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

Recent Top Picks

Date Signal Company Expert Opinion Price
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
2014-11-19 TOP PICK Badger-Daylighting
BAD-T
Bruce Campbell (2)

Had a great run. Have phenomenal margins of over 25%. A very profitable company. They manufacture and operate hydro-vac trucks that are used to excavate, using water and a vacuum. Half their business is in oil/gas, as well as pipelines and utilities. Last summer they announced they were reducing the number of trucks they were building, from 5 down to 4, and the market got very concerned. Also, had a bit of a stumble with their earnings. The most recent numbers show that the margins and earnings are back up. They now have a solid plan in place, where they are going to double the number of trucks in the US from 450 to 900 in the next 5 years. Dividend yield of 1.1%.

Price:
$32.280
Subject:
CANADIAN
Bias:
BULLISH
Owned:
Yes
2014-11-19 TOP PICK Google
GOOGL-Q
John O'Connell, CFA

Has owned this for quite some time. A wonderfully innovative company. 80% of all cell phones operate on their system. Has a great balance sheet. Visionary leadership that doesn't pay themselves a penny. They are able to attract outstanding talent. A lot of the things that they are working on, like autonomous driven cars, are coming to fruition. These are the kind of guys that are making things happen. They are creating the demand. The YouTube site has not been really monetized as much as it probably could be. Trading at about 18X forward earnings. For company this size, growing this well, with that many opportunities, and a dominant position in so many industries, it is incredibly good value.

Price:
$547.200
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-11-19 TOP PICK Intertain-Group
IT-T
Bruce Campbell (2)

Online gambling. This was spun out of Amaya Gaming (AYA-T) and they still have a relationship with them where Amaya is guaranteeing some revenue for them. A big part of their market is in Bingo. Amaya is in the poker market, which is much more fickle as the players tend to move around from one site to the next. Bingo brings in a different demographic of more females. Made a number of acquisitions in the last couple of months, with several more they are working on. Fairly cheap here. Wouldn't be surprised if Amaya came back in and bought them back.

Price:
$14.130
Subject:
CANADIAN
Bias:
BULLISH
Owned:
Yes
2014-11-19 TOP PICK Kelt-Exploration
KEL-T
John O'Connell, CFA

(A Top Pick Dec 5/13. Down 1.26%.) Has grown its production per share by around 200% plus. Cash flow has grown by a huge amount. Stock has gone down because oil prices are down. Predominantly a natural gas producer. Very, very well run. Producing about 15,000 barrels per day and is going to grow its production next year. Has announced that it is going to reduce its spending budget a little bit next year, but not substantially. Balance sheet is in excellent shape. At these prices, it represents excellent value.

Price:
$9.380
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-11-19 TOP PICK Artek-Exploration
RTK-T
John O'Connell, CFA

This is a reasonably high risk. Have a large amount of very attractive land in the Montney area in north-eastern BC. Big, big partners. Drilled a couple of bad wells and have some execution problems. Got rid of some people. Just drilled a well a little while ago, that was the best ever condensate well in BC. Somebody just bought a huge amount of land at $130 million right beside them. If you ascribe that $130 million value to this company's land, you get about a $350 million value plus production of about $150 million. Trading around $250 million enterprise value. If they keep executing, he doesn't think this company will remain a public company more than a year.

Price:
$2.820
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-11-19 TOP PICK Terra-Firma-Capital
TII-X
Bruce Campbell (2)

Specialized financing for real estate. Management used to operate the IPC Reit before they sold it in 2007. They try to get equity like returns on a debt like structure. Thinks they can earn as high as $0.10 a share next year. Putting a conservative 10X multiple on that, the stock is at around $1.20. Just hired someone from Tricon (TCN-T) who looked after their US operations for a number of years. His focus will be going into the US and try to build out the business down there.

Price:
$0.740
Subject:
CANADIAN
Bias:
BULLISH
Owned:
Yes
2014-11-18 TOP PICK ATS-Automation
ATA-T
Andrew Hamlin

Automation, and as companies globally are trying to be more productive, they are turning to technology, and manufacturing companies are turning to automation. For Canadians, this is a great way to get exposure to that growing trend of automation. Started to focus more and more on service revenue, which is stickier and higher-margin, so they are going to do quite well here. The trend catalyst for the stock is M&A. Free cash flow is good. Leverage is at 2.9 times and will come down through this period of industrial production. It's getting a fair bit of revenue from overseas. This is one of the smaller players, so there is a bit of risk to it.

Price:
$14.400
Subject:
NORTH AMERICAN - INCOME
Bias:
BULLISH
Owned:
Yes
2014-11-18 TOP PICK Catamaran-Corp.
CTRX-Q
Michael Bowman

A pharmacy benefits management company. They just signed a huge deal with Sigma and the stock has kind of faltered after that because they spent a lot of time and money to get this on the road. Now everything is fine. EBITDA for the last three quarters shows that the company is doing a great job of managing revenue. He can see this as being a very large growth area. Because they are smaller than their biggest competitor, Express Scripts (ESRX-Q), he thinks there is going to be more impact. Bought another company called Salveo Specialty Pharmacy, which was immediately accretive.

