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Market. Thursday they expect to have a go on the tax bill, the senate version of it. They hope to have it completed by Christmas. Markets are going to be looking at this closely. Then there should be a sell on news when the president signs it. Larry does not believe there will not be any new money added to the debt. There is a shortage of skilled labour in the US. He does not believe there will be a 5% increase in GDP because of the tax bill, as predicted. Bitcoin could be reaching a bubble. There is no intrinsic value. He believes in electronic currency in the future but he thinks Bitcoin will turn out to be some kind of payment system.

They just sold half the company for a song. He now classifies it as a speculative company. The chart suggests it is recovering. Resistance is at about $4. Analysts’ targets are all over the map. Analysts are suggesting on average about 10% higher a year out.

A global tactical strategy. It is not unlike what he tries to do for clients. It is asset allocation in an ETF form. It has been out for a couple of weeks so we don’t know how it is going to do. There is manager risk. He does like the idea of the strategy, however.

Dividend paying global ETF recommendation. CYH-T is a currency hedged. ZWE-T, ZWH-T ZWC are good for covered calls. HAZ-T is actively managed.

He does not know the company. The company is in play. Cannabis will be maybe 1% of the world when the industry matures. It is speculative right now. The competition from the illegal market is going to be high and will suppress price. The upside is limited in terms of industry demand. If you are going to play it, play the whole group (HMMJ-T).

Service Companies vs. large Cap Oil and Gas. In the US there is OIHS-N. They are companies involved in drilling, rigs and infrastructure. E&P companies are the ones at risk to the product price. He likes the pipeline space. The commodity is going to hang around $50 +/- $10 for some time. He prefers diversified oil companies like SU-T.

Educational Segment. Financial Literacy – Robotic Advisors. Currently, the human advisor has to talk to the client and get to know them. They propose solutions, implement them and then constantly monitor and adjust strategy. Robotic advising services bring costs down. The first step is best done with a human. You need a trusted goto person. It is hard to trust something you can’t look in the eyes. The constant monitoring is best for the computers but explaining complex concepts or guiding the investor through difficult times still requires an advisor. The advisor industry will be disrupted over the next decade by robot advisors.

Market. Small, mid and large caps are currently bullish according to fund flows. The S&P was up 7 consecutive months to the end of October. The market typically does better than average over 3, 6 and 9 months beyond when this happens. The fundamentals don’t support the valuations so much and valuations are stretched. Most Canadians should be more North American based, but most have too much in Canada. He only has 5% of portfolios overseas. We need to be cognizant that there will be a pull back at some point. Investors should be building more defensive portfolios as interest rates rise. You may want to own pipelines and utilities.

(A Top Pick Nov 28/16, Up 51%) He buys for new clients with new money. He would open a new position. It is growing faster than people expected and hitting the top end of their guidance. As they increase ad supply, the ad price continues to go up. It is in a very strong position to continue to grow. There is always a fear of a rollover of subscribers but a lot of growth is coming from other countries and there is always Instagram.

(A Top Pick Nov 28/16, Up 35%) They are doing well. Last quarter they had their fastest advertizing growth in 5 years. They are defying the laws of large numbers.

(A Top Pick Nov 28/16, Up 46%) A dollar store for teenagers that sells items for $5 and below. He would not buy it now. It is a hold because it is at an all time high. They went up a lot based on the fidget spinner.

He likes it for its ad growth. They are growing revenues at 45% and the bottom line at 38% while trading at 31 times earnings. The exit strategy would be to watch for the growth rate declining. (Analysts’ target: $210.00).

A natural gas processor. Dry gas is depleting and being replaced by liquid rich gas which requires much more processing so this company can take advantage of that. Their balance sheet has less leverage than others. The biggest risk would be competition. (Analysts’ target: $2.08).

This is the contrarian pick. It is down 60% year to date because of a poor box office in Q2/Q3. CGX-T is not down as much as this one. AMC-N plans to charge more for some tickets and to sell movie merchandise in theatres. They plan to pay down debt with a European IPO. (Analysts’ target: $19.00).

It is a disruptor. The valuation of this stock is based on its disruptive effect. He prefers BABA-N as you have a better opportunity for equity growth. We in North America are transitioning from stores to ecommerce. In China they are transitioning from no shopping centers to ecommerce.