He thinks the company still has a ways to go to prove it can make deliveries. Overall, people have been disappointed with this company for some time. The company must get back to a sustainable level of profitability -- something he does not see happening soon.

One of his principal bank holdings. Loan provision increases have been occurring and he thinks management is just being cautious. It is well capitalized and trades at a discount to its peers. He would recommend buying here.

Of all the Canadian banks this was the laggard, based on price return. It is priced a little on the rich side. The yield is about 4%, making it attractive. He does not hold a large position, but would suggest others at these valuation levels (both trading on book value and yield).

Legal hurdles? A play on copper and he has been a long term holder. The proxy fights from last year are over. There is some issue about permitting on the upcoming US project. He thinks it will be approved longer term, but it may take longer. With all the turmoil in the world and given we are near an end of a bull cycle, this is a good time to get into base metals. What he needs to see is more investment in industrial production. You will have to be patient. He will continue to hold it.

It has been a recent Top Pick for him. There is new management in charge. The new CEO publicly commented that Canadian cell phone rates are not that expensive. The company has the cash flow and infrastructure and he likes their TV services. This is a good place to be.

He thinks it is selling at a reasonable valuation. It will have to continue to meet and beat investor expectations. He doesn't see the catalyst at the moment to do that. He is not invested right now and might consider looking at it 15% lower than today.