Investment Q&A

Q: Do you have any thoughts on how the Federal budget next week might affect Canadian stocks in general or specific stocks or sectors?

Q: From a technical standpoint, I see that NWC had been within a fairly consistent rising 18-year stock price channel. Roughly May 2024, the price shot above the upper resistance of that channel and has been above that (rising) line ever since.

Question: Do you know of any fundamental change at the company that would justify the elevated stock price since May 2024? Were there some sort of positive changes within the company?

Q: Good Day,

Michael asked a question on Oct 27 re: bubbles, and the financial post article you referenced as the answer is behind a paywall.

 Could you discuss some of your thoughts on what position you see the markets in with respect to a bubble?  I'm not sure if it's just that I've positioned myself (with 5i and the 5i forums' help) so well to capitalize on this years themes, but watching my investment accounts' total value rise like it has seems unsustainable.

Is gold flying because many are thinking the same?  Is it a good time to position for a correction/bear/recession?

Would "positioning defensively" consist of moving weighting to the income portfolio names (if it were you)?  Are there any other names you would add to (Non O&G/Financial, I'm flush there)?  

Thanks for helping us all navigate this wild ride!

James

Q: I am wondering about the Direct indexing strategy: Buying a canadian or US index and harvest the tax loss on declining stocks and replacing them by buying similar company's stocks.

For the last 10 years, could that strategy be worth it? And what would be the optimal dependent variables like loss threshold, tax brackets, etc.?

Thanks as always for your great expertise and services

Q: I'm anticipating a short term market correction. What Canadian listed ETF would you recommend to for an inverse or short position on the TSX as a hedge again a market downturn.

Q: In a world marked by tariffs, volatility, widespread high debt, and a weak Canadian economy, what are the best 11 sector allocations for retired conservative investors? Thank you

Q: Hello 5i, If Trump loses the Supreme court tariff case, how would affect my investments, what would be the short vs long markets behaviors. What would be the best outcome for an investor.
thanks

Q: The plunge in gold on Friday, followed by another today, have coincided with a steep plunge in the TSX on both days. Do we have any idea just how much of the outperformance of the TSX this year is due solely to metals, especially precious metals? Obviously a lot, since the TSX is now underperforming the S&P this month.

Q: Dear Peter:

On surface this looks like a simple and even a "dumb" question. However I am struggling with this question as it impacts on not just my portfolio but almost everyone's!

What is a Bubble? Are there any acceptable definitions of a "Bubble"? Is Bubble a Technical Analysis based concept or a Fundamental Analysis based concept? Do they share any similarities? Is a Bubble applicable to all of the market or is it confined to just one domain? (Gold is in a Bubble but not Silver, not yet) Finally is the definition of a Bubble Static or Dynamic phenomenon? In other words what was a Bubble in 2000/2001 (dot com Bubble) is NOT a Bubble now!(AI phenomenon?)

Financial media gives a lot of opinions filled with "hyperbole"! "Sell now" we are in a Bubble! Others say, "No, wait till Gold hits 6000"!

It is important as one needs to sell or add in a prudent,well thought out and rational manner. Hence this question.
If you think this behooves not an answer but an article, so be it. I will wait! No problems.

Q: Hello Team 5i & Everyone,

Based on the metrics you watch, in your best estimation, do you feel that the US markets are in late cycle?

I’ve seen that there’s a “debate” that we’re either late cycle of this current run since the 2022 lows, or we’ve started a new cycle since the April 2025 low. Time will tell.

Thank you!

Sandra

Q: How do you view the current macro environment with respect to indicators that you follow. With the 20% spike in the VIX, do you view risk as elevated in the near term?

Q: I would be very interested in 5i’s take on this NYT article. I try to stay away from the fear mongering, be wise and buy/hold good companies. I trust 5i after being a member from the beginning, and always come back here for an opinion, because there are too many opinions out there, and a person has to land somewhere or it’s too hard to navigate. I think we can all agree there is a correction coming sometime, and likely it’s necessary, but a 1929 type event? Please offer your ideas. Thanks! https://www.nytimes.com/2025/10/13/magazine/investing-private-equity-crypto-crash-1929.html?smid=nytcore-ios-share&referringSource=articleShare

Q: What is your opinion on the recent statement by the IMF that markets could be headed for a disorderly correction given the current trade wars, increasing government debt, increased geopolitical tension and other risk factors?

Thanks Tim

Q: https://theconversation.com/todays-ai-hype-has-echoes-of-a-devastating-technology-boom-and-bust-100-years-ago-265492 How might one counter in their portfolio the risk of AI causing a market risk like electricity did in the great depression?

Q: Hi: it’s obvious that AI has boosted the market to new heights. My hypothetical question is, if AI was taken out of the equation, how well has the market performed over the last several years?

Q: What is your current assessment on American intentions to effectively take over Canada by economic dismantling? It isn’t clear to what extent Canada will be able to withstand current tariff barriers and effectively ‘fight back’ for its own interests.

Q: How do you approach a market like one we are in now? We have gone pretty well straight up since the April lows with a lot of names having increased substantially.

If one is almost fully invested right now but has new money to put to work. Do you hold off putting new money to work until a correction? Do you start to raise a little cash and take some profits on the nice run (5-10%)?

Q: I am sitting on cash to invest. I have been thinking about waiting until the US and China at least come to a "partial agreement" on trade. So that we have some certainity around that and how companies can move forward. I understand there are many points on both sides to negotiate and a "final deal" could take a long time or the other issues NOT able to resolve in an agreement. What advise would you have about investing the cash now or should I wait for a partial agreement? Or should I invest now but stay out of the US stock market? Your input would be appreciated.

Q: Good morning 5i
I have done well in the past few years, as I have been close to 100 percent equities. With the time horizon shortening, however, and less time to recover from a downturn, I am considering a higher percentage of fixed income. Currently, I have a large amount of US cash. I have been fearful of the US dollar falling, and have been wondering whether I should convert those dollars into Canadian in order to buy fixed income?
Thanks

Q: Everyone, were do you see the markets going in the next three months? Clayton