Market. Trump had exempted Brazil last time when he went after steel tariffs. Now they are on. Energy is a big part of what moves the Brazilian currency around. Trump's use of tariffs is not going away. The markets are rationally exuberant about trade. Globally the Purchasing Managers Index has ticked up, except for the US, which is part of the market weakness today.

How do you play the negative side? He does not just make one bet. Gold equities and silver will likely go up and stocks in Canada while other equities will probably go down. It is all about diversification.

We aren't to going to have enough homes for retirees. Living in your home is going to be a big thing and reverse mortgages are going to be a big thing. He does not know if equitable is going to be the place to play this. He would partial sell these REITs at the moment.

Does not pay dividends. It is not a great holding, compared to the S&P or the DOW or a basket of high dividend payers. It will go down as much in a recession as other equities.

Gold. Gold is a flight to safety. GLD-N, GLDI-N, GLDX, GDXJ are his favorites. ZGD vs. XGD are also options.

Being Green. How do I invest in Biodegradable cutlery? SHE-T is the best ETF of the year last year. It is a gender diversity ETF. It has done better than the broad world index but only by a tiny amount.

China announces intellectual property protection This is the critical part of the trade deal--great news. Bottom line though, Trump keeping tariffs on remains a big problem for the world economy. Meanwhile, markets keep marching higher; we're in a manic phase. No one knows where this could go. There's FOMO now. The combined market cap of Apple and Microsoft is twice the size of the US energy sector. This shows how mammoth these two corporations are, touching everyone's lives. There is concentration risk here, speaking to anti-trust issues. As for oil, it could be a value trap (though it will have rallies, especially if the TransMountain pipeline is built in Canada), because ESG is a growing force.

Will the CAD rise to 80 cents vs. USD? No, he never said that, though he added alot of USD exposure as the CAD rose to 77 cents. The CAD will likely fall to 70 cents in the next downturn as Canadian oil prices weaken. So, he'd buy ETFs that have USD exposure.

Gold - Holding https://www.mint.ca/store/mint/about-the-mint/exchange-traded-receipts-etr-6600002 Holding bullion is fine, but if you're really bullish gold, then hold the stocks. You'll get 2:1 upside vs. the bullion. He's market neutral, but very bullish gold long-term using call spreads using GDX. But gold could pullback to the $1,400 break-out; that's the downside risk.

What is a market "melt-up"? It's markets rising but defies logic. There's a lot of money on the sidelines. Towards the end of the year, money managers need to perform for the year, so those managers put money into the market to play catch up. FOMO plays a part. A melt-up is chasing performance.

Has oil hit a bottom, so time to buy XEG? Could be a major bottom here. If we get the TransMountain done and release Alberta/Saskatchewan oil to world markets, this would be a huge value relief for the Canadian oil sector. However you play this, like XEG and ZDO, you will get a big bang for your buck on the small/mid-caps vs. the large-caps which have been beaten silly. Play XEG with an option strategy; buy a call spread in the future when you predict a rally. Pay for this by writing puts. If the market keeps declining, you'll be put at a lower price; the call option becomes free on the upside. Calling a bottom now is very difficult.

Short-term outlook for ZAG, XBB, SXB, PMIF-- broad bond exposure ETFs? Better to look at HISA-like, ETFs, like ZST, which are like money market funds with high-income/yield above 2%. These (the ETFs the caller mentions) still carry some duration risk. He'd much rather be in a money market-like EFT fund.

It buys bonds under 1-year maturity (but these bonds had a higher coupon many years ago, say 5% when yields were much higher). You still get that 5% coupon, but when that bond falls within a year, it becomes like a money market instrument with the bond likely trading at 1.03%--losing $3 in capital. So, there's a natural erosion, because all the bonds in the index have been premium ones, meaning the ETF is buying them above par. So, what you earn in fixed income is yield to maturity, not the coupon.

Why do the dividends on this and similar ETFs fluctuate so much from quarter to quarter? The lumpiness may be due to M&A activity in the space and CQQ had to distribute a capital gain; or some international stocks pay dividends only once a year, so they're lumpy. Water infrastructure is so essential to human life, and this infrastructure is 100 years old and needs repair. A massive opportunity to rebuild and fix this, but the water space is not cheap.