STOCKCHASE

Brookfield Renewable Energy

41.950

(A Top Pick Feb 15/11. Up 24.51%.) Looking at little bit rich but still yields 5% and management continues to execute very, very well. Had considered having this as a Top Pick.

2012-01-09

Comment

Valeant Pharmaceuticals

VRX-T

50.140

Has been a real growth story. It's a growth by acquisition and squeezing synergies out. This type of story always scares him. Also there is a lot of debt.

2012-01-09

DON'T BUY

BEP.UN-T

27.590

He owns the parent, Brookfield Asset Management (BAM.A-T) and finds the whole group interesting. There has been good growth in the dividend and will likely be further growth. The one he would prefer would be Brookfield Infrastructure (BIP.UN-T), which should have some very good dividend growth. This would be a safer bet. They had been hurt in the past by their hydro projects.

2012-01-09

TOP PICK

H&R Real Estate Inv Trust

HR.UN-T

23.200

4.75%. Recovered nicely from a near-death experience. Have repaired their balance sheet. Have room to grow distributions over time. Have full price escalation on a lot of their big projects.

2012-01-09

PAST TOP PICK

Potash Corp of Saskatchewan

24.450

(A Top Pick Feb 15/11. Down 8.1%.) Still likes. All of the energy stocks are down since February but this has been one of the best performing energy stocks on a 1 year basis. 4.5% dividend yield. Had a big natural gas discovery in South China seas.

2012-01-09

SELL

Intel

INTC-Q

25.465

Likes the company. They are behind the 8 ball a little bit on the tablets. Seems to fall back after it hits $25. If you own it, consider selling, at least part of it. Also, their largest customer is Hewlett-Packard (HPQ-N) and they just signed a joint venture agreement with ARM Holdings (ARMH-Q), a leader in the tablets space, which could be a competitive threat.

2012-01-09

Comment

Manulife Financial

MFC-T

11.510

(Market Call Minute.) Just bought some recently. Highly volatile. $12.50-$13 and he is gone.

2012-01-09

BUY

Pfizer Inc

PFE-N

21.820

(Market Call Minute.) Good dividend yield. Company is buying back a lot of stocks. Well-run in a very tough business.

2012-01-09

DON'T BUY

POT-T

42.620

There is a very close correlation with food prices and food prices have been moderating. Cutting production in some of their mines. There is no shortage of supply of potash. He would prefer BHP Billiton (BHP-N). Try to get it under $70.

2012-01-09

BUY

Power Financial Corp

PWF-T

25.160

Good dividend yield. Have been struggling. Not just the insurance, but also the asset management business, which will be under some competitive pressure. Also had some exposure to some European assets. It's a non-bank financial, which he is more positive on. Be a seller at $30.

2012-01-09

DON'T BUY

Starbucks

SBUX-Q

46.590

Have done a great job of turning itself around. It's a high-end product. All of these consumer names have been on a real tear in the last couple of years and doesn't feel they are cheap. If you want a global franchise in this kind of industry, he would look at McDonalds (MCD-N) but it's expensive right now so wouldn't necessarily buy it today. You could also look at Yum! Brands (YUM-N).

2012-01-09

BUY

Suncor Energy Inc

SU-T

31.910

(Market Call Minute.) Thinks you could buy it here. Your risk is $28.

2012-01-09

DON'T BUY

Teck Resources Ltd. (B)

TCK.B-T

37.650

Stock has been under a lot of pressure and he has been looking at it recently. There has been a slowing of the economy with weak copper prices. Coal has been strong but there have recently been threats of renegotiating lower prices. All the resource-based companies have had a correction. If it got down to the low, low $30 on a real scare he might be interested.

2012-01-09

DON'T BUY

Talisman Energy

TLM-T

12.400

2012-01-09

Comment

A T & T US

T-N

29.660

(Market Call Minute.) Good dividend yield. Very competitive business. A lot of capital is needed to stay in business.

2012-01-09

DON'T BUY

Penn West Petroleum

PWT-T

21.290

A company that is dealing with a transition from being an income trust to being and exploration/development company. Have continued to pay out a very high distribution/dividend. If they really want to go to work on their massive drilling inventory and not have to rely just on strong energy prices, they should reduce the dividend.

2012-01-09

BUY

Royal Dutch Shell PLC (A)

RDS.A-N

73.980

Good dividend and well-run company. Wouldn't hesitate to own it.

2012-01-09

TOP PICK

Tourmaline Oil Corp

TOU-T

26.870

Great management. Debt free. Very, very rapid production growth. Recently raised money and management put $50 million of their own in. Proven track record. Good price.

