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Signal Opinion Expert

2017-11-20

TOP PICK
TravelSky Technology Ltd. (0696-HKG)

They are a global distribution system that allows airline reservations.  That market is growing in leaps and bounds in China.  They can’t be competed with by North American systems.  (Analysts’ target: HK$24.58).

Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $0.000
Owned: Yes

2017-11-20

TOP PICK
Persol Holdings (Formerly Temp Holdings) co. Ltd. (2181 JP)

There are one and a half offers for every candidate.  You also have women entering into the workforce.  Companies need to hire HR firms.  He expects double digit growth.  They can help you source temporary workers including foreigners.  (Analysts’ target: 2745.).

Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $0.000
Owned: Yes

2017-11-20

PAST TOP PICK
Persol Holdings (Formerly Temp Holdings) co. Ltd. (2181 JP)

(A Top Pick Dec 16/16, Up 59%)  He thinks it will continue to be a great performer.  There were two lost decades and he thinks they are exiting the lost decade.  They have great exposure to growth in their economy. 

Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $0.000
Owned: Yes

2017-11-20

N/A
A Comment -- General Comments From an Expert 

[Today's show was pre-empted by BNN's coverage of the Nabraska vote on Keystone XL Pipeline.]

Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Management Inc.

Price: $0.020
Owned: _N/A

2017-11-20

N/A
A Comment -- General Comments From an Expert 

Market.  The economies around the world are in synchrony and are good.  It has helped the international markets.  The emerging markets have led the ride.  They have been the best performers.  It is partly driven by a strong economy in China.  The big question is what happens in normalization of interest rates and lack of stimulation.  The macroeconomic text books were wrong and have to be re-written after we see what happens in 10 years.  Inflated real estate is a global phenomenon.  Prices are much higher than they have been in the past.  Sweden is a signal of what comes afterwards.  House prices are starting to decline and it will give us a road map as to what happens as housing prices around the world start to decline. 

Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $0.020
Owned: _N/A

2017-11-20

COMMENT
A Comment -- General Comments From an Expert 

Oil and gas is an area he does not focus on because his Canadian investors can get it here.  He has only owned TOT-N, which he thinks is the best and number two is RDS.A-N.  Tot-N is fully integrated and has the best growth profile of all the majors in Europe.

Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $0.020
Owned: Yes

2017-11-20

N/A
A Comment -- General Comments From an Expert 

Market. There are fundamentals driving the market. The US economy is clearly improving, and starting to accelerate a little. The Trump bump wasn’t so much about that, as it is that US companies are starting to make money, and doing a quite efficiently. If the tax reform doesn’t go through, that is really bad, but on the other hand it will get rid of the Trump bump temporarily. That would be a buying opportunity. He still likes oil long-term. A lot of Canadian producers have become a lot more efficient, which is allowing them to survive with prices at these levels.

John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $0.020
Owned: _N/A

2017-11-20

N/A
A Comment -- General Comments From an Expert 

Energy. We’ve been told that Canadian Oil Sands is one of the highest cost producers globally with a breakeven point of $60, $70 and $80. How can they make money when they are selling it for about half of what it costs to produce? These companies have become a lot more efficient and have been able to cut the costs of production. They can make some money at these oil prices. 

John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $0.020
Owned: _N/A

2017-11-20

N/A
A Comment -- General Comments From an Expert 

Covered Calls? A covered call is where you are selling an option which gives somebody else the right to buy the stock. If the stock is at $50, and you sell a covered call, and if the other person has the right to buy it over 6-month period, they have to pay you a premium for that, probably $2-$2.50. One person might not want to do that as they might miss out on the upside of the stock, which is quite true. An investor has to decide whether they want income or the growth in the stock. The cost is a little more for covered calls. The Bank of Montréal website has a good explanation of how these work.

John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $0.020
Owned: _N/A

2017-11-20

N/A
A Comment -- General Comments From an Expert 

Deep in the money Call Options on momentum driven stocks? This is when a person is trying not to pay too much in premium value, which is the time value of the option. When doing it “deep in the money”, and the stock is at $54, you are buying it at $50, intrinsically worth $4, the time value is going to be compressed. It’s a good strategy, provided it goes up.

John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $0.020
Owned: _N/A

2017-11-20

COMMENT
iShares Cdn Div Aristocrats ETF (CDZ-T)

A leftover from Claymore’s ETF’s. It’s a lesser quality ETF compared to the ZDV in terms of the stocks it holds. Doesn’t see anything wrong with holding it.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $26.780
Owned: Unknown

2017-11-20

BUY
China Mobile Hong Kong (CHL-N)

He thinks it is attractively priced right now and would recommend it.  They have an 80% market share. They are a leader in the world in terms of ecommerce through WeChat usage.  We are starting to see them increasing their dividend.