Price:
$49.220
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
BULLISH
Owned:
Yes
2014-11-18 TOP PICK Discover-Financial-Services-LLC
DFS-N
Andrew Hamlin

There are a number of ways to play credit cards, but he wants exposure to the credit card that has the best position for better consumer spending, job growth and wage growth. This company fits that bill. They offer a “no fee” credit card to the middle-income segment of the US economy. Offers a very good customer service and rewards program that the middle-income earner doesn't normally get. Very strong loan growth. Compared to regional banks it has a higher ROE, higher net interest margin, and yet it trades below an earnings multiple to the regional banks. Feels there is significant growth here.

Price:
$64.980
Subject:
NORTH AMERICAN - INCOME
Bias:
BULLISH
Owned:
Yes
2014-11-18 TOP PICK FT-AlphaDEX-US-Consumer-Staples
FHC-T
Michael Bowman

Has looked at Staples and Discretionary for the last 5 years. The thought has always been that in difficult times we want to own staples, and when things get better we want to own discretionary stocks. In reality, in the difficult times of 2007-2008 and following through to the good times, staple stocks never really declined. This is based on the Alphadex system that was developed in the US, where they look at all the consumer staple stocks in the US, rate them all with some growth and value characteristics, and give them a score. (Top and bottom quartiles are included.)

Price:
$21.320
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
BULLISH
Owned:
Yes
2014-11-18 TOP PICK Greenbriar-Cos.
GBX-N
Michael Bowman

This company is in a perfect storm here. Have a backlog of 43,000 railcars. Have 4 divisions. They make them, repair and refurbish wheels, provide leasing and finance for railcars and also have software to manage railcars. A fantastic company. There is a bumper crop of grain that we need railcars for. We have oil that we need railcars for. Dividend yield of 0.94%.

Price:
$64.450
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
BULLISH
Owned:
Yes
2014-11-18 TOP PICK Veresen-Inc
VSN-T
Andrew Hamlin

Anything in energy, people don't really care about, but it creates an opportunity here. Pipelines and utilities kind of get lumped into that. This is a top quality company, with some massive growth opportunities over the next 5-7 years. Some of the growth opportunities in the US and Canada are going to make the stock stand out over the next few years. Yield of 5.43%.

Price:
$18.850
Subject:
NORTH AMERICAN - INCOME
Bias:
BULLISH
Owned:
Yes
2014-11-17 TOP PICK First-United
FUNC-Q
Benj Gallander

Small bank with 25 branches.  No dividend anymore and he thinks they start to pay one again by 2016 or earlier  Did not increase their share count during the recession.  They can certainly support a dividend.  It should do well.

Price:
$8.495
Subject:
CONTRARIAN INVESTING
Bias:
CONTRARIAN
Owned:
Yes
2014-11-17 TOP PICK CGI-Group--A-
GIB.A-T
John Wilson

(A Top Pick Feb 11/14. Up 19.46%.) Got held back a little bit earlier this year on the Obama Care website fiasco, which really didn't impact their business at all, but was more of a sentiment thing. The underlying business is developing pretty much exactly the way he had hoped and expected. Margins and cash flow are proving to be better than people had thought. Also, thinks we are just a year away from the next good acquisition.

Price:
$41.000
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-11-17 TOP PICK Harmony-Gold-Mining-Co-Ltd
HMY-N
Benj Gallander

South African mining company.  Their cost was quite reasonable.  They lost a little this past quarter.  Management is very experienced.  Don’t pay a dividend any more.  As the price of gold recovers, so should they.  Their balance sheet is quite good as mining companies go.  It’s a nice pick in the gold sector.

Price:
$1.750
Subject:
CONTRARIAN INVESTING
Bias:
CONTRARIAN
Owned:
Yes
2014-11-17 TOP PICK Intercontinentalexchange-Inc.
ICE-N
John Wilson

This company runs the futures exchanges. They also own the New York Stock Exchange. They benefit from volumes and volatility, of which there has been none in the last little while. As the Fed exits QE 3 and as policy rates start to normalize, he thinks volume will come back into financial markets and this company will be the primary beneficiary. Thinks it can work through $300 in the next couple of years.

Price:
$222.200
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-11-17 TOP PICK Iteris-Inc
ITI-A
Benj Gallander

Traffic flow management.  No debt.  Revenues went up nicely last quarter.  Accounting problems recently were rectified.  He could see it doubling.  A well managed company with a fine balance sheet.

Price:
$1.840
Subject:
CONTRARIAN INVESTING
Bias:
CONTRARIAN
Owned:
Yes
2014-11-17 TOP PICK NXP-Semiconductors
NXPI-Q
John Wilson

The fact that they are partner with Apple was part of his thesis, but he sees 3 strong things going for it moving into 2015. 1.) They have the iPhone 6 which gave them a bigger dollar content than they had in the 5. They are the chip that enables Apple Pay. Apple made a really important announcement in China on their mobile payment platform. That same technology can be brought into the iPad and even the iWatch eventually. 2.) Beyond that, they are one of the leading providers of networking technology inside cars. There is a whole ramp of car technology coming in terms of car to car communication. 3.) The final thing is that the US is going to start issuing chip cards for Visa and debit cards. The company has a target of getting to $8 in earnings in the next 3 years or so.

