STOCKCHASE

246.940

One of the few companies that is actually working in this environment. Great company and hard to question anything they do. Haven't had a product stumble over the last few years but there is some question with the iPhone 4 launch. Perfect balance sheet with $40 billion in cash. Trading at 20X next year's earnings.

2010-07-05

PAST TOP PICK

Canadian Natural Rsrcs

CNQ-T

34.010

(A Top Pick July 22/09. Up 16.21%.)

2010-07-05

TOP PICK

Dollarma Inc.

DOL-T

24.200

Dollarama Canadian stores. Non-resource growth company. Not a lot of competition. Their core is in Ontario and Quebec and are working on growing out West.

2010-07-05

BUY

Encana Corp

ECA-T

32.000

Gulf problems have highlighted how natural gas is probably the commodity that will win. Longer term it should start gaining share. Very conservative, safe way to play natural gas. Have done very well in managing their capital budget by hedging a lot of natural gas production at more than $6.

2010-07-05

TOP PICK

Intel

INTC-Q

19.200

Good, safe play on the global tech story. Trading at under 10X earnings and has a 3.5% dividend yield. A lot of the CapX has been done so margins should expand over the next few years. Good play on global technology growth.

2010-07-05

Comment

Manulife Financial

MFC-T

15.260

Put up some decent numbers but the multiple keeps compressing. Viewed as a levered play on equity markets and there are concerns about more equity issues to keep ratios in line. For safety go to Royal Bank (RY-T) but for a leverage play on the market you can go to this one.

2010-07-05

Comment

90.850

Potash and some of the agriculture commodities have come off on the theme of the China slowdown. Expected to be under pressure for the next few years. An interesting way to play this is to watch corn prices, which has been under pressure in the last few months.

2010-07-05

TOP PICK

51.690

Last few quarters have been OK but have been late getting some products out and the street has lost all confidence in management. Trading under 8X earnings. If they execute and get some of their new products out in the 2nd half of the year, get confidence back on their operating system, and it should get back closer to the market multiple.

2010-07-05

BUY

Royal Bank

RY-T

51.150

Missed its quarter saw analysts took their targets lower so the bank lost its premium royalty. Fairly good value here. 4% dividend yield. May be a soft quarter coming up.

2010-07-05

PAST TOP PICK

Viterra Inc

VT-T

7.010

(A Top Pick July 22/09. Down 22%.)

2010-07-05

Comment

Teck Resources Ltd. (B)

TCK.B-T

30.270

Has sold off a lot so is cheaper right now. A leverage to play towards coal and gold. 1.3% dividend.

2010-07-05

BUY

Wal-Mart Stores Inc.

WMT-N

48.000

A play on a lower demographic area and should benefit in slower times.

2010-07-05

Comment

BHP Billiton Ltd.

BHP-N

62.710

Good play on global recovery with its iron ore, base metals, oil, etc. Has been under a lot of pressure lately with slowdown in China, global economy and Australian mining tax. Australia is talking about lowering the tax from 40% to 30% next year and the opposition parties are against it. Thinks this tax is priced into the stock. 2.68% dividend.

2010-07-05

PAST TOP PICK

Silver Wheaton

SLW-T

19.500

(A Top Pick July 22/09. Up 103.4%.) Locked in his gains.

2010-07-05

Comment

Visa Inc.

V-N

73.180

Been under pressure recently because of possible Congress regulations on interest charges, which could affect growth. Put up some good quarters, so probably a fairly good, long-term Buy but you get exposure to the US financial sector and US consumer.

2010-07-05

DON'T BUY

Agrium

AGU-T

64.770

He is positive on the fertilizer area and feels potash negotiations will go better than feared. Good growth area over the next few years. Caught in the hostile takeover battle with CF Industries. He prefers Potash (POT-T).

2010-02-09

BUY

Bank of America

BAC-N

14.470

North American financials do need to start showing some leadership. Probably a sector that would turn as fast or faster than any other area. Has been a tremendous selloff in the last few weeks, which has been too far and too fast. If you believe the US economy will rebound and go stable, US financials are good area.

2010-02-09

BUY

BCE Inc.

BCE-T

28.560

Has always been the “steady Eddie” type company. Upgraded wireless system last year and that should add more of a spin to their mobile area. Good dividend yield.

2010-02-09

TOP PICK

EMC Corp

EMC-N

16.950

Still prefers IT as one of the good areas if you want to be in the market. This sector has the best balance sheets and growth potential in the US. Sitting on a lot of cash and no debt. Companies are going to buy more servers and storage. Also own 83% of VMware (VMW-N), the Microsoft of cloud computing.

