STOCKCHASE

H&R Real Estate Inv Trust

0.020

Government of Canada 4% bond maturing June 1/41. Feels that interest rates at the government level will fall further because of a deflationary environment.

2010-07-21

TOP PICK

HR.UN-T

17.790

5.196% bond maturing Feb 3/15. Likes the company as an equity. The bond yields more than a lot of the conventional investment grade bonds.

2010-07-21

TOP PICK

20.110

US High Yield Bond Index Fund ETF. This is hedged Cdn$ removing currency risks. (Versus Past Pick US High-yield corporate bonds ETF (HYG-N).)

2010-07-21

PAST TOP PICK

0.020

(A Top Pick Oct 30/09. Up 7.6%.) US treasury 3.625% maturing August 2015. With no inflation threat, he thought the yields were too high compared to where inflation was going.

2010-07-21

PAST TOP PICK

Molson Coors Brewing Company

87.670

(A Top Pick Oct 30/09. Up 2.9%.) US High-yield corporate bonds ETF. Cdn$ took 1% of the return so switched to the US High Yield Bond Index Fund (XHY-T). (See Top Picks.)

2010-07-21

PAST TOP PICK

TAP-N

44.890

(A Top Pick Oct 30/09. Up 2%.) 5% bonds maturing Sept 22/15. Medium term corporate bond with a good balance sheet in the business that is fairly recession proof.

2010-07-21

Comment

iShares DEX Universe Bond ETF

XBB-T

29.800

Cdn Bond Market ETF. Price should hold up relatively well as he doesn't think interest rates will rise in the next 12 months. Not a fan of ETF’s, as he prefers individual bonds.

2010-07-21

Comment

iShares DEX Short Term Bond

XSB-T

29.110

Short Bond Index ETF. Price should hold up relatively well as he doesn't think interest rates will rise in the next 12 months. Not really a fan of ETF’s, as he prefers individual bonds.

2010-07-21

Comment

Claymore 1-5 yr Ladder Corp Bond ETF

CBO-T

20.510

1-5 yr Ladder Corp Bond ETF. Likes laddered approach over all and they should satisfy a smaller investor with small amounts to invest but would prefer a 7 or 10 year ladder.

2010-07-21

Comment

Claymore 1-5 yr Government Bond E.T.F.

CLF-T

20.320

1-5 yr Government Bond ETF. Likes laddered approach over all and they should satisfy a smaller investor with small amounts to invest but he would prefer the corporate is government yields are so low. (See 1-5 yr Ladder Corp Bond ETF (CBO-T).)

2010-07-21

BUY

Emera Inc

EMA-T

26.720

4.83% bond maturing in 2019. Too long for a corporate bond? This company has a good monopoly on power generation/distribution in Nova Scotia.

2010-07-21

BUY

Shaw Communication (B)

SJR.B-T

20.330

Bonds. Likes this as a company and their bonds have an attractive yield to maturity.

2010-07-21

HOLD

American Express

AXP-N

41.150

5.9% Cdn$ bond maturing April 2013. Hold or sell?

2010-07-21

DON'T BUY

Genworth MI Canada Inc.

MIC-T

24.560

5.86% bond maturing June 15/20. Doesn't understand or like this company very much and would want to own their bonds for 10 years.

2010-07-21

Comment

0.020

US or Canadian corporate bonds? Canadian yields are higher because the Canadian economy is stronger and inflation is a little bit higher. You're better off staying in the Canadian because of currency risks.

2010-07-21

N/A

0.020

There is a recovery underway with a growth of 3-4% in the next year or so. Consumer confidence has been affected by the weak job market. All over the world we have deflation going on. This is good for bonds. Spread between corporate and government has increased. Canada exports 9% to the Euro zones. You should not be shortening term, but lengthening term. Anything past 4 years is the sweet spot.

2010-06-07

DON'T BUY

0.020

Real Return Bonds: The first thing you need is inflation and the second is higher yield, so there are not the place to be right now.

2010-06-07

WEAK BUY

0.020

Barbell Strategy: Half money in 30-day treasury and half in 30-year bonds. Every 30 days to get half your principle back to re-invest. He sticks to laddered portfolios.

2010-06-07

BUY

0.020

Corporate Bonds: He favours them in North America. They offer an even more attractive yield in the last couple of months. 3-8 or 10 year term. Favours non-cyclical companies. No more than 10% in any one name.

