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

Table View - Opinions in Detail

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Implied Signal Stock Symbol Company Comment Source Program Airdate Airdate Price Opinions $ Goal Expert Program Topic Expert's Bias Own or Relationship Actions
  
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-11-26 $0.020

Markets. Small caps were outperforming earlier in the year, but for the last 3 years have underperformed quite a bit versus the larger caps. There is a lot of selling still going on in terms of tax losses. This is an opportunity to buy them, but he wouldn’t expect them to move up until next year because of people trying to sell their losers by year end. He is very much “growth at a reasonable price”, so is looking for companies that are growing earnings, good balance sheet, good visibility and a management team that historically have done well. His turnover period for his portfolios is about 30%, so he has about a 3 year Hold period for most of his stocks.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-11-26 $0.020

Energy. Right now you really have to focus in on the companies that have clean balance sheets and don’t have a lot of debt. With a lower commodity price, cash flow generation is going to be lower. Thinks the energy sector has been overdone and people are throwing out the baby with the bathwater. There is some very good value within the sector. You have to be selective and make sure the companies have good balance sheets.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-11-26 $0.020

Markets. China is stimulating. They don’t want to see their economy fall. US is approaching what he would call Escape Velocity, where their economy is becoming self-perpetuating on its own. The only potential fly in the ointment is Europe. The German DAX is up 16% since Mario Draghi started making comments about buying sovereign bonds, etc., which is telling you that investors are pragmatic, maybe more so than certain elements of German policymakers. They realize that quantitative easing is unfortunately necessary for Europe. It is also a response to the fact that Europe by and large, is lower than it has been, so this is a stimulus for European exports. Unfortunately there has been a lot of wind come out of the energy sector, and has come out of the miners for years now. Money continues to go into certain select areas, so this is very much a stock pickers market.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS _N/A View
COMMENT AC-T Air Canada (B) Market Call (BNN TV) 2014-11-26 $10.220

Have done a very good job over the last few years in terms of cutting their costs, getting their earnings up and rectifying a lot of the problems that they did have. Lower oil prices will obviously help them. This is one that you should just buy for a trade and not hold for something like 3 years, as a lot of low hanging fruit has already taken place for them.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Unknown View
COMMENT AGF.B-T AGF Management (B) Market Call Tonight (BNN TV) 2014-11-26 $10.190

They have enough money to pay their dividend. Their free cash flow ratio at the end of the last quarter was 97%. Have a whole lot of cash that they can use to fund the dividend for the next 7 years. If there is a market pullback in excess of 10%, he thinks they will cut their dividend. If you think markets are going to fall, he wouldn’t own, but if you think markets are going to go higher, you can buy this as a flyer, but not too much of it.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Yes View
PAST TOP PICK AGU-T Agrium Market Call Tonight (BNN TV) 2014-11-26 $109.200

(A Top Pick Nov 15/13. 19.58%.) He sees 2017 EBITDA’s being 50% higher than 2013. They get this from cost-cutting, wholesale expansion and new products. This is a name that goes much higher, and you can Buy into this weakness, probably in the next few days.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Yes View
PAST TOP PICK AIF-T Altus Group Market Call (BNN TV) 2014-11-26 $23.510

(A Top Pick Oct 24/13. Up 68.99%.) Software and valuations for real estate. Just sold his holdings recently. The quarter was alright, but he had high expectations. Felt it got a little bit ahead of itself. Likes the management team.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS No View
COMMENT AQN-T Algonquin Power & Utilities Corp Market Call Tonight (BNN TV) 2014-11-26 $9.540

This has been one of his favourite stocks. He sees their free cash flow rising 30% compounded annually over the next couple of years. This is from new projects coming online and future rate base hikes. Sees them paying a sustainable 4% dividend, anchored by a 65% payout ratio. He models high dividend growth of 11% compounded annually. It still trades cheaper than its peers.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
DON'T BUY ATP-T Atlantic Power Corp. Market Call Tonight (BNN TV) 2014-11-26 $2.590

Their merger and sale is off the table. They slashed their dividend to $0.12. He thinks that there is no way that they can do any developments and there is no free cash flow after the dividend. His call is that this should be a $2 stock.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
COMMENT AYA-T Amaya Gaming Group Inc. Market Call (BNN TV) 2014-11-26 $38.500

Stock has done phenomenally well. Made a number of acquisitions and for a while he was a bit worried, because each time they came out with guidance they wouldn’t hit their numbers. This is the 1st time they have hit their numbers. Have the backing of a lot of US investors. A 2-3 years hold is very difficult as there is so much regulatory environment in the gaming industry. You have to be prepared to take some money off the table at certain points of time.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
TOP PICK BAM.A-T Brookfield Asset Management (A) Market Call Tonight (BNN TV) 2014-11-26 $56.220

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%.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Yes View
WAIT BNP-T Bonavista Energy Corp Market Call Tonight (BNN TV) 2014-11-26 $10.490

This management deserves a lot of credit. They have made a lot of strides. A checkmark for organic execution that we saw in the last quarter. High production. Unfortunately, $75 WTI and $4 natural gas, their effective payout ratio goes to 154% and debt to cash flow goes to an uncomfortable 3.2%, and you don’t want to be above 3. Their cash flow per share growth falls next year by about 20%. He would wait and watch for crude to stabilize at least.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
COMMENT BTE-T Baytex Energy Corp Market Call Tonight (BNN TV) 2014-11-26 $29.750

This was a very high growth rate stock. They bought Aurora in June that was going to be very accretive. The risk was that they took on more debt at the time of the transaction, and debt to cash flow went to about 2, which was fine if oil prices stay higher, but not good if oil prices do what they did. Their payout ratio, at $75 WTI and $3.50 natural gas he models at 160%, so that is not a safe dividend.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
PAST TOP PICK C-N CitiGroup Market Call Tonight (BNN TV) 2014-11-26 $54.130

(A Top Pick Nov 15/13. Up 7.34%.) For US financials, he thinks the best is yet to come. They are cheap. They are levered to an improving global economy. Have the whole housing cycle in front of them. You want to own US financials.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Yes View
COMMENT CBL-T Callidus Capital Corp Market Call (BNN TV) 2014-11-26 $21.500

