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Christine Poole is CEO and managing director, GlobeInvest Capital Management. Her focus is North American large caps.

Top Picks:

Whirlpool (WHR.N)

Recent purchase price $172.50 range in July 2016

Whirlpool is the global leading major appliance manufacturer, with manufacturing plants in 14 countries, and it markets products in nearly every country. Its major brands include KitchenAid, Jenn-Air, Maytag, Whirlpool, Hotpoint and Amana. North America accounts for 51 per cent of sales, Europe/Middle East/Asia 26 per cent, Latin America 16 per cent and Asia 7 per cent. Recent acquisitions have expanded Whirlpool's presence and competitiveness in Europe and China. International markets, specifically in emerging markets, are characterized by low levels of appliance penetration. In contrast with a more developed economy like the U.S. (79-per-cent penetration), emerging markets in Latin America (42 per cent), China (36 per cent) and India (16 per cent) represent potential for higher levels of appliance penetration over the long-term. Whirlpool provides a dividend yield of 2.3 per cent.

Alphabet (GOOGL.O)

Recent purchase price $716 range in July 2016

Alphabet is a global technology company, providing the world's leading search engine, Google, and dominates in both global desktop and mobile search engine queries. Google benefits from the secular shift to online/internet advertising, given its 70-per-cent-plus share in global search ad revenue. With internet advertising accounting for about 35 per cent of global advertising budgets, significant secular growth potential for this media channel remains over the foreseeable future.

Loblaw (L.TO)

Recent purchase price $69.70 level in July 2016

Loblaw is Canada's largest grocery retailer offering consumers multiple formats. Through Shoppers Drug Mart, it is also the leading national drugstore operator. Operational efficiencies from its store renovation program and IT/supply chain investments, as well as synergies arising from the Shoppers acquisition, will drive margin improvement and cash flow growth. Having met its debt reduction targets from the Shoppers acquisition, the company will deploy free cash flow for share repurchases and dividend increases. Loblaw provides a current yield of 1.5 per cent.

Past Picks: July 14, 2015

CGI Group (GIB.A.TO)

Then: $51.45 Now: $57.26 +11.29% Total return: +11.29%

Chartwell Retirement Residences (CSH_U.TO)

Then: $11.57 Now: $15.69 +35.61% Total return: +41.47%

Wells Fargo (WFC.N)

Then: $57.25 Now: $48.35 -15.55% Total return: -13.07%

Total Return Average: +13.43%

Market outlook:

The knee-jerk negative reaction to the unexpected outcome of the London referendum was exacerbated by the complacency going into the vote. While North American equity markets have recovered from the sharp decline, geopolitical events will continue to hang over markets. At this juncture, the economic impact of Brexit on the U.K., the rest of the Eurozone and global economy is difficult to quantify. Nonetheless, the bias for looser monetary policy and lower interest rates for longer periods prevails around the world.

The strong U.S. June employment report allayed concerns following May's anemic payroll number and highlights the resilience of the U.S. economy. Manufacturing and non-manufacturing activities are expanding, with both the ISM Manufacturing Index and the ISM Non-Manufacturing Index surpassing expectations in June at 53.2 and 56.5, respectively. Uneven global economic growth and uncertainty surrounding political events will keep a dovish tone to FOMC policy. Corporate profit growth is expected to turn positive in the back half of the year and will be a catalyst for higher stock prices.

Elevated volatility and heightened sensitivity to news/events are expected to persist. Stock market pullbacks are opportunities to selectively invest in financially sound companies.

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