STOCKCHASE

18.470

His largest single holding. Had a great year that surprised him. Really likes the company. It is extremely well managed. At least one catalyst – they increase their distribution and yet keep their distribution ration low. As the oil sands produce more oil they are in a terrific position to ship more of that oil south. They don’t have to add more pile, just compression stations. They have had a terrific run so wont do a great gain but the distribution is terrific. If market gets too good, people will take money out of this one and into more aggressive holdings. Provident is an alternative and is a top pick tonight.

2012-01-04

SELL ON STRENGTH

NAL Energy Corp

NAE-T

8.250

Came off fairly sharply. Not currently on his buy list. Prefers a number of other things in the sector. Would not be in a rush to get out of it. Don’t stay too long either. Look for an opportunity if it bounces.

2012-01-04

TOP PICK

RioCan Real Estate Investment

10.120

Thinks it is the bargain interpipe. Has been buying for quite some time. 40% of cash flow from frack spreads. They will stay terrific. Nat Gas will not make a comeback this year. 10% gain plus dividend in this stock.

2012-01-04

BUY

REI.UN-T

26.330

Does not own a lot of it. It carries a premium. Terrific manager. Very sold value sop you can’t go wrong. Tends to own a few others, though.

2012-01-04

DON'T BUY

Research In Motion

RIM-T

15.280

Does not own it, did briefly at $40. Held for about a week. The problem is that he does not know who to compare it with. They are quite unique. Wonderful run and then… The two CEOs’ interest got diverted and they took their eye off the ball at exactly the wrong moment, as the world was getting quite competitive. They are a victim of their own success.

2012-01-04

BUY

Suncor Energy Inc

SU-T

31.450

Likes it and is a reasonable entry point at this point. Oil price is hard to forecast because of political risk plus other reasons. Prefers Crescent Point and prefer higher dividend, but thinks highly of it.

2012-01-04

WEAK BUY

Transalta Corp

TA-T

21.310

Good dividend yield. Company has struggled to get proper utilization of its capital. Has not been his favourite utility. Favours TRP, ENB and others. It has a base and Alberta is growing so he is less negative about it and previously.

2012-01-04

PAST TOP PICK

Toronto Dominion

TD-T

76.600

(Top Pick Dec 31/10, Up 7.65%) Pleased with the return and comfortable holding it long term. As US comes back, TD’s US business will do well. Could power ahead to be the largest bank in Canada. Also owns BMO and NA.

2012-01-04

N/A

0.020

Markets: There are three clouds – Slow growth in the US. This could be the year the housing surplus starts to disappear in the US and is the reason there are missing jobs. While china is slowing, he doesn’t see it slowing below 8% and that will keep the companies up. Third, Europe debt situation. He sees rates coming down and successful bond auctions. That will be the one that is back and forth and has some volatility to it. If the Iranians block the straights the price of oil could go up to $130 and shock the world economy. The US election could cause uncertainty to deepen in the US but that doesn’t seem likely at present. Volatility will not be as heightened as it was last year. It was quite irrational.

2012-01-04

PAST TOP PICK

Brookfield Asset Management (A)

10.380

(Top Pick Dec 31/10, Down 41.49%) Company is going through a massive change. Building a new mine which will be an important mine. Doing a big project in Peru (politics affected investor sentiment). Almost $5 of cash per share. Thinks it will climb back up bit will take some time to get there.

2012-01-04

DON'T BUY

Tim Hortons

THI-T

48.750

A wonderful company. Would be reluctant to chase it at these prices. Yes they are busy and yes there is a big line-up. You wont go wrong holding it, but the best time to buy would be after a big market correction. Would want a $42 and you may not get that.

2012-01-04

BUY

BAM.A-T

28.180

Owns this one and the renewable and the properties. They seem to be in a perpetual state of being reorganized but seem to perform. It depends on how diversified you want to be – real estate or energy. Has a high regard for management and unlocked a lot of shareholder value. Buy two or three of the Brookfield names. If he had to choose one it would be this one.

2012-01-04

WAIT

Canfor Pulp Products

CFX-T

12.720

Has come off sharply because of a drop in pulp prices. Very volatile trader. BMO reduced its target today. Pulp prices are starting to bottom. CFX has low debt and does not have to shut at a low price point. Thinks they will see an increase in prices this year although they may go a little lower. Have not set the dividend for the year and it might get cut back a bit.

