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Compiling comments that experts make about stocks while on public TV.

Recent Opinions

Date Signal Company Expert Opinion Price
2014-10-14 TOP PICK Target Corp
TGT-N
Brian Acker, CA

He wants more consumer discretionary in his portfolios. This is because energy prices have been coming down and the US consumer has been deleveraging and holding back. If the US$ goes up, that means cheap goods. Likes their new CEO. His model price is $64.30, a 6% upside. He would love to see it pull back more, maybe to $55. Yield of 3.4%.


Price: $61.690
Subject: AGRICULTURE, DIVIDEND & FIXED INCOME
Bias: UNKNOWN
Owned: Yes
2014-10-14 DON'T BUY Trans Canada Corp
TRP-T
Brian Acker, CA

Pipelines are massively overvalued and could remain so for quite some time. He has a fundamental value for this one at $38.94, a negative 28%.


Price: $50.530
Subject: AGRICULTURE, DIVIDEND & FIXED INCOME
Bias: UNKNOWN
Owned: Unknown
2014-10-14 COMMENT Wabash National
WNC-N
Brian Acker, CA

He has a model price of $15.52. He kind of likes the small manufacturing companies. He is a Large Cap investor, and feels there is a lot of value in Large Cap so he wouldn’t fool around with these mid tier stocks. There is so much value in the top 100 of the S&P 500.


Price: $11.610
Subject: AGRICULTURE, DIVIDEND & FIXED INCOME
Bias: UNKNOWN
Owned: No
2014-10-14 TOP PICK Exxon Mobil
XOM-N
Brian Acker, CA

The best run company in the US. His model price is $111.55, a 23% upside. People are basically jettisoning these oil names out of their portfolios. As a Value manager, he wants to be there.


Price: $90.550
Subject: AGRICULTURE, DIVIDEND & FIXED INCOME
Bias: UNKNOWN
Owned: Yes
2014-10-10 N/A A Comment -- General Comments From an Expert
A Commentary
David Cockfield

Markets. We are in a typical correction. Investors, in the meantime, should conserve cash and avoid high beta securities. He is surprised that people are so surprised. We are seeing some really good signs of panic in the last couple of days. Big volumes, nice downturns. He had picked $14,300 on the TSX as support and we hit that and went under it today. This is a nice washout. Expects this will be the place that it rests on for a while or bounces off. There is lots of cash out there.


Price: $0.020
Subject: CANADIAN
Bias: BULLISH
Owned: _N/A
2014-10-10 N/A A Comment -- General Comments From an Expert
A Commentary
David Cockfield

Energy. The Western Canadian Select, which is the heavy oil that we are exporting, is actually up a bit in the last 6 months. He has liked the oil stocks since early this year. The biggest plays of earnings growth in the Canadian economy has been the energy sector. The WTI and the Western Canadian Select differential has narrowed because the Cdn$ is down significantly. In the meantime, there have been some real good developments in that we exported 2 million barrels per day, up 35% from the same period last year. This is a record level. He expects that earnings coming through on the 3rd quarter are going to be quite good. Has a feeling that the weakness in some of our energy stocks is because a good deal of the selling is from the US, and that US portfolio managers are not aware of how our market works. Also, Enbridge (ENB-T) is in the process of opening a new pipeline down south, which will be shipping good old Canadian heavy oil down to the Gulf, 600,000 barrels a day.


Price: $0.020
Subject: CANADIAN
Bias: BULLISH
Owned: _N/A
2014-10-10 N/A A Comment -- General Comments From an Expert
A Commentary
David Cockfield

Stop Losses to lock in profits? He has tried using these in the past, but has never been successful with them. For somebody managing their own portfolios, it is very tricky. His experience was that if the market sold off for any reason (sometimes it can be quite irrational) the stock would go down, you would get taken out and the stock would bounce right back up.


Price: $0.020
Subject: CANADIAN
Bias: BULLISH
Owned: _N/A
2014-10-10 PAST TOP PICK Agrium
AGU-T
David Cockfield

(A Top Pick Oct 22/13. Up 9.26%.) Still likes this as a Hold. A little concerned that they have given some profit warnings in the last little while. Very much weather related, but we are still in the retrieval part of the crop year.


