Gordon Reid, president and CEO, Goodreid Investment Counsel

FOCUS: U.S. Equities

Market outlook:

At 17 times earnings, U.S. markets are reasonably valued based on historical norms. However, we are entering a period that will include anomalies that may disrupt the progression of earnings growth of the market as a whole.

First, earnings of energy companies are expected to fall by 50 percent plus in 2015. Secondly, for the next several quarters the strength of the U.S. dollar will likely impact earnings of companies with foreign operations. These issues will heighten the importance of sector weights and individual stock selection.

Top picks:

Facebook (FB.O)
Citigroup (C.N)
Regal-Beloit (RBC.N)