| TOP PICK | | Bombardier Inc (B) | BBD.B-T | 7.400 | Great company. There have been improvements in margins, all-time high in order books and improving their debt. Possibly start paying dividends because of their large cash flow. | 2008-05-21 | |
| TOP PICK | | Research In Motion | RIM-T | 131.180 | Even though he is not a momentum person, this is a momentum play. Likes the business model and how they have installed their subscriber base globally. Penetration rate for this type of product is very interesting. Likes to buy on weakness. | 2008-05-21 | |
| TOP PICK | | Encana Corp | ECA-T | 93.610 | Talking of splitting into 2 companies. Oil and natural gas, which will make them stronger. He likes this. | 2008-05-21 | |
| PAST TOP PICK | | Alcan Aluminum | AL-T | 97.500 | (A Top Pick Nov 23/05. Up 130% at the point that Rio Tinto (RTP-N) acquired it. | 2008-05-21 | |
| PAST TOP PICK | | Four Seasons Hotel | FSH-T | 90.720 | (A Top Pick Nov 23/05. Up 53% at the point it was acquired.) | 2008-05-21 | |
| PAST TOP PICK | | Shaw Communication (B) | SJR.B-T | 20.500 | (A Top Pick Nov 23/05. Down 6%.) Still likes. | 2008-05-21 | |
| BUY | | Alcoa | AA-N | 41.700 | Good benchmark of what you need to do if you believe in worldwide growth. | 2008-05-21 | |
| PARTIAL SELL | | Talisman Energy | TLM-T | 23.650 | If he owned, he would lighten up at this time. There are still question marks on this company. New management has been pretty clear on what they intend to do with the company. There are uncertainties around their plans. | 2008-05-21 | |
| BUY | | Saputo Inc. | SAP-T | 25.750 | Would recommend holding this is a core position in your portfolio. This is one that he would not trade. Very impressed with the performance of this company. | 2008-05-21 | |
| BUY | | Kinross Gold | K-T | 21.040 | Gold prices are too low and holding it acts as an insurance policy in your portfolio. This company should benefit when they go up. | 2008-05-21 | |
| SELL | | Suncor Energy Inc | SU-T | 70.980 | Q: - Why is it selling at 22X earnings versus Petro Canada (PCA-T) at 8X earnings? A: - Because of quality of assets and their oil sands reserves as well as the results by both companies and the perception by investors. He feels that now is the time to be selling energy stocks, which would include both of these companies. | 2008-05-21 | |
| BUY | | BCE Inc. | BCE-T | 37.120 | He assumes that the deal has a probability of success greater than 50% at $42.75. There could be glitches such as postponements, re-pricing or cancellation. If the latter, price could drop to $26 but would eventually recover to its true value of $32. | 2008-05-21 | |
| Comment | | Telus Corp | T-T | 47.920 | Increase in stock relies on many factors including wireless business, where the Source license will go and also what happens to Bell Canada (BCE-T). If the BCE deal goes through, what will the new management have on the telecom landscape. | 2008-05-21 | |
| BUY | | Brookfield Asset Management (A) | BAM.A-T | 34.870 | Trading at 40X forward earnings and 3.3X price to book. Price/earnings on this type of company is not as important as others because it is a portfolio of activities. The company has done great things. A core holding you should have in your portfolio. 1.5% dividend yield. | 2008-05-21 | |
| BUY | | CGI Group (A) | GIB.A-T | 10.250 | Very attractive at the current price especially in this environment where there is a fight between Hewlett-Packard (HP-N) and IBM (IBM-N). Generates good cash flow. | 2008-05-21 | |
| BUY | | Cisco | CSCO-Q | 25.370 | If you want to start technology in the US and global environment, this is a great pick at the current price. Dominant player in their own field. Very high-quality company. Strong management. | 2008-05-21 | |
| Comment | | Nortel | NT-T | 8.010 | Could be a Buy at this time, but something tells him there is more restructuring to do in that sector. Looking at a chart and its valuation, it is very attractive. | 2008-05-21 | |
| BUY | | Sherrit | S-T | 15.180 | Having their shareholder meeting tomorrow and he is not expecting much from this. This is a good proxy of what you see in the commodity field. Cuba will eventually change and this company will benefit. | 2008-05-21 | |
| BUY | | Sierra Wireless | SW-T | 16.580 | (Market Call Minute.) Cheap. | 2008-05-21 | |
