In the Money with Amber Kanwar

Bullish Brian Belski is back—and yes, he’s still bullish.In this episode of In the Money with Amber Kanwar, the CEO & Chief Investment Officer of Humilis Investment Strategies—fresh off launching his own firm—explains why he still believes the U.S. is the best stock market in the world, with Canada a close second. Belski makes the case for an earnings-driven market where stock picking, discipline, and long-term thinking matter more than macro noise. He also explains why he’s underweight the MAG 7, why U.S. banks look unfairly punished, why risks are building in private equity and private credit, and why that could create a major opportunity in small- and mid-cap stocks.He also addresses gold, saying while the rally has been impressive, he is neutral rather than overweight. His view: when gold’s performance gets this stretched, history suggests it tends to underperform in the years ahead—so investors should be cautious about chasing it here.In the mailbag, Belski breaks down Lululemon (LULU) as a former growth name now shifting into value, while explaining why he exited Nike (NKE). He also discusses agriculture and industrial exposure through Deere & Company (DE), Caterpillar (CAT) and AGCO (AGCO), along with housing via KB Home (KBH). He also weighs in on airlines including Delta Air Lines (DAL). On the Canadian side, he highlights TELUS (T.TO) as his preferred telecom name, pointing to its relative positioning within the group and long-term stability, while also calling out Canadian consumer strength—including why he loves Aritzia (ATZ.TO) as a long-term growth story.In Pro Picks, Belski sticks with high-quality, proven winners. He highlights Costco (COST) as a core long-term compounder, Alphabet (GOOGL) for its dominant platform and AI exposure, and Apple (AAPL) as a name to lean into when sentiment weakens. He also adds Spotify (SPOT) as a bonus idea.If you think this bull market is over, Belski says you’re missing the bigger opportunity.Timestamps00:00 Trailer 01:25 Intro 03:20 Brian Belski returns, this time after launching his own shop08:00 Brian’s investing approach at Humilis 10:00 Belski is still bullish, isn’t changing anything 13:30 Brian says the U.S. is the best stock market in the world, Canada is #216:10 Why Brian is underweight the Mag7 and what he’s buying 21:30 Brian is very negative private equity & credit27:00 An earnings driven markets29:20 Why Brian on gold and energy & Tesla34:00 ITM Mailbag: Lululemon stock (LULU)36:50 Agriculture stocks (CAT, DE, AGCO) 38:35 Telus & other telcos (T)40:20 Aritzia (ATZ)43:00 Delta Air Lines (DAL)45:30 KB Home (KBH) 49:30 Brian’s Pro Picks (COST, GOOGL, AAPL)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we talk about Meta, NIKE, CNQ, and Apple which are all stocks Amber owns. In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

The AI trade isn’t just about tech anymore — it’s about all stocks. In this episode of In the Money with Amber Kanwar, Kim Bolton, President & Portfolio Manager at Black Swan Dexteritas, argues we’re entering the next phase of the AI cycle, where the winners won’t just be the companies building the technology — but the ones using it to drive real earnings. As he puts it, investors need to rethink what a “tech stock” even is.Kim explains why this recent pullback in tech looks more like a healthy consolidation than a structural break, and why software could remain under pressure in the near term as enterprises experiment with cheaper, more flexible AI tools. The real shift, he says, is from AI “pilots” to full deployment — where companies embed AI directly into business units to boost productivity, cut costs, and grow profits. That’s where the next leg of the market will be decided — and why the next 6 to 18 months could separate hype from real earnings power.In the mailbag, Kim breaks down Microsoft (MSFT) and why he still sees it as a “screaming buy,” even as sentiment has cooled, and explains why Nvidia (NVDA) continues to dominate the AI stack with a near-monopoly in GPUs. He weighs in on Micron (MU), arguing demand for memory remains structurally strong despite recent volatility, and discusses Amphenol (APH) as a lesser-known platform-layer name tied to data centers that hasn’t quite reached his buy zone. On the more speculative side, he shares his cautious approach to quantum names like Xanadu (XNDU), preferring to wait through early volatility, and revisits Constellation Software (CSU.TO), where execution under new leadership will be critical. He also highlights Nebius (NBIS) as an under-the-radar AI infrastructure name he owns and continues to add to.In Pro Picks, Kim focuses on high-conviction names across the AI ecosystem: Lam Research (LRCX) as a key semiconductor equipment play tied to the buildout of AI infrastructure, Palantir (PLTR) for its ability to embed AI directly into enterprise operations, and Walmart (WMT) as a standout example of a company already turning AI into real productivity gains and margin expansion.Timestamps00:00 Trailer 02:20 Intro 06:10 How is this tech sell-off different than previous sell-offs? 10:50 What does it take for an AI stock to win? 15:00 Everything is an AI stock now: Tech vendors & end users 18:00 Maybe tech just isn’t fashionable right now? 20:40 Taking money out of tech vendors and putting it into tech end users 23:30 Walmart trades more expensive than Meta 25:40 ITM Mailbag: Microsoft stock (MSFT) 31:20 Micron stock (MU) 35:40 Amphenol stock (APH) 37:30 Xanadu Quantum Technology (XNDU) 40:15 Constellation Software stock (CSU) 44:40 Nebius stock (NBIS) 46:40 Kim’s Pro Picks (LRCX, PLTR, WMT)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss Microsoft, Constellation Software, Micron and Meta which are all stocks Amber owns. In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

What happens when the war ends — and what is the market getting wrong right now? Peter Boockvar, Chief Investment Officer at One Point BFG Wealth Partners, joins In the Money with Amber Kanwar to break down what he sees as some of the most mispriced trades in global markets. From oil to gold to global equities, Boockvar argues that investors are too focused on short-term geopolitical moves — and missing the bigger structural shifts already underway.He explains why even if the war de-escalates, oil prices are unlikely to return to pre-war levels, laying out the case for a higher floor driven by supply risk, global stockpiling, and a world that’s rethinking energy security. From there, he expands the conversation to a broader commodity bull market — including gold’s evolving role as a global reserve asset, as well as fertilizer and other critical inputs that could be underappreciated. He also explains how this all fits into a larger shift toward global markets and real assets.At the same time, Boockvar warns that some of the most crowded trades may be losing leadership. He breaks down why the AI trade could be entering a new phase, why mega-cap tech like NVIDIA (NVDA), Microsoft (MSFT) and Meta (META) are facing growing pressure around capex and margins, and why investors should be cautious extrapolating past returns. He also highlights risks building in private credit — an asset class he says has yet to be properly stress-tested — and why its expansion into retail investors could create vulnerabilities if the cycle turns.In Pro Picks, Boockvar shares how he’s positioning for what comes next — focusing on commodities and real assets, specifically fertilizer stocks, as well as global opportunities tied to emerging market local currency bonds, with a way to play it through the VanEck J.P. Morgan EM Local Currency Bond ETF (EMLC). He also points to consumer staples as his personal “pain trade,” calling out Kraft Heinz (KHC) and Conagra Brands (CAG) as areas that could surprise investors.Timestamps00:00 Trailer02:30 Intro05:10 As easy as war over, markets higher?06:40 $80 oil is the new $6009:25 Oil stocks will pullback but do well at $80 oil10:50 Gold still in a bull market but gains will slow15:00 Getting global exposure18:10 The tech question & capex concerns 25:10 Concerns about private credit34:40 Rates, central bank influence & bonds41:10 Why did defence pull back when the war started?42:30 Peter’s Pro Picks (fertilizer, consumer staples, local currency bonds)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

The nuclear story has completely flipped — and according to Cameco CEO Tim Gitzel, this is now the strongest market he’s seen in over 40 years.In this conversation on In the Money with Amber Kanwar, Gitzel explains why uranium and nuclear energy have gone from a post-Fukushima downturn to a full-scale global comeback. He walks through the turning points — from the shutdown of Japan’s reactors and a decade-long bear market, to today’s surge driven by climate goals, energy security concerns, and rising geopolitical tensions. As countries rethink their dependence on foreign energy and fragile supply chains, nuclear power is moving back to the center of the global energy mix.The discussion also dives into Cameco’s transformation from a uranium producer into a more vertically integrated nuclear player, including its major stake in Westinghouse alongside Brookfield Asset Management. Gitzel explains how that deal positions the company to benefit from a massive global buildout of reactors — including a landmark $80 billion commitment from the U.S. to expand nuclear capacity.Finally, Gitzel breaks down the next wave of demand: AI and data centers. With electricity needs set to surge, he explains why nuclear’s reliability, long lifespan, and energy security advantages are making it increasingly essential — and why this cycle could look very different from anything the industry has seen before.If this cycle plays out as expected, nuclear won’t just be part of the energy mix — it could become the backbone of the next era of global power.Timestamps02:25: Intro04:50: Best environment for nuclear in over 40 years06:15 Tim Gitzel’s path to Cameco CEO08:30 Fukushima and what’s happened since12:35 What kept Gitzel at Cameco through the lean years?13:45 The new commitment to nuclear power14:50 Cameco’s stake in Westinghouse18:30 Cameco’s partnership with the U.S. government 26:20 Rumours that the U.S. is also working with competitors + cost overrun concerns30:35 ATB Cormark Capital Markets31:05 Cameco in Canada34:00 The war in Iran & impact on nuclear36:35 AI, data centres & nuclear 42:00 Succession planning & Tim’s legacy44:00 Does it all go away if there’s another accident? SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney ETF Minute is sponsored by BMO ETFs. For more information on BMO’s Asset Allocation ETFs visit: https://bmogam.com/ca-en/products/exchange-traded-funds/asset-allocation-etfs and for more information on BMO’s All-Equity ETF visit: https://www.bmogam.com/ca-en/products/exchange-traded-fund/bmo-all-equity-etf-zeqt/Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.BMO Disclaimer The ETF Minute is sponsored by BMO Exchange Traded Funds. Amber Kanwar is compensatedunder this arrangement by BMO ETFs.This video is for information purposes only. The information contained herein is not, and shouldnot be construed as investment, tax or legal advice to any party. Particular investments and/ortrading strategies should be evaluated and professional advice should be obtained with respectto any circumstance.Commissions, management fees and expenses all may be associated with investments inexchange-traded funds. Please read the ETF Facts or prospectus of the BMO ETFs beforeinvesting. The indicated rates of return are the historical annual compounded total returnsincluding changes in unit value and reinvestment of all dividends or distributions and do not takeinto account sales, redemption, distribution or optional charges or income taxes payable by anyunitholder that would have reduced returns. Exchange-traded funds are not guaranteed, theirvalues change frequently and past performance may not be repeated.For a summary of the risks of an investment in the BMO ETFs, please see the specific risks setout in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value andmay trade at a discount to their net asset value, which may increase the risk of loss.Distributions are not guaranteed and are subject to change and/or elimination.BMO ETFs are managed by BMO Asset Management Inc., an investment fund ma

