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Today, Michael Sprung commented about whether ENB-T, CNQ-T, CM-T, CNR-T, CP-T, BAC-N, VET-T, FTS-T, DOL-T, LNR-T, TD-T, MFC-T, ARE-T, SU-T, SLF-T, CAE-T, G-T, BCE-T, IPL-T, BTE-T, ALA-T, BAM.A-T are stocks to buy or sell.

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BUY

It's done well recently. If there's a correction, this'll be a good place to be, with its dividend. If you own, hold. If you don't, look into it.

COMMENT

Usually in rough markets, there's a flight to gold, but that's not happening now. Goldcorp is one of the few in this sector he owns. It's a lower-cost producer with future growth. He holds only 3% gold.

BUY

Is Quebec a dangerous place to invest? National Bank is worth considering, which he doesn't own. But he owns CAE, very well-managed over the decades. They don't depend on the Quebec government. It's diversified very well. A solid hold for him.

PAST TOP PICK

(A Top Pick Oct 25/17, Down 6%) Still likes it. (Though, he prefers Manulife now with a lower multiple.) SLF is a good buy today than when he picked it. Lifecos will do well as interest rates rise.

PAST TOP PICK

(A Top Pick Oct 25/17, Up 2%) Financially strong and well-managed and well-diversified (up and downstream). Solid balance sheet. This could be a consolidator if things get worse in this sector.

PAST TOP PICK

(A Top Pick Oct 25/17, Up 9%) It's been a rollercoaster, given the Chinese bid that Ottawa struck down earlier this year. He sold at $19. He'd look at re-buying it. In this sector, he'd look at this and Stantec.

BUY

Still a buy despite the legal challenge? He lends no credence to this case. Any court will side with MFC, given the law. The case is not a headwind--look past it. MFC is very well-managed. They've turned around since cutting their dividend during the Recession a decade ago.

COMMENT

All the banks will have a rough ride if the China issue blows into a trade war. TD has great exposure to the U.S, though it has limited ROE for the short-term. He owns a small holding of TD. It's selling at a premium to its peers, which are a better buy.

BUY

Autos are under pressure now given US trade issues. The USMCA may not be good for Canadian auto companies. He has long owned and likes it a lot. They have a diversified and efficient production base. One of the best companies in the auto sector. We could be in an extended auto war between China and Europe vs. US.

DON'T BUY

As a value investor, he didn't own it on the way up. Investors believed their growth would continue at a high pace. When that pace stumbled, the price crashed. He doesn't follow DOL closely, so he doesn't know if it has hit bottom. Also, retail has problems with online vs. brick/mortar. This whole space is changing rapidly.

BUY

A recent top pick. He likes it a lot. They have diversified into the U.S. in utilities (transmission and production). An exciting company. Managers have done a great job positioning it as a North American utility.

BUY

Well-run and diversified. Has a solid balance sheet. Buy, if you're long-term. The sell-off has been overdone. VET gets international prices for its products, unlike many Canadian energy companies. The yield is safe.

BUY

What's hurt BAC is their exposure to capital markets, more so than its peers Citi and JP Morgan and Wells Fargo. The multiples are at a discount at the Canadian banks. You can look at this stock and space. He's buy 2 or 3 US banks instead of 1 though.

BUY

CP vs. CN It's as good as the Canadian economy. Ottawa's policies haven't been kind to our economy. CP vs. CN depends on their pricing at a given time. CN has a better network across North America, whereas CP is more Canadian. Both are good railroads.

BUY

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