| TOP PICK | | Viterra Inc | VT-T | 14.130 | Grain retailing and agriculture retailing. The low beta, chicken way to have some agriculture exposure. Had blowout numbers on Wednesday. Have a huge cash amount to make acquisitions. | 2008-06-13 | |
| TOP PICK | | Open Text | OTC-T | 34.200 | Content management software. Reporting good numbers. Really good growth. Going to have a seasonally very strong quarter coming. Takeover target. | 2008-06-13 | |
| TOP PICK | | Rogers Communcations (B) | RCI.B-T | 41.090 | A complete cash flow machine. Stock is down on all the Spectrum noise. This company is the largest bidder. Competition is not going to be as big problem as people think. IPhone on July 11 is going to ramp their numbers. Have $1 billion of free cash flow. | 2008-06-13 | |
| HOLD | | Compton Petroleum | CMT-T | 12.750 | 90% gas. Possible takeover target. Would Buy on a pullback. | 2008-06-13 | |
| BUY | | Goldcorp Inc | G-T | 39.450 | Under $40 is a pretty good entry point. Seasonality for gold is coming in a couple of months and can see a trade for gold back towards $1,000 when he would be a seller (later in the fall). | 2008-06-13 | |
| BUY on WEAKNESS | | Agrium | AGU-T | 106.460 | Recent guidance was pretty stunning. At current prices they would earn $12 in the next 4 quarters. Means it is trading at 8.5X forward earnings. A Buy at $90. | 2008-06-13 | |
| BUY | | Tim Hortons | THI-T | 32.050 | Near a 52-week low. Able to pass through price increases. Good price level. | 2008-06-13 | |
| BUY | | Denison Mines Corp | DML-T | 7.580 | Uranium is a low cost alternative to higher oil prices. An excellent long term price point. | 2008-06-13 | |
| Comment | | BCE Inc. | BCE-T | 33.650 | Feels the downside is the low $30’s and it’s basically there and there’s still a chance you still end up in the high $30’s. | 2008-06-13 | |
| BUY on WEAKNESS | | Potash Corp of Saskatchewan | POT-T | 232.120 | Multiple wise it’s a little peaky. Probably goes to $250 or $260 but you are getting to a point where you need a pullback to take some of the risk out of buying. Look to $200 for a Buy. | 2008-06-13 | |
| BUY on WEAKNESS | | Encana Corp | ECA-T | 93.700 | Needs a pullback to look attractive but gas looks less vulnerable top a pullback than oil. Mid $80’s would be a purchase. | 2008-06-13 | |
| BUY on WEAKNESS | | Eldorado Gold | ELD-T | 8.220 | Has very much better than the rest of the group but has pulled back in the last week or so. Now starting to look attractive again. Look to Buy at $8.00. | 2008-06-13 | |
| Comment | | Potash North Resource | PON-X | 3.220 | Junior potash company. Not on stream for at least 7 or 8 years. Purely a play on the price of potash. Likes MagIndustries (MAA-X) as it will beat the other juniors to market by 3 years. | 2008-06-13 | |
| TOP PICK | | Agrium | AGU-T | 83.820 | Phosphate will be a little quiet in the summer. Highly attractive at about 10X earnings for the growth you are getting. | 2008-05-26 | |
| TOP PICK | | Rogers Communcations (B) | RCI.B-T | 44.090 | Huge free cash flow generator and they will return some of this to shareholders. Not concerned about the wireless Spectrum auction. | 2008-05-26 | |
| TOP PICK | | Research In Motion | RIM-T | 129.060 | Free cash flow generator. Huge growth. Blackberry Bold is being well received. Have had a couple of great quarters on the consumer side and thinks that stays for a while. You can buy this for a lower PE than its growth rate. | 2008-05-26 | |
| PAST TOP PICK | | Telus Corp | T-T | 48.430 | (A Top Pick May 9/07. Down 19%.) Sold his holdings last summer before the big drop. Was concerned that they would have to to upgrade to the GSM. | 2008-05-26 | |
| PAST TOP PICK | | Manulife Financial | MFC-T | 38.140 | (A Top Pick May 9/07. Up 1%.) Earnings growth is pretty good. Good solid Hold and would Buy. | 2008-05-26 | |
| PAST TOP PICK | | Tim Hortons | THI-T | 32.670 | (A Top Pick May 9/07. Down 5%.) Has been a good place to hide. Last quarter was a little weak in the US. | 2008-05-26 | |
