Lots of questions on that. Likely to be more willingness to open pipeline capacity to the US. Regulatory environment might be more friendly. Particularly good for long-life assets. Nice pickup in volume as pipeline capacity to US has gotten better. Price differential has been coming down. Weak CAD has also helped these companies, though you have to separate natural gas from oil. 

We'll have to see what policies come forward. He's sticking with the very long-life assets paying great dividends.

Whoever wins the US election, the market prefers a divided government between the White House and Congress to avoid extreme policy. Wouldn't be surprised if the vote tally is dragged out which could produce market volatility. She is bullish for the next 12-18 months, but has trimmed positions to increase her cash to re-deploy later.

Was today's market a dry run for a Harris victory? Doesn't know, but it could be days or weeks before know who wins the election. Yields went down today, instead of up which is expected if the Democrats win. But they went down probably because of a bet in interest rates going lower if Harris wins. Surprising. Neither platform will be good for the deficit, but the consensus is that Trump's will be worse, give his proposed tax cuts and many tariffs.

Company Highlight: Payfare (PAY.TO)

Payfare (PAY.TO) is a Canadian fintech company that provides earned wage access (EWA) to gig economy workers. A gig economy worker is a contractor, freelancer, or flexible/temporary employee (Ex. food delivery driver and Uber drivers). Through PAY’s digital banking platform, it helps these workers get instant access to their money. Earnings are paid out instantly through a free digital bank account powered by PAY. This was a very strong value add where the traditional direct deposit system would take a few days for money to reach these workers accounts, and for many gig-employees that delay would be troublesome (Ex. Uber drivers needing to pay gas expenses after a day of rides). The business model made plenty of sense and PAY had contracts with blue-chip customers and the biggest employers of gig-workers including Uber, DoorDash, and Lyft.
Unlock Premium - Try 5i Free  

Should it always be in your portfolio? No. But it's another type of asset class that can help hedge inflation.

The US election (tomorrow) is too close to call. Since 1952, the average quarterly return has been 2.2%, and Q4 in an election year gains 4.0%. More of that gain follows the vote. However, the year after the election under the Democrats returns 16.5%, and less than 1% under the Republicans. That said, 2017 was a strong year. US Q3 results are strong, but valuations are getting high. Warren Buffett is reducing his stake in stocks like Apple and raising record levels of cash--are we in a toppy market? He himself is not raising cash, because inflation is being tamed and the worst is behind us. Growth lies ahead, but avoid overvalued stocks. There's a rotation out of mega-caps, including tech, and into smaller caps, which is why he likes mid-caps (US$5 billion-up, and C$1 billion-up). Small caps are riskier and few do well.