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| Peter Brieger of GlobeInvestment Capital Management |
|---|
| 20 Queen Street West |
| Suite 3308 |
| Toronto ON |
| M5H 3R3 |
| 416-591-7100 |
| Peter Brieger's website |
| Fax: 416-591-7133 |
| info@globe-invest.com |
| DON'T BUY | Apple | AAPL-Q | 446.660 | Remarkable story. Attributes the boost in sales to Steve Jobs death. He thinks there was a collective moment worldwide where everyone said that they had to go buy an Apple. It was such a huge global story. He won’t chance it here unless it pulls back. | 2012-01-25 | ||
| BUY | Arc Resources Ltd | ARX-T | 24.060 | Would nibble away at this stock at these levels. Dividend is safe. If gas went to $1.50, they would cut capital spending. They would take money from DRIP programs and they would sell extraneous land, so the dividend is safe. | 2012-01-25 | ||
| HOLD | Agnico-Eagle Mines | AEM-T | 37.760 | Loves gold and thinks it is going higher. Used to own this and still owns G-T. AEM is cheap and he would continue to hold it. | 2012-01-25 | ||
| BUY | Agrium | AGU-T | 81.020 | It is two businesses – retail + wholesale. Likes the long-term outlook for corn even though ethanol subsidies have gone. Prefers this to POT | 2012-01-25 | ||
| BUY | BCE Inc. | BCE-T | 40.950 | Doesn’t know why it went down this morning. Dividend is safe. They know their holders are long term and want income. There is increasing competition in that whole space and something may have happened that put BCE down. | 2012-01-25 | ||
| TOP PICK | Bonavista Energy Corp | BNP-T | 22.800 | Bought yesterday. Likes the nat. gas story long-term. If gas heads for $1.50, the shut-ins will kick in. 6% dividend. | 2012-01-25 | ||
| DON'T BUY | Cameco Corporation | CCO-T | 23.850 | Sold after tsunami on Japan. One has to have a good view on uranium, which he does not have yet. He would not play Uranium right now and would play Uranium participation units if he did. | 2012-01-25 | ||
| TOP PICK | Central Fund of Canada Ltd (A) | CEF.A-T | 22.490 | Gold/Silver play. Believes in diversifying between the two metals. No futures contracts so you are getting the pure goods. Believes gold will become part of the new world financial system. It is a currency and there is no liability. Highly attractive. Feels gold will go higher. | 2012-01-25 | ||
| BUY | Canadian Natural Rsrcs | CNQ-T | 40.300 | Because of what they are doing at Horizon they are throwing off huge amounts of cash and will pay down debt or acquire other companies. He may double his holdings. | 2012-01-25 | ||
| DON'T BUY | General Electric | GE-N | 19.130 | Not a bad holding, dividend is safe, but he would rather be elsewhere. GE has so many businesses. | 2012-01-25 | ||
| BUY | Inter Pipeline Fund | IPL.UN-T | 17.500 | Never thought the third party contract for management was the main driver behind stock price. Conservatively run company. Management’s objective is to make sure there is enough cash flow to cover the distribution. | 2012-01-25 | ||
| DON'T BUY | Kinross Gold | K-T | 11.300 | Could be taken over down here. There wont be production growth for a couple of years and could be faced with higher mining costs in the mean time. Doesn’t buy on speculation of takeovers. | 2012-01-25 | ||
| DON'T BUY | Manulife Financial | MFC-T | 12.550 | It’s cheap for a good reason. Interest rates over the next couple of years could stall its recovery. Dividend is stable. If you had a 5-year view you would be ok. | 2012-01-25 | ||
| BUY | Pembina Pipeline Corp | PPL-T | 26.620 | Likes it. Did a deal with provident which could put them in the liquid natural gas business. Cash flow could be a little less stable. If you have patience and keep a sharp eye on the liquids business you can hold it or even buy it. | 2012-01-25 | ||
| WEAK BUY | Potash Corp of Saskatchewan | POT-T | 45.480 | AGU is cheaper. The problem they have both been having is that there is excess inventory of potash and hurting the price. India and China are resisting the higher price but longer term he would recommend it. | 2012-01-25 | ||
