| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Market Outlook: Actually quite bullish. Reaction to what is going on in the economy is overdone. Historically it can be proven that the market does well whether we go into a recession or not. It can be rocky for the next couple of months but if you are an investor over the long run, you have to be optimistic. Sitting with about 7%-8.5% cash. | 2008-01-10 | |
| PAST TOP PICK | | Cathedral Energy Services Income Trust | CET.UN-T | 8.660 | (A Top Pick Dec 18/06. Down 17.4%.) Stock went down, but cash flow went up. Probably stronger now than when he recommended it. Into directional drilling and will be called upon more than for shallow wells. Pristine balance sheet. Safe distributions. Trades at 6X cash flow. 9% distributions. Still a buy. | 2008-01-10 | |
| PAST TOP PICK | | Skye Resources | SKR-T | 6.630 | (A Top Pick Dec 18/06. Down 43.1%.) Oil has gone up so cost of production has increased. Have to finance a project, which means $1 billion. The lower the stock price, the more shares they have to issue to finance it, and then the lower the stock price goes. Death spiral. Hold. | 2008-01-10 | |
| PAST TOP PICK | | Pfizer Inc | PFE-N | 24.080 | (A Top Pick Dec 18/06. Down 7.4%.) Got decimated when they lost a lawsuit on Lipitor. Sold his holdings. | 2008-01-10 | |
| TOP PICK | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Canadian Banks: - Given that 10-year yields are 3.9% and you can get 5% on a number of these banks, it's a steal of the century. They will continue to earn a significant amount of money. Balance sheets are in very good shape. Until the Commerce (CM-T) and Bank of Montreal (BMO-T) disclose their full exposure and the risk is, he doesn't think these stocks can go up. Over the short run, there could be some hurt. | 2008-01-10 | |
| TOP PICK | | Eldorado Gold | ELD-T | 6.880 | Gold with 70% of its production in Turkey. There has been an injunction on their mines and they are not allowed to produce. Thinks this will be alleviated very shortly. Low-cost operator. | 2008-01-10 | |
| TOP PICK | | Nexen Inc | NXY-T | 32.100 | Was one of the worst performers in 2007 among North American large cap producers. Now trading at 40% discount to NAV and the beauty is, about 30% of the assets are not producing cash flow right now. Going up 5.5X cash flow. | 2008-01-10 | |
| HOLD | | Kangaroo Media Inc. | KTV-T | 0.500 | This one did not work out. Its product was incredible but they where a slave to their largest customer. Stock price is the same as it has in cash, so it wouldn't sell it right now. | 2008-01-10 | |
| DON'T BUY | | Bankers Petroleum | BNK-T | 0.850 | Same management that used to have Rally Energy (RAL-T). There is a premium in the stock for the current management, but for him it is fairly priced. Would prefer it when it is out of favour. | 2008-01-10 | |
| BUY | | Martinrea | MRE-T | 10.170 | This is a value play. In a great acquisition when they got the US body and chassis operations from Budd. There is a ton of opportunity for growth in this company. Feels there will be a continuous outsourcing from the big 3. | 2008-01-10 | |
| DON'T BUY | | Teck Cominco Ltd. (B) | TCK.B-T | 34.820 | A conundrum because it is a great combination of gold and base metals. He would much rather have pure plays. He is bullish on gold but is concerned about base metals. | 2008-01-10 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Gold: - Bullish on this commodity. Demand will come from Asia as their economies continue to grow. Can easily see the price of gold going through $1000 by this time next year. | 2008-01-10 | |
| SELL | | Timminco Ltd. | TIM-T | 15.450 | As a contrarian, he tries to buy value and stocks that are creating a cash flow. This company is not doing that yet. If you have made a significant amount of money, this would be the time to take some off the table. | 2008-01-10 | |
| STRONG BUY | | Kaboose Inc. | KAB-T | 2.480 | A very successful online media company and he is very bullish on it. Earnings and revenue continue to grow. They continuously make very attractive acquisitions. Then it goes through a period where the stock drops off 20%-30% making it a very good buying opportunity. | 2008-01-10 | |
