Floating rate reset preferreds with interest rates going negative. Negative interest rates are not good for a floating rate preferred. He does not think our government will send rates into a negative territory.
He has not owned gold for a long time. It is a trade that has been working out. Gold allocation on the TSX is now at 10%. It is a flight to safety. Spending will eventually fuel inflation. He did not want to take the risk of an individual stock.
They are a leader in global logistics. They help customers assess, real time, what the rates are for shipping. They layer in efficiency that is hard to find. (Analysts’ price target is $57.47)
It is one of the two sectors he really likes within real estate. Multi-unit residential properties in Toronto, Ottawa and Montreal. Housing affordability is very low. They buy properties in strategic locations – key jurisdictions in high demand. (Analysts’ price target is $16.02)