| BUY | Power Financial Corp | PWF-T | 27.360 | Could play this as well as the banks. Likes it and would buy it here. Good hedge on the stock market. Great west will be under a cloud and could be a takeout candidate. Stay with the banks, but if you want to peel a bit off to PWF, that is fine too. | 2012-01-25 | ||
| WAIT | Research In Motion | RIM-T | 16.400 | He would hold it but not buy it. He wants to see how the new team works, what they will focus on going forward. They have a great franchise, new operating system so he is not despairing about the company. | 2012-01-25 | ||
| BUY on WEAKNESS | Teck Resources Ltd. (B) | TCK.B-T | 42.470 | Seen 20% in S&P and 10% in Toronto since October lows. Likes it because of the demand from China. Would buy except for worries for a short-term pullback in the markets. | 2012-01-25 | ||
| HOLD | Trans Canada Corp | TRP-T | 41.790 | Sold it because of negative keystone outcome. Thinks that in fact you will see the keystone pipeline built. There is too much pressure from American politicians for the jobs and oil. Thinks it will get built but it is dead money for 6 months except for the dividend. Doesn’t see any tragedies for them. | 2012-01-25 | ||
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| N/A | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Markets: Fed going to keep rates exceptionally low through 2014. Lots of reaction in markets including gold shooting higher. You can borrow cheaply and buy gold. There is fear about how far the US recovery can go and can it tip over. They are keeping rates low to keep money in Europe. All in all it is probably a good move. US may be printing more money and that is good for gold. Keep in mind we are in a negative interest rate environment. You are not really getting any return on your bonds. The yield players are still a good place to be, even though they are fully priced. | 2012-01-25 | ||
| PAST TOP PICK | Daylight Energy Ltd | DAY-T (Dead) | 10.070 | (Top Pick Jan 27/11, Up 7.62%) was taken out by a Chinese company. Didn’t predict it but clearly it was the smallest of the group. There will be more of a trend of this happening. | 2012-01-25 | ||
| BUY | Scorpio Mining Corp. | SPM-T | 1.990 | Next week they will probably announce plans to complete expansion of existing mill. It will be in operation in the first quarter of next year and help cash flow in 2013. There are a lot of very interesting geological prospects on the property. They hired a geologist. | 2012-01-25 | ||
| PAST TOP PICK | Itron Inc. | ITRI-Q | 39.340 | (Top Pick Jan 27/11, Down 33.54%) Started to loose faith in the cyclicals. Too many of their projects appeared long term. | 2012-01-25 | ||
| PAST TOP PICK | Flowserve Corp. | FLS-N | 108.760 | (Top Pick Jan 27/11, Down 10.14%) Parts for the basic flow industry. He would consider adding some time in the near future. | 2012-01-25 | ||
| TOP PICK | Scorpio Gold Corp. | SGN-X | 0.910 | Chairman has bumped production rate for this year and it could produce 50-60 cents per share. Before buying it, realize only two people covering it. He is very bullish on it. | 2012-01-25 | ||
| DON'T BUY | Cenovus Energy | CVE-T | 36.470 | Doesn’t like it because it is expensive. Prefers CNQ, SU. | 2012-01-25 | ||
| BUY | Bank of Montreal | BMO-T | 54.700 | Why is this bank so unfavourable to its peers? This bank had a number of catastrophes with people making ill-advised speculations, digitally on natural gas. Since then, they have done a great job but the stock has behaved quite badly. People have found the latest quarter wanting and feels they have taken the stock down way too much. | 2011-12-16 | ||
| BUY | Bonavista Energy Corp | BNP-T | 26.580 | Focused in Alberta and have great properties. Built up a marvellous bank of around 1340-1400 drilling locations of very interesting plays, particularly in those that have natural gas liquids. Looking for a total return of about 30% over the next year. | 2011-12-16 | ||
