COMMENT
Canada and US 1- to 2-year treasuries -- sell early or hold till maturity?

If you want a fixed income allocation and that's why you bought them, then you should hold them because that's who you are. 

If you have them and think there'd be a better opportunity, such as if the stock market really takes a massive beating further from here, that could be a source of cash to deploy into equities at much higher yields (even if the share price wanders around in the wilderness for a while).

DON'T BUY
NVDA vs. TSM

His pick in the sector is TSM, which makes the chips for NVDA and the like. It's more diversified. Valuation is cheaper. Much clearer growth path going forward over next few years.

NVDA has fallen, but it's not a cheap stock. Factored into the share price is a huge growth expectation. Just because share price has fallen on a high flyer, that doesn't necessarily make it cheap.

BUY
TSM vs. NVDA

His choice in the space. It makes the chips for NVDA and a whole slew of others. It's more diversified. Valuation is cheaper. Much clearer growth path going forward over next few years.

NVDA has fallen, but it's not a cheap stock. Factored into the share price is a huge growth expectation. Just because share price has fallen on a high flyer, that doesn't necessarily make it cheap.

STRONG BUY

Likes the big 5 Canadian banks; all have wealth management, retail, and commercial banking in Canada. This one is among the cream of the crop, over-capitalized, best performer. Rock-solid dividend yield ~4%. Nothing not to like about it. Best in wealth management. Steady dividend growth.

DON'T BUY

Not ready to buy. Stock's suffered, but still not cheap. Lots of growth is built into the share price. If recession, consumers will stop buying or buy less. He'd prefer AMZN, quite frankly.

BUY

He'd prefer this to SHOP, as AMZN is way more broadly diversified. Plus its cloud business is a massive business. Because of cyberattacks, a company of any size is forced to use cloud services either from AMZN or MSFT. Fears of recession are hitting all retailers and e-tailers.

WATCH

He's taking a look. Its business will have steady demand. Many companies absolutely depend on it, and that's the advantage.

TOP PICK

At current share price, incredible value. Grows at over 10% per year. Search, Chrome, Maps, YouTube. Growth monster. R&D spend is almost $50B per year. Trades at 18x PE. Easily a double over next 5 years. Advertising is ~80% of the story, not going away anytime soon. Yield is 0.56%.

(Analysts’ price target is $215.93)
TOP PICK

Flagship US bank. Dimon has done a spectacular job. Pristine risk controls. Trading ~13x PE. Either #1 or #2 in all of its major businesses. Still growing and gaining market share. Core holding in any portfolio. Time is ripe to buy the best, you don't have to go down the food chain. Yield is 2.73%.

(Analysts’ price target is $266.16)
TOP PICK

After spinoff, now just pharma and medical technologies/devices. One of 2 AAA-rated US companies (the other is MSFT). Pristine balance sheet forever. Divvy increases for 62 consecutive years, all from free cashflow. Crazy-cheap valuation of 14-15x PE, partly due to ongoing talc litigation. Yield is 3.34%.

Recent press release was like none other. Company stated talc litigation based on fake science; if the other side won't settle, JNJ will litigate each and every case separately. He suspects this is a ploy to force a settlement. Expects it to be over by year's end.

(Analysts’ price target is $170.36)
COMMENT

Nobody likes these tariffs and bear market. He thinks that before Thursday when Congress steps away from its session, news from Congress or the White House a better path forward. Fingers crossed. If there's no resolution and Congress recesses, more volatility will happen. But volatility offers opportunity through lower prices, like Nvidia dipping below $90. It popped over $100 on rumours that the tariffs were on hold. You can nibble on names that are on sale now. He's cautious. Corrections always happen, so always have some dry powder. If you're worried by this sell-off, you don't have the right portfolio for your long-term goals.

COMMENT

Is 30% exposed to US telcos, communications and pipeline, so most of this holds Canadian dividend stocks. Buy this and sleep at night. Very defensive. He sold some of this last Friday to buy more aggressive in his portfolio during this strong sell-off. But this is not bad to hold at all.

BUY ON WEAKNESS

His least-favourite Canadian bank, the most over-valued. Prefers TD because it was beaten up, and BNS for better value. If it's new money, wait till $130-140, though you could buy a small tranche yere.

COMMENT
Caller has put spreads on Canadian banks in the money, expiring April and May. To neutralize losses, should he roll these to another expiration date in June or July, or write some call spreads to turn them into Iron Condors?

Needs more details, but it sounds like the caller is hedging long exposure to his underlying bank stocks by owning put spreads (great). Depending on where the put strikes are, take your profit on the long end and expose your naked put to add to the position. Look at the price of volatility in the short run vs. what you will pay to roll those out to the back months. Needs more time to explain more. Don't sell calls here, not when the market is down.

DON'T BUY

You don't need any fixed income 15 years ahead of retirement, because it depends on your level of risk. If inflation is more persistent for a decade or more because of tariffs, the bonds in a portfolio will fail. Fixed income has been terrible for a decade and will be for a decade more.