DON'T BUY
It has really transformed over the last ten years. It is attractively valued but it will be aggressive in spending that excess capital. You may not see that value-unlocking potential. He would look for more of a stable cash flow. He is not sure how the mine developments will pan work out.
BUY
He was buying up until last week. Gold prices are supportive of drilling and copper demand will go up. They have a clean balance sheet. He likes that you have exposure to a broad arrange of projects.
WEAK BUY
He thinks it is a name you could hold for dividend income. They have heavily invested in fiber and he thinks you will start to see some return on that.
BUY
It has a really great management team. They make wireless chips for iPhone, lots of products for data centers and are the epicenter for a lot of big growth projects. They layer acquisitions on top of all this. They are now looking to make another acquisition.
SELL
A grocery meal delivery company in Canada. He has held it for two years and then sold it last week. They are pivoting more to a grocery delivery service. It is very competitive against established grocers.
BUY
It has been a little volatile recently because of weakness on their Q3 revenue side. He thinks there is upside over the next three to five years.
HOLD
It has been a weaker performer and it comes down to the John Hancock division in the US. In the next 12-18 months they should work through this. He'd prefer BNS-T for yield.
DON'T BUY
It's been a great growth stock over the last decade. The Pinterest deal is a little of a desperation move on both sides. They should focus on expanding internationally. He prefers MasterCard and Visa.
BUY ON WEAKNESS
If we get a move up in rates we could just see some pressure and it may not perform as it has historically. They are well run and benefit from owning cell phone infrastructure.
HOLD
They just reported this morning and they were strong. They benefit from increased crude demand from gasoline as public transportation is out of demand. They have one of the best refinery complexes. He has held it before. He thinks it is a well run company but is a bet on crude and gasoline.
HOLD
He has not owned it, but that might be a mistake. An aggressive management team. He thinks the office space market will recover. They have other assets as well such as infrastructure and alternative assets. You could buy on dips if you want to add to the position.
BUY ON WEAKNESS
His fifth largest holding. He held it for three years, adding to it all this time. He thinks they can add up to 150 locations in the US over the next ten years. They are in the sweet spot in the market. The share price could double or triple in 4-6 years.
DON'T BUY
A great performer, rolling out restaurant point of sale systems. There was a short report out a couple of weeks ago on the name but he does not think there is much to it. He would prefer SHOP-T if you want a Canadian software company.
BUY
Medical device maker. It has been a bit of a laggard. It was the market darling until 2019 and then they started to have a couple of misses and issues with products. He thinks these are all transient issues. He thinks in 2022 they will grow revenue in high single digits. He is going to stick with it and would buy it here.
BUY
The issue with the share price is that some of the larger US cable companies are alluding to weak ad business. He thinks it is pretty strong for a Canadian cable company. The cable slowdown is more transient, just affecting the back half of the year. It has a nice yield. The family manages the company fairly well in his view.