| BUY | | Niko Resources | NKO-T | 60.500 | Has some fabulous resource plays. LNG is not a big issue as they can supply directly to the local markets of India and Bangladesh. Expect it will get taken out at some point. | 2006-03-28 | |
| HOLD | | Royal Bank | RY-T | 50.110 | Had an excellent quarter. Has phenomenal ROE. The operations in Canada, particularly the retail banking, wealth management, capital markets business are all performing extremely well. Not crazy about banks at this time but a good holding. | 2006-03-28 | |
| TOP PICK | | Finning Int | FTT-T | 38.190 | One of the largest dealers of Caterpillar equipment. One of the ways to take advantage of the resource boom without having the volatility. Over the next 8 years, they are going to see an extra $3 billion plus in revenues just as a result of parts and equipment business in the oil sands. | 2006-03-28 | |
| BUY | | Talisman Energy | TLM-T | 62.670 | Has lagged the group for the last little while. Production is not in places where people are excited about it. A global company and they do what they do very well. Extremely attractive from a valuation point of view. | 2006-03-28 | |
| BUY | | Suncor Energy Inc | SU-T | 88.240 | Production growth is definitely going to look better than it did last year. Most of their expansion plans are underway. Pure oil sands play. Well-managed. This is a stock you can put in your portfolio and forget about it. | 2006-03-28 | |
| BUY | | Canadian Natural Rsrcs | CNQ-T | 66.680 | On the verge of becoming an oil sands producer. Launching its $9.9 billion Horizon project. Development and construction plans are all on track. Well-managed. | 2006-03-28 | |
| TOP PICK | | Teck Cominco Ltd. (B) | TCK.B-T | 74.400 | Likes it for both the oil sands play and its array of metals. All 3 of its basic commodities are running. Copper, coal and zinc are very strong. Generating $500 million every quarter. Has over $4 billion on the balance sheet. | 2006-03-28 | |
| BUY | | Encana Corp | ECA-T | 54.970 | Trading at a low P/E because it's basically a natural gas producer. Fairly attractive for the long-term but in the near term will be volatile. Expects to see higher gas prices by the end of the year. | 2006-03-28 | |
| BUY | | UTS Energy | UTS-T | 6.670 | Its fortunes lie with two major entities, Teck Cominco (TEK.SV.B-T) and Petro Canada (PCA-T). Longer term, it will be taken out by one or both of these players. Has no earnings or cash flow and is a straight development play. Speculative. | 2006-03-28 | |
| HOLD | | BCE Inc. | BCE-T | 28.150 | Fairly valued. It's trading of the fact that it faces competition from all sorts of angles. Hasn't executed quite as well on the wireless side as its main competitors. Prefers Telus (T-T). | 2006-03-28 | |
| TOP PICK | | Research In Motion | RIM-T | 96.250 | (A Past Top Pick Nov 16/05. Up 24%.) Now that the lawsuit is settled, all the backlog of orders can now be filled. Next quarter should see a sizeable pickup in earnings. This market is still young and still growing. | 2006-03-28 | |
| DON'T BUY | | AbitibiBowater Inc. | ABH-T | 4.610 | This company has been in such a negative spiral for many years. The news print producers have been shutting down capacity so they are starting to see a recovery in some margins. Not an exciting growth story. | 2006-03-28 | |
| BUY | | Opti Canada Inc. | OPC-T | 34.550 | They use a gasification process by creating gases out of the bituman, and uses this gas to create steam to get SAG (steam assisted gravity) which takes the costs down substantially. Very unique in the oil patch. | 2005-11-16 | |
| TOP PICK | | Encana Corp | ECA-T | 53.850 | 80% of the production is gas. Have a lot of upside with the oil sands. Trading below net asset value. | 2005-11-16 | |
| BUY | | UTS Energy | UTS-T | 4.420 | A pure play in the oil sands business. Has 2 partners, Petrocan (PCA-T) and Teck Cominco (TEK.SV.B-T). It will continue to increase its asset value and the stock price will continue to appreciate. This is a longer term project.There will not be any cash flow or earnings for at least 5 years. Could be a take out candidate. | 2005-11-16 | |
| HOLD | | Manitoba Telecom Services | MBT-T | 41.000 | This is not a growth stock. Doesn't have a wireless position. It's landlocked. Has fallen off because of all the hullabaloo about income trust conversion. Dividend is probably safe. If you need income, it's a fine holding. | 2005-11-16 | |
| BUY | | Power Financial Corp | PWF-T | 32.300 | Has generated a compound return to shareholders of 20% for the last 15 years. They are doing a lot of things really well. A buy and hold stock. | 2005-11-16 | |
| TOP PICK | | Falconbridge Ltd | FAL-T | 34.920 | Stock is trading pretty close to the value of the bid from Inco (N-T). The merger creates the world's largest nickel producer, a very good copper producer and there is great growth in these assets. Will get good synergies out of this. | 2005-11-16 | |
| DON'T BUY | | BCE Inc. | BCE-T | 26.950 | Not a growth story. Facing a lot of pressure on its land line business. It has a corporate structure with some non-core assets that should be disposed of. Dividend is probably safe. | 2005-11-16 | |
