STOCKCHASE

3.400

Extremely excited about the opportunity for the company. Has multi-billion-dollar potential. One product is for HDL, good cholesterol. Also have a food additive business. Not widely covered.

2008-04-22

STRONG BUY

WebTech Wireless Inc.

WEW-T

3.150

Have FedEx as a possible client. They are leaders in their technology.

2008-04-22

BUY on WEAKNESS

Canadian Natural Rsrcs

CNQ-T

87.360

Really likes this company. There could be a slight pullback on oil as we are in the shoulder season. Given his bullish long-term view, this is a great long-term hold. You can add to it on weakness.

2008-04-22

HOLD

Solana Resources Ltd.

SOR-X

3.700

The higher stock price recognizes some good results plus the rise in the commodity price. Colombia is one of the most attractive fiscal regimes in the world. Pretty stable government.

2008-04-22

STRONG BUY

Western Gold Fields

WGI-T

2.800

Stock has got hit in the last couple of months. At these levels it is a table pounding stock. One of the few pure North American gold plays with a producing mine. Great management. Very cheap.

2008-04-22

TOP PICK

Philip Morris International

8.500

Leading provider of fibreglass storage tanks in North America. Have a technology that allows them to be the low-cost producer. Have parlayed their low costs and pure quality into a dominant position in Canada. Entered US last year and are just getting going. Trading at under 10X earnings. 1.5% dividend.

2008-04-22

TOP PICK

Encana Corp

ECA-T

86.080

Natural gas is trading at a huge discount to oil on an oil equivalent basis. It could still pull back this summer but he sees natural gas having a big rally over the next several years. They have been prudently hedging some of their production.

2008-04-22

TOP PICK

PM-N

50.070

Cigarettes are a great free cash flow business. The international market is growing and this is the biggest international one. Litigation environment outside of the US is much better. It should be a multiple expansion when people see this as a growing franchise.

2008-04-22

Comment

A Comment -- General Comments From an Expert

A Commentary

0.020

Natural Gas: - You have to expect volatile pricing. Currently there is a much tighter supply/demand situation driving the prices up. Somewhat of a seasonal rally we are experiencing now. Wouldn't be surprised to see prices backing off next month. Given fundamentals, he is a little concerned and is quite cautious over the next 6 to 9 months. There will probably be good buying opportunities going into the fall.

2008-02-25

BUY

Husky Energy

HSE-T

41.520

Likes oil going forward. This is a very good quality company. More of a heavy oil weighted producer. Dividend is greater than 3%.

2008-02-25

BUY

aeromechanical Services

AMA-X

1.110

Manufacture lack boxes for airplanes. Helps airlines with fuel management, etc. Really exciting growth company. Early-stage development so they haven't had earnings as yet. Over the next 3 to 5 years, the ramp up in free cash flow will be tremendous.

2008-02-25

BUY

Solana Resources Ltd.

SOR-X

3.000

Colombia is one of the hottest areas to invest in oil/gas today. Very attractive fiscal regime. Expect to see more positive drill results going forward.

2008-02-25

DON'T BUY

First Calgary Petroleums

FCP-T

3.700

Natural gas discoveries in Algeria. He is not crazy about Algeria. He is also concerned about how long it is taking for these investments to come on. Recently had some good news so is moving on. A lot of risk here.

2008-02-25

BUY

Sherritt International Corp.

S-T

16.650

Has had a good rally in the last month or so based on the political changes going on in Cuba. Very cheap at under 10X earnings. 1% dividend yield. Very diversified. A little speculative, but you would be quite safe owning it here.

2008-02-25

BUY

Pacific Energy Resources Ltd.

PFE-T

1.450

Probably worth $9-$10 a share. Made a very big acquisition of Alaskan assets last spring, primarily debt financed. At the time oil was trading at about $65 a barrel but with the present price they could sell these assets for over $100 million more than they paid. Have a bridge coming due in 2009 but 1) have an extremely increasing cash flow 2) have assets they could sell off 3) and could have a debt refinancing once the market settles down again.

