Bruce Campbell is president of Campbell & Lee Investment Management. His focus is on Canadian large caps.
Bought Royal Bank on Friday at $50.22.
Royal Bank reported a quarter that was a little light on core earnings and offset by good capital market earnings and the market penalized them. We think it will rebound as it likely raises its dividends in the next two quarters.
Bought Rogers last week in the $36 range.
Rogers has a solid dividend combined with future growth. It has declined recently and is now cheaper than BCE or Telus.
Bought Goldcorp in the past month at $35.77.
Goldcorp has great growth coming over the next several years with one new mine per year coming on stream, trades as if it will have problems bringing them on, but we believe that will not be the case.
Past Picks: June 7, 2011
Total return (including dividends): +2.05%
Total return: -29.66%
Total return: -12.25%
Total Return Average: -13.29%
On the surface, it looks like the start to 2012 resembles that of 2011. In both cases, low interest rates and a rebounding U.S. economy allowed for a strong start. We believe that the balance of the year will not track 2011, due primarily to the fact that European leaders have learned the important lessons from last year's Greek debacle. It will still be a bumpy ride with headline risk for awhile yet, but dips should now be bought for investors with a strong constitution and a healthy risk appetite.
Compiled by Rob Moysey/BNN Market Call Tonight