2012-01-04

BUY

Premium Brands Holdings Corp

PBH-T

16.600

Sold it years ago. Looked at it recently. Sells a lot of deli meats and sliced, processed meats. Doing well, good yield and moderate payout ratio and doing good acquisitions, so more interested in it than he has been in a while. They seem well managed.

2012-01-04

WAIT

Algonquin Power & Utilities Corp

2.170

Thinks their 12-18 month production profile will rise dramatically (double). One timing delay. They have a ship in the Emirates that is going into the north sea to pump 5000 Barrels per day but it is delayed by safety inspectors. Will have to pass through straight where Iranians have been firing missiles. Could be a 1 quarter delay and it could affect cash flow for the year. You might be able to get it closer to $2

2012-01-04

TOP PICK

Canacol Energy Ltd.

CNE-T

0.780

Small growth company. One of the few that he owns that exited the year way above their guidance. Have a strong balance sheet – no debt. Drilling 22 wells this year. Gone from a standing start to strong production. Thinks they will take this higher. They are increasing production at a very good rate. Oil prices are strong. Thinks this could be a double or a triple and is a large position in his small cap fund. One knock is that they grew production so fast that their reserves don’t look that strong. They need a new reserve report done.

2012-01-04

SELL

Athabaska Oil Sands Corp

ATH-T

12.370

Was taken public and a lot of insiders dumped a lot of shares afterwards. A lot of early investors did very, very well, but not the later investors. Put a negative market sentiment around the company. He is among the people taking a second look. It was always an attractive company but it was over promoted. Required a lot of consolidation to come back on the radar screen. Taking some cash now is a reasonable thing to do.

2012-01-04

SELL ON STRENGTH

Poseidon Concepts

PSN-T

13.220

Has had a good run. They found a lovely niche. Water tanks. You use a lot of water in fracking in western Canada. Highly profitable. The concern is that there are a lot of other oil service companies and PSN does not have a patent on the water tank. They have quite a following, increased the dividend. He has been short in it at various times. The concerns are when competitors start to offer a water tank; their margins will come down. Take profits as it goes up because it may not last – a quarter or two and then a day of reckoning.

2012-01-04

BUY

Agrium

AGU-T

79.190

Probably a good entry point for fertilizer stocks. Prefers Mosaic (MOS-N) but this company is a good solid one. Not a bad entry point.

2011-11-10

BUY

Altagas Ltd

ALA-T

29.790

DRIP is available in this company. Has done very well and he is thinking of buying it back. If you can be patient with this for 5-10 years, it's a terrific way to have growth and to reinvest dividends.

2011-11-10

BUY

AQN-T

5.650

Has done well. Just reported good numbers. Optimistic about them. Yield of almost 5%.

2011-11-10

Comment

Aecon Group Inc

ARE-T

10.400

Up 47% since their October low. Has been a tough story for a long time. He avoided this because it has disappointed so many times. It may be that they have finally got everything aligned. Seem to be getting new contracts with some margin improvement.

2011-11-10

STRONG BUY

Canadian Oil Sands

COS-T

20.570

Equities are saying that oil prices are not going to stay in the mid-$90's. He believes oil will stay reasonably high, 1) partly because you need high oil prices to keep it getting discovered and 2) Asian demand is growing 15%. A screaming bargain at $20.

2011-11-10

Comment

Davis + Henderson

DH-T

16.750

You have to worry long haul about a cheque printer but they have actually done pretty well. Have added a lot of electronic features. Wouldn’t bet against them. 7.4% yield.

2011-11-10

BUY

Enbridge

ENB-T

34.550

High-quality company and has done very, very well.

2011-11-10

TOP PICK

Finning Int

FTT-T

22.350

Caterpillar distributor. Sees a very large non-residential capital construction boom in Canada. Caterpillar equipment is ideally suited for this. Besides selling equipment, they do the rentals, repairs and customer support. They are also in South America, a real hot bed of development.

2011-11-10

Comment

Great West Lifeco

GWO-T

20.600

In better shape than Manulife (MFC-T) or Sun (SLF-T). Earlier this year he switched from lifecos to the banks because the banks offered more transparency.

2011-11-10

BUY

Husky Energy

HSE-T

24.530

The low price is really about the market, not the company itself.

