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May 3, 2006
An "Action List" from TD Bank equities group, Wed., May 3, 2006, 9:21 AM
Senior Canadian banker TD Newcrest covers the majority of good quality companies that trade on the TSX. On May 1, they released an Action List. Have a look. When I get the time, I'll review each of the 33 picks for you.
For those conservative investors who are oriented to Canadian income trusts, there are six picks (first price in CAD was current at time of report May 1; second is 12-month target):
Diversified Income Trusts
Chemtrade Logistics Income Fund CHE.UN $10.21 $14.00
KCP Income Fund KCP.UN $9.77 $13.50
Sleep Country Canada Income Fund Z.UN $27.35 $33.00
Oil & Gas Royalty and Income Trusts
Penn West Energy Trust PWT.UN $43.27 $46.00
Trilogy Energy Trust TET.UN $20.89 $22.00
Power Income Trusts
Macquarie Power Income Fund MPT.UN $10.21 $12.00
Posted by Posted by Bill Cara on May 3, 2006 09:21:09 AM | Category: Canada
Discourse
SmallCapFan, and others,
I have no intention of quitting the blog. In fact I am trying to make it better.
Sometime this year, maybe after I get over 10,000 unique servers per day accessing me, I intend to get an assistant.
There are times when I get down when I see stupidity in markets going unchecked by the authorities. As soon as they relax, then the media feel it's open season to make serious matters like capital markets trading a thing of entertainment.
What gets into the head of a business reporter who glorifies the people and their methods of screwing thousands of legitimate holders of shares and bonds in going concerns. These people must think life is just a game -- and he who beats down the other side is "smart".
My disdain is unlimited for reporters who don't rail at the very notion that an employee of a shareholder owned company can take home US$85 million or $180 million compensation in a year. These reporters are not communicating the feelings of traders or society. But they do it because they are on the take. How they get pieced off is through free trips, money in envelopes, parties, insider information, and the like. I'm bloody sick of it.
Where are the authorities? They say they can't chase everybody? In Canada they have convicted and incarcerated exactly no one. And the authorities are involved too. I once sat at lunch in Toronto's most expensive restaurant where a so-called protector of the law asked a stock promoter if he would be gifted a piece of resort property for illegal services rendered. How do you think I felt sitting there? Later that promoter tried to slip me stock in an envelope, which was the final straw. I called the Exchange and had the stock halted (permanently as it turned out).
I'm saying that the people in the center of markets, and the media around them, are part of the problem because they see what's going down, and they take steps to position themselves to personally benefit in some way.
Nobody want to talk about this. And that depresses me, at times.
Posted by: Bill Cara ![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
May 3, 2006 11:04 AM [link]
Bill,
I believe your blog, plus some others, are the start we need to grow our collective 'common sense'.
I for one would be willing to provide assistance in anyway I can to support your efforts for open-minded, fair and logical analysis to the markets.
If we can get just a little bit from the thousands that read this blog - who knows where all this will go?
Heck - not all of us can have drinks with the 'New Fed Head' :)
Posted by: mn2006 at
May 3, 2006 11:44 AM [link]
mn2006,
Good idea, but somebody has to organize it.
This is something I'd like to see done by a leading University. I tried to get McMaster University of Hamilton involved in Stelco -- the Dean is a past CEO of Schwab Canada and Director of the Ontario Securities Commission -- but no response.
The thing is, somebody needs to organize it, and maintain it, and assure the quality and hence the reputation.
Posted by: Bill Cara at
May 3, 2006 12:17 PM [link]
thank you for your post,Bill. Actually that was what my wife said "Bill won't stop blogging, because he enjoys it. Now he is probably just too frustrated." I find sometimes it is easier for a person to quit his belief than to quit what he enjoys doing. I,as others, enjoy reading your articles. I find I just can not quit that.
Best regards
Posted by: SmallCapFan at
May 3, 2006 3:46 PM [link]
Cheating never changes, it is just the means to accomplish cheating which change. History teaches that all great "bubbles" i.e., John Law's Mississippi Co., South Sea, etc. require at a minimum the implicit cooperation of those in power and often the explicit cooperation through actual "gifts."
The only true balance has been 1) the ability of individuals within the establishment with enough integrity to be unafraid to voice their concerns; and 2) the ability of the "average" market player to access this correct information in a timely manner.
Historically, the ability of (1) to communicate to (2) has been hindered by the "toll" on communicaiton (print or broadcast media); the internet in general has removed the traditional roadblocks between (1) and (2).
It is said that people overestimate the impact a technology has in the short term and underestimate it in the long term.
If that is the case we will only be able to truly appreciate Bill Cara and others like him several years from now when the idea that information should be available to all to make a fair decision is accepted as a rule rather than the exception.
In the meantime all I can offer is my support and a thank you.
Bill, regarding the traffic of your blog,last night after reading your post, I asked my wife if I can download your entire blog, because you might stop writing but I need to read it from time to time.My wife, who is a programmer said she can make a small program to do that job. But she said that might be not fair to you since the program will visit your blog page by page automatically, that would increase the traffic significantly or even shut your blog down. So I officially give up this idea.
Posted by: SmallCapFan![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
May 3, 2006 10:39 AM [link]