STOCKCHASE

64.540

(A Top Pick Feb 18/10. Down 12.77%.) Good value and he sees good upside growth. Market is not properly valuing the international growth that they have been putting up. Focused too much on the US where it has struggled more. The cash flow supports a much higher valuation.

2011-02-15

TOP PICK

Shoppers Drug Mart Corp

SC-T

40.870

A contrarian move. Feels there is nothing but upside after the court ruling and the resignation of the CEO.

2011-02-15

TOP PICK

Suncor Energy Inc

SU-T

41.870

Good long-life assets and good projects. Likes management.

2011-02-15

BUY

Brookfield Asset Management (A)

0.020

Suggestions for dividend stocks? Cdn bank shares still look attractive long term. Expecting dividend growth and there will be increases some time this year. Also some of the telecom stocks, such as Manitoba Tel (MBT-T) still look reasonable. Bonavista (BNP-T) is an oil/gas stock that has a very nice distribution.

2011-02-15

PAST TOP PICK

BAM.A-T

32.000

(A Top Pick Feb 18/10. Up 37.04%.) Still loves. Great management. Long term hold.

2011-02-15

Comment

Thompson Creek Metals

TCM-T

14.000

Was one of the high fliers but feels valuation catching up to reality. Longer term not a bad investment.

2011-02-15

BUY

Aecon Group Inc

ARE-T

10.120

Reasonable long-term because if there is no economic growth, there will be another stimulus package. Oil prices are back to a level where construction projects are starting to line up again for the oil sands.

2010-07-05

Comment

Valeant Pharmaceuticals

VRX-T

20.070

It already has moved on the takeover. Would wait to see how these 2 companies worked out but long-term this is an interesting company.

2010-07-05

DON'T BUY

Cameco Corporation

CCO-T

21.810

This is a challenging one and he is never sure what to do with his holdings. Probably a stock that will remain challenged. There is a lot of talk about increasing the reactor fleet but that takes a long time.

2010-07-05

DON'T BUY

Canfor Corp

CFP-T

8.070

People are worried about the sustainability of the dividend given that the housing market is slowing down again. If you can take a little bit of risk, you could buy it but he thinks there are better opportunities elsewhere.

2010-07-05

BUY

Canadian Imperial Bank of Commerce

CM-T

65.910

Cheapest of the banks. Hasn't owned this one in years. Prefers the strategies of Royal (RY-T), TD (TD-T) and Scotia (BNS-T) but this bank seems to be trying to turn itself around. If a long-term investor and reasonably optimistic about the markets for the next 3-5 years, this one makes a lot of sense.

2010-07-05

BUY

Canadian Natural Rsrcs

CNQ-T

34.010

Really good at execution. Brought Horizon in on time and on budget. Excellent management. If you are a long-term investor and interested in the oil play, this is a good stock to own.

2010-07-05

BUY

Encana Corp

ECA-T

32.000

If you like natural gas, this is a very good investment. Very broad production base. Not the lowest cost producer, but certainly a low cost producer. They'll be able to weather short-term downturns and will probably give you long-term growth.

2010-07-05

DON'T BUY

AuRico Gold Inc

AUQ-T

5.540

There are better resource bases out there that you could invest in.

2010-07-05

DON'T BUY

Claymore Natural Gas Commodity ETF

GAS-T

3.590

For most people, he is not sure that speculating on the commodity is the best way to go. Natural gas prices are very unpredictable. Because of shale gas is not sure there will be much of an increase in gas prices.

2010-07-05

HOLD

Husky Energy

HSE-T

25.330

Long-term and interesting company. New leadership. Would hang on to see what the new management is going to do. Not a bad holding for conservative investor.

2010-07-05

PAST TOP PICK

Iamgold Corp

IMG-T

17.500

(A Top Pick Oct 22/09. Up 20%.) Little more growth than the average gold company. Once they get a CEO, growth should start again. Reasonable valuation compared to its peers.

2010-07-05

BUY

Manulife Financial

MFC-T

15.260

In the short-term, as the market goes down people worry about the guarantees on index portfolios. Stock is now trading below Book. Tremendous franchise with lots of international growth. If you are a long-term investor and can take the volatility it is a great buy at this price. If the market keeps going down, this will follow.

2010-07-05

TOP PICK

Rogers Communcations (B)

RCI.B-T

34.200

Stock stalled out because people were concerned about new entrants but new entrants are at the low end and this market is at the high end. Good cash flow.

