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| Ray Steele of Mavrix Fund Management |
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| BUY | Barrick Gold | ABX-T | 30.850 | Positive on gold and this is one of the biggest producers in the world. | 2005-03-17 | ||
| WEAK BUY | Alcan Aluminum | AL-T (Dead) | 48.390 | More of a consumer metal versus an industrial metal, so not as keen on it as nickel, copper or coal. However the global economy play is going to affect aluminum as well. | 2005-03-17 | ||
| BUY | Amgen Inc. | AMGN-Q | 58.950 | Likes the stock. The sector has been weak over the last few months. Has a pretty full pipeline of stuff that could surprise us. Trades at a reasonable multple. | 2005-03-17 | ||
| BUY | ATI Technologies | ATY-T (Dead) | 20.640 | In a constant battle with Nvidia (NVDA-Q) to see who can come out with the fastest, smallest graphic device. This one's in the lead. Somewhat contiguous on the next generation they're dashing towards. Have a great track rfecord of keeping ahead of Nvidia. Graphics market continues to grow. | 2005-03-17 | ||
| PAST TOP PICK | Bristol Myers Squibb | BMY-N | 24.160 | (Past Top Pick Nov 3/04. Up 1%.) Likes the health care sector and the drug makers have been under fire for years and this company has weathered the storm quite well. Decent dividend yield. Solid earnings. | 2005-03-17 | ||
| BUY | Bank of Nova Scotia | BNS-T | 40.330 | Q: Buy Bank of Nova SCotia (BNS-T) or CIBC (CM-T)? A: Tough call. Would buy the one having the most negative press recently. It would probably be Bank of Nova Scotia because their Latin America holdings have been a bit of a drag. Really a coin toss. | 2005-03-17 | ||
| WEAK BUY | CAE Inc | CAE-T | 5.340 | There's been signs of improvement. A safer place if you want exposure to the airline industry. | 2005-03-17 | ||
| WEAK BUY | Cameco Corporation | CCO-T | 55.300 | Long term outlook is excellent. There were plans to de-commission a number of nuclear plants around the world, but with the high price of oil/gas, they are not going to be de-commissioned. Short term, the stock looks fully valued. | 2005-03-17 | ||
| TOP PICK | Check Point Software Tech | CHKP-Q | 21.160 | Provide security for network communications. One of the leaders in their area. Growth rate has been tremendous. Good earnings. | 2005-03-17 | ||
| DON'T BUY | Celestica Inc | CLS-T | 16.480 | Keen on the tech sector because of the good values. This one is further removed from the food chain, so there are better things to invest in right now, such as Intel (INTC-Q) or Dell (DELL-Q), Cisco (CSCO-Q). It will do well later on in the cycle. | 2005-03-17 | ||
| BUY | Canadian Imperial Bank of Commerce | CM-T | 72.600 | Q: Buy Bank of Nova SCotia (BNS-T) or CIBC (CM-T)? A: Tough call. Would buy the one having the most negative press recently. It would probably be Bank of Nova Scotia because their Latin America holdings have been a bit of a drag. Really a coin toss. | 2005-03-17 | ||
| BUY | Glamis Gold | GLG-T-X | 20.220 | Positive on gold. A 2nd tier gold company compared to Placer (PDG-T) and Barrick (ABX-T). Expects to see more consolidation later on in the cycle and this is one that will take part. | 2005-03-17 | ||
| BUY | General Motors Corporation | GM-N | 28.350 | A contrarian pick. Have cut production instead of creating incentives to get rid of current stock. Dividend yield is high at 7.1%. Has $100US per share in cash. Good price. Could be another round of weaknes if their bond rating is dropped. Bad news is behind it. | 2005-03-17 | ||
| BUY | Kingsway Financial Services | KFS-T | 19.240 | Outlook is quite positive. Met their expectations on earnings. | 2005-03-17 | ||