Dividend growth is supposed to be the safe corner of the market — but what happens when geopolitics, inflation shocks, and an evolving AI trade collide all at once?In this episode of In the Money with Amber Kanwar, Amber sits down with Amritha Kasturirangan, Co-Lead Portfolio Manager of the Franklin U.S. Rising Dividends Fund at Franklin Templeton, to break down how she’s navigating markets in a time of war. Running a $30 billion strategy built on dividend growth, she explains why she’s not chasing yield — but instead using consistent dividend growth as a signal of resilient, high-quality businesses that can hold up through uncertainty.The conversation dives into how the market narrative has shifted from early-year optimism to geopolitical anxiety, and what that means for investors. Amritha walks through her framework for thinking about the Iran conflict, why she believes markets may be overpricing worst-case scenarios in private credit, and how the AI trade is evolving beyond mega-cap tech into real-world productivity gains. She highlights companies like Walmart (WMT) and Goldman Sachs (GS) as examples of how AI is moving beyond infrastructure into productivity — a shift she sees as both healthy and investable. She also explains why this environment is creating opportunities — not reasons to panic — for long-term investors focused on quality and durability.In the Mailbag, Amritha breaks down Microsoft (MSFT) and why it remains a long-term winner despite the recent selloff, Nasdaq (NDAQ) and whether exchanges are truly at risk from AI disruption, Stryker (SYK) and why a recent cyberattack isn’t a reason to sell, D.R. Horton (DHI) and the long-term case for homebuilders despite rate pressure, and ExxonMobil (XOM) and how to think about energy stocks in the context of geopolitical shocks.In Pro Picks, she starts with Parker-Hannifin (PH), a self-help industrial story being re-rated as a long-term compounder with exposure to aerospace and defense. Next is Analog Devices (ADI), an under-the-radar chipmaker benefiting from secular trends like automation, EVs, and the Internet of Things. And finally, Ross Stores (ROST), an off-price retailer with a powerful “treasure hunt” model, improving execution, and a new growth flywheel driven by marketing and a younger consumer — all while continuing to deliver strong dividend growth.This is a playbook for investing when uncertainty is high: focus on resilience, stay disciplined, and use volatility to your advantage.Timestamps00:00 Trailer02:20 Intro 04:00 Franklin Templeton’s dividend growth strategy 06:35 Dividend growth in a time of war 10:10 Private credit & software challenges 17:25 How big is the private credit/equity problem? 20:45 ETF Minute: Hamilton’s QMVP22:15 ITM Mailbag: Microsoft stock (MSFT) 26:25 Walmart stock (WMT) 26:45 Nasdaq stock (NDAQ)31:10 Stryker stock (SYK)36:35 D.R. Horton stock (DHI) 39:25 Exxon Mobil stock (XOM)42:05 Amritha’s Pro Picks (PH, ADI, ROST) SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney ETF Minute is sponsored by Hamilton ETFs. To learn more about the HAMILTON CHAMPIONS™ U.S. Technology Index ETF, visit https://hamiltonetfs.com. Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The content provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss Microsoft which is a stock Amber owns. Hamilton ETFs DisclaimerThe ETF Minute is sponsored by Hamilton ETFs. This video is for general informational purposes only and not personalized investment advice. The index performance returns are for illustrative purposes only and are not indicative of the future returns of the ETF(s). The returns do not reflect any management fees, transaction costs or expenses. Investors cannot invest directly in an index.Certain statements contained in this video may constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as “may”, “wi

Markets are volatile again but is this sell-off creating the next generation of multi-bagger stocks? In this episode of In the Money with Amber Kanwar, Optimist Fund’s Jordan McNamee breaks down why he’s staying aggressively bullish despite market panic driven by AI disruption fears, geopolitical tension with Iran, and rising interest rate uncertainty.Jordan explains why today’s market setup may be even more attractive than 2022, highlighting how growth stocks and mid-cap equities are being mispriced despite improving fundamentals, rising earnings, and stronger profitability. He shares how his high-conviction investing strategy focuses on exceptional businesses with long-term upside, ignoring short-term volatility in favour of 5-year compounding opportunities and why market fear is often the best entry point for outsized returns.The conversation dives deep into key stock picks and sectors, including why he’s bullish on Carvana (CVNA) as a potential multi-bagger, his growing conviction in Uber (UBER) as a cash flow machine, and opportunities in beaten-down names like Wayfair (W), ThredUp (TDUP), Affirm (AFRM), Toast (TOST), Zscaler (ZS), Latham Group (SWIM), and First Advantage (FA). He also explains why he exited monday.com (MNDY), what he looks for in management teams, and how AI disruption is creating both risk and massive opportunity across software, fintech, and e-commerce.From buy now pay later trends and consumer weakness to housing market stagnation, interest rates, and shifting macro conditions, Jordan breaks down how he’s positioning his portfolio and why he’s actively rotating capital into the most mispriced opportunities during this sell-off. He also addresses short seller concerns around Carvana, the impact of fuel prices on Uber, and why hiring trends could drive upside in overlooked sectors.If you’re wondering how to invest during a market correction, where the next 5x stocks could come from, and how to think like a long-term investor in a short-term panic cycle, this episode is packed with actionable insights, high-growth stock ideas, and a clear framework for navigating volatility.Timestamps4:33 Jordan’s Investment Philosophy & 2025 Performance 9:03 Parallels to 2022 & Portfolio Management Style 16:01 Buying Zscaler and selling Monday.com (ZS, MNDY)23:02 2026 Buying Opportunity vs. 2022 24:08 Uber is a buy (UBER)28:55 Latham Group (SWIM)33:34 Affirm (AFRM)34:40 Teledyne (TDY)35:05 Pro Picks: Reviewing Carvana, HelloFresh and new ideas: ThredUp, Wayfair, First Advantage (CVNA, HFG, TDUP, W, FA)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

The world is entering a new era of commodity volatility — and the infrastructure that powers global markets may be overdue for a redesign. Josh Crumb, Founder & CEO of Abaxx Technologies, joins In the Money with Amber Kanwar to explain why he believes the next generation of commodity markets will look very different from the ones investors rely on today.Abaxx is building both a commodity exchange and a technology platform designed to modernize how physical commodities trade and settle globally. The company focuses on markets that have been historically underserved by traditional exchanges — including liquefied natural gas (LNG), battery metals, environmental products and precious metals. A key difference is Abaxx’s emphasis on physically deliverable contracts, meaning traders can take or deliver real commodities rather than simply trading cash-settled price indexes — a structure Crumb argues is critical for balancing supply and demand in increasingly volatile markets.Crumb, a former commodities strategist at Goldman Sachs who previously worked with the Lundin Group, explains why today’s geopolitical shocks — from LNG disruptions to energy security concerns — are exposing weaknesses in how commodities are currently traded. He argues that as the world moves from “just-in-time” supply chains to “just-in-case” inventories, companies will need more sophisticated ways to hedge physical risk across energy, metals and environmental markets.The company has attracted significant investor attention as it attempts to build that infrastructure. Abaxx shares have been volatile, rising sharply over the past year before pulling back, with the company still in the early stages of revenue generation as it builds liquidity on its exchange and expands its network of traders and banks. Crumb addresses the stock’s big moves, the elevated short interest, and why he believes investors should focus on the long-term milestones — including trading volumes, new product launches, and institutional adoption — rather than short-term share price swings.Beyond the exchange itself, Crumb explains the company’s ID++ technology, which aims to enable real-time movement of collateral using tokenized financial assets like gold or Treasury-backed instruments. The goal: allow markets to operate 24/7 while managing risk more efficiently than traditional clearing systems, potentially reshaping how institutional markets settle trades in the future.Finally, Crumb shares his views on the structure of the gold market, the future of LNG trading hubs, and why energy security — not just the energy transition — is now reshaping commodity markets worldwide.Timestamps00:00 Intro02:30 The market structure for commodities & a new exchange06:15 Addressing underserved markets like LNG & the physical delivery component 10:40 Has the business seen a boost after events in Iran? And how does the business evolve?13:50 The stock & business growth17:40 key milestones investors should be aware of 19:50 Abaxx’s cash position 21:35 What is the ID++ system?26:40 Is Abaxx ripe for a takeover?28:15 Commodity outlook & gold 31:00 Environmental markets & battery metals tradingSponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Recorded on March 5, 2026Canada’s banking system is often described as one of the strongest in the world — but even strong systems face real risks. Peter Routledge, Superintendent of Financial Institutions, joins In the Money with Amber Kanwar for a rare conversation about the health of Canada’s financial system and what still keeps the country’s top banking regulator up at night.Routledge discusses the key risks his office is watching closely right now — from rising U.S.-Canada trade tensions to vulnerabilities in Canada’s mortgage market. He explains how regulators think about household debt, refinancing risk, and the resilience of borrowers as higher rates work their way through the system. At the same time, he stresses that Canadian banks are entering this period from a position of strength and have ample capital to absorb shocks, a core reason he believes the system remains resilient.The conversation also explores emerging risks building outside traditional banking, including the rapid growth of private credit and private equity, areas where regulators are paying closer attention as banks deepen their exposure through financing, partnerships, and fund investments. Routledge also explains how OSFI is adapting supervision for a faster-moving financial world, why regulators are pushing institutions to strengthen resilience before problems emerge, and how capital buffers and stress testing help ensure Canada’s financial institutions can withstand unexpected disruptions.Routledge also reflects on his tenure leading Canada’s banking watchdog — which has two years remaining — and why he has actually grown more optimistic about the strength of the system during that time. Despite a more uncertain economic backdrop, he explains why he believes Canada’s banks and insurers are better prepared than ever to handle whatever comes next.Timestamps01:20 Intro03:40 How the regulator is thinking about the banking sector05:50 What is the key to the banks strength & safety?08:50 Bank fears around NAFTA 2.012:30 Risks in the mortgage market17:00 Defending the stress test24:30 Are the banks overcapitalized?27:10 OSFI’s Annual Risk Outlook28:30 Risks in private equity & private credit36:00 Increasing competitiveness in the banking sector 43:20 Why did the regulator green light consolidation?45:30 Peter’s thoughts on board responsibility48:00 How has Carney informed priorities?51:00 How Peter has evolved as regulator SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

The oil market has been rocked by escalating tensions in the Middle East, massive price swings, and a growing debate over whether the world is heading into a full-blown energy shock. In this special two-part episode of In the Money with Amber Kanwar, we bring you perspectives from both sides of the market.First, Josh Young, Portfolio Manager at Bison Investments, breaks down the crisis from the buy side, explaining why he believes the oil market was already tightening long before the latest geopolitical escalation and why the risk of a major supply shock is being underestimated. He walks through what could happen if disruptions in the Strait of Hormuz persist — including his view that if the strait were to remain closed for roughly 60 days, oil prices could surge to new all-time highs. Josh also explains why energy stocks may still have significant upside and how he’s positioning his portfolio to capture asymmetric opportunities in the sector. He also notes that higher global oil prices could be particularly positive for Canadian oil producers, which stand to benefit from stronger crude pricing and increased demand for secure supply outside the Middle East. In Pro Picks, Josh highlights Crescent Energy (CRGY), which he describes as a “Moneyball”-style operator buying and improving undervalued assets; Ensign Energy Services (ESI.TO), an oilfield services company he believes is being overly punished for its Middle East exposure despite strong free cash flow; and Journey Energy (JOY.TO), a small-cap Canadian producer he says still has meaningful upside driven by its Duvernay exposure and potential takeover interest.Then we shift to the sell side with Patrick O’Rourke, Managing Director, Institutional Equity Research at ATB Cormark Capital Markets, who explains how analysts and institutional investors are interpreting the crisis — with a particular focus on what it means for Canadian oil prices and producers. Patrick breaks down why crude volatility has been concentrated at the front end of the curve, why energy equities haven’t fully reacted yet, and how investors are trying to determine whether higher oil prices will last. He also explains how global supply disruptions are tightening Canadian heavy oil differentials, improving realized prices for Canadian crude, and increasing demand for barrels that can reach the Gulf Coast or Asian markets.From geopolitical risk to Canadian energy policy to the stocks investors are watching closely, this episode takes you inside the biggest debate in energy markets right now—whether this is just another oil spike or the beginning of a much larger structural shift.Timestamps00:00 Trailer02:20 Intro 04:40 The buy side view: How we could see $200 oil 07:30 What about demand destruction? 09:40 Shocking for the U.S. President to flat out lie 12:00 Implications for midterm elections 14:00 IEA releasing 400M barrels 16:15 Expectations for a premium in crude 18:00 Why aren’t energy stocks reacting? 19:45 Is Josh investing like oil is going to $200? 5X opportunities 23:00 Now Josh is more favourable to Canadian energy stocks 24:00 Josh’s Pro Picks (JOY, ESY, CRGY) 44:15 The sell side view48:00 Why haven’t Canadian oil & gas stocks responded 50:35 What would lead to a higher for longer oil price? 54:00 Implications for Canadian crude prices 57:00 Could production from Canada go any way to support the deficit? 58:20 What names are best positioned to ride out the volatility? SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney

Small caps are finally having their moment — and according to Greg Dean, Founder & Lead Investor at Langdon Equity Partners, the opportunity set may be bigger than most investors realize. In this episode of In the Money with Amber Kanwar, Greg explains why he focuses exclusively on global small-cap companies and how he searches the world for businesses that can potentially double over the next 3–5 years. He shares the disciplined framework behind his strategy, why he avoids highly leveraged businesses, and why volatility and market stress often create the best entry points for long-term investors.The conversation also dives into the big debate around software valuations and how the market is reassessing the long-term value of many tech companies. Greg walks through his view on the selloff in enterprise software and discusses what investors may be missing about durable software franchises. The discussion includes Constellation Software (CSU.TO) and why its acquisition-driven model and disciplined capital allocation have made it one of the most resilient compounders in the market.In the Mailbag, Greg weighs in on a wide range of stocks across sectors. He shares his perspective on TerraVest Industries (TVK.TO) and why its acquisition-driven model has created significant value but now trades at a premium. He discusses retailer Group Dynamite (GRGD.TO), a Canadian success story with strong same-store sales growth but a valuation that reflects much of the optimism. Greg also breaks down why he likes A&W Food Services (AW.TO) as a capital-light restaurant and royalty business with an attractive yield and steady growth. The conversation also touches on U.S. insurance distributor Goosehead Insurance (GSHD) and the debate around AI disruption, as well as Canadian financial names EQB Inc. (EQB.TO) and Dominion Lending Centres (DLCG.TO) and how the evolving mortgage and lending landscape could shape their outlook.For his Pro Picks, Greg highlights three high-conviction ideas he believes have strong long-term upside. First is YETI Holdings (YETI), where he sees a misunderstood brand expanding beyond drinkware into bags, coolers and international markets. Next is Royal Unibrew (RBREW.CO), a European beverage company producing and distributing beer, soft drinks and other beverages across several markets. Finally, he discusses Hypoport (HYQ.DE), a German fintech platform that connects banks and brokers through mortgage software and could see meaningful earnings growth as housing volumes recover.If the market rotation into smaller companies continues, Greg believes the real opportunity may be in high-quality small caps that investors have never heard of — but that could quietly compound for years to come.Timestamps00:00 Trailer 02:25 Intro05:20 Greg’s approach to investing & starting Langdon 06:50 The merits of investing in global small-caps 08:10 How does he think about the current tensions? 10:50 Fund performance 13:40 What criteria is Greg looking for? 15:20 Thinking about software 18:00 CSU & the new terminal value of software 21:40 ITM Mailbag: Terravest Industries stock (TVK) 25:40 Groupe Dynamite stock (GRGD)30:50 A&W Food Services (AW) 34:30 Goosehead Insurance (GSHD) 42:00 EQB Inc (EQB) 46:00 Dominion Lending (DLCG) 49:30 Greg’s Pro Picks (YETI, RBREW, HYG) SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss Constellation Software which is a stock Amber owns. In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #Canadian

The oil market just got a historic geopolitical shock — and Eric Nuttall says market complacency is creating a major opportunity in energy stocks.Geopolitics has jolted the oil market — but according to Eric Nuttall, the real story for investors was already unfolding long before the latest headlines. The Partner & Senior Portfolio Manager at Ninepoint Partners, joins In the Money with Amber Kanwar for an emergency session to break down the implications of the Iran crisis, why the market may be dangerously complacent about global oil supply, and why he believes energy stocks remain in a multi-year bull market. Eric explains why the widely anticipated oil “super-glut” never materialized, why U.S. shale production may have plateaued, and why long-dated oil reserves could become increasingly valuable in the years ahead. He also discusses why energy stocks have pulled back despite rising geopolitical risks and why patient investors could still see significant upside in the sector.Before getting to the Mailbag, Amber asks Eric about Strathcona Resources (SCR), a stock he says he bought this week. Eric explains why he’s attracted to the company’s long-life reserves and discounted valuation compared with larger peers like Canadian Natural Resources (CNQ). The purchase comes even after Eric opposed the company’s now failed bid to buy MEG Energy (MEG). He explains why he sees compelling value in Strathcona today and why companies with deep, long-dated reserves could benefit the most if oil prices rise.In the Mailbag, Eric tackles viewer questions starting with Baytex Energy (BTE), explaining why he doesn’t regret selling it and why the company’s recent rally reflects buybacks and a cleaner balance sheet after exiting the Eagle Ford. He then discusses Tamarack Valley Energy (TVE), where strong economics and improving results have driven a major run in the stock. From there he responds to a question on Logan Energy (LGN), warning that going too far down the market-cap spectrum can leave investors stuck in stocks without enough institutional buying power to drive a rerating. He then shares his thesis on Cenovus Energy (CVE) following its acquisition of MEG Energy (MEG), before turning to natural gas with Birchcliff Energy (BIR) and ARC Resources (ARX), where he explains why he’s currently less enthusiastic about Canadian gas. The Mailbag wraps with a blunt take on Surge Energy (SGY).In Pro Picks, Eric first reflects briefly on some of his past ideas on the show — including Veren (VRN), MEG Energy (MEG), and NuVista Energy (NVA) — all of which were ultimately taken out, though he says he would rather see the full investment thesis play out than rely on M&A. Today he shares three current high-conviction ideas: Whitecap Resources (WCP), Athabasca Oil (ATH), and Ovintiv (OVV). He explains why Whitecap remains his largest holding thanks to its long inventory runway and discounted valuation, why Athabasca’s deep reserve base could become increasingly strategic in a tightening oil market, and why Ovintiv’s cleaner asset base and aggressive share buybacks could drive a meaningful re-rating if the company attracts more long-term institutional investors.Timestamps00:00 Trailer02:30 Intro05:00 Iran war implications for oil 06:45 Domestically Trump needs lower energy prices09:45 Where do oil prices go?12:20 Why are energy stocks selling off? 15:00 What Eric saw in Saudi Arabia16:45 Why Eric was already bullish oil 22:00 Why Eric bought Strathcona (SCR) this week 27:00 Eric’s defence of the energy sector on parliament hill 31:00 ITM Mailbag: Baytex stock (BTE)33:30 Tamarack Valley Energy stock (TVE)35:00 Logan Energy stock (LGN) 37:50 Cenovus Energy stock (CVE)39:30 Birchcliff Energy stock (BIR)42:00 Arc Resources stock (ARX) 44:00 Surge Energy (SGY) 46:00 Eric’s Pro Picks ( WCP, ATH, OVV)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss Canadian Natural Resources and Tamarack Valley Energy which are both stocks Amber owns.In the Money delivers expert stoc

Small-caps are outperforming. Software stocks are getting crushed. Is this the great rotation? On this episode of In the Money with Amber Kanwar, Andrey Omelchak, President, CEO & CIO at LionGuard Capital, breaks down one of the biggest shifts happening in markets right now. As AI fears hammer software valuations and once-untouchable names get cut in half, small and mid-cap stocks are quietly catching a bid. Andrey explains why he believes the market has overreacted in parts of software — but also why select small caps, defense plays, and “Build Canada” beneficiaries may offer stronger risk-adjusted returns from here.He shares how he’s thinking about geopolitics, rising oil prices, gold as a safe haven, and why defense spending is becoming one of the most obvious long-term investment themes. At the same time, he argues that today’s short-term market mindset is creating major inefficiencies — particularly in overlooked Canadian small caps.In the mailbag, we tackle the AI disruption debate head-on with a look at major software names including Thomson Reuters (TRI) and Constellation Software (CSU), plus small-cap tech like Docebo (DCBO) and Kneat.com (KSI). Are these sharp drawdowns buying opportunities — or signs of structural change? Andrey also weighs in on engineering and infrastructure firms WSP Global (WSP), AtkinsRéalis (ATRL) and Stantec (STN), battery manufacturer Electrovaya (ELVA), healthcare roll-up WELL Health (WELL), fintech lender Propel Holdings (PRL), and GoEasy (GSY). Which names are unfairly penalized — and which still carry real risk?In Pro Picks, Andrey highlights Calian Group (CGY), a defense and cybersecurity player benefiting from rising NATO and Canadian military spending; Bird Construction (BDT), a direct “Build Canada” infrastructure beneficiary with a rapidly expanding, higher-quality backlog; and Canaccord Genuity Group (CF), where he sees meaningful upside from a capital markets recovery and potential monetization of its UK wealth business.Is this the beginning of a lasting market regime change — from software dominance to small-cap opportunity — or just another bout of AI-driven volatility?Email us your questions @inthemoneypod.com and don’t forget to subscribe so you never miss an episode.Timestamps02:20 Intro05:00 Andrey’s approach to small-cap investing06:20 Investing through geopolitical events 08:40 There appears to be sustained interest in the small-cap sector10:30 Has the small-cap space gotten too expensive?11:20 The biggest repricing of SaaS companies14:50 ITM Mailbag: Thomson Reuters & Constellation Software stocks (TRI, CSU)22:20 Docebo & Kneat.com stocks(DCBO, KSI)24:45 Is it easy to find a software short right now? 27:00 Stantec, AtkinsRealis, WSP Global stocks(STN, ATRL, WSP)29:35 Electrovaya stock (ELVA)34:40 Build Canada as an investable team 36:50 WELL Health stock (WELL)40:50 Propel Holdings (PRL)46:15 Andrey’s Pro Picks (CGY, BDT, CF)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The content provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss Constellation Software and goeasy which are both stocks Amber owns. In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