2010-02-09

BUY

Intel

INTC-Q

19.650

Very opportunistic buy right now. First company to announce fairly strong earnings guidance was good and then the stock sold off when the market was caught up in the European fears. Semi stocks seem to be ready to bottom in the index looks like it's ready to turn. Trading at only 11X earnings.

2010-02-09

TOP PICK

Niko Resources

NKO-T

98.950

Very good explorer. Has a partnership with Reliance Energy in India on the D-6 block, a massive field. Should start to generate about $7 in earnings next year in free cash flow.

2010-02-09

DON'T BUY

Nexen Inc

NXY-T

23.280

Not a favourite in the energy space. Just put out an upgrade on their Long Lake oil sands project and continue to have problems with it.

2010-02-09

PAST TOP PICK

Onex Corp

OCX-T

24.730

(A Top Pick Mar 19/09. Up 68.78%.) Easy money has been made and is now just a Hold.

2010-02-09

TOP PICK

70.640

(A Top Pick Mar 19/09. Up 35.82%. Came under a lot of pressure with the hype of Apple (AAPL-Q) & Google (GOOG-Q) competition. This has created a tremendous buying opportunity. Should still do $5US earnings per share for 2010. There are rumblings that at the Barcelona conference they will be coming out with new devices or improvements.

2010-02-09

WATCH

Shaw Communication (B)

SJR.B-T

19.970

Has confused the analysts’ community. Very good company with a stable base in Alberta, whose economy has been doing incredibly well. Traditionally bumped its dividends and returned free cash flow it generated. This made it trade at a higher multiple than some of its peers in the cable space. Concerns if they can keep doing this. Also concerns on costs if they get into the mobile phone market and if the Alberta economy can continue being strong.

2010-02-09

PAST TOP PICK

Talisman Energy

TLM-T

18.000

(A Top Pick Mar 19/09. Up 30.08%.)

2010-02-09

BUY

BHP Billiton Ltd.

BHP-N

71.160

Good long-term holding across all cycles. Leader in materials and energy. With Athabascan Potash acquisition focused on being the leader in fertilizers. Potash mines take an incredible amount of time. Copper, metals and oil have sold off a great deal so this is not a bad time for this.

2010-02-09

Comment

0.020

Gold. Definitely an area that you want as part of your portfolio. Doesn't expect as good a year as last year. $1100-$1200 is probably a good top of the band for gold. Has about 10% weighting in gold. Prefers companies to ETF’s. Biggest position is GoldCorp (G-T), which is in the process of starting up a big mine in Mexico, so be cautious.

2010-02-09

Comment

0.020

US$ over the next few months? Cdn$ should outperform again. He would prefer it not to go through par as that damages our manufacturing sector.

2010-02-09

DON'T BUY

Cenovus Energy

CVE-T

25.370

Not a favourite in the energy space. This one is a spin out from Encana (ECA-T) and is more the SAG-D assets. It came out at a higher valuation than some of its peers.

2010-02-09

DON'T BUY

156.740

IPhone has been an incredible success and ahead of analysts expectations. It has become an expensive stock and is a little ahead of itself in valuations. Prefers Research in Motion (RIM-T).

2009-07-22

DON'T BUY

Bombardier Inc (B)

BBD.B-T

3.620

Fairly valued right now. Needs to keep replacing contracts to fill its backlog. Airline business has really been hit and they are exposed to regional and corporate jets. Rail area has done well but is the lower margin part.

2009-07-22

TOP PICK

Canadian Natural Rsrcs

CNQ-T

60.570

Earnings come out in early August but would Buy some today and some afterwards. Did a good job at hedging some of their oil at higher prices. Their big growth vehicle is the Horizons project that is probably becoming one of the gold standards in the oil sands.

2009-07-22

BUY

Encana Corp

ECA-T

57.650

Reporting very soon and it should be a good quarter. Have been selling assets at attractive valuations and hedging their natural gas contracts.

2009-07-22

PAST TOP PICK

41.000

(A Top Pick July 22/08. Down 4.84%.) Have projects they are ramping up. Doing all the right things. Good management team. If you won't Hold, otherwise Buy on dips.

2009-07-22

WATCH

Ivanhoe Mines

IVN-T

8.560

Huge project in Mongolia. In the process of negotiating a new investment agreement with the government and seemed to have been doing this for the last year. This is a bet on whether a deal gets made that is favourable.