| HOLD | | WFI Industries | WFI-T | 24.440 | Geothermal play. Was very attractive when gas prices were $12-$13. The shine came off when gas prices dropped. Thinks gas will go significantly higher so geothermal is the way to go. Very attractive dividend. | 2008-01-10 | |
| BUY | | Power Financial Corp | PWF-T | 38.220 | Great company. There are companies that pay dividends that you want to hold forever. Likes the stock but likes Investors Group (IGM-T) better. Buy it, put it away and he guarantees that in 10 years you will have done well. | 2008-01-10 | |
| BUY | | IGM Financial Inc. | IGM-T | 46.500 | There are companies that pay dividends that you want to hold forever. Generates a ton of cash flow and is dirt-cheap. Buy it, put it away and he guarantees that in 10 years you will have done well. | 2008-01-10 | |
| BUY | | Norbord Inc. | NBD-T | 7.150 | 2nd largest and lowest cost oriented strand board producer in North America. The good thing is, because they are the lowest cost producer, it will be the last one to go bankrupt. Pays a nice dividend while you wait and is trading below its replacement value right now. | 2008-01-10 | |
| SELL | | Hudbay Minerals Inc. | HBM-T | 17.460 | Since zinc has dropped to about $1.15 it is far more attractive. Balance sheet is pristine. Company is sitting on $500 million in cash. However, if there is no growth it could be a value trap. Not sure what the catalyst is on this company. He is not sure. | 2008-01-10 | |
| DON'T BUY | | Trinidad Energy Services | TDG.UN-T | 9.350 | Just announced they are going to convert back from a trust to a corporation and they have cut their distributions. Well-run company and has grown significantly through acquisitions but the balance sheet is not that strong. | 2008-01-10 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Growth vs. Value: 2007 was the 3rd worst year for value investors, so it has been a tough year for them. Could be entering a period when growth outperforms value, but you can still make money in value. If you buy good companies that 1) pay nice dividends 2) have pristine balance sheets 3) cheap and 4) have strong management, you're going to do okay. | 2008-01-10 | |
| Comment | | AbitibiBowater Inc. | ABH-T | 17.840 | All newsprint players have been decimated, specifically those in Canada whose costs are in Cdn$’s. Has BV of about $25 with a terrible balance sheet. If a company can pay its banks when the commodities are low they have massive leverage when commodities improve. Newsprint inventory is down 25%, largest decline in 30 years. It could earn $8 a share and at $17, in 4 years you could be paying 2X earnings. Needs to do more work, but it fascinates him. | 2008-01-10 | |
| BUY | | EnCana Corp. | ECA-N | 67.930 | (Market Call Minute.) Have the lowest finding costs and unbelievable land-base. | 2008-01-10 | |
| BUY | | Goldcorp Inc | G-T | 38.150 | (Market Call Minute.) Would definitely own. Bullish on gold. | 2008-01-10 | |
| TOP PICK | | Cathedral Energy Services Income Trust | CET.UN-T | 10.440 | Got decimated on the back of oil service stocks and income trusts. Well run. Manufacture measurement well drilling products. Lower gas well drilling has dropped, but feels that deeper wells will still go ahead. Strong growth rate. Distributes only 50% of its cash flow. | 2006-12-18 | |
| TOP PICK | | Skye Resources | SKR-T | 11.250 | Has a nickel property in Guatemala. Nickel is currently $15. If you use $5 nickel, the net asset value is $15 compared to its present price of $11. For every $1 increase in nickel, net asset value goes up by about $1.50. Expect it to be a takeover. | 2006-12-18 | |
| TOP PICK | | Pfizer Inc | PFE-N | 25.830 | Pulled a replacement for Lipitor because of poor tests. Wasn’t going to contribute until 2010. Stock dropped. Near its all time low. Pristine balance sheet. Oversold. | 2006-12-18 | |
| PAST TOP PICK | | Hudbay Minerals Inc. | HBM-T | 22.150 | (Top Pick Sept 12/06. Up 59.5%.) Sold his last share last week, | 2006-12-18 | |
| PAST TOP PICK | | Home Depot | HD-N | 39.960 | (Top Pick Sept 12/06. Up 9.4%.) Housing market is going to level off in the US. Just increased its dividend an will be buying back some stock. Acquired 7 renovation stores in China. | 2006-12-18 | |