2010-06-07

DON'T BUY

Brookfield Asset Management (A)

0.020

Step Up Bonds: Pay you a certain rate for a certain time and then it steps up. If rates fall then will call them and you have to re-invest. If they rise, then you are stuck with them.

2010-06-07

BUY

Shoppers Drug Mart Corp

SC-T

35.500

Shoppers Bonds: Interest is paid first and there is no risk to them at all. There is no threat to these bonds.

2010-06-07

DON'T BUY

BAM.A-T

24.650

He likes their bonds but there is an inadequate selection of long-term bonds. He would not go too long on corporate bond, however.

2010-06-07

SELL

iUnits Real Return Bond E.T.F.

XRB-T

20.890

There is no upside in these that he can see. There’s no performance upside. Conventional bonds are outperforming real return bonds.

2010-06-07

PAST TOP PICK

82.980

(Top Pick Oct 20/09, Up 1% because of yield) They converted to a Canadian dollar hedged fund in January. He thinks you will get double-digit returns out of this fund.

2010-06-07

Comment

0.020

Loonie: Will edge up toward parity. Exporting companies get used to dealing with a stronger loonie. People have to be prepared for it to be beaten up because it is only 3% of the currency in the world. It is one of the currencies that world banks turn to when they want to diversify.

2010-06-07

BUY

0.020

Dividend-Paying Stocks: Likes high dividend paying stocks. Seldom do they yield more than bonds, like they can now. Would rather own common than preferreds. Certainly would have some dividend paying stocks in taxable accounts.

2010-06-07

Comment

0.020

Bond prices and interest rates move in opposite directions. Don’t put all your money in one bond. Spread it out with a laddered approach. Likes a 1 to 7 year ladder. Interest rates should go to 2% in next 12 months (Bank Rate).

2010-06-07

BUY

0.020

25 Year Bonds: If you trade the bond market, it’s ok. To hold to maturity it is risky because you don’t know what the company will be like in 25 years. Use Government bonds for this term.

2010-06-07

BUY

82.980

Hedged in Canadian $. Recommended for a TFSA.

2010-06-07

VAGUE

Pimco High Income Fund

PHK-N

11.360

If this fund is available in a hedged fund, then he would not hesitate to recommend it. Default rates have fallen to less than 5% this year.

2010-06-07

BUY

Canadian Tire Corporation Ltd. (A)

0.020

Deflationary Environment: Look at long bonds – they perform the best.

2010-06-07

BUY

Molson Coors Canada (A)

TPX.A-T

44.250

Bonds: Business is almost recession proof.

2010-06-07

BUY

CTC.A-T

56.480

Bonds: Business is almost recession proof.

2010-06-07

PAST TOP PICK

0.020

US Treasury 3.625% 8/15/19 (Top Pick Oct 20/09, 7.3% Total) The whole inflation scare was over done. A Descent call on the deflationary world

2010-06-07

PAST TOP PICK

Molson Coors Canada (A)

TPX.A-T

44.250

9/22/15 Bond (Top Pick Oct 20/09, Up 8% including yield) Hardly any debt and good balance sheet. Non-cyclical business.

2010-06-07

BUY

0.020

Government of Canada 30-year long bonds 06/01/41: Chart looks very positive on this one. He sees an opportunity for interest rates to go lower.

2010-06-07

TOP PICK

0.020

US Treasuries 30 year 4.375% 5/15/40. Would exit in the next 3 months. Looking for a good capital gain. Good potential with the world slowing down and the flight into US assets.

2010-06-07

TOP PICK

0.020

Brookfield Renewable Power 6.132% bond 11/30/16. Likely to produce positive returns. It’s a company he likes. This could be part of a ladder.

2010-06-07

TOP PICK

iShares Cdn Corp Bond E.T.F.

82.980

Hedged in Canadian $ and well diversified. Default rate has gone down significantly in the US. Reasonable chance of double-digit returns. Yield to maturity of 9.75%

2010-06-07

DON'T BUY

XCB-T

20.490

They never mature. You are forced to buy whatever they buy and that is 35% financials because they is part of the index. Go with handpicked bonds.

2010-06-07

BUY

20.320

Hedged back to Canadian dollars. 150 bonds from all different industries I the US. About 8.2%

2010-04-27

DON'T BUY

CASH

0.000

Risky by itself. Have your money working I the market all the time. Venture in to the short-term bond market – up to 3 years. It guards against inflation.