2012-01-09

Comment

Noble Energy Inc.

NBL-N

98.330

A good Short? This is in the service side of the business. Global consumption of crude and natural gas is going to continue to expand regardless of whether we have a mild recession or not. Don't get overly bearish.

2012-01-09

PAST TOP PICK

Barrick Gold

ABX-T

50.820

(A Top Pick Feb 15/11. Up 5.67%.) Costs them about $450 to get gold out of the ground plus they have a great copper project, which is a cash flow spinner. Just increased their dividend by 25%. Good management team. Trading at about 11X earnings.

2011-12-08

Comment

Agnico-Eagle Mines

AEM-T

43.320

This was a management team that was really well respected. Then they had a major problem with the mine and had to write it off. They're in the doghouse. Doesn't see this as a takeover target. There is definitely tax loss selling right now so there may be an opportunity from a trade perspective. If gold goes down, his company will go down even more.

2011-12-08

TOP PICK

Altagas Ltd

ALA-T

31.280

Converted from a trust. 4.6% monthly dividend. Just increased their dividend. Processing, distribution and transportation of natural gas. Just signed new 60 year contracts to build some hydroelectric generating capacity to sell to BC Hydro. Can increase dividends up to 2014 by 5% a year followed by 10% a year after that.

2011-12-08

DON'T BUY

Bombardier Inc (B)

BBD.B-T

3.590

Balance sheet has always had too much debt for his liking. The big wonder has been on the wonderful contracts of all the planes and trains were going to be able to sell to China, but the fact is, that in the joint venture that they have, the Chinese get a pretty good deal. Doesn't see a lot of contracts for planes and trains in Europe.

2011-12-08

PAST TOP PICK

H&R Real Estate Inv Trust

40.600

(A Top Pick Feb 15/11. Up 19.28%.) Just raised their dividend again today. Still considers it as outstanding value.

2011-12-08

TOP PICK

Bank of Nova Scotia

BNS-T

48.540

Well run and has always done very well. Trading at about 10X earnings. Easy to trade at 12X earnings. About 4.5% yield. International operations is the place you want to be. Looking for mid-$50’s in one year.

2011-12-08

DON'T BUY

Connacher Oil and Gas

CLL-T

0.920

Very heavily in debt and their financing costs are very high. It is the subject of a potential acquisition. Has perennially not met its production targets on the boilerplate design of its facilities.

2011-12-08

BUY

Enbridge

ENB-T

36.250

Trans Canada (TRP-T) or Enbridge (ENB-T)? Owns a lot of this company. Just increased dividends 15% as well as their guidance for next year. Good management. When there is an interest rate change, be careful and seriously re-evaluate.

2011-12-08

TOP PICK

HR.UN-T

23.390

Almost 5% yield. About 98% occupancy. Most of their clients have credit ratings that are better than theirs.

2011-12-08

PAST TOP PICK

Potash Corp of Saskatchewan

24.940

(A Top Pick Feb 15/11. Now 6.4%.) Have massive resources and big, big projects coming on line, first in the South China seas and good growth aspects in the Western sedimentary basin. Still buying. About 4.5% dividend.

2011-12-08

BUY on WEAKNESS

POT-T

41.960

Potash prices track very closely to food prices and food prices have been weakening recently. India, which is one of the largest countries for potash, refused about 35% of their normal quota when potash producers refused to lower the prices. There is probably also some tax loss selling. He has his eye on this one for a possible potential purchase but would prefer to see it in the high $30's.

2011-12-08

DON'T BUY

Sunlife Financial

SLF-T

18.280

25-35 year long-term hold? With that good time frame, you can make a lot of long-term investment decisions. If you don't get carried away, you will do very well. They should not be paying their 7.8% current dividend as they are impairing their long-term earnings ability. He feels we are in a secular bear market, which means it doesn't make a lot of progress for the foreseeable future.

2011-12-08

DON'T BUY

SNC-Lavalin Group Inc.

SNC-T

49.600

Has been a really well run managed company. Has done some wonderful projects globally. A volatile company. You have to be concerned about people putting off or delaying contracts because of the credit crisis. This company relies on big, big projects. Will probably be sluggish for the next couple of years. Also, they often don't get paid until the end part and often have to take equity positions.

2011-12-08

Comment

Sherritt International Corp.

S-T

5.450

Stock is trading where it is because of their big project in Madagascar. If they pull it off and it works and there is a resumption of decent economic growth, you are okay.

2011-12-08

BUY

Suncor Energy Inc

SU-T

29.540

Feels there is definitely some tax loss selling going on. They had big bay expensive projects and a lot of mining operations. He prefers the SAGD operations or smaller projects, which are capital intense but in smaller chunks. You could buy and he thinks you will see $35-$40 again. Should be good production growth.