Price: $94.420
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2014-10-10 DON'T BUY Athabaska Oil Sands Corp
ATH-T
David Cockfield

Has never been particularly positive on this one. They have a lot of time to put in before the oil starts to come out of the ground. They also seem to be on the edge of the cliff with their financing from China. There are lots of other companies that are in production and showing earnings and giving a yield.


Price: $4.590
Subject: CANADIAN
Bias: BULLISH
Owned: No
2014-10-10 PAST TOP PICK Bell Aliant
BA-T
David Cockfield

(A Top Pick Oct 22/13. Up 19.25%.) Being acquired by Bell Canada (BCE-T). He sold his holdings at $31.20.


Price: $30.540
Subject: CANADIAN
Bias: BULLISH
Owned: No
2014-10-10 DON'T BUY Badger Daylighting
BAD-T
David Cockfield

They use high-pressure water, rather than mechanical means, to tunnel. This means it can be sent into sensitive areas. Have been very good at it. Unfortunately, the technology is not patentable. People can build a big truck with a pressure pump and do the same job, which is exactly what other people are doing. Have lots of competition which is eating into their margins.


Price: $25.790
Subject: CANADIAN
Bias: BULLISH
Owned: No
2014-10-10 TOP PICK Bank of Nova Scotia
BNS-T
David Cockfield

This gotten beaten up a little bit more than the other banks recently. Feels there is too much concern about their earnings in central and south America. He still sees them as economically doing quite well. A conservative bank. Yield of 3.87%.


Price: $67.990
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2014-10-10 TOP PICK Baytex Energy Corp
BTE-T
David Cockfield

A heavy oil producer. They have been leaders in oil by rail. Management has shown themselves to be heads up in terms of marketing in the US and he thinks they will continue to do that. Yield of 7.88%.


Price: $37.100
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2014-10-10 BUY Canadian National R.R.
CNR-T
David Cockfield

Has a Buy on this in the $71 range. If you currently have it, you should certainly hold it. This is one of the big beneficiaries of the increasing oil production. They make big money shipping oil and are getting better at it and costs are down.


Price: $72.250
Subject: CANADIAN
Bias: BULLISH
Owned: Unknown
2014-10-10 DON'T BUY Canadian Oil Sands
COS-T
David Cockfield

Not one of his favourites. The problem is that it seems to have an aging infrastructure. They have fires and explosions. There always seems to be something going wrong. Have lots of capital requirements in the future that concern him. Prefers others.


Price: $18.300
Subject: CANADIAN
Bias: BULLISH
Owned: No
2014-10-10 PAST TOP PICK Crescent Point Energy Corp
CPG-T
David Cockfield

(A Top Pick Oct 22/13. Down 3.82%.) Down, but this is just a measure of the panic in the market. This is one of his favourite stocks. Pays an excellent dividend of well over 7%. Have an excellent production record. $81 US for Bakken oil now. A fantastic operator and they have years of drilling to do.


Price: $36.820
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2014-10-10 BUY Freehold Royalties
FRU-T
David Cockfield

This is in a Buy range here. This company just pays out the royalties that it receives. Have good properties to drill and he thinks they will continue to expand. At these prices, this is a good Buy. 7.6% dividend yield.


Price: $21.660
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2014-10-10 BUY Imperial Oil
IMO-T
David Cockfield

This company got knocked down with the rest. Has good assets, good production and has heavy oil. One of the better quality ones. In the long-term, this is a very safe bet in the oil industry. He prefers higher yields in some of the others. 1% dividend yield.


Price: $49.860
Subject: CANADIAN
Bias: BULLISH
Owned: No
2014-10-10 BUY Inter Pipeline
IPL-T
David Cockfield

Which pipelines should he buy? His favourites have been in the juniors, Pembina (PPL-T) and Inter Pipeline (IPL-T). Likes these because they operate virtually all in Alberta and somewhat in Saskatchewan and BC. They don’t face the kind of political problems that the larger ones do. Will probably show better growth in a reasonable market and he would say either of these 2. They give reasonable dividends and good growth potential.


