BUY ON WEAKNESS
He is not a fan of retail stocks, but Costco is in a world of its own. They rely on membership fees for profitability and those numbers keep growing. He would look to buy on weakness.
TOP PICK
The ultimate value stock. Money is going back into value stock and it is showing with a technical breakout. He started buying for clients last week. Their may be a temporary setback if Warren or Charlie are not longer there as he believes there are already many qualified people making the investment decisions these days. Yield 0% (Analysts’ price target is $248.75)
TOP PICK
Money appears to be returning into the energy sector. They still have some debt, but the oil sands properties are good. They are 80% oil based and own two excellent refineries. Yield 1.95% (Analysts’ price target is $15.20)
TOP PICK
A French drug company that is starting to run. Th patent cliff has occurred and they have been busy bringing in new products. They also have a very profitable consumer health business. Yield 3.44% (Analysts’ price target is $54.17)
COMMENT
Market Outlook The market appears to be changing with money coming back into value stocks, not just growth and technology. He thinks there is still lots of money sitting on the sidelines that can fuel the market higher. Yield curve inversions have for the most part returned to normal -- even negative bond yields in Europe are starting to end. He thinks government and personal debt will be a problem, but highly levered corporate debt will likely be the first issues. He has been buying high quality (P2) preferred shares.
BUY
As a cyclical stock it is starting to go back up and the outlook is fabulous. They are largest manufacturer of fluid pumps. They have a record of raising dividends for the past 40 years.
HOLD
If you wanted to outperform this market, you had to own Apple. He has not owned it as he is not focused as much on technology. Although iPhone sales have not been robust, they have been moving into services and thinks 5G will create opportunity.
HOLD
This is a company you needed to outperform the market this year. He would continue to hold it as the valuation is getting a little pricey here.
WAIT
All the telcoms in Canada have been excellent places to be as of late. Lower interest rates helped them this year. As interest rates start to go back up, the share prices in this space are vulnerable to weakness. He is not prepared to guess where rates are going. He would wait to buy.
BUY

A uber-cyclical stock into mining, roads, forestry, etc. The price of copper has broken out to the upside, which may be a signal for higher commodity prices and for this stock. He would consider buying here.

DON'T BUY
He would not touch any of the cannabis stocks. They simply do not trade on any meaningful valuation metric. Even the big players do not know when they are going to become profitable. There are too many participants and there is no brand recognition yet.
HOLD
Being purchased? Why its trading over the $34 offer price is possibly due to short covering. There is a long period before the deal closes and Cineplex still has a chance of finding a higher bid. He would continue to hold it to tender and not sell.
COMMENT
Guilty on federal charges Corruption acquisitions were dropped following a guilty decision on fraud. The stock is up almost 25% at the moment.
COMMENT
Not a fan of the infrastructure space, but at least SNC Lavalin today has put this fraud scandal behind them (by pleading guilty....He's not bullish emerging markets, particularly India which may be entering a real estate crisis; Chinese growth keeps slower; and Latin America is not in great shape...The rest of 2019 will be calm--no interest rate hikes, no hawkish statements from banks, unless Trump says something about the China-US trade deal. We'll end 2019 on a positive note.
COMMENT
Brexit deal positive for them? Doesn't know how Brexit will effect them. 33% of their business is in the UK and half in the U.S. They've been struggling like all insurers because of low interest rates. If those rates don't rise, AEG will languish. They have enough capital, and boast reasonable total returns. Dividend is high at 7%.