STOCKCHASE

RioCan Real Estate Investment

38.730

Likes the cell phone business. It under performed T and BCE. Thinks there will be more consolidation among new players. RCI is well positioned for it.

2012-01-12

TOP PICK

REI.UN-T

26.540

Best in class, record of increasing payout. Bring outlet malls to Canada. Lots of opportunities in the US. American retailers are discovering retailers. Target will be very beneficial to Reocan. Very attractive distribution.

2012-01-12

PAST TOP PICK

52.770

(Top Pick Jan 19/11, Up 1.28%)

2012-01-12

HOLD

32.650

Like CNQ it is a premier producer. Will be volatile. IF you have a reasonable horizon you will be pleased you took advantage of what happened to it in 2011

2012-01-12

BUY

Teck Resources Ltd. (B)

TCK.B-T

39.980

Well diversified, likes it. Silver birch asset will be positive. Net coal expansion and copper prices may turn around.

2012-01-12

BUY on WEAKNESS

28.700

4.5% dividend and you are being paid to wait. The financial part of their business is very skewed toward Europe. Until Europe is on a good footing you will not see good performance from TRI, but you could buy it here.

2012-01-12

PAST TOP PICK

44.780

(Top Pick Jan 19/11, Up 15.57%) Wonderful Yield. Good in the way they structure the business and how they hedge it. Thinks it will continue. Last quarter’s earnings really surprised on the upside. Purchase candidate.

2012-01-12

BUY

0.020

Markets: Not a great year for the TSX and the first time in a long time that it under performed the S&P. By the second half we will have more confidence in the ability for growth. Our financial sector remains strong. Not yet bargain hunting in the nat gas area. The correction that is needed just wont happen over night.

2012-01-12

DON'T BUY

LuLulemon Athletica

LLL-T

62.370

There is a lot of risk when it is at this price. Would be happy at a multiple of 25. Has terrific momentum and a fantastic company.

2012-01-12

TOP PICK

Cenovus Energy

CVE-T

34.050

Best oil company in Canada, beautifully structured. Just put out a 10-year plan where they see cash flow increasing every year. They can actually make money in Nat Gas at $3. Has to do with freehold land they hold. Trades at a warranted premium to its piers. Best in Breed, which you should invest in in this kind of market.

2012-01-12

DON'T BUY

Agnico-Eagle Mines

AEM-T

62.030

Has continued to disappoint on the production side. Would prefer Goldcorp (G-T) in the mid-tier sector, which is going to increase its production 50% over the next 3 years. If you want to be really conservative, consider Barrick (ABX-T).

2011-07-15

BUY

BCE Inc.

BCE-T

38.120

Comfortable with this one here, partly because of its 5.5% dividend. Has increased the dividend at quite a clip over the last 3 years. Will continue to struggle with wire line negative growth but well-positioned in the growing smart phone market.

2011-07-15

WAIT

Bank of Montreal

BMO-T

61.160

A bit premature for this one. Wait until you see how their latest acquisition has done. Execution will be critical to its valuation.

2011-07-15

BUY

Canadian Oil Sands

COS-T

26.690

Very well positioned in the oil sands. Wouldn’t be her top pick, but she likes it. Will be volatile along with energy prices.

2011-07-15

BUY

Canadian Pacific Rail

CP-T

59.010

Affected by heavy snows in the winter and flooding in the spring. Prefers Canadian National (CNR-T) on a longer-term basis. Big difference in their operating ratios. Both are good companies.

2011-07-15

PAST TOP PICK

Cisco

CSCO-Q

15.590

(A Top Pick Jan 19/11. Down 25.34%.) Still likes. Very cheap.

2011-07-15

BUY

Manulife Financial

MFC-T

15.990

Good international exposure. Likes their insurance exposure in Asia. Good dividend. Did a good job of restructuring. It will benefit if interest rates go up. Good entry point.