| HOLD | | Eldorado Gold | ELD-T | 8.120 | Has been his favourite. Has done very nicely, specifically in the last and 2 or 3 weeks when the rest of the group has not performed nearly as well. Did all of its catch-up, so now you need higher gold prices. Gold seasonably runs from late August into September. If it reaches $9, take some profits. | 2008-05-26 | |
| BUY | | RioCan Real Estate Investment | REI.UN-T | 21.160 | Competition H&R Real Estate (HR.UN-T) did an issue at a discount and Riocan went down to match it. At under $21, good solid yield. With a 3% growth and a 6%/7% dividend you get a pretty stable 10% return. | 2008-05-26 | |
| Comment | | Daylight Energy Trust | DAY.UN-T | 11.120 | A growthy trust. His preference is Crescent Point Energy (CPG.UN-T). | 2008-05-26 | |
| Comment | | Jazz Air Income Fund | JAZ.UN-T | 7.200 | Air Canada pays their fuel costs and the market tends to forget this. Parent of all these guys is Ace Aviation (ACE.A-T), which is selling all their Aero Plan and Jazz so there is ongoing pressure. One more crunch to come, probably in the next 2 or 3 months and then the pressure will be off and there might be a recovery. Would sell on a rebound. | 2008-05-26 | |
| BUY on WEAKNESS | | Canadian Natural Rsrcs | CNQ-T | 100.750 | Feels a stock split is coming in the next couple of quarters. Ideally, he would like to buy it a little bit lower but even in the low $90's he would Buy. | 2008-05-26 | |
| BUY | | Avenir Diversified Income Trust | AVF.UN-T | 8.320 | Had 4 divisions of which 2 have been sold. What is left is a small oil/gas producer with a gas marketing division. Have a lot of cash. 12% return. They'll possibly pay a special dividend and cut the distribution but with the same yield. | 2008-05-26 | |
| HOLD | | BCE Inc. | BCE-T | 33.760 | Thinks the most likely thing that happens is that they win the appeal but it will take a while. With the delay you may end up with $38/$39 and some dividends. | 2008-05-26 | |
| SELL | | Loblaws | L-T | 33.250 | Expect it will take 5 to 7 years to turn it around. Wait to see more evidence of a turnaround in a quarterly number. Be willing to pay a little higher in order to see that happen. | 2008-05-26 | |
| BUY | | Nexen Inc | NXY-T | 38.930 | Q: If you bought this, would you pair it with a Bear ETF? A: No because this stock would hold up better than average. It is a little bit cheaper than average. He can make a case for a $45 NAV even with lower oil prices. Probably the 2nd Canadian candidate to split up. | 2008-05-26 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Banks: Canadian banks start reporting tomorrow and the numbers are going to be weakish. Likes them longer-term but if you want at a Canadian financial he would go to Manulife Financial (MFC-T) or the Toronto Dominion (TD-T), which he expects will be the only bank that shows up earnings. Too early to look at the US banks. | 2008-05-26 | |
| HOLD | | Progress Energy Trust | PGX.UN-T | 14.610 | A very gassy trust so with gas over $12 MCF, this company has had a nice recovery. Well managed and good properties but given the recovery upside will be less than it was. Suspect there could be a distribution increase later this year. | 2008-05-26 | |
| Comment | | Canadian Western Bank | CWB-T | 26.500 | Very well managed. Hugely exposed to the Alberta economy. Was trading at a huge unsustainable premium and has given most of this back. Good long-term hold. When it breaks above the 200-day moving average, which might be a good entry point. | 2008-05-26 | |
| BUY | | Trans Canada Corp | TRP-T | 39.250 | Had a nice recovery after they did an issue 2 or 3 weeks ago. Below $39 is not a bad entry point. | 2008-05-26 | |
| BUY on WEAKNESS | | Potash Corp of Saskatchewan | POT-T | 195.880 | Likes the agricultural sector for 2, 3 to 5 years. Would buy if it dipped into the $180's. Volatile so in a day you can get a $5 to $6 swing. You don't need to chase this. | 2008-05-26 | |
