The stories and pictures of the damage left by Hurricane Fiona are devastating. I’ve been speaking with friends and colleagues right across the Atlantic provinces and it’s clear that the news stations just can’t capture the true devastation felt in the most impacted communities.

As many of you know, Craig Priddle, my business partner, is from Port-Aux-Basques and is there at present helping out family and friends with the recovery efforts. It’s funny how these type of events can leave one out of sorts. I normally can’t speak of Craig without making fun of him and tossing an innocent insult, but on this occasion I found myself speechless as he saw his hometown be destroyed.

Though my mind is elsewhere, I do have to speak about the destruction in stock markets as well. The selling continues and the damage in investor portfolios is mounting. Markets are seeking a level of clarity as it assesses inflation. This will be a tricky month as we have some big dates on the calendar. We have a major options expiration date on October 21, the FOMC interest rate meeting on Nov 3rd and finally, the US Mid Term Elections on Nov 8. I remain positioned to precious metals and low P/E stocks for rebound as the market appears near-term overdone. I’ll be looking to raise more cash again into any short term strength.

The next 30 days could be very volatile in both directions. This storm in the market will pass just as Fiona did. My job is to provide shelter to your portfolio as the storm passes through and not leave you feeling – as Craig would say – “’elpless in han ‘orrible situation” – ok, maybe I’m coming around.