2011-07-15

TOP PICK

PepsiCo

PEP-N

68.530

With the Cdn$ so strong, now is the time to take advantage of our dollar to buy big multinational companies at a discount. Diversified across a number of product lines. Recently increased the dividend 7%. Trading at a discount.

2011-07-15

WAIT

Power Corp

POW-T

25.890

Very diversified. The one caveat is their European exposure but views this as a temporary thing. Well managed and a good yield. Would wait until Europe is a little more stable.

2011-07-15

PAST TOP PICK

53.050

(A Top Pick Jan 19/11. Up 0.55%.) Still likes.

2011-07-15

BUY

SNC-Lavalin Group Inc.

SNC-T

56.520

Stock came off sharply with the unrest in the Middle East, particularly in Libya. Operates in 43 countries. Infrastructure engineering company and also owns infrastructures. Well-positioned to benefit from the growth in emerging markets.

2011-07-15

HOLD

Talisman Energy

TLM-T

18.610

In transition as it tries to refocus both its Canadian and international operations. Good company but it may not perform until the market is confident that its strategy is going to be successful.

2011-07-15

HOLD

34.200

Recent performance has been very disappointing. Merger with Reuters was a very good move but integration is not going as well as they would like. Also, Reuters has a lot of European exposure and this has been weighing on the share price. Well positioned to grow.

2011-07-15

PAST TOP PICK

42.000

(A Top Pick Jan 19/11. Down 2.75%.) Still likes.

2011-07-15

TOP PICK

Intact Financial

IFC-T

56.080

Recently made a good acquisition of AXA Canada at a price lower than most analysts had expected. It brings them into a 17% market share in Canada, but more importantly, it gives them diversification. Very accretive. Dividend yield of 2.7%.

2011-07-15

WEAK BUY

LuLulemon Athletica

LLL-T

57.790

Fabulous company and loves the product but it is expensive at 54X this year's earnings. Lots of growth potential in the US but the stock is priced for perfection.

2011-07-15

TOP PICK

Cenovus Energy

CVE-T

37.100

Oil sands but comes at it differently than Sunoco (SU-T). Uses SAGD (steam assisted gravity) giving them a significant technological advantage. Growth prospects are excellent. Recently updated their 10 year plan and are looking for 8% plus growth in the next 3-5 years.

2011-07-15

WAIT

Barrick Gold

ABX-T

43.440

Quite controversial right now. Acquisition of copper has raised investors concerns because base metals trade at lower multiples than gold stocks. Percentage of cash flow from copper will be 19%, which is in line. Company thinks it will give them the cash flow growth they need to do acquisitions in the gold sector. Would let investor sentiment settle out a bit here.

2011-05-12

Comment

Agnico-Eagle Mines

AEM-T

59.440

Gold producer so tends to move with gold prices, but commodity stock prices do not have a one to one relation with commodity prices. This company had some disappointments on production, which is what has probably caused the disparity. Good company with a good outlook but in a bit of a “show me” mode until investors are confidant on production guidances.

2011-05-12

TOP PICK

BCE Inc.

BCE-T

37.890

Reported great earnings relative to expectations. CTV acquisition should turn out to be very good. Increased the dividend 5%. (6th one since the 4th quarter of 2008.) 5.5% dividend yield. Good growth.

2011-05-12

BUY

Canadian Natural Rsrcs

CNQ-T

40.000

Canadian Natural Resources (CNQ-T) or Suncor (SU-T)? Likes both of them. Suncor's Petrocan acquisition is now starting to pay off so as not as pure a resource play as CNQ. CNQ has had some fire problems with their Horizon project but seem to be well positioned. If she could only own one, it would be Suncor.

2011-05-12

BUY

Canadian Pacific Rail

CP-T

60.620

Canadian National (CNR-T) is the better managed company but this one trades at 1 to 1.5 discount to CN. Rails benefit from growth in the emerging markets. $0.30 a share in dividends. Likes both companies.