| DON'T BUY | | Royal Bank | RY-T | 50.150 | Reports this week and is looking at about 8% or 10% pullback below last year's 2nd quarter. This is the one that he worries little bit about because they've got pretty good US consumer exposure. | 2008-05-26 | |
| BUY | | Crescent Point Energy Trust | CPG.UN-T | 37.570 | Bakken Saskatchewan light oil play and are growing like a weed in this area. Thinks the distribution gets increased for sure in the next little while. Payout ratio is about 60%. Easy money has been made, but there is still 10% or so of growth. | 2008-05-26 | |
| BUY on WEAKNESS | | Canadian National R.R. | CNR-T | 54.690 | Not as bad as airlines but the rails do have fuel as an input. This has hurt them, but the stocks have rebounded nicely and a little higher than he would have thought. He would like to see a pullback of 10% before buying. | 2008-05-26 | |
| PARTIAL SELL | | Suncor Energy Inc | SU-T | 71.240 | Looks expensive, but it's the oil sands play and the one the US investors come to first. On a pullback, by half your position and hope you get the rest later. Assets are good. Long life reserves. Would only be comfortable in the high $50's. If you own, take a little off the top. | 2008-05-26 | |
| HOLD | | Bombardier Inc (B) | BBD.B-T | 7.400 | (Market Call Minute.) Came up a lot recently on some good announcements. Has gotten a little ahead of itself. | 2008-05-26 | |
| WEAK BUY | | Hanfeng Evergreen | HF-T | 11.710 | (Market Call Minute.) Recently pulled back some so you could probably buy it. | 2008-05-26 | |
| HOLD | | Fairfax Financial | FFH-T | 274.440 | (Market Call Minute.) Has been short the market so has done better than them all. If you are positive on the economy going forward, it would be a Hold. | 2008-05-26 | |
| BUY | | Thomson Reuters Corp | TRI-T | 36.340 | (Market Call Minute.) One of his favourite stocks. | 2008-05-26 | |
| HOLD | | Arc Energy Trust Units | AET.UN-T | 30.580 | (Market Call Minute.) One of a nice, but larger, slower growing trusts but you can get a nice yield on it. | 2008-05-26 | |
| TOP PICK | | CML Healthcare Income Fund | CLC.UN-T | 15.200 | Labs and imaging business. Made an acquisition in the US and reported a 1st-quarter including this. Numbers were good. Did an issue to pay for it afterwards and it has been weak ever since even though the numbers were good. Have the ability to pay the dividend when they are taxable in 2011. | 2008-05-09 | |
| BUY | | Avenir Diversified Income Trust | AVF.UN-T | 8.130 | Have announced a deal to sell their managed trust business and got a good price for it. Also selling their real estate. What will be left is a trust with a whole big pile of cash and a small oil/gas business. Expect they will pay a special dividend or collapse the company down. Pays 12%. | 2008-05-09 | |
| DON'T BUY | | Bank of Montreal | BMO-T | 49.000 | His least favourite bank. Doesn't like the direction they are going. Had some problems but had a decent rebound. | 2008-05-09 | |
| BUY | | Toronto Dominion | TD-T | 67.170 | Skated all the sub prime. Have a little bit of US exposure through Commerce Bank, which is retail exposure. Had a long enough ramp up before the closure so were able to get them to clean up any problems before they actually brought it in. | 2008-05-09 | |
| Comment | | Hudbay Minerals Inc. | HBM-T | 18.140 | As a zinc play you need economic activity. The chart does not look great and that just reflects the North American economy. | 2008-05-09 | |
| DON'T BUY | | Teck Cominco Ltd. (B) | TCK.B-T | 48.100 | Coal has been really hot in this one is about one third coal. You could buy it here if you are desperate to hold it, but the upside is only 8% to 10%. It may pull back as coal quiets down. Would prefer paying $45 or lower. | 2008-05-09 | |