| SELL | | Kingsway Financial Services | KFS-T | 9.610 | (Market Call Minute.) Too complicated. | 2008-05-21 | |
| BUY | | Manulife Financial | MFC-T | 37.860 | (Market Call Minute.) High quality company. | 2008-05-21 | |
| BUY | | Shoppers Drug Mart Corp | SC-T | 54.410 | (Market Call Minute.) | 2008-05-21 | |
| BUY | | BCE Inc. | BCE-T | 27.900 | Pretty cheap price. A lot of volume as too many people had got out and were going back in. | 2005-11-23 | |
| TOP PICK | | Alcan Aluminum | AL-T | 43.400 | It's not that expensive and gives a good dividend. If you believe in growth in the world wide economy, this company can and will benefit from it. Had been troubled by the cost of energy. If we are in a plateau for energy prices now, you have a new cost base and demand is still out there. | 2005-11-23 | |
| WAIT | | Placer Dome | PDG-T | 25.300 | A speculation. Barrick ABX-T) is the obvious fit for this company because of the synergies. Wait foir anothr $2/3 from the current level. Let the deal go through and then see hwo it goes with the gold sector. | 2005-11-23 | |
| BUY | | TSX Group | X-T | 38.190 | The governments declaration on income trusts is good news for the market in general. This stock has a great growth profile. | 2005-11-23 | |
| TOP PICK | | Shaw Communication (B) | SJR.B-T | 24.000 | Quality management. Has a reputation for good operational margins. Have a good focus. | 2005-11-23 | |
| HOLD | | Jean Coutu Group (PJC) (A) | PJC.A-T | 13.090 | Have to turn the Eckard situation around in the US. A tough one to do. At the current price, the stock is attractive. | 2005-11-23 | |
| BUY | | Royal Bank | RY-T | 87.800 | Positive on the Canadian banks in general. A keeper. Pays a good dividend. | 2005-11-23 | |
| TOP PICK | | Four Seasons Hotel | FSH-T | 59.190 | Looking at its price/earnings ratio, historically it's always been high because of the quality of the company and the special niche they have. Finds it attractive at the current level. There is some global activity. | 2005-11-23 | |
| BUY | | Cognos | CSN-T | 40.370 | A high quality name. Good growth company in the business intelligence segment of the market. It's a pretty fragmented market, so they can achieve a good growth profile. Have a very interesting family of products and software. | 2005-11-23 | |
| BUY | | Bank of Nova Scotia | BNS-T | 46.250 | This is a keeper. If we had a recession in 2006, that would be the major risk for the banks. (He doesn't forcast that but a slower type of economy.) | 2005-11-23 | |
| BUY | | Ivanhoe Mines | IVN-T | 9.080 | This is a stock that can move 50% up or down. He believes the base metal industry has a ways to go up because of the supply/demand picture. | 2005-11-23 | |
| BUY | | Royal Bank | RY-T | 83.570 | One of the best banks you can find in the world. Good dividend yield. | 2005-10-17 | |
| BUY | | Laurentian Bank | LB-T | 30.490 | A contrarian pick. Has beeen neglected. May not be the best bank, but an interesting one tht has been forgotten. | 2005-10-17 | |
| BUY | | LionOre Mining International | LIM-T | 5.640 | Even though he's defensive on the economy and the stock market, he believes the metal group is still something you should keep as there is some activity in the industry. This could end up as part of the activity going on with Falconbridge (FAL.LV-T) and Inco (N-T). | 2005-10-17 | |
| BUY | | Jean Coutu Group (PJC) (A) | PJC.A-T | 16.000 | It will probably take them a year before everything is fine. The process they are going through will take some time. They have great potential. | 2005-10-17 | |
| BUY | | Celestica Inc | CLS-T | 12.670 | The industry has been a big disappointment. Going through a readjustment. Has beeen neglected. Not expensive. | 2005-10-17 | |
| WAIT | | Nortel | NT-T | 4.100 | From what he knows now, he can see another $1 on the stock price, but he doesn't have enough information to be precise. New CEO, so you have to at least see him showing his teeth in the next 3/6 months. | 2005-10-17 | |
| HOLD | | Brookfield Properties | BPO-T | 33.570 | Real estate and interest rates historically has an inverse relationship. This time you have a monetary policy that is driven by the US fed. Rates are going up because of possible inflation and everybody is aware of rate increases, so business plans can be adjusted accordingly. A high quality company. Good dividend yield. | 2005-10-17 | |