| TOP PICK | Motorola | MSI-N | 15.160 | A supplier of not just wireless hand sets, but also all the infrastucture that makes wireless networks work. Stock has dropped a bit. Good earnings potential. Reasonable valuation. | 2005-03-17 | ||
| BUY | National Bank of Canada | NA-T | 55.010 | Has done well over the last 6 months. As long as it sticks to its knitting, it should perform well. | 2005-03-17 | ||
| BUY | Nova Chemicals Corp. | NCX-T | 55.720 | The biggest chemical producer in Canada. Chemicals are a commodity that are in demand globally. Well positioned. A low cost producer. Have some long term contracts. Outlook is positive. | 2005-03-17 | ||
| PAST TOP PICK | Nortel | NT-T (Dead) | 3.450 | (Past Top Pick Nov 3/04. Down 19%.) Bought more when it drifted down below $4. A contrarian play. Outlook for it is improving. | 2005-03-17 | ||
| BUY | Open Text | OTC-T | 20.950 | Beat the street with their earnings. Has been some good research on it. Have good products. The sector has been under pressure in general. Worthy of being in a portfolio of tech stocks. | 2005-03-17 | ||
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| PAST TOP PICK | PMC Sierra Inc | PMCS-Q | 9.070 | (Past Top Pick Nov 3/04. Down 14%.) Outlook for the chip makers has started to improve. | 2005-03-17 | ||
| BUY | Shaw Communication (B) | SJR.B-T | 24.660 | The cable companies versus the telcos is interesting. Looking at the risk/reward, the balance seems to lean more towards the cable companies. Telecoms are trying to compete with the cable companies, but the market for telcom is enormous compared to the market for cable. If Shaw steals 10% of a phone company's business and a phone company steals 20% of Shaw's business, Shaw is going to come out way ahead. | 2005-03-17 | ||
| BUY | SNC-Lavalin Group Inc. | SNC-T | 69.860 | A steady grower, steady performer. A good long term holding. Outlook for the next few years continues to be positive. | 2005-03-17 | ||
| BUY | Sherritt International Corp. | S-T | 10.630 | Have taken some strong steps to diversify out of Cuba and into coal, etc. in Canada. | 2005-03-17 | ||
| HOLD | West Fraser Timber | WFT-T | 53.500 | Q: Sell? A: A sector that is very much out of favour, but looking at the stock, it's trading at a PE of only 10 times in spite of the fact of duties and countervailing duties. If that ever gets sorted out the Canadian lumber industry can really make a lot of money. A very strongly run company. | 2005-03-17 | ||
| BUY | TSX Group | X-T | 61.250 | Price is reasonable. Removal of restrictions on foreign ownership should mean less trading in Canada, but there's a lot of foreign interest in our stock market because of resources. Haven't seen a lot of IPO's yet and that will have a big impact on the TSX. | 2005-03-17 | ||
| BUY | Vale S.A. | VALE-N | 33.680 | Just renewed their contracts and prices are up a lot. Believes this is a secular trend that will be up for a few years. Demand for iron ore will be strong and this company is the biggest supplier. | 2005-03-17 | ||
| BUY | Major Drilling Group International Inc | MDI-T | 14.410 | Not keen on the oil/gas sector, but the drillers should do very well. Any kind of drilling, oil or metals, should do very well over the next few years. | 2005-03-17 | ||
| BUY | A Comment -- General Comments From an Expert | A Commentary | 24.950 | Outlook for the mining sector is strong. This is one of the key players in Canada. Should do very well and is a good buy. | 2005-03-17 | ||
| BUY | Allamerica Financial | AFC-N (Dead) | 31.020 | With all the problems of Enron, hurricanes, etc. insurance companies have been able to raise their rates. | 2004-11-03 | ||