This is a lender. Went public at about $14 and was heavily oversubscribed. Every quarter they have come out with very good earnings, and thinks they have a lot of runway here in doing other loans with higher fees. Expects the earnings to ramp up quite a bit. Trading at a low multiple compared to others. Management is quite adept at putting the money to work and having a good return on capital.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
COMMENT CDV-T Com Dev International Ltd. Market Call (BNN TV) 2014-11-26 $3.750

In aerospace. They previously had some engine team issues, where they had some contracts, bid on them, but didn’t charge enough and ended up losing a lot of money. Because of that, he had stayed away for a while. Now the space has done fairly well. It was never traded at a high valuation and has always been fairly cheap. However, every time he thinks it is cheap, it is cheap for a reason.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS No View
BUY CEU-T Canadian Energy Services & Technology Market Call (BNN TV) 2014-11-26 $7.550

Energy services company that helps with fluid handling. Looking at a long-term chart the company has done very well but has come off quite a bit in the last 6 months. Have come out with very good earnings every quarter, but thinks it is getting caught up with oil prices coming down. If you are a long-term believer in management, which he is, you should continue to hold. It is also a pretty good buying opportunity.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
PAST TOP PICK CNE-T Canacol Energy Ltd. Market Call (BNN TV) 2014-11-26 $3.270

(A Top Pick Oct 24/13. Down 32.81%.) Still likes the story. A Colombian producer. There are high expectations in terms of exploration, and thinks there is still a lot of that coming. It is going to be difficult with oil prices down at this level. Thinks it has been oversold.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
COMMENT CNR-T Canadian National R.R. Market Call Tonight (BNN TV) 2014-11-26 $83.750

The Company expects their crude by rail traffic to stay strong. Given the upfront investment made by their customers, they see crude by rail as a viable long-term growth business. Most of their growth is coming from heavy producers, which are a little bit more insulated. Management is forecasting that the Keystone will go through and is included in their assumptions, so this is not seen as a big threat. Probably the bigger risk is if the macro were too slow or Europe to fall apart.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
COMMENT CPG-T Crescent Point Energy Corp Market Call Tonight (BNN TV) 2014-11-26 $34.000

A little bit better than its peers because it went into this oil price decline with a very healthy balance sheet, and are 30% hedged at $93 for 2015. Mechanically, the company is doing really well. Have been growing their production and have the Torque asset which continues to add inventory. However, at $75 oil, the payout ratio goes to 154% and their cash flow per share declined by 18% in 2015 over 2014. Not a low-risk story any more. He owns a little bit.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Yes View
BUY CRR.UN-T Crombie Real Estate Investment Trust Market Call Tonight (BNN TV) 2014-11-26 $12.990

Likes this company. He sees it as a $14.75 stock in 12 months. Yield of almost 7%. Yield is becoming more sustainable at around 94% for 2015, versus 107% for the last 5 years. This has a defensive portfolio with grocery stores, yet growing nicely at about 4%, in line with retail peers. Pretty well positioned for future growth.

$14.75 in 12 months Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
BUY CS-T Capstone Mining Corp. Market Call (BNN TV) 2014-11-26 $2.110

One of his favourite copper stories.  Currently producing $1.90-$2 a pound copper. Have done very well in terms of their operations. There are very few ways to play copper in Canada now. Management has done a good job. If you want copper exposure, this is a way to really play it. Expects production to grow over the next few years and their costs to come down. A good entry point.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
BUY CSH.UN-T Chartwell Seniors Housing Market Call Tonight (BNN TV) 2014-11-26 $11.900

Likes the demographic tailwinds. If rates are going to rise, you want to own a REIT with a low payout ratio, a high growth rate, improving leverage, organic growth and one that can focus on developments. This company displays all of this. It is also a potential takeover target.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
COMMENT CVE-T Cenovus Energy Market Call Tonight (BNN TV) 2014-11-26 $27.020

Even with WTI as $75 and natural gas at $3.50, he still models a payout ratio of about 132%, 2015 estimates. This is not a safe dividend.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
BUY CWL-T Caldwell Partners Int'l (A) Market Call (BNN TV) 2014-11-26 $1.580

Seem to have a lot of visibility. They are working on deals presently. Pays a nice dividend and is trading at a low multiple. Too small for him, but if he were running a microcap fund, he would have it in his portfolio. Pays a dividend of over 5%.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS No View
TOP PICK DIV-T Diversified Royalty Corp. Market Call (BNN TV) 2014-11-26 $2.470

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. Expect 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.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
COMMENT ENB-T Enbridge Market Call Tonight (BNN TV) 2014-11-26 $53.540

Probably the cleanest pipeline with the best rate of growth. Sees about 12% free cash flow growth for the next number of years. Moreover, they are trading at levels in line with their peers. Better assets and better earning visibility, but at peer average valuation.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
PAST TOP PICK ERF-T Enerplus Corp Market Call Tonight (BNN TV) 2014-11-26 $16.360

(A Top Pick Nov 15/13. Down 9.25%.) When he thought this was getting a little ahead of itself at $25, he sold half his position. When it got to $20, and he saw the wheels potentially coming off, he sold more. He still has a little bit left. Very good relative to their peers and are very sustainable.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Yes View
COMMENT ESP-T Espial Group Market Call (BNN TV) 2014-11-26 $1.410

They try to help cable providers beat some of the companies, such as Netflix. Have signed one large deal which he thinks is going to be deployed later on in the year. Stock has come off quite a bit in the last number of months. Feels half the market cap is in cash, and there will be some deployment coming in the back half or early part of 2015. Earnings are about to start to come through. Have done fairly well operationally. Surprised on the upside each quarter for the last three quarters. People were expecting them to sign another deal before year-end, but that was pushed out so the stock has come off for the moment.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
COMMENT ET-T Evertz Technologies Ltd. Market Call (BNN TV) 2014-11-26 $17.540

