PAST TOP PICK
(A Top Pick Oct 01/18, Down 6%) Likes it as an international play in Latin America where margins are double in Canada. It's well-run. They've made big acqusitions in wealth management which ate into earnings. He still likes it. It pays nearly a 5% dividend.
PAST TOP PICK
(A Top Pick Oct 01/18, Up 25%) It's apartments in Toronto, Ottawa and Montreal. They've done an excellent job buying properities and refurbishing them. Margins are way up. They bought some apartments in Montreal recently. Pays only a 2% yield, but they consistently raise it.
PAST TOP PICK
(A Top Pick Oct 01/18, Up 9%) 47% of its wind turbines are in France which likes wind power. BLX sold off when Ontario's Ford government announced it would cut back on green power, but BLX is on sale now and pays a 3% yield. This has very long contracts at fixed utility rates.
COMMENT
A good time to enter it--it's down now. It's a diversified miner and a play on global economic growth. But its price isn't higher than 10 years ago. Pays a decent yield. This depends on your projection on global growth.
PARTIAL SELL
It depends on your outlook for global growth. Pays a decent dividend and its volumes are holding up. But this stock is below its price 10 years ago. Perhaps take profits.
COMMENT
Huawei and investing in China Huawei is like SCN Lavalin, facing a lot of political pressure. He wouldn't buy it. When investing in China, it depends on what the Chinese government's policy is. Are you friendly or well-connected to the government? Could those connections suddenly change (and hurt you)? Better to invest through Hong Kong, because it's well-regulated and offers quality Chinese companies and there is some protection legally.
BUY
It's the ideal business, taking 2-3% of every transaction, but taking no risk. Competition? Maybe one day cryptocurrencies. You can take profits. It's pricey now. You can't go wrong with this.
BUY
If you like the outlook for aerospace (ex-Boeing), then commercial aviation is doing very well, because the middle class wants to travel. It's wonderful, long-term stock.
BUY
BAM vs. Morguard BAM: He's recommended this and still does. It carries infrastructure, business partners and renewables. It's done very well and just bought Oak Tree, a good purchase for them. Morguard is much smaller. It's trading at a discount to NAV, because it's small and unrecognized. But its price hasn't done badly, though real estate has thrived in this environment.
DON'T BUY
A painful memory. A disastrous pick. It cut its dividend. It failed to succeed producing content for children. This'll be dead money for a while.
BUY ON WEAKNESS
SOT is down because it cut its dividend to re-balance the company and had bought property in Chicago. This has been a pick of his. It's down 30% so it's now an entry point.
COMMENT
They cut their payout. This has been a long-term disappointment, down 30% in the past five years because western Canada is struggling. However, they've done a good job in secondary markets in the U.S. The yield is still above 4%. Now is a good time to consider it, but the tax-loss selling may continue.
TOP PICK

The managers of Canadian REIT, which merged with this and he highly regards, runs Choice. That's important. They can intensify the Loblaw shopping centres by adding retail and apartments, as in four sites in the GTA. This pays a 5% yield. Loblaw is its main tenant, so it's solid. (Analysts’ price target is $13.68)

TOP PICK
The best-managed gold major. Production has been up and beaten forecasts 7 straight years. Two new mines in Nunavut are coming though. If you believe inflation will come back, then gold is a place to be. (Analysts’ price target is $65.43)
TOP PICK
A small cap and a huge success, but it has sold off 23% in the past year. Revenues came in okay, but the EBITDA was only $40 million, instead of $44 million. They made two big acquisitons last year: a medical bedmaker and a Swiss rival. It's a reasonable 18.5x earnings and pays a 3% dividend. It's a play on aging demographics. (Analysts’ price target is $17.63)