2008-02-25

BUY

3.350

Fairly volatile. Basing quite nicely in the low $3's. Most exciting part is the pharmaceutical potential with their krill oil, which increases good cholesterol.

2008-02-25

SELL

Anderson Energy Ltd.

AXL-T

3.560

Gas levered. Has had a nice rally. If you think gas is going higher, this stock will go a long with it. He is a little cautious on natural gas over the next 3 to 6 months.

2008-02-25

TOP PICK

9.370

#1 producer of fibreglass storage tanks. Have a technology advantage, which makes them a low-cost producer. Trading at under 10X earnings per year. Looking at the company over the next 3 years the story will get better and better. Will look quite cheap in 09. Should make $.50 in 08 and somewhere between $.60 and $.80 in 09.

2008-02-25

TOP PICK

20.090

Best Airline in North America and it's cheap.

2008-02-25

TOP PICK

Altria Group Inc

MO-N

74.260

World's largest tobacco company. Undergoing another transition and is being broken up in mid-March into Phillip Morris International and Phillip Morris USA. The sum of the pieces is worth a lot more than the combined entity.

2008-02-25

HOLD

Freehold Royalty Trust

FRU.UN-T

16.220

This trust is a royalty model, which makes it a little more stable than some of the other oil/gas businesses.

2008-02-25

Comment

Nintendo Company Ltd.

NTDOY.PK-OTC

0.000

(Not listed on exchanges.) Nintendo. Very interested in this name. The comeback story of the year. People thought it would be driven out of the gaming business but the Wii has been a tremendous successful platform. Hasn't done an evaluation of it but will be looking at it.

2008-02-25

TOP PICK

10.000

(A Top Pick May 7/07. Down 34.8 %.) Fibreglass underground storage tanks. Poorly understood stock. Did a $10 issue last January to help finance an acquisition of a US competitor. Also had a couple of earnings disappointments creating a small panic. Expect to see a huge ramp in earnings over the next 5 years. Long-term value stock. Strong Buy.

2008-02-04

TOP PICK

Sherritt International Corp.

18.310

(A Top Pick May 7/07. Up 12.5%.) Still a table-pounding Buy. Limited competition. This is an airline that makes money. Very cheap.

2008-02-04

PAST TOP PICK

Bank of America

BAC-N

44.030

(A Top Pick May 7/07. Down 16.5%.) A little disappointed on the Q4 results. Took a bigger hit than he anticipated. Still a long-term winner. More of a trading position for the next 6 months.

2008-02-04

TOP PICK

Altria Group Inc

MO-N

75.070

Very compelling catalyst coming up. Will be splitting up into Phillip Morris, which will be all there non-US tobacco operations and Altria will continue as their US tobacco operations. 4% yield.

2008-02-04

BUY

Oilexco Inc

OIL-X

13.280

(Market Call Minute.) Good North Sea production growth.

2008-02-04

BUY

Petrominerales Ltd.

PMG-T

17.720

(Market Call Minute.) Colombia is one of the most attractive regimes for oil/gas and they have lots of reserves there.

2008-02-04

Comment

CAE Inc

CAE-T

11.800

(Market Call Minute.) Neutral short-term, but on the long-term would be a Buy. Aerospace sector is in an upswing and one of the better places to be invested.

2008-02-04

STRONG BUY

WebTech Wireless Inc.

WEW-T

3.360

(Market Call Minute.) Table pounding Buy.

2008-02-04

BUY

S-T

13.890

(Market Call Minute.) Likes it. Cheap. Leverage to metals, oil and emergence of Cuba over the next several years.

2008-02-04

SELL

Precision Drilling

PD-T

18.650

Would avoid this stock. Their plan is to increase their international business, but is primarily leveraged to Canada. Will take a while before it turns.

2008-02-04

BUY

Arise Technologies Corporation

APV-T

1.900

A solar company. Very interesting technology. If they can execute on everything they are doing, it could be a good winner. Solar is a good space to be in.

