You could ask if there is a better way to hold it so that you get a currency hedge. ZUH-T does this to give you healthcare sector exposure. He would wait until the dollar moves back to 77 cents. If the Canadian dollar was higher than 80 cents you would not want hedged exposure.

The biggest challenge is that implied volatility is so low that you cannot harvest enough yield from a put write portfolio. You are exposed to the US$ also. ZPH-T has a currency hedge. He would prefer this after the dollar pulls back.

BANK-T vs. ZUB-T. Exposure to US or International banks. The yield curve is telling us we are headed toward a recession 6 to 18 months out. The yield curve is flattening so banks’ net interest margins will not improve. He does not want to chase them here.

Global industrial ETF, hedged. Industrials have generally outperformed over two years but have been parallel to VT-N for about 6 months. When we go into recession these will turn down. You are chasing it a bit here and he would prefer to be more defensive.

BANK-T vs. ZUB-T. Exposure to US or International banks. The yield curve is telling us we are headed toward a recession 6 to 18 months out. The yield curve is flattening so banks’ net interest margins will not improve. He does not want to chase them here.

It is his largest position. It has had quite a move to the upside recently. 3 analysts started covering the stock and they made an acquisition. They are very well managed and there is good growth in wine consumption. They also benefit where Ontario grocery stores are being encouraged to carry wine. Buy it on a dip and put it away. He does not think pot legalization will cut into wine consumption.

They are a meal kit company delivered to the home. Their penetration is incredible. The service is very big in Europe. They are focused on growth but focused on the bottom line also. He thinks the trend is here to stay. They could become an interesting acquisition target.