2010-04-27

PAST TOP PICK

0.020

(Top Pick May 8/09, Up 11% Total Return) Bell Canada 02/15/2017 5%.

2010-04-27

PAST TOP PICK

0.020

(Top Pick May 8/09, Up almost 2% Total Return) Shorted Gov’t of Canada 06/1/2011 1.25%.

2010-04-27

HOLD

0.020

BMO Deposit Notes Due 7/17/18. This is a straight deposit note. He likes it and would not sell it here unless you want to place your capital somewhere else.

2010-04-27

DON'T BUY

0.020

What is a real return bond: Bonds that are indexed to the CPI. So a 3% bond has it’s capital indexed to the CPI and then the 3% is paid on the new principle. Not his favorite vehicle until there is inflation. They do fluctuation in price so you have to hold them to maturity.

2010-04-27

TOP PICK

Brookfield Asset Management (A)

0.020

30 year Gov’t of Canada Bond 4% 6/1/2041. Capital gain possibility in next couple of months. There is room for long bonds to rally. It’s a short-term play – 3 to 6 months.

2010-04-27

TOP PICK

BAM.A-T

25.840

7 Year Bond 5.29% 4/25/17. An investment grade company with good balance sheet. Bonds will earn that coupon rate in the next 12 months.

2010-04-27

TOP PICK

20.320

High Yield Bond Fund. Corporate credit has strengthened in the US. Bulk of maturities of 5-10 years. Average coupon rate of over 8%. IF a few companies have trouble you are insulated because there are so many companies in the fund.

2010-04-27

PAST TOP PICK

0.020

(Top Pick May 8/09, Up 31%) Trinidad Drilling 7.75% 07/31/2012. Liked the company. Bond was so far out of the money it was trading on their bond value and had no conversion value.

2010-04-27

BUY

0.020

Protecting in an increasing interest rate environment: A laddered bond portfolio does this. 7 portions – 1 year, 2 year, 3 year, etc. and get one seventh of your money back every year to re-invest at higher rates. He put together a corporate, laddered for his clients.

2010-04-27

Comment

Brookfield Asset Management (A)

0.020

A bond is secured by something real. A debenture is not secured. All Government bonds are actually debentures. ‘Bond’ is also used as a generic term.

2010-04-27

SELL

BAM.A-T

25.840

Brookfield Bond 06/2014. One of his favorite companies. Sell it and get one that matures at a later date. Lock in the capital gain.

2010-04-27

Comment

0.020

Preferred vs. Common: Preference is not to invest in Preferred shares anyway. He suggests bonds and common shares.

2010-04-27

Comment

0.020

Yield curve is a forecaster of growth. 2 Year rate since January has increased about 60 points. This is much more than the longer end. The market has already moved ahead of the Bank of Canada.

2010-04-27

BUY

0.020

Tier 1 bonds from Scotia and TD for the next 10 years for income: They are a good hold. They yield quite a lot more than regular bonds. They are actually capital trust securities. They dump mortgages into these securities. They are little further down on the bank’s balance sheet and attract a higher yield as a result.

2010-04-27

BUY

0.020

Strip Bonds: A fully compounding vehicle with no periodic interest payments to re-invest, good for the RRSP. In a taxable account you would be paying tax on interest you are not receiving.

2010-04-27

N/A

H&R Real Estate Inv Trust

0.020

Greek government is talking through its hat and some who are trying to put together a rescue package are not buying it. Greek debt was downgraded to junk status. This is quite a serious situation for the credit market. There’s going to have to be a write down of some size. His view is that it is not as bad as it looks in Canada. It will be a subdued recovery and inflation is not going to be a problem. The Canadian economy is going to come off the boil and the Bank of Canada does not have to raise rates.

2010-04-27

TOP PICK

HR.UN-T

16.040

Bond 5.196% 02/03/2015. He likes the company and the management. They survived the credit crisis. Likes the REIT and the REIT model. A lot higher than bank bonds are paying. This is what people should expect from the bond market.

2010-02-25

TOP PICK

0.020

Short 2 year Canadian government bond 1.33%. This is very difficult for a retail investor. Minimum million-dollar transaction.

