iShares Canadian Long Bond ETF (XLB-T)

While we would be quite comfortable buying long term bond funds right now, and can suggest TLT and XLB (for Canadian) it does require a belief that interest rates have peaked. Long bonds have the most leverage to interest rates. If rates do not drop as expected, losses on such funds can be amplified. TLT, for example, is still down 8% over one year even with  very significant rally this month. A spike in inflation would hurt these funds quite a lot. Thus, we see them as much more aggressive fixed income holdings. That being said, we do think rates have now peaked.
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Commodities will be lower for longer, but we're in a global cyclical upturn. This will lift commodity ETFs including this one. It's a decent holding, but also look at emerging markets.

(Top Pick Apr 16/12, Up 5.46%)

(A Top Pick Feb 23/12. Up 4.83%.) Chart shows this is still basing at around $23 and has potential to go up. Risk/reward is pretty good.

Possible this is the worst investment for long-term hold one could make. When you factor in inflation, tax on distributions and MER, then you have no real return on your money. Shy away completely from it. Doesn’t mean you can’t trade it.

Long bonds are the only things negatively correlated to XIU-T

Bond prices have been flat for 5-6 months, locked into a trading range with no indications of a change.

20 year and longer bonds. If you are bullish on stocks short term then you don’t want to own this. Bond yields can only go so low. Good as a trading vehicle. You can use this from time to time to hedge equity exposure but it has volatility.