Telecommunications
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $50.230
Owned: Unknown

2017-11-20

DON'T BUY
Deutsche Bank AG (DB-N)

It is too complicated for him to invest in.  It is too difficult to analyze.

banks
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $19.170
Owned: No

2017-11-20

PAST TOP PICK
Diageo PLC (DEO-N)

(A Top Pick Dec 16/16, Up 29%)  Spirits have been very strong.  Demand for scotch has increased.  They have Guinness which is not growing very fast.  China has come back for them.

food processing
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $137.160
Owned: Yes

2017-11-20

BUY
iShares Japan ETF (EWJ-N)

An ETF for the Japanese market? This one is the clear choice. It is pretty attractive right now. Hedged against the local currency, but you still have exposure to the US$.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $58.980
Owned: Unknown

2017-11-20

BUY
HAP Enhanced Income Equity ETF (HEX-T)

He likes this. A little more diversified than some of the Bank of Montréal (BMO-T) products, which are primarily the banks.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $6.850
Owned: Unknown

2017-11-20

BUY
HSBC Holdings P L C (HSBC-N)

It is a global bank, exposed to China, North America and the UK.  They are doing extraordinarily well in Asia.  They are very well placed for changes in banking in China.  He expects them to do well there.  We will see a new CEO coming in and it will be interesting to see what he does with the bank going forward.  It is a safe investment at these levels.

banks
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $48.340
Owned: No

2017-11-20

TOP PICK
Horizons Inovestor Canadian Equity Index (INOC-T)

A brand-new ETF. They are not doing just industrials, they are also doing consumer goods and services. Still has some financials, about 22% instead of the usual 40%. Also has about 8% tech and industrials at about 34%.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $10.030
Owned: No

2017-11-20

PAST TOP PICK
Intesa Sanpaolo (ISP-BIT)

(A Top Pick Dec 16/16, Up 22%)  He works with a really strong credit team.  He came to the conclusion last year that the banks were in good shape in Europe.  European banks are now fully to over capitalized and can now grow loan demand. 

Financial Services
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $0.000
Owned: Unknown

2017-11-20

WEAK BUY
JD.com Inc (JD-Q)

Ecommerce in China.  It is the ‘other’ internet ecommerce stock in China apart from BABA-N.  It is more like a store that has inventory, however.  BABA-N is through consignment.  JD is cheaper.  It is a good business and is leading edge in technology.  He may look at it in the future if it gets cheap enough.  He owns Tencent (TCEHY-5) but not BABA-N.

Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $39.200
Owned: No

2017-11-20

SPECULATIVE BUY
Lloyds TSB Group PLC (LYG-N)

The BREXIT effect will not have predictable impacts.  He has heard news that May is looking to increase divorce payments.  Until we know how BREXIT will turn out it is hard to say what it will do to the British economy.  This one is trading relatively low to book value.  It is starting to show enough discount to show the BREXIT risk.  It is an interesting investment if you are up to the risk.

banks
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $3.550
Owned: Yes

2017-11-20

STRONG BUY
Nestles (NSRGY-OTC)

It is his biggest holding.  He attended their investment day, talked to senior management and came away feeling quite confident in their future.  They are very focused on growth. 

food processing
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $0.001
Owned: Yes

2017-11-20

DON'T BUY
Nintendo Company Ltd. (NTDOY.PK-OTC)

The stock has had a nice rebound.  The whole gaming space is on fire.  This is becoming a spectator sport.  They have great titles but it is a closed system.  If they ever opened their system you would see the stock double.  They are getting better online.  He is still not convinced.

entertainment services
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $0.010
Owned: Unknown

2017-11-20

TOP PICK
Novartis AG (NVS-N)

It is a very big company with a pipeline of 13 drugs that are close to approves that could be blockbusters.  They have drugs for heart failure that cardiologists are keen on.  They have an eye care drug.  They have a nice mixture of health care drugs.  Pharma is unloved but that is an opportunity he can see.  (Analysts’ target: $93.00).

biotechnology/pharmaceutical
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $83.220
Owned: Yes

2017-11-20

PAST TOP PICK
Questrade Russell 1000 Equal Weight US Health Care tra (QRH-T)

(A Top Pick May 11/17. Up 5%.) The only problem is that it is basically an orphan. Questrade sold all their ETF’s to Wisdom Tree. This one is still trading, but he is out and it wouldn’t be one he would hold because of the uncertainty.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $22.150
Owned: No

2017-11-20

COMMENT
Robo-Global Robotics and Automation (ROBO-Q)

He likes this and thinks it is a good ETF. You buy this and hold it as the industry evolves. This is about 40% US and 30% Japan. It’s a space where we are obviously going to see some growth, and hopefully the company they’ve selected are appropriate.