2010-02-25

N/A

0.020

6 months ago we were in the position where there was inflation fears. There are still huge deflation fears in the world. This recovery is very fragile and lead by government stimulus only. Sweet spot on yield curve is 3-7 year term in corporates where they find value. The out performance trade on corporate bonds is over. Next opportunity is the high yield market. Huge fan of laddering.

2010-02-25

DON'T BUY

0.020

STEP-UP BONDS: They are a structured product from the banks where annually or semi-annually, the bank can call them from you or the rate steps up to a higher yield. They are in the bank’s favour and not for the investor. Can be an alternative to the money market funds.

2010-02-25

BUY

Claymore Advantage High Yield Bond ETF

0.020

CORPORATE BOND FUNDS: There is no drawback in buying a corporate bond fund. Prospects of yield widening is low. The only reason to not buy one is if you think we are going back into deep recession.

2010-02-25

BUY

Transalta Corp

TA-T

22.340

Transalta 2020 series bond: Likes the company, well managed and he would recommend these bonds.

2010-02-25

N/A

CHB-T

19.520

High yield bond fund. He has not looked at it yet in detail. Currency hedge is important. Prefers the iShares product.

2010-02-25

PAST TOP PICK

Trinidad Energy Services

TDG.UN-T

10.500

(Top Pick May 08/09, 25.5% capital gain) Trinidad Energy 7.75% 07/31/2012. They were a busted income trust.

2010-02-25

BUY

Sherritt International Corp.

S-T

7.130

Bonds 2014/2015. Favours them. If not for Cuba, would be trading at double ‘A’. Strong company, good balance sheet and nothing wrong with the credit. Bonds undervalued because the financial community can’t support their credit. Thinks they are good value.

2010-02-25

PAST TOP PICK

0.020

(Top Pick May 08/09, Up 1.5%) Gov’t of Canada 1.25% 06/01/2011.

2010-02-25

PAST TOP PICK

0.020

(Top Pick May 08/09, Up 14%) Bell Canada 5 02/15/17 Bonds.

2010-02-25

Comment

0.020

REAL RETURN BONDS: Apposed to them because he thought they were expensive, but they have been selling off. They are risky securities. Suggests tracking the spread between these and government bonds to get an idea of the inflation rate.

2010-02-25

Comment

0.020

BOND ETF RISKS: Pay their interest quarterly. There is a reinvestment risk. The yield of the bonds assumes reinvestment of coupons at the same rate.

2010-02-25

DON'T BUY

0.020

CORPERATE BONDS WITH MATURITIES OUT TO 2035: He would not buy a corporate bond that long a term. Only buys long-term government bonds. Nothing longer than 5 or 7 years.

2010-02-25

BUY

0.020

MIN INVESTMENT IN CORPORATE BONDS: $10,000 would be the absolute minimum for the minimum commission. If you need to invest less, go for the ETF market. E.g. XTB.

2010-02-25

BUY

0.020

PH&N High Yield Bond Fund: Likes it. It’s really a medium yield fund. Closer to investment grade securities in it. Good money managers.

2010-02-25

TOP PICK

19.950

High yield US bonds ETF. Currency hedged. .6 MER. Double-digit potential return. They are all junk bonds with average credit rating B or B+. Could be capital gains potential.

2010-02-25

TOP PICK

0.020

Canada bond 3.75% due June/2019. Government yields have risen almost 50 basis points this month, which he didn't think would happen. There really is no bear story for bonds. This will be a trade in probably 2 to 3 months as he thinks there is a good chance they will go down to 3%-3.25%.

2009-12-22

TOP SHORT

Brookfield Renewable Power Fund

0.020

Short Canada 1.25% maturing Dec 1/11. Yield curve will flatten in 2010 with these yields rising back to where they should be.

2009-12-22

TOP PICK

BRC.UN-T

19.270

6.132% maturing Nov 30/16. Likes the company. 2.5% over Canada’s and are rated BBB. Undervalued.

2009-12-22

PAST TOP PICK

0.020

(A Top Pick May 08/09. Up 39.2%.) Trinidad Energy Services 7.75% maturing July 31/12 yielding close to 9.5% to maturity.

2009-12-22

PAST TOP SHORT

0.020

(A Top Pick May 08/09. Up 1.6%.) Short Canada 1.25% maturing Jun 1/11.

2009-12-22

PAST TOP PICK

BCE Inc.