| HOLD | | Potash Corp of Saskatchewan | POT-T | 98.740 | Took a big drop because the stock was too expensive. It is now back roughly to fair value. A high quality company. | 2005-10-17 | |
| BUY | | Alcan Aluminum | AL-T | 38.700 | A good time to get in. The stock is down because the market is concerned about cost pressures. This is a nice play for metals. Looking for the metals to being pretty strong starting in November and ending in February. | 2005-10-17 | |
| WEAK BUY | | Forzani Group | FGL-T | 12.750 | Doesn't see much growth in the short term. On a long term basis, it should do well. Somewhat risky. | 2005-10-17 | |
| PAST TOP PICK | | Bombardier Inc (B) | BBD.B-T | 2.680 | (Past Top Pick April 18/05. Up 6%.) Had a target of $3 and when it crossed that, he sold it. Now back to an interesting level and have started to buy it back. | 2005-10-17 | |
| PAST TOP PICK | | Open Text | OTC-T | 16.130 | (Past Top Pick April 18/05. Down 17%.) Made a wrong call on this one. It is attractive at the current level. One of the cheapest softwares you can find around. It has problems that he had underestimated. Didn't sell. Believes there is some potential here, but only for people who like risks. | 2005-10-17 | |
| PAST TOP PICK | | AbitibiBowater Inc. | ABH-T | 3.920 | (Past Top Pick April 18/05. Down 28%.) Didn't like it when they sold their Asian assets. | 2005-10-17 | |
| TOP PICK | | Ivanhoe Mines | IVN-T | 9.340 | Likes this for its reserves in Mongolia and its proximity to the Chinese market. Expects a deal to come through with a big mining house before next year. Has one of the best deposits you can find. There is more of a need for base metals. | 2005-10-17 | |
| BUY | | Domtar Inc. | DTC-T | 6.640 | One of the highest quality companies you can find in the paper industry. Trading below book value. Cash flow is OK. Has a dividend. | 2005-10-17 | |
| HOLD | | Petro-Can | PCA-T | 43.200 | Based on his defensive view on the sector in general and looking at oil at $60 as a base, this is an interesting investment because of the cash flow the company will produce. He wouldn't buy, but would hold. | 2005-10-17 | |
| HOLD | | BCE Inc. | BCE-T | 30.350 | If Ottawa makes it tougher on income trusts this could be a positive on dividend stocks. Holds this in his portfolio as a defense in case the market should go down. Dividend yield of 4.25%. Will not do great in a bull market. | 2005-10-17 | |
| DON'T BUY | | Fording Canadian Coal Trust (Inc Trust) | FDG.UN-T | 47.500 | A good company, but with his feeling on a weakening energy sector, be defensive. If the cash flow is hurt, this trust could be hurt. Be cautious. | 2005-10-17 | |
| HOLD | | Agrium | AGU-T | 24.300 | The stock went too high. People got overwhelmed by the good results. It will be a victim of cost pressure. At it's fair value now. | 2005-10-17 | |
| BUY | | Cognos | CSN-T | 44.000 | A good entry point. One of the highest quality software companies in Canada. A good long term hold. | 2005-10-17 | |
| HOLD | | Telus Corp | T-T | 47.150 | Targeted by other companies that want to have Voice Over Interenet. Their wireless business is doing very well. Fair value now. | 2005-10-17 | |
| BUY | | Methanex Corp | MX-T | 17.110 | Not expensive at 10 X earnings. Good dividend. A cyclical stock. | 2005-10-17 | |
| TOP PICK | | Research In Motion | RIM-T | 76.930 | Wireless is here to stay. They have a great installed base. Good technology. Good price. | 2005-10-17 | |
| TOP PICK | | ATS Automation | ATA-T | 14.780 | It went up to $17, but for the wrong reason. Not for their automation, but for their solar business. Has a value of this company of $18, but has a feeling that it's a worth a lot more than that. | 2005-10-17 | |
| DON'T BUY | | Tembec Inc. | TMB-T | 3.680 | A risky situation based on the strong Cdn$ and duties on lumber. | 2005-07-14 | |
| DON'T BUY | | Thomson Reuters Corp | TRI-T | 41.010 | A great Canadian company with a world wide presence. Stock is not doing very well because it is always expensive. Trading at 20 X earnings. Good dividend yield at over 2%. | 2005-07-14 | |
| TOP PICK | | Bombardier Inc (B) | BBD.B-T | 2.840 | Exclude any valuation on the C series project. Likes because there is an improvement in the margins of the main transportation business. Has cash flow. Financial problems are behind them. | 2005-07-14 | |
