Market Outlook - Amazon.com (AMZN-Q) issued a Q1 guidance a little weak and perhaps that indicates slower consumer spending. Consumer spending in a rising interest environment is a theme going forward. Interest rates are still rising even if the US pauses for a while and the global economy is weakening at the same time. That is going to affect corporate earnings. We are seeing also wage inflation that we haven't seen in a while. On this kind of environment you want to really focus on valuation. The safe sectors are consumer staple and health care in case the economy falters.

Canada is lagging the US in interest increases. He expect the Bank of Canada to raise over the next couple of years at least 4 more times. In that scenario a regular bond ETF wont perform well. The only are where they see value in FI is in the High yield space.

Complex company. Their financial services sector nobody understand. Instead of looking at turnaround stories with all sort of complications it is better to focus on companies that are delivering free cash flows and increasing their dividends and trading at attractive valuations.

Would there be an opportunity to buy taking advantage of the weakness on the British Pound in case there is a hard Brexit? The financial services industry in the UK has taken a pounding but still thinks there are better places to be. He wouldn't comment on Brexit (even though he think there won't be one) and he wouldn't allowed currencies to influence his investment decisions.

European banks have been hit hard. He sees better value in ING Groep NV. Cheaper and better.

(A Top Pick Jan 30/18, Down 36%) It got caught up on an incident in the UK where an apartment building got on fire. They were using the company's product (that were totally legal). Earnings have not been great.

(A Top Pick Jan 30/18, Down 33%) Representative of the Japanese market. Trading for less than its working capital. This is the reason many of the buyout companies are raising tens of billions of dollars to buy Japanese companies. He think that would be a catalyst for a company like this.

He thinks it is the best of the FAANG stocks. But a difficult one to value. He would never want to bet against them as they are eating the world. But having said that they can not keep on growing in the way yet have or they would own the entire retail world.