stockchase picture

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

Recent Top Picks

Date Signal Company Expert Opinion Price
2014-12-17 TOP PICK Boeing
BA-N
Gordon Reid

Traded down a little on the oil story. This is kind of illogical. The thesis is that with lower oil prices, the drive for new fuel efficient airplanes will be lessened, which doesn’t make a lot of sense to him. It is the competitive landscape that matters. One airline against another as beneficial margins and competitive margins lead to pricing decisions. They have a $375 billion backlog, which is pretty much clear sailing through the end of the decade in terms of their delivery schedule. Thinks you could probably see a mid-teens type long-term growth. Dividend yield of 2.95%.

Price:
$125.060
Subject:
US EQUITIES
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-17 TOP PICK Google
GOOGL-Q
David Baskin

A very impressive company. Preeminent in search and preeminent software for mobile devices with their android software. They are the “go to” for advertisers who want to get their message out on any kind of computing device, including mobile devices. You also get what he calls lottery tickets, with the driverless car or whatever they might be developing. This company has almost $100 per share in cash and trading at probably 19X or so 2015 earnings. If you take away the cash, it is trading more like 15X or 16X. Doesn’t pay a dividend but are sitting on $62 billion, which will be burning a hole in their pocket. Feels they are either going to start to pay a dividend or are going to start to buy back shares.

Price:
$506.450
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-17 TOP PICK Hexcel-Corp
HXL-N
Gordon Reid

A derivative play and they are in the structural materials business. They do the carbon fibre material, and two thirds of their business is with Boeing and Airbus. Between the 2 they have over $1 trillion of airplanes that have been ordered and on the block to be assembled. This company makes about $5 million an airplane, and there are thousands and thousands of them that will be produced over the next decade. Trading at a very reasonable multiple and has a good growth rate of around 15% per year. A fine cash flow company with a cash flow of about 7.5% yield.

Price:
$39.910
Subject:
US EQUITIES
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-17 TOP PICK Lear-Corp.
LEA-N
Gordon Reid

Primarily automotive seating or interior work. Basically provides to all the major producers around the world. The run rate in North America is around 17 million units. Over 20 million units in Europe and over 21 million in Asia. Trading at a very modest multiple of around 10X earnings and has good growth ahead of it. Dividend yield of 0.87%.

Price:
$0.480
Subject:
US EQUITIES
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-17 TOP PICK National-Bank-of-Canada
NA-T
David Baskin

Tremendously oversold, along with all the other Canadian banks. At today’s closing price, it is paying about a 4.2% yield and trading at around 9.5X of what he expects they will earn in 2015. Sold off because it has been computed that it has the largest exposure to the Canadian oil industry in its wholesale banking of any of the Canadian banks. He doesn’t see many Canadian oil companies going bankrupt in the next little while. Oil companies are cutting their dividends and cutting their CapX, but that doesn’t mean they are not paying their bank loans. This bank probably has less exposure on loans to oilfield workers and mortgages in Alberta, then the other Canadian banks.

Price:
$47.210
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-17 TOP PICK Suncor-Energy-Inc
SU-T
David Baskin

(A Top Pick Jan 9/14. Down 1.74%.) Had looked pretty good in the summer, but not so good now. When you play with commodities, this is what you have to live with. He likes this over all the other oil companies in Canada because it is vertically integrated. It not only has production, but also has refining and retailing. There are no exploration risks. Yield of 3.14%, which is not only sustainable, but might have room to go up.

Price:
$35.710
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-16 TOP PICK Canadian-National-R.R.
CNR-T
Mike S. Newton, CIM FCSI

This is trading off in sympathy with what is happening in oil. This is a great derivative play. What he finds interesting is that crude by rail and fracing sand shipments are about 9% of their business. They do a lot of merchandise, a lot of international intermodal with the best operating margins at about 37%. Yield of 1.31%.

Price:
$76.590
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2014-12-16 TOP PICK Newalta-Corp
NAL-T
Stephen Takacsy, B. Eng, MBA

Oil and Gas.  One of the biggest recyclers of waste in the business.  They clean up tailing ponds.  Very little business is tied to the price of oil.  Stock is really beaten up.  Good short term upside. To the $19s.

Price:
$15.480
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-16 TOP PICK Park-Lawn-Income-Trust
PLC-X
Stephen Takacsy, B. Eng, MBA

Only publicly traded company in this industry.  40 years capacity in cemeteries.  Great dividend yield.  Great way to play demographics.

Price:
$12.300
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-16 TOP PICK Starbucks
SBUX-Q
Mike S. Newton, CIM FCSI

Hasn’t been a spectacular performer this year, but is moving into food and wine with a big movement into China and eventually into India. Have great metrics and great earnings. Yield of 1.62%.

Price:
$79.130
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2014-12-16 TOP PICK Tesla-Motors-Inc
TSLA-Q
Mike S. Newton, CIM FCSI

A name that most serious investors don’t take seriously. Thinks we will look back at this and wonder why we haven’t been accumulating for the future. Extremely innovative. Thinks this is going to be like the iPod was 6-7 years ago. He is accumulating this on the margin. There is no perfect time to be buying this. Take very small baby steps with a maximum weighting of about 2.5%, (maybe 1%, 1% followed by 0.5%) and see how it goes over the next couple of months.

Price:
$197.810
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2014-12-16 TOP PICK Canadian-Satellite-Radio
XSR-T
Stephen Takacsy, B. Eng, MBA

Held since the merger.  Losers merged to make a massive money maker.  Stock came down when they paid a special dividend.  2.6 Million subscribers, recurring revenue, hardly any cap x.  Cash flow multiples are 50-70% more than it is trading at.  Number of cars equipped to receive the signal is growing dramatically.  Very cheap right now.

Price:
$5.890
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-15 TOP PICK Altagas-Ltd
ALA-T
Gajan Kulasingam

It is a diversified business model of power, gas and regulated utilities.  This will be one of the highest dividend growers (10% over next 3 years).  Projects they commissioned will be coming on line.  Have one of the lowest payout ratios amongst their peers.  You will see a bump up in cash flows and payout ratio.  They have the quickest chance to get a LNG projects up and running. 

Price:
$36.960
Subject:
INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-15 TOP PICK American-Tower
AMT-N
Michael Bowman

Is actually a REIT.  65,000 towers around the world.  Great balance sheet and great management.  They are always profitable. 

Price:
$97.450
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
DEFENSIVE
Owned:
Yes
2014-12-15 TOP PICK Aecon-Group-Inc
ARE-T
Michael Bowman

Convertible debentures from Aecon.  He is looking for a more conservative way to play an equity.  5.6% yield.  You get back 100% in three years.  Not a lot of downside.  It has been hurt along with the oil situation.

Price:
$9.770
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
DEFENSIVE
Owned:
Yes
2014-12-15 TOP PICK Gibson-Energy
GEI-T
Michael Bowman

They came out in the last few days and announced increased capital expenditures.  Payout ratio of 60% and relatively modest exposure to oil.  A great company.  They are not cutting the dividend.

Price:
$23.840
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
DEFENSIVE
Owned:
Yes
2014-12-15 TOP PICK MacQuarie-Infrastructure-LLC
MIC-N
Gajan Kulasingam

A favourite name.  There is significant value here.  They bought out their bulk liquids business from a partner.  6% dividend yield that will grow.