2008-02-04

SPECULATIVE BUY

Timminco Ltd.

TIM-T

15.270

Have a method where they can convert industrial grade silicon for solar use. Upside potential is in the $40 range. Be cautious on any industrial ramp ups, as there could be hiccups. Stock is not cheap, but if they can execute, it looks cheap. Would only Buy a small position.

2008-02-04

STRONG BUY

A Comment -- General Comments From an Expert

3.710

Cholesterol treatment. Great opportunity to be buying right now. Good developments over the last 3 or 4 months and more to come over the next 2 years. Long-term holding.

2008-02-04

STRONG BUY

aeromechanical Services

AMA-X

0.960

Aeroplane black box with a monthly recurring revenue. Great long-term potential. Trying to expand into China.

2008-02-04

DON'T BUY

CGX Energy Inc.

OYL-X

3.650

Have offshore property in Guiana and the prospect is absolutely massive. Very exciting story, but this is one of those stocks that has an all right balance sheet but not even close to what it will cost to drill some exploration wells. Will have to strike a deal with a major. Looking pretty pricey. Consider taking some profit.

2008-02-04

Comment

A Commentary

0.020

Natural Gas: - Last week’s draw on gas was one of the largest there has been in a long, long time. The wrench in this is what will happen with Liquid Natural Gas and this is a bit of overhang. Doesn't expect to see anything too aggressive until at least next winter. Could be more weakness this summer.

2008-02-04

SELL

Trinidad Energy Services

TDG.UN-T

9.530

Expect it will still drop some more. Fortunately they are outside of Canada.

2008-02-04

BUY

Pacific Energy Resources Ltd.

PFE-T

1.730

Have a big piece of property in conjunction with Royal Dutch Shell in Wyoming. Very exciting long-term. Opportunity to make this a big commercial gas play. Exploration play so will take 1 to 2 years for the Wyoming play. Value is being added to other parts of the company.

2008-02-04

SPECULATIVE BUY

Pan Orient Energy

POE-X

12.710

Oil in Thailand as well as an oil sands play in Alberta. Thailand is very exciting. Higher risk.

2008-02-04

BUY

Trans Canada Corp

TRP-T

39.340

A good, solid blue-chip stock. Kind of an indirect frontier oil/gas play. If the McKenzie goes ahead, it will probably be the primary pipeline operator.

2008-02-04

Comment

Kirkland Lake Gold

KGI-T

9.670

Likes the Kirkland Lake mining camp and has some good plays. Also likes gold. It is puzzling that it has not performed better.

2008-02-04

Comment

Petrobank Energy and Resources

PBG-T

55.000

One of the more exciting fireflood results. Also have a 77% ownership in Petrominerales (PMG-T). Also one of the 2 prominent players in the Bakkens area in Saskatchewan. Good growth coming out of all 3 areas. Probably in a trading range in the next little while.

2008-02-04

Comment

BCE Inc.

BCE-T

35.740

The market is acting like the deal will not go through. Historically, the market is usually smarter about these things. If the deal does go through, it's a very compelling short term opportunity.

2008-02-04

STRONG BUY

VendTek Systems Inc.

VSI-X

0.900

E-commerce and prepaid cards. Very exciting small-cap company. Very undervalued. Operates globally.

2008-02-04

TOP PICK

9.630

(A Top Pick Nov 22/06. Up 1.6%.) Manufactures fibreglass storage tanks. With their technology have a dominant market share in Canada and have moved into the US. There is a lot of environmental legislation and a lot of leaking gasoline storage tanks. Had a bit of weakness in their upstream oil/gas supply business as well as a weaker US$. At these levels, it is a table-pounding Buy.

2007-12-13

TOP PICK

Neo Material Technoligies Inc.

22.200

(A Top Pick Nov 22/06. Up 42.7%.) Trading at 14X earnings. Fantastic fundamentals. There is a duopoly in the Canadian Airlines business.