Price:
$74.370
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-11-14 TOP PICK Agnico-Eagle-Mines
AEM-T
Jaime Carrasco

(A Top Pick Dec 20/13. Up 5.93%.) Loves the operational performance of this company. It just doesn't show up on the stock. In their last quarter earnings, they reported a write-down on a lot of their CapX in Alaska. They are actually acquiring a lot of companies. Good management.

Price:
$28.310
Subject:
RESOURCE, UTILITY & REITs
Bias:
UNKNOWN
Owned:
Yes
2014-11-14 TOP PICK Element-Financial
EFN-T
Zachary Curry

This is a non-bank financial which provides some diversification. Their earnings were great, slow and steady. On a valuation basis, it is cheaper than its peers, but also the growth rate is higher than the earnings multiple, which is always a great sign when you can buy something for less than what it is growing at. Balance sheet is in great shape.

Price:
$13.880
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUSLY OPTIMISTIC
Owned:
Yes
2014-11-14 TOP PICK Google
GOOGL-Q
Zachary Curry

Doing great things. Not necessarily focused on advertising although the bulk of the revenue comes from that. Lots of neat projects underway that could develop into bigger things. The main focus for him is the shift from advertising into mobile. Likes their tighter control of the Android operating system, which could make a good competitor for the IOS system.

Price:
$555.190
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUSLY OPTIMISTIC
Owned:
Yes
2014-11-14 TOP PICK Toscana-Energy-Income-Corp.
TEI-T
Jaime Carrasco

This is a royalty play, so there's hardly any management risk to it. It flows out of the ground, the government takes their royalty and this company takes its royalty. Dividend is very safe. The nice thing is that management has almost $40 million in cash that it can spend on other properties. For every $1 they have spent in the past, they have usually seen a $2 return. Yield of 13.34%.

Price:
$12.140
Subject:
RESOURCE, UTILITY & REITs
Bias:
UNKNOWN
Owned:
Yes
2014-11-14 TOP PICK Tourmaline-Oil-Corp
TOU-T
Zachary Curry

(A Top Pick Nov 19/13. Up 3.8%.) Currently it is a little over 60% gas and 40% oil. Released some great 3rd quarter numbers and hit the ball out of the park. Good production growth, the best in their history. Market is not reflecting this. Outstanding management and good balance sheet. Can produce natural gas at full cycle under $3 per MCF.

Price:
$43.380
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUSLY OPTIMISTIC
Owned:
Yes
2014-11-14 TOP PICK Veresen-Inc
VSN-T
Jaime Carrasco

Likes the pipelines that are actually adding capacity. This one is building an LNG plant in Oregon. Once it is built, it is going to add quite a lot of revenue going forward. In the meantime, you get a dividend yield of 5.48%, which is higher than the other pipelines. With all of these plays, pension money needs to find yield in this whole interest rate environment, and that is going to give some backing to all these plays.

Price:
$18.250
Subject:
RESOURCE, UTILITY & REITs
Bias:
UNKNOWN
Owned:
Yes
2014-11-13 TOP PICK Brookfield-Property-Partners
BPY.UN-T
Derek Warren

Brookfield empire has always been criticized for being complicated, so they are trying to silo everything into individual companies. This is the “property” part, with a large portion of its assets being downtown Manhattan, LA, London etc., along with a very good industrial property. Also, have some value added deals where they buy bankrupt hotels and turn them around, etc. It has the growth angle through capital allocation. Quite a decent yield. Trading below NAV. Any time you get something that is cheap with a good yield and growth opportunities, it is a great opportunity. Yield of 4.33%.

Price:
$26.170
Subject:
REIT's
Bias:
BULLISH on REITs
Owned:
Yes
2014-11-13 TOP PICK Cameco-Corporation
CCO-T
Mohsin Bashir

There was a lot of psychological element as to what the spot price of uranium was doing.  This is one of the biggest producers in the world.  Long life, low costs assets.  Japan is now able to restart two reactors.  CCO-T can drive growth.  Operational issues are now resolved.  As they bring on new contracts, it will be positive.

Price:
$20.760
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUSLY OPTIMISTIC
Owned:
Yes
2014-11-13 TOP PICK Fluor-Corp.
FLR-N
Mohsin Bashir

You can pick this up on weakness and see it trade up to the mid to high teens.  Margins are much better on their energy and infrastructure projects.  The book to bill ratio dropped close to 1 and so is weaker right now, but the overall trajectory is positive.

Price:
$65.090
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUSLY OPTIMISTIC
Owned:
Yes
2014-11-13 TOP PICK InterRent-REIT
IIP.UN-T
Derek Warren

A small apartment REIT focused in the Ottawa district. Thinks this is cheap because it doesn't scan so well, but they actually have 7% of their portfolio in one very large redevelopment position, where they have emptied the entire building. As they finish this renovation going on to Q1 and Q2 in 2015, and they start to lease up the building in 2015 and into 2016, there is a tremendous amount of cash flow that is going to come online. In the past had double-digit FFO growth. After a one-year pause, they will be able to continue that in the future. Yield of 3.4%.

Price:
$5.890
Subject:
REIT's
Bias:
BULLISH on REITs
Owned:
Yes
2014-11-13 TOP PICK Pure-Multi-Family-REIT-LP
RUF.U-X
Derek Warren

This is one of those orphan companies. Very small with about a $130 million market cap. Trades in US or Cdn dollars on the Cdn exchange. Has kind of been forgotten in the shuffle. In the hottest market
in the apartment sector, i.e. Texas. Trades at a double digit discount to NAV. If you can wait a while, the market has to recognize its value. Yield of 8.28%.