| PAST TOP PICK | | Rally Energy Corp | RAL-T | 3.270 | (Top Pick Sept 12/06. Up 9.1%.) Drilling in heavy oil, low risk steam flooding in Egypt as well as gas in Pakistan. Still would Buy. | 2006-12-18 | |
| DON'T BUY | | Falcon Oil & Gas | FO-X | 3.130 | A gas play in shale which will have to be heavily fracted. Doesn’t fit his mandate, being a non-producer. Strictly exploration. Too high risk. Have to find a lot of gas to justify what the market is paying for it. | 2006-12-18 | |
| DON'T BUY | | Maxim Power | MXG-T | 6.150 | Interesting in that demand for power in Alberta is exceptionally high. Have some concerns that the coal plant they run is quite old. Too pricey now. | 2006-12-18 | |
| DON'T BUY | | Goldcorp Inc | G-T | 31.740 | Exceptionally strong management. You have to be a strong believer that base metal prices are going to remain exceptionally strong. | 2006-12-18 | |
| Comment | | Rona Inc | RON-T | 20.450 | Loves the renovation sector. Owns Home Depot (HD-N) instead. | 2006-12-18 | |
| HOLD | | Encana Corp | ECA-T | 54.950 | Believes natural gas has got to go higher. Thinks they did the right thing in cutting back on their capital expenditures. Fantastically well run. | 2006-12-18 | |
| HOLD | | Talisman Energy | TLM-T | 19.450 | Very bullish on oil/gas. Well diversified with a nice suite of assets. Not as cheap as Petro Canada (PCA-T) or Encana (ECA-T). | 2006-12-18 | |
| SELL | | Shell Canada | SHC-T | 43.500 | All the juice is out of it after the parent bid it up. | 2006-12-18 | |
| DON'T BUY | | Compton Petroleum | CMT-T | 11.150 | Has shown significant production growth. Doesn’t have the strongest balance sheet. | 2006-12-18 | |
| BUY | | Rockyview Energy Inc. | RVE-T | 3.500 | Very gassy name. Very low multiple. Net asset value of $5 to $7. | 2006-12-18 | |
| Comment | | Teck Cominco Ltd. (B) | TCK.B-T | 90.020 | Sitting on a massive cash balance. Trading at 5 X earnings, but not sure how commodity prices can stay where they are. If this one saw $100 he would sell. | 2006-12-18 | |
| HOLD | | WFI Industries | WFI-T | 26.030 | Geothermal heat pumps. Have continued to increase and pay dividends. Not cheap any more. | 2006-12-18 | |
| BUY | | Kaboose Inc. | KAB-T | 2.500 | On-line media is hot. Has 12 million monthly viewers. Have made some incredible acquisitions. Growth rate is wonderful. Great take out candidate. Recently did an equity issue that didn’t have enough demand to supply 10 million shares. 3rd largest, family oriented independent on-line media company in North America. | 2006-12-18 | |
| Comment | | Antrim Energy | AEN-T | 4.400 | Very high risk. Doesn’t own in his fund, but owns some personally. Could be worth a lot or very little. Has low risk assets in Argentina and drilling is hugely successful. Also drilling in the North Sea. Has plans to spend hundreds of millions, but generating very little cash flow. | 2006-12-18 | |
| BUY | | Kangaroo Media Inc. | KTV-T | 2.420 | A great concept and the product is wonderful, but has been a loser. Acceptance has been massive. They were going to a full fledge retail launch with Sprint/Nextel for last year’s Nascar series, but Sprint/Nextel couldn’t get their act together so it’s been delayed one year. Still likes the long-term story. | 2006-12-18 | |
| Comment | | Nucor Corp. | NUE-N | 57.090 | Has done exceptionally well as have all steel stocks. Tied more to non-residential construction and feels that market is still going to be strong. | 2006-12-18 | |
| DON'T BUY | | Eldorado Gold | ELD-T | 5.840 | Have opened 2 new mines. Have done an exceptional job on their operation side. Production estimate for 2007/2008 is quite a bit less than what the street was looking for, which dropped the stock. On a price to net asset value, it’s not a cheap stock. | 2006-12-18 | |
| TOP PICK | | Hudbay Minerals Inc. | HBM-T | 13.920 | (A Top Pick June 14/06. Up 12.5%.) Trades around 4 X cash flow. Feels that Teck (TCK.B-T) and this company should get together. Good price. | 2006-09-12 | |
| PAST TOP PICK | | Kaboose Inc. | KAB-T | 1.360 | (A Top Pick June 14/06. Down 10.1%.) Online advertising. Did an outstanding acquisition. Will get taken out. Still likes. | 2006-09-12 | |
| TOP PICK | | Rally Energy Corp | RAL-T | 2.810 | (A Top Pick June 14/06. Up to 21%.) Heavy oil in Egypt and gas in Pakistan. Low risks and huge reserves. Dirt cheap. Net asset value is $3.50 and you get the Pakistan gas play for free. | 2006-09-12 | |
