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FROM UTILITIES TO CANADIAN TRUSTS:

FROM UTILITIES TO CANADIAN TRUSTS:. INVESTING SAFELY FOR HIGH YIELD AND GROWTH ROGER S. CONRAD. BAD NEWS. CREDIT CRUNCH WORSENS ZERO RISK TOLERANCE FINANCIAL SYSTEM WEAKENED DOLLAR DECLINES AND INFLATION POLITICAL RISKS NEED VISIBLE BOTTOM. GOOD NEWS. FEDS TO THE RESCUE

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FROM UTILITIES TO CANADIAN TRUSTS:

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  1. FROM UTILITIES TO CANADIAN TRUSTS: INVESTING SAFELY FOR HIGH YIELD AND GROWTH ROGER S. CONRAD

  2. BAD NEWS • CREDIT CRUNCH WORSENS • ZERO RISK TOLERANCE • FINANCIAL SYSTEM WEAKENED • DOLLAR DECLINES AND INFLATION • POLITICAL RISKS • NEED VISIBLE BOTTOM

  3. GOOD NEWS • FEDS TO THE RESCUE • 10 YEAR TREASURY YIELD DROPS • VALUATIONS HAVE TUMBLED • TAX ADVANTAGES THROUGH 2010 • MANY DIVIDENDS SAFE • RETURN OF THE YIELD SEEKER

  4. STRATEGY • BUY AND HOLD IS THE ONLY WAY • BUY THE BUSINESS • GROWTH AND INCOME: INSEPARABLE • DIVERSIFY SECURITIES, SECTORS • CONTROL DURATION • HOLD CASH • BUY ONLY VALUE

  5. CANADIAN TRUSTS • STRESS TESTED • 2011 NO DAY OF RECKONING: THE TRINIDAD STORY • GOOD BUSINESSES SELLING CHEAP • CANADIAN DOLLAR/ECON STRONG • PREMIUM TAKEOVERS

  6. CONSERVATIVE PORTFOLIO • HIGH YIELDS NO MATTER HOW TAXED • GOOD BUSINESSES KEY • ALTAGAS INCOME (ALA.UN, ATGFF) • NORTHERN PROP (NPR.UN, NPRUF) • ALGONQUIN PWR (APT.UN, AGQNF)

  7. GETTING AGGRESSIVE • ENERGY TRUSTS: GAS VS OIL • BUSINESS SUSTAINABILITY KEY • ENERPLUS RES (ERF.UN, NYSE: ERF) • PENNWEST (PWT.UN, NYSE: PWE) • TRINIDAD DRILL (TDG.UN, TDGNF)

  8. UTILITIES: BE SELECTIVE • BULL MARKET MEETS THE CAPITAL CHALLENGE • REGULATION KEY TO GROWTH • RISING VALUATION RISK • DUK, UTL, AES PREF C • VZ, WIN, CCT • WTR, CWCO

  9. LP’S: STICK TO PIPES • TAX-ADVANTAGED MARKET POPULAR AGAIN • INFRASTRUCTURE PROVEN STEADY • BIG DIVIDEND GROWTH SET • EPD, NS, APU

  10. RESOURCES FOR BALANCE • COUNTER-CYCLICAL • DRIVEN BY GLOBAL GROWTH • RESOURCE NATIONALISM • MERGER MANIA • GG, RTP, FCX

  11. WHAT TO AVOID • LONG-TERM BONDS—NO YIELD ADVANTAGE, MORE RISK • MOST FINANCIALS • MOST US REITS • FAILING NUMBERS • INSURED BONDS • THE HIGHEST YIELD

  12. FOR MORE • UTILITY FORECASTER www.utilityforecaster.com • CANADIAN EDGE www.canadianedge.com • www.vitalresourceinvestor.com • www.utilityandincome.com • www.mapleleafmemo.com

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