Price:
$4.530
Subject:
REIT's
Bias:
BULLISH on REITs
Owned:
Yes
2014-11-13 TOP PICK Trans-Canada-Corp
TRP-T
Mohsin Bashir

A republican senate is positive for TRP-T, but there are plenty of home grown opportunities.  Keystone would be an added benefit.

Price:
$56.450
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUSLY OPTIMISTIC
Owned:
Yes
2014-11-12 TOP PICK AGT-Food--and--Ingredients
AGT-T
Brendan Caldwell

This company provides vegetable-based proteins, a lot of pulses and a lot of beans, into food products. This has tremendous exposure to the US with distribution to Kraft (KRFT-Q) and a lot of the other US food companies. With the interest in growth of gluten-free foods, their business has taken off. Dividend yield of 2.25%.

Price:
$27.100
Subject:
CANADIAN VALUE
Bias:
UNKNOWN
Owned:
Yes
2014-11-12 TOP PICK Canadian-Natural-Rsrcs
CNQ-T
Paul Gardner, CFA

2.17% dividend.  He sold BCE-T to buy this position.  This is a great opportunity to own some really cheap assets.  Oil prices are stable out West relative to WTI. 

Price:
$41.910
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Yes
2014-11-12 TOP PICK DH-Corporation
DH-T
Brendan Caldwell

Cheques are now just a small component of their business. They provide electronic processing for so much financial services, including mortgages, payables, accounting, etc. Just made a US acquisition so that now 50% of their revenue will be coming out of the US. Dividend yield of 3.57%.

Price:
$36.100
Subject:
CANADIAN VALUE
Bias:
UNKNOWN
Owned:
Yes
2014-11-12 TOP PICK Magellan-Aerospa
MAL-T
Brendan Caldwell

Bombardier (BBD.B-T) has had its struggles. Has to both develop a product and sell it. This company has some very high quality products and can play both sides off against the middle. They supply everybody. Demand for new aircraft has been significant. The concern is that with energy prices coming lower, a lot of what has driven the demand for new aircraft is the new fuel efficient designs that a lot of manufacturers have incorporated. Dividend yield of 1.62%.

Price:
$13.770
Subject:
CANADIAN VALUE
Bias:
UNKNOWN
Owned:
Yes
2014-11-12 TOP PICK Mainstreet-Equity-Corp
MEQ-T
Paul Gardner, CFA

(Top Pick Feb 11/14, Up 9.93%) Very little vacancy.  Apartment buildings out west where there is net migration there, there are no rent controls and there are low vacancies.  A lot of assets in Edmonton.  Trades at a significant discount to its NAV.

Price:
$40.170
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Yes
2014-11-12 TOP PICK Tricon-Capital-Group
TCN-T
Paul Gardner, CFA

It has US assets so you benefit from the Canadian dollar.  They just made an acquisition that has added to their assets.  They buy individual, distressed homes in the Southern US.  This is incredibly cheap, a 15% discount to its NAV.  Their management fees keep going up.  It is the US housing market, but a Canadian name.

Price:
$8.090
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
BULLISH
Owned:
Yes
2014-11-11 TOP PICK Acadian-Timber-Corp
ADN-T
Bill Carrigan

Hitting a new 52-week high today. Thinks this works higher. An overlooked stock, which is a good sign.

Price:
$15.730
Subject:
TECHNICAL ANALYSIS
Bias:
UNKNOWN
Owned:
No
2014-11-11 TOP PICK CAE-Inc
CAE-T
Bill Carrigan

(A Top Pick March 18/14. Down 2.77%.) There are not a lot of aerospace choices in Canada. He had picked this one because it was a pure play. Thinks that very soon we are going to make another 52-week high, and then we get a clear breakout. A weaker Cdn$ will probably help.

Price:
$14.480
Subject:
TECHNICAL ANALYSIS
Bias:
UNKNOWN
Owned:
No
2014-11-11 TOP PICK Chartwell-Seniors-Housing
CSH.UN-T
Christine Poole

The leading seniors housing operator in Canada. About 80% of their suites are in Canada with 20% in US. Have refocused by selling off non-core properties in the US and putting the money back into Canada. She likes the demographics. We are all living longer. The population of seniors, 75+, is going to be growing at 3 times the general population rate. The penetration of seniors housing is quite low. Yield of 4.66%, but they are at the point where they could be increasing this in the next year.

Price:
$11.570
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2014-11-11 TOP PICK Walt-Disney
DIS-N
Christine Poole

A media conglomerate and content provider. Stock has pulled back a little. ESPN just signed a new affiliate agreement this past year, so going forward she expects an improvement in revenues. There is a lot of momentum behind some of their movies. When the studio does well, this is a real positive for their other businesses, such as parks and resorts, because they can leverage off those themes. Have also been putting some money in to improve some of the attractions in their resorts, which is helping to drive traffic as well as spend. Disney Shanghai is opening at the end of 2015, but after that, she expects their CapX to be moderating.  