2011-12-08

Comment

Teck Resources Ltd. (B)

TCK.B-T

37.360

There is a slowing global economy. The big engines of growth are the emerging markets and they are slowing. In the short term, this company has downside risks. Wouldn't want to pay more than $30 a share for this one right now. Iron prices are we and coal prices will catch up.

2011-12-08

BUY

A T & T US

T-N

28.860

Good dividend yield. Canadian investors moving into the US is a good idea. Telecom is a very competitive business and very capital-intensive. Don't expect a lot of growth.

2011-12-08

Comment

Trans Canada Corp

TRP-T

42.540

Trans Canada (TRP-T) or Enbridge (ENB-T)? Owns a lot of Enbridge and just increased their dividend 15% as well as their guidance for next year. When there is an interest rate change, be careful and seriously re-evaluate.

2011-12-08

Comment

0.020

Markets. To protect yourself and get some growth, stick to good quality, dividend paying companies that are well run. Also pay attention to how much cash you have in your portfolio and that you are not selling on down days and make sure your asset allocation is correctly situated.

2011-12-08

Comment

Gibson Energy

GEI-T

19.300

A private equity company got involved in it and have been basically selling off their interest over time and he thinks they will continue to do that. It’s a grab bag of a bunch of essential services. A big part of it is trucking. A little bit rich. Doesn't expect it to be a huge growth business.

2011-12-08

Comment

Poseidon Concepts

PSN-T

11.310

Manufactures tanks to store fluids, oil and water for fracing during drilling for wells. They rent the tanks out and it's paying very well right now. There are no barriers to entry to this business so be careful. They are paying a very high distribution.

2011-12-08

DON'T BUY

AGF Management (B)

AGF.B-T

15.510

This one will trade in line with the equity markets. The dilemma with all the fund management companies is the competition with low-cost ETF’s. ETF business is going to continue to put pressure on margins of fund companies.

2011-11-02

Comment

Aecon Group Inc

ARE-T

8.990

Has to be a lot of spending on infrastructure and this company will get its fair share but governments are reining in their spending, so is now the time to buy construction company. Fairly small and will bounce around a lot.

2011-11-02

PAST TOP PICK

39.660

(A Top Pick June 15/11. Up 7.9%.) 5.25% yield. Well run. Represents excellent value.

2011-11-02

BUY on WEAKNESS

Becton Dickinson

BDX-N

72.600

Disappointed earnings today so will be down tomorrow. Good dividend yield and trades at about 12X earnings. This is one you buy on weakness and average down. Good demographics.

2011-11-02

DON'T BUY

Canadian Oil Sands

COS-T

22.240

High-cost producer. There is some question as to whether they are going to have to invest more money to develop their assets more. Not a growth story. If, down the road, the US does not need all our oil, this one is vulnerable.

2011-11-02

DON'T BUY

Enerplus Corp

ERF-T

28.520

Produces and sells natural gas but natural gas prices are not doing very well. Good management. 7.6% dividend, which should be a warning sign when it is yielding so much more than others. May be a sign that the dividend is not secure.

2011-11-02

TOP PICK

Potash Corp of Saskatchewan

25.190

(A Top Pick June 15/11. Down 11.04%.) Have a new CEO and are becoming a lot more active in the Western Canadian sedentary basin. Have assured access to refinery capacity, which may be very important down the road. Have a massive gas discovery in the South China Sea.

2011-11-02

BUY

Keyera Corp

KEY-T

46.850

Loves this one. Just increased the dividends. Spectacular earnings. One of the best management teams in Canada. Have a lot of growth in front of them. 4.6% yield.

2011-11-02

DON'T BUY

POT-T

47.450

Just bought on the NYSE (US$50.70). Was this a good idea? In the short term, you want to have US$’s. Given the weakness in the global economy, the Cdn$ is probably vulnerable. Food prices globally have been moderating. Food prices are always a good leading indicator of potential potash sales.

2011-11-02

Comment

RioCan Real Estate Investment

REI.UN-T

25.000

Has been a great growth story. Expanding more into the US now, probably because they're such a dominant player in Canada. Be aware that REITs are very interest rate sensitive.

2011-11-02

HOLD

Research In Motion

RIM-T

19.180

Below BV for the 1st time in 9 years. Previous transactions have shown these kind of companies get taken out about 70%-80% of sales, which would put a value on this one somewhere around mid $20's.