Do a lot of work for ESPN in their studios, such as building out studios, refreshing them in terms of the cameras, etc. Thinks their deal with ESPN is going to start to revenue over the next number of quarters. Not very liquid as people at that moment don’t want to sell it. Management has done a very good job of executing. Looking for a lot of good earnings growth over the next 12-18 months.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
BUY GTE-T Gran Tierra Energy Inc. Market Call (BNN TV) 2014-11-26 $4.960

Doing well operationally. Even though the stock has come off, this oil/gas producer in Colombia generates its own cash flows and hasn’t had to go back to the market. It has no debt and has a lot of cash on the balance sheet. Thinks it is going to do very well on a rebound.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
DON'T BUY GXI-T Guestlogix Market Call (BNN TV) 2014-11-26 $1.040

Provide the hardware for airlines for people buying things on airplanes. Hasn’t done much in the last 2-3 years. His problem is that they never really delivered on what they said they would. They continue to sign more deals, but it hasn’t fallen to the bottom line.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS No View
DON'T BUY HUV-T HBP S&P500 VIX Short Term VIX ETF Market Call Tonight (BNN TV) 2014-11-26 $3.670

You have to be pretty nimble to make money on this kind of thing. You have to be right and you have to be right in a very short period of time. Even though you can be right over time, if you are not right over consecutive days, you still might not win on the strategy. If you are expecting volatility, you can sell Calls, buy Puts, put on a Futures Contract, or just Sell and lighten up instead.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
COMMENT LTS-T Lightstream Resources Market Call Tonight (BNN TV) 2014-11-26 $3.290

A very speculative name. At this level, it’s debt to cash flow at $75 oil is 5.2%. Investors start to get nervous at around 3%. He models its payout ratio at 152%.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
COMMENT MCB-T McCoy Corp. Market Call (BNN TV) 2014-11-26 $5.000

Had some good quarters and there were some analysts that got behind the story, but then they missed on a couple of quarters. Sell a lot of tooling equipment for offshore drillers. Pretty good value at these levels, but management has to show that they can start to grow earnings again. (He inherited a little when he took over this portfolio.)

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
BUY MG-T Magna Int'l. (A) Market Call Tonight (BNN TV) 2014-11-26 $120.190

Has a $150 US price target on it. Trading at 11.6X PE 2015 estimates, versus their peers at 13.4X. Sees 20% earning per share growth.

$150 US Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
DON'T BUY MSL-T Merus Labs International Market Call (BNN TV) 2014-11-26 $1.710

This one has had a few hiccups. Believe the money they have raised has been redeployed already. Signed a couple of deals and looked like they might sign a couple of others, but then the CEO resigned and the stock took a big whack. Time will tell in regards to what deals they will be able to sign. There are better players right now.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS No View
COMMENT NLN-T Neulion Market Call (BNN TV) 2014-11-26 $1.210

They help with watching different sports online and have a deal with Rogers (RCI.B-T). Had always thought the stock was fairly expensive.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS No View
BUY NPI-T Northland Power Inc Market Call Tonight (BNN TV) 2014-11-26 $16.930

Toronto Dominion (TD-T) or Northland Power (NPI-T) for dividends? Doesn’t know if he would be adding money to banks at this time. You probably want to buy this one down here. Slightly riskier than the banks but has come off quite a little bit with concerns about their European operations, which he thinks are going to be just fine.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
HOLD PEY-T Peyto Exploration & Develop. Market Call Tonight (BNN TV) 2014-11-26 $34.990

86% natural gas, which is at about $4. Their metrics are good and they are growing. Even though he likes it and thinks it is sustainable and a good play on LNG, if there are really weak energy prices, oil companies are not going to cut production so fast, but are going to switch production to natural gas, which could pressure natural gas more as well.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
HOLD PGF-T Pengrowth Energy Market Call Tonight (BNN TV) 2014-11-26 $4.310

Have really improved their metrics a lot and have done a good job executing their new Lindberg assets, which should be coming on in 2015. Management should get marks for doing everything right, but unfortunately oil has come down a lot. Payout ratio for 2015 is 140%. Debt to cash flow is too high at $75 oil. However, this is one that he might speculate on.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
COMMENT PRW-T Petrowest Corp Market Call (BNN TV) 2014-11-26 $0.860

If LNG does go through, they are going to be very active. There are some big contracts coming up in BC that they may be awarded in the next 3-6 months. He is comfortable with the story.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
TOP PICK PWF-T Power Financial Corp Market Call Tonight (BNN TV) 2014-11-26 $35.180

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.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Yes View
TOP PICK RCL-T Ridley Inc Market Call (BNN TV) 2014-11-26 $28.100

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.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
TOP PICK RE-T Rock Energy Inc. Market Call (BNN TV) 2014-11-26 $4.010

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.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
BUY SVC-T Sandvine Corp. Market Call (BNN TV) 2014-11-26 $2.870

Was a little disappointed in the last quarter’s earnings. There were a couple of contracts that they thought were going to be signed and do revenue in that quarter, but it didn’t come to fruition. However, right after that quarter they signed a deal for about $8 million, so the stock has moved up a little. Very cheap stock. Has about $1 a share in cash and is trading at around $2.80. Expects them to earn about $0.13-$0.14. If you exit the cash, it is only trading at around 12 or 13 times earnings. Strong balance sheet.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Yes View
DON'T BUY TD-T Toronto Dominion Market Call Tonight (BNN TV) 2014-11-26 $57.080

Toronto Dominion (TD-T) or Northland Power (NPI-T) for dividends? Doesn’t know if he would be adding money to the banks at this time as they are rather expensive.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Unknown View
COMMENT TOU-T Tourmaline Oil Corp Market Call (BNN TV) 2014-11-26 $39.100

This is one of the better names in energy. They have grown very rapidly, but do need to redeploy a lot of capital to continue their growth. Likes the management team.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS Unknown View
COMMENT TPH-T Temple Hotels Market Call (BNN TV) 2014-11-26 $4.080

Has not done very well over the last a while. Have a lot of exposure to the oil patches. It does not trade at a high multiple. Dividend yield of 13.5%, which he does not expect them to cut. The CEO has recently bought back a lot of stock personally. They are trying to buy more hotels outside of the Fort McMurray area, to diversify their overall brand. Story is pretty good; it’s just that they have had a slip up in the last quarter.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS No View
PAST TOP PICK TRZ.B-T Transat A.T. Inc (B) Market Call (BNN TV) 2014-11-26 $8.605

