The Dow continues to set records this week, but we Canadians aren’t feeling the love on our statements given the rising loonie. Our US picks have climbed as a whole, confirming that our diversification into the US economy is prudent. Foreign exchange is difficult to predict and hiding in Canadian stocks is a risky proposition given the lack of industry diversification available on the TSX.
We continue to feel confident in holding US securities and are currently adding given an 80 cents loonie. If the Canadian dollar starts to reverse, we could see a rapid pop on our US names.
My wife prepaid the hotel for our December trip last week and you should do the same.
Have a great long weekend!
Daniel Popescu CFP, CIM, FMA, FCSI
President & CEO
MNP Tower, 3100-1021 West Hastings St.
Vancouver, BC V6E 0C3
T: 604-558-6830/1(877) 588-6822
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