BCE-T

28.300

(A Top Pick May 08/09. Up 20.09%.) 5.54% maturing Feb 15/17. Still likes.

2009-12-22

DON'T BUY

iUnits Real Return Bond E.T.F.

0.020

Real Return Bond ETF or Fund? The yields on these are currently at 1.6%, which is too low for him. He would prefer seeing them at 2%. Also doesn't think the inflation rate is going to be 2.4% over the next two years, but will be under 2%.

2009-12-22

DON'T BUY

Aecon Group Inc

ARE-T

15.100

Convertible debentures. Does not recommend these. Yield to maturity is very low at just over 5% and these are non-investment grade securities. Yield on the underlying unit is about 1.2%.

2009-12-22

Comment

XRB-T

20.740

Real Return Bond ETF. For 10 years, this would be good to have in your portfolio but he would recommend a portfolio of individual securities rather than an ETF.

2009-12-22

Comment

iShares DEX Universe Bond ETF

XBB-T

29.570

Cdn Bond Market ETF. A good fund but would prefer the Cdn Corp Bond ETF (XCB-T). 74% of this one is government bonds and he would prefer corporates looking out to 2010.

2009-12-22

Comment

iShares Cdn Corp Bond E.T.F.

XCB-T

20.530

Cdn Corp Bond ETF. Prefers over the Cdn Bond Market ETF (XBB-T) because of its shorter duration and the higher yield. 52% of it is in financials, which is a high percentage.

2009-12-22

BUY

Marret High Yield Strategies

MHY.UN-T

10.550

Very bright and well-proven managers of high yield and credit risks. Fees are decent at 1% plus a performance fee. First class choice for a high yield fund. You could also look at Hi Yield Corp Bond ETF (HYG-N). (High risk/high return.)

2009-12-22

Comment

iShares Cdn Corp Bond E.T.F.

0.020

Bonds. Because there is no inflation, he thinks rates are going to go drop making this a pretty good time to buy. In particular, 10-year bonds are going to fall at about .5%. For terms of maturity, he would suggest 5 to 7 years.

2009-10-30

HOLD

XCB-T

20.430

Investment grade corporate bond ETF. The run this year has been excellent so far with 15%. Outlook for interest rate is fairly stable so you will at least earn the coupon rate.

2009-10-30

HOLD

iShares DEX Universe Bond ETF

XBB-T

29.640

Universe of every bond issued. There are about 2000 different bond issues from 1 day to 30 years so you own the bond market itself. Good news is low fees and no guesswork. Bad news is you don't know what is going to be worth when you retire giving uncertainty. You can plan your portfolio with a laddered approach in the meantime this is not going to hurt you.

2009-10-30

BUY

0.020

US treasury bonds. He is bullish on government bonds and thinks they are going to go to 3%. He uses ten-year bonds, which are at 3.5%. Rates are going to fall.

2009-10-30

DON'T BUY

0.020

Convertible bonds. There are some risks. They are subordinate to any other debt the company has. You also have to be very comfortable with the equity that they are converted to. A “buyer beware” market right now.

2009-10-30

Comment

0.020

Corporate bonds. There are still opportunities in the Canadian bond market that has seen a very strong contraction in credit spreads from the beginning of the year. We still haven't reached what is considered as normal levels.

2009-10-30

Comment

Bank of Nova Scotia

BNS-T

45.250

Preferreds. Not his favourite asset category. There is nothing in it for the investor. They are junior to bonds and you have no say in the running of the company.

2009-10-30

TOP PICK

0.020

US treasury 3.625% maturing August 2015. Bond market has been very stable and so has the inflation rate.

2009-10-30

TOP PICK

Molson Coors Brewing Company

85.180

US High-yield corporate bonds ETF. Yielding in double-digit territory. There will be a recovery. It will be slow. Spreads will continue to grind in more narrowly.

2009-10-30

TOP PICK

TAP-N

48.970

5% bonds maturing Sept 22/15. In a recession proof business.

2009-10-30

PAST TOP PICK

BCE Inc.

BCE-T

25.890

(A Top Pick May 8/09. Up 16.4%.) Would still buy.

2009-10-30

PAST TOP SHORT

0.020

(A Top Pick May 8/09. Up .40%.) Canada 1.25% maturing Jan 6/11. Would continue to Short.

2009-10-30

PAST TOP PICK