He was not overly enthused by the Husky take over. He has warmed up to the outlook of the stock in a better oil price environment. At $50 oil, they do not compete as well as CNQ or SU. He has started to dip his toe into CVE. At $50 oil, they would be trading at a 24% free cashflow yield, which is compelling for a large cap stock.
(A Top Pick Dec 19/19, Down 64%) It offers meaningful beta for increasing oil price. He thinks it will lag other names, especially since more and more investors favour MEG. He does not hold it.