“I hate this market. It’s funny because we are strongly outperforming, but I still don’t like this market.”That’s how dividend investor Rebecca Teltscher, Portfolio Manager at Newhaven Asset Management, sums up today’s market on this episode of In the Money with Amber Kanwar. Value is working. Dividend stocks are back. Utilities, pipelines and energy have seen major inflows. And yet, Rebecca says this is one of the hardest environments she’s seen to deploy capital, with sectors moving quickly from unloved to fully valued.Before we get to the Mailbag, Rebecca explains why she’s staying patient in TELUS (T.TO) despite dividend concerns and a leadership transition, why long-held positions like Manulife (MFC.TO) have rewarded disciplined dividend investors who reinvested through volatility, and why she believes fixed income currently offers limited real returns relative to dividend-paying equities. With bond yields compressed and volatility creeping into the rate market, she argues dividend stocks have effectively become the new “safe haven” — even if the easy money has already been made.In the Mailbag, we begin with the Canadian banks, including BMO (BMO.TO) and TD (TD.TO). Rebecca admits she was wrong last year not adding more exposure as the banks rallied, but says she now wants more clarity on the Canadian economy and the trajectory of loan-loss provisions before committing new capital. She then discusses consumer lender goeasy (GSY.TO) and why subprime credit risk doesn’t align with her capital-preservation philosophy. From there, she weighs the valuation debate around Dollarama (DOL.TO), breaks down the ongoing challenges in office real estate including Allied Properties (AP.UN), revisits the credibility issues and dividend reset at Northland Power (NPI.TO), analyzes Brookfield Asset Management (BAM) versus Brookfield Corp. (BN), and closes with energy producer Whitecap Resources (WCP.TO) and the sustainability of its dividend in a volatile oil environment.In Pro Picks, Rebecca begins by revisiting her past ideas — including her long-time favourite Canadian Natural Resources (CNQ), along with Premium Brands (PBH.TO) and AltaGas (ALA.TO). On CNQ, she explains why its balance sheet strength, capital discipline and history of never cutting its dividend make it a core long-term holding she plans to own for decades. She then shares where she’s putting money to work now: CAE (CAE.TO) for its long runway in civil aviation and defense training, Algonquin Power & Utilities (AQN.TO) as a utility turnaround with new management credibility, and ARC Resources (ARX.TO) as a natural gas name with embedded growth and optionality.Timestamps00:00: Show trailer 02:30 Intro 04:30 Rebecca was right about value stocks over the past year 06:20 Can investors kick their addiction to tech for more than just a short while? 07:30 Can Rebecca bring herself to look at software? 10:15 Why Rebecca holds on to the telcos like Telus (T) 15:00 Why Rebecca considers herself a retail investor 16:30 Is the value sector becoming expensive? There’s been a sector rotation 19:00 Dividend stocks have become the new safe bet 20:50 How is Rebecca playing this expensive market? 22:45 ITM Mailbag: Canadian banks (BMO, TD) 28:50 goeasy stock (GSY)32:30 Dollarama stock (DOL) 37:25 Allied Properties REIT & the REIT market (AP.UN) 44:00 Northland Power (NPI) 49:15 Brookfield Asset Management (BAM) 51:20 Whitecap Resources (WCP) 54:30 Rebecca’s Past & Pro Picks (Past: CNQ, PBH, ALA, Pro: CAE, AQN, ARX)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss CNQ, Dollarama, goeasy, Telus, CIBC and TD which are all stocks Amber owns. In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY in

Is sustainable investing still relevant — or was ESG just a pandemic-era trade?On this episode of In the Money with Amber Kanwar we speak with Amber Fairbanks of Impax Asset Management to unpack the ESG backlash, the performance debate, and why she believes sustainable investing isn’t a label — it’s simply long-term investing done right. After years of inflows and hype, ESG has fallen out of favour, but Fairbanks argues the real opportunity may lie in focusing on durable secular trends, corporate culture, and risk management — not marketing buzzwords. From AI disruption to oil & gas exclusions, she explains where sustainability adds value, where it doesn’t, and why time horizon matters more than headlines.In the Mailbag, we tackle some of the most talked-about names in the market: Nvidia (NVDA) ahead of earnings and whether its AI dominance can continue; Salesforce (CRM) amid the SaaS scare; Tyler Technologies (TYL) — a beat-up software name she believes is worth considering given its deep government relationships; Boston Scientific (BSX) after its sharp drop on guidance; Intuitive Surgical (ISRG) in medtech; Novo Nordisk (NVO) following its stunning fall from grace; and Palo Alto Networks (PANW) as cybersecurity faces AI disruption. Which selloffs are an opportunity — and which deserve caution?In Pro Picks, Fairbanks shares three sustainable high-conviction ideas positioned for long-term secular growth. She highlights On Holding (ONON), the premium athletic brand capitalizing on the global wellness trend and expanding brand awareness; Bright Horizons Family Solutions (BFAM), the employer-sponsored childcare provider she believes is misunderstood after conservative guidance but poised to regain consistency; and Autoliv (ALV), the auto safety leader benefiting from rising global safety regulation and increased safety content per vehicle. Each reflects her disciplined focus on durable growth, competitive advantage, and corporate culture — core pillars of her sustainable investing framework.If you’ve been wondering whether ESG still delivers alpha — this conversation is for you.Timestamps00:00 Trailer02:00 Intro04:40 What does sustainable investing mean to Amber Fairbanks?06:10 The evolution of sustainable investing09:10 What’s on Amber’s checklist?12:30 The sustainability lens a long-term driver of outperformance15:00 Would Amber ever invest in oil & gas?17:40 We can’t look at the world the way we want it to be 17:20 The AI factor 20:40 The right questions to ask AI companies23:25 ITM Mailbag: Nvidia stock (NVDA)26:30 Salesforce stock (CRM)28:30 Tyler Technologies stock (TYL)29:30 Boston Scientific stock (BSX)31:55 Intuitive Surgical stock (ISRG) 34:30 Novo Nordisk stock (NVO)35:40 Palo Alto Networks (PANW)37:50 Amber’s Pro Picks (ONON, BFAM, ALV) SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The content provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

For years, U.S. markets felt unstoppable. Now the script is flipping.On this episode of In the Money with Amber Kanwar, Matthew Strauss, SVP, Portfolio Manager & Lead – Global Equities at CI Global Asset Management, makes the case for rotating into global and emerging market equities. After years of American dominance, Matthew argues that stretched U.S. valuations, crowded positioning, and a shifting growth differential are finally pushing investors to look abroad.Matthew, who has been investing in emerging markets since the 1990s, breaks down how the asset class has matured — from serial crises to more disciplined fiscal policy, freer-floating currencies, and stronger domestic growth engines. He explains why today’s emerging markets are no longer just export stories, why China, Taiwan, South Korea and India now dominate the field, and why widening economic growth differentials could support another year — or even two — of international outperformance.In the Mailbag, we globe-trot through investor questions on India where Matthew remains constructive long term but cautious near term given valuations and slowing flows. We discuss MercadoLibre (MELI) and rising competition from Amazon (AMZN) and Sea Limited (SE), why he exited Pop Mart (9992.HK) after peak Labubu growth, the activist push at Japanese toilet-maker Toto and what that says about the Japanese market (5332.T), and whether luxury giant LVMH (MC.PA) needs a stronger Chinese consumer before becoming attractive again.In Pro Picks, Matthew shares three high-conviction international ideas. First, Samsung Electronics (005930.KS), where he sees upside from high-bandwidth memory (HBM4) tied to the AI build-out despite lingering execution risks. Second, Alibaba (BABA), which he believes is evolving from a pure e-commerce story into a full-stack AI cloud infrastructure player in China. And third, Vista Energy (VIST), a fast-growing Argentine shale producer with improving well productivity, low break-even costs around $45 oil, and a disciplined balance sheet positioned to benefit from export-priced crude.And don’t forget: to vote on your favourite In the Money swag ideas head to: https://www.surveymonkey.com/r/XKGW2HT** A previous version of this episode included references to a short report about Reliance Industries and the Ambani family instead of the Adani Group and Adani family. We have removed the question from the episode. We regret the error.Timestamps00:00 Show trailer02:20 Intro04:40 What is different about emerging markets today vs. the 90s? 07:20 Forget about the BRICS acronym 09:50 Why are global markets performing better than U.S.? 12:50 Why haven’t tariffs dented global growth prospects? 14:00 Why Mag 7 are top holdings 17:50 Expects another year or 2 of global market outperformance22:05 ITM Mailbag: investing in India 28:00 MercadoLibre stock (MELI) 31:00 Pop Mart stock (9992 HKG)36:20 Toto stock (5332 TYO)39:00 LVMH stock (MC EPA)42:30 Matthew’s Pro Picks (Samsung, Alibaba, Vista Energy)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationCI Global Asset Management is a sponsor of this show. For more on CI Global Asset Management’s Emerging Market and Global Equity Funds head to: Emerging market (F series)https://funds.cifinancial.com/en/funds/mutual-funds/CIEmergingMarketsFund.html?classId=298&type=-1&redirect_type=class_id&currencySelector=1&cid=inthemoney_podcast_fnd-en_CIGAMIntheMoneyPartnership2026EM ETF:https://funds.cifinancial.com/en/funds/ETFS/CIEmergingMarketsAlphaETF.html?currencySelector=1&classId=482&redirect_type=class_id&cid=inthemoney_podcast_fnd-en_CIGAMIntheMoneyPartnership2026CI Global Equity Fund (F Series):https://funds.cifinancial.com/en/funds/mutual-funds/CIGlobalEquityFund.html?classId=298&type=-1&redirect_type=class_id&currencySelector=1&cid=inthemoney_podcast_fnd-en_CIGAMIntheMoneyPartnership2026Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The content provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.This episode features a portfolio manager from CI Global Asset Management which is one of our sponsors. IMPORTANT DISCLAIMERS: This episode of In the Money with Amber Kanwar w

