PAST TOP PICK
(A Top Pick Aug 09/22, Down 1%)

It's too cheap now, but far more stable than peers like Alphabet and Apple. It's steady. He believes in it.

PAST TOP PICK
(A Top Pick Aug 09/22, Up 5%)

Their club system is terrific, with a high renewal rate. They innovate their products and maintain their margins. Lots of room to open new stores, even in North America. The best brick-and-mortar retailer.

PAST TOP PICK
(A Top Pick Aug 09/22, Up 5%)

Pleased that the First Horizon deal collapsed. TD pays a great return on invested capital, about 16%. Great staying power in Canada. The US is investigating it for their money-laundering compliance, but it's not a mortal threat and they'll likely be fined. Likes their big retail platform in the US. It's his second-biggest Canadian bank holding.

DON'T BUY

It's in the most hated sector (office real estate and malls), given low occupancy rates in cities like Toronto and competition from Amazon. Also, Riocan carries a lot of debt. Debt is rising; rents are falling. Don't touch it.

HOLD

Carries a lot of debt and real estate is a disliked sector, but this has potential as a yield stock.

SELL ON STRENGTH
Caller has made a nice profit, so sell?

Loves it. If you're made a nice profit, why not sell a third of it? Sell if a stock becomes larger than 6% in your portfolio.

BUY

Many dislike this for owning a lot of real estate, but if you add up all the publicly traded companies that BN owns, you get the real estate for free. A worthwhile investment and you should buy. The best-managed conglomerate in Canada.

COMMENT

Have they atoned for their bribery sins and reformed? It's a different company now, out of the energy business and run by different people. He needs to look at this closely. It nearly didn't survive its corporate misconduct.

BUY

A great long-term hold. Every pension fund needs long assets like infrastructure. Brookfield probably holds the best stable of international properties. People own this for the dividend, but these stocks have struggled this. Now is a terrific entry point for BIP.

DON'T BUY

They're face increased regulation around the world, like battles over employees' minimum wage and worker safety--they're losing these legal battles. Also, there's fierce competition. It's never been a profitable company and he doesn't see profits ahead. A risk of paying their drivers more, which will eat into profits.

SELL ON STRENGTH

They stumbled into the hit drug, Ozempic to treat obesity. Nobody knows the long-term effect of this drug yet, but sales are through the roof. NOVO now faces a lot of competition in weight-loss drugs. If you've made a big profit, take profits. 

DON'T BUY

It's never done anything and has disappointed shareholders. He owned shares 10 years and sold it because he got fed up with its lack of progress.

BUY

Depends on the price of timber which soared during Covid, then plunged, but is now reasonable. WFG will benefit if there's a housing boom. Don't trade this, but buy and hold it.

TOP PICK
Commodities

His favourite is natural gas. Solar is at the mercy of the sun, and suffers on cloudy days. Nat gas you can turn on and off at will. The more solar and wind power, there will be more nat gas demand with nat gas as a back-up. He read a book that says that modern civilization depends on 4 cornerstones which all rely on fossil fuels: fertilizer-driven agriculture, cement, steel and plastics. Even if every car was an EV, we'd still need fossil fuels. TOU has tremendous reserves and pays a good yield.

(Analysts’ price target is $81.00)
TOP PICK

The classic income stock. The dividend keeps rising year after year and he has clients who've owned it for generations. The stock appreciates modestly. All income stocks are in the toilet because of high interest rates, but now is a great time to buy it. It pays a dividend of 7%. They're finishing their 5G build-out, which will lead to lots of cash flow and maybe higher dividends. It's the least-indebted of the big 3 telcos. Oversold now.

(Analysts’ price target is $62.06)