Price:
$89.980
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2014-11-11 TOP PICK Lundin-Mining-Corp.
LUN-T
Bill Carrigan

The “back end of the market” is the deep cyclicals, industrials and metals. In the miners, inventory is thin and it is an overlooked sector. Thinks the stock is in the perfect spot. Chart shows a series of higher lows from 2011. Doesn't see a lot of downside.

Price:
$5.520
Subject:
TECHNICAL ANALYSIS
Bias:
UNKNOWN
Owned:
Yes
2014-11-11 TOP PICK PPG-Industries
PPG-N
Christine Poole

A global coatings company. In the last few years they decided to focus on performance coatings, coatings in aerospace. They do all the painting for Airbus and Boeing planes. Made a few acquisitions in-house paints to gain share. Also, have industrial application, and automotive coating with strong share in the US, China and Europe. Recently announced an acquisition of a Mexican company that is a leading paint manufacturer. Yield of 1.3%.

Price:
$205.260
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2014-11-10 TOP PICK Absolute-Software-Corp.
ABT-T
Robert McWhirter

Makes firmware embedded security, particularly for laptops and tablets as well as for the management of computer and mobile devices. New CEO. Reported 10% sales growth. Free cash flow yield of 2.7%. Cash of $80 million is 23% of their market cap. Cash flow is expected to grow at 17% in 2015, and accelerate to 19% for the June/16 year. Shares are trading at an enterprise value of 7X. Looks reasonably priced.

Price:
$7.180
Subject:
CANADIAN & TECHNOLOGY
Bias:
BULLISH on SMALL CAPS
Owned:
No
2014-11-10 TOP PICK AGT-Food--and--Ingredients
AGT-T
Joey Mack

Second lien notes. 9% yield. Feb. 14, 2018. These bonds have a prior claim on the assets. It has had a good run, but still a good yield. Thinks they will get called out early.  

Price:
$26.850
Subject:
FIXED INCOME
Bias:
Bullish on Fixed Income
Owned:
Yes
2014-11-10 TOP PICK Descartes
DSG-T
Robert McWhirter

A global logistics software company, with high recurring revenue. Has been about half as volatile as compared to the market, with a five-year beta of 0.4. Also, has a low earnings variability that has an attractive rank of A-. Cash flow was up 13% year-over-year to 3.6%. Cash is about 12% of its overall market. Cash flow is forecast to grow at 16% for January for the 2000 (?) fiscal year and ranks in the top 10% of his Quant model.

Price:
$17.000
Subject:
CANADIAN & TECHNOLOGY
Bias:
BULLISH on SMALL CAPS
Owned:
No
2014-11-10 TOP PICK Prometic-Life-Sciences-Inc.
PLI-T
Robert McWhirter

Manufacturing company with a bonus of having a drug called PBI4050, which supposedly works better than Intermune, and works even better in combination with the Intermune product. Have proprietary filtering technologies used for large-scale purification of drugs. They use their technology to extract plasma from blood. There are 3 proteins that they are extracting from the plasma including plasminogen, IBIG and AANT. Market cap of just under $1 billion.

Price:
$1.890
Subject:
CANADIAN & TECHNOLOGY
Bias:
BULLISH on SMALL CAPS
Owned:
Yes
2014-11-10 TOP PICK Rona-Inc
RON-T
Joey Mack

5.4% Bond maturing Oct 20, 2016. They are continuing to chug along and make money. It is a lot compared to the Government of Canada bonds.  

Price:
$13.660
Subject:
FIXED INCOME
Bias:
Bullish on Fixed Income
Owned:
Yes
2014-11-10 TOP PICK Sherritt-International-Corp.
S-T
Joey Mack

Sherrit 8% bonds maturing Nov. 15, 2018. Sold their coal business and restructured their balance sheet. This is the shortest term maturity the company has. It is a good time to take a look at them because of the balance sheet restructuring.

Price:
$2.600
Subject:
FIXED INCOME
Bias:
Bullish on Fixed Income
Owned:
Yes
2014-11-07 TOP PICK Crescent-Point-Energy-Corp
CPG-T
Michael Decter

Outstanding CEO. Likes the management team. Just reported and they are through 140,000 barrels a day. Dividend of 7.46%, which he believes is sustainable. Have done a lot of tuck-under acquisitions and thinks they will do more organic growth. Have pretty good core areas. They own their own infrastructure, so they own rail terminals and are shipping more than half of the oil they produce by rail to very specific refineries, where they get a good price.

Price:
$36.810
Subject:
CANADIAN
Bias:
BULLISH
Owned:
Yes
2014-11-07 TOP PICK Dow-Chemical
DOW-N
Michael Decter

This company made a big switch. They were in commodity businesses that had low margins. Decided to shed some of their historic businesses and go into higher value chemical products that have higher margins. Low raw material costs pushed up margins for the 9th straight quarter in the plastics business. Have a lot of room to the upside. Yield of 2.99%.

Price:
$49.500
Subject:
CANADIAN
Bias:
BULLISH
Owned:
Yes
2014-11-07 TOP PICK Keyera-Corp
KEY-T
Michael Decter

Has had terrific growth, and more than that it has about $1.7 billion of growth projects locked into 2017, which gives them a continuation of their really strong growth which they've had in earnings. Up 88% in the quarter over last year. Their EBITDA growth should continue to be strong double-digit. Not just extracting natural gas liquids and selling them that way, but are into much more complicated things that give them a range of markets. Dividend yield of 2.74%.