2011-11-02

DON'T BUY

Sunlife Financial

SLF-T

24.000

Some day it will be a right time to own this one. This company and Manulife (MFC-T) are struggling with the reality of low interest rates. If rates stay low, it will have to reserve more money again in the future. The stock is reflecting that the dividend is at risk.

2011-11-02

PARTIAL BUY

Teck Resources Ltd. (B)

TCK.B-T

39.050

Likes this one. Expects it is going to be very volatile. China is slowing and Europe is probably going into a recession in the US is growing slowly. Best time to own is right in the heart of a recession. You may be a little early but it is a company that is doing very well. If you don't own, buy half now and if it gets down to the low $30's, add another quarter and go all the way in the $20's.

2011-11-02

DON'T BUY

Trans Canada Corp

TRP-T

41.860

He feels most people think they will get the pipeline permit. If they do, the drawback is they are going to have to raise capital to help finance the transactions. Although the Excel pipeline is a great idea, Enbridge (ENB-T) pipes have a lot more option allocate in them.

2011-11-02

TOP PICK

Savanna Energy Services

SVY-T

8.350

7% bonds due May 2018. Likes the drilling companies. Feels they are in a sweet spot for a number of years. This company has drilling operations in Canada and Australia. Yielding 7.75% for 7 years.

2011-11-02

BUY

Crescent Point Energy Corp

CPG-T

42.470

Very well run company. Have a good portion of their production for next year hedged.

2011-11-02

PAST TOP PICK

CML Healthcare

CLC-T

9.850

(A Top Pick June 15/11. Up 5.32%.) Dividend is running around 8%-8.5%. A big risk was the Ontario government going through a healthcare review, which turned out favourably. Some assets in the US, which was a mistake.

2011-11-02

Comment

0.020

Europe. Situation is untenable and is dealing with the financial stability of the world. A political situation trying to solve a financial situation, which is dangerous. Surprised that the markets are treating the situation so nonchalantly. Credit markets are always a good leading indicator. Generally speaking when you finish a crisis, there is some kind of a climax, usually on the upside..

2011-11-02

Comment

0.020

Cash. To be invested in cash and have complete liquidity, you would not be invested in the stock market, which could be a good or bad decision. There is really no place to park your money in the short term and make anything on it.

2011-11-02

DON'T BUY

Genworth MI Canada Inc.

MIC-T

21.850

Basically provides insurance on mortgages. Home affordability is poor, particularly in certain regions, which is dangerous for this company. A lot of people are being squeezed and if interest rates go up, there could be a big drop in home prices.

2011-11-02

TOP PICK

Western Energy Services

WRG-T

8.280

Oil field services. Great management team. These are the guys that built Precision Drilling (PD-T) from the ground up. Have gone from 0 rigs to 48. They are profitable. Drilling in Alberta and North Dakota and it rigs are operating at 95% capacity.

2011-11-02

PAST TOP PICK

Barrick Gold

ABX-T

53.710

(A Top Pick Feb 15/11. Up 10.25%.) Liked the acquisition of the copper.

2011-09-07

BUY on WEAKNESS

Agrium

AGU-T

87.140

This represents decent value. Not cheap but reasonable valuation. Lots of free cash value. In this environment, he would like to buy it on a big down day. Longer-term there could be a supply issue.

2011-09-07

TOP PICK

38.650

(A Top Pick Feb 15/11. Up 12.72%.) Yielding 5.5%. Have done a great job of cutting costs. Well run with a well rounded management team.

2011-09-07

BUY

Canadian Natural Rsrcs

CNQ-T

35.660

He likes this one a lot. Expects you could see it in the $40-$50 price range. Very well run. Tremendous assets. Strong management.

2011-09-07

Comment

General Electric

GE-N

15.800

Industry leaders in industrial and medical parts and they will have good sales and good growth. The drawback to this company is its financial services business. Doesn't like anything financial, particularly in the US, in his portfolio. Would prefer at $14. If the financial stuff heats up again, it could drop quite a bit further.

2011-09-07

PAST TOP PICK

23.880

(A Top Pick Feb 15/11. Down 10.9%.) Still likes. Dividend of about 5%. Good strong balance sheet.

2011-09-07

TOP PICK

Intel

INTC-Q

20.080

Rock solid balance sheet. Industry leader. Showing very good sales in emerging markets, which he likes. Trades at about 8-9 times forward earnings. Pays 4%+.

2011-09-07

BUY

Manulife Financial

MFC-T

13.000

Caller wants to move his large telco holding to a lifeco. Which one would he pick? Feels Manufacturers (MFC-T) has the best potential for a return over a 5-year period. Their products are selling off the shelf like hotcakes. Exposure to Asia is fantastic.

