Q: First of all I'd like to commend you for the rational approach you're taking on this current meltdown in the financial markets. Many of your younger subscribers haven't had the experience of multiple crashes similar to this. I recall Black Monday (the crash of '87), the pop of the tech bubble in 2000, the 2008-2009 debacle, and so on. In that last one nothing was safe, even bonds and bank preferreds dropped. Keep up the good work. In the longer term I believe your advice will save people money.
Going into this I had slowly moved money into the U.S. market (mainly bonds) anticipating that the party was coming to a close and the Canadian dollar would also be heading down. This does not imply that I foresaw the Covid 19 pandemic or the Putin-Saudi hissyfit. Those two hit us all unexpectedly and I am down an appropriate amount. It was just that I felt it likely that a correction and recession was on the way. I believe you indicated that in the past in your answers.
Soon I expect it will be time to purchase some safe, value equities that will weather this storm and even profit from it. I'm thinking mainly of U.S. equities with large amounts of cash and a bright future. A healthy dividend would also be nice.
On my potential shopping list I've included Cisco which I already asked you about. What about Berkshire Hathaway? I've heard they have a vast amount of cash on hand and the U.S. dollar is considered a haven.
Another would be Blackstone (BX) in private equity. They've been hit hard yet interest rates are almost down to zero in the U.S. and Canada. Many potential targets will be distressed and money is cheap.
Would BAM in Canada fit these parameters as an aquirerer. They'd mainly be using Canadian dollars, however.
Finally, would an ETF of FANG stocks make sense?
Can you provide comments on any or all of this? I'm intending to start cautiously picking up half positions when I feel we're reaching a bottom. I'd be poorly paraphrasing Napoleon here but I think he said something like "When I'm up to my butt in trouble, I make haste, SLOWLY.
Going into this I had slowly moved money into the U.S. market (mainly bonds) anticipating that the party was coming to a close and the Canadian dollar would also be heading down. This does not imply that I foresaw the Covid 19 pandemic or the Putin-Saudi hissyfit. Those two hit us all unexpectedly and I am down an appropriate amount. It was just that I felt it likely that a correction and recession was on the way. I believe you indicated that in the past in your answers.
Soon I expect it will be time to purchase some safe, value equities that will weather this storm and even profit from it. I'm thinking mainly of U.S. equities with large amounts of cash and a bright future. A healthy dividend would also be nice.
On my potential shopping list I've included Cisco which I already asked you about. What about Berkshire Hathaway? I've heard they have a vast amount of cash on hand and the U.S. dollar is considered a haven.
Another would be Blackstone (BX) in private equity. They've been hit hard yet interest rates are almost down to zero in the U.S. and Canada. Many potential targets will be distressed and money is cheap.
Would BAM in Canada fit these parameters as an aquirerer. They'd mainly be using Canadian dollars, however.
Finally, would an ETF of FANG stocks make sense?
Can you provide comments on any or all of this? I'm intending to start cautiously picking up half positions when I feel we're reaching a bottom. I'd be poorly paraphrasing Napoleon here but I think he said something like "When I'm up to my butt in trouble, I make haste, SLOWLY.
