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| Michael Decter of Lawrence Decter Investment Counsel |
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| TOP PICK | Brookfield Properties | BPO-T | 12.900 | A sustainable 4.5% dividend yield. Built up a war chest of about $1.4 billion as they are anticipating some really good US properties coming on the market. Extraordinarily well managed. | 2010-01-25 | ||
| TOP PICK | Crescent Point Energy Corp | CPG-T | 39.050 | Strongest management team in the oil patch. Sitting on top of 2 of the biggest pools, the lower Shawnason (?) and the Bakken, probably 4 billion barrels each. Have done a brilliant job of drilling and getting their costs down. At about 56,000 barrels a day now and when they get it to 100,000 plus, probably a major will take them out. | 2010-01-25 | ||
| TOP PICK | Precision Drilling Corp. | PD.UN-T | 9.190 | Oil patch is coming back and natural gas prices are strengthening so the well drilling business is on its way back. Have great financing. Has another huge leg up in it. | 2010-01-25 | ||
| PAST TOP PICK | Armtec Infrastructure Income Fund | ARF.UN-T | 24.380 | (A Top Pick Jan 28/09. Up 42.8%.) Has added to his holdings. | 2010-01-25 | ||
| PAST TOP PICK | Just Energy Income Fund | JE.UN-T | 13.940 | (A Top Pick Jan 28/09. Up 64.73%.) Has added to his holdings. Outstanding management and a great company. | 2010-01-25 | ||
| PAST TOP PICK | New Flyer Industries Inc. | NFI.UN-T | 10.400 | (A Top Pick Jan 28/09. Up 12.71%.) Reduced his holdings but at this point, would be a cautious buyer. | 2010-01-25 | ||
| HOLD | Artis Real Estate Investment Trust | AX.UN-T | 11.350 | Had a good rebound. Would be a little nervous about buying at these levels but would continue to hold. | 2010-01-25 | ||
| SELL | Provident Energy Trust | PVE.UN-T | 8.440 | Has had a very good run. If you own, consider a switch to some combination of Crescent Point (CPG-T) and Daylight (DAY.UN-T), otherwise it's a Hold. (See Top Picks.) | 2010-01-25 | ||
| BUY | Labrador Iron Mines Holdings Ltd. | LIM-T | 27.430 | The big picture is that China needs a lot of iron ore and paying very good prices for it and demand looks huge in foreseeable future. Prefers Consolidated Thompson (CLM-T). | 2010-01-25 | ||
| HOLD | Bank of Montreal | BMO-T | 52.650 | Thinks dividend is safe and doesn't see any Canadian banks cutting dividends. Canadian banks have had a huge run and are probably in a bit of a holding pattern for a couple of quarters. | 2010-01-25 | ||
| BUY | Calloway REIT | CWT.UN-T | 19.760 | Distributing 100% of their cash flow but thinks they will sustain the distribution. Expects it to continue as a REIT rather than converting. Solid, long-term holding. | 2010-01-25 | ||
| BUY on WEAKNESS | Altagas Services | ALA.UN-T | 18.550 | Reasonable buy. Good yield. Probably $2 billion of growth projects over the next 5 years. Will probably trim distributions a little when they convert but won't be a huge slashing, maybe 15%-20%. That could be a good buying opportunity. | 2010-01-25 | ||
| BUY | Liquor Stores Income Fund | LIQ.UN-T | 15.700 | Mostly Alberta but acquired a chain of Liquor Barn stores in Kentucky. Think they will do further acquisitions. Good at the business and have $30 million more for acquisitions. Growth situation. High payout but capable of sustaining good yield after conversion. | 2010-01-25 | ||
| DON'T BUY | Kinross Gold | K-T | 18.380 | Not his favourite gold stock. Partly because they are not growing their production and partly because of their Russian exposure. | 2010-01-25 | ||
| Comment | Inmet Mining | IMN-T | 57.010 | Volatility is a result of views on metal prices as well as issues on some of their mines and when they may come into full production. If you are buying, look for dips. Prefers Hudbay (HBM-T), which is better value with over $5 a share in cash as well as a new copper/gold mine. | 2010-01-25 | ||
