal was good for them. It's tempting to buy now, but...he needs to see more of a catalyst, other companies with better growth.
DON'T BUY
They cut their payout ratio by 50% and selling non-core assets. Their debt-to-fair value is a little high. Not much growth here. One good thing is it's cheap with a low payout ratio, so dividend is safe.