AI was supposed to supercharge software. Instead, it’s threatening to disrupt it.Ivana Delevska, Founder & CIO of Spear Advisors, joins In the Money with Amber Kanwar to break down whether the brutal software sell-off is justified — or overdone. As hyperscalers ramp capex and next-generation AI agents get more powerful, investors are questioning which business models survive and which get left behind. Ivana explains why AI is no longer one broad trade, why valuation suddenly matters again, and where she believes the real opportunity now sits in the value chain.In the mailbag, Ivana tackles your biggest stock questions: Is the drop in Oracle (ORCL) a buying opportunity despite its leverage and OpenAI exposure? What does the reset in software mean for Constellation Software (CSU.TO)? After strong growth and free cash flow, did the market overreact to Shopify (SHOP)? Is Snowflake (SNOW) simply too expensive at current multiples? And what should investors do with Palantir (PLTR), Nvidia (NVDA), and Micron (MU) as the AI cycle rotates from chips to memory to infrastructure?In Pro Picks, Ivana begins by revisiting her past calls — including Constellation Energy (CEG), Nvidia (NVDA), and Marvell (MRVL) — explaining where she’s taken profits, reduced exposure, and why parts of the AI trade have shifted from offensive to defensive. She then shares where she sees the next leg of upside: Coherent (COHR) in optical networking, KLA Corp (KLAC) in semiconductor capital equipment, and Arista Networks (ANET) in AI networking — areas she believes can still compound strongly as the AI spending cycle moves deeper into hardware and connectivity.And don’t forget: to vote on your favourite In the Money swag ideas head to: https://www.surveymonkey.com/r/XKGW2HT Timestamps00:00 Show trailer02:05 intro04:00 What is happening to the AI trade?05:50 Is the sell-off in software overdone?08:00 Investors should look at the hardware value chain 11:00 Is the financing environment a risk? 14:00 These companies need to spend on capex 15:30 ITM Mailbag: Oracle stock (ORCL)17:20 Constellation software stock & Cloudflare stock(CSU, NET)21:30 Shopify stock (SHOP) 23:45 Snowflake stock (SNOW)25:35 Palantir stock (PLTR)26:50 Nvidia (NVDA)28:20 Micron stock (MU)30:45 Ivana’s Past (CEG, NVDA, MRVL) & Pro Picks (COHR, KLAC, ANET)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The content provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss Constellation Software and Micron which are both stocks Amber owns.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Biotech stocks were left for dead — written off after years of brutal bear markets, failed trials, rising rates, and policy shocks. But what if the sector is quietly waking up?On this episode of In the Money with Amber Kanwar, Amber sits down with Eden Rahim, Portfolio Manager at Next Edge Capital, to unpack why one of the market’s most volatile and misunderstood sectors may be entering a new bull cycle. Eden walks us through biotech’s “nuclear winter” — from the 2011–2015 boom, to rolling bear markets, to the post-COVID hangover that crushed even former darlings like Moderna. He explains why extreme capitulation readings — with companies trading below net cash and only 1% of stocks above their 50-day moving average — signaled a generational bottom. And since April, biotech has quietly been outperforming the S&P 500… without the headlines.But this is not a “buy the ETF and forget it” story. Eden breaks down why biotech is the ultimate stock-picker’s market, how he handicaps regulatory, clinical and commercial risk, and why he focuses on post-Phase 2 companies where the odds shift dramatically. He also addresses the new wild card investors must navigate: shifting FDA goalposts and regulatory uncertainty.In the Mailbag, Amber and Eden tackle stocks that aren’t exactly household names for most investors. They break down Sarepta (SRPT) and whether its dramatic collapse reflects broader gene therapy risks. They discuss WELL Health (WELL) and why the stock can lag even when analyst targets look optimistic. They also look at DRI Healthcare (DRI.UN), the pharmaceutical royalty company offering dividend-paying exposure to drug innovation, and whether its leveraged royalty model is a smarter way to get biotech-like upside with cash flow. Plus, they touch on why Canadian biotech companies often migrate south — and what that means for investors hunting for overlooked opportunities.In Pro Picks, Eden shares three high-conviction ideas: Alpha Cognition (ACOG), a newly approved Alzheimer’s therapy with improved tolerability and strong commercial runway; ClearPoint Neuro (CLPT), a brain-delivery platform embedded across dozens of gene therapy programs; and NeurAxis (NRXS), a small-cap device company targeting gut-brain disorders with expanding reimbursement tailwinds. Volatile, under-the-radar — and potentially early leaders in a new biotech cycle.And don’t forget to vote on your favourite In the Money swag ideas! Head to: https://www.surveymonkey.com/r/XKGW2HT Timestamps00:00 trailer 02:15 intro 04:50 What’s it been like to be a biotech investor in recent years? 07:10 What happened in the biotech sector? 08:50 Covid & biotech 11:20 How biotech is different from other sectors 15:50 Biotech has been outperforming the S&P 50017:50 It comes down to stock picking 23:10 The regulatory environment is now a wild card 31:50 ITM Mailbag: Sarepta Therapeutics (SRPT) 38:30 WELL health (WELL) 41:50 DRI Healthcare Trust (DHT.UN) 45:50 Eden’s Pro Picks (ACOG, CLPT, NRXS) SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.To explore BMO ETF tools, head to https://www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss Pfizer which is a stock Amber owns. In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Gold and silver have been rocked in recent weeks, so what should investors do now? According to Jonathan Wellum gold isn’t just a trade — it’s insurance. The President & CEO of ROCKLINC Investment Partners and former money manager to Canadian billionaire Michael Lee-Chin, joins In the Money with Amber Kanwar to lay out why soaring government debt, currency debasement, and rising geopolitical friction have pushed him to one of his most conviction-heavy stances yet: a portfolio anchored by gold, silver, and precious-metal businesses. Jonathan explains why this cycle still feels early despite the recent sell-off, how central-bank buying has reshaped the gold market, and why sharp volatility hasn’t shaken his long-term thesis.Drawing on decades of experience as a disciplined value investor, Jonathan explains why precious-metal royalty companies form the backbone of his exposure, offering cash-flow durability without the same operational risks as miners. He also walks through silver’s extreme swings, why supply deficits still matter despite violent pullbacks, and how electrification, AI infrastructure, and data-centre demand are quietly tightening metals markets — all while stressing that gold’s role in portfolios is protection first, speculation second.While precious metals are a core pillar of his strategy, Jonathan makes it clear he’s far from a one-theme investor. He also breaks down how he’s selectively allocating to insurance, industrials and global compounders — areas where valuations have reset and disciplined capital allocation still offers long-term upside.In the Mailbag, Jonathan weighs in on whether investors have “missed” the move in Wheaton Precious Metals (WPM), breaks down the upside torque in Agnico Eagle Mines (AEM) if gold prices stay elevated, and explains why royalty models continue to outperform through cycles. He also addresses volatility in silver-exposed names, comments on Cameco (CCO) amid the nuclear renaissance, and shares why he’s cautious about junior miners despite the temptation of leverage. He also fields questions on Berkshire Hathaway (BRK.B), Fairfax Financial (FFH), Markel (MKL), and Trisura Group (TSU). The discussion extends to technology names caught in the AI-driven selloff — including ServiceNow (NOW) and Thomson Reuters (TRI), and he also gives his take on Constellation Software (CSU) as he outlines how he separates true value opportunities from potential value traps.In Pro Picks, Jonathan shares three high-conviction ideas that reflect his diversified, valuation-driven approach. He highlights Carlisle Companies (CSL), a quietly dominant industrial with strong returns on capital; MercadoLibre (MELI), a leading Latin American e-commerce and fintech platform with years of growth runway; and Sprott Inc. (SII), a leveraged way to participate in a broad commodity and precious-metals cycle through asset management rather than direct exposure.To vote on your favourite In the Money swag ideas head to: https://www.surveymonkey.com/r/XKGW2HT Timestamps00:00 show trailer 02:10 intro 04:30 Jonathan’s history as a value investor 06:50 Following the Buffett rules 11:00 Debt problems & Why 25% of Wellum’s portfolio is in precious metals 14:00 Volatility in gold? We’re in the 3rd or 4th inning 18:10 Wellum explains his belief in gold 19:50 Silver is a wild, wild ride 23:00 What else is in the fund? 23:40 The bloodbath in software- what’s Jonathan buying? 30:30 ITM Mailbag: Wheaton Precious Metals stock (WPM)34:10 Agnico Eagle stock (AEM) 38:10 Cameco stock (CCO) 40:40 Berkshire Hathaway stock (BRK.B) 44:25 Fairfax Financial, Trisura, Markel, American Coastal Insurance Company (FFH, TSU, MKL, ACIC) 49:40 Constellation Software stock (CSU) 54:05 Jonathan’s Pro Picks (CSL, MELI, SII)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.To explore BMO ETF tools, head to https://www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss Constellation Software and Equinox Gold which are both stocks Amber owns. In the Money delivers expert stock picks, actionabl

Tech is starting to crack and value is outperforming. Where should you be positioned? On this special episode of In the Money with Amber Kanwar, the show heads to Phoenix, Arizona for a special on-the-road episode with Bill and Cole Smead of Smead Capital Management, the father-son investing team behind $5.5 billion in assets under management. In a wide-ranging and candid conversation, the duo explains why today’s market setup looks increasingly fragile and where disciplined value investors are still finding opportunity. Amber digs into Smead’s eight criteria for stock selection, how insider ownership and capital allocation drive long-term returns, and why years of crowding into passive strategies and the S&P 500 have quietly increased risk. They argue that the forces that powered years of U.S. outperformance — concentration, momentum, and passive flows — now look increasingly vulnerable. From the parallels between today’s AI spending boom and the telecom bubble of the late 1990s to their view that capital-intensive tech could face declining returns, Bill and Cole make the case that history may not repeat — but it certainly rhymes.The discussion also explores why international markets look more compelling than the U.S., how under-owned sectors like financials, healthcare, housing, and commodities could benefit from mean reversion, and why owning unpopular assets — and holding winners longer than feels comfortable — remains central to their approach.In the Mailbag, the Smeads tackle viewer questions and specific stocks across regions and sectors, including European banks Barclays (BARC) and UniCredit (UCG), healthcare giant Merck (MRK), and Canadian energy names Cenovus Energy (CVE) and Tamarack Valley Energy (TVE). They explain why scars from past cycles often create today’s best opportunities — and where investors should still be cautious.In Pro Picks, Bill and Cole share several high-conviction ideas that reflect their current positioning, including regional bank Fifth Third Bancorp (FITB), U.S. healthcare leader UnitedHealth Group (UNH), Canadian oil producer Strathcona Resources (SCR), and Canadian lumber company West Fraser Timber (WFG) — names they believe offer attractive long-term value supported by balance sheets, capital discipline, and structural tailwinds.Timestamps00:00 Show trailer 03:45 intro with father son duo Bill & Cole Smead04:10 U.S. & international exposure08:35 Are we seeing the end of U.S. outperformance?11:10 How has Smead Capital’s view evolved? Have they been bullish up until this spot?15:50 Why they are not as constructive on the S&P 500 17:20 Will 2026 be the year of the value investor? And what tech stocks do they own? 19:50 Are the Magnificent 7 the Nortel of this generation? It’s about Capex21:35 History doesn’t repeat itself but it rhymes 24:20 too many fools are chasing tech stocks, it will all change over the next decade29:50 What about commodities?34:10 ITM Mailbag: European Banks (BARC, UCG)37:55 Merck stock (MRK), Amgen stock (AMGN), United Healthcare stock (UNH)45:00 Homebuilder stocks (DHI, LEN) 46:20 Canadian energy stocks (CVE)49:00 Tamarack Valley stock (TVE)54:50 Bill & Cole’s Pro Picks (FITB, APA, UNH, SCR, WFG)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss United Health and Tamarack Valley Energy which are both stocks Amber owns. In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Investors are talking about a “sell America” trade — but is the U.S. really done, or is this just another moment where global diversification finally pays? On this episode of In the Money with Amber Kanwar, Amber sits down with Jeff Elliott, Managing Director and Head of Global Equity at BMO Global Asset Management, to break down how a bottom-up stock picker is navigating today’s volatile, policy-driven markets.Jeff explains why last year’s global outperformance wasn’t about abandoning the U.S., but about fundamentals — earnings growth, valuation discipline, and avoiding crowded trades. He shares how his team broadens exposure to Europe, emerging markets, and Canada without making top-down regional bets, and why portfolio construction matters just as much as finding the right stocks.Healthcare takes centre stage as Jeff draws on his deep sector expertise to unpack one of the most politically exposed — and misunderstood — areas of the market. He explains why policy noise can create sharp dislocations without permanently damaging businesses, and how active managers look for mispriced opportunities across pharma, biotech, and med-tech while others retreat from the sector.In the Mailbag, Jeff cuts through policy-driven volatility across several heavily debated names. He explains why Medicare Advantage headlines have punished UnitedHealth (UNH), why a low valuation and big dividend aren’t enough for Pfizer (PFE), and why Eli Lilly (LLY) still stands out for durable growth. He also weighs in on Moderna (MRNA), NVIDIA (NVDA), Samsung Electronics (005930.KS), and Western Alliance Bancorporation (WAL), showing how fundamentals — not headlines — ultimately determine where volatility creates opportunity.In Pro Picks, Jeff highlights three high-conviction healthcare ideas where he sees durable growth despite policy noise. He starts with Boston Scientific (BSX), explaining why its leadership in atrial fibrillation treatment and med-tech innovation continues to drive long-term opportunity. He also revisits Eli Lilly (LLY), outlining why its depth in GLP-1s and next-generation therapies gives it a stronger growth runway than peers. Rounding out the picks is UCB (UCB.BR), a lesser-known European biotech where Jeff sees a transformative drug pipeline that could meaningfully change the company’s growth profile over the coming years.If you’re trying to understand how to invest globally without chasing headlines — and how active stock picking really works when policy risk and volatility dominate — this is a conversation worth watching.Timestamps00:00 Show trailer02:10 intro 04:10 Everyone wants global exposure now 06:00 How geography matters to a bottoms up approach08:00 What about Europe? 10:30 Follow the fundamentals12:20 What does policy volatility mean for Jeff’s approach?14:30 The TACO trade & healthcare 17:30 ITM Mailbag: UnitedHealth stock (UNH) 25:00 Pfizer stock (PFE)29:30 Moderna stock (MNRA) 35:50 Nvidia stock (NVDA) & big tech 38:55 Samsung stock41:30 Bank stocks & Western Alliance Bank (WAL) 44:15 Jeff’s Pro Picks (BSX, LLY, UCB)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationThis episode is brought to you by BMO ETFs. Find out more about the BMO Global Equity Fund ETF here: https://bmogam.com/ca-en/products/exchange-traded-fund/bmo-global-equity-fund-active-etf-series-bgeq/Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss United Health, Pfizer and Eli Lilly which are all stocks Amber owns. In the Money delivers expert stock picks, market analysis, and timely investing insights. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers and financial experts. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

