iUnits S&P/TSX Capped Materials Index (XMA.TO)

He has been trimming it. Will pretty much have all his clients out of it by the end of January.

Not making highs relative to 2008. The mining sector is relatively attractive but what is the catalyst. They are managing costs better, but that is all. Don’t invest in this sector yet. Just trade for now.

Want to add gold because of how it has pulled back? XMA is half rocks and trees as well as gold, whereas XGD is just gold.

Basket of resource-oriented stocks. He uses it as a vehicle to keep exposure in the market if he is doing a tax loss sale. Hold it during the 30 days before you buy back the stock you sold for tax purposes. Also, uses XEG for this.

Likes this. There is a pretty good margin of safety. It May drop a bit, but it is unlikely to drop very much from where it was mid-year. About half of it is gold and silver and he thinks these have probably hit close to a bottom again. Also likes COW-T.

The basket is the safest place to be. The worst of the potash fiasco is over. Gold is breaking out. Believes we have a bottom.

Has owned this but golds killed it. The composition of this index (especially because of how badly Barrick (ABX-T) did) changed in such a way that it became a chemicals index instead of a metals index. Wouldn’t put any money in this now. (See Top Picks.)

Hard assets as tangibles have been beaten up pretty severely in the 1^st half of 2013. This product is about half gold and silver which has been very beaten up in the last year, year and a half. He believes that we have to be getting close to a bottom now.

Commodity prices are falling. China is moving away from building roads and infrastructure. You want to look at the consumption side of things. He's staying away from materials right now.

He would prefer something like Franco-Nevada (FNV-T) that has a yield that will continue to increase.

Holds all kinds of materials but has about 30% gold. Gold has been hovering around $1600 an ounce so this gives you a chance to Buy fairly low now.

(A top pick Sept 5/12. Up 1.83%.) Has been a little bit disappointing but he likes it because he loves mining stocks. Feels the materials will do better than the broader Canadian market.

This was a real favourite ETF of his back in the days of Inco and Falconbridge. Now it is basically agriculture and gold companies in there. Thinks there are better plays out there.

(A Top Pick Jun1 1/11. Down 22.72%.) Had thought gold stocks would do considerably better. Prefers gold stocks to gold. If gold stocks stay this inexpensive, there will be a whole round of M&A. Also, picked this because he wanted metals along with Potash (POT-T) and Agrium (AGU-T) which he would get more of than just buying gold stocks.