2011-05-12

HOLD

Cisco

CSCO-Q

16.930

Leader in the communications field. Cloud computing will be the next big thing. Just reported and had the 2nd quarter in a row with a disappointing outlook. Stock is being hit. She's considering buying more at this price. Well positioned. Talk of taking $1 billion out of the cost line, which will help. Market position is unassailable and they are well positioned for international growth. Stock won't do very much in the near term, but longer term, an excellent investment.

2011-05-12

BUY

Enbridge

ENB-T

60.200

Doing a 2 for 1 split and technically this has no impact but it does make the stock more accessible and comfortable for some retail investors. Fundamentals are good. Expecting 10% per annum growth over the next 5 years. This along with the 3.3% dividend could give you very good returns.

2011-05-12

TOP PICK

PepsiCo

PEP-N

70.960

Leading multinational company and derives almost a third of revenues from emerging markets. Packaged food division and moving to organic. Good growth rate at 8%-10% over the next 3 to 5 years. Not expensive at 15.5X earnings and a 3.1% dividend yield. With Cdn$ being so strong, it might be time to think about diversifying your currency exposure.

2011-05-12

HOLD

Pfizer Inc

PFE-N

20.890

Largest global pharma. Likes it. Whole pharma sector has been suffering from a lack of new block buster drugs. This one is facing the expiration of the patent on their Lipitor drug but this is already reflected in the stock price. Have some very promising drugs in phase 2 and 3 clinical trials. Stock is not expensive and has a 4% yield.

2011-05-12

BUY

35.530

Likes at this price and has been buying. Smart phone market is in an explosive growth mode and in some respects the carriers are a low Beta way to play that growth. This company is very strong on the data size and with all the new products there is increase in data usage. 4% yield.

2011-05-12

Comment

Sunlife Financial

SLF-T

30.420

Cdn life companies have been disappointing. Prior to 2008 they were viewed as much less risky than the banks. The opposite ensued. They had another messy quarter. Life insurance accounting is very complicated. Good company and will continue to grow. Will take some to recover its ROE to the levels pre-2007. Decent yield.

2011-05-12

PAST TOP PICK

38.880

(A Top Pick Nov 18/10. Up 13.2%.) Suncor's Petrocan acquisition is now starting to pay off.

2011-05-12

PAST TOP PICK

Toronto Dominion

TD-T

81.580

(A Top Pick Nov 18/10. Up 12.68%.)

2011-05-12

PAST TOP PICK

37.750

(A Top Pick Nov 18/10. Up 2.69%.) Thinks there is concern that in a weakening economy, the head count at financial services and legal firms has an impact on their products. Still likes.

2011-05-12

TOP PICK

43.130

Levered to sweet light oil. Cash flow up 45%. 6.6% dividend yield. Hedge production, which is very positive. 55% of this year's production is hedged at prices of $88 to $104 and 35% for net year. Greatly increased drilling in Q1 with a 100% success rate.

2011-05-12

Comment

0.020

Market: We are in a period that will be quite choppy. Not done with the correction in commodities, which will continue to weigh on the markets. For oil there will be some ups and downs but longer term she is very optimistic on oil and as a result optimistic on Canada. Gold will trade along with other commodities and will be volatile. A good hedge against weakness in the US dollar

2011-05-12

Comment

0.020

US$: Rallying strongly against the Euro. You might have expected that given that everyone thinks the US is finished. So much pessimism. Euro has been very strong. However, no one has ever made money counting the US out. Very resilient economy. In the medium to longer term they will manage their way out.

2011-05-12

BUY

BCE Inc.

BCE-T

35.470

Excellent dividend yield of over 5%. Also had a great record over the last 3 years of increasing dividends. If she had to own only one thing in the telecom space it would probably be Rogers (RCI.B-T) but she does like this one. Has downward drag on earnings from losing the wire line but are active in the wireless, which will be a big growth area.