(A Top Pick Oct 24/13. Down 26.69%.) This should be benefiting from lower energy. About a year ago, the quarter was pretty good. West Jet and Air Canada were competing with them.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS No View
COMMENT VET-T Vermilion Energy Inc Market Call Tonight (BNN TV) 2014-11-26 $57.790

A great operator with outstanding production growth. At $92 oil, they have cash flow growth of about 15% net, next year over this year. But with oils down at current levels, he is modelling negative cash flows, shrinking by about 7%. Balance sheet is in good shape, but gets a little bit more pressured. Still very good, relative to peers. The dividend, even with the oil where it is right now, should be fine. If you think oil prices are going back up, then Hold it, otherwise consider taking profits. He still owns a little.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Yes View
PARTIAL BUY WCP-T Whitecap Resources Market Call Tonight (BNN TV) 2014-11-26 $13.020

This is one of the best, most sustainable dividend names. At $75 oil and $3 natural gas, it still has a positive cash flow year-over-year, but very marginal. Effective payout ratio is 114%. If you are not in this sector, at opportune times like this you might want to start picking away on a name like this.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Yes View
TOP PICK WSP-T WSP Global Inc. Market Call Tonight (BNN TV) 2014-11-26 $35.900

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.

Greg Newman CANADIAN LARGE & HEDGING CAUTIOUS Yes View
COMMENT XCS-T iShares S&P/TSX SmallCap ETF Market Call (BNN TV) 2014-11-26 $15.320

As a fund manager, he believes you should go with a fund rather than an ETF. Fund managers can be more nimble. If you own a small-cap index, they can change quite a bit in regards to what they are holding, so you can be caught holding sectors/stocks that you don’t want.

Peter Imhof NORTH AMERICAN - SMALL CAUTIOUS No View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-11-25 $0.020

Markets. Thinks the markets will go higher. Valuations are looking a little stretched, but there is no other game in town. Commodities don’t look attractive, bonds don’t look attractive, real estate has been good but he doesn’t see that going much higher. We are in a multi-decade bull market movement in equities. It has gone on for 5 or 6 years now, but what kills a bull market are recessions, and he doesn’t see this, at least not south of the border. The likelihood is that we are marching towards an eventual Fed tightening. Whether it is in the 1st half or the 2nd half of next year is hard to predict, but he tends to be in the 1st half. Once we see that happening, it will be clear that the rally in bonds is over, once and for all. Money that is sitting in bonds is eventually going to have to find a home, and he thinks that is going to be in equities. Equities in this low rate low inflation environment still offer good value, even at this level. You have to pick your best horse, and he thinks that is in US equities, simply because the US has the best fundamentals anywhere in the globe. Because growth is strong and it is rebounding, you want to be in cyclicals i.e. 1) industrials, 2) technology and 3) energy-later cycle, but keep in mind that energy will be quite weak in its financials. And then energy and materials much later.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-11-25 $0.020

Energy. OPEC is debating whether to reduce the quota, which is roughly 30 million barrels a day. It really comes down to Saudi Arabia and what they want to do. Saudi Arabia and Iran do not exactly see eye to eye. Nor does Iran and Venezuela, etc., etc. There are huge agendas which has a lot to do with 1) religion, and 2) who is facing sanctions. All of this is weighing on energy, so there is no consensus. However, the history of OPEC has been one of making a statement and then cheating amongst themselves. Thinks oil will remain under pressure, so for oil investors, that is bad news.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-11-25 $0.020

Markets.  For 18 months, his view has been that we are in a new secular bull market for stocks. Fullbacks are likely to be shallower and shorter lived than we have seen over the last many years. When you have a market that is both growing earnings and a slowly expanding multiple of earnings that investors are prepared to pay, it is a very durable market. For consumer led developed economies, very low inflation is a really great thing. This is because the consumer has a little more money to spend and balance sheets are getting better and there are some big sectors that are big winners from low energy prices and low inflation. This would include transportation and retail. In the US economy, 72% of the activity comes from the consumer. He came out of the move in October, well over 97% invested, so very few of his Stops got hit. The biggest reduction he had from a sector exposure, starting in July and into August, was largely leaving the energy sector. The money was moved more towards things that were more consumer concentric, healthcare centric, transportation centric or technology centric.

David Burrows NORTH AMERICAN - LARGE BULLISH _N/A View
COMMENT A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-11-25 $0.020

Markets. For 18 months, his view has been that we are in a new secular bull market for stocks. Fullbacks are likely to be shallower and shorter lived than we have seen over the last many years. When you have a market that is both growing earnings and a slowly expanding multiple of earnings that investors are prepared to pay, it is a very durable market. For consumer led developed economies, very low inflation is a really great thing. This is because the consumer has a little more money to spend and balance sheets are getting better and there are some big sectors that are big winners from low energy prices and low inflation. This would include transportation and retail. In the US economy, 72% of the activity comes from the consumer. He came out of the move in October, well over 97% invested, so very few of his Stops got hit. The biggest reduction he had from a sector exposure, starting in July and into August, was largely leaving the energy sector. The money was moved more towards things that were more consumer concentric, healthcare centric, transportation centric or technology centric.

David Burrows NORTH AMERICAN - LARGE BULLISH _N/A View
COMMENT A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-11-25 $0.020

Energy. There is no indication that the weak pricing is about to abate. Has felt for the last 12-18 months, this is a sector where the tide is going out. Commodity prices are dependent on the last dollar of demand, and if production is growing more quickly than supply, then you have a problem. We are going through the greatest oil boom in the history of the US.