2010-07-05

TOP PICK

Crescent Point Energy Corp

51.690

(A Top Pick Oct 22/09. Down 24%.) Stock getting cheaper even though they are still growing. Sold over 10 million phones last quarter. Ridiculously cheap at 10X earnings. Huge cash generator. Solid management.

2010-07-05

BUY

Royal Bank

RY-T

51.150

You have to remember that while they had great earnings, a lot of this was coming from trading revenues. Much more reasonable pricing now for a long-term investor.

2010-07-05

TOP PICK

Shoppers Drug Mart Corp

SC-T

32.700

Good for long-term investors. Could go lower because other provinces could follow Ontario’s suit on generics. Good management.

2010-07-05

HOLD

Viterra Inc

VT-T

7.010

A tough one to call. Thinks it will still work out long-term. Diversifying into Australia makes sense for them. Agriculture commodities long-term are a huge growth industry.

2010-07-05

PAST TOP PICK

Toromont Industries

TIH-T

23.000

(A Top Pick Oct 22/09. Down 6%.) Good long-term hold. Great management. Challenged in the short term by a slowdown in the oil/gas industry.

2010-07-05

BUY

Talisman Energy

TLM-T

15.800

In good areas including shale plays and have international growth. Have a lot of land positions in Quebec. Starting to re-focus and worrying more about return on capital. Cheap.

2010-07-05

BUY

Telus Corp

T-T

40.200

Cheap. Still have quite a bit of leverage on. Expects some very good growth on their wireless business but questions declines they will have on their wire lines but expect wireless to out do this. At the current valuation with a current yield, this stock makes a lot of sense.

2010-07-05

BUY

Yellow Media Inc

YLO-T

5.760

Won't be a lot of growth of this story but reasonable to buy at this price if you are more interested in yield. 11% yield.

2010-07-05

BUY

CPG-T

35.950

Good management. High-quality stock. Excellent assets. Could go lower but you could buy more at this price.

2010-07-05

BUY on WEAKNESS

Western Canadian Coal Corp.

WTN-T (Dead)

3.650

Will probably be under pressure until the Chinese PMI turns around. Long-term, coal stocks are probably good investments.

2010-07-05

Comment

HBP NYMEX Nat'l Gas Bull+

0.020

Cdn$ versus US$? Longer-term, he likes the prospects for the Cdn$. Big revaluation has been done. Will continue to see relative strength as long as commodities stay strong and Canadian economy shows relative out performance to the US economy.

2010-07-05

Comment

Quadra FNX Mining Ltd

QUX-T

9.050

Have to be bullish on copper, which he is for the long-term. Reasonable thing to invest in for the long term.

2010-07-05

DON'T BUY

HNU-T

6.670

For most people, he is not sure that speculating on natural gas is the best way to go. Natural gas prices are very unpredictable. Because of shale gas is not sure there will be much of an increase in gas prices.

2010-07-05

TOP PICK

CGI Group (A)

GIB.A-T

14.700

Outsourcing infrastructure is a way for companies to cut costs. They have been steadily growing in the US. It’s a sleep-at-night stock. They have long life contracts and can survive market volatility. The biggest risk is that the stock will be lumpy.

2010-02-18

WEAK BUY

Home Capital Group

HCG-T

43.500

Interesting company, very well managed. An interesting part of the market. Their clients are not as risky as you would think. For a long-term investor, it is a good investment.

2010-02-18

BUY

Laurentian Bank

LB-T

40.000

Thinks banks can maintain their spreads in a raising interest rate environment. Much more regional than some of the majors so the market takes that into account and it trades at a discount. Was impressed with management when he met with them. You could see some healthy growth out of them.

2010-02-18

TOP PICK

SXC Health Solutions Corp.

74.340

Based on Valuation, this is preferred over Apple. They will catch up with the browser. Huge install base. Very good device. Management is excellent. Risk/returns make a lot of sense here. Rim is cheaper than Apple (earnings to growth). He buys it in the 60’s.

2010-02-18

PAST TOP PICK

Stantec Inc

STN-T

26.920

(Top Pick Mar 23/09, Up 25.23%)

2010-02-18

PAST TOP PICK

SXC-T

50.670

(Top Pick Mar 23/09, Up 90.34%) Took some profits.