| BUY | Hudbay Minerals Inc. | HBM-T | 13.090 | Value stock with over $5 a share in cash as well as a new copper/gold mine. | 2010-01-25 | ||
| BUY | Encana Corp | ECA-T | 34.370 | This is one way to play resurgence in gas prices. A very big and strong player in natural gas. He is playing it more through Daylight (DAY.UN-T), which has both gas and oil. Probably a decent time to get some gas exposure. | 2010-01-25 | ||
| BUY | Keyera Facilities Income Fund | KEY.UN-T | 24.890 | Extremely well managed and should continue to deliver good results. If looking for good, solid income in pipeline and midstream gathering space, this one and Inter Pipeline (IPL.UN-T) would be his top 2 picks. 7% distribution should be safe. | 2010-01-25 | ||
| BUY | Bird Construction Income Fund | BDT.UN-T | 34.000 | Very strong, conservative balance sheet. Believes the stimulus is only now starting to translate into real contracts in Canada. Still room to grow. 5.25% yield is easily sustainable. | 2009-11-11 | ||
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| BUY | Daylight Energy Trust | DAY.UN-T | 9.460 | Very positive on this. Could run up to $12-$13 over the next 12-18 months. Yield is sustainable. | 2009-11-11 | ||
| DON'T BUY | Bombardier Inc (B) | BBD.B-T | 4.590 | Doing great on the train side including a huge order from China but margins are not great. The plane side is troubled now because of the downturn and longer-term they will be challenged because of Chinese manufacturing of planes. | 2009-11-11 | ||
| HOLD | Liquor Stores Income Fund | LIQ.UN-T | 15.400 | Made a US acquisition and would like to see how that works out before buying more. Long-term hold with some growth. | 2009-11-11 | ||
| BUY | Silver Wheaton | SLW-T | 16.000 | Silver is not keeping up with gold and tends to lag gold on the way up but more than all paces on the way down. | 2009-11-11 | ||
| BUY | SNS Silver Corp. | SNS-X | 0.175 | Silver and lead. Silver is not keeping up with gold and tends to lag gold on the way up but more than all paces on the way down. | 2009-11-11 | ||
| Comment | CML Healthcare Income Fund | CLC.UN-T | 13.750 | Trimmed holdings but still keeping it in income accounts. 7.79% distribution should be safe. Medical tests will grow with aging population but government has put a cap on the amount they will pay. Good income but moderate growth. | 2009-11-11 | ||
| BUY on WEAKNESS | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Canadian banks. Have had a huge run and expects they will trade in a range for a bit. Will probably experience some losses on their loan portfolios but long-term the banks are phenomenal. | 2009-11-11 | ||
| TOP PICK | Penn West Energy Trust | PWT.UN-T | 18.470 | Have struggled with some issues but thinks they are getting these solved. Distribution is sustainable so the stock is undervalued. | 2009-11-11 | ||
| TOP PICK | Churchill Corporation (The) | CUQ-T | 20.000 | Has $9 in cash and no debt. Incredibly strong balance sheet. Acquired a large oil sands contractor and thinks the oil sands are going to start to come back. | 2009-11-11 | ||
| TOP PICK | Precision Drilling Corp. | PD.UN-T | 7.300 | Very large premium drilling company. Thinks the bottom in drilling is now past. | 2009-11-11 | ||
| PAST TOP PICK | Inter Pipeline Fund | IPL.UN-T | 10.600 | (A Top Pick Nov 7/08. Up 42.95%.) Still a buy. | 2009-11-11 | ||
| PAST TOP PICK | Viterra Inc | VT-T | 10.660 | (A Top Pick Nov 7/08. Up 25.33%.) Sold this in July. | 2009-11-11 | ||
| PAST TOP PICK | Pembina Pipeline Income Trust | PIF.UN-T | 15.780 | (A Top Pick Nov 7/08. Up 10.45%.) Trimmed a little. Hold. | 2009-11-11 | ||