What if the biggest risk to the S&P 500 isn’t a recession, rates, or geopolitics — but the way we invest?Amber Kanwar sits down with Michael Green, Portfolio Manager & Chief Strategist, Simplify Asset Management , to unpack a provocative — and deeply unsettling — idea: under certain conditions, the S&P 500 could theoretically go to zero. Not because every company fails, but because market structure breaks.Green explains how the explosive growth of passive investing has quietly changed how markets behave, why flows now matter more than fundamentals, and how index-driven buying can amplify momentum on the way up — and instability on the way down. Drawing on his famously prescient call on the collapse of the XIV volatility ETF, Green walks through the math behind systemic “zero events,” why they become self-catalyzing, and why policymakers — not individual investors — ultimately own this risk.The conversation also dives into gold and commodities as flow-driven markets, the role demographics play in shaping inflation and asset prices, and why machines — not humans — may be the dominant drivers of future demand. Green lays out why electricity-hungry systems like data centers are reshaping commodity demand, why traditional “human food” commodities face long-term headwinds, and how structural shortages can quietly drive inflation higher.In Pro Picks, Green explains how these themes are expressed through ETFs managed by Simplify Asset Management. He walks through the Simplify High-Yield ETF (CDX) and how its structure emphasizes endogenous cash flow, outlines how the Simplify Managed Futures Strategy ETF (CTA) uses a systematic trend-following approach to navigate volatile, flow-driven markets, and discusses how the Simplify Commodities Strategy No K-1 ETF (HARD) is designed to capture broad commodity trends, including rising demand for machine-driven resources like electricity. He also breaks down the role of gold as a flow-dominated asset and explains how the Simplify Gold Strategy Plus Income ETF (YGLD) is structured to generate income while helping cushion downside through options.This is not a call to panic — it’s a framework for understanding the hidden mechanics shaping today’s markets, and the extreme tail risks most investors never consider.Timestamps00:00 show trailer 02:20 Show intro 04:00 How Michael became the anti-passive investing guy 09:00 A systemic risk lurking inside index funds 13:20 The story of XIV, why it failed and why Michael got it right 20:20 Is policy needed to fix the problem with passive? 22:20 The S&P 500 could theoretically go to zero 25:20 What do Michael’s well-known colleagues think about his view 27:00 But isn’t discernment alive and well in the market? 29:35 Gold, flows and why Michael isn’t focused on specific companies 33:20 Can investors get away from the systemic risk? 36:10 In 15 years half of the boomers will have passed on 41:20 How Michael developed his approach to markets 47:20 Michael’s Pro Picks (CDX, HARD, CTA, YGLD) SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

What happens when you strip away the hype and put some of the market’s most beloved stocks under a cold, analytical microscope? In this episode of In the Money with Amber Kanwar, Amber is joined by Sam LaBell, Portfolio Manager at Veritas Asset Management, for a brutally honest reality check on what investors own — and why some of those positions may be riskier than they look.Sam digs into how investors should think about today’s biggest macro risks, from tariffs and geopolitics to slowing growth and stretched valuations, and explains why owning “popular” stocks can quietly increase risk rather than reduce it.Sam also shares his view on gold, arguing that the rally still has legs as central bank demand and investor flows remain supportive — but that this stage of the cycle demands discipline, even as gold stocks remain undervalued despite a massive run.In the Mailbag, Sam weighs in on Barrick Mining (ABX) and whether activist involvement can unlock further value, Bombardier (BBD.B) after a massive run, and Fairfax Financial (FFH) — explaining why the stock was attractive when returns on equity were improving, but why softer insurance conditions and today’s valuation now change the risk-reward. He also walks through his evolving view on Constellation Software (CSU), where AI introduces long-term uncertainty investors can’t yet model, and shares his perspective on Canadian telecoms including Rogers Communications (RCI.B), BCE (BCE), and TELUS (T).Sam also explains why he’s short Shopify (SHOP) — not because the business is broken, but because expectations remain extreme and even a modest slowdown in growth could pressure the stock, making risk management essential.In Pro Picks, Sam shares three high-conviction names he owns in the portfolio: WSP Global (WSP), a global engineering and consulting platform positioned to benefit from long-term infrastructure spending; GE HealthCare (GEHC), a misunderstood healthcare spinout with growing AI and software potential; and Brookfield Infrastructure (BIP.UN), a defensive, cash-generating business with steady growth and one of the cleanest accounting profiles in the Brookfield universe.Timestamps00:00 Show trailer02:10 Intro05:50 Have we gotten to the point where we can ignore Trump’s threats?08:40 The U.S.-Canada relationship 10:40 U.S. exceptionalism is a global risk12:00 Does the gold rally still have legs? 15:00 Understanding the buy and sell side at Veritas Asset Management17:50 Stock picking is a lot like gambling18:20 Long and short strategies21:50 ETF Minute: BMO Growth ETF (ZGRO)23:00 ITM Mailbag: Barrick Mining stock (ABX)31:50 Bombardier stock (BBD.B)34:40 Fairfax Financial stock (FFH)39:40 Constellation Software stock50:00 Shopify stock 55:10 Rogers Communications stock (RCI.B)58:00 Sam’s Pro Picks (WSP, GEHC, BIP.UN)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.ETF Minute is brought to you by BMO ETFs. Head to https://www.bmoetfs.com to find out more about the BMO Growth ETF (ZGRO) Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions. In this episode we discuss Fairfax and Constellation Software- which are both stocks Amber owns.BMO DISCLAIMERBMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate. This ad is for information purposes. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance. Distribution yields are calculated by using the most recent regular distribution, or expected distribution, (which may be based on income, dividends, return of capital, and option premiums, as applicable) and excluding additional year end distributions, and special reinvested distributions annualized for frequency, divided by current net asset value (NAV). The yield calculation does not include reinvested distributions. Distributions are not guaranteed, may fluctuate and are subject to change and/or elimination. Distribution rates may

Prime Minister Mark Carney declared a new world order at Davos this week, what does that mean for your money? In this episode of In the Money with Amber Kanwar, Amber sits down with David Picton, CEO of PICTON Investments, Canada’s largest hedge fund, to unpack what a shifting global order means for investors.From the breakdown of the traditional 60/40 portfolio to the growing role of alternatives, Picton argues that investors are navigating a fundamentally different market regime. He explains why stocks and bonds no longer provide the diversification they once did, how inflation and massive fiscal spending are changing correlations, and why portfolio construction now matters as much as individual security selection. Picton outlines a He outlines his firm’s 40/30/30 framework blending equities, bonds, and alternatives for a more flexible, total-portfolio approach that treats assets as return streams rather than rigid categories — an evolution he believes is essential as volatility, policy uncertainty, and global fragmentation reshape markets.In Pro Picks, Picton highlights Rocket Companies (RKT) as a high-conviction idea that reflects his firm’s framework. He explains why Rocket’s scale, data advantage, and aggressive use of AI position it to benefit from consolidation in the U.S. mortgage market, especially as refinancing activity eventually returns and housing affordability becomes a political priority. As a bonus, Picton also discusses why his firm is increasingly cautious on big-cap technology, arguing that the easy phase of the AI trade is over and that selective short exposure may now play a role as winners and losers begin to separate.Timestamps00:00 Show Trailer02:00 Intro05:50 David Picton’s early journey07:25 Picton’s total portfolio approach and the importance of alternatives12:00 60/40 doesn’t work anymore, Picton’s is 40/30/3013:50 A new world order and new world investing order15:50 The reality of being a hedge fund manager17:30 Expect a broadening of the rally20:00 Picton’s investing outlook for 202625:10 Watching the bond market and where do investors go for a return?27:20 Gold & gold stocks32:00 Energy & energy stocks 33:15 Using hedging strategies35:20 Maybe there is some method to Trump’s madness 37:00 The sell America trade 40:00 More on Picton’s alternative strategy43:20 The real estate question44:40: Picton’s Pro Picks (RKT + bonus) SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

EQB was the worst-performing bank stock last year. A housing slowdown, a spike in provisions for credit losses, and the sudden passing of longtime CEO Andrew Moor left investors with a lot to digest. But in the banking sector, there’s an old market adage — “worst will be first” — the idea that last year’s laggard often leads the group in the following year. On this episode of In the Money with Amber Kanwar, Amber sits down with Chadwick Westlake, the new President & CEO of EQB. Westlake opens up about stepping into leadership during a moment of crisis, stabilizing the business, and resetting focus at a disruptive Canadian financial institution. Westlake explains what it truly means to be Canada’s Challenger Bank — from lending to self-employed Canadians, newcomers and entrepreneurs to taking a loan-by-loan approach to risk in a housing market which many investors fear is a systemic problem. Amber presses on the “mortgage cliff” of 2026, provisions for credit losses, and what EQB is modeling for unemployment and consumer strain. Chadwick outlines why the bank expects more volatility, why he sees cautious reasons for optimism later in 2026, and why EQB believes it’s positioned to navigate renewals differently with an average mortgage duration closer to two years. Then comes the blockbuster: EQB’s transformational deal to acquire PC Financial and become the exclusive financial partner of PC Optimum — a move that brings millions of Canadians into EQB’s ecosystem and reshapes the future of competition in Canadian banking. Westlake explains why scale matters, why challenger banks need urgency rather than complacency, and how this deal positions EQB to challenge the status quo. The conversation also digs into valuation, buybacks, and ownership concentration and what all that means for decision making and accountability. Finally, Westlake shares his candid views on Canada itself — arguing that the country needs to move faster and take greater ownership of its economic future. He speaks about productivity, competitiveness, and why Canadian businesses and policymakers must act with more urgency in a rapidly changing global environment. For Westlake, building a stronger challenger bank is inseparable from building a stronger Canada — one that competes, innovates, and backs its own talent with conviction.Timestamps00:00 Show trailer 02:00 Intro 04:20 What does it mean to be a challenger bank?07:30 Why Chadwick took the CEO role after the death of longtime CEO Andrew Moor 10:40 What was going wrong in 2025 as he stepped into the role?13:20 Chadwick on the housing market 16:20 Does Canada have a systemic housing problem?18:30 Skepticism about the EQB strategy21:00 What EQB look like in 5 years?23:00 EQB has modelled for more pain24:30 Why the mortgage renewal cliff doesn’t impact EQB and losses tied to housing26:10 What does lower immigration mean for growth? 28:00 EQB’s deal with PC Financial 32:30 Question marks surrounding the deal36:10 EQB’s word for 2026: Reimagine 38:30 What does it mean for EQB’s risk profile?40:30 EQB’s structure, decision making and accountability43:00 Does the deal change EQB’s profile as a takeover target?45:10 What can EQB do in wealth that isn’t already being done? 47:00 Canada needs to take hold of its destiny and fast SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews.