| TOP PICK | Canadian Natural Rsrcs | CNQ-T | 36.100 | Largest Canadian oil/gas producer with production in excess of 600,000 daily. Have diversification through their offshore holdings in West Africa and in the North Sea. This is a cash cow. Making great money from oil sands, North Sea and eventually from West Africa. Have loads of cash to buy back stock, pay down debt or make other acquisitions. Cheap at 4.2 price to cash flow. | 2011-12-16 | ||
| Comment | Canadian Oil Sands | COS-T | 22.100 | Probably basing at this time. Not his favourite and he would look elsewhere. If you want the income, you are probably fairly safe with this one. | 2011-12-16 | ||
| BUY | Enbridge | ENB-T | 35.850 | Price to cash flow ratio is a shade higher than Trans Canada (TRP-T). A premier company going forward. | 2011-12-16 | ||
| Comment | Freehold Royalties | FRU-T | 19.140 | Management has done a good job. Feels the 8.8% dividend can be maintained. If you are in here for income and modest growth, you'll be well looked after. | 2011-12-16 | ||
| BUY on WEAKNESS | Inter Pipeline Fund | IPL.UN-T | 18.580 | Fine company and great management. He intends to hold. Would wait for a pullback before going into it. $16.50-$17 would be a good entry point. | 2011-12-16 | ||
| Comment | Kinross Gold | K-T | 12.490 | He is very keen on gold. His current holdings are Central Fund (CEF.A-T) for the bullion, Goldcorp (G-T) for the shares and Direct Share Participation. Also has S&P/TSX Global Gold (XGD-T) as well as a Top Pick that he will talk about later. | 2011-12-16 | ||
| DON'T BUY | Manitoba Telecom Services | MBT-T | 29.310 | Likes the management, but quite frankly he thinks their prospects are quite limited. Would prefer a Telus (T-T) or BCE (BCE-T). | 2011-12-16 | ||
| Comment | NAL Energy Corp | NAE-T | 7.450 | The present $0.94 will probably go to $0.48 and is probably already in the price of the shares. BOE production is probably 40,000 barrels a day, which is too small for him. Good small company. The smaller companies will get merged or taken out. | 2011-12-16 | ||
| HOLD | Pembina Pipeline Corp | PPL-T | 30.270 | One of his favourites. Price to cash flow ratio is quite high at 13.5% so it is fully priced, but if you Sell where will you go for a comparable yield. | 2011-12-16 | ||
| Comment | Potash Corp of Saskatchewan | POT-T | 40.580 | Reason for weakness has been that inventories have been building up as the Chinese, Indians, etc back off from paying their prices. They have taken some production out of service. Likes it for the long term. | 2011-12-16 | ||
| Comment | Research In Motion | RIM-T | 13.970 | Bought at $14 with a $12.75 stop loss. Felt it couldn’t go much lower and that the short sellers and tax loss sellers are just about finished. Market usually goes up from here into January. Comments? Could well be a great spec. Net free cash flow is doing very well and the subscriber base is growing rapidly. | 2011-12-16 | ||
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| BUY | Royal Bank | RY-T | 48.820 | Good entry point. | 2011-12-16 | ||
| DON'T BUY | Shoppers Drug Mart Corp | SC-T | 42.040 | There is too much competition. Everyone is getting into everyone else's business. Thinks there is going to be continuing pressure on all avenues of retail. | 2011-12-16 | ||
| BUY | SNC-Lavalin Group Inc. | SNC-T | 47.900 | Fits into his theme of Canadian companies that have a major presence outside of Canada and will benefit from growth in developing nations. | 2011-12-16 | ||
| BUY | Teck Resources Ltd. (B) | TCK.B-T | 35.180 | One of his favourites. Fits into the long-term theme of Canada providing resources to developing nations. Feels that China will have a soft landing. | 2011-12-16 | ||
| SELL | Thomson Reuters Corp | TRI-T | 26.700 | Going through the wars. Just replaced some senior managers. Seems to be floundering. 4.8% dividend yield. He would look elsewhere right now. | 2011-12-16 | ||
