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Canadian Federal Budget. It is a difficult time and balanced budgets have been thrown out the door. It is important they spend money prudently and invest in the future. Free handouts are not productive in the grand scheme of things. Would like to see investments for future tax payers. There are signs for it so is looking forward to it.

Crypto currency. We will see some ETH ETFs this week. The ability to speculate in these assets are becoming main street. It could blow the bubble even bigger. Speaks to lack of trust in governments and money printing. Hard to value it.

A way to extract extra yield from gold miners. With volatility, the enhanced yield is interesting. If you think the price will go sideways, it would be preferable to hold something that generates yield like HEP. However, if you think it will go up, you don't want to give away the upside. Right now, gold probably has some upside in the next 6 - 12 months.

Gold. There is real negative interest rates and the imbalance between treasury yields, debt supply and central bank action. Yield curve control is a factor. There will be higher inflation. Crypto is taking money that would have gone into the gold sector.

It is long with a covered call. They are writing put to generate yield. When markets pull back, you get longer. When markets go up, it gets called away. You get a yield in the 6% range.

Bullish on medical marijuana. We will see legalizing banking in the US for the sector. There will be volatility. He sold into strength. Likes it here. Has lots of upside potential.

Interest rates. The long bond change would change inflation expectations and central banks have less control over this. If longer yields start to take off, there will be stress on lending. Another way for interest rates going up would be the Feds seeing inflation and raising interest rates to correct it. It is a real time experiment. They will probably initiate yield curve control. There is also increasing debt by government and central banks need to monetize debt. If inflation rises significant, it is a huge problem.

Canadian banks. On a multiple basis, they are not expensive. They are not cheap however. Everything is inflated because of the low cost of money in general. The steepness of the yield curve is largely priced in. It will not get much steeper. There could be a flattening risk but this depends on policy. If yields push up and central banks don't support, then banks could fall.

One of the most defensive plays you can have. He is overweight on energy. It is a trade and not an investment. The demand will probably quickly peak. The world is going green so it is tradable but not investable.

Educational Segment. Looking at fixed income's place in portfolios. In a balanced portfolio, based on tolerance, bonds are included. We are looking at a rate of 1.8% for Canadian bonds. However, inflation is 2%. The whole asset class has negative real yields. Government bonds are safety, and corporate bonds are the risk. The yield on high yield is the lowest it has ever been. However the yield does not compensate you for the risk you are taking. Emerging markets is where you will see real returns but risks are higher. There is a big problem in this asset class that has historically kept volatility in your portfolio lower.

Market. Economically people are optimistic. Things will get better next year. This is priced in, though. Sentiment is elevated. The first year of a recovery is accelerated and we are past that. At the start of COVID a lot of people went to the sidelines. The next two years will be more volatile. He expects the markets to be higher a year from now but there will be a rocky ride getting there.

He continues to hold but took a little money of the table because of a substantial move. It is space exploration plays. Their cap X spending will come down in the coming year. He thinks it is positioned right and is not extended. We need space data for so many uses. There is a growing use for it. For the longer term he thinks you should stay with it.