2007-12-13

TOP PICK

Bank of America

BAC-N

43.050

(A Top Pick Nov 22/06. Down 22.9%.) Investors are very scared of the subprime, etc. problems and they have some components on their balance sheet. This won't take them down as this is a more conservatively run company. Trades at under 9X earnings. 6% dividend. Thinks it is close to a bottom here.

2007-12-13

Comment

NEM-T

4.800

A great business that is generating good growing cash flows. They have patents that he views that the business could fall right off the table in 2013/2014. Apparently have made some developments that give it a more sustainable story. Will be revisiting this stock.

2007-12-13

WEAK BUY

Petro-Canada

PCA-T

51.900

Very important to have energy weighting in your portfolio. Good refining downstream business as well as a decent upstream business. Wasn't too crazy about their acquisitions 5 years in Syria and Libya. Prefers Pacific Energy (PFE-T) (PFE.S-T) and Petrobank (PBG-T) where you will make a lot more money over the next 3 years.

2007-12-13

Comment

Petrominerales Ltd.

PMG-T

20.220

Prefers Petrobank Energy (PBG-T), which has 77% ownership in this company.

2007-12-13

BUY

Petrobank Energy and Resources

PBG-T

55.100

Has 77% ownership in Petrominerales (PMG-T) plus you get access to the fire flooding technology. This story has a lot longer to run and if it is as good as he thinks it is, it could be a real winner over the next year.

2007-12-13

BUY

Cameco Corporation

CCO-T

37.100

Thinks that some of the big cap uranium stocks such as Cameco (CCO-T), Uranium One (UUU-T) and Denison (DML-T) are Buys at this point. They are all looking pretty interesting and the valuations are looking quite attractive. It will be volatile, but good long-term plays.

2007-12-13

BUY

Uranium One Inc.

UUU-T

9.320

2007-12-13

BUY

Denison Mines Corp

DML-T

9.100

2007-12-13

BUY

Canadian Natural Rsrcs

CNQ-T

70.440

One of the few large-cap global companies where you can see a growth path that is spelled out over the next 5 years. You have very little concern that they are not going to be able to deliver. With the Alberta royalty review having come in, they are cutting back their expenditures in Alberta by a large amount. This pullback is a buying opportunity. Great oil sands exposure, exposure in the North Sea and offshore West Africa.

2007-12-13

BUY

Energold Drilling Corp.

EGD-X

4.260

Doesn't know the stock that well but based on what he does know, it's in a favourable place. Undervalued. If the mining cycle continues, you should see good performance out of this one.

2007-12-13

BUY

SXC Health Solutions Corp.

SXC-T

13.750

Pharmacy benefit management. Their solution is undercutting the big incumbents in the US. Really likes this story going forward. Likely bottoming and there should be good performance in 08.

2007-12-13

DON'T BUY

National Bank of Canada

NA-T

53.950

His philosophy is to buy the better quality players. He would suggest Toronto Dominion (TD-T) instead.

2007-12-13

BUY

Toronto Dominion

TD-T

72.810

This would be his Top Pick of the Canadian banks. While he thought the Commerce Bancorp acquisition was a little bit pricey, it is an excellent fit for them. This is probably the best consumer bank out there.

2007-12-13

HOLD

Potash Corp of Saskatchewan

POT-T

129.000

This is a great sector to be in right now, but the stocks have had great runs and do not look cheap at all. Would have a hard time stepping up to buy it here.

2007-12-13

SELL

Wi-Lan Inc.

WIN-T

2.540

Made a lot of money on this name. But it under $1 over a year ago and sold most of its over $5. It was a great story, but with recent legislation changes in the US with respect to patents, it would not be possible for them to make suits against other companies as easily. Has a great portfolio of patents and should be able to get some licensing from them but they no longer have the power.

2007-12-13

Comment

Teck Resources Ltd. (B)

TCK.B-T

36.320

Short-term, he is somewhat bearish on metal pricing because of the weakening global economy. 2.5% yield and trades at 8X consensus earnings. Also have exposure through coal (Partnered with Fording Coal (FDG.UN-T)) and the oil sands. If you are bullish on base metals, this is a great holding.