2011-03-03

TOP PICK

Canadian Natural Rsrcs

CNQ-T

47.970

Strong management. Just reported earnings above expectations. Expecting 20% increase in the dividends longer term. Stock dropped because of the fire at the Horizon project so costs, because of repairs, will be a little bit higher. Great way to play oil sands.

2011-03-03

HOLD

Canadian National R.R.

CNR-T

71.740

Long time favourite. Just hit a 52-week high. Great way to play the growth in emerging economies because it ships to the ports that ship. May be a little bit pricey here.

2011-03-03

BUY

Encana Corp

ECA-T

31.400

Gas exposure has caused it to lag a little. Natural gas is one of the few global commodities that has not gone anywhere. Over the next couple of years we will start to see an improvement in gas prices and that will be positive for them. This company has done a good job of hedging its gas production.

2011-03-03

BUY

Enbridge

ENB-T

58.350

Great dividend. Good yield. Has a record of increasing dividends. Company estimates an 8%-10% earnings growth in the next 5 years. Good stable company to have in your portfolio.

2011-03-03

BUY on WEAKNESS

Research In Motion

RIM-T

66.600

Was very impressed with Apple’s (APPL-Q) new iPad. RIM has not got their new Playbook out yet. Expect Apple to be a formidable competitor for the next couple of years. Would wait for a better buying opportunity, but if you own continue to Hold. Demand for these types of things is going to explode.

2011-03-03

BUY on WEAKNESS

59.920

Cdn banks are in a sweet spot on a global basis. May have a 2-3 year window where they are so financially strong compared to their global peers that they will be able to do mergers and take market share without a lot of risk. Well positioned and well managed.

2011-03-03

BUY

Saputo Inc.

SAP-T

41.310

Very strong Canadian franchise. Reasonable price relative to the earnings growth. There is a bit of food inflation, which is not that positive.

2011-03-03

TOP PICK

SNC-Lavalin Group Inc.

SNC-T

55.910

A play on global infrastructure. Stock is off more than 10% because of the Libyan situation where they have 3 projects. Even if those projects where to go to zero, it is only a $0.05 to $0.10% earnings hit. World class company and will continue to grow.

2011-03-03

PAST TOP PICK

45.500

(A Top Pick Nov 18/10. Up 32.52%.)Long term a fabulous company. Quite high because of oil prices. The other thing that is moving it is that Canada looks pretty good on a political stable basis. Wouldn’t be aggressive in Buying. Great way to play oil sands.

2011-03-03

PAST TOP PICK

Toronto Dominion

TD-T

83.600

(A Top Pick Nov 18/10. Up 9.32%.) Just reported earnings that were excellent and raised the dividend 8%. Likes their strategy of moving into the US. A 2 pronged approach. Discount brokerage and willing to take a lower position to get a better return. Branding through Bank North is everywhere and are taking market share.

2011-03-03

TOP PICK

Teck Resources Ltd. (B)

TCK.B-T

53.930

Have cleaned up their debt, extended terms and reduced interest costs. Diversified mining play so you are not betting on any one commodity. Great way to play the infrastructure demand that is going to continue. 1% yield.

2011-03-03

PAST TOP PICK

38.110

(A Top Pick Nov 18/10. Up 3.4%.) Very strong in electronic products. Earnings are great and they increased the dividends. Demand will continue to grow for information. Over 3% yield. Still likes.

2011-03-03

BUY

Trans Canada Corp

TRP-T

38.440

Just raised the dividend 5%, which shows they are confidant about earnings. Big issue will be what happens to Keystone. Waiting for approval, probably mid to late 2011. Very political. Likes the company.

2011-03-03

BUY

47.350

Well-managed company. Oil focused. Most appealing thing is the 6.3% dividend. You get exposure to the commodity price as well as the down side protection that a good yield provides.

