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Gordon Reid.

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

Top picks:

Alliance Bernstein LP
Alliance Bernstein is 64-per-cent owned by AXA, and provides investment management services to institutional investors. Earnings are growing smartly as the investment environment continues to thaw. Distributions are directly tied to income and are expected to be in the 7-per-cent range in 2013.

Priceline.com
Priceline continues to execute and Goodreid expects both revenue and earnings to grow in excess of 20 per cent annually for the foreseeable future. At 18 times expected 2013 earning this online travel site represents excellent value.

Qualcomm Inc.
Qualcomm is a producer of CDMA-based integrated circuits; more than 70 per cent of Qualcomm's revenue comes from licensing arrangements. With one of the largest patent portfolios in the world, Qualcomm benefits every time a 3G or LTE device is sold, an exciting prospect as the adoption of mobility devices explodes worldwide.

Past picks: April 18, 2012

Time Warner Inc.
Then: $36.22
Now: $59.66
Total return: +68.81 per cent

WellPoint Inc.
Then: $69.71
Now: $70.06
Total return: +3.34 per cent

Titan International Inc.
Then: $24.01
Now: $21.15
Total return: –11.83 per cent

Total return average: +20.11 per cent

Market outlook:

U.S. equity markets have made new highs in nominal terms but after adjusting for inflation markets are at levels seen in 1997. Interestingly, corporate earnings, in real terms, are 45 per cent greater than in 1997, leading to much more attractive valuations.

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