John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $41.420
Owned: Unknown

2017-11-20

BUY
Banco Santander SA (SAN-N)

Banks in Spain, like the Italian banks were coming off a bottom about a year or so.  This one has about 50-60% of profits from Spain and then the rest from Latin America.  There should be improvements in both markets.  He prefers BBVA-N, which he marginally prefers right now.

banks
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $6.420
Owned: No

2017-11-20

COMMENT
Toronto Dominion (TD-T)

Buy an “in the call money” with a $72 strike price, and going out as far as July? He looks at price, and what he wants to achieve when he does this option trade. Normally he is looking for income. July is a long way out, and doing something like that you are really going to be paying an awful lot for an option premium, which is why he likes selling options. He would rather have people give him the money. You need to think about this a little more, especially if you are thinking of “in the money” calls. That compresses the time value as option traders don’t like to pay too much for stuff. Remember options can expire worthless.

banks
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $73.820
Owned: Unknown

2017-11-20

DON'T BUY
Teva Pharmaceutical (TEVA-N)

He has not been in it for a long time.  It is a very competitive space and a few drugs were up against competition.  He has not got excited about it and has not invested in it.

biotechnology/pharmaceutical
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $13.080
Owned: No

2017-11-20

WEAK BUY
Tata Motors Ltd. (TTM-N)

He likes India and there are great opportunities there.  It is a well run company.  They have good exposure to the low cost vehicle market. 

Automotive
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $32.360
Owned: No

2017-11-20

COMMENT
Visa Inc. (V-N)

A US name and he leaves these to a colleague.  He knows his company likes the names.  A lot of investors are concerned about ecommerce, but he thinks it is a benefit of these companies.  They are transactions oriented.

other services
Adam Thomas

Vice President & Portfolio Manager, Qwest Fund Management

Price: $109.950
Owned: Unknown

2017-11-20

COMMENT
Vodafone Group PLC (VOD-Q)

There is nothing wrong.  They are a good dividend payer.  It is probably the one in telecom he would choose, but has no exposure to the sector at present.  It gives you a nice steady dividend yield.  The one area with opportunity is in India where they are a significant player. 

Telecommunications
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $30.930
Owned: No

2017-11-20

BUY
Vodafone Group PLC (VOD-Q)

VZ-N vs. VOD-Q.  He does not follow the US market.  VZ-N would be the best in terms of the US and VOD-N would be the best internationally.  Owning both would be a good strategy.

Telecommunications
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $30.930
Owned: Unknown

2017-11-20

DON'T BUY
Volkswagen AG (VOW-GR)

They will tell you that everyone was cheating but he talked to the other OEMs who said there was no way they were cheating.  He wants to invest in great businesses run by great people.  He cannot say this for VW so has a hard time investing.  He can’t get around their corporate governance.

Automotive
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $0.010
Owned: No

2017-11-20

BUY
Verizon Communications (VZ-N)

VZ-N vs. VOD-Q.  He does not follow the US market.  VZ-N would be the best in terms of the US and VOD-N would be the best internationally.  Owning both would be a good strategy.

telephone utilities
Mark Grammer

Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates

Price: $46.200
Owned: No

2017-11-20

COMMENT
iShares S&P/TSX Gb Base Metals (XBM-T)

For a longer-term hold? Hasn’t been looking at base metals for a while. He was buying about 1.5 years ago when it looked like they had bottomed out. He’s usually looking at something like this as a sector trade, meaning he wants to get 20% and then get out. For a longer-term hold, he doesn’t see a problem. Wouldn’t want to see more than 10% concentration in base metals though.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $12.890
Owned: Unknown

2017-11-20

COMMENT
iUnits S&P Financial (XFN-T)

This has the banks, insurance companies and mutual funds. He would be more inclined to go with BMO Covered Call Canadian Banks (ZWB-T), but if you want to be a little more diversified, there is certainly nothing wrong with this one.

indexes
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $38.650
Owned: No

2017-11-20

PAST TOP PICK
SPDR Energy ETF (XLE-N)

(A Top Pick May 11/17. Up 1%.) As soon as he bought this, it promptly went down, but he still likes the sector. US based energy should do well over time.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $67.270
Owned: Yes