| BUY | | Barrick Gold | ABX-T | 39.510 | To be a Buy you have to be reasonably confident about the gold price. Seasonally, gold usually moves May to September. If gold where to run again and take a shot at $1000, which he thinks it could reasonably do, this would be a good entry point. | 2008-05-09 | |
| DON'T BUY | | Loblaws | L-T | 32.650 | One of the reasons you may want to own it is because there is $30 a share in real estate value, but that is not the operating business and that would only come to light if they were in distress. It is actually valued quite expensively compared to other stores. Margins of all the grocers are going to get squeezed. | 2008-05-09 | |
| TOP PICK | | Anglo Potash Ltd | AGP-X | 6.070 | Junior potash play, adjacent to the big guys in Saskatchewan. Won’t be in production for about 5 years however it is in a joint venture with BHP Billiton (BHP-N). Potash is the one hot mineral that Billiton does not have and the easiest thing for them to do would be to buy the company and do it themselves. Also, if you value this company like you do potash you have an asset value of about $12. | 2008-05-09 | |
| TOP PICK | | Addax Petroeum Corp. | AXC-T | 50.000 | An oil play. A multibillion-dollar market cap oil stock, but because it is international it was lagging. Just reported and cash flow was annualizing at $12. Still has quite a ways to go. | 2008-05-09 | |
| HOLD | | Power Corp | POW-T | 33.450 | The underlying assets are Great West Life (GWO-T) and IGM Financial (IGM-T). In poorer markets, there is leverage on the mutual fund play. Great West reported the best numbers of the three Canadian life insurance companies but market concentrates on the Putnam group in the US. It will be fine. | 2008-05-09 | |
| BUY | | Manulife Financial | MFC-T | 37.370 | Trades at 11.5X earnings, which is a slight premium to both the banks and the other insurers. Has the best long-term growth. CEO announced he would be leaving next year. Longer term he is not worried at all. | 2008-05-09 | |
| Comment | | Iamgold Corp | IMG-T | 6.080 | Latest news release that they will be able to mine in Ecuador was positive. Sold their Peruvian position to Rio Alto, which was also positive. Has a project in Ecuador that is to come on stream in 2010. Current production is fairly high cost. If gold where to go back over $1000 this will probably do quite well. | 2008-05-09 | |
| BUY | | Thomson Reuters Corp | TRI-T | 37.300 | He bought this in 2 traunches at $33 and $35. It popped since then based on the closing of the merger and a good first quarter. | 2008-05-09 | |
| HOLD | | Encana Corp | ECA-T | 86.520 | Great company. He would like to add on weakness and you may get that chance in the summer being that it is gassy. | 2008-05-09 | |
| TOP PICK | | Thomson Reuters Corp | TRI-T | 37.200 | Reuters was an accretive acquisition that makes them one of the two pre-eminent news providers and financial services going forward with good earnings growth of 10% to 15%. Thinks there is some short covering in advance of the deal that is being completed next week. | 2008-04-11 | |
| TOP PICK | | Mosaic Company (The) | MOS-N | 121.610 | Large US fertilizer company. Phosphate prices have gone up 31% this month alone. Producers in India have very high costs and to keep producing they need high prices. That benefits this company. You can buy it at 10X earnings and potash is twice that. | 2008-04-11 | |
| TOP PICK | | BCE Inc. | BCE-T | 36.760 | He is betting that the Teachers Pension deal will close. If it doesn't close, it will probably go to $27/$30 and Telus (T-T) will be all over it and giving it 1 year delay you'll probably break even. | 2008-04-11 | |
| PAST TOP PICK | | Canadian National R.R. | CNR-T | 49.420 | (A Top Pick Apr 2/07. Down 2 and %.) Felt the market was approaching a downturn> This was a safer and lower multiple way of playing and still have some economic sensitivity. Sold earlier this year with the intention of buying this or Canadian Pacific (CP-T) back. If reported earnings coming out are poor, stock will drop and this would be when he would buy. | 2008-04-11 | |