2011-11-10

BUY

Keyera Corp

KEY-T

46.650

Just increased their dividend by 6%. Have done a superb job of growing the company. The secret sauce in all of these companies is the ability to extract liquids from natural gas, which sell for the price of oil.

2011-11-10

HOLD

Kinross Gold

K-T

14.060

Has always had a concern about this company’s dependence on Russia where it has virtually all of its gold mines. Prefers Goldcorp (G-T) and Iamgold (IMG-T). None of the companies have performed as well as bullion.

2011-11-10

TOP PICK

Sherritt International Corp.

9.280

Has run up less than its competition Keyera (KEY-T), Inter Pipe (IPL.UN-T) and Altagas (ALA-T). In the frac spread area so benefits from that. Is amongst the lowest payout ratios in the group so are equipped to raise their dividend. 100% midstream now.

2011-11-10

Comment

Royal Bank

RY-T

45.000

Was his favourite bank stock for many years but switched to Toronto Dominion (TD-T) 2 years ago. Although they have the strongest historic management culture in Canada, TD made much better decisions about the US.

2011-11-10

HOLD

Just Energy Group

JE-T

10.660

Yield of 11.6%. Market feels that anything with a high yield is suspect. Thinks the market got it wrong on this one. Good management. Latest quarter shows 8% year-over-year growth. Management has said they are fully able and intend to pay the current level of dividend for the balance of this year and next.

2011-11-10

Comment

S-T

5.540

Opening a huge mine in Madagascar. Had a terrific quarter. He is taking another look at this one and may consider going back into it.

2011-11-10

PAST TOP PICK

Cineplex Inc

CGX-T

25.800

(A Top Pick Nov 11/10. Up 24.42%.) Good steady dividend payer. Over 5% yield. 50% payout ratio. Good for the long haul.

2011-11-10

Comment

Liquor Stores N. A.

LIQ-T

14.580

In bad times, people drink because of the bad times and in good times a drink to celebrate the good times. Has been a good steady performer for him. Long-term hold. You would be buying this one for the dividends.

2011-11-10

Comment

0.020

European situation. Thinks it will get dealt with and when the Europeans get towards a solution, expects China, Japan, etc. will step up to help finance it.

2011-11-10

PAST TOP PICK

10.500

(A Top Pick Nov 11/10. Down 39.62%.) Still loves this one. Doing very well. Have a new mine coming on next year. Doesn't see any catalysts in the next 2 quarters. $800 million plus in the bank. Expect they will be back in the $20’s before too long.

2011-11-10

DON'T BUY

Franco-Nevada Corp.

FNV-T

42.630

Had owned this some time ago until he felt it was getting pricey. Have always had great respect for this company and its ability to do things cleverly but still feels it is a bit pricey.

2011-11-10

TOP PICK

2.220

(A Top Pick Nov 11/10. Down 6.69%.) Target of $4 in a year. Producing 5000 barrels of oil a day in the North Sea. 2 new fields coming on. One will take it to 10,000 and the 2nd to 25,000. Strong balance sheet and over $100 million in the bank.

2011-11-10

STRONG BUY

Canacol Energy Ltd.

CNE-T

0.650

Has come off a long way from the top. He has recently added to his holdings. Brought on a spectacular well in a whole new virgin reservoir with very high pressure. Are drilling more wells there. Thinks the stock could easily be back to $1.50 within 12 months. Has $125 million in the bank.

2011-11-10

WAIT

Canadian National R.R.

CNR-T

68.380

Best railway in North America. When you can get it down at these levels, it is worth considering. Be little patient as it will trade on the overall economy. If there is continued perception of weakness, you might get a little lower.

2011-10-03

TOP PICK

Crescent Point Energy Corp

15.610

Pipeline and a stable way to play energy. 6% dividend. Really likes its growth prospects. Has the corridor pipeline, which is handling just under 500,000 barrels a day and can go to 1.2 million. Also acquired some oil storage in the Danish Straits, which has a really good return on it.

2011-10-03

BUY

Suncor Energy Inc

SU-T

25.280

Would be a little patient with this one given the nature of the market selloff. Probably the best value of major oil in Canada right now.

2011-10-03

BUY

Teck Resources Ltd. (B)

TCK.B-T

28.690

Likes their operations and thinks their main commodities are still in big demand. Below $30 is an excellent time to buy. If it gets back to $48, he would probably exit it.