| HOLD | AbitibiBowater Inc. | ABH-T (Dead) | 7.310 | Waiting to see a rebound in newsprint prices. Expects to see some increases in prices of forest products next year. | 2004-11-03 | ||
| DON'T BUY | Bombardier Inc (B) | BBD.B-T | 2.710 | Has taken on significant debt. Airline business is in trouble. May be a couple of years before there is any dramatic improvement. | 2004-11-03 | ||
| BUY | Cott Corp | BCB-T | 29.900 | Have had a tough summer because of crappy weather. Pop sales have been poor. SHould recover. | 2004-11-03 | ||
| TOP PICK | Bristol Myers Squibb | BMY-N | 23.760 | Drug stocks all declined in sympathy when Merck pulled their Vioxx. Dividend yield of nearly 5%. | 2004-11-03 | ||
| VAGUE | Cameco Corporation | CCO-T | 100.100 | Uranium prices have doubled and the outlook continues to be good. | 2004-11-03 | ||
| DON'T BUY | Celestica Inc | CLS-T | 17.540 | A later cycle beneficiary of increased demand for technology products. Too early. | 2004-11-03 | ||
| BUY | CitiGroup | C-N | 45.290 | An attractive place to be. A class act in the financial services area. | 2004-11-03 | ||
| BUY | Domtar Inc. | DTC-T | 14.930 | Outlook is quite good. Good contrarian buy. Expects dramatic improvement for the whole sector. | 2004-11-03 | ||
| BUY | Fording Canadian Coal Trust (Inc Trust) | FDG.UN-T | 75.000 | Keen on the price of coal. | 2004-11-03 | ||
| DON'T BUY | Husky Energy | HSE-T | 30.850 | Not a fan of oils at this time. Will consider them when the price of the commodity drops well below $40.An appropriate time to take some profits and reduce your holdings. | 2004-11-03 | ||
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| BUY | Kingsway Financial Services | KFS-T | 17.700 | With all the problems of Enron, hurricanes, etc. insurance companies have been able to raise their rates. Outlook continues to be quite positive. | 2004-11-03 | ||
| WEAK BUY | Manitoba Telecom Services | MBT-T | 42.970 | Like most telecoms, good in a portfolio. Dividend. Safe. Nothing spectacular. | 2004-11-03 | ||
| PAST TOP PICK | Motorola | MSI-N | 16.700 | (A Top Pick July 12/04. No change.) Still likes | 2004-11-03 | ||
| PAST TOP PICK | Merck & Company | MRK-N | 27.870 | (A Top Pick July 12/04. Down 40%.) Sold out before the big drop. | 2004-11-03 | ||
| BUY | Microsoft | MSFT-Q | 28.470 | A core holding for a tech. Tremendous business model. Great cash flow. | 2004-11-03 | ||
| BUY | Nokia | NOK-N | 15.790 | Likes the wireless stocks. Outlook for the group is positive. Near the bottom of its range and the earnings outlook is starting to improve. | 2004-11-03 | ||
| TOP PICK | Nortel | NT-T (Dead) | 4.270 | Outlook for telecom spending, especially wireless is quite positive. Good price. Feels that anything else that is going to come out on the accounting will be minor. | 2004-11-03 | ||
| BUY | Placer Dome | PDG-T | 25.690 | In general, the outlook for gold stocks looks pretty good. Expects large companies will add to their production by acquisition of juniors. | 2004-11-03 | ||
| TOP PICK | PMC Sierra Inc | PMCS-Q | 10.580 | Stock has come off quite a bit. The outlook is starting to improve. | 2004-11-03 | ||
| VAGUE | Research In Motion | RIM-T | 102.140 | A great product, but a very expensive stock. Doesn't follow. | 2004-11-03 | ||
| HOLD | Stelco Inc | STE-T | 1.230 | Struggling through bankruptcy. Commodity prices have improved dramatically. Still have problems with their personel and energy costs. | 2004-11-03 | ||
| BUY | Sierra Wireless | SW-T | 22.030 | Wireless area has been performing quite well. Great trading stock. | 2004-11-03 | ||
| WAIT | Talisman Energy | TLM-T | 31.800 | Not a fan of oils at this time. Will consider them when the price of the commodity drops well below $40. Have a good strategy. | 2004-11-03 | ||
