Q: Is there a particular reason that you do not own more energy stocks in the portfolio’s and are underweight the sector? Seems somewhat surprising in light of many companies returning capital to shareholders via significant dividend increases and share buybacks this year.

Q: What is your perspective on Cenovus compared to Suncor and CNQ for a 2% allocation in a well diversified Canadian/US equity portfolio?

Q: Hi Guys
I'm having a hard time wrapping my head around how Asset Writedowns &Restructuring Costs can actually add to Cash from Operations, in the case of Cenovus say 1.5 Billion. Can you enlighten me on how this should be perceived as Positive Cash Flow
Thanks Gord