| BUY on WEAKNESS | Telus Corp | T-T | 55.670 | Difference between the regular shares and the A shares? Stick with the voting shares. Once you get into the A shares you run into potential problems. The communication companies are producers of net free cash flow. Charts of this company and BCE (BCE-T) are more positive than Rogers (RCI.B-T) or Shaw Communications (SJR.B-T). Stocks are cheap relative to their growth rates. Interested in this if it pulled back 5%. | 2011-12-16 | ||
| Comment | Yamana Gold Inc. | YRI-T | 14.730 | Sold his holdings because he thought the opportunities were better in Goldcorp (G-T). Likes gold. Great company but you might do better in a more senior play. (See Top Picks.) | 2011-12-16 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Investing. He wants companies that produce net free cash flow after taking care of CapX and dividends. This leaves the door open for further increase in dividends, which is very important. | 2011-12-16 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Shale gas. For sustained long-term growth, nations have to have secure, cheap energy. For North America and the rest of the world, that ended in 1974 because of 1) oil embargo and 2) tremendous price increases. With the potential burgeoning of supplies in shale gas, this could be a game changer in terms of cost of energy for all aspects of the economy. In 5-7 years, the 1st to benefit would be manufacturing companies and secondly if the shale gas boom continues, will create a huge demand for pipe and other types of equipment. Lastly, the consumer will benefit. | 2011-12-16 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Gold. Until governments come to their financial senses, the currency and paper money are going to depreciate and gold is the one fixed quantity going forward. | 2011-12-16 | ||
| PAST TOP PICK | Daylight Energy Ltd | DAY-T (Dead) | 9.950 | (A Top Pick Dec 15/10. Up 6.76%.) Was taken out. | 2011-12-16 | ||
| PAST TOP PICK | Uranium Participation Corp. | U-T | 5.550 | (A Top Pick Dec 15/10. Down 31.97%.) Sold his holdings at $6.50 after the Japanese disaster. | 2011-12-16 | ||
| Comment | Penn West Petroleum | PWT-T | 19.800 | The slump in the market is the main reason for the slowdown in the stock. Looking at this one. Price to cash flow, roughly 4.2 is more attractive than his current holdings. | 2011-12-16 | ||
| BUY | Scorpio Mining Corp. | SPM-T | 2.100 | Normal daily volume is 800,000 to 1 million shares. Today it was 10 million. This was due to a US ETF adding the stock to its precious metals index. Going ahead with the expansion of the existing mill at Sonora, which will take the production rate up from 1500 tons a day to 2500-3000. Excellent exploration potential. Looking for $3.50 to $5 three years out. | 2011-12-16 | ||
| PAST TOP PICK | Flowserve Corp. | FLS-N | 97.540 | (A Top Pick Dec 15/10. Down 14.4%.) Highly technical and dull and boring. Have a marvellous engineering staff. | 2011-12-16 | ||
| TOP PICK | Scorpio Gold Corp. | SGN-X | 0.740 | First-class management. Safe area in Nevada with great access to infrastructure. In production and will probably produce 35,000 ounces of gold this year. At $1500 an ounce and will produce about $.30 a share in cash flow. Have a target of 100,000 ounces in 3 years. | 2011-12-16 | ||
| TOP PICK | Tetra Tech Inc. | TTEK-Q | 20.990 | They consult, design and build projects in the water area, which is 80% of their business. They have 12% in infrastructure and 8% in energy. Moving from the government sector to the private sector and are into Australia, Chile and now Canada. Making inroads into the waste from fracing. Target price of $28. | 2011-12-16 | ||
| BUY | Agrium | AGU-T | 81.260 | Attraction is that its main product is nitrogen which is used in the production of corn and demand will continue to grow in emerging markets. | 2011-11-08 | ||