| PAST TOP PICK | Marvel Enterprises Inc | MVL-N | 17.100 | (A Top Pick July 12/04. Up 2.5%.) Still likes. | 2004-11-03 | ||
| TOP PICK | Cisco | CSCO-Q | 20.460 | The bellweather of US technology. Sees some rally coming. Buy and hold for a year or two. Cheap. 20% plus growth. | 2004-09-10 | ||
| STRONG BUY | Genesis Microchip | GNSS-Q | 11.910 | There is some weakness in computer flat panels but the TV side is picking up. No debt and have $4 a share in cash. | 2004-09-10 | ||
| BUY | Home Depot | HD-N | 37.540 | Has been a juggernaut. Continue to roll out their platform all over the place. | 2004-09-10 | ||
| TOP PICK | Motorola | MSI-N | 16.690 | Make a lot of their money from the infrastructure that makes hand sets work. Growth rate looks like it's 15%. | 2004-09-10 | ||
| BUY | Newmont Mining (US) | NEM-N | 43.300 | Likes the mining stocks in general. Outlook is positive. China is continuing its strong growth. | 2004-09-10 | ||
| BUY | Nortel | NT-T (Dead) | 5.110 | Feels the expectation for good results in the accounting disclosures are not optomistic, so a lot of investors are waiting for the news and then will jump in. Best to buy before, rather than after. Speculative. | 2004-09-10 | ||
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| BUY | Pfizer Inc | PFE-N | 31.860 | A lot of drug stocks have been under pressure. All of the US drug companies are in a favorable position of having reasonable growth prospects. | 2004-09-10 | ||
| WEAK BUY | Sierra Wireless | SW-T | 23.810 | Has suffered along with the technology sector. Likes wireless in general and it should go up with the rest. Insider buying which is a good sign. Market is waiting for some earnings. | 2004-09-10 | ||
| TOP PICK | Helen of Troy Ltd. | HELE-Q | 29.080 | 15% growth year over year in earnings. Adding to their product line. Trading at 11 X cash to earnings, so it's cheap. | 2004-09-10 | ||
| BUY | A Comment -- General Comments From an Expert | A Commentary | 22.000 | A major beneficiary of what is happing in the copper markets. Profits have been improving tremendously. Outlook is very positive. | 2004-09-10 | ||
| HOLD | Bennet Environmental | BEV-T | 15.960 | Continue to hold. Poised to provide solutions to environmental issues. | 2004-07-12 | ||
| WEAK BUY | Brascan Corporation | BAM.LV.A-T | 37.100 | Well diversified. | 2004-07-12 | ||
| HOLD | Bank of Nova Scotia | BNS-T | 35.600 | Improving economy will help. Good one to hold. | 2004-07-12 | ||
| WEAK BUY | CI Financial Corp | CIX-T | 15.760 | Going to do fairly well. | 2004-07-12 | ||
| HOLD | CitiGroup | C-N | 44.950 | Global economy will have an impact on their results. Will preform very well in future. Good company to hold. | 2004-07-12 | ||
| VAGUE | Electonic Data Systems | EDS-N | 18.290 | (Past top pick Feb 6, 2003, up 17.5%) | 2004-07-12 | ||
| BUY | Falconbridge Ltd | FAL-T | 32.450 | Outlook for copper is favourable. Takes years to bring on more production. Should do very well. | 2004-07-12 | ||
| VAGUE | H. J. Heinz Co. | HNZ-N | 38.490 | (Past top pick Feb 6, 2003, up 20%) | 2004-07-12 | ||
| WEAK BUY | Intel | INTC-Q | 25.920 | Intel will meet/exceed earnings expectations. Will be upside/growth in industry. | 2004-07-12 | ||
| TOP PICK | Motorola | MSI-N | 17.090 | Make wireless networks work. | 2004-07-12 | ||
| TOP PICK | Merck & Company | MRK-N | 45.410 | Dividend yield is very attractive. You pay very little for the upside. | 2004-07-12 | ||
| WEAK BUY | Inco | N-T | 45.600 | Takes many years to bring on production of nickel. Strong outlook | 2004-07-12 | ||
| VAGUE | Nortel | NT-T (Dead) | 5.670 | Will have a relief rally. Could see some upside in short/medium term. | 2004-07-12 | ||
| WEAK BUY | Pfizer Inc | PFE-N | 33.630 | Like this sector. Good name. Growth potential is good. | 2004-07-12 | ||