| BUY on WEAKNESS | Crescent Point Energy Corp | CPG-T | 34.990 | His favourite energy holding. Since converting from a trust there are no longer any restraints on growth. Dominant player in the Bakken in southern Saskatchewan, which is the best light oil field. Skilled management. Will probably get taken out by one of the majors. Yield of 7.89%. Try to get in at $32-$33 but this price is still OK. | 2009-07-20 | ||
| BUY | Brookfield Properties | BPO-T | 9.230 | Very strong balance sheet. Turmoil in commercial real estate is actually a buying opportunity for them. Great long-term value. Strong management. | 2009-07-20 | ||
| BUY | Petrobank Energy and Resources | PBG-T | 34.550 | Terrific technology for the oil sands. Also have a play in the Bakken fields. Well managed. | 2009-07-20 | ||
| BUY | Bird Construction Income Fund | BDT.UN-T | 24.330 | Very conservative balance sheet and they like to have a lot of cash. Well positioned for the eventual impact of the Canadian stimulus. Solid company. | 2009-07-20 | ||
| BUY | Potash Corp of Saskatchewan | POT-T | 101.360 | Around $100 it's a good buy. If the last contract price of $460 becomes standard there may not be a huge movement for a while. If you have sales higher than this and an increase in demand, this could have a nice 20%-30% run. Very volatile. If it runs up quickly, consider taking some money off the table. | 2009-07-20 | ||
| BUY on WEAKNESS | Alliance GrainTraders Inc. | AGT-T | 20.050 | Raised $100 million at 16.5% and those units won't land in people's accounts until Wednesday-Thursday. Acquiring a Turkish group, which is a very good buy. Would be worried about chasing it into the $20's. Try to buy at $18.50. | 2009-07-20 | ||
| DON'T BUY | Bank of Nova Scotia | BNS-T | 43.150 | Had been his favourite because of less exposure to the US than other banks. However, Mexico is going to be hit pretty hard and the Caribbean area will have fewer tourists. | 2009-07-20 | ||
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| TOP PICK | Hudbay Minerals Inc. | HBM-T | 8.040 | Has $800 million cash, which is virtually the share price. You also get a bunch of mines thrown in. Thinks the management team and the board are now strong and sensible. Have 2 new mines coming on in northern Manitoba, which look good. Closing the copper smelter so the environment overhang and $150 million to modernize it will not be a factor. | 2009-07-20 | ||
| TOP PICK | Consolidated Thompson Iron Mines Ltd. | CLM-T | 3.780 | New iron ore producer in northeastern Quebec. Chinese put some serious money into it. Building a mine, port and rail. Thinks steel prices are going back up. | 2009-07-20 | ||
| TOP PICK | Russel Metals | RUS-T | 15.430 | Well managed company and pays a good dividend. Very cyclical and he thinks we are coming back to the point in the cycle where the car plants are starting up again and construction will get some stimulus. | 2009-07-20 | ||
| PAST TOP PICK | Vermilion Energy Trust | VET.UN-T | 29.030 | (A Top Pick Aug 18/08. Down 21%.) Still likes. | 2009-07-20 | ||
| PAST TOP PICK | Inter Pipeline Fund | IPL.UN-T | 9.150 | (A Top Pick Aug 18/08. 5.8%.) Still likes. | 2009-07-20 | ||
| PAST TOP PICK | TSX Group | X-T | 34.900 | (A Top Pick Aug 18/08. Up 1.6%.) Sold his holdings at $32 for a loss of 6.8%. Too much competition coming. | 2009-07-20 | ||
| WAIT | General Electric | GE-N | 13.150 | Sees this one higher in a year. The big minus is their finance unit. A 2nd smaller minus his aircraft engines. Big plus is that it is probably the best managed manufacturer globally. Also moved a lot of production to China and brought costs down. When he is ready to buy US, this is at the top of his list. | 2009-06-15 | ||