David Burrows NORTH AMERICAN - LARGE BULLISH Unknown View
TOP PICK AAPL-Q Apple Market Call (BNN TV) 2014-11-25 $117.600

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%.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Yes View
COMMENT AMT-N American Tower Market Call Tonight (BNN TV) 2014-11-25 $104.170

This has been a real success. They own cell towers globally, with about 67% in the US. A couple of years ago they converted into a REIT. This is like an apartment building where you just keep adding floors to it. As the service providers continue to add equipment as data use goes up, they just get more and more revenue. A great company. Thinks we will continue to see more dividend growth. They have a positive runway going forward. Earnings this year should be up 22% and 15%-16% after that. They plan to spend less money over the next couple of years, so will be able to grow their payout substantially and more rapidly.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
SPECULATIVE BUY AYA-T Amaya Gaming Group Inc. Market Call Tonight (BNN TV) 2014-11-25 $38.230

This is a company that people are buying for the future. Have about 200 different games they’re selling online and are trying to work their way into the online gaming business through Poker Stars. Potentially an enormous market if they can capture 10% of it. This is a call on the likelihood of online gaming being legalized in various states. There are a lot of risks in that.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
BUY BAC-N Bank of America Market Call Tonight (BNN TV) 2014-11-25 $17.100

This has gone through the mill in the last few years. The US banks did a great job in recapitalizing their balance sheets. Has worked its way through all its lawsuits and the US economy is steadily getting better. This bank is getting slowly and steadily better along with it. There is, and continues to be, outsized opportunity for dividend growth.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
STRONG BUY BAM.A-T Brookfield Asset Management (A) Market Call Tonight (BNN TV) 2014-11-25 $56.380

A highly predictable company with wonderful underlying assets. Have lots of different types of assets that they manage. It is fee revenue that they generate. Have a great history of continuing to build assets. About 40% of their business is in the US, 20% in Canada and 20% in Australia. There is great visibility in the fee revenue they generate. Management has a great record of allocating capital. This could be a core position in almost any portfolio.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
WATCH BBD.B-T Bombardier Inc (B) Market Call (BNN TV) 2014-11-25 $4.400

Longer term, more than a year, it has a very attractive future. Fundamentals are quite good and the stock is inexpensive on a multiple basis. The issue short term, less than a year, is essentially a weaker future. Spending a lot of money, so are incurring a lot of capital expenditure to develop the C series. The ramp to development of the C series order book is not all that clear. There have been a lot of issues with the C series. It will probably be a year before he is ready to commit money.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES No View
HOLD BNP-T Bonavista Energy Corp Market Call (BNN TV) 2014-11-25 $10.760

Thinks this is okay. Doesn’t see a tremendous amount of catalysts for it. He is struggling to find names that will work for investors in the relatively near term, 5-6 months, given his bearish outlook for oil and gas. Fundamentally it is fine and doesn’t see any major problems.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
DON'T BUY BTE-T Baytex Energy Corp Market Call (BNN TV) 2014-11-25 $30.610

Likes that this is heavy oil. It has been a great stock looking out over the past 10 years or so, but it has been very disappointing. Sold most of his holdings, because it just wasn’t working. The issue for all oil companies is oil and oil prices. Oil is $76 and he expects we will touch $60 before we touch $80 again. The term structure and the futures are telling you that, and also he doesn’t see strong global growth. (Absent the US and to a lesser extent Canada.) Doesn’t see the dividend being an issue at present.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Yes View
PAST TOP PICK C-N CitiGroup Market Call (BNN TV) 2014-11-25 $54.330

(A Top Pick Nov 7/13. Up to 12.43%.) Cheap. Trading at an 8.5X forward earnings multiple, versus the historical 55 year multiple of 15.5 times. Thinks they’re going to get their capital plan finally approved in March, which will allow for quite a bit of that cash flow to come back in the form of a dividend.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Yes View
PAST TOP PICK CIX-T CI Financial Corp Market Call Tonight (BNN TV) 2014-11-25 $34.350

(A Top Pick Nov 6/13. Up 3.76%.) He really likes the asset management business. If we are in a secular bull market for equities, the companies that have done a good job managing money are likely to see more dollars come in the door. This company has done a great job. Still likes.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
SELL CLL-T Connacher Oil and Gas Market Call (BNN TV) 2014-11-25 $0.075

The principal problem is the debt and they are poorly capitalized. Also, price of oil has come under considerable pressure. They are developing long-lived assets, which mean there is really not much probability of bringing forward their cash flows into the here and now.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
BUY CSCO-Q Cisco Market Call Tonight (BNN TV) 2014-11-25 $27.280

Corporations are full of cash and don’t need to build capacity, but are looking for productivity. One place where they are spending is technology. Technology is expanding very steadily and is one of the best performing groups in the market. This company is not a high growth company like it once was. Have a very strong balance sheet with very steady cash flow growth, buying back shares and increasing their dividend. Expects technology will have a pretty strong market heading into year-end. This would not be his #1 choice. He would prefer Microsoft (MSFT-Q) or Intel (INTC-Q), but you won’t get hurt here. (See Top Picks.)

David Burrows NORTH AMERICAN - LARGE BULLISH Unknown View
BUY CTC.A-T Canadian Tire Corporation Ltd. (A) Market Call Tonight (BNN TV) 2014-11-25 $125.400

Loblaws (L-T) or Canadian Tire (CTC.A-T)? He likes retail. This is probably one of his biggest sector weights. He has more US exposure than Canadian. Thinks the best theme you can focus on is home improvement and this company fits in there. This would be the one that he would choose in a very short run.

David Burrows NORTH AMERICAN - LARGE BULLISH Unknown View
COMMENT CVS-N CVS Health Market Call Tonight (BNN TV) 2014-11-25 $90.290

Walgreen (WAG-N) or CVS Health (CVS-N)? If he had to pick one, it would be this one. It has been a very steady performer. Has nicely growing earnings, about 15% this year and 15% next year. Very highly focused on the consumer. Return on equity has gone from about 11% to about 15% over the last 2 years and is likely to continue to perform quite well.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
PAST TOP PICK DIS-N Walt Disney Market Call Tonight (BNN TV) 2014-11-25 $91.650

(A Top Pick Nov 6/13. Up 34.47%.) It is his view that the Cdn$ will continue to back off from the US$, so he has looked at a lot of US ideas. When the consumer has a little more money, the 1st thing they spend it on is travel and leisure, and this company plays into that theme. Their franchises in the movie business are exceedingly good.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
BUY DOW-N Dow Chemical Market Call (BNN TV) 2014-11-25 $51.390

This is looking a lot better. There is an activist involved, which is one that tends to get the results. The chemical industry in general is one that is ripe for activism. A very cyclical industry. They tend to do things just at the wrong time. In general there is a renaissance in the chemical industry, because of low gas prices and a resurgence of the US oil/gas industry. This is probably a good time to be in this.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES No View
COMMENT DOW-N Dow Chemical Market Call Tonight (BNN TV) 2014-11-25 $51.390

One of the big input costs for chemicals is natural gas, and prices have been very weak for natural gas. This company benefits when the economy is a little stronger. It concerns him the way chemical stocks sold off in October. He wouldn’t want to see this dip below $50, so if you own, use that as a Stop. He would like to see it make a new high by trading through $55. Feels there may be better names. 3.2% dividend yield.

