DON'T BUY
He holds zeo gas exploration, but if he had to own one, it would be this for its integration. The Oil Sands are a costly asset as the world moves away from fossil fuels. Oil prices may not reach the highs of a few years ago. He doesn't like commodities, because the market tells you what that commodity is worth. He doesn't like price-takers, but price-makers (like airlines).
STRONG BUY
Loves it. MSFT is still misunderstood: MSFT is actually part utility, because you must pay MSFT once a year to use their services, just like you would pay a utility regularly. Guarantee income. Also, the cloud business still has enormous room to grow.
BUY

Which North American rail to buy? He used to own CSX. Rails are a good sector--more fuel-efficient than trucking. CNR is the best rail stock in Canada. Rails are a good investment. He's a little nervious that Canadian rails carry so much oil, because he's not a fan of commodities.

DON'T BUY
CEO Gerry Schwartz finally got his airline. Onex knows airlines very well; it made a lot of money in that business. Airlines are an oligopoly in Canada and getting more profitable all the time. But Onex pays a meager dividend, 0.5%. They can afford to pay more. It's a huge conglomerate with many holdings, so hard to analyze. Some says Onex is trading at a discount to its parts.
SELL
Oil field services are no longer profitable, given too much capacity in the Canadian oil patch. Write this off against your capital gains.
COMMENT
They always bad a bad rep among Canadian banks, but it's doing better lately, trading a full point ahead in yield vs. its peers. It has the best valuation among Canadian banks. CM's big exposure to Canadian mortgages and fears of massive defaults? He doesn't worry, because the CMHC protects mortgages here, and many mortgages have a good loan-to-value ratio.
BUY ON WEAKNESS
All the Canadian telcos took a hit when Rogers came out with a much-lower data plan. Now's a good time to buy Rogers. The sports part of Rogers is a distraction that has little effect on the stock, even the Raptors' championship. Sports revenue is not that huge compared to Rogers' overall revenues.
TOP PICK
An unusual pick for him: Amazon doesn't pay a dividend and trades at a massive 70x forward earnings. What works for him is that Amazon has a huge future ahead. It's increasingly an advertiser; it makes a lot of money in Prime memberships; it pioneered cloud computing which is still in its infancy. He finally pulled the trigger on this after five years of watching it. (Analysts’ price target is $2249.27)
TOP PICK
Nobody has replaced wooden railway ties, which regularly wear out--and SJ supplies them. He expects good years of earnings ahead. (Analysts’ price target is $51.86)
TOP PICK
Manages nearly $400 billion in worldwide assets (highways, sea ports, airports). BAM is loved by pension plans and insurance companies that must invest long-term with a steady return. They get both a management fee and a piece of the action. Run by the best CEO in Canada. BAM is undervalued now and should be a core holding for all Canadians. (Analysts’ price target is $73.01)