David Burrows is back — and he’s bringing receipts. When he joined In the Money with Amber Kanwar last year, his call that Canada would behave more like a global market than a U.S. tech-heavy one went viral… and then it played out. Now, the Chairman & CIO of Barometer Capital Management, returns with the same message, only louder: the market is shifting — and the forces driving the new leadership are getting stronger. Burrows explains why investors may need to look beyond the familiar tech trade, and why commodities, financials, defence, and selective international exposure are increasingly doing the heavy lifting as we head deeper into 2026.In the Mailbag, Burrows goes stock-by-stock across a packed lineup. He starts with JP Morgan (JPM), explaining why he still sees it as the best house in a financials-led neighborhood, then tackles TD (TD) after its massive run and why he’s wary of second-guessing a bull market in banks. From there, he goes global with Banco Santander (SAN), breaking down why it’s become a core holding and what investors miss when they only focus on the Canadian Big Five. He then digs into defence — including Kratos (KTOS) and AeroVironment (AVAV) — along with broader exposure through ETFs like iShares U.S. Aerospace & Defense ETF (ITA), Invesco Aerospace & Defense ETF (PPA), and iShares European Defence ETF (EUAD). In industrials, he weighs in on Canadian Pacific Kansas City (CP) and CN Rail (CN), plus Canadian names like Aecon (ARE) and TFI International (TFII), and explains why “broken charts” can remain traps without a true trend reversal. He also touches on mega-cap tech exposure through holdings like Alphabet (GOOGL), NVIDIA (NVDA), Broadcom (AVGO), and Lam Research (LRCX), before pivoting to healthcare’s improving breadth via the SPDR S&P Biotech ETF (XBI), leaders like Eli Lilly (LLY), and renewed momentum in Moderna (MRNA). He closes the mailbag with commodities, discussing Alamos Gold (AGI) and M&A chatter in miners Glencore (GLEN) and Rio Tinto (RIO), and why these cycles often last longer than investors expect.In Pro Picks, Burrows revisits ideas that have already delivered — including JP Morgan (JPM), Fairfax Financial (FFH), and Agnico Eagle (AEM) — and explains why big gains don’t automatically mean it’s time to sell in a structural bull market. He then delivers a commodity-heavy set of high-conviction picks built for what he sees as the next phase of leadership: Hudbay Minerals (HBM) as a way to play tightening copper supply, Wheaton Precious Metals (WPM) for lower-volatility precious-metals exposure with silver leverage, and Headwater Exploration (HWX) as a low-cost way to position for energy catching a stronger bid. If last year was the preview, Burrows argues this year is the confirmation — the market’s centre of gravity is moving, and investors who adapt early can still be ahead of the crowd.Timestamps00:00 intro03:05 David’s viral clip on Canada05:00 What’s going to outperform in 2026? What are the right neighbourhoods?07:40 David’s approach and how he recognized the market shift11:00 Does this mean the Magnificent 7 is dead? 13:15 Venezuela fear14:50 Trump’s threat on the Fed 16:30 Is the sell America trade alive in 2026?17:50 Does each notch of uncertainty further embolden gold?19:10 Do financials still have leadership?21:35 ITM Mailbag: JP Morgan stock (JPM)24:35 TD Bank stock (TD)29:00 Banco Santander stock (SAN)32:00 Defence stocks (KTOS, AVAV) 36:05 CP Rail & CN Rail stocks (CP, CNR) 37:20 Aecon stock (ARE.TO)38:30 TFI International stock(TFII) 41:10 Healthcare stocks (LLY, MDNA)43:05 Alamos Gold (AGI) 45:10 Glencore/Rio-Tinto rumour (GLEN.LON, RIO.LON)46:40 David’s Past & Pro Picks (JPM, FFH, AEM, WPM, HWX)58:30 Why is CNQ underperforming? SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.With tools like the ETF Compare Tool and Market Insights, you can easily identify ETFs that hold your favourite stocks, match your risk tolerance, and align with your investment goals. To explore these tools, head to https://www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional befo

What happens when politics collides head-on with monetary policy? On this episode of In the Money with Amber Kanwar, Amber sits down with legendary Fed watcher Ed Yardeni, President of Yardeni Research, to unpack what he calls an unprecedented threat to the independence of the U.S. Federal Reserve — and why the market may be more resilient than the headlines suggest.Yardeni, who once worked at the Fed and has spent more than four decades studying markets, explains why political pressure on Chair Jerome Powell could actually strengthen the Fed’s independence, not weaken it. He also lays out his core investing principle: never let politics drive portfolio decisions. Instead, earnings remain the true north star — and in Yardeni’s view, earnings continue to surprise to the upside.Amber and Yardeni dig into his “Roaring 2020s” thesis, why he believes the U.S. economy can avoid recession, and how demographics, productivity gains, and resilient consumers are underpinning record-high profits. They also explore why geopolitical shocks often create buying opportunities — and why fears of an imminent collapse have repeatedly kept investors on the sidelines at the worst possible times.The conversation then turns to where Yardeni is repositioning capital as market leadership broadens beyond mega-cap tech — including why he thinks the Magnificent Seven face rising competition in the AI arms race, even as the broader market benefits.In Pro Picks, Ed Yardeni shares his highest-conviction ideas for the year ahead. He explains why he is market-weight technology but underweight the Magnificent Seven, arguing that intensifying AI competition and massive capital spending could pressure returns. Instead, he’s overweight industrials, which stand to benefit from onshoring and infrastructure investment, overweight healthcare, where an emerging M&A cycle and biotech innovation could unlock value, and overweight precious metals, with gold and the broader complex supported by central-bank buying, global uncertainty, and powerful technical momentum.To learn more about Yardeni’s framework and ongoing market insights, check out https://yardeniquicktakes.com, his near-daily research service for individual investors.Timestamps00:00 Show intro 05:40 Powell is justified in responding to Trump’s barrage of attacks 07:00 This could end up making the Fed MORE independent 09:15 This is perverse, unusual and unsettling 10:15 Never let politics interfere in your investment decisions13:30 It’s all about earnings, but is this time different? 17:00 Geopolitical crises are great buying opportunities 19:00 Yardeni’s roaring ‘20s thesis explained, the Gen shaped economy 24:00 The bears will keep you out of the market and that’s a mistake 26:30 The U.S. market relative to the rest of the world 30:00 Ed’s Pro Picks (underweight Mag 7, overweight materials & precious metals, overweight industrials, overweight healthcare)SponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

What does the Venezuela fallout mean for Canada, oil markets — and for investors trying to stay ahead of the noise? On this episode of In the Money with Amber Kanwar, we tackle the geopolitical shock head-on — and separate real risk from market overreaction.Amber begins with veteran investor Frances Horodelski, setting the scene on Venezuela’s sudden return to the global spotlight. Frances breaks down why the sharp selloff in Canadian energy stocks may have been more about positioning than fundamentals. She explains how Canadian oil had already outperformed U.S. peers, why fears around Venezuelan oil supply may be overstated, and why infrastructure constraints, corruption, and pricing realities mean any meaningful production ramp will take years, not weeks. She also weighs in on USMCA/NAFTA renegotiations, Canada’s bargaining power with the U.S., the resilience of the Canadian dollar, and why investors can’t just “buy the energy ETF” anymore.The conversation expands beyond oil to explore Bank of Canada policy, gold and gold miners, commodities, Canadian banks, and defensive sectors. Frances explains why banks, copper, and gold may be ahead of themselves, why utilities and healthcare could offer shelter, and why this environment increasingly looks like a stock picker’s market.In the second half, Cole Smead of Smead Capital tackles the biggest question investors are asking: Does Venezuela change the global energy game? Cole argues the market is confusing headlines with fundamentals, explaining why time, capital, and physics still dominate oil markets. He outlines why fears around Canadian heavy oil may be misplaced, why WTI vs WCS spreads matter, and how potential pipeline developments could reshape long-term outcomes.Cole also shares how he’s positioning portfolios amid volatility, why he’s leaning into Canadian heavy oil producers, avoiding short-term refinery hype, and “dreaming” where others can’t. He discusses ConocoPhillips (COP), Chevron (CVX), Canadian names like Cenovus, Canadian Natural Resources, Strathcona, Tourmaline, and Birchcliff, and why investor psychology creates opportunity when markets panic.It’s a clear-eyed conversation about geopolitics, energy, and investor psychology — and a reminder that the market’s first reaction is rarely the final verdict.Timestamps00:00 Show intro03:30 Looking at the Canadian energy patch pre and post Venezuela invasion06:00 The oil making its way to the Gulf Coast is not a lot of oil 07:00 It will take a very long time to get the oil out of Venezuela 08:30 Is Canada’s bargaining power screwed?11:00 Is Venezuela a domestic issue because it will lower oil prices?12:30 What about Canadian banks in Latin America?14:40 What does it mean for the gold price? 16:30 Where can investors hide? 18:00 What about other commodities?20:20 The world changes when consequential people are in power23:00 Cole Smead ‘this too will pass’, why Cole still likes Canadian energy26:00 Pipeline pressure and supply and demand30:45 What does it mean for U.S. energy?34:30 What is the ideal tilt for a portfolio?37:40 Cole is running toward Canadian heavy oil 40:00 Time to sell or find a way to profit?44:20 Could this mean more M&A in the Canadian energy patch?49:00 Will this catalyze action around a pipeline?53:15 What comes next around the world?57:40 Is there a world where Canadian producers go to Venezuela?59:30 Cole’s high-conviction ideasSponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

