Commodity prices have climbed, partially due to the Russian war. This stock is not overvalued. He expects continued strength in copper prices, even beyond that war, because of demand for EVs. Share price is now slightly high.
non-base metal mining
It benefited from staycations during the pandemic. The stock has rebounded lately. It will be cyclical, so beware if there is a recession. Until then, demand for snowmobiles has remained strong which bodes well for DOO.
Consumer Products
He bought it last fall, a top pick. It's a reopening stock, so this should grow. There's a decent base building which is good going forward. But energy instead? No. Prefers QSR instead of buying energy at current highs.
food services
It's benefitting from rising energy prices and the Russian war, but he wouldn't hold this long term. He likes it because it is getting into solar and wind energy. The world is moving towards alternative energy.
integrated oils
Sell Vermilion to buy this? He entered this starting last year, because of its lumber business. SJ is a ply on infrastructure, say building ports which need lumber. The stock has trailed since late last year, but current PE is attractive. He would add to this long term. After the current mess in the economy, there will be infrastructure spending.
misc industrial products
Not a big dividend play (it pays below 3%), but it's a good one to look at it. After its recent dip, it offers good value--it's defensive and a hedge against (mild) Canadian housing weakness if that happens.
investment companies / funds
He owned this until last year, selling it because the PE got high. This stock depends on aging demographics. For this reason, he's keeping it on his radar. Not a bad choice for your portfolio.
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