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Gold & Market Outlook From an asset allocation perspective, he is holding 30% gold in his portfolio right now. Gold is rising along with systemic risk. Earnings of gold producers has also been rising, although their share prices have not. Most Canadians have 0% allocated to gold. Producers are generating positive cash flow and some are buying back shares here. He thinks these are the best asset to hold during uncertain times. For the overall market, he is concerned about the amount of debt by the central banks. As cash flow shut down globally, we have a debt black swan forming. The US Fed and the BoC are all issuing more debt now. He prefers to stay cautious and watch how the global shut down progresses. He thinks investors looking for gold should avoid anything relying on gold ETFs. You don't want to own just paper. ABM Ambro announced they are cashing out investors as they do not have the physical gold to back their investments. If you don't own physical gold, you don't own anything. Silver has even greater upside, he thinks, as real physical price discovery takes place. For his cash position, he wants to see a level off of COVID-19 cases in Europe before deploying any cash. He wonders how long the central banks can keep the system going. So he would prefer to wait to see how things level off.

He loves pipelines as an asset for cash flow. The problem is the market sell off causing redemptions. This kind of liquidity crisis will allow yields to go up, but he thinks it is the time to be cautious and wait. He thinks the dividend is still safe.

He thinks they have continued to maintain and deliver cash flow while paying a strong dividend. You are getting paid to wait.

Hang on? He does not think they will go bankrupt. They sell oil in Europe and are getting a better price than in North America, where the debt levels are much higher. He owns it and still considers it a hold. He is glad the dividend was cut to help preserve cash for later.

He has as $6.75 as a speculative buy. He thinks sales continue to track along and thinks this down turn may be the best thing for them. When it comes to CBD oil production everything is being produced in North America. The industry as a whole has been consolidating, but he is still going to wait before buying in as whole.

Blockchain ETFs? He loves block chain and has about 7% of his portfolio. He likes HIVE as they are a miner of block chain coins. Global integration is just getting going. The technology will benefit from the way global markets will go forward. Imagine if gold could have a tracking system for physical it would do wonders for the control of its movement. He thinks this will happen with block chain technology.

He does not own this, but has it as a speculative buy with a $2.50 target. He prefers to begin building a portfolio with royalty companies as they are the least risky, followed by the lowest cost producers and finally producers like this one. Their deposits appear attractive.

(A Top Pick Mar 15/19, Up 17%) It was bought back in October and so he does not hold this any longer.

(A Top Pick Mar 15/19, Down 1%) He was taking profit on the way up. They recently merged with another producer and has since shut that mine due to COVID-19. He still has it as a buy with a $53 target.

(A Top Pick Mar 15/19, Down 24%) He still holds it in the portfolio, but had taken some out at $4 per share. He is looking to add to the cannabis sector again following the consolidation. He holds an $8.25 target. They are producing a CBD and THC beverage.

He thinks pipelines would be safer, although this price level could be a good entry level. This is the go to producer in the energy space. He has a buy recommendation with a $40 target. He would still wait for another couple of weeks to learn more about the impact of COVID-19. Will they cut back the yield? He is not sure. He would suggest buying half of your entry amount here.

Gold vs HUI If you look at HUI, trading near $198 and gold at $1654, there is a massive discretionary between their values. HUI (Gold Bugs ETF) is trading as if gold is trading at $1000. Company earnings are improving, so he thinks you could begin building positions. He would consider buying FNV here as a starting point and look to build a diversified portfolio. He would stay away from ETFs, if they don't own the shares in the underlying companies. He thinks you should own 20% in the gold sector.

Gold vs HUI If you look at HUI, trading near $198 and gold at $1654, there is a massive discretionary between their values. HUI (Gold Bugs ETF) is trading as if gold is trading at $1000. Company earnings are improving, so he thinks you could begin building positions. He would consider buying FNV here as a starting point and look to build a diversified portfolio. He would stay away from ETFs, if they don't own the shares in the underlying companies. He thinks you should own 20% in the gold sector.