| SPECULATIVE BUY | Bombardier Inc (B) | BBD.B-T | 4.310 | Is a speculation. You could take a small position. Have the overhang of the ‘C’ series. The market that it addresses is not big enough o make it viable long term. He would not touch it. | 2011-11-08 | ||
| TOP PICK | Bonavista Energy Corp | BNP-T | 26.530 | Cheapest of the 4 he covers. Great land location in Alberta. Drilling inventory of 1350 wells over 5 years or more. Lots of horizontal drilling. | 2011-11-08 | ||
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| BUY | Bank of Nova Scotia | BNS-T | 52.700 | Not in many accounts. Prefers RY, TD and BMO. Under pressure because of trading volumes. Scotia is boosting its presence outside of Canada. You can buy it for the long term. | 2011-11-08 | ||
| BUY | Enbridge | ENB-T | 35.350 | Prefers to TRP but would like to see it a bit cheaper. Great company and an interesting possibility of pipeline from Alberta to BC. | 2011-11-08 | ||
| WEAK BUY | Ford Motor | F-N | 11.610 | He owns GM. Pent up demand in North America. Terrific company going forward but prefers GM. Will be much higher in 3-5 years. | 2011-11-08 | ||
| TOP PICK | Inter Pipeline Fund | IPL.UN-T | 17.800 | Bought in August because it was on sale at that price. Even at today’s price, two things will drive it. Two drivers are (i) and first class management and (ii) businesses they are in: Pipeline (additional pipelines built) and Bulk storage business in UK and Europe. Both are cash cows. Also have liquids business, which is having a tough time. More acquisitions. Further dividend increases. | 2011-11-08 | ||
| BUY | Kinder Morgan Energy | KMP-N | 75.320 | Acquired El Paso and will be the major transporter of oil and gas in the states. There are good opportunities in Canada also. Look at REITs. | 2011-11-08 | ||
| WEAK BUY | Manulife Financial | MFC-T | 12.770 | Was a 2% position but now is less. Underlying business is fine and growing well. The necessity of marking the market because bond prices are low is the problem. 4-5% downside risk both here and in the states. He would buy it here if you want something in this space. | 2011-11-08 | ||
| WEAK BUY | Potash Corp of Saskatchewan | POT-T | 49.620 | If you want to play the overall fertilizer space this will be a good compliment to Atrium but get Atrium first. | 2011-11-08 | ||
| BUY | Power Corp | POW-T | 24.430 | Will raise share price over the next couple of years. Family has to raise the dividends to keep up with the lifestyle. | 2011-11-08 | ||
| BUY | Royal Bank | RY-T | 46.420 | Good entry point. They are probably the leaders in moving over to the wealth business. It is the cheapest of the bunch. | 2011-11-08 | ||
| BUY | Shawcor Ltd. (A) | SCL.A-T | 25.990 | Likes it. Have one a whole much of contracts. Coat pipelines. | 2011-11-08 | ||
| Comment | Trican Well Service Ltd. | TCW-T | 19.000 | Surprising it has not been a good performing stock considering the business they are in. Gaining popularity in shale gas. Would think it would look a lot better. Will look at it when it has proven itself. | 2011-11-08 | ||
| BUY | Teck Resources Ltd. (B) | TCK.B-T | 40.250 | Bought it because one of his investment themes is that you want to own shares in companies that provide commodities that Asia wants. Is a buy here. Price of gold is based on speculation of traders. It has nothing to do with the underlying commodity value in terms of supply and demand. Volatility of commodities is as great as it has ever been. It will be a roller coaster on the way up but demand will eventually develop in emerging markets. | 2011-11-08 | ||
| BUY | Crescent Point Energy Corp | CPG-T | 43.460 | Likes it. Bought most recently 3 or 4 months ago. You have to believe in oil and its future. Continue strategy is to acquire perspective land or companies that have it. They want to become the largest independent oil company in Canada. You could buy it here. On of his top picks is a little cheaper. Be patient with this one because it is expensive by some metrics. | 2011-11-08 | ||