| BUY | Talisman Energy | TLM-T | 16.900 | Likes this, but prefers Crescent Point (CPG.UN-T) and Vermilion (VET.UN-T) energy trusts. Very good company and has room to appreciate in value. | 2009-06-15 | ||
| BUY | Yellow Pages Income Fund | YLO.UN-T | 5.500 | Thinks 14.5% distributions are sustainable at the current level. Not at the top of his buy list but there is solid value at this level. | 2009-06-15 | ||
| BUY | Canadian Apartment Properties | CAR.UN-T | 13.490 | Canadian Apartment Properties (CAR.UN-T) and/or Boardwalk REITs (BEI.UN-T)? Thinks you get the same valuation in REITs as you would in the property market with a lot less work. He would buy either one of these or both. | 2009-06-15 | ||
| BUY | Boardwalk REIT | BEI.UN-T | 32.200 | Canadian Apartment Properties (CAR.UN-T) and/or Boardwalk REITs (BEI.UN-T)? Thinks you get the same valuation in REITs as you would in the property market with a lot less work. He would buy either one of these or both. | 2009-06-15 | ||
| PARTIAL SELL | Research In Motion | RIM-T | 90.900 | Caller bought at $40. Sell? Demonstrably a great company but great companies sometimes get ahead of themselves in the stock price. He would sell half of it and try to buy it back a little lower. Will trade in a range and $90's will be at the high end. | 2009-06-15 | ||
| BUY | Fairfax Financial | FFH-T | 284.010 | This was a wonderful play on the downturn. CEO did a brilliant job positioning it to benefit from the market meltdown. Now he has gone the other way i.e., from being short to being long and is making some big bets. If you can get this under $300 and you are patient, you will do very well. | 2009-06-15 | ||
| BUY | Brookfield Asset Management (A) | BAM.A-T | 19.610 | Brookfield Asset Management (BAM.A-T) versus Brookfield Properties (BPO-T)? Likes both of them a lot. Owns more of Brookfield Asset Management and loves their hydroelectric generating assets. Brookfield Properties has a terrific balance sheet. They are really positioned to go in and be vulture investors and by some big valuable distressed properties at good prices. | 2009-06-15 | ||
| BUY | Brookfield Properties | BPO-T | 9.030 | Brookfield Asset Management (BAM.A-T) versus Brookfield Properties (BPO-T)? Likes both of them a lot. Owns more of Brookfield Asset Management and loves their hydroelectric generating assets. Brookfield Properties has a terrific balance sheet. They are really positioned to go in and be vulture investors and by some big valuable distressed properties at good prices. | 2009-06-15 | ||
| BUY on WEAKNESS | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Canadian Banks: A little ahead of themselves as he believes the next 2 quarters they will take some losses on their credit card books and some of their loan books. This will probably cause them to pull back a little. Try to get them 10%-15% below where they are now. | 2009-06-15 | ||
| BUY on WEAKNESS | Liquor Stores Income Fund | LIQ.UN-T | 14.600 | Well managed trust. Feels distributions are sustainable. Have lots of room to grow in Western Canada. A keeper for the long haul. Would probably wait for a down day before buying but this price is okay. | 2009-06-15 | ||
| TOP PICK | Enbridge | ENB-T | 39.500 | Pipelines. Have a really big bag of very good projects to pursue. No doubt that a lot of oil is going to move from Western Canada to the US and China. Think they will grow 10%-15% per year and also tend to increase their dividends. 3.75% yield. Great growth story. | 2009-06-15 | ||
| TOP PICK | Labrador Iron Ore | LIF.UN-T | 34.020 | Likes what is happening in terms of Chinese demand for iron ore. Iron ore companies are going to do very well. No debt. 5.88% yield. | 2009-06-15 | ||