| TOP PICK | | Home Depot | HD-N | 36.660 | ROE every year is 22/25%. Strong free cash flow. No debt. They buy back a ton of stock. Trades at 10 X earnings. Based on renovations, not new home sales. | 2006-09-12 | |
| BUY | | Teck Cominco Ltd. (B) | TCK.B-T | 69.490 | A fantastically well-run company with a significantly strong balance sheet. A lot of money that used to flow into Falconbridge and Inco, will flow into this stock. | 2006-09-12 | |
| BUY | | Freeport McMoran Copper & Gold | FCX-N | 53.390 | Never gets the proper valuation in the market because its Grasberg properties are in Indonesia. Stable environment and they are one of the lowest cost miners in the world. Volatile. | 2006-09-12 | |
| BUY | | Kangaroo Media Inc. | KTV-T | 4.500 | Did exceptionally well and reached $8 but has dropped dramatically. Underlying business is exceptionally strong. Have had a few missteps, an option pricing issue which will prove to be nothing and had to restate sales figures. | 2006-09-12 | |
| DON'T BUY | | Falcon Oil & Gas | FO-X | 3.510 | He is short this stock in his hedge fund. Drilling high risk wells in Hungary. Market cap of $150 billion and fully diluted. Have drilled 3 wells and haven't tested any of them. | 2006-09-12 | |
| Comment | | Eurozinc Mining Corp | EZM-T | 2.800 | Recently sold his holdings in order to reduce exposure to the deep cyclicals and resources. Management has done an exceptional job. Likes the merger with Lundin Mining (LUN-T). Not sure that base metals can go much higher. | 2006-09-12 | |
| Comment | | Encana Corp | ECA-T | 52.610 | Comfortable with this company and its assets. Stock is cheap and they are fully hedged. Likes the long-term story of natural gas. Until gas prices go up, this stock will just wallow. | 2006-09-12 | |
| DON'T BUY | | Wendy's | WEN-N | 63.900 | Spinning off Tim Hortons (THI-T) and their stock will drop by the appropriate amount. It's burger business is grossly overpriced. | 2006-09-12 | |
| BUY | | Superior Plus Income Fund | SPF.UN-T | 12.250 | The leader in propane distribution. You are paying 6.5 X net adjusted cash flow whose business was depressed last year because of a mild winter. Will sell their aluminum business. Believes the distribution is safe. | 2006-09-12 | |
| DON'T BUY | | Kinross Gold | K-T | 14.320 | Liquidated his entire position. Had been grossly out of favour at around $8. Hugely levered to the gold price. Too many joint ventures. Their Brazilian property, which represents about half their net asset value, is not proven yet. Prefers Glamis (GLG-T). | 2006-09-12 | |
| BUY | | Goldcorp Inc | G-T | 27.040 | Loves this company, because they drill up Glamis (GLG-T) which he owns. The 2 companies will be merged. | 2006-09-12 | |
| DON'T BUY | | Ivernia West Inc | IVW-T | 1.000 | Had some production problems. The lead market remains strong but has not done nearly as well as zinc and copper. This is a 1-mine company. | 2006-09-12 | |
| DON'T BUY | | Lyondell Chemical Co. | LYO-N | 23.710 | The ethanol market basically crapped out. Basically a commodity play and are susceptible to the end user. Volatile. | 2006-09-12 | |
| BUY | | Talisman Energy | TLM-T | 17.960 | Company has done exceptionally well. Dropped recently with the oil price coming off. Exceptionally cheap. | 2006-09-12 | |
| BUY | | Glamis Gold | GLG-T-X | 34.490 | If he had to buy a gold stock, this would be the one. Had some production problems in Guatemala. Recent Western Silver deal they bought is going to be an absolute company maker. Expect the new drill report this summer will show that the reserves are double. | 2006-06-14 | |
| DON'T BUY | | Precision Drilling Corp. | PD.UN-T | 33.500 | A top quality company. Sold all its international assets. Would question where the growth would come from. Prefers Total Energy (TOT.UN-T) | 2006-06-14 | |
| BUY | | Total Energy Services Trust | TOT.UN-T | 15.250 | Gives you the diversification of compression and oil/gas rental. Could be a takeover. | 2006-06-14 | |
| BUY | | Encana Corp | ECA-T | 52.270 | Has unbelievable undeveloped land base and unconventional reserves that are not booked. Market cap is about $44 billion and he figures they’ve got about $15 billion in un-booked reserves. Good price. | 2006-06-14 | |