| WEAK BUY | Cineplex Inc | CGX-T | 25.970 | Has been going sideways for a bit. Has been fully pieced but if you want growth and stable income over 3 years then it is for you. Like a lot of high-income stocks, the prices are full because people are chasing yield. | 2011-11-08 | ||
| BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Old pipeline Income Trusts: He owns IPL. IPL will have additional pipelines, he thinks. Leader in bulk liquid storage space, which is a cash cow. | 2011-11-08 | ||
| N/A | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Market: Europe. This is the start of act one of a multi act farce or pantomime. Greeks will be voting Feb 23 and gash knows what is going to happen between now and then. It’s a mess and not sure what people can do to solve it. Nov 23, the super committee is reporting on budget deficits and he is not very hopeful they will come to any resolve. Seeing hopeful signs: Better Q3 earnings and reasonable guidance going into Q4; Slightly better employment picture; Some indication that rental housing market is taking off and will eat in to oversupply of unsold homes. Bought something to day that was down on an earnings miss and was cheap in their eyes. | 2011-11-08 | ||
| WEAK BUY | Ag Growth International Inc | AFN-T | 31.940 | Sold at higher prices, having done well. Top end of the farm equipment business includes Deer. Can be up to $550,000 with Deer. AFN produces equipment ($10k) that gathers wheat up from feels and puts into silos. Steel prices rising hurt the bottom line a bit. If you a have long time horizon you can own the stock, has a descent yield. | 2011-11-08 | ||
| PAST TOP PICK | Uranium Participation Corp. | U-T | 5.860 | (Top Pick Nov 16/10, Down 25.31%) Got out during Japanese disaster. Thinks Uranium stocks are interesting now. Shale gas would make US independent and they would not uranium as much. | 2011-11-08 | ||
| BUY | Scorpio Mining Corp. | SPM-T | 1.960 | Will expand one of their properties buy 50%. Study on the possibility of a 4,000 tone a day mine. You probably wont see much action until Q3 or 4 of 2013. You will see cash flow ramping up to 50 or 60 cents. 10 times cash flow would not be out of the questions. You have to hold it for 2-3 years. | 2011-11-08 | ||
| HOLD | Baxter International Inc | BAX-N | 54.510 | Likes it but will not buy more right now. It’s Christine Pool’s stock. | 2011-11-08 | ||
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| PAST TOP PICK | Flowserve Corp. | FLS-N | 99.980 | (Top Pick Nov 16/10, Down 5.96%) Weren’t helped by the nuclear disaster. Increase in demand from refineries in the middle east and Africa more than offset nuclear. | 2011-11-08 | ||
| TOP PICK | Scorpio Gold Corp. | SGN-X | 0.910 | Chairman took over the company. Is in production, good management team. All sorts of resources that are potential reserves. Took over a past producing property from 1860. Safe area close to infrastructure and great reserve potential. Over 5 years will move from 20K oz to 100k oz. | 2011-11-08 | ||
| WEAK BUY | Arcan Resources Ltd. | ARN-X | 5.640 | One of the companies that fits into CPG’s portfolio. ARN is producing and CPOG owns 19.9%. CPG will likely take them over as they develop. | 2011-11-08 | ||
| PAST TOP PICK | Tetra Tech Inc. | TTEK-Q | 22.200 | (Top Pick Nov 16/10, Down 5.73%) In 3 years will be 60 percent in the private sector. Expanded into Canada for mining and recycling of water. | 2011-11-08 | ||
| TOP PICK | Agrium | AGU-T | 68.700 | Specializes in nitrogen fertilizer, which is terribly important for corn crops. Becoming a world leader in wholesale/retail in all sorts of goods. | 2011-10-04 | ||
| PAST TOP PICK | Bank of Montreal | BMO-T | 56.930 | (A Top Pick Oct 12/10. Up 0.03%.) | 2011-10-04 | ||
| Comment | Deere & Co. | DE-N | 63.480 | Demand for Deere equipment on a worldwide basis, will be substantial. If you have a 3 year time horizon, by all means buy this. Whether you buy today or next week will depend on your short-term view of the market. (See Top Picks.) | 2011-10-04 | ||
