Benj Gallander, president at Contra the Heard Investment Letter

Focus: Contrarian and value investing
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MARKET OUTLOOK
While the markets have popped with the election of Mr. Trump, if his major economic policies are implemented, it will lead to higher inflation and a larger debt and deficit, add-ons to already dangerous conditions. While in the short term his choices may bode well for the markets, in the longer term there will be additional problems that will likely bring pain. Mr. Trudeau’s policies are following not far behind.

TOP PICKS

AEGON N.V. (AEG.N)
This huge Dutch life insurance company that also manages pensions and assets is in 20 countries, including the Transamerica operation in the United States. It should benefit from rising interest rates. Operations have been transformed over the past few years to improve the bottom line. Initial sell target: $20.34

INNODATA (INOD.OQ)
Digital services provider INOD has been around for almost 30 years. The stock price tends to spike every few years or so. The enterprise has virtually no debt and cash in the bank. Initial sell target: $6.74

BLACKBERRY (BB.TO)
This once enormous Canadian enterprise is now a shrivelled remnant of its former self. Still, the feeling here is that CEO John Chen will turn this corporation around. It has a deep-pocketed financial backer in Fairfax Financial. Initial sell target: $23.24
 

PAST PICKS: OCTOBER 27, 2015

RONA PREFERRED SHARE A (RONa.TO)
Acquired by Lowe's (LOW.N) on May 25, 2016

• Then: $14.00
• Now: $23.99
• Return: +71.36%
• TR: +72.19%

JINPIN INTERNATIONAL (JST.O)
Acquired by FNOF E&M Investment on April 19, 2016

• Then: $3.81
• Now: $5.94
• Return: +55.91%
• TR: +55.91%

FIRST UNITED (FUNC.O)

• Then: $8.20
• Now: $14.75
• Return: +79.88%
• TR: +79.89%

TOTAL RETURN AVERAGE: +69.33%