| BUY | | BCE Inc. | BCE-T | 29.280 | A good holding for those that don't like risks. Good dividend. Great brand name. Too neglected by the market. | 2005-07-14 | |
| BUY | | ATI Technologies | ATY-T | 15.830 | This is a good entry point. Be prepared to see another minus 10/15%. The potential is a $5 increase. | 2005-07-14 | |
| TOP PICK | | Jean Coutu Group (PJC) (A) | PJC.A-T | 18.710 | The easiest way to play the age demographics. Instead of buying biotechs and pharma stocks, a drug store is a better choice. The buying of Ekards in the US was a real coup. Patience will pay. A good investment. | 2005-07-14 | |
| BUY | | Alcan Aluminum | AL-T | 38.590 | A great buy. If you are a short term investor who likes to trade, the price is pretty attractive. For a long term investor, it's a good one to have in the portfolio. | 2005-07-14 | |
| BUY | | Westaim Corp | WED-T | 4.220 | There's so much potential in the flat panel business, but a lot of competition also. Now that it's gone through $4, it's a Buy, but there is a risk attached to it. | 2005-07-14 | |
| TOP PICK | | Ballard Power Systems | BLD-T | 6.170 | With the oil price at $60 anything in alternative energy should have a lot of appeal. Has been around for quite a while, so not just a start up company. Good partners. Not a trading stock. Be prepared to have patience. | 2005-07-14 | |
| BUY | | CCL Industries (B) | CCL.B-T | 27.500 | A great company If you are a trader, sell it, but if you are a long term investor, keep it and you will not be disappointed. Good yield. | 2005-07-14 | |
| HOLD | | Tembec Inc. | TMB-T | 3.500 | The forest products is one sector that has not done well in the strong markets in the last few years. Very cheap, but there are reasons for that. All kinds of problems. Very risky. | 2005-05-31 | |
| BUY | | Alcan Aluminum | AL-T | 37.800 | On a scale of 1 to 10 as a risk factor, Alcan would be a 5. Stock hasn't done very well and the current price is pretty attractive. Great balance sheet. Great world wide presence in the aluminum market. | 2005-05-31 | |
| TOP PICK | | Bombardier Inc (B) | BBD.B-T | 2.410 | The airplane manufacturing is something for the future, so taking it out of the equation you still have transportation and they will surprise us on the plus side with improved operating margins. Good contract today with China. On the aerospace side, they still have the business jet. At the current price, it is an attractive stock. Management is buying stock. | 2005-05-31 | |
| HOLD | | Bank of Nova Scotia | BNS-T | 39.750 | Q: Bought both Bank of Nova Scotia (BNS-T) and Royal Bank (RY-T). Nova Scotia has not moved, but Royal has done well. A: Owning both is a good move. Nova Scotia has expertise outside the country with a great cost structure while Royal has a North American strategy and a great brand name. With both together, you'll get a better return for the risk. | 2005-05-31 | |
| HOLD | | Royal Bank | RY-T | 75.000 | Q: Bought both Bank of Nova Scotia (BNS-T) and Royal Bank (RY-T). Nova Scotia has not moved, but Royal has done well. A: Owning both is a good move. Nova Scotia has expertise outside the country with a great cost structure while Royal has a North American strategy and a great brand name. With both together, you'll get a better return for the risk. | 2005-05-31 | |
| BUY | | IPSCO Inc | IPS-T | 64.560 | Based on their forward earnings, it is a buy. Well managed. You could get a 15% increase from the current price. | 2005-05-31 | |
| TOP PICK | | Open Text | OTC-T | 20.220 | Troubles are not over, but at a good price to buy it back. The problem is not the company, but is the stock market and giving guidelines. One time they gave wrong guidelines and investors don't like this. At the current price, the stock has great potential. | 2005-05-31 | |
| BUY | | Research In Motion | RIM-T | 104.560 | The fundamentals of the industry related to this company is fantastic. Agrees that there is more competition coming right and left, but that proves that their tool for communication is a fantastic one. | 2005-05-31 | |
| HOLD | | Dorel Industries (A) | DII.A-T | 43.000 | Not an expensive stock for the power of earnings they have. Have been pretty pro-active in using planned capacity in China to make sure they have the optimal cost structure. A good long term hold. | 2005-05-31 | |
| TOP PICK | | Domtar Inc. | DTC-T | 9.400 | Good management. Has less debt than other forest product companies. Under $10, you have a great opportunity here. | 2005-05-31 | |