Price:
$63.780
Subject:
INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-15 TOP PICK Pattern-Energy-Group-Inc
PEGI-Q
Gajan Kulasingam

One of the more resilient business models.  Thinks the dividend can grow at 12% for the next 2 to 3 years.  Share price is volatile because of hedge fund ownership.  Thinks the stock market will eventually get the right investor base for the right valuation.

Price:
$23.470
Subject:
INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-12 TOP PICK Apple
AAPL-Q
Bruce Tatters

(A Top Pick Oct 14/14. Up 12.49%.) He is looking for about 20%-25% earnings growth for 2015. For 2015, we are probably going to see 20%-25% earnings growth year-over-year. The following year, it will probably be 10%-15%. A wildcard is how well the wearable category is going to do for them. Thinks there are some new categories coming. Yield of 1.7%.

Price:
$109.730
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-12 TOP PICK Agnico-Eagle-Mines
AEM-T
Jaime Carrasco

(A Top Pick Dec 20/13. Up 5.29%.) A low cost gold producer. What he likes is that they are acquiring a lot of the competition. Well positioned to going forward. Cost of production is below $800, so they are actually making a lot of money in this environment. He has faith that the monetary madness we are going through will have its consequences. Gold is the ultimate money, not as a fiat currency.

Price:
$28.050
Subject:
RESOURCE, UTILITY & REITs
Bias:
OPTIMISTIC
Owned:
Unknown
2014-12-12 TOP PICK Bank-of-America
BAC-N
Bruce Tatters

One of the banks that came out with that very large deal with the US government, paying off a bunch of the charges against it. Sees any of the banks that cleaned out their lawsuits with the US government as generating capital, getting back to more normalized dividend levels with an opportunity to buy back their shares. If housing really starts to recover in the US and the mortgage market starts to recover, they might actually start to do some lending. Dividend yield of 1.16%.

Price:
$17.130
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-12 TOP PICK CASH
CASH
Jaime Carrasco

He is setting this aside for new IPO (HHL.UN-T) on an ETF on healthcare. This will contain global companies with about a 7% dividend.

Price:
$0.010
Subject:
RESOURCE, UTILITY & REITs
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-12 TOP PICK Home-Depot
HD-N
Bruce Tatters

There is beginning to be a real estate recovery in the US. Over the next 3-4 years, there is going to continue to be a recovery in US real estate. In early 2008, many people’s houses went underwater versus their mortgage. One of the 1st things you stop doing when that happens, is renovating your home. When home prices recover and you start getting equity value back into your home, you start renovating again. Free cash flow is about 20%-25% higher than its actual earnings because they are not opening a lot of new stores. Dividend yield of 1.88%.

Price:
$99.780
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-12 TOP PICK Pembina-Pipeline-Corp
PPL-T
Jaime Carrasco

This is a sector that he has never sold in this decline. It will be a good entry point come January.

Price:
$37.140
Subject:
RESOURCE, UTILITY & REITs
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-11 TOP PICK Air-Lease
AL-N
Teal Linde

All the planes before 9/11 were built on $30 oil.  They buy planes and lease them around the world.

Price:
$34.700
Subject:
NORTH AMERICAN
Bias:
BULLISH
Owned:
Yes
2014-12-11 TOP PICK Arht-Media
ART-X
Michael Smedley

(Formerly Vast Exploration.) ARHT means Augmented Reality Holographic Technology platform. The chairman is Paul Anka. This is going to be three-dimensional things.

Price:
$0.450
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2014-12-11 TOP PICK Google
GOOGL-Q
Teal Linde

17-18 percent earnings growth.  Android is finally cashing in.  Google play will allow them to take part in online gaming.  They are at a 52 week baseline.

Price:
$532.110
Subject:
NORTH AMERICAN
Bias:
BULLISH
Owned:
Yes
2014-12-11 TOP PICK Painted-Pony-Petroleum
PPY-T
Teal Linde

Fastest growing rate of growth in the sector.  They are 90% natural gas.  Zero debt.  There is a bit of a takeover premium because of the selloff. 

Price:
$9.550
Subject:
NORTH AMERICAN
Bias:
BULLISH
Owned:
Yes
2014-12-11 TOP PICK Domtar-Corp.
UFS-T
Michael Smedley

This intrigues him. The stock has been pretty steady. It is in US dollars. It has a nice switch going on, gently into consumer product materials, away from trees. Nice dividend of 3.72%. There is some serious talk about turning part of it into an MLP in the US. Thinks this one is reasonably safe here.

Price:
$46.520
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2014-12-11 TOP PICK Seven-Generations-Energy-Ltd
VII-T
Michael Smedley

Has an absolutely fabulous track record of accumulation of a massive amount of land in the southern Montney of about 350,000 acres, with what appears to be an extremely sharp management. Their target is 100,000 barrels a day in 2 years.

Price:
$15.910
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2014-12-10 TOP PICK CGI-Group--A-
GIB.A-T
Bruce Campbell (2)

One of the largest technology companies in Canada. Have done a phenomenal job of growing earnings at about 20% per year over the last 5 years. Stock is trading at only 13X earnings. Company is really focused and disciplined on that earnings growth, so much so that they are not even going to get bonuses this year, because they haven’t met their targets. The Logica acquisition is going really well and there could be more synergies there. There also could be more acquisitions going forward, which will drive the share price and the growth.

Price:
$40.910
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-10 TOP PICK Gilead-Sciences-Inc.
GILD-Q
Alex Ruus

Loves this company and thinks it is going a lot higher. A fantastic story in so many ways. A great stock and is generating a ton of shareholder wealth for owners. It is solving a lot of big health problems in the world. This has been the HIV drug leader globally for many years. Continues to produce better medicine in the HIV category. Launched a new revolutionary hepatitis drug called Solvaldi in January, and it looks like it is going to be the most successful 1st year launch of a drug in history. Over $10 billion in sales over 1 drug is pretty rare. They have followed that up by a 2nd hepatitis drug in October, and between the 2, the company is growing like a weed. While the stock has done well, it has not caught up with the fundamentals. Stock is trading at 10X next year’s earnings and generates a ton of free cash flow. They are buying back stock.

Price:
$104.840
Subject:
NORTH AMERICAN
Bias:
UNKNOWN
Owned:
Yes
2014-12-10 TOP PICK Magna-Int-l.--A-
MG-T
Alex Ruus

(A Top Pick Dec 6/13. Up 44.45%.) Has a couple of more years to run. Really well positioned strategically internationally and benefiting from a growing auto business world worldwide. In baseball terminology, this would be in the 4th-5th inning for the auto cycle. Europe is still bottoming. They are gaining share globally because they are great manufacturers at low cost and they manage their balance sheet really well.

Price:
$122.160
Subject:
NORTH AMERICAN
Bias:
UNKNOWN
Owned:
Yes
2014-12-10 TOP PICK Nobilis-Health-Corp
NHC-T
Bruce Campbell (2)

(Formerly Northstar Healthcare) Just changed their name today, because they are doing a NYSE listing, which has a number of other Northstar Healthcares. A growth by acquisition story. They are partnering with physicians to buy surgical centres in the US. Also, have great organic growth. Over the last 4 years they have grown their revenue at about 100%. From an earnings standpoint, based on the latest acquisition they did, they could earn somewhere between $0.35 and $0.40 next year. If you put a conservative 10X multiple on that stock, this is a $4 stock. Thinks there is more acquisition and organic growth to come.