Price: $33.500
Subject: CANADIAN
Bias: BULLISH
Owned: Unknown
2014-10-10 BUY Keyera Corp
KEY-T
David Cockfield

This has been a great growth stock. It always seems somewhat expensive. Has bounced off the $90 level once and is back down to it again today. Wouldn’t be surprised if it bounces again. This is probably as good a time to step in here as you are going to get.


Price: $89.120
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2014-10-10 DON'T BUY Manulife Financial
MFC-T
David Cockfield

This is an OK situation now. He prefers Sun Life (SLF-T) or Power Financial (PFC-T). A lot of their projections to future growth are built on continuing success in China. He has a bias against that type of situation. He has watched what has happened to other companies that are operating in China. If there is ever a political problem, you get nailed.


Price: $20.570
Subject: CANADIAN
Bias: BULLISH
Owned: No
2014-10-10 BUY Pembina Pipeline Corp
PPL-T
David Cockfield

Which pipelines should he buy? His favourites have been in the juniors, Pembina (PPL-T) and Inter Pipeline (IPL-T). Likes these because they operate virtually all in Alberta and somewhat in Saskatchewan and BC. They don’t face the kind of political problems that the larger ones do. Will probably show better growth in a reasonable market and he would say either of these 2. They give reasonable dividends and good growth potential.


Price: $45.050
Subject: CANADIAN
Bias: BULLISH
Owned: Unknown
2014-10-10 BUY Power Financial Corp
PWF-T
David Cockfield

Not a bad time to buy this one. It has a reasonable yield. A good, safe, long-term investment. Good management.


Price: $31.790
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2014-10-10 COMMENT SNC-Lavalin Group Inc.
SNC-T
David Cockfield

A tremendous company. The real concern here is if criminal charges are brought against the company, which will exclude them from future contracts with various government agencies. They have already, more or less, proved in court that the wrongdoing was not at the high levels of the company, but more of a division situation. In fact they have won a case against one of their employees.


Price: $48.480
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2014-10-10 COMMENT Suncor Energy Inc
SU-T
David Cockfield

Sell some Toronto Dominion (TD-T) and get into this? He likes TD, one of his favourite banks, and he has lots of it. He doesn’t know that he would like to sell his bank and would probably Hold them both.


Price: $36.660
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2014-10-10 BUY Suncor Energy Inc
SU-T
David Cockfield

This has tended to be a favourite in the US which is probably one of the reasons why it has been pounded so badly. It has a lot of heavy oil and that is where price stability is these days. Thinks it is in a Buy range here.


Price: $36.660
Subject: CANADIAN
Bias: BULLISH
Owned: Unknown
2014-10-10 WAIT Trinidad Drilling Ltd
TDG-T
David Cockfield

Drillers have performed quite poorly, and this was even before the major selloff started. This looked really quite expensive in the summer. He is not sure that it has hit bottom yet. The drillers have to stabilize and build a bit of a base here, and he does not see that yet.


Price: $7.280
Subject: CANADIAN
Bias: BULLISH
Owned: No
2014-10-10 HOLD Vermilion Energy Inc
VET-T
David Cockfield

A lot of its assets are in Europe. With the Russian situation, oil being produced in Europe will be more valuable. Excellent company with good long-term prospects.


Price: $60.560
Subject: CANADIAN
Bias: BULLISH
Owned: No
2014-10-10 TOP PICK Vangrd Dividend Appr. E.T.F.
VIG-N
David Cockfield

He sees the US market as offering specific opportunities at specific times. The dividend appreciation is one that he has used extensively with his clients who want exposure. A very high quality company. Well diversified and quite a conservative portfolio. A good place to have a piece of the US market. Yield of 2.45%.


Price: $75.150
Subject: CANADIAN
Bias: BULLISH
Owned: Yes
2014-10-10 DON'T BUY Yamana Gold Inc.
YRI-T
David Cockfield

He had held a little bullion ETF and had become quite discouraged. With the strength in the US$, which seemingly acts directly against gold and with no evidence that the $ is going to get any weaker, he has backed away from the whole area.


