Educational Segment. When comparing the highest rated companies (AAA and AA) to the lowest, they have all recovered to an extent. However, the B ranked companies, junk rated, recovered because of the implied government support. These have a 10-15% bankruptcy rate. High quality companies have consistently outperformed.

Going back to 2012, the Fed has always been concerned with their inflation target. In the 60s, there was runaway inflation that they have worked to stabilize. Now that it is stable, they want inflation higher to inflate away the debt issue. The US government will owe 30 trillion next year. Because of low interest rates, it is manageable. However, if inflation goes up, they will need to buy more bonds.

US Elections The RNC did a good job to present Trump as a worthy candidate. We will probably see the polls close in in the next couple of weeks. The swing states are the only ones to watch closely. The markets will be paying more and more attention to this in the coming weeks.

He hasn't added to his position, but for yield players, it is at an attractive level. This is one of his top pick of the week.

You get exposure to mid and large cap Canadian companies with some companies abroad. A good way to play the sector without trying to chose specific winners.

His favourite way to play the sector. It is over bought at the moment though. There are no ways to play 5G directly through ETFs in Canada. You want to wait for a pullback.

Everything tech and cloud based that makes business easier remotely has done well. The stock has nearly doubled since March. It's probably over heating and there may be a correction shortly.

A recommended favourite for clean energy. If there is a democratic sweep, they will do very well.

Educational segment. There are a couple big index changes and stock splits coming up on Monday. On July 30th, Apple announced a 4-to-1 split. Since announcing the split, the stock has taken off and is now more expensive than before the launch of the first iPhone based on PE. With the split, their influence on the index will be 75% less. In response, the Dow has replaced some industry stocks with tech. Tesla might also be included in the S&P500 soon. There are many changes coming from the indices to watch for.

US Politics. We have started seeing the attention turn to the US elections with the DNC. It will be a referendum on Trump. He still thinks that Biden will win. With mail-in ballots, we may see lawsuits at any of the results that are close.

Next week's speech will be on monetary policy. He is expected to talk about yield curve control. Markets are responding well to what the Feds are doing. It's not a healthy market, especially since Apple accounted for the majority of the lift of the composite.

He hates the life space. They have a big problem with low interest rates. He would avoid lifecos until we see yield curve normalization. We have a massive amount of debts and interest rates just cannot go up.

The dividend stocks as a group has underperformed. There's nothing wrong with the fund. He would prefer technology stocks although they don't pay dividends.

He likes the US dollar exposure. Overall, he is negative on the market in general. Balancing that with the government action, we probably won't get a sharp sell-off. He is positive on the defensive nature and the higher yield.

This gives you the exposure but hedges the currency risk out. However, at the moment you might want the US Dollar exposure.