Price:
$2.970
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-10 TOP PICK Neptune-Tech--and--Bioresource
NTB-T
Alex Ruus

Krill oil. They own half of Acasti Pharmaceutical (APO-X), so you have the upside from Acasti through Capri going into phase 3 trials this year. This company has great resources with the plant producing Neptune Krill oil, being sold through Natural stores, which has a beneficial health effect. 2 years ago their plant blew up in Sherbrooke Quebec. The plant just came on stream this year and will be profitable this month or next. If that starts generating cash flow, investors will start to recognize this. A new CEO will be able to start talking to investors and will be getting a bunch of new institutions involved. $150 million market, which he views as worth over $1 billion.

Price:
$2.070
Subject:
NORTH AMERICAN
Bias:
UNKNOWN
Owned:
Yes
2014-12-10 TOP PICK Patient-Home-Monitoring
PHM-X
Bruce Campbell (2)

Regarding the stock price actions, they had accelerated some warrants they had, which expire at the end of this month, and thinks a lot of people were selling the stock to exercise the warrants. That is probably all done now and has lifted the supply off of the stock allowing it to move up. A “growth by acquisition” story, but we are now seeing some fantastic organic growth. They have been buying all these little monitoring businesses, and have been able to cross sell. Numbers will be coming out mid to late January. This will be their 1st quarter where they didn’t actually do a transaction, so he will be able to compare last quarter to the current quarter in order to see where their growth is. Thinks their phenomenal 20% organic growth could actually double. Because of this he expects that quarter over quarter they will probably see 10%-11% growth, which works on a run rate of about 40%-50% organic growth. They have a ton of deals they are still working on. Believes they have signed over 100 nondisclosure agreements, and understands they have several letters of intent they are working on. At any point in time, he expects we could see the stock halted and an announcement of another transaction. Looking into 2015 and given the transactions they have done and the cash flow they are generating, they could have free cash somewhere in the $800,000 to the $1 million range per month, which would allow them to pay a dividend.

Price:
$0.640
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-09 TOP PICK Chartwell-Seniors-Housing
CSH.UN-T
Christine Poole

A seniors’ home operator, and she likes that space because of aging demographics. The seniors population in Canada is going to be growing at a faster rate than the general population over the next 10 years. Also, seniors are living longer and need more care. Before the 2008 recession, occupancy was in the 94%-95% range, and currently is at around 90%. So there is no reason why occupancy can’t improve. A nice place to hide to get the dividend yield of 4.6%.

Price:
$11.730
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-12-09 TOP PICK Google
GOOGL-Q
Christine Poole

The leading search engine provider with about an 89% global share. Online advertising is primarily how they generate revenues. Stock has done nothing this year, and is actually down. Part of the problem she thinks is that when you are the big gorilla and you have such a huge share, your share is only going to start to decline over time as more competition comes in, but they haven’t really seen huge competition. Feels there is very strong secular growth in digital advertising and only accounts for 20% of total media spend, and this will increase over time. Google has about 70% share of global internet ad spending. As the whole space grows, they are going to benefit as the overall growth continues.

Price:
$536.110
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-12-09 TOP PICK JP-Morgan-Chase--and--Co
JPM-N
Patrick Horan

This gives you the double edge of a super regional bank exposed to the average person and a pretty good investment bank. Thinks the investment banking cycle is about to start, which involves M&A, new issues and an IPO market as the US market continues to take leadership and the bull market is extended out. When that happens, brokers make a lot of money. Yield of 2.57%.

Price:
$62.450
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-09 TOP PICK Mondelez-International
MDLZ-Q
Christine Poole

A global snacking company. The #1 share in biscuits, chocolate and candy. #2 in chewing gum. 44% of their earnings are from emerging markets where there is the expanding middle-class. Consumption per capita in that category is very low, so she sees a lot of growth as the middle-class expands. The company is improving their margins. Yield of 1.56%.

Price:
$38.560
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-12-09 TOP PICK Sandvine-Corp.
SVC-T
Patrick Horan

From a macro standpoint, we are approaching full employment. When that happens, companies have a decision to make. They can either bid up for new labour, (basically stealing it away from another company), or they can figure out ways to improve productivity, which means CapX. Feels that the CapX cycle, which has been very muted for this cycle, is going to increase and re-correct on the upside. This company is a leader in its industry, and benefiting from a weak Cdn$ and trading at 5.5X EBITDA. Their industry is growing at 15%-20% on a revenue basis.

Price:
$3.070
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-09 TOP PICK Toromont-Industries
TIH-T
Patrick Horan

*Short.* The only Caterpillar dealer in Ontario as well as having a small business in arenas. Have benefited for years from an increasing mining sector, and in Ontario it is primarily gold related, and gold miners are not doing that well. Also trading at a pretty hefty premium to the competition. A strengthening US$ means that new equipment coming into the market is going to get re-priced at an expensive US$, and then a lot of used equipment will start competing. Yield of 2.17%.

Price:
$27.850
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-08 TOP PICK Cognizant-Technology-Solutions-Corp.
CTSH-Q
Jennifer Radman

They do consulting in IT sort of business process outsourcing. Big in financial services but recently made an acquisition on the healthcare side. Had bought into this on an “earnings warn”, which was followed by a big pop in the stock when they did better than what they had warned. Have the ability to make companies more efficient. Historically it has been all about cost-cutting, efficiency, etc. but now it is about how to use technology to differentiate and grow your business and generate revenue. Technology has a lot of room to grow and this company is at the heart of it.

Price:
$52.550
Subject:
US LARGE
Bias:
BULL on US EQUITIES
Owned:
Yes
2014-12-08 TOP PICK Gildan-Activewear-Inc.
GIL-T
Jeff Young

35% annualized dividend increases.  They had a messy quarter so are weak right now.  They are a low cost producer.  They are set up for outsized growth later on.

Price:
$61.570
Subject:
CANADIAN DIVIDEND
Bias:
BEAR on ENERGY
Owned:
Yes
2014-12-08 TOP PICK Keyera-Corp
KEY-T
Jeff Young

Does not have a lot of direct commodity exposure.  Over time they will benefit from the selling off of some oil company infrastructure.  3.4% yield.

Price:
$75.610
Subject:
CANADIAN DIVIDEND
Bias:
BEAR on ENERGY
Owned:
Yes
2014-12-08 TOP PICK Onex-Corp
OCX-T
Jennifer Radman

Although a Canadian company, they have most of their investments outside of Canada. Have done so well that they’ve sold a lot of investments and now have a lot of cash on their balance sheet. Just announced an acquisition and she thinks there are more to come. Yield of 0.31%.

Price:
$63.530
Subject:
US LARGE
Bias:
BULL on US EQUITIES
Owned:
Yes
2014-12-08 TOP PICK Whirlpool-Corp
WHR-N
Jennifer Radman

This company benefits tremendously from scale. Recently announced 2 joint ventures, one in Europe and one in China. If you look at what they did in 2006 when they acquired Maytag. That was sort of the peak in spending in consumer appliances, so there really hasn’t been any top line growth. What has grown is their bottom line, which is about 90% in a “no growth” environment. Have a tremendous amount of run room for many years. 1.6% dividend yield.