Price: $6.350
Subject: CANADIAN
Bias: BULLISH
Owned: No
2014-10-09 PAST TOP PICK MTR Corporation Limited.
0066-HK
Darren Sissons

(A Top Pick Oct 24/13. Up 8.55%.) The biggest subway operator in Hong Kong. They are going to have a 27% track expansion between now and 2017. Also, have operations in China, Sweden, Australia and the UK.


Price: $0.000
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: Yes
2014-10-09 TOP PICK Hengan International (HEGIY.PK)
1044-HK
Darren Sissons

This is the #1 brand for tissues and napkins in China. Sold off recently because Hong Kong is the center of a democracy drive. This is causing a lot of the stocks in the Hong Kong market to be depressed. In actuality, Hong Kong is actually the booking place for these stocks. All the money is made in China. Company has historically grown its revenues by double digits. Yield of 2.37%.


Price: $0.000
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: Yes
2014-10-09 N/A A Comment -- General Comments From an Expert
A Commentary
David Burrows

Markets.  Markets are clearly correcting.  It depends on what market you are looking at as to how serious it is.  Market correlation is changing.  Some sectors are hanging in and others are not.  It is setting up some real possibilities.  He believes in stops.  He is lucky he has chosen groups that have hung in remarkably well.  He has very little exposure to commodities and basic materials as well as to industrials.  He is fairly fully invested (10% cash) so he is not that concerned.  There is a lot of cash on the sidelines.  Nat Gas drilling should continue so he does not see a reducing volume growth.  Over the summer to August he had to reduce his exposure to oil producers.  It is clear that from 2000-2012 we were in a world of growth supported by China.  Now we have falling commodity prices, falling energy prices and falling financing prices.  This means we are in a bull market in the consumer lead developed economies.  The Canadian dollar is strong relative to the rest of the world, except for the US.  Focus on companies that are well exposed to the US economy.  He is quite bullish on US Equities.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: No
2014-10-09 BUY A Comment -- General Comments From an Expert
A Commentary
David Burrows

Pipelines.   Have been the golden goose over the last 3-4 years and have been a large part of his portfolios.  He believes this is the least price sensitive part of the energy complex.  Oil-finding technologies are very price competitive.  He likes KEY-T and PPL-T.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: Unknown
2014-10-09 COMMENT A Comment -- General Comments From an Expert
A Commentary
David Burrows

Gold.  He is short some gold exposure (ETFs).  Some are better than others.  G-T has held in relatively well compared to the group.  He likes FNV-T better because they are a royalty company.  He has covered 2/3rds of his shorts in gold because it looks like it might take a bounce.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: _N/A
2014-10-09 N/A A Comment -- General Comments From an Expert
A Commentary
Darren Sissons

Markets. Feels this is just a garden-variety pullback/correction. Valuations were pretty lofty last year and we had a huge run-up. It is natural for a pause to be taken. As long as you have some cash reserves, you get to take advantage of the bleeding when it stops. You get opportunities to increase the portfolio income, to buy better quality stocks and at cheaper prices. Looking at the US unemployment chart, it effectively came off the cliff and basically ran from 4.5% to the broadest measures of 16%-17%. You’re not going to get a straight line recovery from 16% down to 4%. There are going to be people leaving the workforce and coming back in. It is going to be a lumpy process, but we are seeing consistently positive job aids in the US. That is good for everybody. US was the first into the hole and the first out. As global recovery broadens around the rest of the world, it will be better for everybody. He is going to wait until the bleeding stops. He has about 15% cash for longer-term clients and will be buying for sure.


Price: $0.020
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: _N/A
2014-10-09 HOLD ABB Ltd.
ABB-N
Darren Sissons

This has been a very interesting story in the last couple of years. Went down to around $15 and then back up. Has now fallen back down from the $25 range. A couple of things have caused this. There was a cyclical recovery in Europe and that was a big uptick and it got to a point where expectations were a little overblown. The recent fall has been because of sanctions to Russia and delayed big projects around the world. The major challenge is that they had major project in an offshore wind farm that blew up on them and they have to take some special one-time charges. That will probably all be done by the end of the year. They have more cash than debt. A big cash generator engine. 4.5% dividend.


