DON'T BUY
He would think of getting rid of the currency hedge.
N/A
ETFs vs. Equities. ETFs re just an advancement in technology. To move between asset classes, you don’t have to make as many transactions. If you have a smaller portfolio you should make significant use of them.
BUY
It has worked out well because interest rates fell through the floor. He thinks equal weight is better. As long as economic growth remains reasonable and interest rates remain really low, it should be okay.
TOP PICK
It is less volatile shares from around the world. If you want market beta you want minimum volatility.
TOP PICK
He manages it. The portfolio is risk balanced. You can buy it and forget it.
TOP PICK
Brazil is the one country with a growing PMI. This economy could do very well.
COMMENT
Markets. Ignore the tweet noise. Earnings are fabulous, slowdown in manufacturing, crazy negative interest rates globally except for Canada.
COMMENT
Interest rates in Canada. BOC reluctant to cut rates. But if the US keeps cutting, Canada will have to as well. If things don't improve globally, we can expect cuts at home. We aren't falling off a cliff globally. You can still make money in equities in uncertain times if you just hold tight. TSX is at all-time highs.
COMMENT
Uncertain times. There will always be uncertainty. He can't say if current uncertainty is "more uncertain" than previous times. If you're going to be in the market, this is what happens. Ignore the noise, focus on quality assets, and stay invested.
COMMENT

Easy to short a stock that's already been beaten up. Nothing in the numbers says they're having trouble. Last quarter wasn't great. Retail is tough. Looks cheap, buying back stock, trying for 10% EPS growth this year. He doesn't like retail against Amazon, which he owns. Could be a trade.

DON'T BUY
To grow, they made lousy acquisitions, which blew up their balance sheet. Their product line is out of favour with consumers. Long-term, still has to de-lever. No earnings or revenue growth.
COMMENT
Diversifying, last quarter was good. Dividend safe. For his clients, not the best idea. Still holds personally. Undervalued here at $26. Looks like they're turning the ship around. Lot of free cash flow.
DON'T BUY

Merging with CBS. Third-rate movies. Lots of free cash flow. Wants to own the best companies for the long term, and this one doesn't fit the bill.

COMMENT
How to make 3% and sleep at night. Tax consequences, what's your health situation, how much do you need to live on, age, short and long term horizons? All go into designing a portfolio. Bottom line is there's no such thing as a safe return. There are fees, taxes, inflation. Strangely, dividends are giving you more than bonds. So equities in good quality dividend players, ETFs, and some fixed income could last you for the long term. Just don't chase yield or gold.
BUY
Trading at a 52-week low. Telcos are an easy target for the election. Great buying opportunity. Results are improving. Dividend will go higher. Cheap valuation.