The Canadian telco's are a staple in balanced portfolios. This is not the same story with US telco's. They spent a lot of money making acquisitions leveraging up the balance sheet. The dividend is high. However, the share price has been range bound. So the performance of the stock has not been meaningful. He thinks the chance of AT&T raising their dividend is very low. They are selling off some assets to pay off some debt.

They have exposure to the US but were late to the table. It is trading at a discount to their peers and he thinks this discount is justified. The discount therefore creates a buying opportunity. He thinks the valuation is attractive.

It was one of the Canadian darlings but has suffered since. It got ahead of itself on a valuation basis. As soon as they had some bad news, the market really punished them. At these levels, they are real beat up and sees this as an opportunity. He thinks you will be happy owning this in a year's time.

This is a huge engine that has continued to post strong numbers. They generate a lot of cash. This is a real growth stock. It is difficult to buy this stock at any reasonable valuation. It has never traded below 20X earnings over the last 5 years. It is a very low margin and is all about turnover. They generate about 25% of their revenues from membership fees. The business executes well.

This is very much a yield, interest sensitive stock. Interest sensitive stocks have been on a real ride the last while. Transcanada has participated in this ride. Need to look at portfolio to see what percentage you have in other interest sensitive names and may need to trim. Most of the good news is already baked into this name.

He is bearish on commodities and has been for several years now. Last few years has been considerable underweight to commodities. He has held Suncor however, to get exposure to energy. This is a conservative way if looking to have exposure to energy. Again, need to look at over all portfolio from a sector perspective.

(A Top Pick Jun 27/18, Up 3%) They are in the home insurance business and more particularly title insurance. In the US housing markets, prices have softened. This has had a negative effect on this name. The title insurance premium charged is based on the price of the home. So this has hampered its stock performance. He still likes the name and it pays a decent dividend.