| WAIT | Research In Motion | RIM-T | 85.550 | Speculative. Good product. Could see great results. Could find better entry point. | 2004-07-12 | ||
| DON'T BUY | Sierra Wireless | SW-T | 43.750 | Drifting back. Earning arn't following through. Havent liked for a while. Wouldn't buy. | 2004-07-12 | ||
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| DON'T BUY | Sierra Wireless | SW-T | 43.750 | Drifting back. Earning arn't following through. Havent liked for a while. Wouldn't buy. | 2004-07-12 | ||
| HOLD | Canadian Pacific Ships | TEU-T | 22.650 | Preform well. Under pressure because of high gas prices. Shipping volumes are up. Hold | 2004-07-12 | ||
| WEAK BUY | TSX Group | X-T | 49.000 | Wish he owned. Operate very well. Steady slow upside. | 2004-07-12 | ||
| TOP PICK | Marvel Enterprises Inc | MVL-N | 16.860 | Will do well, because of new movie release, Spiderman 2. Going to initiate a stock buy back later in the year, or increase dividend. | 2004-07-12 | ||
| BUY | Barrick Gold | ABX-T | 29.490 | Institutional investors will be looking at large cap golds first. Expects gold will rise in 2004. | 2003-12-31 | ||
| BUY | Agnico-Eagle Mines | AEM-T | 15.630 | Located in a great geographical area and feels there is potential. Probably a good entry point level. | 2003-12-31 | ||
| BUY | AbitibiBowater Inc. | ABH-T (Dead) | 10.370 | Still a lot of issues, but stock is really cheap. This one will be one of the first that large institutional investors will move into once the lumber dispute is settled. | 2003-12-31 | ||
| BUY | ATI Technologies | ATY-T (Dead) | 19.490 | Should trade higher over a year's time. | 2003-12-31 | ||
| DON'T BUY | Canadian Natural Rsrcs | CNQ-T | 65.370 | Should have a good year in 2004, but that is probably built into the stock already. Not very bullish on oil stocks. | 2003-12-31 | ||
| DON'T BUY | Encana Corp | ECA-T | 51.000 | Not bullish on oil and natural gas. | 2003-12-31 | ||
| WAIT | Goldcorp Inc | G-T | 20.620 | Expects gold will trade quite a bit higher over the next year. Expects institutional buyers will be looking at Barrick first. | 2003-12-31 | ||
| TOP PICK | Hewlett-Packard Co | HPQ-N | 41.200 | Seem to be focusing more on the server market. Have been taking a lot of costs other system after their Compaq merger. | 2003-12-31 | ||
| DON'T BUY | JDS Uniphase | JDU-T | 4.770 | Prefers others, such as Nortel or Lucent. Can't remember them ever making money. | 2003-12-31 | ||
| WEAK BUY | Nordion Inc | NDN-T | 19.980 | Relatively solid company. Good cash flow from parts of their business. | 2003-12-31 | ||
| PAST TOP PICK | Motorola | MSI-N | 14.000 | (A past top pick Oct 3/03. Up 13%.) Hand set sales are picking up. New videophones seem to be popular. | 2003-12-31 | ||
| BUY | Methanex Corp | MX-T | 14.530 | Should benefit as the economy picks up. | 2003-12-31 | ||
| PAST TOP PICK | Nextel Partners Inc | NXTP-Q | 28.060 | (A past top pick Oct 3/03. Up 35%.) Feels the whole wireless space is an attractive area to be in. | 2003-12-31 | ||
| TOP PICK | North American Palladium | PDL-T | 10.250 | Palladium should perform well as gold improves. | 2003-12-31 | ||
| BUY | Research In Motion | RIM-T | 86.720 | Future is tremendous. Continues to ramp up sales. | 2003-12-31 | ||
| BUY | Royal Bank | RY-T | 61.800 | Lagging the other banks. They have a significant part of their operations exposed to capital markets which should be a source of growth for them. | 2003-12-31 | ||
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| DON'T BUY | Sobeys | SBY-T | 33.300 | Has had to struggle. Loblaws is a very strong competitor. A solid company, but there are more exciting places to invest. | 2003-12-31 |