2011-10-03

Comment

Thomson Reuters Corp

TRI-T

27.810

Very high quality name that generally trades with the market. If you believe in a Santa Claus rally, like he does, it should participate fully in that.

2011-10-03

PAST TOP PICK

CPG-T

37.930

(A Top Pick Oct 4/10. Up 9.28%.)

2011-10-03

TOP PICK

Cineplex Inc

CGX-T

25.790

Has had a terrific run. People are going to more movies. Getting good revenue from their commercials. Extremely well-managed. Still make most of their money on their concessions.

2011-10-03

Comment

0.020

Markets. He has shifted to more defensive holdings with higher incomes. Some pretty grim things are discounted into the market and he doesn't think will happen. General Motors (GM-N) have reported a 20% increase in car sales. We are into a slowdown and Europe is troubling at we have lost sight of the big picture. A Santa Claus rally is a pretty good possibility.

2011-10-03

Comment

0.020

Gold. The 2 names that he likes are Goldcorp (G-T) and Iamgold (IMG-T). Sees growth in Goldcorp. Not accumulating at this time but is considering how badly the equities have done compared to the commodity.

2011-10-03

PAST TOP PICK

9.480

(A Top Pick Oct 4/10. Down 33.03%.) Fears on base metals has been misplaced on this company. Produces 100,000 ounces of gold annually. Ramping up with their new mine to 250,000 ounces. Screaming bargain.

2011-10-03

PAST TOP PICK

Canadian Helicopters Group

9.480

2011-10-03

Comment

CHL.A-T

21.530

There are 2 risks to their growth. If there is a bit of a downturn in resource activity, particularly mining exploration, they could be hurt. Have some US military contracts in Afghanistan, and they're going to pull out. Very solid company.

2011-10-03

HOLD

Canfor Pulp Products

CFX-T

11.890

14% high-yield creates fear as they feel something must be wrong. Pulp prices have come off, but not as much percentagewise as what the stock has come off. Feels it is overdone.

2011-10-03

Comment

Petrominerales Ltd.

PMG-T

19.990

Slow down is a combination of several factors. 1) Slowdown in the market after it had a huge run up with people taking profits. 2.) Oil prices have come off. 3.) Heavy oil producer creating some concern. 4.) In Colombia that has a bit of political turmoil. Solid company with a big future ahead of it.

2011-10-03

TOP PICK

Whistler Blackcomb Holdings

1.530

(A Top Pick Oct 4/10. Down 24.88%.)Small oil producer in the North Sea. Been under pressure along with the whole oil sector. Extremely well-managed. Has production increases coming. Selling oil into the Brent market.

2011-10-03

STRONG BUY

Canacol Energy Ltd.

CNE-T

0.590

Just put out 2 positive press releases. Looking to be at 14,000 barrels a day production by the end of the year. Had some very good drilling results. Great growth prospects ahead. He has just added more to his position. Screaming bargain at this price.

2011-10-03

HOLD

WB-T

10.200

Revenues come from the Blackcomb ski resort. Positive news is that it has built a summer season. Add news is, they are weather dependent. There is talk of a new airport. Sold his holdings when he thought it was going to trade in a range for a while. Distribution is reasonably safe. If you own, consider exiting if it gets back to $12.

2011-10-03

Comment

Bombardier Inc (B)

BBD.B-T

5.540

Make trains and planes and trains are good for cash flow, but lousy margins while the planes have good margins but not good cash flows. You rarely get a market where they are selling big volumes in both trains and planes at the same time. If you are going to own it, be in it for a short pop only your it

2011-08-02

Comment

BCE Inc.

BCE-T

36.060

Thinks this is down generally because of the market malaise. Doing an excellent job of becoming more efficient and competitive. Expects there will be no dividend cut, but gradual dividend increases.

2011-08-02

PAST TOP PICK

15.550

(A Top Pick July 19/10. Up 35.2%.) His largest and favourite holding. A real gem over the next few years.

2011-08-02

HOLD

Magna Int'l. (A)

MG-T

43.740

The general view is that this company is very good at making the auto industry more efficient. If you own, it would be worthwhile to be patient with it.

2011-08-02

TOP PICK

iShares DEX Universe Bond ETF

8.360

Mid stream processor. Extracts natural gas liquids and sells it, essentially near the oil price. Very good business. Pays a good yield.

2011-08-02

PAST TOP PICK

Just Energy Group

JE-T

13.600

(A Top Pick July 19/10. Up 17.5%.) Still likes.

