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GMP's Stephen Boland named top stock picker on non-bank financial stocks

GMP’s Stephen Boland was named top stock picker covering non-bank financial stocks

Peter Power/Peter Power/The Globe and Mail

For Stephen Boland, a "buy" rating on DundeeWealth Inc. was one of his best calls in 2009.

The stock of the wealth management firm, which also sells Dynamic mutual funds, rocketed 135 per cent by year end after rebounding sharply from a market bottom in March.

"There were some great opportunities if you dug beneath the panic," said the GMP Securities analyst, who was chosen as the top stock picker covering non-bank financial stocks in this year's StarMine analyst awards. "I was saying that the asset managers were a great play coming off the bottom."

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He was also upbeat on alternative lenders such as Home Capital Corp., whose shares shot up 111 per cent after being crushed in the market downturn because it had been lumped in with the credit woes of U.S. subprime lenders. But those problems never materialized, he said.

Mr. Boland has turned a little more wary this year. "The market has definitely slowed in 2010," he said. "I am a little more cautious, but still positive. The fundamentals of these companies are very good and the balance sheets have improved."

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