Price:
$186.590
Subject:
US LARGE
Bias:
BULL on US EQUITIES
Owned:
Yes
2014-12-08 TOP PICK WPT-Industrial-REIT
WIR.U-T
Jeff Young

Warehouses and distribution centers in the US.  Benefiting from the theme of e-commerce.  6.6% yield, almost 100% occupancy.  Will be able to bring in new properties and grow.

Price:
$10.790
Subject:
CANADIAN DIVIDEND
Bias:
BEAR on ENERGY
Owned:
Yes
2014-12-05 TOP PICK Analog-Devices
ADI-Q
Rick Stuchberry

This is right in the middle of the technology space, and he thinks there is money flowing into technology. Feels there is pretty reasonable growth here. Very good balance sheet with minimal debt. Growing cash flow. Dividend yield of 2.57%.

Price:
$57.340
Subject:
CANADIAN LARGE & ADRs
Bias:
BULLISH on INDIA
Owned:
Yes
2014-12-05 TOP PICK Brookfield-Property-Partners
BPY.UN-T
David Cockfield

This is all over the world. You are really not buying a Canadian stock. You may be buying real estate in Brazil, Europe, a lot of it in the US. They are in casino businesses and hotels. Also have residential. Making a bid for part of the Canary Wharf with Qatar. These are real pros and international operators. Yield of 4.27%.

Price:
$26.330
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-05 TOP PICK Crescent-Point-Energy-Corp
CPG-T
David Cockfield

Thinks this has gotten beaten up too much. They operate in Saskatchewan and in North Dakota. Super operators. Have been very adamant in the past about protecting their dividend when prices went down. He is betting that you will see the price of oil back into the $75-$80 range within 6 months. Yield of 10.34%.

Price:
$26.690
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-05 TOP PICK Las-Vegas-Sands-Corp.
LVS-N
Rick Stuchberry

Another sort of back door play into Asia. About 80% of their revenue comes out of Singapore and Macau. They don’t have a monopoly, but have a very strategic position, where people can’t get into the market against them for at least a few years. Likes Asia because that is where the growth is. Yield of 3.38%.

Price:
$59.220
Subject:
CANADIAN LARGE & ADRs
Bias:
BULLISH on INDIA
Owned:
Yes
2014-12-05 TOP PICK Pembina-Pipeline-Corp
PPL-T
David Cockfield

Some of the servicing agencies have taken quite a beating. He can see people hitting the fracers and the drillers, etc., but the pipelines are gatherers, and transport both oil and gas liquids. They have an essential part in that whole transportation system, mainly in Alberta and Saskatchewan. This company has long-term contracts with big names. They have built up a backlog of projects that are coming on stream. Forecasts for EBITDA next year is up 19%. Dividend yield of 4.35%.

Price:
$39.990
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-05 TOP PICK WSP-Global-Inc.
WSP-T
Rick Stuchberry

A Canadian company, but in the last couple of years they bought a UK engineering firm and one from the US. Will have the big bulk of its earnings coming internationally. Decent yield of 4.29%.

Price:
$35.000
Subject:
CANADIAN LARGE & ADRs
Bias:
BULLISH on INDIA
Owned:
Yes
2014-12-04 TOP PICK BB-and-T-Corp.
BBT-N
Norman Levine

Likes the geography they are in.  Likes the quality of the management and of the balance sheet.  2.54% dividend.

Price:
$37.920
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on FINANCIALS
Owned:
Yes
2014-12-04 TOP PICK General-Electric
GE-N
Norman Levine

Is in transition.  It was a much more of a financial stock and is not in the throes of being more of an industrial and less of a financial, but trades more like a financial still.  Cheaper than Honeywell or 3M or UTX-N. 

Price:
$26.090
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on FINANCIALS
Owned:
Yes
2014-12-04 TOP PICK Google
GOOGL-Q
Stan Wong

Has really underperformed this year relative to the sector and relative to the broader market, which really presents a good buying opportunity given that we are still looking at 18%-20% long-term growth. Trading at a fairly decent valuation of 19X forward PE. This gives you a 1.1-1.0 PEG ratio, which is cheaper than 85% of the S&P 500. As the US, and hopefully the global, economies rebound, this should benefit from greater demand for Internet search engine and advertising which is its bread-and-butter.

Price:
$542.580
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-04 TOP PICK Metlife
MET-N
Stan Wong

This appears to be a bit undervalued to other insurers. The largest life insurer and one of the largest insurance and financial services companies in the US. As the recovery in the US economy continues and the labour market gets better, that will provide a catalyst to share price given the greater demand for insurance and investment products. If interest rates move up, that is also good for life insurers. Stock is trading at 9.5X PE forward with 10%-12% long-term growth. Pretty decent valuation. Yield of 2.55%.

Price:
$55.180
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-04 TOP PICK Starbucks
SBUX-Q
Stan Wong

20,000 stores in 60 countries globally. This is a stock that has taken a bit of time off and hasn’t done a heck of a lot, although it hit a new high today, which technically could be a pretty interesting formation. A premier large cap growth name. Doesn’t think you can find a name in the space that is similar to this. Expanding into tea, juices as well as fresh food offerings and alcohol in the US. Yield of 1.57%.

Price:
$81.310
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-04 TOP PICK Suncor-Energy-Inc
SU-T
Norman Levine

Make sure you own energy stocks with rock solid balance sheets and low costs of production.  They are a huge cash generating machine.  They could even raise their dividend here and payout would be very, very low.  They are not hurt much by oil pricing coming down and refining margins have been coming down to offset the price of oil  When oil goes up, prices at the pump reflect immediately, but when it comes down, the pumps are slow to come down.

Price:
$35.890
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on FINANCIALS
Owned:
Yes
2014-12-03 TOP PICK CitiGroup
C-N
Brian Acker, CA

(A Top Pick Jan 14/14. Up 1.26%.) Coming out of his EBV -3 line in his strategy of “coming out of the blue”. Has $1.9 trillion of assets while Bank of America (BAC-N) has $2 trillion of assets. For the banks that were the most hit in the 2008 crisis, their balance sheets are starting to get to be okay. When they start to perform and use that capital, that tells you that the US is really coming along and getting out of the financial crisis. Yield of 0.07%.

Price:
$55.210
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US$
Owned:
Yes
2014-12-03 TOP PICK CGI-Group--A-
GIB.A-T
Jon Vialoux

Technology sector tends to do well from October all the way through to January, at the time of the Consumer Electronic Show. We are already within the period of seasonal strength for this company. Seasonal stats from the start of December all the way through to about February 8, just before it reports earnings, and it tends to do quite well. 76% of the time it has been positive with an average return of about 14.4%. The trend is certainly positive on this.

Price:
$41.910
Subject:
TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias:
BULLISH
Owned:
No
2014-12-03 TOP PICK iShares-DJ-Home-Construction-ETF
ITB-N
Jon Vialoux

This is a pure home construction play, the actual people that build the homes, rather than the retail. We are already in the period of seasonal strength, which runs from October all the way through to the beginning of February. From the beginning of December all the way through to February 3 has produced an average return of about 11.5%, outperforming the market by about 9%. The improving labour market and the low mortgage rates will tend to benefit this through to the end of the year.