2011-08-02

BUY

SNC-Lavalin Group Inc.

SNC-T

53.030

Has become the 10th largest engineering firm globally. There are a lot of things getting built in the world that need engineering services. Do very well in China and all the developing parts of the world. This is a good time to buy.

2011-08-02

BUY

Suncor Energy Inc

SU-T

35.280

Would be happier to see oil at $90 because of the effect on motorists in a slowing economy. This and Husky (HSE-T) are probably the most undervalued energy companies.

2011-08-02

TOP PICK

Teck Resources Ltd. (B)

TCK.B-T

44.930

Had a very good quarter based on their copper and coal. An enormously good play on China and Asia. Likes how they came through after acquiring Fortis. Very good management team. Hoping to sell at in the mid-$60's.

2011-08-02

Comment

Sino-Forest Corp

TRE-T

6.830

Got out of this when they were misstating their acreage a decade ago. He questions if they are misstating something small, there could be other larger things as will. If you are in this, be very nimble.

2011-08-02

HOLD

Trans Canada Corp

TRP-T

39.680

2 things he worries about. Shifting where natural gas is being found in North America means they are having significant trouble filling their main gas line from Alberta. They have a big natural gas plant in New York and have recently been hit with what they feel are very unfair rate issues. Feels the Keystone project will get green lighted.

2011-08-02

BUY

Cineplex Inc

CGX-T

24.190

Now in a buying range. (Just bought some.) Movie industry in North America is very soft in the 1st 2 quarters compared with 2 previous years, partly due to Avatar, which was a huge driver in 09. Box office now starting to pick up and there are some big movies coming out. Lots of room to raise the dividend.

2011-08-02

PAST TOP PICK

XBB-T

30.610

(A Top Pick July 19/10. Up 6.59%.) Still likes but has been moving into the Corporate Bond ETF (HAB-T).

2011-08-02

TOP PICK

H&R Real Estate Inv Trust

2.190

Not for the faint of heart. North Sea oil producer. Ramping up its production quite dramatically over the next year, year and one half. Very well managed. Will potentially get back to $3. Buy it for an 18 month hold and don't put your life savings into it.

2011-08-02

PAST TOP PICK

Veresen Inc

VSN-T

13.830

(A Top Pick June 11/10. Up 45.62%.) Took a little off the table on this one.

2011-06-27

BUY on WEAKNESS

Goldcorp Inc

G-T

46.130

Believes they are going to add significantly to their production. Anytime you can buy this below $40 a share, it is worth buying. Try to get it in the mid-to low $40's.

2011-06-27

TOP PICK

HR.UN-T

21.770

Feels it trades at quite a discount to its peers. Just in the finishing stages of the big complex they bought in Calgary. This company has very high occupancy rates, good growth and a lot of projects in the pipeline. 4%+ dividend.

2011-06-27

TOP PICK

Potash Corp of Saskatchewan

15.220

Likes pipelines in general. 2 good catalysts are 1) the corridor pipeline, which went into operation in the last 12 months, is carrying about 485 thousand barrels of oil a day. By putting one more piece of pipe in they could triple that. 2) Just bought oil storage facilities in the Danish Strait, which is the busiest corridor globally. 6%+ yield.

2011-06-27

Comment

Manulife Financial

MFC-T

16.210

Had a hard look at this one at a lower price but didn't buy because he was worried about transparency on their US liabilities. He would want to see another quarter or two before making a decision. Prefers banks.

2011-06-27

BUY on WEAKNESS

Norbord Inc.

NBD-T

11.900

Oriented strand board for houses. Terrific company but probably not the time to buy. Needs a real rebound in US housing. Forecasts are half 1 million starts this year and 8 hundred thousand next year. Historic level is 1.5 million starts. You could probably get in lower than the current price. If you've got the stomach for volatility 3 years out, this is a very good stock.

2011-06-27

BUY

POT-T

53.520

Think they will expand their business. Basic economics of potash is that it costs a whole lot of money to drill a shaft down, but once you have it, you can expand. Likes up at around $50 or less and it should be good over the next 12 months and up into the $60's. Try to buy on dips.

2011-06-27

PAST TOP PICK

Just Energy Group

JE-T

14.150

(A Top Pick June 11/10. Up 15.59%.) Still likes.

