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Markets. Everyone is wanting to buy into dips but the markets keeps grinding higher. He does not think the valuations are attractive however. Quantitative tightening could be negative for markets. It is huge to the markets that Trump brings tax reform. Perhaps we will get a ‘sell the news’ impact.

In the next couple of months there may be a little more upside. At the beginning of the year the stocks were overpriced. He is going to trim when it gets back to the high end of its trading range. Don’t add to it now but you could buy on pullbacks.

Infrastructure ETF recommendation. He is not sure there is one that is hedged to the Canadian dollar. A lot of ETFs leave out the engineering companies. ZGI-T and CIF-T are two Canadian ETFs but are not hedged.

A full cost mutual fund is probably 2.5-3% cost. You get active management. An index ETF is lower cost but you don’t get the active management.

Educational Segment. (weekly series) What Investor Personality Are You?: 2. The Preserver / Conservative. They have typically done well in their business or career and have always been conservative. As they get older they get TOO conservative. They tend to have more fixed income. Over the last 30 years they would get 6-7% returns. Over the next 10 years you are looking at a return of 2.5% before fees with higher risk. He does not think you can re-think what kind of investor you are.

It is one of the most global banks we have. It is not his favourite bank to own. On a valuation basis there is probably upside, but these banks could easily get cut in half if we ever get a correction.

Move mutual funds to a Canadian Bank ETFs? It is not a good idea to concentrate your portfolio into one sector. You should be globally diversified also. ZWU-T gives you utilities and telcos. It is 20% global.

He loves the strategy. They are consistently taking in yield in the fund and then pay out 6%. The US exposure has hurt them a little over the last year. Option strategy premiums are lower at the moment.

Oil a year from now. It will bottom late in the year and then the question is what the weather will be like. If we had a cold winter the price of oil can react quite quickly to the upside, as well as Nat Gas. He thinks tax loss this year will be severe. Then we get $60 oil by Q3 and $80 in 2020 (WTI). You would need a major disruption of supply for oil to go higher. He thinks he will make November buy recommendations.

It has a book value of $17 and is trading at half that. The numbers are compelling but there is a credibility issue with management that has to be rebuilt. He would hold. The balance sheet is in good shape. You could buy when there is tax loss selling between week 2 in November to week 2 in December.

He likes the company. He expects 22k BOE per day and 24k next year. It is trading below book value. They have good parameters on a value basis. The management is very well received. It could be a double in the next year or could go down before the end of the year.

A lot of the drilling stocks are cheap. Book value is $4.99 so it is trading very cheap. It could go to a $1.20. During the next bull market it could be a $12 stock. You want to own it and sometime in the fourth quarter will be the time to buy it.

Lots of people like to own it because it is a big cap, but they don’t make a lot of money. It does not have the leverage to the upside like others. It is a conservative holding, it is stable. The stock does not reward shareholders very well and he prefers SU-T

They have had a wild record. Management has done a fantastic job of selling assets. You want this management backing you in an energy bull market.

Quebec is moving forward. They are having fabulous wells. They have higher net backs because of the lack of need for transportation. On a little bit of weakness the stock is one to keep an eye on.