Price:
$25.700
Subject:
TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias:
BULLISH
Owned:
No
2014-12-03 TOP PICK iShares-Russell-2000-ETF
IWM-N
Jon Vialoux

Investors tend to take on more risks at the end of the year and at the start of the new year. From December 15, all the way through to March 7, the Russell 2000 tends to gain about 5.65% on average. That outpaces the S&P 500 return by about 3%. December is particularly strong. About 88% of the time it is positive in the month of December, so you definitely want to have your exposure to the small-cap stocks. The largest holding in the small-cap is financials, which runs about 25%. Tax loss selling could be a bit heavier on something like the Russell 2000. It has been hovering around the flat line for most of the year. If you can buy this on weakness over the next few weeks, that would be ideal. He is guessing there will be a breakout on the strength of the market behind it and the positive seasonal tendencies.

Price:
$117.370
Subject:
TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias:
BULLISH
Owned:
No
2014-12-03 TOP PICK Oracle
ORCL-N
Brian Acker, CA

This is old tech. His model price is $58.52, a 38%-39% upside. CEO just retired. They have huge amounts of cash. The train is heading north on all these large cap values, and all you have to do is just be there. Dividend yield of 1.14%.

Price:
$42.060
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US$
Owned:
Yes
2014-12-03 TOP PICK Exxon-Mobil
XOM-N
Brian Acker, CA

This gives you a great opportunity to buy one of the best run companies in the world, and at a really good valuation. His model price is $110-$111, an 18% upside. He wants large caps, certainly in the top 100 of the S&P 500. Yield of 2.92%.

Price:
$94.950
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US$
Owned:
Yes
2014-12-02 TOP PICK Altagas-Ltd
ALA-T
Lyle Stein

Although this is in the energy sector, he looks at it as more of a utility company. They have a couple of Hydro projects in BC. This has allowed them to raise their dividend and he sees this going up quite substantially now that the power plants are up and going. At some point, they could move this out of the energy sector and into the utility sector, and it would be one of the top growing utility companies. Dividend yield of 4.27%.

Price:
$41.220
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2014-12-02 TOP PICK Walt-Disney
DIS-N
Bruce Campbell (1)

They have the TV side (ESPN and ABC), the theme parks with China opening, along with the movie side having a great line up of blockbusters. It is up, pushing 20X now, but in the US environment that is not expensive. 1-year target of about $105. Yield of 0.92%.

Price:
$93.470
Subject:
CANADIAN LARGE
Bias:
BULLISH on NORTH AMERICAN ECONOMY
Owned:
Yes
2014-12-02 TOP PICK Empire-Company--A-
EMP.A-T
Bruce Campbell (1)

If you take the money that you don’t spend on gas, you go right to a grocery store. This also has a lot of real estate underneath it, including Crombie (CRR.UN-T) and a bunch of direct real estate. If you take out the real estate, you get only 5.5X price to EBITDA. He bought it at just under $78 and it has moved nicely so far. He thinks it can move again and come to the high $80’s to $90’s. Try to get it on a $2 dip. Nice and safe. Extra growth comes from the Canada Safeway, which they acquired. A lot of the stores need fixing up, and the ones they have started on are seeing really nice bumps. Dividend yield of 1.28%.

Price:
$84.370
Subject:
CANADIAN LARGE
Bias:
BULLISH on NORTH AMERICAN ECONOMY
Owned:
Yes
2014-12-02 TOP PICK Goldcorp-Inc
G-T
Lyle Stein

One of the biggest gold producers globally. Well capitalized. Just completed a major mine expansion program. Production is ramping up quite nicely and the capital spending is now behind them. At $1200, most gold companies cannot make money today. This is a low cost producer with growth from the mines that are now coming on. Generating free cash flow. Dividend yield of 2.86%.

Price:
$23.250
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2014-12-02 TOP PICK Shawcor-Ltd.--A-
SCL-T
Lyle Stein

Have been trading at the $60 level, and is now on sale at $41. Very good growth. They got whacked on the news that Mr. Putin is not going to build a pipeline from Asia into Europe. That is $150 million worth of this company’s backlog. You want to buy when there is blood on the streets. This has good exposure to the sector and is not necessarily directly related. Pipelines will go in whether oil is $50 or $100. Dividend yield of 1.42%.

Price:
$42.000
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2014-12-02 TOP PICK SNC-Lavalin-Group-Inc.
SNC-T
Bruce Campbell (1)

Doesn’t want to go to energy right now because he is still a little uncertain about price.  Acquired an E&C energy related company this summer, so they are now about 15%-20% energy related, but it is infrastructure. These are big long construction projects to be built out as new development in energy. He thinks you can make the argument that asset value is still in the $60’s and probably in the spring they announce the sale of the #407 for something like $3.2 billion, which is $20 a share in cash. Yield of 2.34%.

Price:
$41.090
Subject:
CANADIAN LARGE
Bias:
BULLISH on NORTH AMERICAN ECONOMY
Owned:
Yes
2014-12-01 TOP PICK Algoma-Central-Corp.
ALC-T
Barry Schwartz

They will have spent $500 million by 2016 replacing their ship vessels and are going to have one of the youngest fleets in the world. This company is going to have better ships, more fuel efficient and will be able to load faster. He sees earnings, probably by the end of next year, getting up to a normalized $1.50 a share. You are only paying 10-11 times earnings. Also, have other assets that they can unlock, including about $100 million of real estate. Yield of 1.74%.

Price:
$16.100
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-01 TOP PICK Baytex-Energy-Corp
BTE-T
Eric Nuttall

Higher risk name because of higher leverage.  Their total debt to cash flow is 3 times, but half is long term debt and we could get an oil price recovery in 9 months.  It used to trade at a premium to CPG-T, but no longer.  In the short term he does not see the dividend being cut.

Price:
$22.770
Subject:
OIL & GAS
Bias:
CAUTIOUS on OIL
Owned:
Yes
2014-12-01 TOP PICK CASH
CASH
Eric Nuttall

He is at 39% cash in his fund.  He has little confidence in the overall trend of the market.  We are into tax loss selling so there could be volatility and he wants some dry powder.

Price:
$0.010
Subject:
OIL & GAS
Bias:
CAUTIOUS on OIL
Owned:
Yes
2014-12-01 TOP PICK Keyera-Corp
KEY-T
Barry Schwartz

You can buy an energy stock or you can buy the nuts and bolts. The nuts and bolts are infrastructure names such as companies like this. This is a toll road business and the company gets 70% of its business from a fee to service type operation, gathering and processing natural gas. Only about 5% of its cash flow is dependent on commodity prices. Doesn’t know why it is down so much, so he has been adding it to his portfolios. Yield of 3.3%.

Price:
$78.250
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-01 TOP PICK Teva-Pharmaceutical
TEVA-N
Barry Schwartz

Have a branded drug for MS, and people were worried it was going off the patent cliff and get absolutely demolished. They have been able to turn it around and reformulate it, and move people to another formulation with a longer patent. The earnings, that people thought were going to go to 0, are actually going higher. Meanwhile it is the largest generic drug manufacturer globally, with a pittance valuation. Much more upside in the name. Yield of 2.24%.