David Burrows NORTH AMERICAN - LARGE BULLISH Unknown View
PAST TOP PICK ECA-T Encana Corp Market Call (BNN TV) 2014-11-25 $20.450

(A Top Pick Nov 7/13. Up 8.42%.) Thinks the company has done a really good job. A much improved company. Have phenomenal assets. This is the name that should be on every investor’s short list of energy names.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Yes View
TOP PICK EFN-T Element Financial Market Call (BNN TV) 2014-11-25 $14.760

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.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Yes View
WEAK BUY ESI-T Ensign Resource Service Group Market Call (BNN TV) 2014-11-25 $12.280

Overall, this name is fine, but is very sceptical about land drilling in Canada given what has happened. We are still infrastructurally charged. Gas lines certainly seem to be something that is happening, but oil pipelines are more problematic. Drilling in Canada has definitely slowed over the last 2-3 years. If you want to “trade” the name, seeing that there is some seasonality in gas, that would be fine, but he wouldn’t make it as a long-term hold.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
COMMENT FTS-T Fortis Inc. Market Call (BNN TV) 2014-11-25 $39.180

Nothing wrong with this one, and has been a really good name for investors, because it has been defensive. However, we are in an era where you are going to see growth in the US, and to a lesser degree Canada, and the economy is coming out of 2008-2009 financial crisis in pretty good shape. As a result, he doesn’t think you want to be in something that is very defensive. Utilities are the most defensive, because they are monopolies, regulated and have limited growth. A 1% move in Canada could reduce the price of the group, between 10 and 15%. He would be looking to take money from this.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
DON'T BUY HBM-T Hudbay Minerals Inc. Market Call (BNN TV) 2014-11-25 $9.570

Sees this being flat for 1-1.5 years. Doesn’t see any growth. One of your more defensive names because of its cash position, but it is a muddled mixture of zinc, a little bit of copper and gold now. Well run company and a good company, but truthfully the sector that looks the best is copper. He would suggest you buy Lundin (LUN-T), followed by Teck resources (TCK.B-T) and forget about this one.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
TOP PICK INTC-Q Intel Market Call Tonight (BNN TV) 2014-11-25 $36.320

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%.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
PAST TOP PICK IPL-T Inter Pipeline Market Call Tonight (BNN TV) 2014-11-25 $34.760

(A Top Pick Nov 6/13. Up 38.74%.) Thinks that the long-term story for energy infrastructure is intact. You are probably going to get 8%-10% dividend growth for the next 5 years. For this company, it is a necessary piece of infrastructure for the oil sands in Western Canada. It would take a sustained period of very low energy prices for them to curtail their investment. They have very long contracts.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
BUY KEY-T Keyera Corp Market Call Tonight (BNN TV) 2014-11-25 $93.120

Stocks pull back naturally, but what you want to avoid is them reversing direction. This one, over the last 4 years, had a very steady series of higher highs and higher lows. Has pulled back recently but the chart did not reverse lower. A great company in its space. There will be great dividend growth going forward.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
COMMENT KIM-N Kimco Realty Corp. Market Call Tonight (BNN TV) 2014-11-25 $25.090

One of the few infrastructure companies in the US that is not a Master Limited Partnership, which has negative tax implications for Canadian investors. This is a way you can be invested in energy infrastructure. Behaving extremely well and is within a whisper of its all-time high. Reduced his exposure by about a 3rd because people psychologically could be less favourable because it is attached to energy. Has a little over 4% yield.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
COMMENT L-T Loblaw Companies Ltd Market Call Tonight (BNN TV) 2014-11-25 $59.850

Loblaws (L-T) or Canadian Tire (CTC.A-T)? He likes retail. This is probably one of his biggest sector weights. He has more US exposure than Canadian. Thinks the best theme you can focus on is home improvement and Canadian Tire fits in there and would be the one that he would choose in a very short run.

David Burrows NORTH AMERICAN - LARGE BULLISH Unknown View
TOP PICK LMT-N Lockheed Martin Market Call Tonight (BNN TV) 2014-11-25 $188.670

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%.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
DON'T BUY LSG-T Lake Shore Gold Market Call (BNN TV) 2014-11-25 $1.000

A disaster waiting to happen. He sees this as a producer that is very challenged going forward. His overall view on gold is very bearish. Most gold companies start to run into trouble, certainly below $1200 an ounce, but around $1100, $1000 and $1050, you have real issues with virtually everyone. It has debt and really no growth, and gold is going the wrong way.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
DON'T BUY LYB-N LyondellBasell Industries Market Call Tonight (BNN TV) 2014-11-25 $90.650

Chemical companies benefit from low natural gas prices. It makes North American produces very competitive. However, the headwind right now is a very strong US$, which is tough on commodity prices. There is concern that pricing will not hold up for some of these chemical companies. This one is a great cash flow generator. However, it is very close to breaking down and he would like to see it firm up. Also, in the most recent rally, it has rallied less than the market.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
DON'T BUY NBD-T Norbord Inc. Market Call Tonight (BNN TV) 2014-11-25 $24.440

Any time you are getting a 10% dividend, you have to ask why. This company is not earning the dividend. This stock is not behaving at all. Forest stocks in general are behaving pretty well, so he would prefer to focus on lumber.

