Q: Just a short comment on the rails, having been employed at one for my career. These two companies may see volume drop off, but they also have the ability to reduce capex and headcount. In an environment of less traffic, their operating ratio gets easier to reduce. In my mind, very defensive stocks to hold

Q: I have held CP for some time. After a period of strong increases, in the past few weeks it has pulled back by over 15%. CNR (which I do not own) also pulled back but not to the same degree. This surprised me as general economic conditions still seem fairly positive and I would have expected the rails to continue with strength. Do you see these companies returning to their positive path over the next 3-6 months? Thank you.

Q: hello 5i:
the railroads are beginning to look a little more interesting to me. While I still think we need at least another 5% taken from the price to become very interested, I wish to know which you'd pick today, knowing you go back and forth on them (you last chose CN in mid-August), and WHY you'd choose the one you do.
thanks
Paul L