2011-09-07

DON'T BUY

Newmont Mining (US)

NEM-N

63.810

Mining sector has held in quite well in spite of market concerns. Gold companies have all lagged bullion. It is a reasonable assumption that they will catch up but, the price of gold, is so far above its marginal costs that if things change, bullion could be adversely affected which would feed down to mining companies. He would lean more towards oil at this time.

2011-09-07

DON'T BUY

Niko Resources

NKO-T

53.000

Was under investigation. Has a large resource. Wouldn't by any at this time.

2011-09-07

TOP PICK

Oracle

ORCL-Q

27.630

Good management. Businesses are going to have to be more efficient in this environment and this is one of their choices. Very strong balance sheet. Paying a dividend of a little under 1%. Good international sales.

2011-09-07

Comment

Royal Bank

RY-T

49.070

All banks are struggling but this one has been struggling more than others. Getting out of US retail banking was a positive. The dominant player in retail banking in Canada and are looking to grow the business in the capital market in trading. Have been making acquisitions recently in Europe.

2011-09-07

DON'T BUY

Thomson Reuters Corp

TRI-T

29.250

Missed their earnings again but raised their dividends. He thought this was wrong so sold his holdings. Good dividend yield but has been struggling.

2011-09-07

Comment

Trans Canada Corp

TRP-T

42.680

Feels the US president is going to say Yes to the Keystone project and it is going to get built. They need our oil. Will have to raise a lot of money to build this, which could be a bit of a negative.

2011-09-07

Comment

Wal-Mart Stores Inc.

WMT-N

52.420

Great growth story in the 90s but peaked out around 2000. Trading at a fair multiple now. Dividend was raised and is almost 3%. Would be a seller if the trade at at around $56 and a buyer at around $48. Getting a lot of competition.

2011-09-07

DON'T BUY

TSX Group

X-T

40.120

There are concerns that the takeover deal may not close. The offer that is on the table will be taking back some stock and there are questions about the valuation. Competition could come into Canada.

2011-09-07

Comment

0.020

Markets - Range bound and investors are going to have to make decisions on what they want. Be prepared that if the market is up 200 points, it may not be there tomorrow. In a trendless market, dividends will play an important role. When the markets get to their upper range of about 1400, start reducing and raising cash in your portfolio. When it gets down to around 1000-1100 start adding, but always focus on dividend payers.

2011-09-07

BUY

ArcelorMittal

MT-N

19.770

This is something he would look at here. You might get a short-term boost here because he feels you are about to see India and China take their foot off the brake.

2011-09-07

Comment

Las Vegas Sands Corp.

LVS-N

47.990

Butting up against the upper end of its range. Economy is slowing in this company makes its living on people flying in and gambling. If people are concerned about a slowing economic environment, he would look at buying this in the depths of a real global slowdown.

2011-09-07

DON'T BUY

Mosaic Company (The)

MOS-N

71.120

Trading at 15-18 times earnings and longer-term he has a concern of both supply coming on stream. Investors became enamored with all these stocks when there were supply disruptions when Potash (POT-T) became very expensive.

2011-09-07

DON'T BUY

Alcoa

AA-N

12.240

There could be bad news on the horizon still. Prefers BHP.

2011-08-09

DON'T BUY

Bank of America

BAC-N

7.600

Recent lawsuit is just one is a series that they are or are going to be involved in. Financial services in the states are a tough, tough business. Wouldn’t get involved. The government is just going after them through regulation.

2011-08-09

PAST TOP PICK

37.160

(Top Pick Apr 11/11, Up 4.54% total return) Still likes the story. Management done a good job of managing its costs. Recent acquisitions are working out quite well. Investors should have a lot of these high yielding stocks.

2011-08-09

BUY

Canadian National R.R.

CNR-T

68.720

Good chance of dividend rising again. They are efficient. If you want exposure to transportation, this is the correct one of the two railways.

2011-08-09

DON'T BUY

Encana Corp

ECA-T

23.890

Natural gas is the place to be if you are a patient investor. Splitting themselves in two was a horrible decision. Prefers Bonavista. Would take cash flow of Bonavista over the uncertainty of ECA.

2011-08-09

DON'T BUY

General Electric

GE-N

15.960

Great industrial company, well diversified. Volatility in currencies. Doesn’t like the financial component and it is a big one. They are managing their way out of the problems. Prefers technology.

2011-08-09

PAST TOP PICK

24.960

(Top Pick Apr 11/11, Down 15.30%) Would not hesitate to own it today. Likes dividend and defensive aspect of it. Good balance sheet, new CEO who is on the ball and major resources to develop. Good dividend.

2011-08-09

TOP PICK