Our potentional stakes

Our potentional stakes
Canadian bank
Canadian financial institutions mostly avoided the worst of the fallout from the credit crisis due to tougher regulation and a more conservative culture that kept them away from risky credit derivatives that hurt so many of their competitors in Europe and on Wall Street.
The problem is that retail banking – one of the main engines of the sector – is deteriorating, with earnings collectively down 10% from the second quarter of 2008.
For expample we are looking for buying TD stake.
Energy/commodities stocks
We are bullish on comodities mostly not by that we see potentional demand increasing but mostly by inflation expectations. We are not sure that real economy demand on commodities will increase huge. We assume “W” vivid structure of economy recovery. With second down wave on august/september 2009.
We have big inflations expectations and doubtful market growth. If no risks will be converted in to reality we will see continue of market growth and gold growth too. Market will growth by better fundamentals, gold will growth by inflation expectations - if economy is began to recover - inflation wiil begin growing quick. If we dont see real economic recovering now, we will see second wave of recesion. It will mean more money to print again, bigger inflation in future, so market in this scenario will go down again, but gold after some down move, will grow even more quickly. For our fund we wanna to acumulate positions in gold, silver, stocks which are producers of commodities. The focus of our fund will be on silver. We have to be happy buy silver companies but silver companies is very expensive on fundamentals. Better way just to buy silver as metal.
On oil OPEK will not increase supply until oil prices will rich 100$. For most OPEK countries 75$ - comfortable price. Other positive on oil was Goldman upgrades to 85$. Before last rally they said about oil growth and then we saw 150$ price .
So we dont saying that this type of stocks will growth, we just saying that they will be strenghter than market.
Technology
Even now we see a nice up in buisness activity of technology stocks. They have a good balance sheets with large cash positions and ready to invest in new buisnesses, innovations. We already have a large stake in technology but we see opportunities even to increase it. Candidats are DELL, CSCO, ORCL