I have lived through many corrections but never one created by one person, so yes this one is different in that aspect. I can understand the policy the U.S. administration is trying to complete however it is the process in which they are doing it which is causing so much uncertainty.  The level of uncertainty is extremely high at the moment and hence all the volatility in the markets.  We have seen throughout the years the markets tend to overreact in the short term and this month has sure had some reactions both ways.  When the move of the day depends on a tweet it makes things extremely challenging for investors and sometimes the best thing to do is just not react too much either way as eventually this will work its way out and its always the fundamentals that drive markets.  We have lots of fear out there in regards to this leading to a recession, amongst other issues, that are brought up on a daily basis.

     It is a stressful time but it is not a crisis.  The positive being overlooked right now is this is a policy-induced stress which can change fast. There will be a resolution to the tariff situation and we are preparing for this.  The AI build out continues and will continue going forward. Electricity demand in the U.S. for data centers is around 4% and  due to increase to around 12% in 5 years - this is huge. Natural gas demand will not likely be declining due to this and the need for infrastructure remains very strong. The need for housing is still growing, even with the uncertainty that is present. This volatility will start to dry up and we will see the trends I just mentioned.  As well, maybe some other positives with the Artificial Intelligence build out will start to appear and we are always looking to strengthen the portfolio with solid companies who generate strong future value. No one said investing was fun but that which doesn’t kill us makes us stronger and I am still here.  I look forward to some more positive news as these current issues start to get cleared up.

     Have a great day and we will keep you posted on any new developments.