| PAST TOP PICK | | Toronto Dominion | TD-T | 63.060 | (A Top Pick Apr 2/07. Down 5%.) Chose it because it had no US exposure and this is why he still likes it. Still a Hold. Dividend is good. | 2008-04-11 | |
| PAST TOP PICK | | Tim Hortons | THI-T | 34.710 | (A Top Pick Apr 2/07. No change.) Even though they raised prices, people will still buy there. A good place to hide. Multiple is lower than it was. | 2008-04-11 | |
| Comment | | General Electric | GE-N | 32.050 | Trading at 13X earnings is not overly expensive in the context of very low interest rates. This is cheaper than its own historical average. The market is not going to be willing to pay 15X or 16X until they are more comfortable. | 2008-04-11 | |
| BUY | | Iamgold Corp | IMG-T | 7.250 | Has hugely lagged the gold group. Operating costs of $4.27 is historically quite high but thinks it is a takeover candidate. This would be the first one of his golds that he would sell. | 2008-04-11 | |
| Comment | | Canadian Pacific Rail | CP-T | 65.640 | Canadian National (See comments under (CNR-T)) and CP are both going to have difficult 1st quarters. Weather wasn't great. If you have a longer-term view, you could hold it. If you want to try and be tricky, Sell before they report because the numbers will disappoint. | 2008-04-11 | |
| HOLD | | Eldorado Gold | ELD-T | 7.300 | Has done the best of many of the Canadian golds. Turkish government is allowing the Kisladag mine too likely be reopened. They are actually producing off the stockpile. It is playing catch-up, which is why it has done the best. Valuation is still 10% cheaper than the others and $8.50 probably makes it fully valued. | 2008-04-11 | |
| BUY | | Nexen Inc | NXY-T | 32.650 | Probably the most likely of the non-oil sands seniors to be taken over. Good production growth coming. Good mix of oil and gas. Good international plus a bit of oil sands as well. You get a bit of everything with a whole bunch of 10% or 15% production growth years on the horizon. That's better growth than a lot of the big seniors. | 2008-04-11 | |
| BUY | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Canadian Financials: - Chart does not look good but by far has done better than any of the other international and US banks. Tainted by the same brush but they are quite a bit better run. Economy is weaker. No M&A. Dividends and valuations will hold them up so you can own them now and collect the dividends while you wait. Expect they will start to go up later in the year. | 2008-04-11 | |
| Comment | | Brookfield Infrastructure LP | BIP-N | 18.060 | Has been looking at this one. Spin-off from Brookfield Asset Management (BAM-N). If you are going to hold it for 5 or 7 years this could be a good entry point for you. He is going to try to be more price sensitive so is hoping for $16. Thinks the asset value is about $21-$22. Has some forest products which may be a little bit too economically sensitive. | 2008-04-11 | |
| BUY on WEAKNESS | | Agrium | AGU-T | 73.190 | Likes all of the nitrogen, potash and phosphates. This one is mostly nitrogen. Cheaper multiple than potash. On weakness, a definite Buy. | 2008-04-11 | |
| BUY | | Shoppers Drug Mart Corp | SC-T | 50.150 | On a 6 month to one year this is an economic sensitivity pick. Would like to own this one and trade it once it goes up 15%. | 2008-04-11 | |
| WAIT | | Canadian Tire Corporation Ltd. (A) | CTC.A-T | 65.580 | Very cheap at 12X or 13X earnings but you need the economic sensitivity to pass for a little while. Could be a fall for Christmas or a 2009 play. | 2008-04-11 | |
| BUY | | Talisman Energy | TLM-T | 19.440 | International oil and gas. Big institutional day coming in mid-May so the market has been moving in advance of this. These are usually good things. Management will be explaining their 3 to 5 year plan. Will have a little bit better direction and a little bit better sense. Statistically cheap. | 2008-04-11 | |