2011-03-03

Comment

0.020

Market – The big wild card is the price of oil. If prices stayed at this level for the rest of 2011, it would take 1.2% off the US GDP, which is not good and they are very vulnerable. Globally, in the developed world, recovery is on but it is still fragile.

2011-03-03

BUY

Agrium

AGU-T

87.220

Falling fast and in a large part due to the same factors that are affecting oils and metals today. Also Mosaic announced more products going on the market. This one is a way to play the agricultural cycle because of its retail stores. Good for the medium and long term.

2011-01-20

PAST TOP PICK

Becton Dickinson

BDX-N

83.090

(A Top Pick Dec 31/09. Up 7.42%.)

2011-01-20

BUY

Bank of Montreal

BMO-T

59.290

Fell off more than 8% on the announcement of their US acquisition. Has been a bit of a laggard versus its peers. Offers reasonable value here.

2011-01-20

Comment

Canadian Natural Rsrcs

CNQ-T

42.040

The Horizon fire is a big thing on production. Has insurance that will cover up to about $2 billion. There are still 2 drums that look operational. Not great in the short term and will have to wait and see. Longer term a very well run company. Could be a Buying opportunity.

2011-01-20

PAST TOP PICK

Canadian National R.R.

CNR-T

67.380

(A Top Pick Dec 31/09. Up 20.33%.) Another way to participate in the emerging market growth.

2011-01-20

TOP PICK

Cisco

CSCO-Q

20.770

There has been out-performance by small and mid-cap stocks and large-caps are trading at a discount. This one has had 2 disappointing quarters yet the numbers continue to be attractive in terms of growth rate. Trading at well below market multiple. Still has earnings growth. Well managed.

2011-01-20

Comment

Encana Corp

ECA-T

31.820

Likes this one and the whole sector. Has done a great job in hedging their natural gas exposure with almost 1/3 hedged at $6US for 2011-2012. Sold some gas properties and are going to add some oil. Good way to diversify your oil/gas holdings.

2011-01-20

BUY

Goldcorp Inc

G-T

40.420

An excellent stock in the gold sector. Well operated. Has a substantial expansion going on and is opening 6 mines in the next 5 years with production going from 2.9 million ounces to 4 million..

2011-01-20

BUY

IBM

IBM-N

155.800

Very attractive right now. Just reported strong earnings on the service sector. Real recovery. Good international exposure.

2011-01-20

BUY

Manulife Financial

MFC-T

17.360

As we approached the financial crisis, most people would have thought insurance companies would be a much safer investment but Cdn banks turned out the place to be. New CEO has done a great job at reducing the leverage and the risk. Feels it is reasonable now and out of the woods but will be very dependent on the market.

2011-01-20

BUY

Proctor & Gamble

PG-N

65.800

Good international exposure and ability to participate in the emerging market growth.

2011-01-20

PAST TOP PICK

35.630

(A Top Pick Dec 31/09. Up 12.77%.) Thinks there are some challenges on the cable side. In the intermediate term it has under performed but is a leader.

2011-01-20

TOP PICK

54.020

Canada’s largest bank. Using its currency and relative strength for acquisitions. \Canadian banks have a 2 or 3 year window to take advantage of how well they are regarded. Expect to see a big resumption in dividend grow the in the next 2–3 years.

2011-01-20

BUY

SNC-Lavalin Group Inc.

SNC-T

61.220

Another way to play growth in emerging economies but also for commodities in North America. Operates in 35 countries and is a leader in infrastructure spending. Massive increase in their backlog in the last quarter.

2011-01-20

BUY on WEAKNESS

Teck Resources Ltd. (B)

TCK.B-T

60.270

Likes this for the medium to longer term but it will be very volatile. Has had a tremendous move. Recently announced that coal production will be down a little but should be offset because of weather conditions in Australia. Would take advantage of price dips.