2007-12-13

Comment

Patheon

PTI-T

3.300

Made a big acquisition about 2 years ago, which basically almost blew the company up. There were a lot of money-losing contracts that they have been trying to clean up. Eventually it will probably turn around, but the question is will they get it done in 08 or 09.

2007-12-13

BUY

aeromechanical Services

AMA-X

0.650

Software provides data and key information in airplanes and once installed it is pretty hard to get them out. Kind of an incumbency position that is worth a lot. Recently announced that their Chinese business is going to start taking off now. Looking at where they are going over the next 5 years is really exciting. Will be a valuable as nice 5 years out.

2007-12-13

BUY

Deere & Co.

DE-N

88.850

(Market Call Minute.) Agricultural play. Has more room to run.

2007-12-13

WEAK BUY

Telus Corp

T-T

43.910

(Market Call Minute.) This would be a Hold to moderate Buy. Suffering a bit from the spectrum announcement and probably increasing capital expenditure for wireless extension.

2007-12-13

BUY

Khan Resources Inc.

KRI-T

1.310

(Market Call Minute.) A long-term Buy but there is political volatility here.

2007-12-13

WEAK BUY

Bombardier Inc (B)

BBD.B-T

6.030

(Market Call Minute.) Good space, but prefers Embraer (ERJ-N), which is a better company.

2007-12-13

BUY

Canadian Pacific Rail

CP-T

65.700

(Market Call Minute.) Long-term Buy but there may be some volatility in the short-term.

2007-12-13

BUY

Hammond Power Solutions Inc.

HPS.A-T

16.450

(Market Call Minute.) Long-term Buy. At play on alternative power.

2007-12-13

TOP PICK

11.900

(A Past Top Pick Nov of22/06. Up 26%.) An under appreciated Canadian success story. Manufactures fibreglass storage tanks with a patented technology allowing them to be a low-cost producer. Expanding internationally.

2007-11-05

TOP PICK

19.830

(A Past Top Pick Nov of22/06. Up 42%.) One of the cheapest mid to large-cap stocks in Canada with a proven business model. Trades at about 13X next year's earnings.

2007-11-05

TOP PICK

Bank of America

BAC-N

44.450

(A Past Top Pick Nov of22/06. Down 70%.) This is a great buying opportunity in the US financials. When things bottom out, he will be adding to his position. Expects to be buying in the next couple of weeks. Trades at 9X earnings. 5.7% dividend yield.

2007-11-05

WEAK BUY

Hudbay Minerals Inc.

HBM-T

25.230

Discovered a large amount of zinc in Manitoba. Relatively cheap. He is more cautious on the mining side. Feels that eventually a correction will come. If you are going to play this sector, this would be a good one.

2007-11-05

HOLD

3M Co.

MMM-N

85.050

Very solid company. Well-managed. Can't comment on the valuation level, as he hasn't evaluated the company for a number of months. Expect they are having good upside on their earnings with their global holdings.

2007-11-05

BUY

Toronto Dominion

TD-T

69.520

His favourite Canadian bank. Looking at their long-term strategy, they know where they're going in the next 5 years and execute on that.

2007-11-05

Comment

CitiGroup

C-N

35.900

US banks are very undervalued. This one has some serious issues on their balance sheet. A whole group has sold off in a big, big way. Feels the market has overreacted to the whole situation. He prefers buying when the stock starts to come back a little bit. (See Top Picks.)

2007-11-05

BUY on WEAKNESS

Canadian Pacific Rail

CP-T

63.820

Right now earnings estimates on the rails are falling. Countervailing that, Warren Buffet continues to buy more and more of his rail stocks. Good long-term buy but you may get a chance to buy it a little bit cheaper.

2007-11-05

Comment

Kodiak Oil & Gas

KOG-A

2.160

Early-stage oil/gas exploration. He has a very small position in this. Have 2 really, really exciting plays. One is a deep gas play in the Rockies, which at some point it's going to be worth a lot. The other is in the Dakotas with Bakken shale and has assembled a great acreage position. This could be a whole new leg of growth for the company. Speculative.

