COMMENT
He would prefer to avoid this very cyclical sector right now. There is so much uncertainty and he does not have a lot of conviction around the Canadian energy producers. He would prefer to hold more infrastructure based companies like pipelines or mid-streamers. He thinks SU has staying power, but he is not sure the dividend might not get cut.
BUY
He thinks the telecoms are defensive and they have held up well as a whole. The valuations are not as rich as the utilities (around 16 times earnings). He would own T here. He favours the Canadian telcos as they have a higher dividend in general.
COMMENT

He does not own FB. He prefers GOOG, which has a stronger financial position and has a better advertising revenue model. Online advertising cuts will impact both of these companies, however. He thinks GOOG will remain profitable going forward.

COMMENT

He does not own FB. He prefers GOOG, which has a stronger financial position and has a better advertising revenue model. Online advertising cuts will impact both of these companies, however. He thinks GOOG will remain profitable going forward.

WAIT
He would wait on this one. A v-shaped recovery would be good for AC. However, if the recovery drags out, travel will be slow to recover. AC needs a high utilization rate to be profitable. High fixed costs are a key to their headwinds.
DON'T BUY
72% dividend cut? He would prefer holding other pipelines. IPL was in the midst of building a new plant and was caught by the downturn. Their pipeline assets are strong. He would look for safer pipeline names.
TOP PICK
You get a low risk business model. It has performed well in previous market down turns. It trades at 9 times cash flow with only a 70% payout ratio on the dividend. Yield 7.39% (Analysts’ price target is $52.84)
TOP PICK
He has owned this for a long time. It is the private equity investor in real assets and acts as the parent for the entire Brookfield family. Although a lower yield than their other public entities, they have access to their asset management business that is growing quickly. They have lots of excess capital and dry powder to take advantage of market opportunities. Yield 1.36% (Analysts’ price target is $56.37)
TOP PICK

They are more insulated from online competition like Amazon. They have addressed some short term issues and it is well positioned regardless of the economic environment. Yield 0% (Analysts’ price target is $88.05)