Price:
$94.370
Subject:
CANADIAN
Bias:
BULLISH
Owned:
Yes
2014-11-07 TOP PICK Tata-Motors-Ltd.
TTM-N
Keith Richards

(A Top Pick Sept 30/14. Up 6.47%.) This is probably his favourite stock. Besides the tiny little cars they manufacture in India, they also own a huge industrial machine manufacturing company, and Jaguar Land Rover. Thinks it has plenty of upside. Chart shows a long-term uptrend and starting to break out. This is probably going to be an uptrend for a few years. On any uptrend, you buy on the dips.

Price:
$46.540
Subject:
TECHNICAL ANALYSIS
Bias:
BULLISH
Owned:
Yes
2014-11-07 TOP PICK SPDR-Technology-ETF
XLK-N
Keith Richards

Technology. He really likes this sector. This is a great way of playing the big US technology stocks. They have been leading group through most of the bull market. He is seeing new highs on this and money flow moving into the technology sector. Some of the big components such as Microsoft, are breaking out of 10-12 year sideways patterns.

Price:
$40.840
Subject:
TECHNICAL ANALYSIS
Bias:
BULLISH
Owned:
Yes
2014-11-07 TOP PICK China-Equity-Hedged-to-Cdn-ETF
ZCH-T
Keith Richards

This ETF will hold nothing but ADRs. The accounting standards on ADRs fit international standards, so you are not going to get zinged by some obscure Chinese accounting methodology on some company. Chart shows it had formed a base in 2012-2013 and broke out upwards and then based again and is now starting to break out. Has a decent pattern. Overall, this looks okay.

Price:
$18.180
Subject:
TECHNICAL ANALYSIS
Bias:
BULLISH
Owned:
Yes
2014-11-06 TOP PICK Carmike-Cinemas-Inc.
CKEC-Q
Colin Stewart

CGX-T said they are not interested in expanding outside of Canada but there is no room left in Canada for them. CKEC-O’s valuation is 5-6 times vs. CGX-T being double that.

Price:
$28.070
Subject:
NORTH AMERICAN - LARGE
Bias:
Bullish on Canadian Equities
Owned:
Yes
2014-11-06 TOP PICK DeeThree-Exploration
DTX-T
Mason Granger

Bought this recently because he felt the stock got too cheap. US investors pile into Canadian stocks, and then exit in a less than graceful way. He had felt that one of the top shareholders was liquidating their position, so he used the weakness to Buy. Delivered over 40% per share growth through light oil over the last number of quarters. Have a significant inventory in 2 core plays that should give them a depth of low risk development drilling for years to come. They have done this with very modest debt levels. Trades at just over 4X on a debt adjusted cash flow basis.

Price:
$6.410
Subject:
CANADIAN ENERGY
Bias:
UNKNOWN
Owned:
Yes
2014-11-06 TOP PICK Hudson-Bay-Co.
HBC-T
Colin Stewart

Thinks they will spin some of the real estate out into a REIT and may sell the best properties directly, leasing them back. The retail operation is only trading at 4 times. The retail operations are actually improving. The outlook is pretty good. There are some catalysts coming in the next 6-12 months with what they will do with these real estate assets.

Price:
$15.250
Subject:
NORTH AMERICAN - LARGE
Bias:
Bullish on Canadian Equities
Owned:
Yes
2014-11-06 TOP PICK Spartan-Energy-Corp
SPE-T
Mason Granger

(A Top Pick Feb 20/14. Up 15.38%.) Their 3rd iteration and have made money every time. Following a formula of buying oily assets that have high net backs, moderate declines, good capital efficiencies, and they put the numbers on the board in terms of growth per share. They are looking for 30% growth in production every year. Debt to cash flow of 0.3 times. They are knocking the ball out of the park in terms of well rates they are bringing on stream in the 2nd half of this year. Well positioned to beat their numbers and blow through their exit guidance.

Price:
$3.000
Subject:
CANADIAN ENERGY
Bias:
UNKNOWN
Owned:
Yes
2014-11-06 TOP PICK Tuckamore-Capital-Management
TX-T
Colin Stewart

A turn around restructuring story. They took on too much debt originally. They have 6 different businesses, 4 of which they are likely to sell. They have an energy services company, and a demolition company, both of which are doing very well. As they sell them off they can pay down debt and restructure the balance sheet. Could be a double or triple over the next couple of years. There is some risk in this one, however. The management team owns a lot of stock.

Price:
$0.720
Subject:
NORTH AMERICAN - LARGE
Bias:
Bullish on Canadian Equities
Owned:
Yes
2014-11-06 TOP PICK Whitecap-Resources
WCP-T
Mason Granger

Very sustainable dividend. Have been very focused on maintaining a modest decline rate. When your decline rate on your production base is lower and your capital efficiencies on incremental drilling are really good, you have a better chance of delivering free cash flow that you can pay a dividend out of. That is exactly what they do. One thing that is under-appreciated is the rock solid hedging they have in place. In the first half of 2015, they have about 60% of their production hedged at close to $100 a barrel Cdn. Yield of 4.95%.