2009-07-22

BUY

Kinross Gold

K-T

21.920

Have some good growth projects. They will benefit from the expected increase in gold prices. Has a big growth project in Russia, which is a fantastic asset and is doing quite well. Also have assets in Ecuador, which has been tied up in regulations on mining and trying to get permits. Permits should be in place in the next few weeks.

2009-07-22

BUY

97.500

Short-term there will be anything positive. Have been some pricing cuts in the last few weeks with India and China. 2010 earnings look like they should snap back as global demand starts to increase.

2009-07-22

Comment

Rogers Communcations (B)

RCI.B-T

30.680

This is a good core company for a portfolio. Transitioned from growth to becoming more stable. His big concern would be the margins they get on wireless are going to start to drop. 3.72% yield. Prefers Telus (T-T).

2009-07-22

PAST TOP PICK

80.590

(A Top Pick July 22/08. Down 29.27%.) Still likes the smart phone trend.

2009-07-22

Comment

Suncor Energy Inc

SU-T

36.000

Merging with Petrocan (PCA-T) in the beginning of August. Because of dealing with synergies, etc. they'll probably do OK in the next year but not sure it will be leadership in the oils.

2009-07-22

TOP PICK

Viterra Inc

VT-T

9.090

Growing internationally. In the process of acquiring an Australian company and will make them the largest grain handler globally. Vote will be made in September and the deal will close after that.

2009-07-22

Comment

Transalta Corp

TA-T

20.800

Made a hostile bid for the wind farm operator, Canadian Hydro Developers (KHD-T). Probably a good strategic fit for them but the stock will be under pressure. Expect a big debt issue or a fairly dilutive equity issue to pay for it.

2009-07-22

WATCH

Thomson Reuters Corp

TRI-T

34.770

Good stable company. Global leader. Involves selling high-end data devices into law firms, Wall Street firms, etc. which is why the stock has not done a lot in the last year. European listing is being closed so a lot of Europeans will sell in the next month or two, which will be a buying opportunity.

2009-07-22

BUY

Trans Canada Corp

TRP-T

30.600

Likes the good stable growth and dividend yield. Acts as a counterweight in the portfolio to cyclical investments. Recently made an acquisition that will supply some growth for them. Also did an equity issue which could put a cap on the stock for the near term.

2009-07-22

Comment

Telus Corp

T-T

30.630

Have to do more CapX to upgrade their systems from CDMA to GSM, which will put a strain on the balance sheet. 6.2% yield should be sustainable.

2009-07-22

PAST TOP PICK

Westjet Airlines

WJA-T

10.000

(A Top Pick July 22/08. Down 31.32%.) Had looked at this as an anti-oil trade. Expected $140 oil to pull back, which would improve margins.

2009-07-22

Comment

Red Back Mining Inc

RBI-T (Dead)

10.060

Have some very good growth projects in Africa. In the middle of a bidding war on a very big gold deposit in the Congo. It's a project that is incredibly cheap on a valuation basis because of location.

2009-07-22

Comment

0.020

Canadian Banks: Have been one of the best global financial sectors. Everyone is on to that story now. Hard to see them being the leadership going forward. With positive economic changes, investors could be switching out of banks and into the more cyclical sectors.

2009-07-22

BUY

0.020

Gold: Over the next year you will see gold break through $1000 and could go a few hundred higher than that.

2009-07-22

TOP PICK

Silver Wheaton

SLW-T

9.790

Silver trades at a bit of a ratio to gold. That ratio has blown out to proportions that you want to look at Silver over gold right now. Also expects an economic recovery in the next 6 months and industrial demand for silver will get it going higher.

2009-07-22

HOLD

129.060

(Market Call Minute.) Incredibly strong company.

2009-05-07

TOP PICK

Barrick Gold

ABX-T

38.550

Gold is going to be under a bit of pressure in the next month or 2 but should start to recover later in the year. This company is the global leader in gold and have a lot of great projects but has lacked growth. Has some growth projects coming on in the next few years. Just announced a huge project in Chile/Argentina.

2009-05-07

Comment

Agrium

AGU-T

52.460

Positive on agriculture. Prefers Potash (POT-T).

2009-05-07

WATCH

Bank of America

BAC-N

13.510

There has been a big recovery in the US bank stocks. There are still some risks. There are rumours that they have failed the Stress Test. They also have to raise some capital to survive the environment.

2009-05-07

BUY

Bank of Nova Scotia

BNS-T

36.120

Becoming a little more favourable to this bank. Has pulled back on concerns of the Mexican market and their emerging market strategy. This has been overly discounted in the share price.

