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TSE:POW
He owned Power Financial for a long time, but not POW. All financials plunged in 2008, but POW has never really come back. However, recently, the stock is doing well after investing in tech including Wealthsimple (a smart investment). If you want to own Great-West Life, buy it directly and not trough POW.
(A Top Pick Aug 17/20, Up 62%) It remains a compelling name. He models 14% EPS growth. Their underlying subsidiaries are performing well, including Great-west Life which is doing acqutisiions. Also are doing private equity plays like Wealthsimple. Pays a nice dividend.
Holds communications, cash, Great West Life, Investors Group. He doesn't want anything in the mutual fund industry. Not trading at a big discount to NAV. Safe, decent dividend, reasonable valuation. Not attracted at these levels. Doesn't have the growth.
Not that enamoured. Doesn't like the business. Can't believe the high fees they charge. Family management team not proactive. More horsepower in Manulife for a similar business. It has better risk/reward long-term, with a good-sized dividend while you wait.