| HOLD | | Canadian National R.R. | CNR-T | 76.800 | Great quality Canadian company. Traffic is up in the rail business in North America. Very well managed. | 2005-05-31 | |
| BUY | | Cemex SA | CX-N | 38.200 | Good dividend yield. Trading at about 9 or 10 X earnings. | 2005-05-31 | |
| BUY | | Encana Corp | ECA-T | 80.520 | One of the best quality oil & gas, mainly gas stocks. Admires the way they have managed their assets, being focused and their growth strategy. Thinks they will do better than the stock market. One of the best reserve base and reserve growth. | 2005-04-18 | |
| BUY | | Canadian Tire Corporation Ltd. (A) | CTC.A-T | 59.640 | Good business plan. | 2005-04-18 | |
| BUY | | Gildan Activewear Inc. | GIL-T | 54.450 | A slow grower, but hopefully stable. Had problems with labour practices, but that is now behind them. | 2005-04-18 | |
| HOLD | | Linamar Corp | LNR-T | 13.180 | Good management. Company is sensitive to the ecocnomy. The automobile sector is pretty tough. Good Assets. | 2005-04-18 | |
| BUY | | Hudson Bay Co. | HBC-T | 12.770 | Still has some upside in it. As a merchandiser, it's going in the right direction. There will be some misses. | 2005-04-18 | |
| BUY | | Barrick Gold | ABX-T | 28.130 | You should have some gold in your portfolio for diversification. Would start with a big gold company like this. | 2005-04-18 | |
| PAST TOP PICK | | ATS Automation | ATA-T | 13.320 | (Was a Top Pick Jan 13/05. Up 11%.) Still likes. Their solar division is creating the activity in the stock. | 2005-04-18 | |
| PAST TOP PICK | | Ivanhoe Mines | IVN-T | 8.370 | (Was a Top Pick Jan 13/05. Up 5%.) A great mining stock. | 2005-04-18 | |
| PAST TOP PICK | | CAE Inc | CAE-T | 5.700 | (Was a Top Pick Jan 13/05. Up 14%.) Feels more knowledge will be neededd to pilot the new airplanes. New management. Expects positive surprises. | 2005-04-18 | |
| BUY | | Westjet Airlines | WJA-T | 15.690 | Good strategy and culture. Good price. | 2005-04-18 | |
| BUY | | A Comment -- General Comments From an Expert | A Commentary | 23.210 | Buying the minority shareholding of Falconbridge (FL-T), possibly to look more attractive to the Chinese buyers. | 2005-04-18 | |
| BUY | | JDS Uniphase | JDU-T | 2.170 | In a new technology cycle, this one will probably be the last one to move. Went through many difficulties. | 2005-04-18 | |
| BUY | | Jean Coutu Group (PJC) (A) | PJC.A-T | 19.000 | Buying the US assets was a tremendous coup. The potential of earnings for the next 5 years is amazing.y | 2005-04-18 | |
| HOLD | | Falconbridge Ltd | FAL-T | 41.100 | Q: Should I sell on the open market or tender to Noranda (NRD-T)? A: Tender it to Noranda. This will put you into a new company which is bigger with some good potential and a more attractive company for a take-over target. | 2005-04-18 | |
| BUY | | Thomson Reuters Corp | TRI-T | 39.390 | Have had some pressures on their margins. It looks too expensive on a Price/Earnings basis. Convinced that the company will surprise investors. An investment to hold not trade. | 2005-04-18 | |
| HOLD | | Bank of Montreal | BMO-T | 56.110 | A great bank. Good asset base in both Canada and the US (through their Harris Bank holdings). Very interesting attractive structure. Expects a 5/7% return, like the other banks. | 2005-04-18 | |
| BUY | | Alcan Aluminum | AL-T | 43.300 | Sees a great future for this company. Aluminum is part of their outlook that mining should do better. Attractive at the current levels for both long term holders and traders. | 2005-04-18 | |
| BUY | | Novelis Inc. (bought by Hindalco an Indian based compa | NVL-T | 26.880 | Likes this along with Alcan (AL-T). | 2005-04-18 | |
| WEAK BUY | | Nortel | NT-T | 3.210 | The problem he has with this company is that he does not have all the tools to make knowledgable decisions. Income statements, balance sheets, etc. Still a lot of work to do there. If a choice between a Buy and a Sell, he would be a Buy. | 2005-04-18 | |
| TOP PICK | | Bombardier Inc (B) | BBD.B-T | 2.460 | A contrarian play. 2 segments are pretty attractive for the next 10 years, aerospace and transportation. | 2005-04-18 | |
| TOP PICK | | Open Text | OTC-T | 19.260 | Attractive at the current price. Could be a takeover target some day. | 2005-04-18 | |
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