2009-05-07

WATCH

CitiGroup

C-N

3.810

2009-05-07

DON'T BUY

Canadian Western Bank

CWB-T

14.200

Retail bank, so no capital exposure like other banks. Perceived as a growth bank a year or so ago but with the sell-off in oil prices and the slowdown in the Alta and BC economies it is now trading more in line with other Cdn banks. This is buying a recovery in the Alberta housing market and it’s a little too early.

2009-05-07

BUY

Encana Corp

ECA-T

61.320

(Market Call Minute.) Market is going to go higher on natural gas and oil in general.

2009-05-07

PAST TOP PICK

36.340

(A Top Pick May 8/08. Down 1.43%.) Not as positive on this as last year. Incredibly well run. Cautious because of the start up of the new Mexican mine. Any glitches could cause the stock to lag. Treat as a Hold.

2009-05-07

DON'T BUY

Kinross Gold

K-T

19.050

Gold could come under pressure over the next month or six if the S&P and global markets start to recover.

2009-05-07

DON'T BUY

Eli Lilly & Co.

LLY-N

35.850

Pharma is a sector that usually outperforms in times of crisis and in bear markets. They have generally been a good hiding spot. The group will probably lag any uptick in the market. 5.5% dividend.

2009-05-07

HOLD

Manulife Financial

MFC-T

22.180

Had a big blip down in Feb/March and it is really going back to be coming more of a steady state industry. Stock was whipsawed because they came close to violating some ratios on some of their products. Ratios are getting back in line.

2009-05-07

SELL

Onex Corp

OCX-T

22.500

(Market Call Minute.) Had a big bounce to its NAV and he would hold to look to Sell.

2009-05-07

Comment

Petro-Canada

PCA-T

42.920

Positive on the merger with Suncor (SU-T). There will be some growing pains. Integration risks will probably take longer than expected. Suncor is a very good operating company with a somewhat weak balance sheet and Petrocan has some good assets and a good balance sheet.

2009-05-07

BUY

109.770

Positive on agriculture. They control the pricing on potash.

2009-05-07

TOP PICK

Baffinland Iron Mines Corp.

85.870

(A Top Pick May 8/08. Down 32.24%.) Doubled in the last 6 months because they have solved a lot of their problems on the consumer product side. Over $3 billion in cash and a lot of growth.

2009-05-07

BUY

Viterra Inc

VT-T

8.920

Potential acquisition of an Australian grain company could be a fairly good deal. It would allow access to the Asian grain markets. Issuing Subscription receipts for $8 and if you currently hold, it’s an almost can’t lose situation.

2009-05-07

TOP PICK

Talisman Energy

TLM-T

16.100

Bullish on oil long term. This company has been going through a restructuring over the last year and new management has done a good job of cleaning up. Trading at a big discount to its peers.

2009-05-07

PAST TOP PICK

Thomson Reuters Corp

TRI-T

35.080

(A Top Pick May 8/08. Down 0.71%.) Have come through the environment and are meeting all their targets on cost cutting and synergies. Concerned on losses because of the financial sector.

2009-05-07

HOLD

Trans Canada Corp

TRP-T

30.480

Pipelines was an area where people where hiding. With market improvement people will be taking money out to put in E & P companies. An extremely well run company with some good areas. Have some start-up issues with last year’s New York City’s Ravenswood acquisition. Expect this will come together and the stock will start performing better towards the end of the year. 5% yield.

2009-05-07

Comment

BIM-T (Dead)

0.455

Iron ore resource on Baffin Island. This is a play on the global material cycle. Benefited last year because of the scarcity of the resource. Good management and the mine will get built. Good “long term” investment but can’t see a snap back immediately. Could be a takeover target.

2009-05-07

HOLD

Franco-Nevada Corp.

FNV-T

25.480

(Market Call Minute.) A play on the gold sector with an overlay on the oil sector. Looking at gold to be flat or down for next summer.

2009-05-07

SELL

ProShare Ultra Financial E.T.F.

UYG-N

4.180

(Market Call Minute.) A levered ETF on financials. Wouldn’t hold it over the longer term but more as a day trade.

2009-05-07

Comment

HBP NYMEX Oil Bull+ ETF

HOU-T

6.920

More day trading vehicles than anything else. He wouldn’t Buy and Hold as they only guarantee the “daily” performance. It’s levered to be double-weight the performance of oil.

2009-05-07

DON'T BUY

Direx Financial Bear 3x E.T.F.

