Good management. Mostly retail business. Recently raised over $1 billion and seemed to have set a bottom in on the stock. Growth will be slower than average for a while. Looking for an 8% to 10% return including dividends.
Likes agriculture in general. In this case, you get exposure to all of the nutrients. Also likes their US retail business, which they will make money on. Less than 4X earnings.
Expects a weaker US$ and gold will go higher. The only gold stock that is pure gold. Everyone else has other metals included. Good production growth over the next several years.
(A Top Pick Dec 31/07. Down 49%.) Much more levered to some new products than what he would have imagined. As long as you believe there is an economic/stock market recovery this will probably outperform on the upside from here. Hold.
(A Top Pick Dec 31/07. Down 13%.) Bought as a defensive holding and has held up reasonably well. Recession resistant. Has growth in square footage allowing them to grow earnings.
Paying a special dividend along with the regular distribution this month. Almost $3 a share in cash. Sold a bunch of divisions off and what’s left is a little bit of real estate (which they are selling), a very small junior oil/gas producer and a whole pile of cash. Nice place to hide. 18% yield.
Recently sold his holdings. Likes it and it is a place to hide in this market but prefers at $26 or $27. His concern is the US side, which is not going well.
Phone company with a wireless side and Simpatico Internet. Fairly recession resistant and pays 6.5% yield. $3 billion of cash. Good hold for the next year or two. Low growth.
Only 8 companies in Canada that have paid 100 consecutive years of dividends. 6 banks, Imperial Oil (IMO-T) and BCE (BCE-T). From this point, most of your return may come from the dividends but even if you got a little bounce, you could end up with 10%.
A double ETF, which is risky because you can get 10% swings in a day. Oil overshot on the downside. The longer it stays down here, the higher it goes eventually. Expecting it to go higher in the back half of 2009.
Sold half his holdings on the run-up on a takeover rumour. Nice company to hold longer-term. Thinks there is still 5% or 10% in the stock price on a takeover possibility. Would buy under $20.
This would be his least favourite Canadian bank. It is cheap and they have fixed the capital side to be more than 10%. Yield is incredibly attractive but growth will be limited. (See Top Picks.)