| BUY | | Talisman Energy | TLM-T | 17.360 | Well diversified. His only concern is the acquisition they made at the top of the gas price. Prefers Encana (ECA-T). | 2006-06-14 | |
| WEAK BUY | | Aur Resources | AUR-T | 14.190 | Cheap. The only concern he would have with this is its exposure to copper. Copper is not as tight as nickel which isn't as tight as zinc. In a base metal rally, this company will do very well. | 2006-06-14 | |
| BUY | | Pfizer Inc | PFE-N | 23.110 | Great dividend yield. Probably one of the worst performing sectors in the S&P. Lots of cost cutting opportunities. A number of drugs along the pipeline. Trading at around 8/9 X earnings. Pristine balance sheet. | 2006-06-14 | |
| BUY | | Merck & Company | MRK-N | 33.490 | Great dividend yield. Probably one of the worst performing sectors in the S&P. Lots of cost cutting opportunities. Trading at around 8/9 X earnings. Pristine balance sheet. | 2006-06-14 | |
| DON'T BUY | | LionOre Mining International | LIM-T | 5.000 | Has other nickel plays, such as Skye Resources (SKR-T), he would rather own then this one. | 2006-06-14 | |
| BUY | | Skye Resources | SKR-T | 6.650 | Has a property in Guatemala and are coming up with a feasibility in about one month. You can basically buy this company with a market cap of $100 million and inherit $250 million of 1970 $’s of Inco (N-T) assets. Great takeout candidate. | 2006-06-14 | |
| DON'T BUY | | Falcon Oil & Gas | FO-X | 2.990 | Had shorted this stock. Drilled 3 wells in Hungary, 2 of them very, very deep and has tested neither of them. No production, no cash flow and no revenue. | 2006-06-14 | |
| TOP PICK | | Hudbay Minerals Inc. | HBM-T | 10.730 | (A Top Pick Dec 20/05. Up 117%.) Still buying. Has net asset value support. Costs are exceptionally low. Almost debt free. Has rising production. Dirt cheap. | 2006-06-14 | |
| PAST TOP SHORT | | Tembec Inc. | TMB-T | 1.350 | (A Top Pick Dec 20/05. Down 5%.) Actually went down to $1 at one point. Feels the company will file for bankruptcy. Is still short. | 2006-06-14 | |
| PAST TOP PICK | | Arriscraft International Income Fund | AIN.UN-T | 4.200 | (A Top Pick Dec 20/05. Down 21.5%.) Had sold this at about $7 for a profit. | 2006-06-14 | |
| TOP PICK | | Rally Energy Corp | RAL-T | 2.300 | Oil/gas play in Egypt. Heavy oil play. Trades around 4 X cash flow. Should produce about 8000 BOE's a day by the end of 2007. Dirt cheap. Net asset value is about $3. Has 30% of a gas play in Pakistan, which, if successful, will add another $1 to the share price. Low risk. | 2006-06-14 | |
| TOP PICK | | Kaboose Inc. | KAB-T | 1.450 | A web site designed for wives and children. 3rd largest independent online media company behind Disney and Viacom. Cash flow has been growing. They have made a number of incredible acquisitions. | 2006-06-14 | |
| BUY | | Home Depot | HD-N | 36.750 | His best contrarian call right now. The stocks are probably discounting a recession. Effectively trading around 8 X earnings. Pristine balance sheet. About $6 billion free cash flow. They buy back their own stock. Pays a dividend. | 2006-06-14 | |
| BUY | | Gerdau Ameristeel Corp | GNA-T | 8.800 | 2nd largest mini-mill in North America. Trades at around 7 X earnings. Not tied to the consumer i.e. autos, washers, etc. which he likes. Geared towards infrastructure. Cash flow is strong and the balance sheet has improved significantly. | 2006-06-14 | |
| DON'T BUY | | Westjet Airlines | WJA-T | 10.890 | They are running the company beautifully. An enigma. Loads are up, runs are up and the oil price is killing them. | 2006-06-14 | |
| WEAK BUY | | Eurozinc Mining Corp | EZM-T | 2.240 | Gives you exposure to copper and zinc. This company will be a proxy for base metal prices. Doesn't think it has the earning power of others, so is not sure it would be his number one pick. | 2006-06-14 | |
| BUY | | Superior Plus Income Fund | SPF.UN-T | 10.990 | Looks very interesting. Had dropped from $30 to $10 and at $10.25 he bought for his hedge fund. Trades at about 6.5 X enterprise value EBITDA. Absolutely dirt-cheap and if they sell some of their non-propane assets the market will realise that the underlying asset is very strong. | 2006-06-14 | |