Price:
$56.710
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-12-01 TOP PICK Whitecap-Resources
WCP-T
Eric Nuttall

Added this stock this morning.  If you want oil exposure and a dividend there is not a better name to own.  There is total indiscriminant selling.  You have an opportunity to high grade in your portfolio.  They already announced a dividend increase in January.  The best most sustainable yield and they are still growing.  Management owns a ton of stock.  They fell as much as crummier stocks.

Price:
$11.380
Subject:
OIL & GAS
Bias:
CAUTIOUS on OIL
Owned:
Yes
2014-11-28 TOP PICK DirectCash-Payments-Inc
DCI-T
Jason Donville

Got beat up by Veritas last year because of a lack of disclosure, so they started disclosing more, and now the stock is starting to re-rate. Besides the 8.5% dividend yield, there is good capital appreciation ahead and he thinks the stock goes back to $20 fairly quickly, and you will still have a great yield.

Price:
$16.440
Subject:
GROWTH & FINANCIALS
Bias:
UNKNOWN
Owned:
Yes
2014-11-28 TOP PICK Exelon-Corp
EXC-N
Hap (Robert) Sneddon FCSI

This company has lagged a little, but thinks there is going to be a breakout happening pretty soon. If it breaks out, he expects it is pretty good until about $48. Looking for earnings to improve over the next few years.

Price:
$36.170
Subject:
TECHNICAL ANALYSIS
Bias:
UNKNOWN
Owned:
Yes
2014-11-28 TOP PICK iShares-Xinhua-China-25-ETF
FXI-N
Hap (Robert) Sneddon FCSI

The 25 largest Cap stocks in China. China is down 60% from 2007. Pretty volatile. From a fundamental and risk perspective, things have been lining up. There has been a lot of bad news come in. This is more for a long-term Buy and Hold investor.

Price:
$40.600
Subject:
TECHNICAL ANALYSIS
Bias:
UNKNOWN
Owned:
Yes
2014-11-28 TOP PICK CGI-Group--A-
GIB.A-T
Jason Donville

If looking for inexpensive growth, this company has grown at a 20% per annum level for the last 5 years. The reason you want to own this for next year is, when you look at the large cap growth companies in Canada, this is the only one that is trading at 10X earnings, a really, really low multiple. Secondly, it is highly likely they will do a big acquisition which will be accretive, and the stock would likely pop after that. Thinks 2015 is going to be a good year for this company.

Price:
$41.680
Subject:
GROWTH & FINANCIALS
Bias:
UNKNOWN
Owned:
Yes
2014-11-28 TOP PICK Valeant-Pharmaceuticals
VRX-T
Jason Donville

ROE is great at over 30%. A lot of the businesses they acquired are actually doing better than people thought. Sold his holdings because the inversion thing was making him nervous, but that is starting to settle down. He thinks this is going to be less oriented towards inversions going forward, and just acquiring good accretive businesses.

Price:
$166.400
Subject:
GROWTH & FINANCIALS
Bias:
UNKNOWN
Owned:
Yes
2014-11-28 TOP PICK SPDR-Consumer-Staples-ETF
XLP-N
Hap (Robert) Sneddon FCSI

Thinks consumers will be opening their wallets a little bit wider for staples, but feels discretionary (Consumer Discretionary (XLY-N)) is a little bit tired. Had a little bit of headwind from the US$, but thinks that story is not going to push exceptionally higher, and if anything come back a little bit.

Price:
$49.300
Subject:
TECHNICAL ANALYSIS
Bias:
UNKNOWN
Owned:
Yes
2014-11-27 TOP PICK Bank-of-America
BAC-N
Paul Harris, CFA

10% of all deposits in the US are with them.  Stock has not done much at all this year, but you should see improvements in the company next year.  They have a great retail and commercial franchise, great investment banking business and a great wealth management business.  They will continue to generate lots of capital and then buy back shares and increase the dividend with it.

Price:
$17.110
Subject:
NORTH AMERICAN - LARGE & GLOBAL EQUITIES
Bias:
CAUTIOUS on OIL
Owned:
Yes
2014-11-27 TOP PICK Canadian-Natural-Rsrcs
CNQ-T
Martin Davies

Excellent at how the management has consistently delivered on what they are trying to do.  They brought an oil sands mine on stream on time and on budget.  Very few can do this.  Still produce a tremendous amount of free cash flow.  Amazingly diverse group of assets. It is compelling. Over time it should re-rate itself.

Price:
$38.450
Subject:
OIL & GAS
Bias:
BULLISH on OIL & GAS
Owned:
Yes
2014-11-27 TOP PICK Enerflex-Ltd
EFX-T
Martin Davies

Was previously Nat Gas aligned.  Now they went through a bulking up of all types of energy systems.  Acquired AXIP in Latin America, which is a tremendous fit for them.  Back log is going up, distributions have to go up.

Price:
$16.820
Subject:
OIL & GAS
Bias:
BULLISH on OIL & GAS
Owned:
Yes
2014-11-27 TOP PICK Gibson-Energy
GEI-T
Martin Davies

(Top Pick Jan 8/14, Up 13%) Transportation division is producing at great rates and created new transportation hubs.  Great third quarter read.  They get a repeat star.

Price:
$29.760
Subject:
OIL & GAS
Bias:
BULLISH on OIL & GAS
Owned:
Yes
2014-11-27 TOP PICK Microsoft
MSFT-Q
Paul Harris, CFA

(Top Pick Nov 7/13, Up 31.80%) They are not thinking they are competing with AAPL-O anymore.  The Surface has come out and it is an enterprise product.  Xbox is doing better and they have a good phone.  Incredible balance sheet and the change of management has helped them to refocus.  15 times earnings, 3% dividend, $27 billion in free cash flow, gross margins of 68%.  That’s what Microsoft is.  A great company from a balance sheet perspective.

Price:
$47.750
Subject:
NORTH AMERICAN - LARGE & GLOBAL EQUITIES
Bias:
CAUTIOUS on OIL
Owned:
Yes
2014-11-27 TOP PICK Qualcomm
QCOM-Q
Paul Harris, CFA

13 times earnings.  They are facing some issues in China with royalties and they are in with an antitrust case and hopefully this will work out.  They are in the high growth area of the tech business.  Great roadmap for down the road.  8-10% revenue and earnings growth.  They are buying back shares and increasing their dividend soon.  They were hurt in the short term, but will benefit from it being solved further out.

Price:
$72.260
Subject:
NORTH AMERICAN - LARGE & GLOBAL EQUITIES
Bias:
CAUTIOUS on OIL
Owned:
Yes
2014-11-26 TOP PICK Brookfield-Asset-Management--A-
BAM.A-T
Greg Newman

Likes this one 1 year out and for the next 5 years. Sees about 21% rising AFFO growth over the next couple of years from rising institution allocations to real assets, US economic momentum where they have 62% of their business and its robust asset management business with significant fundraising momentum. This is a bit of a call on rates staying low for longer. Yield of 1.28%.