2010-02-18

BUY

Thomson Reuters Corp

TRI-T

36.890

Now is the time to own this stock because they have done their acquisitions and you are getting the synergy on all of the work they have done. Healthy dividend.

2010-02-18

PAST TOP PICK

TSX Group

X-T

29.930

(Top Pick Mar 23/09, Down 10.99%)

2010-02-18

WEAK BUY

Zarlink

ZL-T (Dead)

1.790

Finally delivered profit after a long downslide. Not sure if their parts sales can be sustainable for the long term. It looks like a one-quarter event. High-risk business.

2010-02-18

SELL

Grande Cache Coal Corp.

GCE-T

6.420

Lock in some profits by selling half or your cost. It’s going to be a volatile ride.

2010-02-18

N/A

Brookfield Asset Management (A)

0.020

Nice rebound because there is a little more certainty about the financial system around the world. No huge returns on the markets in the short term. Question is whether with the stimulus off, will there be growth. We’ll end up with a positive return, but not sure if it will be a huge return. Thinks Greece, Portugal or whoever needs it will be bailed out by the EU. Lots of staples and healthcare in his portfolio. Is selling some stocks with a full valuation.

2010-02-18

BUY

Atrium Innovations.

ATB-T

15.600

Food supplements, health care supplements. Has grown quite a bit, through acquisition. Be careful that the rules don’t change on supplements.

2010-02-18

DON'T BUY

Bell Aliant

BA-T

25.940

Would prefer BCE vs. BA because he is looking for growth, not income.

2010-02-18

TOP PICK

BAM.A-T

23.940

For long-term investor, these guys have a lot of opportunities in front of them – real estate as well as infrastructure. They will probably continue to be in distressed real estate.

2010-02-18

SPECULATIVE BUY

Pacific Rubiales Energy Corp.

PRE-T

16.440

Not a particularly cheap stock. The information flow on this stock is going to be lumpy. These guys are elephant hunting if you want to speculate.

2010-02-18

BUY

DragonWave Inc.

DWI-T

13.600

Great story. A bit expensive here. These guys are at the right place at the right time for long-term investors.

2010-02-18

HOLD

Aastra Technologies

AAH-T

31.780

Much of the money for build out of infrastructure is still to come.

2009-10-21

BUY

Agrium

AGU-T

58.340

You should hope the bid for CF fails. The risk is that the company overpays. You are bottoming out in the fertilizer cycle. It is a good story and demand around the world will expand. It’s a 3-5 year play. He owns POT. He’s gone for the thing that it is harder to produce more of.

2009-10-21

BUY

Canadian Western Bank

CWB-T

22.380

A very well run company. Sold it from HIS fund last year because of worry about interest margin compression, but that’s come and gone. They have a terrific management team. Grows conservatively and responsively and can expand across the country if they choose to. Hold it 2-5 years.

2009-10-21

TOP PICK

Iamgold Corp

IMG-T

14.660

Good Production growth. Starting to diversify away from Africa. As they do that the valuation should come up due to safer geography and increased production. Risks are political and there are always operations risks.

2009-10-21

DON'T BUY

Loblaw Companies Ltd

L-T

30.800

Likes it as a company but not as a stock because of valuation. It is a turnaround company and market is making you pay for part of that. Prefers MRU.A where you don’t have the operations problems to be resolved.

2009-10-21

BUY

Manulife Financial

MFC-T

21.800

Building up their reserves. They got hit over the last market cycle. We’re through the worst of it. As people retire they will want more of their guaranteed products. They are growing internationally. He would buy after their next quarter because they are redoing some of their assumptions, then he would be a buyer long term.

2009-10-21

BUY

Potash Corp of Saskatchewan

POT-T

107.300

He’s gone for the thing that it is harder to produce more of.

2009-10-21

BUY

Rogers Communcations (B)

RCI.B-T

28.750

Looks very reasonable in terms of valuation and best growth rate of any of the Telco’s.

2009-10-21

TOP PICK

SXC Health Solutions Corp.

68.780

People worried that growth is coming to an end. Opportunity to buy the company at a substantial discount. Has held 3 or 4 years and recently added to position. As for competition the smart phone market is growing so fast that everyone can be successful.

2009-10-21

PAST TOP PICK

Stantec Inc

STN-T

26.400

(Top Pick Mar 23/09 Up 21.57%) Still likes and holds it.

