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PAST TOP PICK
(A Top Pick May 16/18, Down 8%) Had a good report today, though it's been a rollercoaster the past year. Oil prices fell off their peak last summer. Also PXT put itself up for auction at the same time. Not good and it didn't work. Earnings reported today up 18% and production 26%. High cash flow and margins and bought back shares the last quarter. Better days are ahead and he likes it.
oil / gas
PAST TOP PICK

(A Top Pick May 16/18, Down 26%) Disappointing, because of overblown fears of a recession that he doesn't expect. This is very cyclical demand for Caterpillar equipment. They reported earnings today and they were in line with subdued expectations. Sales were better than expected and they have partially solved a distribution problem in South America.

wholesale distributors
DON'T BUY
A weak regional bank plagued with operational problems. It won't match the dividend growth of the big banks. This has "value trap" written all over it. Buy one of the big 5 instead.
banks
DON'T BUY
Trading at 11.5x earnings, close to all-time lows. His concern is that it's a highly discretionary, big-ticket purchase and we're not late in the cycle. They make ski-do's and other big-ticket toys. So, what happens to these products (and their demand) in a weak economy? One good change is that they have installed a new chairman. However, they have some operations in Mexico, which is a risk in this era (Trump's pro-America, anti-Mexico rhetoric),.
Consumer Products
DON'T BUY
He sold it last fall because the auto cycle is maturing (sales have peaked in North America where Magna has one-third of its business), and Magna was having trouble with a joint venture in China where it's hard to enforce contracts. True, the stock has bounced back since he sold last fall, but he'd still be out.
Automotive
BUY
They've grown a lot of acquisition in the past 10 years. The last one was synergistic, but ENB took on too much debt, so they've had to divest some operations. Share price is stagnant, though the dividend continues to grow. After two years of deleveraging--and building the Minnesota pipeline--ENB will be in much better shape. So, buy it now.
oil / gas pipelines
BUY
It's a great operator and acquirer of businesses. Caveat: Their latest purchase, of Innovia, has been pressured by soaring commodity prices ( if the resin that appears on the fancy plastic on Canadian bank notes).
packaging / containers