2007-11-05

Comment

Opel International

OPL-X

2.200

Really interesting company in the solar space. Have a concentrator system that concentrates sun rays onto a small chip. Could be some interesting breakthrough technology. Had a pretty good run and he has taken a little bit of profit. Speculative.

2007-11-05

BUY

Pan Orient Energy

POE-X

10.870

Exciting, cheap oil drilling results in Thailand. Also have an interesting heavy oil play in Alberta.

2007-11-05

BUY

Allen-Vanguard Corp.

VRS-T

10.460

Most interesting defence oriented company in Canada. Have some great contracts. Can see it going higher from here.

2007-11-05

BUY

Pacific Energy Resources Ltd.

4.120

Sell krill oil for increasing HDL. Can’t understand the recent poor market performance as last month they announced a new Scientific Advisory board headed by Steven Nissen, chairman of the Cleveland Dept. of Cardiovascular Medicine plus 4 other renowned scientists.

2007-11-05

BUY

Western Gold Fields

WGI-T

3.690

Gold is one of the better sectors to be invested in the next few years. This is his Top pick in the gold sector. One of the cheapest plays out there. Have a great asset that is just coming into production this quarter. Great management.

2007-11-05

Comment

Petrominerales Ltd.

PMG-T

19.510

Owns Petrobank (PBG-T), which has 77% of this company. Likes it going forward. Hasn’t looked at it for a few months and there has been a fair amount of value added to it, so not sure if it is fully priced or not.

2007-11-05

BUY

Winalta Inc.

WTA.A-X

2.350

Prefabrication and real estate development in Alberta. Likes the outlook. Relatively illiquid. Undervalued.

2007-11-05

Comment

Peerless Energy Inc.

PRY.A-T

5.460

Well run company. Into a good play in the right area. Can’t comment on the valuation, as he hasn’t looked at it recently. Probably a take out in the longer term.

2007-11-05

SELL

Falcon Oil & Gas

FO-X

0.590

Very interesting play, but it’s broken right now. The issue is they have spent a lot of money drilling in Hungary. Potentially a huge amount of gas. All results so far are uneconomical, so would be hesitant to put his money on it.

2007-11-05

DON'T BUY

US Geothermal Inc.

GTH-T

4.130

Geothermal is an alternative form of energy that is really attractive. Has been around for quite awhile. The issue is finding the resource. This is probably one of the more credible companies. Good management and has executed. With the recent run up, would be a little cautious.

2007-11-05

Comment

Russel Metals

RUS-T

28.150

Had a pretty good run and there may be some profit taking now. Steel is pretty cyclical and has had a good run over the last 5 years.

2007-11-05

STRONG BUY

PFE-T

2.600

Long-term case for this stock is really good. Three plays going on. 1) California/offshore California, 2) Wyoming deep gas and 3) Alaska. The California offshore alone is worth the entire company today. Wyoming is potentially worth a huge amount but a very risky exploration. Alaska, a neglected asset that has a lot of upside. Recent financing was done at $2.20 a share.

2007-11-05

Comment

Washington Mutual Inc

WAHQE-Q2

23.180

Caught up in the mortgage mess in the US. Thinks it’s all right but hasn’t spent the time looking at it. You’ll have to do your work on this to see how affected their mortgage business is.

2007-11-05

BUY

Canadian Natural Rsrcs

CNQ-T

75.920

Really likes this one.

2007-11-05

Comment

Breakwater Resources

BWR-T

2.330

Good if you like base metal prices going forward. Otherwise wouldn’t Buy.

2007-11-05

BUY

Kirkland Lake Gold

KGI-T

13.360

Like gold.

2007-11-05

TOP PICK

10.200

(A Top Pick Nov 22/06. Up 5.2%.) A table pounder. Really undervalued when you look at the long-term earnings and cash flow that are going to come out of it. Low-cost producer with a patented technology. Hugely undervalued.

2007-09-04

TOP PICK