US/Nasdaq have been a sh!t show vs Canada. For context TSX is actually up 8% on the year (some weakness recently), Dow/S&P500/Nasdaq flat to down 8%. Thank you boring Canadian oil&gas, telecomms (that own Leafs, Habs), mining companies. Investors finally waking up as to why all these BS companies like Netflix, Fakebook, Uber, Amazon, Shopify all trading at insane OVERvaluations, magnitudes worse than a Yorkville condo. C$ is down though roughly around the time of last interest rate announcement since our wonderful BoC governor Tiff admits "oh I may have underestimated inflation over the last year ", down from $0.80 to $0.78 in about 10 days - a HUGE move if you're a foreign exchange trader. Not to mention US, Mexico vacations more expensive. If any more weakness, go defensive, not buying anything American as our C$ is/will be weakening and loading up on these boring ETFs: ZWU (basket of Canadian utilities, pays 7.2% dividend), ZWC (a group of diversified Canadian dividend payers, paying around 7%), ZWB (a group of Canadian banks paying around 5.3% dividend). No exchange rate worries (from a two party spend spend spend government). You can buy these for about 0.55% management fees and a $9.95 trading cost in your online account rather than going to an advisor or mutual fund and they charge you 2%. You're way more liquid and can hit the sell button anytime for another $9.95 fee. Not bad places to "park".
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