| TOP PICK | | Research In Motion | RIM-T | 77.030 | Thinks we are finally coming to the end of the saga on the battle with NTP over patents. The potential reward outweighs the potential risk. They have $1.8 billion on the balance sheet and $600 million in cash flow, so they can handle a large judgement. | 2005-11-16 | |
| SELL | | Jean Coutu Group (PJC) (A) | PJC.A-T | 12.600 | Prefers Shoppers Drugs (SC-T) and would sell this one and move it in to Shoppers. Shoppers has a much better business model. Better management also. | 2005-11-16 | |
| BUY | | TSX Group | X-T | 36.750 | They've changed their accounting policy to basically smooth the income stream from new listings by amortizing them over a 10 year period. Finds this questionable but all the publicly traded stock exchanges in the world do it. Good quality longer term. Will be volatile for a while. | 2005-11-16 | |
| BUY | | Bank of Montreal | BMO-T | 71.900 | Likes banks. Expects new government will allow mergers | 2000-11-30 | |
| BUY | | Bank of Nova Scotia | BNS-T | 38.500 | Likes banks. Expects new government will allow mergers | 2000-11-30 | |
| BUY | | Canadian Imperial Bank of Commerce | CM-T | 44.900 | Likes banks. Expects new government will allow mergers | 2000-11-30 | |
| BUY | | Royal Bank | RY-T | 45.650 | Likes banks. Expects new government will allow mergers | 2000-11-30 | |
| BUY | | Great West Lifeco | GWO-T | 32.650 | Likes Ins. Companies Expects new government will OK mergers | 2000-11-30 | |
| BUY | | Manulife Financial | MFC-T | 39.850 | Likes Ins. Companies Expects new government will OK mergers | 2000-11-30 | |
| BUY | | Sunlife Financial | SLF-T | 32.750 | Likes Ins. Companies Expects new government will OK mergers | 2000-11-30 | |
| BUY | | Bombardier Inc (B) | BBD.B-T | 22.300 | Long term view is excellent. Has always delivered A lot of orders Would buy at this price | 2000-11-30 | |
| BUY | | Biovail Corp. | BVF-T | 51.000 | 30% earnings growth make this reasonably priced | 2000-11-30 | |
| BUY | | Canadian Natural Rsrcs | CNQ-T | 42.500 | An excellent company but prefers Cdn Hunter | 2000-11-30 | |
| BUY | | Sears Canada | SCC-T | 23.050 | Eaton's opening was well received Management is excellent and stock is cheap | 2000-11-30 | |
| BUY | | Loblaws | L-T | 54.000 | At a 52 week high A good stock in a recession | 2000-11-30 | |
| BUY | | Cogeco Cable | CCA-T | 28.950 | Expects a takeover by Rogers or Videotron. Owns as a consolidation candidate | 2000-11-30 | |
| BUY on WEAKNESS | | Thomson Reuters Corp | TRI-T | 56.500 | A strong consolidator of online financials A little expensive Good long term | 2000-11-30 | |
| BUY on WEAKNESS | | Ballard Power Systems | BLD-T | 105.000 | Great company & likes alternative fuel concept. Wait for it to get beat up. Will take a long time to have a product | 2000-11-30 | |
| DON'T BUY | | A Comment -- General Comments From an Expert | A Commentary | 14.800 | Was a great story earlier but fuel costs and unions created problems | 2000-11-30 | |
| DON'T BUY | | Royal Group Tech. | RYG-T | 19.250 | Has problems on cost & demand See slower revenue growth | 2000-11-30 | |
| DON'T BUY | | Canadian Tire Corporation Ltd | CTC-T | 17.200 | Has never liked because of management problems | 2000-11-30 | |
| DON'T BUY | | Alcan Aluminum | AL-T | 46.750 | Excellent company. Good price but base metals should only be used in a recession | 2000-11-30 | |
| DON'T BUY | | QLT Inc | QLT-T | 67.850 | Excellent product, but will they have good sales and whats next in the product line? | 2000-11-30 | |
| DON'T BUY | | ATI Technologies | ATY-T | 12.100 | Doesn't like their business model Too much competition & PC sales are slowing | 2000-11-30 | |
| STRONG BUY | | BCE Inc. | BCE-T | 42.250 | A good quality core holding. Likes their high speed internet connectionAlso other positive assets | 2000-11-30 | |
| TOP PICK | | Toronto Dominion | TD-T | 39.650 | Likes banks. Expects new government will allow mergers | 2000-11-30 | |
| TOP PICK | | Nortel | NT-T | 57.600 | Tremendous growth Quality management Excellent buying opportunity now | 2000-11-30 | |
| TOP PICK | | Suncor Energy Inc | SU-T | 34.400 | Should double their production between 1999 & 2001 | 2000-11-30 | |
| WAIT | | Certicom | CIC-T | 25.750 | Won't produce profits for some time Some excellent technology but volatile. Will be whipped in this market | 2000-11-30 | |
| WAIT | | CAE Inc | CAE-T | 21.450 | Has had a good restructuring and getting back to their core (pilot training) Could do well if they expand | 2000-11-30 | |
| WAIT | | Rogers Communcations (B) | RCI.B-T | 24.950 | Seeing some stronger competition from Bell & wireless | 2000-11-30 | |
| WAIT | | JDS Uniphase | JDU-T | 81.500 | Loves the company. Good management. A long term stock | 2000-11-30 | |
| WAIT | | Celestica Inc | CLS-T | 80.800 | An excellent outlook for growth but hold off short term | 2000-11-30 | |
| WATCH | | Fairfax Financial | FFH-T | 183.900 | Never benefited from run up in market. CFO was a problem but things have improved. OK in 2/3 years | 2000-11-30 | |
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