| TOP PICK | Teck Resources Ltd. (B) | TCK.B-T | 19.400 | Had a near-death experience when it acquired Fording Coal. Took on a vast amount of debt. Has some good growth. Zinc prices are high. Feels the coal price is going to re-strengthen and they're going to sell off 20% of it for a very good price. Remaining debt is in US$ so they drop in that will be very helpful to their balance sheet. | 2009-06-15 | ||
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| TOP PICK | Bird Construction Income Fund | BDT.UN-T | 20.500 | Infrastructure Play. Conservatively managed, low payout ratio. Only risk is if the backlog falters or they don’t do well competitively. | 2009-03-24 | ||
| TOP PICK | Brookfield Asset Management (A) | BAM.A-T | 17.300 | They own a lot of hydroelectric power generation. Facilities last 100 years. Lots of access to credit, conservative balance sheet. Biggest risk is that they buy the wrong thing. They are not fully invested at this point. Likes the dividend. | 2009-03-24 | ||
| TOP PICK | Inter Pipeline Fund | IPL.UN-T | 7.370 | Main risk would be investors get bored with 11%. | 2009-03-24 | ||
| PAST TOP PICK | Petrobank Energy and Resources | PBG-T | 25.980 | (Past Top Pick Apr 16/08 Down 51%) | 2009-03-24 | ||
| PAST TOP PICK | CAE Inc | CAE-T | 7.440 | (Past Top Pick Jan 7/08 Down 42%) | 2009-03-24 | ||
| PAST TOP PICK | Daylight Energy Trust | DAY.UN-T | 7.100 | (Past Top Pick Apr 16/08 Down 28%) | 2009-03-24 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | We had a year-end rally that didn’t stick and then we tested the year-end lows. The federal budget is for a year that starts next week, so the flow of money into the economy starts next week. Thinks the depth of the crisis in Canada has been overstated. | 2009-03-24 | ||
| DON'T BUY | Opti Canada Inc. | OPC-T | 0.900 | Prefers PetroBank. Got out of it. Can extract oil without putting an open pit mine in. | 2009-03-24 | ||
| BUY | Hudbay Minerals Inc. | HBM-T | 6.000 | Likes it. $700 million in cash. Likes new Board. Biggest issue is copper smelter in Flin Flon. | 2009-03-24 | ||
| DON'T BUY | Thompson Creek Metals | TCM-T | 5.000 | Waiting to see improvement in moly prices. If you are patient, it is a great company. Could be a year or a couple of years. | 2009-03-24 | ||
| DON'T BUY | Teck Resources Ltd. (B) | TCK.B-T | 6.780 | Of the $11 billion they owe, 6 is due later this year. They may have to go into some form of court protection. May not be able to raise enough cash to pay debts. But coal prices have not come off as much as feared, copper has rebounded and they have managed to sell some small things. | 2009-03-24 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Income Trusts: Look at them on their business merits. What you have is a business that is paying a very high distribution. You have to look at when they will actually become taxable. Look at payout ratio. You want it to be lower so you know they can make it. | 2009-03-24 | ||
| SELL | Harvest Energy Trust | HTE.UN-T | 4.860 | Bought a refinery, which is a very expensive, not very useful business for them to own. Could go to zero or near zero. | 2009-03-24 | ||
| TOP PICK | Armtec Infrastructure Income Fund | ARF.UN-T | 19.000 | Mainly sewer pipes. There will be a big infrastructure spend in Canada. Provinces and municipalities have big backlogs. | 2009-01-28 | ||
| TOP PICK | Just Energy Income Fund | JE.UN-T | 9.480 | Extremely well managed. With low natural gas prices, it's a terrific time to sign up and lock in their price. Has been beaten up despite good growth performance. 13% yield. | 2009-01-28 | ||
| TOP PICK | New Flyer Industries Inc. | NFI.UN-T | 10.250 | Winnipeg-based bus manufacturer including green transportation and meet all the US criteria. Have 42% of the North American bus market. Huge order backlog. Urban transport will be top of the agenda under the new US administration. New CEO is the right man for the time. 12% yield. | 2009-01-28 | ||