| Comment | Great West Lifeco | GWO-T | 19.860 | His preferred choice is to get this through Power Financial (PWF-T). Probably the most conservatively run of the life companies. | 2011-10-04 | ||
| TOP PICK | Inter Pipeline Fund | IPL.UN-T | 15.610 | (A Top Pick Oct 12q/10. Up 27.26%.) Have several pipelines in the oil sands and will be adding more, which will be the prime mover of growth. His target is $17 plus. With a potential capital gain from here, plus the dividend, you are looking at 13%-15% return. | 2011-10-04 | ||
| DON'T BUY | Manulife Financial | MFC-T | 11.390 | He is looking for an opportunity to sell his holdings. If interest rates are kept low for the next couple of years, it will not help this company, which has exposure to the bond market and the equity markets. | 2011-10-04 | ||
| BUY | Power Financial Corp | PWF-T | 24.450 | Owns Mackenzie Funds, Great West Life (GWO-T) and IGM Financial (IGM-T). Sells at a discount to its NAV. Looking at its dividend and its consistent growth, this is a great way to go. | 2011-10-04 | ||
| Comment | Research In Motion | RIM-T | 22.200 | Good speculation at this point based on the value of its patents and on the ongoing basis of its subscriber fees. Also massive growth opportunities in developing nations. If you are speculator, take a shot. | 2011-10-04 | ||
| BUY | Royal Bank | RY-T | 45.950 | His 2 favourite banks are this one and TD (TD-T). Looking at the consensus target price and the consensus target return, you've got 24%-25% growth over the year. Cheap. At the bottom of the Bollinger band line. | 2011-10-04 | ||
| STRONG BUY | Teck Resources Ltd. (B) | TCK.B-T | 30.990 | If you have a 3 year view, if If you have a 3 year view, this is a screaming Buy/ | 2011-10-04 | ||
| BUY | Crescent Point Energy Corp | CPG-T | 37.490 | Likes the company. Good management. Operating philosophy is to acquire prospective land, companies with highly prospective land and production. Their goal is to become the preeminent producer in North America. Expensive by some metrics, BOE per day relative to enterprise value. Price to cash flow ratio may be on the high side but a prying name for participation in oil and gas. | 2011-10-04 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Markets. Over the next 20 years, emerging markets will be the driving force for world growth. It won't be in a straight line. There will be ups and downs. Right now we are perhaps going into a slight slowing period. | 2011-10-04 | ||
| BUY | Daylight Energy Ltd | DAY-T (Dead) | 4.580 | Taking the past peak price of oil, $40 in 1980, and inflating it at 2.5%, you would have a price of $88. Feels that oil is undervalued. Daylight is doing all the right things fundamentally, however the complaint is too much debt relative to the amount it wants to spend on development, lands, acquisitions, etc. He disagrees with this and remains a staunch buyer. Could be a cut in distribution. | 2011-10-04 | ||
| PAST TOP PICK | Uranium Participation Corp. | U-T | 5.170 | (A Top Pick Oct 12/10. Down 17.42%.) | 2011-10-04 | ||
| BUY | Scorpio Mining Corp. | SPM-T | 1.610 | 2 properties in Mexico. Will move into the ranks of a top grade, intermediate producer in 2-3 years. | 2011-10-04 | ||
| Comment | Veolia Environnement | VE-N | 13.990 | Waste management, water, etc. 70% of its business is in Europe, most of which is France. Prefers something more broadly diversified on a global basis. If you own, consider switching into his Top Pick. | 2011-10-04 | ||
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| TOP PICK | Tetra Tech Inc. | TTEK-Q | 18.570 | In the study, feasibility, design and manufacturing of all types of water facilities including infrastructure, water purification, etc. Looking for $28-$30 a share. Will probably report $1.40 in earnings this year and $1.60 plus next year. | 2011-10-04 |
