Peter Brieger for market call
Peter Brieger is CEO and managing director of GlobeInvest Capital Management. His focus is on North American large caps.
Top Picks:
Bonavista Energy Trust
The current yield reflects past fears that the distribution is unsustainable. However, with the past and projected future improvement in natural gas prices, we think the dividend is safe and with that the share price can return to early 2013 levels.
Tetra Tech Inc.
TTEK is a world leader in providing consulting, engineering and project management services to U.S. governments and global companies in the water and environmental areas.
Central Fund of Canada Ltd.
With the continuing decline in the value of paper currencies, in no small part because of governments' failure to successfully deal with their deficit and debt problems, gold's attraction as a store of value will increase.
Past Picks: Nov. 08, 2011
Inter Pipeline Fund
We continue to hold and add for new accounts.
Then: $17.80
Now: $22.46
Total return: +33.55 per cent
Scorpio Gold Corp.
We remain highly confident that with this company's increasing production and its forthcoming acquisition, our one year $1.50 price target will be reached.
Then: $0.91
Now: $0.50
Total return: –45.05 per cent
Bonavista Energy Trust
Then: $26.53
Now: $16.13
Total return: –34.47 per cent
Total Return Average: –15.32 per cent
Market Outlook:
From oversold levels, both the TSX and the S&P 500 have retraced more than one-half of their recent declines on the back of hopes that 1) the Washington politicians will avoid going over the fiscal cliff, 2) the latest housing data, which provides the basis for a long-term recovery and 3) signs that the Chinese economy has bottomed and will show improving growth going forward. However, there are major obstacles to overcome before there will be clear sailing for markets.