Price:
$15.140
Subject:
CANADIAN ENERGY
Bias:
UNKNOWN
Owned:
Yes
2014-11-05 TOP PICK Paramount-Resources
POU-T
Dennis Da Silva

Natural gas. Management doesn't pay themselves a salary. Well-run. Going from 20,000 BOE’s a day to 70,000 because of their new plant online. Thinks they are going to be at 125,000 by 2017 because they just raised $350 million, of which $150 million is going towards 2 new plants. Has tremendous growth ahead of itself. Look at this as a 2016-2017 growth story.

Price:
$45.700
Subject:
CANADIAN RESOURCE
Bias:
UNKNOWN
Owned:
Yes
2014-11-05 TOP PICK RMP-Energy
RMP-T
Dennis Da Silva

An infrastructure story that is going to grow from 9000 to 15,000 by the end of 2015, because of a battery they just built. They have been gas plant constrained, which will get done for the 1st quarter next year, and will grow to 22,000 BOE's for next year and going into free cash flow multiple generation.

Price:
$5.800
Subject:
CANADIAN RESOURCE
Bias:
UNKNOWN
Owned:
Yes
2014-11-05 TOP PICK Tourmaline-Oil-Corp
TOU-T
Dennis Da Silva

Natural gas. Can't say enough about management. It owns over 10%, and the president doesn't take a salary. Has always been at the top of the list for growth per share. They are poised for 35% growth in production next year and the year after. This is a top core holding for him.

Price:
$40.770
Subject:
CANADIAN RESOURCE
Bias:
UNKNOWN
Owned:
Yes
2014-11-05 TOP PICK Vanguard-MSCI-Emerg.-Mkt.-ETF
VEE-T
John DeGoey

In his estimation, emerging markets are the most under owned asset class in Canada. Canadians have too much Canadian equity and, in this market, probably too much income. Emerging markets are growing faster than any other part of the world and are still relatively under owned.

Price:
$28.900
Subject:
PERSONAL FINANCE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2014-11-05 TOP PICK Vanguard-S-and-P-500-Index-ETF
VFV-T
John DeGoey

This is going to be a more targeted large cap sort of bias. Vanguard is starting to lower the costs on their products. It has a management fee 0.08 basis points. Crazy cheap.

Price:
$40.920
Subject:
PERSONAL FINANCE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2014-11-05 TOP PICK Vanguard-FTSE-All-World-ex-Canada
VXC-T
John DeGoey

This is a product that just recently came out. It invests in 96% of the world outside of Canada. Canadians are guilty of home country bias. As investors, we need to find ways to get out of Canada and into other parts of the world.

Price:
$26.170
Subject:
PERSONAL FINANCE & ETFs
Bias:
UNKNOWN
Owned:
Yes
2014-11-04 TOP PICK Rakuten-Inc
4755-JP
Prakash Hariharan

A conglomerate that has effectively been gobbling up a lot of companies. Looks very interesting on account of the whole e-commerce space that is getting a complete re-rating in terms of multiples. A whole bunch of Japanese consumers, that are highly tech savvy, have a lot of this. This has a platform that makes it the Alibaba (BABA-N) equivalent in Japan. Over the next 6-8 months, as the e-commerce business grows in footprint, this will be able to post some better numbers.

Price:
$0.000
Subject:
GLOBAL DIVIDEND
Bias:
UNKNOWN
Owned:
Unknown
2014-11-04 TOP PICK Nippon-Antenna
6930-JP
Lorne Steinberg

This profitable specialty company that makes antennas, is not just trading at around 10X earnings with a 3.2% dividend yield, but is truly trading for less than its net cash. If they shut it down today and just distributed the cash and gave the company a way, you would still have a profit.

Price:
$0.000
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
Yes
2014-11-04 TOP PICK Corning-Inc
GLW-N
Prakash Hariharan

There are a few things that line up for this company. It has had a big call option on Apple (AAPL-Q) for a while in terms of iPhone 6, etc with its Gorilla Glass. One of its competitors, Sapphire Group, pulled out. Dividend quality and dividend coverage and Price to Book, compared to its peer group, is trading at a huge discount. Thinks there is a catch up in terms of the value proposition that the stock offers over the next 1-2 years. Dividend yield of 1.95%.

Price:
$20.680
Subject:
GLOBAL DIVIDEND
Bias:
UNKNOWN
Owned:
Unknown
2014-11-04 TOP PICK Hewlett-Packard-Co
HPQ-N
Lorne Steinberg

Trading at less than 10X earnings. No net debt if you don't count the financing debt they use to finance equipment. Huge free cash flow generation. Company has returned to earnings growth. Thinks revenue growth will start next year. It will become a growth story again, to some degree, trading at an incredibly cheap valuation, probably $4 a share in the next couple of years. Recently announced they are going to split into 2 pieces, probably in 2015. Thinks this is a $50 stock. Yield of 1.78%.

Price:
$35.900
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
Yes
2014-11-04 TOP PICK Manulife-Financial
MFC-T
Prakash Hariharan

Now a well run company compared to his past history. One big proxy has always been a rising interest-rate environment. Feels the value proposition, in terms of its growth in Asia and its footprint in a core business environment, looks interesting. Yield of 2.93%.