2009-10-21

PAST TOP PICK

SXC-T

50.160

(Top Pick Mar 23/09 Up 100.8%) Took some profits. Likes it long term, but it’s getting a little pricey

2009-10-21

TOP PICK

Toromont Industries

TIH-T

24.770

Loves the management team, has held it for a number of years. There is lots of growth in this market given the infrastructure required in oil and gas. As you build out infrastructure to transport natural gas, you need compression units and that’s where the growth is. Risk is the price of Nat Gas and economic activity – if stimulus’s don’t continue

2009-10-21

BUY

Talisman Energy

TLM-T

19.710

Thinks it is a cheap stock. Change of management and new one is putting ‘stamp’ on the company. They are defining their areas of growth and putting together their North America and Global strategy. Have some wonderful assets in the far east. It’s been undervalued since he has owned.

2009-10-21

PAST TOP PICK

TSX Group

X-T

33.550

(Top Pick Mar 23/09 Up .03%) Still likes and holds it.

2009-10-21

BUY

Opti Canada Inc.

OPC-T (Dead)

2.570

It’s a long-term project and there is a lot to be learned. He went for Nexen, the other side of the partnership, because there’s more cash flow support. OPC is an excellent long-term opportunity. Technology they bring to the table is great and maybe they would be a take-out target.

2009-10-21

N/A

SXC Health Solutions Corp.

0.020

He uses a GARP style. Opportunities are a bit everywhere. Resource sector will continue to do well as long as growth in Asia continues, especially in the midcap area. In the financial services as people near the retirement age. In tech you have to may attention to RIM- the smart phone market is growing so fast that everyone can be successful.

2009-10-21

BUY

LuLulemon Athletica

LLL-T

26.200

Seem to have products that people want. Would have guessed that sales would have been down but he was wrong. Sales will probably be very good this holiday. Risk is brand exhaustion but they are nowhere near that. It’s not a cheap stock.

2009-10-21

BUY

Agrium

AGU-T

47.270

Nitrogen prices have been firming up and are one of the first agricultural commodities to move to the more positive side. Expecting core production will be big. If you don't mind volatility, a good long-term hold.

2009-03-23

BUY

BCE Inc.

BCE-T

23.350

Good yield which is supported by good cash flow. Phone services are probably the last thing that people turn off, even if things go very badly for them economically. Good management.

2009-03-23

BUY

Encana Corp

ECA-T

55.500

A stock that will probably move a little less in this market because of large exposure to natural gas. You probably have to wait for the next heating season for recovery. Gas storage is at all-time highs. It will correct because drilling activity has fallen off a cliff. Great long-term holding with really good long life assets.

2009-03-23

BUY

Husky Energy

HSE-T

27.740

If you want to play oil in a conservative way, this is a great way to do it. A little less torque to the oil price but obviously a very good operator with good assets. They are starting to get returns from their assets.

2009-03-23

Comment

Manulife Financial

MFC-T

16.260

Good business and good company but is really a call on the stock market. Beaten down because of the large percentage of business in variable annuity and guaranteed products, which they had not hedged. Makes them completely exposed to the markets because when the market goes down they have to make provisions against the eventuality they may have to make good on these. Also have the highest potential of life insurance companies as markets recover.

2009-03-23

BUY

SNC-Lavalin Group Inc.

SNC-T

32.600

Has been beaten up in a big way. Very good company. Big in infrastructure development. There are a lot of businesses they can pick up in the long haul. Will be volatile. (See Top Picks.)

2009-03-23

TOP PICK

Stantec Inc

STN-T

21.840

Engineering. Will be a beneficiary of infrastructure spending, particularly at the municipal level. Well managed and have been very disciplined in the acquisitions they have made.

2009-03-23

BUY

Suncor Energy Inc

SU-T

30.740

Trying to acquire Petro-Can (PCA-T), which would be a very good deal for them. Strong management should be able to get good returns from this asset.

2009-03-23

TOP PICK

SXC-T

26.400

Basically do the software and provide services that allow pharmacy benefit companies to manage healthcare benefits. Everyone is trying to control costs and this company provides a solution.

2009-03-23

BUY

Toronto Dominion

TD-T

45.500

For the long-term, a really well managed business. Retail banking is probably going to be the surviving, most profitable business for all banks. Challenge in 2009 will be unloading some of the liabilities that may be in some of the books in their US acquisitions and if they can unload them. He has confidence in the management.