FAZ-N

5.672

Tripled levered on the daily move of the US financial sector. More of a gambling vehicle. More for day trading.

2009-05-07

Comment

101.620

Trading at too much of a premium multiple to Research in Motion (Rim-t) right now. (He has Shorted Apple and gone Long Rim as a pair trade.)

2009-03-19

Comment

CitiGroup

C-N

2.600

Just announced a reverse split.

2009-03-19

BUY

FedEx

FDX-N

45.100

If you buy this, you are buying the US economy. Have as good an outlook on the economy as the treasury. CEO was signalling that he is seeing more of the bottom of the market.

2009-03-19

Comment

Goldman Sachs

GS-N

99.300

A fantastic company and likes it long-term. Probably have to raise equity at some point so you have to watch for an equity issue. Just sold his holdings.

2009-03-19

Comment

41.890

(A Top Pick May 7/08. Up 11.4%.) Has been trimming in the last few days because of the run-up in gold.

2009-03-19

BUY

Hewlett-Packard Co

HPQ-N

29.100

Looks really attractive at these levels. Have done a really good job in the last 6 months diversifying away from printers and getting into servers and other service applications. Trying to become the next IBM. Trades at a 2% discount to IBM.

2009-03-19

TOP PICK

Onex Corp

OCX-T

14.760

Have a pool of funds that they invest for clients. Hasn't really participated in the run-up of the financials right now. Also trading at a big discount to its NAV of $27. Have $4 of cash per share.

2009-03-19

TOP PICK

Canadian Imperial Bank of Commerce

52.260

(A Top Pick May 7/08. Down 59.7%.) Bit of a delay in launching their Apps store, which would allow them to compete more against Apple (AAPL-Q). Trading at around 11X earnings vs. Apples 19X-20X. He has done a pair trade shorting Apple and buying Rim.

2009-03-19

TOP PICK

Talisman Energy

TLM-T

13.950

Probably one of the best ones to hold any oil space right now. Becoming more positive on oil as a commodity. New management has done a really good job in consolidating positions. Sold some Bakken assets at a great price.

2009-03-19

PAST TOP PICK

Thomson Reuters Corp

TRI-T

31.950

(A Top Pick May 7/08. Down 13%.) Integration and cost cutting of Reuters is going well. Got lumped in with the whole financial crisis selloff. Almost an equal split between legal, educational and healthcare sides. Hoping earnings increase in the next year or so. A Buy. Try to buy on the London exchange (TRIL) as it is trading at about 15% discount.

2009-03-19

DON'T BUY

HBP Nymex Oil Bear+ ETF

HOD-T

21.480

Becoming more positive on oil market. Starting to see China and the rest of the world expand. With the financial crisis, oil producing companies have dramatically cut CapX budgets so there will be much less supply coming on in the next year or two.

2009-03-19

BUY

Agrium

AGU-T

33.350

Not a pure commodity play. Has some retail. Any concerns on farmers spending less could create problems. Likes it right here. Very cheap.

2008-12-08

DON'T BUY

BCE Inc.

BCE-T

24.650

Feels the deal is dead and it is going to be a hard battle to get it back on the table. In the $24 range is probably fairly good value for this right now. In a tough battle with Rogers (RCI.B-T). Has to go through a lot of restructuring. Have to redo their network. CDMA is almost a dead technology and they have to do a rebuild for GMS.

2008-12-08

DON'T BUY

CanWest Global Comm.

CGS-X (Dead)

0.580

Automobiles are the biggest ad spenders globally. At spending is going to come down, it puts a lot of pressure on the stock. Also, conventional TV is in a bit of a slump right now.

2008-12-08

DON'T BUY

CM-T

53.270

Have no US retail or US capital markets. Have already written off their bad assets. Seem to be more of a low risk bank now. Has probably had its run.

2008-12-08

TOP PICK

Canadian Natural Rsrcs

CNQ-T

42.200

A lot of the senior oil companies in Canada have been crushed. Trading around 4X next year's cash flow. The Horizon oil sands play, which has been a big cap X drag, is just about done. This will add a lot of cash flow.

2008-12-08

BUY on WEAKNESS

30.300

Good management. Some of their operations have had hiccups. Going through a massive startup on at Mexican mine.

2008-12-08

Comment

Home Depot

HD-N

24.250

Had a decent bounce off the bottom in the last few weeks. This is because it is a front-end stock. People look for whatever companies will start to bounce when things start to recover.

2008-12-08

BUY