Multi-Asset Diversification (2/21/19)

While we think PH stocks will continue to be tradeable and that they'll move higher, we also think it's prudent that you
start diversifying your portfolio and familiarizing yourself trading global markets.

So what are we seeing in the FX market, @team? (3/25/19)

1. Broad-based weakness in the Canadian and Aussie dollars.

2. Strengthening in the Kiwi and British Pound.
3. Safe haven flows into the Swiss Dollar and Japanese Yen.
4. Toppish US dollar.

Yen is stronger than the Swissie, but am not sure if the Yen will catch a stronger bid on a risk-off environment.

If risk-off sentiment persists, I would prefer Gold this time around.

As the global equity markets (including emerging markets and the Philippines) transition this year from a broad range to
a full-on bar, I'd like you to start exploring a multi-asset investment portfolio. There's just no escaping the fact that the
Philippines is a long only market and there's little to no money to be made when we go back to being bearish.

So while I do not expect any big drama this coming 2Q19, I am preparing for big volatility to come back by 2H19.

Let's use the time the market is giving us to prepare for opportunities offshore similar to the preparation we had last year
when we avoided the bear.