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Bruce Campbell is president of Campbell & Lee Investment Management. His focus is on Canadian large cap stocks.
Bruce Campbell is president of Campbell & Lee Investment Management. His focus is on Canadian large cap stocks.

BNN Market Call

3 top stock picks from portfolio manager Bruce Campbell Add to ...

Bruce Campbell is president of Campbell & Lee Investment Management. His focus is on Canadian large cap stocks.

Top picks:

Enbridge

Enbridge is a well-managed pipeline company, which has demonstrated earnings growth that should be 10 per cent, plus a good and a rising dividend. Stock off its highs so a good entry point now

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Crescent Point Energy

This pick has an excellent combination of yield and growth. Crescent Point  is an oily producer, with lots of drilling locations and a 6 per cent plus yield. Rising cash flow with further success will move the stock further upwards.

Regal Lifestyle Communities

Trading started on the morning of Oct. 16, bought the IPO at $10. A new public entrant into the senior home/lifestyle communities sector which will commence with close to a 7 per cent yield and an excellent base of Ontario properties and they should be able to acquire further homes in order to fulfill their growth mandate.

Past picks: Oct. 26, 2011

Calfrac Well Services

Then: $29.75
Now: $24.89
Total return: -14.28 per cent

Allied-Nevada Gold

Then: $37.77
Now: $37.78
Total return: +0.01 per cent

Cineplex

Then: $25.99
Now: $28.87
Total return: +16.43 per cent

Total return average: +0.72 per cent

Market outlook

Although we think a consolidation phase is likely before further advances, we remain positively disposed to equities. We further believe that positive economic data should start to materialize in the November timeframe. In the meantime, earnings downgrades are slowing and excess liquidity is supportive. We observe that long-term positioning is still cautious relative to sentiment and overall risk appetite is still below its norm which is also a positive. Lastly, synchronized quantitative easing by year-end should drive up inflation expectations to the benefit of equity multiples.

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