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Gordon Reid is president and CEO of Goodreid Investment Counsel. His focus is on U.S. equities.

Top Picks:

Citigroup Inc. (C NYSE)

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Citigroup is continuing its restructuring program with an eye to being more focused and in a position to benefit from a growing domestic opportunity. New management is being viewed favourably, and with growing profits, fewer government charges and the anticipation of a larger dividend and stock buybacks in 2015, Goodreid believes this bank's stock offers significant upside.

Priceline.com (PCLN NASDAQ)

The double whammy of a general market correction and the Ebola scare led this issue to correct 25 per cent from its recent highs. Goodreid believes this is a strong buying opportunity given the continuing strong growth in fundamentals coupled with a very reasonable price-to-earnings multiple of 18 times expected 2015 results.

Tenneco Inc. (TEN NYSE)

Tenneco is a manufacturer of exhaust and ride control systems. Trading at just 10 times our estimate for next year's earnings this company has solid growth in front of it as emission standards are tightened, the world's automotive market recovers, and the company's internal operations become more efficient.

Past Picks: Nov. 13, 2013 (prices in US$)

Qualcomm Inc. (QCOM NASDAQ)

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Then: $70.03; Now: $78.34 +11.72%; Total return: +14.00%

WellPoint (WLP NYSE)

Then: $88.02; Now: $126.31 +43.50%; Total return: +45.93%

Esterline (ESL NYSE)

Then: $80.76; Now: $115.78 +43.36%; Total return: +44.36%

Total return average: +34.76

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Market outlook:

The correction in the equity markets that began in the second quarter within small cap stocks and commodity issues extended to the broad markets in October. While most indices suffered a fairly significant price drop and volatility spiked, the question is whether the duration was sufficient to wash out positive sentiment. This was the first significant correction in over 3-years. We expect greater volatility as we move into 2015, and while somewhat uncomfortable, this is a constructive development for a healthy market.

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