Infrastructure for him includes data centres and indie renewable power like Boralex. Broad. He's worried that renewables have run up too far and valuations have run up, especially outside Canada where investors are paying for future growth. He still likes renewables long term, but is careful given these valuations.

Buy airlines and airports now with rumours of government aid. He wouldn't buy either. He doesn't invest based on government aid. What matters are the fundamentals to a business, and this industry is weak. The heart of this is long-haul international business travel, which he doesn't see happening for a while during the stay-at-home trend.