Price:
$21.220
Subject:
GLOBAL DIVIDEND
Bias:
UNKNOWN
Owned:
Unknown
2014-11-04 TOP PICK Royal-Dutch-Shell-PLC--A-
RDS.A-N
Lorne Steinberg

A big, global, energy company with good natural gas exposure. Natural gas prices are terrible in Canada but are much better in Europe, and it is a much more profitable business. A vertically integrated company so they are in the refining business as well, which has been a good place to be. Huge cash flow generation. A company this strong can take advantage of a very weak sector, because they will be a net acquirer of very cheap assets that other companies not financially sound will be forced to sell. 5.3% dividend yield.

Price:
$68.790
Subject:
Deep Value Global Equities
Bias:
CAUTIOUS
Owned:
Yes
2014-11-03 TOP PICK American-Financial-Group-Inc.
AFG-N
Norman Levine

A conservative name in an expensive market.  Not in everyday insurance.  Workers compensation, liability for lawyers, transportation equipment.  Highly profitable.  1.7% yield raised consistently.

Price:
$59.940
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-03 TOP PICK Bank-of-Nova-Scotia
BNS-T
Norman Levine

The only Canadian bank he owns.  It has the smallest domestic footprint.  They are big in emerging markets and are strong going forward.  3.87% dividend.

Price:
$68.780
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-03 TOP PICK CitiGroup
C-N
Gordon Reid

Just recently bought this. Government charges are starting to wane. Against its peers, this bank is very, very inexpensive. Trading at about 10X earnings, versus 13X for the 40 largest banks. Yield of 0.07%.

Price:
$53.470
Subject:
US EQUITIES
Bias:
UNKNOWN
Owned:
Yes
2014-11-03 TOP PICK Priceline.com-Inc.
PCLN-Q
Gordon Reid

Expecting $65 a share in earnings next year. Reporting tomorrow morning at 7 AM, and he expects good things. They are growing their gross bookings in the high 20% range.

Price:
$1198.520
Subject:
US EQUITIES
Bias:
UNKNOWN
Owned:
Yes
2014-11-03 TOP PICK SNC-Lavalin-Group-Inc.
SNC-T
Norman Levine

The company immediately got rid of people who were behind the scandal.  At the same time they brought in a lot of new business.  Bought a British oil stock and the recent oil price drop caused the stock to come down needlessly. 

Price:
$47.590
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-03 TOP PICK Tenneco-Inc.
TEN-N
Gordon Reid

They are in the exhaust and ride control, manufacturing business. Most of their business comes from the OEMs. There are about 16.5 million new vehicles produced every year in North America. He thinks this can grow to 18-18.5 million before the cycle is done. There is a strong catalyst in that the exhaust systems’ requirements become tighter and tighter in terms of emission controls. Trading at about 10X earnings. Great free cash flow yield.

Price:
$52.520
Subject:
US EQUITIES
Bias:
UNKNOWN
Owned:
Yes
2014-10-31 TOP PICK Vanguard-Large-Cap-ETF
VV-N
John Hood

(A Top Pick Oct 15/13. Up 20.77%.) This holds about 600 US stocks, and gives you a broad US exposure based on the S&P 500. Dirt cheap at about 7 or 8 basis points.

Price:
$92.586
Subject:
OPTION STRATEGIES & E.T.F.S
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-10-31 TOP PICK George-Weston-Ltd.
WN-T
Hap (Robert) Sneddon FCSI

Controls Loblaw's (L-T) which just bought Shoppers. Fantastic brands. A reasonably boring company. Has a fantastic war chest and has to decide what it is going to do with its money. Recently, it has just broken out above a pretty significant level of $91.

Price:
$92.080
Subject:
TECHNICAL ANALYSIS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Yes
2014-10-31 TOP PICK iShares-S-and-P-TSX-Equity-Income
XEI-T
John Hood

This used to be 55 basis points, which is very high. They chopped it along with a number of other ETF management fees down to 20 basis points. This is now yielding about 4.3% and he likes it. This has lots of growth in it.

Price:
$22.570
Subject:
OPTION STRATEGIES & E.T.F.S
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2014-10-31 TOP PICK SPDR-Utilities-E.T.F.
XLU-N
Hap (Robert) Sneddon FCSI

Utilities have been hitting record highs. Usually they do well in softer environments, but in the last 2 months, they have shown great strength. Well above its uptrend and he is looking to add to his position. The market does really not believe that we've got escape velocity growth.

Price:
$45.470
Subject:
TECHNICAL ANALYSIS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Yes
2014-10-31 TOP PICK SPDR-Health-Care-E.T.F.
XLV-N
Hap (Robert) Sneddon FCSI

Healthcare. Chart shows a V bottom this month. As a longer-term investor, he would like to hold this for a while. If it came back to the breakout level in the low $60, he would like to buy some more. Healthcare is a generational thing that we are just embarking on.

Price:
$67.270
Subject:
TECHNICAL ANALYSIS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Yes
2014-10-31 TOP PICK BMO-S-and-P-TSX-Oil--and--Gas-ETF
ZEO-T
John Hood

You get a little more play on Trans Canada Pipe (TRP-T) and Enbridge (ENB-T), which he likes. This should work out very well because of Trans Canada Pipe leading the way on the Canada east contract. He thinks that is going to work out very well. This has lots of growth in it.

Price:
$14.340
Subject:
OPTION STRATEGIES & E.T.F.S
Bias:
BULLISH on US ECONOMY
Owned:
No
Showing 1 to 120 of 20,262 entries
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