2011-01-20

BUY

Talisman Energy

TLM-T

21.850

Has had a good move but still has some growth left particularly from some of their international exploration efforts in south east Asia. Also some better news out of the North Sea.

2011-01-20

TOP PICK

43.370

Good growth potential. Well managed with over 90% success rate in drilling. 17 years of drilling projects left. No exploration risks. Using unique technology. One knock is that they seem to issue a lot of stock but as they get bigger, cash flows grow and the need for cash declines. Yield of over 6%.

2011-01-20

Comment

Canadian Imperial Bank of Commerce

0.020

Some names for income? Expecting banks to start increasing dividends. Crescent Point (CPG-T) and Pengrowth (OGF-T) nave very good yields. Also the pipelines Enbridge (ENB-T) and Trans Canada (TRP-T) have good yields wit the potential of dividend increases. (See Top Picks.)

2011-01-20

Comment

Pengrowth Energy

PGF-T

13.050

In transition so you do have to have a 2 to 3 year horizon. New management is moving to a growth focus so the market is in a “wait and see” mode. Expects it will work out well but you will have to be patient.

2011-01-20

BUY on WEAKNESS

Cameco Corporation

CCO-T

35.730

Had a good run but is expensive. You are at risk of disappointments at Cigar Lake. Uranium is attractive longer term and the price is primarily driven by China.

2010-11-18

BUY

CM-T

78.100

Cdn banks have lagged. Expects there will be increases in bank dividends but not until well into 2011, except for Toronto Dominion (TD-T), which will be the first to go. This one is fine but would not be her Top 2 banks. (See Top Picks.)

2010-11-18

HOLD

Manulife Financial

MFC-T

15.690

Has been a major disappointment. In “no mans’ land” now and expects it to be a pretty big tax-loss candidate into year-end. Company is fine. If you don’t own, wait to see a little more reduction of their exposure.

2010-11-18

PAST TOP PICK

37.100

(A Top Pick Nov 26/09. Up 18.58%.) Still likes.

2010-11-18

PAST TOP PICK

Shoppers Drug Mart Corp

SC-T

37.350

(A Top Pick Nov 26/09. Down 12.37%.) Still likes. Could be disappointing for a short term horizon of 1 year or less but for a longer term it’s a good Buy here.

2010-11-18

TOP PICK

34.900

Best of class in oil sands. Likes to Buy when they are not the flavour of the day. On a medium term basis, expects oil to do well.

2010-11-18

TOP PICK

Toronto Dominion

TD-T

74.240

Thinks it will be the first of the big 5 to raise its dividend as it has the lowest payout ratio. Expects all the banks to earn sluggish type earnings, 6%-7% increases, but looking at 8%-10%. Likes their US strategy.

2010-11-18

PAST TOP PICK

Teva Pharmaceutical

TEVA-Q

50.530

(A Top Pick Nov 26/09. Down 3.11%.) Still likes.

2010-11-18

TOP PICK

37.000

Spectacular quarterly results. Looking at $1.85 in earnings per share increase in 2010 and probably $2.50 or higher in 2011 as the synergies from the Reuters acquisition rolls in. Good dividend.

2010-11-18

BUY

Trans Canada Corp

TRP-T

35.960

Attractive yield of 4.5% with a history of increasing. Targeting 8% growth over the next 5 years. Not sure that all their capital projects have been recognized in the market.

2010-11-18

Comment

40.640

Great fracturing technology that makes it one of the lowest costs in North America. Good yield. 99% success in the Bakken field last quarter. Not generating enough cash flow to fund their CapX and dividends. Expect there will be an equity issue over the next 12-18 months. With a medium to longer term time frame and can take some volatility you could Buy here.

2010-11-18

BUY

0.020

Cdn banks. An opportune time to move into them. Not looking for dividend increases from the big 5 until later in 2011 with the exception of Toronto Dominion (TD-T), which might go a bit earlier. Good dividend yields. (See Top Picks.)

2010-11-18

Comment