2017-11-20

TOP PICK
SPDR Industrial E.T.F. (XLI-N)

This has some of his favourite stuff in it, such as defence stocks, plus a lot of industrial stuff.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $70.820
Owned: No

2017-11-20

COMMENT
SPDR Technology ETF (XLK-N)

He likes the sector. Roughly 10% of the S&P 500 is FAANG stocks. However, Netflix is approximately 0.5%. If looking at Apple and Microsoft, they have been around for 30 years and trading at normal valuations. Facebook is about 40 P/E ratio, which is fine for a growth company. He has an issue with Amazon and Netflix which are about 200X between the 2 of them, which is crazy. Amazon is a pretty big percentage of the S&P 500 at about 2%.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $63.590
Owned: Unknown

2017-11-20

COMMENT
BMO Canadian Dividend ETF (ZDV-T)

A fairly typical financial and energy ETF. There is nothing wrong with it. You might want to look at the BMO Canadian High Dividend Covered Call ETF (ZWC-T), essentially much the same stock, but has the covered call override. If looking for income, that might be a better choice as it is paying pretty close to 6%.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $17.750
Owned: Yes

2017-11-20

TOP PICK
BMO S&P/TSX Eq. Wt. Industrials (ZIN-T)

He likes this, because you are dealing with Air Canada, Canadian Pacific, a bunch of airlines, Bombardier, etc., away from the normal financials. Has done very well when compared with the TSX.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $26.050
Owned: No

2017-11-20

COMMENT
BMO EqWt US HthCare Hedged CAD (ZUH-T)

Likes the sector and this ETF. Its US based and well diversified. It’s not just big Pharma, but is various hospital services, management, etc. Given the demographics, the population, etc., it is a really good growth area.

John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $48.470
Owned: Unknown

2017-11-20

COMMENT
BMO Covered Call Cdn Banks ETF (ZWB-T)

Unfavourable in a TFSA account because of the withholding taxes? It would not be in this case, because this is Canadian banks.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $19.450
Owned: Unknown

2017-11-20

PAST TOP PICK
BMO Europe High Dividend Covered Call Hedged to CAD ET (ZWE-T)

(A Top Pick May 11/17. Up 0%.) He likes their exposure to Europe, and it has a Covered Call overlay. The yield is close to 5%-6%. The only trouble with Europe is that it is a political morass, so he could pull the trigger on this holding at any time.

E.T.F.'s
John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $21.920
Owned: Yes

2017-11-20

COMMENT
BMO US High Dividend Covered Call ETF (ZWH-T)

Unfavourable in a TFSA account because of the withholding taxes? This has some higher yielding bonds, but he has no issue with holding this. 

John Hood

President & Portfolio Manager, J. C Hood Investment.

Price: $20.380
Owned: Yes

2017-11-17

N/A
A Comment -- General Comments From an Expert 

Market. Industrials, technology, financials, and materials are showing decent relative strength. The advance/decline lines have been a stubborn holdout, but this week it has turned. Everything else was already moving. When comparing the index to the advance/decline lines, it was still negative, but has flipped and gone positive this week. Signs point to a pretty good run right through to 2018. With higher rates, he believes the consumer and businesses gets us well out into 2018.

Hap (Robert) Sneddon FCSI

Chief Portfolio Manager & Founder, Castlemoore Inc.

Price: $0.020
Owned: _N/A

2017-11-17

N/A
A Comment -- General Comments From an Expert 

Market. He is christening this “The Year of the Repetition”. Feels we are going to see oil and gas pretty much the same. Oil and gas stocks have not really helped the market, but the rest are doing quite well. Mining is humming a bit. It’s at the lower end of things because we don’t have big mining companies any more. Banks will just plow on, so don’t bother to trade them. 

Michael Smedley

Exec VP & Chief Investment Officer, Morgan Meighan & Associates

Price: $0.020
Owned: _N/A

2017-11-17

COMMENT
Aurora Cannabis (ACB-T)

Chart shows some big upward spikes. There is some support at around $3.50. It spiked today to $5.64, and when you have a big spike like this, it’s really hard to tell what is going to happen the next day. Some indicators are rolling over, just slightly, so he expects this is going to be really volatile.

Hap (Robert) Sneddon FCSI

Chief Portfolio Manager & Founder, Castlemoore Inc.

Price: $5.510
Owned: No

2017-11-17

WAIT
Agnico-Eagle Mines (AEM-T)

Probably in a “pause” situation, as it has been for the last few months. This might be that December time, when it breaks above the downtrend that has been going on since mid-2016. He would look at this in December. Overlay this with the underlying commodity just to see how it is acting. If it is starting to move ahead of the commodity, that is probably a pretty good sign.

precious metals
Hap (Robert) Sneddon FCSI

Chief Portfolio Manager & Founder, Castlemoore Inc.

