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It is very cheap. Many auto parts used in standard gas vehicles can also be used in EV's Also the migration to EV's will be slower than expected. The biggest risk is where auto sales are heading.

There is still lots of spending on AI which is still in the early stages. It has done an incredible job of migrating to online and mobile advertising and is a dominant player. The productivity for advertisers using these platforms is increasing dramatically. It has many applications and is trading at a multiple of only 20 times.                 Buy 62  Hold 7  Sell 2

Its earnings reported last week were in line with expectations although it missed on the media side. They have done their capital expenditures, have consolidated the SHAW assets and are a year ahead of schedule on cost savings. It trades at 6X operating cash flow and more of free cash flow will go to dividend payments. He is not really concerned about there now being 4 players in the wireless space since wireless continues to grow with usage and penetration.             Buy 17  Hold 1  Sell 0

It is down 60% from its peak and trading at 10X forward earnings with a 6% dividend yield, It took the windfall cash from the Covid vaccines, etc. and re-invested in new growth areas such as cancer, diabetic and weight loss treatments/ drugs., It is out of favour and there is potential for growth.
Buy 11  Hold 15  Sell 0

US corporate earnings strong last week - tech contributing majority of growth. 5% grow with tech sector (~1% without tech). Markets have been stable with higher than expected earnings. Recent US Treasury announcement a concern, with rising debt levels. US bonds selling off slightly which creates uncertainty. Old US Fed bonds maturing will require new issuance of debt - very eye popping. More bond raises will draw capital of out other sectors of economy (harder for companies to raise capital from investors).  

Good option for US bond investors. Would be a great buy if economy tanks. 

Covered call gives extra income, but reduces capital gains. If bullish - would recommend an equity ETF without dividends. This option is good for dividend investors looking for income. Overall, a good product - just a question of investor preference. 

Alexander Hamilton (first US Treasury Secretary) suggested prudent use of leverage was good for society. However, politicians have abused debt in order to buy votes. Rising debt levels in the USA a major concern. Every recession in the past 50 years has followed with record debt levels. Current deficit comprised of 6% of GDP is set to rise. Fiscal outlook for US Fed is in terrible shape. Approximately $1 Trillion of debt expected to be raised by the US. US Fed competing with private companies for capital - investors will give their capital to government - which reduces amount leftover for entrepreneurs etc. Higher inflation will also require increased interest rates, which will increase the costs of servicing debt (money that could be invested elsewhere). Overall, is bad state to be in with colossal debt levels. 

"Regular" dividends are 30c quarterly, for a yield of 1.7%. However, TOU pays a special dividend approximately every four months as well, and we have tried to capture that in the yield, as it has done this for four years in a row and intends to keep doing so. In the past year TOU has paid special dividends of 50 cents (March 2024), $1.00 (November 2023), $1.00 (August 2023) and $1.50 (May 2023). 
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HBND targets a 10%+ yield and writes call options on around 50% of its holdings.
The ETFs distribution yield can benefit if interest rates or the expectation of interest rates rise, as not only the yield on the underlying bond holdings will increase along with interest rates, but a rising yield also means bond prices fall, which benefits the covered call portion of the ETF. But, this means that the price of the underlying bond holdings in the ETF could decline in value, and thus the unit price of the ETF.

If an investor feels that interest rates will continue to rise, then we think HBND can be beneficial in that scenario as the distribution yield and covered call feature will benefit, but the price of HBND will decline as bond prices fall. However, if rates stagnate or decline, this ETF may see some capital appreciation, but its yield can be negatively impacted. In other words, for an investor primarily seeking income, if rates continue to rise, this ETF can be attractive as its yield and covered call portion will benefit (but its unit price will decline). But if rates stagnate or decline, and for an investor seeking income, the yield on this ETF may come under pressure, but its unit price can see capital appreciation. Overall, it is an interesting security to enhance one's yield from a bond ETF. But, it is down 7.7% this year, so on a net basis hasn't really done much (yet) for investors. We think it is OK, but would like to of course see longer performance numbers. 
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We think MAG fits the bill. Its Mexican (safe) mine only recently went into production, and 2024 will be the first year of material revenue/cash flow for the company. The stock is acting well this year as it gets re-rated as a producer. It is not overly expensive and has good growht/exploration potential. 
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Company Highlight: Prime Water Corporation (PRMW)

The second best performer was Prime Water Corporation (PRMW) whose stock price was up 12% on the month, 24% YTD and 24% over the past year. It is a leading direct provider of bottled water to consumers and water filtration services in North America and Europe, having withdrawn from Russia in the 2nd quarter of 2022.

The low for the stock price during the  past year was $16.58 in mid June 2023 from where it rose strongly  near the close to $24.64. The stock ranked no 3 performer in August 2033

Management notes that 2023 was a year of transformation and strong financial performance. PRMW continued to execute against its transformational strategy to become a pure-play North American company, achieving a major milestone as it completed the sale of a significant portion of the international businesses. On December 29, 2023 the European business was sold for $575 million. This plus cash on hand enabled PRMW to redeem in full $750 million of 5.5% senior notes. Cash on hand at year end was $507.9 million

Year end results were announced on February 28,2023: Revenues at $1.772 billion up 4.7%; net income at $238.1 million was up $208.5 million, of which $174.3 million came from discontinued operation.
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