Market. Bernie Sanders jumped up to the commanding lead for the US democrats. Even if he can't work, his policies are so draconian in terms of risk that it is a bigger risk than the corona virus affect on supply chains. A study Larry read said that about a third of good consumed in the world touch China, Japan and South Korea once. If those supply chains are broken… Half the people aren't working. The supply chains are broken and right now they are eating through inventory. He thinks it will be months before this all plays out in the world. Lower interest rates cannot help this.

A US oil ETF. Lower is probably where it will go from here. Demand will drop off. He thinks crude oil is going lower to the low $40's. He is very cautious on oil here.

High dividend covered call strategy. These ETFs are the way to go. They have slightly lower beta and you get a much better yield. You don’t want to own these after a big sell-off.

Perpetual preferreds are down today. One issue can be that the basket of shares are being sold. Perpetual preferreds are more like bonds. It could also be credit spreads.

Gold Exit Strategy. Gold has a long runway here but will not go straight up. You could scale out when it reaches highs. He thinks previous highs will be tested. The world is headed to a place where they will literally be printing money to pay for things. Reduce your position to gold and then buy into dips.

ZDH-T is the hedged version. He is okay with exposure to the unhedged version. He would rather get the international version with covered call overlay. ZHE-T/ZWP-T.

This includes a lot of Energy stocks and financials. When global growth is stressed, these will underperform.

Educational Segment. The Corona Virus. People have no idea how this I going to play out. Unlike SARS, we are at market highs. Corona is way bigger than the market thinks.

Market. He is attending two conferences in Florida this week. (a) The FX conference and (b) one with keynote speakers by Fed economists. Corona Virus: It is temporary for sure, but this is going to be a lot bigger than SARS was by a long shot. It won't have a long lasting impact. But it will have a more prolonged impact than the SARS issue and probably has some more meaningful economic impact. We saw the German Chancellor's heir apparent step aside. There is more extremism against more globalism and to more nationalism. This is troubling to him. Ultimately he thinks it is another headwind to more global economic growth.

An ETF that finds some of the weaker companies and shorts them. QBTL-T is a long, low volatility ETF which shorts high beta over valued stocks so it is market neutral. It gives you a negative beta. It is better than HDGE-Q to play a negative environment. If markets go down you will gain some. QTAL-N is a ticker of a US equivalent.

Short provincial ETF. With Provincial bonds you get a little bit of pickup vs. Federal. He prefers ZPL-T for long provincials as opposed to short. He wants more long bond exposure.

Covered call Utilities, pipelines and telcos. It has not gone up and he has not sold it, but it could pull back 10% in a broad market correction. ZPAY-T combined with ZWU-T would give a nice diversified exposure. He would wait for pullbacks to deploy new money.

US Pipeline infrastructure Limited Partnership. He is nibbling away at it. If we get a little bit weaker, he thinks the energy space is a little bit cheaper. He likes this for people who are seeking good yield in their portfolios.

Play China? KWEB-N is an ETF whose founders he met with at the ETF conference last week. It plays the Silk Road Initiative. He plays China through the 'A' shares market.

Mortgage Insurance Plays. We are late in the cycle but interest rates will likely stay low for a while. He would not go for mortgage insurers at this point but would avoid.