Price: $20.890
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: Yes
2014-10-09 DON'T BUY Barrick Gold
ABX-T
David Burrows

There are concerns for real economic growth in Europe.  Japan may do some more quantitative easing.  Central banks are giving us a very clear message that QE will have to continue in Europe.  Cost efficiencies with ABX-T will not make a significant difference in this environment.


Price: $15.590
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: Unknown
2014-10-09 PAST TOP PICK Air Canada (B)
AC.B-T
David Burrows

(Top Pick Oct 10/13, Up 54.29%) He has recently rotated to West Jet.  There is better consumer spending and better load factors.  He still has a small weighting.


Price: $7.600
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: Yes
2014-10-09 WATCH Altagas Ltd
ALA-T
David Burrows

It is sitting on support and you need to see it hold at these levels.  Their business has become more regulated in the past few years.  They have a big pipeline of opportunities going forward.  He has no problem buying more in low parts of a trend.


Price: $44.730
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: Unknown
2014-10-09 TOP PICK American Tower
AMT-N
David Burrows

Performed particularly well. They rent out space on towers.  They have great customers and no bad debts.  They keep getting demands for more bandwidth.  Raised dividend every quarter.  Almost no cap-X.  Dividend should increase every quarter. 


Price: $94.750
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: Yes
2014-10-09 PAST TOP PICK BB&T Corp.
BBT-N
Darren Sissons

(A Top Pick Oct 24/13. Up 10.43%.) Thinks this is the best regional bank and he wants to be exposed to it. Has recently traded off a little bit, but a large portion of that has to do with the fact that the interest-rate expectation did not occur. At some point in time, higher interest rates will drive the stock to a high level.


Price: $37.260
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: Yes
2014-10-09 PAST TOP PICK B/E Aerospace
BEAV-Q
David Burrows

(Top Pick Oct 10/13, Up 5.74%) He got stopped out and moved from industrial stocks to consumer.  These guys will benefit from the continuous upgrade cycle that the airlines are going through.  It is very dependent on a stronger global economy.


Price: $77.910
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: No
2014-10-09 TOP PICK BHP Billiton Ltd.
BHP-N
Darren Sissons

Balance sheet is good and it is a dividend growth profile story. They were the 1st to rebalance their portfolio. They are obviously trying to deal with the slow demand of the Chinese. They are going to ramp up iron ore production and use their high balance sheet to drive the high cost producers out of the market and ultimately lead to more consolidation. They will then start to pick up some of the weaker players. There could be some near term downside. Yield of 4.33%.


Price: $57.280
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: Yes
2014-10-09 COMMENT Berkshire Hathaway Inc. (B)
BRK.B-N
Darren Sissons

Has been selling some of his clients’ holdings because of the succession issue. Charlie and Warren are getting to a point where they are cracking on towards 90. If one of them should fall off the perch, will it still be the same company? If that should happen, he feels the stock will take a 15%-18% hit immediately. Also, it doesn’t pay any dividends so you are trusting them to grow the company. Feels you would be better to just pick individual stocks.


Price: $137.090
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: Unknown
2014-10-09 BUY on WEAKNESS Canadian National R.R.
CNR-T
Darren Sissons

The best rail in North America. Has a dividend growth profile. Leveraged to a number of different components to the Canadian economy. Not cheap, so you buy it on a dip.


Price: $74.500
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: Yes
2014-10-09 SELL Crescent Point Energy Corp
CPG-T
David Burrows

(Market Call Minute) Great company, but wrong sector.  He came out of this one some time ago.


Price: $37.040
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: No
2014-10-09 DON'T BUY Paranaense De Energia Copel
ELP-N
Darren Sissons

He has no South American exposure because it tends to be a commodity driven region and commodities are effectively in freefall. He is a little worried about the balance sheet of the region, the energy power and the decline in the consumer. Also, Brazil has major structural challenges.


