Michael Giordano is a portfolio manager at Stone Asset Management. His focus is on resource stocks.
Top picks:
Crescent Point Energy Corp.
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First Quantum Minerals Ltd.
Vermillion Energy Inc.
Past picks: May 17, 2012
Suncor Energy Inc.
Then: $27.54
Now: $32.24
Total return: +19.07 per cent
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Teck Resources Ltd.
Then: $30.05
Now: $28.20
Total return: –3.77 per cent
Inter Pipeline Fund
Then: $20.05
Now: $24.17
Total return: +27.03 per cent
Total return average: +14.11 per cent
Market outlook:
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The U.S. and global stock markets continue to hit new highs but are vulnerable to a short-term pullback. Excellent profit growth plus economic stimulus measures are fuelling the fire. The U.S. economic recovery is continuing (as housing and auto sales continue to be strong and jobs slowly starting to be created, consumer confidence is boosted) and a soft landing in China is adding to global growth. The commodity sector is under pressure as it continues to face mixed data as the market struggles with slowing Chinese growth.