Bruce Campbell is president of Campbell & Lee Investment Management. His focus is on Canadian large cap stocks.
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
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
Total return: -14.28 per cent
Total return: +0.01 per cent
Total return: +16.43 per cent
Total return average: +0.72 per cent
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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