| BUY | | Avenir Diversified Income Trust | AVF.UN-T | 8.000 | A diversified smaller trust. Part financial (owns Inervest Financial), part oil and part real estate. The real estate is about to close on a sale giving them about $30 million in net proceeds and will help pay the debt down. 13% - 14% yield with a payout of only about 60%. Feels it is really safe. | 2008-04-11 | |
| Comment | | Petro-Can | PCA-T | 47.500 | Statistically cheap but lags because lack of near-term growth, not for balance sheet reasons. | 2008-04-11 | |
| BUY on WEAKNESS | | Yamana Gold Inc. | YRI-T | 14.540 | If you like gold, this would be a Buy. Has a good set of assets. Central south America and mostly in decent regimes. Decent growth. | 2008-04-11 | |
| HOLD | | Russel Metals | RUS-T | 28.400 | Great dividend as well as a great balance sheet. Management is excellent and have said that they will live through the cycle. So much free cash flow and such a good balance sheet that even though there is economic sensitivity they will pay through the downturn. | 2008-04-11 | |
| Comment | | Grande Cache Coal Corp. | GCE-T | 5.160 | A junior Western Canadian metallurgical coal play. With $300 coal contracts and $80 costs, these guys are going to be free cash flow machines. | 2008-04-11 | |
| Comment | | Teck Cominco Ltd. (B) | TCK.B-T | 46.610 | A lot of their recent move is because of their coal. Getting closer to full valuation, which is in the low $50's so you have to be a little careful here. Trades at 1.5X NAV. | 2008-04-11 | |
| BUY | | Sherrit | S-T | 14.620 | Trading at a fairly large discount to NAV. There is a little bit of a discount for Cuba. Even if you exclude the Cuban assets, it is much cheaper than anything else. Below $15 looks quite interesting. | 2008-04-11 | |
| BUY | | Paladin Resources | PDN-T | 4.290 | A uranium producer and well run. Its Langer Heinrich mine in Namibia has had some teething problems so production in the quarter was lower than expected. Will make it up later in the year. Uranium as a solution to the energy problem has to be a long-term play. | 2008-04-11 | |
| DON'T BUY | | Pengrowth Energy Trust | PGF.UN-T | 19.700 | Like a lot of the senior trusts, he worries about the sustainability of the growth and therefore the distributions. If you take payout plus capital sustainability it is over 100%. You just can't do that. What is keeping them on side for now is higher energy prices. | 2008-04-11 | |
| HOLD | | Paramount Resources | POU-T | 16.880 | Medium sized gas producer. It has had its moments recently with the natural gas price recovery. Sold its oilsands assets over a year ago. Tremendous balance sheet. Had expected they would make an acquisition at the bottom, but disappointingly there has been no announcement. He is still going to hang in because on an asset value based it is cheap, but he is getting antsy for an announcement. Thinks gas prices will be higher in the fall so it is fine. | 2008-04-11 | |
| Comment | | Cameco Corporation | CCO-T | 37.510 | Their problem in Saskatchewan started the whole higher run in uranium. He feels uranium prices are at nice levels now and they go up higher. Looking to start a uranium mail in Alberta, which normally takes 4 to 5 years. Early days, so it is not built into anything yet. | 2008-04-11 | |
| DON'T BUY | | Loblaws | L-T | 31.030 | Too early. Has lots of real estate value but doesn't have enough earning power. There are still stock problems that don't seem to be getting fixed. Distribution side is still incredibly messed up. | 2008-04-11 | |
| Comment | | Harvest Energy Trust | HTE.UN-T | 23.830 | Because of the refinery side, the production side doesn't need to churn. Well run. Likes it better than the other income trusts, but still prefers to go elsewhere for his oil exposure. | 2008-04-11 | |
| BUY | | Canadian Natural Rsrcs | CNQ-T | 78.390 | Roughly 15%/20% higher in a year. The Horizons oil sands project has taken a long time, but that production is finally coming on stream. The recognition when it comes on and the bump in cash flow, this will do very well. | 2008-04-11 | |