Price:
$56.220
Subject:
CANADIAN LARGE & HEDGING
Bias:
CAUTIOUS
Owned:
Yes
2014-11-26 TOP PICK Diversified-Royalty-Corp.
DIV-T
Peter Imhof

A new type of royalty company. They are buying top line revenue from companies that have steady businesses. Management own a lot of stock themselves. The 1st deal they signed was with Franwork, the owners of Original Joe’s and Elephant and Castle restaurants. Trading at a fairly low multiple, and has a 7% yield. They are just starting getting coverage. Expects they will sign another deal in the next couple of months or so. Street is starting to get behind this story. Fairly cheap. Considers this a long-term hold that he can own for the next few years and let it play out.

Price:
$2.470
Subject:
NORTH AMERICAN - SMALL
Bias:
CAUTIOUS
Owned:
Yes
2014-11-26 TOP PICK Power-Financial-Corp
PWF-T
Greg Newman

The Q3 was a strong beat. Underlying businesses of wealth management and life insurance are very attractive. Has a 4% conservative dividend with a 42% payout ratio. Believes we are going to finally see dividend growth, and models it at 8%-10% for 2015. However, it is trading below its 5 year average at 11.6X versus its 5 year average of around 13. In an environment in the TSX where he expects to see an energy vacuum and a continued mining vacuum, and maybe even a telecom vacuum to come, he thinks money is going to look for other places.

Price:
$35.180
Subject:
CANADIAN LARGE & HEDGING
Bias:
CAUTIOUS
Owned:
Yes
2014-11-26 TOP PICK Ridley-Inc
RCL-T
Peter Imhof

Animal nutrition. Very tightly held. Just came out with a quarter where their earnings were up over 50%. In the last 3 years, their compound annual growth rate in earnings was up about 45%. In 2014 they paid a $2 special dividend and in 2013 they paid a $1.50 special dividend and a $2 special dividend in 2012. Trading at a very low multiple. At some point in time, they are either going to make an accretive acquisition or will pay another special dividend.

Price:
$28.100
Subject:
NORTH AMERICAN - SMALL
Bias:
CAUTIOUS
Owned:
Yes
2014-11-26 TOP PICK Rock-Energy-Inc.
RE-T
Peter Imhof

The whole sector has been creamed, but this is one of the cheapest. Did about 3500 BOE’s in 2013 and this year they are going to do about 4900 and expects them to do about 5500 next year. Even at today’s prices of around $80, their netbacks are around $40. Very high netbacks, so they can withstand the downturn here. They still have the growth in production and higher netbacks compared to most other companies. Very cheap.

Price:
$4.010
Subject:
NORTH AMERICAN - SMALL
Bias:
CAUTIOUS
Owned:
Yes
2014-11-26 TOP PICK WSP-Global-Inc.
WSP-T
Greg Newman

Their global operations are showing solid organic growth and very healthy margins. Canadian operations showed signs of safe stabilizing last quarter. Backlog is up nicely. Just made a recent acquisition of Parsons Brinkerhoff, which adds to their US exposure and gives them more of a global footprint. Feels this will be highly accretive and will generate cost savings. He models a 72% payout ratio. Have done a very good job in the past of integrating operations.

Price:
$35.900
Subject:
CANADIAN LARGE & HEDGING
Bias:
CAUTIOUS
Owned:
Yes
2014-11-25 TOP PICK Apple
AAPL-Q
John Stephenson

Looking at technology, it has become a bifurcated market. Some of them are just getting smoked and some are struggling, and yet you see this one trading at a relatively low multiple. It really has the best ecosystem in technology. There are well over 50% margins on the iPhone. Don’t know what their sales are yet officially, but there are rumours they are in the 60 million+ already. He thinks it is certainly worth north of $150 a share. Yield of 1.58%.

Price:
$117.600
Subject:
NORTH AMERICAN - LARGE & RESOURCE
Bias:
BULL on US EQUITIES
Owned:
Yes
2014-11-25 TOP PICK Element-Financial
EFN-T
John Stephenson

Equipment leasing. In a growing and underserved area of the market. He expects to see growth in this market. You can see earnings per share growing at roughly 80% per annum for the next year or so. This will benefit from an eventual recovery in spending on machinery and equipment. A “screaming buy” right now.

Price:
$14.760
Subject:
NORTH AMERICAN - LARGE & RESOURCE
Bias:
BULL on US EQUITIES
Owned:
Yes
2014-11-25 TOP PICK Intel
INTC-Q
David Burrows

The undisputed leader in semiconductors. Many would say they are 3 years ahead of their competition when it comes to manufacturing technology, and they are accelerating their pace of innovation. Somewhat economically sensitive. Dominant in data centres, which has rapidly growing revenues. PC market seems to be stabilizing. Will probably grow 10%-12% a year going forward. They’re returning cash to shareholders by buying back shares and raising their dividend. It will grow its dividend at 15% per year. Yield of 2.64%.

Price:
$36.320
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2014-11-25 TOP PICK Lockheed-Martin
LMT-N
David Burrows

His premise is that sectors go into and go out of favour over periods of time as things shift. We have just gone through a 10-12 year period where defence spending has been curtailed. When that takes place, at some point they spend too little and you start to see politics go the other way. This company has the F 35 fighter jet. It’s early days in that program and is probably a 20 year project selling them globally. There is good visibility once they start building an order book. This company has been successful through the downturn and have grown their dividend 19% a year, over the last 5 years. That is likely to accelerate. Expect to see defence spending pick up over the next 18 months. Yield of 3.18%.

Price:
$188.670
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2014-11-25 TOP PICK Newmont-Mining--US-
NEM-N
John Stephenson

*Short* Hates gold companies and gold prices. We are in for another decade or more of disappointment. This is one of the few material names in the US, so it is widely held by generalists, but what it doesn’t have going for it is growth. Has had no growth for years. Huge issues with debt at $6.8 billion. It needs to spend roughly $2.6 billion over the next year or so, just to maintain production. If the Swiss don’t vote for gold to be backed by the central bank reserve, then gold will be under pressure and gold stocks will be very, very weak. Yield of 0.51%.

Price:
$19.710
Subject:
NORTH AMERICAN - LARGE & RESOURCE
Bias:
BULL on US EQUITIES
Owned:
Yes
2014-11-25 TOP PICK Wal-Mart-Stores-Inc.
WMT-N
David Burrows

Historically this has really grown in line with the US GDP. They’ve most recently had their 1st positive same-store sales in a few quarters. He thinks we are going to see a significant pick up from a little more money being in consumers’ pockets because of low oil prices. Stock has just broken out from a very long consolidation between $65 and $80. Expects there will be good dividend growth and better revenue comps. Relatively low risk. Yield of 2.26%.

Price:
$84.950
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2014-11-24 TOP PICK American-International-Group
AIG-N
Gordon Reid

A pretty simple property and casualty business with some wealth management on the side. Trading at a discount to Book Value at about 70% of Book and about 10X earnings. It is trading down here because its ROE is not as high as some of its competitors, but it is getting there. They are doing a lot of the right things. Earnings are being funnelled back to the shareholders. Making money on its underwriting in addition to its investment portfolio. Yield of 0.91%.

Price:
$55.100
Subject:
US EQUITIES
Bias:
OPTIMISTIC
Owned:
Yes
2014-11-24 TOP PICK Beacon-Roofing-Supply
BECN-Q
Gordon Reid

2nd largest roofing company in North America. Analysis shows that roofing growth is going to be about 6% per year, over the next number of years. 60% of US homes were built prior to 1980, and if your roof needs replacing, you can only put it off for so long. Trading at a reasonable multiple.

