(Every week, Business Edge columnist Gyle Konotopetz profiles the top three stock picks of one Canada’s most accomplished investment pros.)

FEATURED PRO: Jean-Francois Tardif is a portfolio manager with Sprott Asset Management, a Toronto-based independent brokerage boutique specializing in small to mid-cap high-growth stocks.

Tardif is part of the team that manages the Sprott Canadian Equity Fund, which gained 50.6 per cent in the 12 months ending Aug. 31, the Sprott Gold and Precious Minerals Fund, up 94.2 per cent since its inception last November, and the Sprott Hedge Fund, up 84.1per cent in the 12 months ending Aug. 31.

Tardif’s Perspective: “We’re very bearish and believe we’re in a secular bear market that could last many years. The only thing we like on the buy side is gold stocks because it’s a safe haven. We don’t believe the market will turn any time soon.

“People are losing their jobs, evaluations are not cheap yet and there are a lot of issues out there. There’s too much debt out there right now. People feel comfortable because interest rates are very low, but they’re going to have to pay back their debt one day. When people pay back debt, they’re not spending. So we believe the consumer will break next. Auto sales will break down and housing prices will go down. We completely disagree with people who say the bottom of the market has been reached.”



FIRST STAR
* Central Fund (CEF.A-TSX)
* Recent Price: $6.99.
* 12-Month Range: $4.70-$7.62.
* Snapshot: The Central Fund is a specialized closed-end investment holding company which holds a minimum of 90 per cent of its non-cash assets in gold and silver bullion, mainly in bar form.
* CEO: J.C. Stefan Spicer.
* Head Office: Ancaster, Ont.
* Vital Stats: Revenue (last 12 mos), $47,000; Profit/Loss (last 12 mos), $1.33 million loss; Market Cap, $250.23 million; Shares Outstanding, 35.8 million; Yield, 0.23 per cent.
* Tardif’s Comment: “Sprott owns a substantial amount of this fund. We think investing in gold and silver bullion is one of the best investments you can make right now. It’s one way to indirectly own gold and silver.”
* Tardif’s Risk Rating: Medium.
* Web watch: www.centralfund.com



SECOND STAR
* Goldcorp (G-TSX)
* Recent Price: $16.61.
* 12-Month Range: $8.13-$18.80.
* Snapshot: Goldcorp boasts the world-class Red Lake gold mine in Ontario and has a production forecast for 2002 of 500,000 ounces at cash cost of $65 per ounce.
* CEO: Robert McEwen.
* Head Office: Toronto (289 employees).
* Vital Stats: Current Price/Earnings Ratio, 33.6; Revenue (last 12 mos), $166.35 million; Profit (last 12 mos), $52.88 million; Market Cap, $3.03 billion; Shares Outstanding, 182.1 million.
* Tardif’s Comment: “One, we love gold, two, Goldcorp has reserves that could double over the next few years, and, three, if gold goes up Goldcorp should benefit highly because they’re unhedged.”
* Tardif’s Risk Rating: Medium.
* Web watch: www.goldcorp.com



THIRD STAR
* Eldorado Gold (ELD-TSX)
* Recent Price: $1.41.
* 12-Month Range: .25-$1.75.
* Snapshot: Eldorado’s big gold producer is the 100,000-ounce-per-year Sao Bento mine in Brazil and the company is also developing gold mines in Turkey.
* CEO: Paul Wright.
* Head Office: Vancouver.
* Vital Stats: Revenue (last 12 mos), $34.23 million; Profit (last 12 mos), $299,000; Market Cap, $144.34 million; Shares Outstanding, 102.4 million.
* Tardif’s Comment: “Eldorado is a very, very cheap gold stock, it’s unhedged, has lots of reserves and is producing. It’s a high-quality small junior gold stock.”
* Tardif’s Risk Rating: High.
* Web watch: www.eldoradogold.com
* Tardif’s Record (June 27 picks): -0.8%. Best Pick: CCS Income Trust (CCR.UN-TSX) +10.0%. Worst Pick: Kinross Gold (K-TSX) -9.4%.
* Disclosure: Tardif says he owns the Sprott funds in which these companies are held but does not own the individual stocks.