| BUY | | WFI Industries | WFI-T | 17.200 | Manufacture geothermal heat pumps. With energy costs high, this company is picking up a lot of market share. Nice dividend yield. | 2006-06-14 | |
| DON'T BUY | | Alimentation Couche-Tard (B) | ATD.B-T | 24.500 | Wonderfully well-run company. Continue to do tuck-under acquisitions on the service station side. Margins continue to improve. Can find lots better valuation in other places. | 2006-06-14 | |
| DON'T BUY | | Ivernia West Inc | IVW-T | 1.650 | Lead producer in Australia. Wonderful mine. Sold his holdings because he couldn't see the growth. The lead market is not as strong as some of the others. Impressed with management. | 2006-06-14 | |
| BUY | | Teck Cominco Ltd. (B) | TCK.B-T | 59.990 | An absolute gem of a company. Trades at 3 X cash flow. Probably the smartest management in the base metal business. | 2006-06-14 | |
| BUY | | Kangaroo Media Inc. | KTV-T | 6.450 | Makes a handheld video device that allows spectators to watch different camera views on sporting events. Have signed some good deals. Great prospects. Would buy on this pullback. | 2006-06-14 | |
| TOP PICK | | Hudbay Minerals Inc. | HBM-T | 5.000 | Has done exceptionally well but there is a lot more to go. An absolute cash flow machine. There is zinc and copper. Thinks the company can earn about $1.15/1.20 and the cash flow is about $1.40. Beautifully run. Management is extraordinarily conservative. Not widely covered by the street. They have production growth. | 2005-12-20 | |
| TOP SHORT | | Tembec Inc. | TMB-T | 1.320 | This company has run out of time. Their interest coverage is 20%. They can only pay 20% of the interest and that's before capital expenditures and also before principal payments. | 2005-12-20 | |
| BUY | | Petro-Can | PCA-T | 47.750 | A good place to enter if you have a long-term view. Well-run company. Probably the cheapest integrated in North America. Has been in a production declined, but feels this quarter will be the low point as they will be bringing on some significant projects in 2006. Pristine balance sheet. | 2005-12-20 | |
| TOP PICK | | Arriscraft International Income Fund | AIN.UN-T | 6.100 | Manufacturers of brick. The beauty of this is that they came out at $10, cut their distributions and the stock went to $3.50. They were in trouble and the banks pulled their lines. They were probably going to file for bankruptcy as they needed $16 million but then the family that sold the business to the trust, gives a subordinated debt to pay off the bank. Just replaced management. Dirt cheap. | 2005-12-20 | |
| DON'T BUY | | Total Energy Services Trust | TOT.UN-T | 17.410 | Has done very well but wouldn't recommend anyone stepping into it right now. | 2005-12-20 | |
| HOLD | | Western Lakota Energy Services | WLE-T | 17.500 | Likes this company very much. An interesting concept. They can drill on native lands were others can't get access. Stock is pricey based on the number of rigs they have. | 2005-12-20 | |
| DON'T BUY | | Quebecor World Inc. | IQW-T | 16.000 | Has been a perennial dog. The problem here is the printing business. This is a commodity business and you are competing on price only. Attractive dividend. | 2005-12-20 | |
| PAST TOP PICK | | Westjet Airlines | WJA-T | 12.030 | (A Top Pick Aug 29/05. Up 8%.) Had picked this as a contrary pick. Hurricane Katrina hit and jet fuel prices went through the roof. Great company, Great management, but fuel prices kill these guys. | 2005-12-20 | |
| BUY | | Kangaroo Media Inc. | KTV-T | 1.020 | Nobody covers this one and nobody has heard of it. Makes us small audio/video device and have signed a deal with NASCAR so you can watch the drivers from their cockpit. Top-notch management. Have a huge deal with Nextel. | 2005-12-20 | |
| DON'T BUY | | Inco | N-T | 49.630 | The synergies between this and Falconbridge (FL.LV-T) are very high. Can’t see anybody else topping their bid. Not a big fan of this deal. | 2005-12-20 | |
| BUY | | Gerdau Ameristeel Corp | GNA-T | 6.530 | Loves this stock. Good management. They should earn $1 US and at the present price, you can’t go wrong with it. The balance sheet keeps getting better and they are looking for acquisitions. Pulled back because steel prices peaked and rolled over. Expect there will be further dividend increases. | 2005-12-20 | |
