Benj Gallander is president of Contra The Heard Investment Letter. His focus is on contrarian investing.
Telecoms in Europe have been thrashed. Orange seems to be one of the strongest. It also pays a lovely dividend, which management has stated they wish to keep in place through 2014.
Agjunction has been undergoing an enormous turnaround under the new management. Costs have been taken out of the business. Headcount has been dramatically reduced. The company has refocused solely on agriculture, an essential sector.
When tax loss season is on, there is normally the opportunity to purchase some value positions at reduced rates. This time is approaching.
Past Picks: July 16, 2012
Total return: +28.71 per cent
Bank of America
Total return: +85.22 per cent
Alpha Pro Tech
Total return: +10.78 per cent
Total return average: +41.57 per cent
The U.S. economy and markets are having a delightful run and that is attracting more money. This makes it difficult to bet against a further uptrend. That also helps the Canadian economy. However, in reality, many of the problems that got the global system into trouble remain and there does not seem to be the political will to attack the difficulties.