| PAST TOP PICK | Franco-Nevada Corp. | FNV-T | 23.530 | (A Top Pick Jan 7/08. Up 48.8%.) Just took his profits and swung to Energy Savings (SIF.UN-T). (See Top Picks.) | 2009-01-28 | ||
| PAST TOP PICK | Inter Pipeline Fund | IPL.UN-T | 7.640 | (A Top Pick Jan 7/08. Down 8.4%.) This is his largest single position. Thinks distribution is sustainable long haul. Not taxable until 2013 because of tax pools. Have some good growth going for them and good lines of credit. | 2009-01-28 | ||
| PAST TOP PICK | CAE Inc | CAE-T | 7.040 | (A Top Pick Jan 7/08. Down 44%.) Sold his holdings at $11, down 7.8%. Saw aircraft sales deteriorating. Great company but downturn is going to affect aviation for a while. (Has a small Short position in one of his funds.) | 2009-01-28 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Gold: Has had a good run but thinks it is going to soften for a bit now because of a shift to financials by investors. There is so much stimulus in the economy that at some point, probably a year out, there will be some serious inflation. At that point, old becomes quite attractive. He’s holding gold through this period. Over $1000 when we get into information. | 2009-01-28 | ||
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| BUY on WEAKNESS | Crescent Point Energy Corp | CPG-T | 24.530 | Likes conventional (not oil sands) plays in this environment. Sitting on 4 billion barrels of oil in the Bakkens in southern Saskatchewan with 1400 drillable locations. Great future. Terrific management. Have hedged forward to 2011 at $100 oil. Buy on weakness but don't wait too long. | 2009-01-28 | ||
| SPECULATIVE BUY | Sherritt International Corp. | S-T | 2.920 | Has the Cuban overhang on it. Good management. There will be change in Cuba when Fidel passes away and the new US administration looks like it wants to reopen trade. Speculative. | 2009-01-28 | ||
| BUY | Canadian Pacific Rail | CP-T | 38.750 | Canadian Pacific (CP-T) and Canadian National (CNR-T) are at pretty good prices now. If you have a long term perspective and are willing to live with some volatility in the short-term, over the long haul both of them are going to be very good things to own. CNR would be his first choice because of the management. Consider splitting between the 2. | 2009-01-28 | ||
| BUY | Canadian National R.R. | CNR-T | 44.620 | Canadian Pacific (CP-T) and Canadian National (CNR-T) are at pretty good prices now. If you have a long term perspective and are willing to live with some volatility in the short-term, over the long haul both of them are going to be very good things to own. CNR would be his first choice because of the management. Consider splitting between the 2. | 2009-01-28 | ||
| Comment | Canadian Oil Sands Trust | COS.UN-T | 17.400 | Sold his holdings because of concerns about the sustainability of distributions. Although the long-term asset is good, in this pricing environment there is a significant possibility of a cut, which may already be factored into the price. | 2009-01-28 | ||
| Comment | Arc Energy Trust | AET.UN-T | 16.750 | Cut distributions once already. Likes the exposure to Montney gas play in BC. That will be a huge upside for them in the long haul. Natural gas prices are very weak. Wouldn't buy for a 1-year perspective but for a 3-year perspective he would put it on his list. Could be a further distribution cut. | 2009-01-28 | ||
| DON'T BUY | Oilexco Inc | OIL-X | 0.215 | Terrific assets in the North Sea. Had been a favourite for a lot of people, including him. They were well financed but with the Royal Bank of Scotland, which had a major collapse. | 2009-01-28 | ||