2011-06-27

BUY

Toronto Dominion

TD-T

79.600

His favourite bank. Likes their high-quality US acquisitions and expects they will earn a lot of money. Banks have had a big run and have come off a little bit from their peaks, but good stocks for the long haul. If you can get this below $80 and you are patient, you will do very well.

2011-06-27

SELL

Canwel Building Materials Ltd.

CWX-T

3.170

Thinks he may have sold all of his holdings. Got a real bump out of the government’s home renovation stimulus program, which has now ended. With the floods in many parts of Canada this could be a soft summer for home renovations.

2011-06-27

Comment

0.020

Economy. Seeing a slowdown and the market is pulling back but doesn't feel there will be a recession. Continuation of rapid growth in Asia is going to save us from a recession. China has the ability to stimulate their economy physically and by lowering rates. Growth is continuing in North America even though it is slow. US will be pulled out by their big global, competitive internationals over time.

2011-06-27

Comment

0.020

Gold. Prefers equities to commodities because of the large moves in gold price. His preference is Goldcorp (G-T) because he believes they are going to add significantly to their production. Even if gold bounces around a little he would prefer to own the equity. Feels gold prices are going to go up. What is putting the support on it is buying in Asia.

2011-06-27

TOP PICK

Potash Corp of Saskatchewan

13.210

$700 million in cash. Their new mine in Manitoba, which is opening in the next 12 to 18 months, will take their gold production from 100,000 ounces to 250,000 ounces. Close their copper smelter, which was a millstone to them. Thinks there copper project in Peru is a go.

2011-06-27

PARTIAL SELL

Boyd Group Income Fund

BYD.UN-T

13.050

Auto glass, auto repair based out of Winnipeg. Share price basically collapsed when they cut distributions but has come roaring back. Had a good run and if you own, consider taking some money off the table. Feels it still has some good times ahead of it, but not the same as it has.

2011-06-27

BUY

Penn West Petroleum

PWT-T

21.890

Has come off quite a bit from its high but feels it will recover over time based on earnings and some stability in oil prices at around $90. His target would be the mid-$20's in the first half of next year.

2011-06-27

PAST TOP PICK

Canfor Pulp Products

CFX-T

17.500

(A Top Pick June 11/10. Up 32.26%.) Paying a very healthy dividend and he expects they will continue earning this and paying it. Has been volatile. Current price is a good place to buy. Probably in the low $20's in 12 months. Pulp prices are strong because paper prices are strong. They are also selling a lot of electricity into the BC grid.

2011-06-27

Comment

BCE Inc.

BCE-T

37.900

Did a good job of moving into television area. Had a great run. Could go either way on this one. Doesn’t see huge downside risks but at around $40, it’s a little thin for moving higher. Yield is perfectly safe. When the market recovers, as he expects, there may be some rotation out of this type of stock and into things with more upside.

2011-05-16

Comment

Cameco Corporation

CCO-T

25.920

Sold his holdings after Japanese nuclear problems. Has put a permanent dent in prospects for nuclear energy because 1) a lot of older reactors that might have been extended in life will come under greater scrutiny and 2) more public scrutiny of new proposed reactors.

2011-05-16

STRONG BUY

Canadian Oil Sands

COS-T

29.740

Of the big Canadian oil companies, this is the cheapest. Expect them to continue to have good earnings.

2011-05-16

TOP PICK

Finning Int

FTT-T

27.880

Mining equipment manufacturer, where there is a huge demand. Also world’s largest Caterpillar dealer and distributor. They expect to grow 10% a year for the next 10 years but he thinks it could be faster. Raised their dividend.

2011-05-16

BUY

Magna Int'l. (A)

MG-T

48.400

Will benefit from demand for greater efficiency in the auto manufacturing field. Has come off and not a bad entry point. Transition from Frank Stronach and the multiple voting shares is an important development for them.

2011-05-16

PAST TOP PICK

Norbord Inc.

NBD-T

13.070

(A Top Pick April 22/10. Down 28.5%.) Sold at $11.15 Sept 1/10. Highly leveraged to oriented strand board, which is very much tied to the US housing recovery.

2011-05-16

BUY

POT-T

50.960

Couldn’t find a better long term play than this as they have 400 years of potash. Not a bad entry level. He buys below $50. Fertilizer inventory levels are low. Countries with large populations (China and India) are capable of feeding them in terms of dollars. Fertilizers have a big long run ahead of them.

2011-05-16

TOP PICK