WEAK BUY
They got smacked when they missed their quarter. He's long ATS. It does well counter-cyclically, which means as we head towards a rougher economy, this tends to perform better. He believes management will turn this around. This could be a defensive name as he heads towards a rocky economy.
WEAK BUY
He likes it. Not a cheap stock and the entire cannabis space is challenged. Not for the faint of heart, though. Hexo has good extraction technologies and he can see CBD-drinks doing very well in the future.
HOLD
He's shorted this the past few years. The CEO bougth stock last week. It's fairly valued at $13. He wouldn't buy or sell it. The bulk of their earnings come from car lifts, which is cyclical. Does the last quarter miss mean 2019 will be bad? No, and the CEO buying stock is a good sign, but SIS is a cyclical stock. Long-term as a medical lift play, SIS makes sense.
DON'T BUY
He's been short this. The balance sheet is very impaired. It needs to reorganize. The assets themselves are fine, but they went on a buying spree and now carry a lot of debt. This has lagged its peers in recent years. A bankruptcy is possible.
BUY
Pristine balance sheet with $3/share net cash. They're now up for sale after a strategic review. He expects a major will take this out. His take-out price is in the high-$20's.
SHORT
He's short this. A lot of former income trusts have done a lot of buying because of cheap financing in recent years. This has driven their growth, but financining will continue to get expensive. Boyd has cash, but also debt. They may miss their next quarter.
COMMENT
Junior mining sector Precious and base metals: If we enter a recession, be long precious metals, and be short base metals. Among base, he likes zinc (i.e. Hudbay Minerals).
TOP PICK

Good products and business model. Heading into a recession, alcohol does very well. It's like the old Rothman's, generating high cash flow and paying strong dividends, though the stock price doesn't do much. They could get into the cannabis space. (Analysts’ price target is $22.75)

TOP PICK
It was treated unfairly by its U.S. partner and the market. In 2017, CPH heavily promoted their big product and so they gained a lot of market share. But when they cut their promotion, there was also an inventory adjustment. So, demand went down way more than they should have. He thinks they will rebound in the next few quarter. It's also a take-over candidate. There's no cyclicality to this business either. (Analysts’ price target is $5.06)
TOP PICK
Highest-grade deposits he's seen. A perfect takeover candidate. But there is risk with them operating in Mexico. He expects gold and silver to take off as we near a recession, and this stock would be a home run. (Analysts’ price target is $5.09)
COMMENT
U.S. vs China trade war: This is a president who believes himself to be emperor. If he wants to put tariffs on Europe or doesn't like GM, he doesn't care. We've never seen this. If you're going to wait to see what Trump will do, you'll never invest at all. He's holding only 3% cash. He's slow to reinvest, though, and has taken some profits, but he believes there are always opportunities. He liked Scotiabank's results today--very good with 16% growth YOY in Canadian, and glad they divested their Caribbean operations. They're trading at less than 10x trailing earnings. Canadian banks as a whole are cheap and Scotiabank will grow. In contrast, he's bearish oil. He's incredulous that Ottawa hasn't solved the pipeline problem as Alberta oil companies go under and the country loses millions each day in revenues.
COMMENT
TD just paid $1-billion to score the loyalty rewards program with AC. The airlines finally figured it out: charge customers for everything, like choosing your seat and fuel surcharge. He's bullish this sector which he didn't own for a long time. Caveat: when the economy heads south, this sector suffers.
BUY
It's like Berkshire Hathaway, an insurer that invests in stocks--with a good track record. He's done very well with MKL. A smart company.
DON'T BUY
Volatile. You gotta be brave to invest in this. It's 100% dependent on commodity prices. He doesn't like that. He owns no minerals.
BUY
They've had a few years of bad press, including employees doing fraudulent selling practices. That said, WFC has recovered well. A good bank, though he owns other American ones.