2009-03-23

DON'T BUY

Teck Resources Ltd. (B)

TCK.B-T

6.640

20% stake in the Fort Hills project. You have to know if the possible merged company of Petro-Can (PCA-T) and Suncor (SU-T) will go ahead with the Fort Hills project or not. Have a high debt level with a lot needing to be refinanced fairly soon. There is a lot of risk here.

2009-03-23

TOP PICK

TSX Group

X-T

34.970

Merger of the Toronto Stock Exchange and the Montreal Exchange still has a lot of synergies to be realized. Very good dividend that is safe. Have a lot of cash and cash flow is very good. If this is a new bull market you will get a lot of new listings and increased volumes.

2009-03-23

DON'T BUY

Potash One Inc.

KCL-T (Dead)

1.480

A buyout prospect if you are bullish on potash pricing. In the short term, the stock will probably move sideways. Would invest in Potash (POT-T) instead.

2009-03-23

DON'T BUY

Agrium

AGU-T

26.550

You have to be bullish on fertilisers for the long-term. As a long-term investor, he prefers Potash (POT-T) as potash is a scarcer resource than nitrogen.

2006-09-01

WEAK BUY

Alcan Aluminum

AL-T (Dead)

50.350

Have good businesses, but have never earned the returns on them that he would have expected. Have things underway to improve profitability which he thinks will work. The own some very valuable assets such as aluminum smelters with power contracts. May come under a bit of pressure in the short-term.

2006-09-01

BUY

Angiotech Pharmaceuticals

ANP-T (Dead)

13.350

Has come under a bit of pressure which now seems to be easing. Their main business is drug coated stents which they get royalties on. Recently made an acquisition and some of the synergies are now going to start working their way through.

2006-09-01

DON'T BUY

ATS Automation

ATA-T

13.340

Issuing an IPO on their Photowatt company and the stock took a jump on this news. However, the automation side of the business will continue to be under pressure.

2006-09-01

BUY

Bank of Nova Scotia

BNS-T

47.440

Their international strategy is really starting to come through. Their last earnings statement shows they are making good money off this.

2006-09-01

WAIT

Breakwater Resources

BWR-T (Dead)

1.300

His view on materials is that it is time to wait because a slowing US economy will give you a better entry opportunity. Doesn't think it's the end of the cycle, but you will get a better chance later on.

2006-09-01

PAST TOP PICK

Canadian National R.R.

CNR-T

47.550

(A Top Pick Aug 2/05. Up 17.2%.) Best example of a great, well-managed business. Even though the business is cyclical, you can own it right through the cycles.

2006-09-01

BUY

Canadian Oil Sands

COS-T

34.440

A great vehicle for investing in the oil sands. Expect there will be consolidation in the oil sands down the road. In the short term, it is really going to be a call on the price of oil. It you're a 3/5-year investor, it's a very interesting investment.

2006-09-01

TOP PICK

CVS Corp.

CVS-N

33.960

Became interested when they bought the other side of Ekerds. Had a very positive experience. Very aggressive in rebranding them and have had tremendous earnings growth off of that. Growth through acquisitions as well as internal growth.

2006-09-01

HOLD

Encana Corp

ECA-T

58.850

Investors are awaiting foreign news on the oil sands. Heavily gas levered is helping to keep the price up. Well-managed company.

2006-09-01

BUY

Eldorado Gold

ELD-T

5.390

Lots of opportunity for growth. Have a couple of very interesting projects. Good exploration and a bit of production.

2006-09-01

WEAK BUY

Enbridge

ENB-T

36.540

Trading at a P/E multiple above its historic range. Good company, but not cheap.

2006-09-01

DON'T BUY

Goldcorp Inc

G-T

30.260

Merging with Glamis Gold (GLG-T) which makes a lot of sense but is pretty expensive. If you like this company, probably not a bad time to get in as arbitragers are pushing down the price while driving up the price of Glamis. As the deal is consummated, pressure should ease. However, there are better opportunities out there.

2006-09-01

TOP PICK

Metro Inc (A)

MRU-T

31.100

Earnings growth has been 12/13% over the last 5 years. P/E of 13 X forward earnings. Well-managed.

2006-09-01

BUY

Petro-Canada

PCA-T

48.250

One of the cheaper integrateds. A perennial underdog. Not a bad time to buy. Valuation is reasonable. There is a lot of growth ahead.

2006-09-01

BUY