Markets. Clear signals we're in the early stages of a new economic cycle. Many investors are focusing on secular growth stocks, and missing opportunities in the more cyclical materials, agriculture, and industrials. The cyclicals probably have a long runway and are relatively inexpensive.

Commodities. If you look at the RJI ETF or the DBC, only about 4 months ago we broke a 14 year downtrend. Positive outlook should go on for several years. Themes like electrification will encourage incremental demand in things like copper. You have to pick your spots, and this is one of them.

Oil. Across the commodities sector, agriculture was the first to break out, followed by forestry, and then base metal miners. If you look at the XOP ETF, we still have to break the downtrend. Bigger headwinds in energy than in other sectors. Some companies have become stronger through the difficult times, and he has some positions there.

Reaction to earnings. Don't look just at what the earnings are, but how the market reacts to the news. Not the first day, but a week to 10 days out. How is the market digesting the news? NFLX is one of the casualties of not over-delivering enough.

Lumber price affecting homebuilding demand. The question is if there's pricing power to put through to the buyer. It seems that there is. After years of very little movement, prices are now going up. He likes the suppliers to the homebuilding industry, as well as the builders themselves.

Gold and silver. If you look at the GDX ETF, it's broken out of consolidation since March, led by Newmont and FNV. We've started the next leg higher in gold, and this will be significant. An asset to hold if you believe money printing is going on. This is a sector you want to own once in a while, like now. Since March, miners are outperforming the metal itself. Companies will generate significant cashflow. Silver is an industrial metal and should do well.

Canadian banks. Not a time to hold significant cash. Asset prices are inflating to offset global liabilities. Have to take central banks at their word that they will continue to push monetary policy and that fiscal policy will continue to push growth. Make sure you own things that will hold their value. Canadian banks have been a great place to do this. Great history of deploying capital effectively and growing dividends.