A Comment -- General Comments From an Expert (A Commentary)

Uranium Sector. Has the bull started running? His proxy is CCO-T. If there is a bullish case for Uranium, the analysts have not heard it. U-T is up 66% so had had quite a move. He hopes the analysts will get the same message he is about the outlook for uranium.

Big 6 Canadian Banks? Their view has been for the past few years that the environment for banks was becoming challenged as interest rates moved towards zero. The upcoming recession will make things worse. He has holdings still with TD and RY. In Japan, where interest rates have been at zero for a long time, bank stocks there have not done well. He sees the same issue for banks in the US, but feels the Canadian banks will do a little better, but like sprinting the wind. Be cautious about being too overly exposed to any one bank.

Investors need to look past this unknown period. Find great businesses on sale that can weather the storm and step into them. There are many unknowns, namely governments' ballooning deficits. He's surprised by the recent rally, but won't predict the future. Markets tend to test lows after such rallies, so have dry powder handy. In mid-March, he stepped into some companies, then waited. There could very well be another tumble. The pandemic is a new crisis, different from the recession of 2008-9.

For older, long-time investors, ride it out or sell? Make sure you have diversified portfolio with bulletproof stocks in finance, tech, etc. This is the worst possible moment to sell. In historic downturns, you should have stuck them out and bought. Don't watch your stocks obsessively, but watch a movie.

Buy high-yield corporate oil bonds? A great time to invest in them now. In the last 40 years, these bonds have had 8 negative ones; each negative year was followed by a strong up one. Bonds have to mature. They work well in a highly diversified portfolio. However, energy is very and he is avoiding that sector.