Price: $15.280
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: No
2014-10-09 COMMENT Enbridge
ENB-T
Darren Sissons

Pipelines. Are these coming down because the whole market is, or is it more specifically because there is less demand for oil? It is just a general drag by the whole market and the whole market is re-pricing to a lower level. Feels there is going to be continued demand for oil. We have a lot of oil and we have great pipelines. If you can get this at a lower level, that would be great. Historically it has been a very, very good performer.


Price: $50.970
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: Unknown
2014-10-09 DON'T BUY Ford Motor
F-N
David Burrows

Anybody who has significant Europe exposure is facing big headwinds.  He is sitting on the 1 yard line.  He prefers parts makers to manufacturers.


Price: $13.840
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: Unknown
2014-10-09 TOP PICK FedEx
FDX-N
David Burrows

The big tailwind is falling energy costs.  They have been taking costs out of the business and he thinks there is another $billion further to take out.  Christmas looks good for them.


Price: $156.510
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: Yes
2014-10-09 PAST TOP PICK Twenty-First Century Fox Inc
FOX-Q
David Burrows

(Top Pick Oct 10/13, Up 4.12%) These companies can return capital.  There are a number of companies that look good in this space.


Price: $32.200
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: No
2014-10-09 DON'T BUY General Electric
GE-N
David Burrows

Industrials have been underperforming and to a large part because they are multinationals.  GE looked more attractive when there was more development around the world.  Prefers something more domestic.  There is no rush to buy machinery and heavy industrials.  Rails benefit from the US economy.  He prefers that, but has steered clear of this one and the whole sector.


Price: $24.780
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: Unknown
2014-10-09 TOP PICK Corning Inc
GLW-N
Darren Sissons

The recession deferred a lot of aging TV replacements, so there is going to start to be a replacement cycle in terms of new TVs. This will probably occurs 1st in the US and then as the global economy broadens out, there will be opportunities in other parts of the globe. Also their main competitor for gorilla glass just declared bankruptcy so there should be higher or more stable prices. Very strong balance sheet. Yield of 2.15%.


Price: $18.580
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: Yes
2014-10-09 DON'T BUY Goldman Sachs
GS-N
Darren Sissons

3% drop in the stock is fine for a company that has a highly levered balance sheet. It is obviously best in breed in terms of the banking space. This is a money centered banks, so it is very firmly focused in terms of regulation, bank changes, etc. which means that every time there is a sneeze in the market, the regulators are going to be dealing a lot with banks like this. He prefers US regional banks, which don’t have the same regulatory glare.


Price: $181.270
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: No
2014-10-09 TOP PICK Home Depot
HD-N
David Burrows

Consumer theme.  Natural tailwind, immune to disruption from e-commence.  They have expanding margins (10-12%)  Friendly to shareholders. Returning capital and buying back stock.  Dividend went way up, but it is costing them less to pay it because they bought back so many shares.  Almost all revenue from Canada and US.


Price: $93.070
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: Yes
2014-10-09 SELL Hornbeck Offshore Services
HOS-N
David Burrows

(Market Call Minute) They are facing a headwind and he would prefer to stay away from the group.


Price: $27.610
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: Unknown
2014-10-09 DON'T BUY Jones Lang Lasalle Inc.
JLL-N
Darren Sissons

This has done very, very well in the context of a low interest-rate environment. Is this a bit too late to the party? There is talk in the US that they are going to start to increase interest rates, which will make it more difficult for the real estate market. He believes there is a lot of inflation in the system in food, energy and housing. Doesn't like this one because it pays a very low dividend and has a relatively short history.


Price: $124.140
Subject: GLOBAL LARGE
Bias: OPTIMISTIC
Owned: No
2014-10-09 BUY Loblaw Companies Ltd
L-T
David Burrows

It is behaving very well in this correction and he would have no problem owning it.


Price: $55.690
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: Unknown
2014-10-09 DON'T BUY Labrador Iron Ore Royalty
LIF-T
David Burrows

A wonderful business model.  It doesn`t matter what the price is.  China iron ore prices are hitting lows.


Price: $19.310
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH on US MARKET
Owned: No
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