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The question was on Canadian banks and which one would he favour. The banks reported phenomenal results with the Bank of Nova Scotia being the most impressive. National Bank and RBC have done a good job in the capital markets. Overall it is difficult to find a differentiation between the banks. Their capital ratio is still elevated which means they can deploy the excess. There are no issues of credit - the banks have been prudent in their lending operations. He is impressed with the Bank of Montreal which has been understated. Buy the banks as a group and trade as a group.

As oil prices go up, Boeing goes down. Maybe consider at $200.

He compared crude oil futures and CPI US charts. When oil rises, so does CPI and both decline together. Now, the US-Iran is a maor inflationary factor. Add to that less globalization as Trump tariffs the world. The new US base inflation rate will be higher than the targeted 2.0%, like 2.5-3%. It will be tough to reach 2%. The street bets that there's a 51% chance that the Democrats will win the Senate, though likely the Dems will take the lower House without problem. He predicts Trump will stop Iran from having nuclear weapons, which could be ugly but temporary. He's looking at the the WAR and JEDI and XAR ETFs for defence as trades. In a lame desk presidency, Congress will spend less and slower economic growth. This is positive to manage the deficit, help interest rates to decline and for bonds, more than for stocks.