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3 top stock picks from Mackenzie Financial’s Ian Ainsworth

Ian Ainsworth.

Fred Lum/The Globe and Mail

Ian Ainsworth is senior vice-president, investments, at Mackenzie Financial Corp. His focus is on growth and technology stocks.

Top picks:

Goldcorp Inc.
Goldcorp has a leading growth profile among senior gold producers. It has a strong balance sheet, relatively attractive valuation, and is making changes to improve returns.

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Hang Lung Properties Ltd.
This Hong-Kong based shopping centre developer and operator has rapidly expanding mainland China operations and a strong balance sheet.

Google Inc.
Google is the dominant Internet search service with expanding franchises in mobile and video. Its 30-per-cent earnings growth makes a price-earnings ratio of 17 look inexpensive.

Past picks: Feb. 1, 2012

F5 Networks Inc.
Then: $122.42
Now: $105.64
Total return: –13.71 per cent

Shire PLC

Then: $99.64
Now: $101.35
Total return: +2.18 per cent

Potash Co.
Then: $47.35
Now: $42.36
Total return: –9.07 per cent

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Total return average: –6.87 per cent

Market outlook:

We like the equity market, especially outside Canada. Sovereign debt and other macro issues are easing, growth seems to be building momentum globally, money is beginning to flow out of bonds, and equities have some good returns to talk about. Canada will lag as the dollar is already near its highs, the commodity cycle has had its decade and we are seeing investment shift to health care, technology, capital spending and consumption.

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