David Burrows NORTH AMERICAN - LARGE BULLISH Unknown View
TOP PICK NEM-N Newmont Mining (US) Market Call (BNN TV) 2014-11-25 $19.710

*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%.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Yes View
DON'T BUY NKO-T Niko Resources Market Call (BNN TV) 2014-11-25 $0.275

If you want to be on one side or the other, then you should Short it and hope to buy it back for less. Doesn’t see any catalyst for growth. This company has had a lot of problems.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES No View
COMMENT NPI-T Northland Power Inc Market Call (BNN TV) 2014-11-25 $17.070

Great company, but he thinks we are going into a rising interest rate environment. This will get slaughtered along with some of the other yield names. Thinks you are looking at 10%-15% downside. You’re okay for now, but 6 months to year from now, he would be exiting this name.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
HOLD POU-T Paramount Resources Market Call (BNN TV) 2014-11-25 $43.500

This is the name that just suffers from any obvious catalyst. Thinks it will go sideways. A decent name.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
DON'T BUY POU-T Paramount Resources Market Call Tonight (BNN TV) 2014-11-25 $43.500

Stock started to fall well before the price of oil did. Energy is a tough neighbourhood to be in.  

David Burrows NORTH AMERICAN - LARGE BULLISH Unknown View
COMMENT PPL-T Pembina Pipeline Corp Market Call Tonight (BNN TV) 2014-11-25 $41.760

This has recently been one of the weaker performers in the group. Because of this, he has reduced his position substantially. In the long run, this is a great industry, because they are long life assets, with long contracts and very little commodity exposure. In the short term they can be impacted psychologically. If you own, consider trimming this or selling it.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
DON'T BUY SGY-T Surge Energy Inc Market Call (BNN TV) 2014-11-25 $6.080

If you own, he would Sell and take your profit, or at least not Buy any more. This is a good story. They have grown through acquisition and the acquisition story has basically dried up out west, so there is not the same degree of options for management to buy. They have 24% production declines through their producing properties, which mean they have to figure out a way to grow production by 24% to remain flat on an annual basis. He doesn’t see how they could make this happen.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
COMMENT SU-T Suncor Energy Inc Market Call (BNN TV) 2014-11-25 $39.630

3 to 5 year hold? He would see lots of growth over that length of time and it is a good idea to invest with that time horizon in mind. This company has long reserves and a lot of optionality in terms of its property as well as a lot of growth. With this long-term horizon, you can’t go wrong.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
COMMENT TBE-T Twin Butte Energy Market Call (BNN TV) 2014-11-25 $1.430

This is a “steady Eddie” player. Given that, he thinks it won’t do anything. Dividend is safe and if you are buying it for the dividend, you could buy some. If it’s for capital gain, he doesn’t think you are going to get any.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
PAST TOP PICK TD-T Toronto Dominion Market Call (BNN TV) 2014-11-25 $56.790

(A Top Pick Nov 7/13. Up 22.96%.) They have actually lagged in the US, in terms of loan growth. They’re not quite getting the follow-through that he would have hoped. It represents the best exposure to the US of any Canadian bank.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Yes View
BUY TDG-T Trinidad Drilling Ltd Market Call (BNN TV) 2014-11-25 $6.370

Of the drilling companies, he feels this is one of the better ones. Has a newer fleet and has some geographic diversity. Overall he thinks it is a fine name, but drilling is considerably lower. This is a seasonal trade, so buy it and sell it a little bit later.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
DON'T BUY TDG-T Trinidad Drilling Ltd Market Call Tonight (BNN TV) 2014-11-25 $6.370

Just announced they are going to buy 10% of their float. This is a speculation, and trying to pick bottoms is very difficult. Drillers and equipment companies are about the most cyclical in the energy value chain. There are lots of companies that have the financial data going in their favour, because they are acting as they should in a bull market. You are probably better off focusing in those groups.

David Burrows NORTH AMERICAN - LARGE BULLISH Unknown View
DON'T BUY TOU-T Tourmaline Oil Corp Market Call Tonight (BNN TV) 2014-11-25 $40.930

This company has had tremendous growth and their cash flow has grown very nicely. It’s a great company if energy is in favour, but he doesn’t see energy making a turn anytime soon. He would avoid this group for now.

David Burrows NORTH AMERICAN - LARGE BULLISH Unknown View
COMMENT WAG-N Walgreen Co Market Call Tonight (BNN TV) 2014-11-25 $67.810

Walgreen (WAG-N) or CVS Health (CVS-N)? If he had to pick one, it would be CVS.

David Burrows NORTH AMERICAN - LARGE BULLISH Unknown View
DON'T BUY WFM-Q Whole Foods Market Inc. Market Call (BNN TV) 2014-11-25 $48.180

Basically a Hold at best, but probably a Sell. It has had a series of disappointing guidance. There was a lot of worry about margins declining or continuing to decline because of competitive pressures. It was a great story, but right now the bloom is off the rose and he would be avoiding it.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES No View
COMMENT WJA-T Westjet Airlines Market Call (BNN TV) 2014-11-25 $30.000

Chairman has trimmed his personal stake by over $40 million, but still owns over 1% of the company. If this was because of tax planning, which it often is, that is a fair enough reason. If you see more than one insider, particularly the CFO, that would be a worry. This doesn’t change his opinion. In the Canadian Airlines, you are seeing an expansion. This one has no union and strong growth ahead of it. Low cost base because of its model. Thinks this continues to grow.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Yes View
TOP PICK WMT-N Wal-Mart Stores Inc. Market Call Tonight (BNN TV) 2014-11-25 $84.950

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%.

David Burrows NORTH AMERICAN - LARGE BULLISH Yes View
HOLD WZR-X WesternZagros Resources Ltd. Market Call (BNN TV) 2014-11-25 $0.610

Still has a positive view on this company, but realistically at this point, given all that is happening and its location, it is going to be a slow grind higher. Have stabilized some of the cash and immediate needs, but he doesn’t see this as a home run but at the same time, he doesn’t think you have to sell it as the worst is over.