Price: $56.920
Owned: Unknown

2017-11-17

TOP PICK
Altagas Ltd (ALA-T)

Hoping to close a huge US utility acquisition. Chart shows a bit of base at around $27. The recent earnings report was really good. Raised their dividend which laid the concerns about the acquisition being dilutive. Although not a pure energy play, you are getting exposure to gas, you are going to get exposure to other parts of their business. Expects it could reach $35. Dividend yield of 7.5%. (Analysts’ price target is $33.50.)

oil/gas
Hap (Robert) Sneddon FCSI

Chief Portfolio Manager & Founder, Castlemoore Inc.

Price: $29.010
Owned: Yes

2017-11-17

PAST TOP PICK
Aecon Group Inc (ARE-T)

(A Top Pick Sept 28/16. Up 13%.) About to be taken over by a Chinese buyer, but he tends to think the government will step in and block the sale. He likes the whole space. He would come back to this in a heartbeat if the deal fell through.

contractors
Hap (Robert) Sneddon FCSI

Chief Portfolio Manager & Founder, Castlemoore Inc.

Price: $19.590
Owned: No

2017-11-17

PAST TOP PICK
Baxter International Inc (BAX-N)

(A Top Pick Sept 28/16. Up 35%.) Believes he will be holding this for quite a long time. They are the best in the medical devices/medical supply. Expects it might go sideways for a while and it would be a Buy on any weakness.

biotechnology/pharmaceutical
Hap (Robert) Sneddon FCSI

Chief Portfolio Manager & Founder, Castlemoore Inc.

Price: $63.880
Owned: Yes

2017-11-17

TOP PICK
Bombardier Inc (B) (BBD.B-T)

There is an amazing saga of the great bully Boeing (BA-N) trying to crush the situation, but it appears to have reversed on them somewhat. Great technology. Everybody is bored stiff with the delays on this brilliant plane. Now you have the great strength of the Airbus to carry on through. Thinks you are going to see deal after deal on the world stage. (Analysts’ price target is $3.50.)

transportation equip & components
Michael Smedley

Exec VP & Chief Investment Officer, Morgan Meighan & Associates

Price: $3.100
Owned: Yes

2017-11-17

COMMENT
Cott Corp (BCB-T)

Has been out of this for a long time. It moved into a new era of water, and probably tea and coffee as well. It’s worth looking at again.

food processing
Michael Smedley

Exec VP & Chief Investment Officer, Morgan Meighan & Associates

Price: $21.650
Owned: No

2017-11-17

COMMENT
Bee Vectoring Technologies International (BEE-X)

If there ever was an extreme niche, this is it. They gather the pollen and special powders to deal with the fields and nasty pesticides. 90% of the world’s commercial greenhouses actually buy hives of bees.

Michael Smedley

Exec VP & Chief Investment Officer, Morgan Meighan & Associates

Price: $0.275
Owned: Yes

2017-11-17

BUY
Brookfield Infrastucture Partners (BIP.UN-T)

Which Brookfield subsidiary would you recommend for a 4-5 year hold? If you like dividends while waiting, this is one he would recommend.

INDUSTRIAL PRODUCTS
Michael Smedley

Exec VP & Chief Investment Officer, Morgan Meighan & Associates

Price: $56.270
Owned: Yes

2017-11-17

BUY
Berkshire Hathaway Inc. (B) (BRK.B-N)

Looking at the components, it has underperformed a little, but the chart shows a nice little trend from 2016. This would be a good risk/reward entry point.

insurance
Hap (Robert) Sneddon FCSI

Chief Portfolio Manager & Founder, Castlemoore Inc.

Price: $181.060
Owned: Unknown

2017-11-17

COMMENT
Canadian Utilities (CU-T)

Has held this for very long time. 3.8% dividend yield. Very low risk.

electrical/electronic
Michael Smedley

Exec VP & Chief Investment Officer, Morgan Meighan & Associates

Price: $37.940
Owned: Yes

2017-11-17

HOLD
Canadian Western Bank (CWB-T)

Although located in the West, the company is not dependent on oil and gas. They’ve been doing well. Have broken into eastern Canada a little. It is probably worth holding. 2.7% dividend yield.

banks
Michael Smedley

Exec VP & Chief Investment Officer, Morgan Meighan & Associates

Price: $35.310
Owned: Unknown

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