Price:
$29.100
Subject:
US EQUITIES
Bias:
OPTIMISTIC
Owned:
Yes
2014-11-24 TOP PICK Bank-of-Montreal
BMO-T
Peter Brieger

He has been buying it for years.  Likes their presence in Chicago with Harris bank.  As the US does better, so should this bank.

Price:
$83.200
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-24 TOP PICK Ensco-PLC
ESV-N
Gordon Reid

(A Top Pick Dec 3/13. Down 28.70%.) There has to be stabilization of oil prices. If that happens, money will start to flow back into the sector. They have very strong fundamentals. Their backlog is growing with over 2 years of revenue in backlog. Grew their backlog last quarter by 10%. In the deepwater area, virtually all of their fleet is contracted out a couple of years. When oil stabilizes, you will start to see companies like this return to normalized multiples. Right now they are trading at about 4X EBITDA which is 30%-40% discount to where it should be trading at.

Price:
$39.900
Subject:
US EQUITIES
Bias:
OPTIMISTIC
Owned:
Yes
2014-11-24 TOP PICK Inter-Pipeline
IPL-T
Peter Brieger

(Top Pick Nov 25/13, Up 40.53%)  As you see the increase in utilization of existing pipelines you will see further dividend growth.  14-15% return is pretty good.  Keystone could provide even more potential for dividend growth.

Price:
$34.570
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-24 TOP PICK Precision-Drilling
PD-T
Peter Brieger

He doubled down at $9.22.  He is predicting increasing profit in the next two years.  It is very cheap.  Don’t do anything before the OPEC meeting.  PD-T has priced in $65-$70 oil so he is not too worried.  66% of all drilling is just to maintain current production and this should shelter drillers.  This is one of the premier drillers. 

Price:
$8.980
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-21 TOP PICK Bank-of-Nova-Scotia
BNS-T
Michael Sprung

Relative valuation has taken a bit of a hit lately, because in their recent quarter they reported a bit of a hiccup in their international operations. It is fairly rare that you are able to buy this bank for a lower Price to Book valuation than its competitors. At current levels, it’s a pretty good place to be. In the meantime, you are being paid 3.8% dividend yield and that dividend is likely to go up in the coming years. Tier 1 capital of about 10.9%.

Price:
$70.000
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-21 TOP PICK Martinrea
MRE-T
John Zechner

Some downside protection and earnings growth is at a very low valuation. Stock was off recently in the last quarter, when they met the earnings, but projections going forward were probably below what the street wanted. Spending a lot of money on programs going forward. As these programs come in, it is going to generate new earnings growth for the next couple of years. Sees them generating better than 10% earnings growth going forward for the next 3 years. Trading at under a 10X forward multiple. Also, they have a great positioning in aluminum parts. Yield of 1.18%.

Price:
$10.380
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-21 TOP PICK New-Flyer-Industries-Inc.
NFI-T
Michael Sprung

Well-positioned, and the management over the last few years has put much more of a focus on manufacturing and efficiencies, and over the coming years they will be beneficiaries as fleets are renewed in cities throughout North America. They participate in electric, hybrid and traditional bus lines. Not only are they one of the few North American manufacturers left, but also have a good parts aftermarket business that has been growing significantly. Yield of 4.49% which he feels is safe.

Price:
$13.040
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-21 TOP PICK Precision-Drilling
PD-T
Michael Sprung

Stock has pulled back significantly with the problems in the oil sector. This is now at a level where he thinks it is very attractive. This is Canada's largest drilling company. Have significant operations in the US. If you have faith in the oil/gas industry, this is a very good entry point. Yield of 3.06%.

Price:
$9.150
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-21 TOP PICK Qualcomm
QCOM-Q
John Zechner

They sell communication chips across the industry. Almost any smart phone built globally has a Qualcomm chip in it. Also, have a lot of products going into areas such as wearables and the higher growth areas. The biggest problem recently has been with what they sell in China and getting their royalties. Stock continues to have a decent growth rate. Yield of 2.37%.

Price:
$71.470
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-21 TOP PICK TorstarCorp--B-
TS.B-T
John Zechner

When they sold Harlequin, they did much better than anyone expected with $450 million. Has a market cap of $500 million right now with about $200 million in cash. Newspaper business is not growing, but they are cutting costs. Their digital division is growing. 8.16% dividend yield with lots of cash to pay it.

Price:
$6.570
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-20 TOP PICK Tsingtao-Brewery-Co.
0168-HK
Darren Sissons

Has been growing at double digit rates.  Brewing companies use a ton of energy.  So lower energy costs are helpful for this story.  It is relatively cheap.  Owned since the low $30s. 

Price:
$0.000
Subject:
GLOBAL LARGE
Bias:
BULLISH on RESOURCES
Owned:
Yes
2014-11-20 TOP PICK Arc-Resources-Ltd
ARX-T
Darren Sissons

There has been a big decline in energy prices. This is a very good management team.  The dividend is sustainable at current levels.  They have exposure to all the right markets.  A balanced portfolio.  Longer term this will make some money.

Price:
$29.250
Subject:
GLOBAL LARGE
Bias:
BULLISH on RESOURCES
Owned:
Yes
2014-11-20 TOP PICK Brookfield-Asset-Management--A-
BAM.A-T
Hank Cunningham

3.95% bonds maturing Apr 9/19. One of the themes in his 3 picks is quality. He is taking cautionary measures to guard against BBB bonds starting to underperform the market. Also, preservation of capital in these very low rates is #1 in his mind.

Price:
$55.340
Subject:
FIXED INCOME
Bias:
UNKNOWN
Owned:
Yes
2014-11-20 TOP PICK BCE-Inc.
BCE-T
Hank Cunningham

3.25% bonds maturing June 17/20. One of the themes in his 3 picks is quality. He is taking cautionary measures to guard against BBB bonds starting to underperform the market. Also, preservation of capital in these very low rates is #1 in his mind.

Price:
$53.220
Subject:
FIXED INCOME
Bias:
UNKNOWN
Owned:
Yes
2014-11-20 TOP PICK Callaway-Golf
ELY-N
Darren Sissons

(Top Pick Dec 05/13, Down 2.82%) The turnaround is about half way through.  We had a dismal summer last year and then a poor winter.  Longer term restructuring stories are the kind of animal that are lumpy, but when they work they work well so he is happy to hold this.  The US middle class tend to be golfers.  New product introduction benefits them as does the new CEO’s turning the company around.  There should be more upside.  You see a lot of young guys on courses in Florida. 

Price:
$7.570
Subject:
GLOBAL LARGE
Bias:
BULLISH on RESOURCES
Owned:
Yes
2014-11-20 TOP PICK TSX-Group
X-T
Hank Cunningham

3.25% bonds maturing Oct 3/18. One of the themes in his 3 picks is quality. He is taking cautionary measures to guard against BBB bonds starting to underperform the market. Also, preservation of capital in these very low rates is #1 in his mind.

Price:
$52.650
Subject:
FIXED INCOME
Bias:
UNKNOWN
Owned:
Yes
Showing 1 to 120 of 20,346 entries
First Previous 1 2 3 4 5 Next Last