| BUY | Fortis Inc. | FTS-T | 24.090 | Had run up a long ways. Did an issue and it came off a bit. Good growth company with decent dividends. Likes it for the long haul. 4.3% yield. Very good assets. Good management. | 2009-01-28 | ||
| BUY | Capital Power L.P. | CPA.UN-T | 17.570 | Thinks the distribution is safe. Likes the yields and in a more buoyant market it will go up. | 2009-01-28 | ||
| BUY | Pembina Pipeline Income Trust | PIF.UN-T | 14.300 | Went to pipelines when things got ugly in the market. His #1 is Inter Pipeline (IPL.UN-T), #2 Pembina (PIF.UN-T), #3 Keyera (KEY.UN-T) and Altagas (ALA.UN-T). In terms of consolidation he thinks all 4 are takeover candidates by institutional holders. They have good sustainable yields. | 2009-01-28 | ||
| BUY | Daylight Energy Trust | DAY.UN-T | 8.700 | Convertible Debentures. Really likes this income trust and convertible debentures on it would be a good way to play. | 2009-01-28 | ||
| BUY | Keyera Facilities Income Fund | KEY.UN-T | 17.720 | Went to pipelines when things got ugly in the market. His #1 is Inter Pipeline (IPL.UN-T), #2 Pembina (PIF.UN-T), #3 Keyera (KEY.UN-T) and Altagas (ALA.UN-T). In terms of consolidation he thinks all 4 are takeover candidates by institutional holders. They have good sustainable yields. | 2009-01-28 | ||
| BUY | Altagas Services | ALA.UN-T | 16.550 | Went to pipelines when things got ugly in the market. His #1 is Inter Pipeline (IPL.UN-T), #2 Pembina (PIF.UN-T), #3 Keyera (KEY.UN-T) and Altagas (ALA.UN-T). In terms of consolidation he thinks all 4 are takeover candidates by institutional holders. 13% yield is sustainable. | 2009-01-28 | ||
| Comment | Enerplus Resources Fund | ERF.UN-T | 27.550 | In the current pricing environment, they are going to have difficulty sustaining their production. Well managed. | 2009-01-28 | ||
| Comment | Cameco Corporation | CCO-T | 21.380 | Best of the uranium companies. Watching. Uranium had a big run on speculation that a lot of nuclear plants would be built, but timing was ahead of itself. Nuclear plants take a long time to get approved and built. Has an ongoing problem with flooding in Cigar Lake mine. With a 3 to 5 year view this would be a good one to own. | 2009-01-28 | ||
| STRONG BUY | Agrium | AGU-T | 43.150 | The 2 potash companies he likes are Agrium (AGU-T) and Potash (POT-T). Likes both of them long haul. There is no question that China and India are going to need potash fertilizer. It is very clear that most of the small start-up companies will never be able to finance a new mine. This one has a little more exposure to the retail level. | 2009-01-28 | ||
| STRONG BUY | Potash Corp of Saskatchewan | POT-T | 95.800 | The 2 potash companies he likes are Agrium (AGU-T) and Potash (POT-T). Likes both of them long haul. There is no question that China and India are going to need potash fertilizer. It is very clear that most of the small start-up companies will never be able to finance a new mine. | 2009-01-28 | ||
| WATCH | Calloway REIT | CWT.UN-T | 11.950 | All REITs have come off but have been rallying a little. If you think retail sales are going to be terrible in 09 and will continue, he would be wary. But if you think stimulus efforts will help sales in Canada, it is pretty attractive at this price. 12.8% yield. Wait a quarter. | 2009-01-28 | ||
| BUY | Vermilion Energy Trust | VET.UN-T | 26.830 | Likes the conventional (not oil sands) plays in this environment. | 2009-01-28 | ||
| HOLD | Fairfax Financial | FFH-T | 397.500 | (Market Call Minute.) Has had a huge run. Thinks money in here as a contrarian play will move back to the banks. | 2009-01-28 | ||
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| HOLD | Enbridge | ENB-T | 40.460 | (Market Call Minute.) Good growth company with decent dividends. Likes it for the long haul. If you have patience, you could Buy. | 2009-01-28 |