John Stephenson NORTH AMERICAN - LARGE & RESOURCE BULL on US EQUITIES Unknown View
N/A A Commentary A Comment -- General Comments From an Expert Berman's Call 2014-11-24 $0.020

Markets.  Oil may be going into the $60s and Brent may be going into the $70s.  What we see in the extremes is that more and more people pile onto the trend.  In this sector you get more volatility.  The energy sector is currently his biggest waiting in his sleep at night portfolio.  He has primarily the Canadian sector because it has been hit harder than the US.  ZEO-T is the ETF he uses.  The biggest in Canada don’t dominate this ETF.  It is one of his bigger positions that he accumulated over the last couple of months.  Small cap markets are getting stretched here.  Small caps are lagging again.  In a robust market, small caps should be leading.  This is telling us the underlying markets are actually weak. 

Larry Berman CFA, CMT, CTA TECHNICAL ANALYSIS & ETF's UNKNOWN _N/A View
BUY A Commentary A Comment -- General Comments From an Expert Berman's Call 2014-11-24 $0.020

Caller asked for a recommendation for an ETF for 5 years for a RESP account.  There is no growth in fixed income and probably only 2 or 3 percent.  With a bond fund not having a maturity date, there would be interest rate risk.  He recommended a fund he manages for BMO, the Global Tactical Dividend Fund, the ‘D’ class.

Larry Berman CFA, CMT, CTA TECHNICAL ANALYSIS & ETF's UNKNOWN Yes View
N/A A Commentary A Comment -- General Comments From an Expert Berman's Call 2014-11-24 $0.020

Educational Segment.  Interest Rates.  He and his guest felt interest rates will not be raised next year.  The world economy is slowing even though the US is growing slowly.  Only 37% of Americans are employed, down from 42 in 2007.  There isn’t enough demand to create inflation.  They won’t want to raise interest rates at a time when they will affect the 2016 election. 

Larry Berman CFA, CMT, CTA TECHNICAL ANALYSIS & ETF's UNKNOWN _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call (BNN TV) 2014-11-24 $0.020

Markets.  The market is in over bought territory.  Either the market will move sideways, or you get a decline.  It will be 5 or 10% at the most.  He thinks Russia could spook the markets regarding the Ukraine.  Thinks we may be nearing the bottom in oil prices.  Sees continued improvement in corporate profits.  Sees a reenergized US consumer.  The outlook is improving dramatically.  There is room for a PE adjustment to the upside.  US inflation should ramp up next year.  Wage rates will be up as unemployment rates come down.

Peter Brieger NORTH AMERICAN - LARGE CAUTIOUS _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-11-24 $0.020

Markets.  Stocks are meandering higher. There is a perception that they are zooming higher because the S&P hit a record level again. That can happen day after day and still be a meandering market. Multiples right now are at about historical levels. 15 years ago we were trading at about 16X expected 2015 multiples, and the long-term average is just a fraction ahead of that at 16.2X. There is not a lot of volatility, so you don’t see big swings in the market. Complacency is always a bit of a worry. Through the October correction, there was a feeling that this might be a bigger correction. The true effect of a correction is to feel some pain. When you have V shaped bottoms, you don’t feel a lot of pain. It is essential that you buy things at the right price and don’t chase and buy high valuations. You never see risk and damage until it is too late. Overall he is constructive on the market and this meandering can continue for awhile.

Gordon Reid US EQUITIES OPTIMISTIC _N/A View
N/A A Commentary A Comment -- General Comments From an Expert Market Call Tonight (BNN TV) 2014-11-24 $0.020

Tax rules on non-Canadian assets.  For anyone who has over $100,000 cost base in non-Canadian assets, outside of registered plans, you must file a T1135. If you don’t file this form, the fines are up to $25 per day, to a maximum of $2500. (Gordon has an article on his website www.goodreid.com. You sign up for e-articles.)

Gordon Reid US EQUITIES OPTIMISTIC _N/A View
HOLD AAPL-Q Apple Market Call Tonight (BNN TV) 2014-11-24 $118.625

Not as good a value today as it was 6 months or a year ago. Got to a point where it was priced for extinction. There was no premium built into the stock for innovation. There was a period of time when the capital allocation policy was really not a good one. A lot of that has changed. Also, they are now in China. The latest analysis says that they could do over 70 million units of the iPhone 6, a high-margin product. That will put their gross margin into the 40% range. At this price, it is trading at about 16X earnings, and if you net out the cash you are down into 13X. Still not expensive. Have a policy of capital allocation where they return to the shareholders the equivalent of about 8% of their market cap per year, both in dividends and buybacks. Feels the market is starting to recognize that this company can still innovate.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
HOLD AGU-T Agrium Market Call (BNN TV) 2014-11-24 $112.420

You are looking at a 5% total return.  It does not interest him.  It is getting tired.  He is considering selling it.  If you are a long term holder, then continue to hold it.  The world has to get fed.  He is considering moving to Monsanto (MON-N).

Peter Brieger NORTH AMERICAN - LARGE CAUTIOUS Unknown View
TOP PICK AIG-N American International Group Market Call Tonight (BNN TV) 2014-11-24 $55.100

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%.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
COMMENT BAC-N Bank of America Market Call Tonight (BNN TV) 2014-11-24 $17.180

Every company, sector and industry has valuation metrics that they respond best to. The banks, because they tend to be quite cyclical, don’t respond well to earnings. The thing to look for in banks is Book Value, or more specifically tangible BV. Because of what happened in 2008 with the regulation that came out and having to raise an incredible amount of capital to satisfy the regulators, the banks have struggled a little.  Stock price has fallen to where they are trading at a discount to Book Value. This one is probably around tangible book. His favourite is Citigroup (C-N), which he feels has a good runway ahead of it.

Gordon Reid US EQUITIES OPTIMISTIC Unknown View
TOP PICK BECN-Q Beacon Roofing Supply Market Call Tonight (BNN TV) 2014-11-24 $29.100

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.

Gordon Reid US EQUITIES OPTIMISTIC Yes View
TOP PICK BMO-T Bank of Montreal Market Call (BNN TV) 2014-11-24 $83.200

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

Peter Brieger NORTH AMERICAN - LARGE CAUTIOUS Yes View
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