There is a group of tech stocks that did not lead in the recent market strength in the US. OTEX-T made a few acquisitions in the year which he thinks were pretty good. The market is sitting back to see where these acquisitions go. He likes management.

One of the biggest companies in the world. Pharama and consumer products. They were hit with a multi-billion dollar law suit that their baby powder has chemicals in it rather than just talc.

Was one of the great performers in the rising markets but has been coming off. If consumer spending shows signs of slowing, then it comes right off due to a high multiple. He would not rush to buy but it is a tremendous franchise to own.

A lot of its business is in the energy patch. It is a family run company that has raised its dividend for decades. This year they paid out a special dividend. It continues to churn out the earnings so is a long term hold.

People line up on a Monday to get into this store. Their management is great and the stock was doing phenomenally. The market is not as in love with high PE stocks and they are banking on China. They were about to open their first store in Beijing. Then those two Canadians were arrested and the new store opening was put on hold.

BNS-T is the only Canadian bank he owns. RY-T is mostly Canada and the US. Bond yields coming off and the flattening yield curve with some inversion has meant they have come off. Don't expect out-performance in the near term.

Their performance has been typical of other regional banks in the US. The yield curve has taken the wind out of the banks' sails. This is a good company, although not a star. It is riskier than many others and would not be his favorite.