You are betting on content to drive sales. You are betting on management's innovation to create the next big toy or two. They don't have a debt problem. They aren't that stable on the earnings front.

Defensive in nature as the main anchor is Loblaw. They transitioned out of it 6 months ago. Trading at 16 times Price-to-AFFO (after funds from operations). In general the sector goes where interest rates are going.

It is on sale. The dividend is stable. Main pipeline out of Fort McMurray. There is a scarcity of assets they have which makes it valuable. They made some acquisitions that they didn't over paid for them. Balance sheet is good. They have had it for several years now.

A large position for his clients. It has been thrown to the wolves as the Street didn't believe they could sell assets to rationalize their balance sheet, but they did it. It trades cheap. One of their thesis is that Bank of Canada and the Fed is going to slow down on their hikes as the global economy is going to decelerate. In this scenario utilities outperform. The Spectra asset is gassy. With 6-7% dividend yield all you need is 4-5% growth to get a 10-12% return.

A company that was under stressed. It was over levered. It starting to restructure. It had a couple of Target and Sears properties. They had to cut their distributions. They brought new Management. He would say it is cheap but stay away from it. It's tough.

(A Top Pick Sep 13/17, Down 36%) Got out of it at around $20. It was a leverage problem. Since the last quarter there are rumors that the dividend is going to be cut. At 14% yield the distribution is unsustainable. they still have good assets.

(A Top Pick Sep 13/17, Up 8%) This is about the 6.625% 2021 Bond - They have owned it since 2016 when the last oil crisis happened. Since it merged with another company it is a lot less risky. better coverage ratio. Sometimes they prefer to have the bond with an equity-like return.