COMMENT

The push out of a senior executive, Bruce Linton, at WEED-T is a good signal for the company he thinks. There was not damage done by the Exec and he has done well personally by the agreement and is off the Board as well. This gives the Exec a great opportunity to sell his shares at a great value. The company has a $40 billion market cap. Constellation Brands had to take a charge against their $5 billion investment. Right now, Norman believes this is not an investable space yet -- the real leaders have not yet emerged. He expects further shake-outs in the space to come. There is no real brand recognition today.

agriculture
COMMENT

The push out of a senior executive, Bruce Linton, at WEED-T is a good signal for the company he thinks. There was not damage done by the Exec and he has done well personally by the agreement and is off the Board as well. This gives the Exec a great opportunity to sell his shares at a great value. The company has a $40 billion market cap. Constellation Brands had to take a charge against their $5 billion investment. Right now, Norman believes this is not an investable space yet -- the real leaders have not yet emerged. He expects further shake-outs in the space to come. There is no real brand recognition today.

breweries / beverages
COMMENT

NA or LB? He prefers NA-T as it is better quality and has a more diverse revenue base. He thinks LB-T is having issues and that will continue for some time to come.

banks
COMMENT
Laurentian Bank

NA or LB? He prefers NA-T as it is better quality and has a more diverse revenue base. He thinks LB-T is having issues and that will continue for some time to come.

banks
DON'T BUY
The problem he sees is that they are catering to people who are financially stressed. Their main target is homeowners who have repairs to make that are financially stretched. That group does not have the money to acquire things like the company needs them to. For now, it look vulnerable to him. He has not used their online system to make purchases, but is not convinced it is doing that great.
specialty stores
HOLD
Assets and liabilities don't add up? The company owns a lot of different businesses. They only report on things they own 100% of. Investors buy this to follow the success of Warren Buffet. The stock performance has lagged the market as it is harder to grow at the size the company has become. He would continue to hold it, if you own it.
insurance
BUY
Rate cut opportunity? He does not own any REITs, but is looking closely at this one. It is extremely well managed and has great properties. It looks like very good value and if Fed rates do drop, it would benefit. (Analysts’ price target is $31.00)
REAL ESTATE
HOLD
Enbridge
He owns this and bought more during the tough times. Line 3 may be delayed and there is controversy over Line 5 in Michigan. It has a healthy dividend that is well funded -- close to 7% yield. All the issues will work themselves out. Any disruption of oil flow would be dealt with quickly, due to the strategic need to feed the US refineries.
oil / gas pipelines
HOLD
The gas stations and convenience stores have been under pressure by the environmental groups. Although electric vehicles are coming, it is a very small fleet and will remain small for quite some time. He would continue to hold.
food stores
HOLD
The gas stations and convenience stores have been under pressure by the environmental groups. Although electric vehicles are coming, it is a very small fleet and will remain small for quite some time. He would continue to hold.
food stores
DON'T BUY
A generic drug company that has had troubled times as pricing is becoming very competitive. Buyers are consolidating and squeezing margins. They have a MS drug that was a market leader, but now there are others competing. He would rather own brand name drug companies that can become leaders in their field.
biotechnology / pharmaceutical
BUY
BB&T Corp.

He owns BBT-N. The company is involved in a merger with Suntrust. It is a franchised bank on the east coast where there is good economic and demographic growth. Even during the financial crisis, they managed affairs well. The US banks have been stuttering as the yield curve has become flat. He would still be a buyer here.

Financial Services
BUY
Suntrust Banks

He owns BBT-N. The company is involved in a merger with Suntrust. It is a franchised bank on the east coast where there is good economic and demographic growth. Even during the financial crisis, they managed affairs well. The US banks have been stuttering as the yield curve has become flat. He would still be a buyer here.

Financial Services
COMMENT
Manulife Financial

MFC-T is the country's biggest life insurance company. He owns Sunlife instead as he feels it is better managed.

insurance
COMMENT

MFC-T is the country's biggest life insurance company. He owns Sunlife instead as he feels it is better managed.

insurance