| STRONG BUY | | BCE Inc. | BCE-T | 36.360 | Thinks CitiGroup (C-N) would think twice about letting the deal fall through, as they may not get invited into other opportunities in future. | 2008-02-28 | |
| HOLD | | Goldcorp Inc | G-T | 43.670 | Has a very nice-looking chart. Big and liquid and gold are the sweet spot right now for everything. However, nothing goes in a straight line. He likes to start gradually reducing his holdings. Expects it to go a little bit higher in the short term. With gold running over $1000, he could see this going to $45. | 2008-02-28 | |
| TOP PICK | | Paladin Resources | PDN-T | 5.670 | Because he likes uranium, he likes this stock and Denison Mines (DML-T) both. On a longer-term view, it is one of the clean energies. Uranium prices are at $75 even though the long-term price is $95. Around the world all the emerging producers are having various delays and problems. For a 2 or 3 year view he could see higher prices. | 2008-02-28 | |
| TOP PICK | | Yellow Pages Income Fund | YLO.UN-T | 11.200 | US Yellow Pages company came out with their 2007 results and guidance. Debt equity was 7X. Have lots of competition plus the US economy. Stock went down 39% and dragged this one down too. This one is basically a monopoly, between 2.8 and 3.2X EBITDA and strong management. With the online site growing 25%-30% they are a grower. It gives you a 10% yield. | 2008-02-28 | |
| TOP PICK | | Thomson Reuters Corp | TRI-T | 33.590 | All the approvals for the Reuters April acquisition look like they are in place. Stock is about 8X EBITDA but historically was 11. Because of Reuters, they will have exposure to financial business and services outlook in general. | 2008-02-28 | |
| BUY on WEAKNESS | | Potash Corp of Saskatchewan | POT-T | 158.780 | Thinks the agricultural play still continues. Had a pullback in January with the market and this could happen again. That would be the time to buy. | 2008-02-28 | |
| Comment | | Grande Cache Coal Corp. | GCE-T | 3.250 | Sold his holdings at just about this price. Coal is a bit of the Australian/Asian story with some shortages that are exasperating the whole market. Will not be $3.25 a year from now. Very risky. Possibility it could spike, but could also go back to $1.50. | 2008-02-28 | |
| Comment | | Talisman Energy | TLM-T | 17.500 | Statistically cheap, but needs some kind of catalyst to move it. Growth is just not quite there. Thinks it's going to continue to be a laggard for a while. If oil stays at $100, this stock should at least go to $20. | 2008-02-28 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Gold: - He thinks it goes through $1000. Looking for lower rates in the US and problems in the economy for the next few months, and therefore gold will have the momentum to go through $1000. There are a whole bunch of juniors that haven't moved and he could see some acquisitions. | 2008-02-28 | |
| Comment | | Eldorado Gold | ELD-T | 6.790 | Has moved up mostly because of the gold price, but it appears they are three quarters of the way to solving their problem in Turkey and he is expecting an announcement in the next few weeks that will solve the rest of it. | 2008-02-28 | |
| BUY | | Shoppers Drug Mart Corp | SC-T | 50.040 | Slightly disappointing over the last few months. Spiked to over $52 when they reported great numbers recently and doesn't know why it fell back. Great defensive place to hide. Lots of square footage in Canada and lots of things they can do. Expecting 15%-20% earnings growth at least for another 4 years. | 2008-02-28 | |
| BUY | | Silver Wheaton | SLW-T | 17.240 | The company was the most leverage to silver. Low costs. A lot of it was contract stuff that they did for Goldcorp (G-T). Now have more liquidity, which is very positive. | 2008-02-28 | |
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