In the final instalment of our special series on alternative investing, host Paige Ellis sits down with Sachin Shah, CEO of Brookfield Wealth Solutions for a deep dive into the private-markets playbook that helped build one of the world’s most powerful alternative asset managers and what retail investors can learn from it.With more than two decades inside Brookfield, Sachin shares how private equity, infrastructure, real estate, private credit, and insurance are reshaping long-term portfolio construction. He explains why alternatives have “seasoned” into a mainstream asset class, how pension funds and sovereign wealth funds paved the way, and why retail investors are now being invited in — just as retirement shortfalls become harder to ignore.The conversation digs into where Brookfield is seeing opportunity today, from mispricing in global real estate to long-duration infrastructure and the massive capital demands of the AI build-out. Sachin also addresses the risks investors worry about most — liquidity, leverage, valuation transparency — and explains how Brookfield thinks about downside protection, balance-sheet discipline, and intrinsic value across market cycles.As the series wraps, Sachin offers a clear framework for investors who have little or no exposure to private markets, including how to think about starting small, understanding liquidity trade-offs, and positioning alternatives in a long-term retirement plan.This episode closes out our deep dive into alternative investing — and sets the stage for what comes next as private markets continue to reshape the future of investing.Timestamps00:00 Questrade’s new tools for investors. Use promo code INTHEMONEY1:45 Show intro with Paige Ellis03:45 Sachin Shah on his early days at Brookfield and the lessons learned07:10 Defining alternatives in 202509:10 Why has private investing now gone mainstream?10:30 Where is Brookfield deploying capital geographically? 13:00 Have tariffs changed the outlook?14:40 Mispricing in the real estate market 18:00 Where Brookfield is being cautious20:30 There are too many PE firms22:50 Brookfield knows what they’re good at and what they’re not23:50 Sachin’s thoughts on evergreen funds26:45 Regulators and private investing30:25 Are institutions tapped out? Is that why alts are going after retail?33:05 The fee discussion34:50 How do you value an asset in the private world?36:40 Insurers & private equity39:30 Where does Sachin see the biggest areas of growth?41:10 The Brookfield niche in the AI buildout45:00 What keeps Sachin up at night?46:50 Where should investors start to get private exposure? SponsorsSign up for your first self-directed account at https://questrade.com. Get your $50 cash reward when you use the promo code: INTHEMONEY. Or open a QuestWealth Portfolios account and your first $10,000 will be managed for free for one year. Promo code: INTHEMONEY. Join the Questrade Pro Waitlist: https://www.questrade.com/questrade-proFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Real estate is one of the most talked-about alternative investments — but what does it actually look like in practice?In the second instalment of our special series on alternative investing, host Paige Ellis sits down with Lindsey Deluce, CTV Your Morning host and an active real estate investor building long-term wealth outside the stock market. Lindsey opens up about her real-world investing journey, from early renovations in Toronto to scaling a growing portfolio of multi-unit properties across Ontario.Lindsey breaks down the BRRRR strategy — buy, rehab, rent, refinance, repeat — and explains how she uses renovations, tenant turnover, and creative financing to unlock equity and grow her portfolio. She shares how her approach evolved after the pandemic, why she moved beyond Toronto, and how she evaluates cash flow and risk in today’s market.This conversation goes beyond theory. Lindsey gets candid about hearing “no” from banks, navigating appraisals, working with alternative lenders, and why building the right team — from contractors to mortgage brokers — is critical to success. She also shares her ambitious “50 by 50” goal and how she’s using real estate to create generational wealth.If you’re curious how real estate fits into the broader world of alternative investing — and what it really takes to make the numbers work — this episode offers a practical, behind-the-scenes look from someone doing it in real time.Timestamps00:00 Questrade’s new tools for investors. Use promo code INTHEMONEY01:45 Show intro with Paige Ellis03:45 Why did Lindsey choose to become a real estate investor?05:20 Assessing different real estate investment strategies07:20 What is the BRRR method and Lindsey’s 50 by 50 goal10:20 How to approach buying a property 13:20 Why Lindsey is focused outside of Toronto14:40 What does the renovation part look like?17:15 What about when things go wrong?19:10 Becoming a landlord 22:20 The refinance stage24:40 Financing solutions and non-bank lenders26:20 How do you know if you’re ready to jump back in and what step does Lindsey like the best?28:10 What about rates? Is it a more difficult environment right now?29:30 Realistically how much capital do you need to get started?31:00 What’s a realistic timeline for getting your money out? And what about lessons learned 33:20 Can anyone get started? SponsorsSign up for your first self-directed account at https://questrade.com. Get your $50 cash reward when you use the promo code: INTHEMONEY. Or open a QuestWealth Portfolios account and your first $10,000 will be managed for free for one year. Promo code: INTHEMONEY. Join the Questrade Pro Waitlist: https://www.questrade.com/questrade-proFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

What if the biggest investing opportunities aren’t in stocks at all?This episode of In the Money with Amber Kanwar kicks off a brand-new special series on Alternative Investing, starting with a candid conversation between Amber and longtime colleague Paige Ellis, who takes over hosting duties for the series. Together, they set the stage for why private markets, once reserved for institutions and ultra-wealthy investors, are rapidly moving into the mainstream — and what that shift means for everyday portfolios.Paige is then joined by Mario Giannini, Executive Co-Chairman of Hamilton Lane, a private markets powerhouse overseeing nearly $1 trillion in assets. Drawing on decades of experience, Giannini explains why public companies are disappearing, why private capital now dominates everything from AI implementation to infrastructure, and how investors should think about illiquidity not as a flaw, but as a feature.The conversation tackles some of the most pressing questions investors have about alternatives: how much of a portfolio should be allocated to private assets, why private credit has quietly outperformed for years, what risks are misunderstood, and why evergreen structures are reshaping access for high-net-worth and retail investors alike. Giannini also weighs in on AI valuations, secondaries, infrastructure, Canada’s investment outlook, and why future growth in private markets may be driven by individuals rather than institutions.This is the first episode in a three-part deep dive into alternatives — a reset on how capital is allocated in a world where the most valuable companies may never go public.Timestamps00:00 Questrade’s new tools for investors. Use promo code INTHEMONEY01:45 A look into our special series on alternatives06:00 SPECIAL GAME: What is an alternative asset?13:45 How sideways deals have informed Mario Giannini’s investment approach16:30 How private investing became much more popular after the GFC18:00 Why you need private exposure because public companies are disappearing20:40 Private markets outperforming public markets22:50 Are there cracks in private credit? 25:45 Is AI in a bubble?27:45 AI & private markets30:30 What is Mario bullish on right now? 32:10 The good news and bad news about Canada35:00 Why Hamilton Lane was one of the first to offer private investment vehicles to individuals and why a downturn might be necessary39:20 The liquidity question44:00 Understanding gating and why it’s happening46:50 How much of a portfolio should be in private investments? 51:00 Is there an area of private investments where retail has an edge? SponsorsSign up for your first self-directed account at https://questrade.com. Get your $50 cash reward when you use the promo code: INTHEMONEY. Or open a QuestWealth Portfolios account and your first $10,000 will be managed for free for one year. Promo code: INTHEMONEY. Join the Questrade Pro Waitlist: https://www.questrade.com/questrade-proFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

What does real wealth management look like when your biggest asset isn’t your portfolio — but your business, your family, and your time?On this special episode of In the Money with Amber Kanwar, Amber sits down with Danielle Martin, Senior Wealth Advisor and Portfolio Manager, ScotiaMcLeod, who specializes in working with business owners, dentists, and medical professionals with complex financial lives. Together, they move beyond stock picking and into the realities of holistic wealth planning — from tax strategy and insurance to legacy planning, work-life balance, and peace of mind.Danielle explains why entrepreneurs think differently about money, why many invest almost everything back into their businesses, and how that mindset can create blind spots if not properly managed. She shares the “crystal ball” she’s developed over decades of advising business owners — the common pitfalls, emotional traps, and distractions that can derail long-term financial success — and how structure and simplicity help clients stay the course.The conversation also explores major life moments that don’t show up on a balance sheet: maternity leave as a financial event, building a career without a pension, raising a family while running a business, and why trust and listening matter just as much as returns. Danielle reflects on being one of the only women in her training class decades ago, and why wealth management today is becoming a far more human — and inclusive — profession.The Scotiabank Women Initiative is committed to helping women grow their businesses, advance their careers and invest in their futures, so they can succeed on their own terms. For more, visit https://scotiabank.com/women-initiative.Timestamps00:00 Show intro00:55 Managing wealth for business owners04:00 Educating clients on a holistic approach to wealth management05:30 The most common pitfalls07:00 When should business owners start?08:40 Where does maternity leave and flexibility fit in?11:00 It’s a fantastic industry for women SponsorsThe Scotiabank Women Initiative is committed to helping women grow their businesses, advance their careers and invest in their futures, so they can succeed on their own terms. For more check out: https://www.scotiabank.com/women-initiative/ca/en.htmlLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.SCOTIA WEALTH MANAGEMENT DISCLAIMER This publication has been prepared by The Bank of Nova Scotia for Scotia Wealth Management clients and may not be redistributed. It is for general information purposes only and should not be considered or relied upon as personal and/or specific financial, tax, pension, insurance, legal or investment advice. We are not tax or legal advisors and we recommend that individuals consult with their qualified advisors, including tax and legal advisors, before taking any action based upon the information contained in this publication. Opinions and projections contained in this publication are our own as of the date hereof and are subject to change without notice. Scotia Wealth Management is under no obligation to update this commentary and readers should assume the information contained herein will not be updated. While care and attention has been taken to ensure the accuracy and reliability of the material in this publication, neither The Bank of Nova Scotia nor any of its affiliates or any of their respective directors, officers or employees make any representations or warranties, express or implied, as to the accuracy or completeness of such material and disclaim any liability resulting from any direct or consequential loss arising from any use of this publication or the information contained herein. This commentary may contain forward-looking statements based on current expectations and projections about future general economic factors. Forward-looking statements are subject to inherent risks and uncertainties which may be unforeseeable and such expectations and projections may be incorrect in the future. Forward-looking statements are not guarantees of future performance and you should avoid placing undue reliance upon them. This publication and all the information, opinions and conclusions contained herein are protected by copyright. This publication may not be reproduced in whole or in part without the prior express consent of The Bank of Nova Scotia. ®Registered

We’re getting festive on this episode of In the Money with Amber Kanwar — and instead of our usual portfolio manager chat, Amber and executive producer Jillian Glickman take a step back to look at what really mattered this year: which stocks worked, which didn’t, and which fund managers actually delivered when it counted.After launching the podcast from scratch just a year ago, the team revisits the show’s biggest moments, from standout interviews and surprise headlines to the stocks and themes that defined the year. They break down the best and worst performers across the show, reveal which investing styles thrived in a volatile market, and take an honest look at where conviction paid off — and where it didn’t.The episode culminates in a special interview with In the Money with Amber Kanwar’s best-performing fund manager of the year, Daniel Lewis of Orange Capital. Known for his contrarian, special-situations approach, Lewis explains why distressed and misunderstood businesses delivered some of the biggest returns, notably Better Home & Finance's +300% showing (BETR) — and shares two brand-new stock ideas he believes could be next.It’s part year-end report card, part behind-the-scenes reflection, and part forward-looking playbook — the perfect way to close out the year and set the stage for what’s next.Happy holidays from In the Money with Amber Kanwar — and thank you for being part of the journey.Timestamps00:00 Questrade’s new tools for investors. Use promo code INTHEMONEY01:50 Show intro04:35 Reflecting on the first year of In the Money with Amber Kanwar 07:35 Our first episode and how we knew people liked the show!10:10 Our first live show at the Calgary Stampede and breaking news with Strathcona’s Adam Waterous12:35 Amber’s interview with Prime Minister Mark Carney17:20 Thank you to our sponsors!18:45 The most number one recommended stock of the year: Tourmaline Oil (TOU)23:00 Equinox’s Ross Beaty calls the stock’s turnaround (EQX)27:00 2025’s worst performing stocks (DND, FISV)32:10 Commodities in 202537:35 The theme of the year: AI, and the winning stock: Alphabet (GOOG) 43:35 2025’s best performing stocks45:25: Best Performing Portfolio Manager of the Year looks back at his best pick and gives two new picks (BETR, ARX-N, WIX) SponsorsSign up for your first self-directed account at https://questrade.com. Get your $50 cash reward when you use the promo code: INTHEMONEY. Or open a QuestWealth Portfolios account and your first $10,000 will be managed for free for one year. Promo code: INTHEMONEY. Join the Questrade Pro Waitlist: https://www.questrade.com/questrade-proFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.With tools like the ETF Compare Tool and Market Insights, you can easily identify ETFs that hold your favourite stocks, match your risk tolerance, and align with your investment goals. To explore these tools, head to www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Artificial intelligence has been hyped, doubted, celebrated, and questioned — but very few people understand it from the inside out.On this episode of In the Money with Amber Kanwar, Amber sits down with Malcolm White, Portfolio Manager, BMO Global Asset Management, to cut through the noise around the AI boom and explain what’s actually happening beneath the headlines. From the launch of ChatGPT to today’s trillion-dollar AI infrastructure buildout, Malcolm breaks down why this moment is fundamentally different — and why many investors still don’t fully grasp the technology driving it.Drawing on his experience as both a former AI programmer and portfolio manager, Malcolm explains why AI adoption is moving faster than anything he’s seen before, how skepticism around valuations, capex, and so-called “AI bubbles” often misses the mark, and why physical constraints — power, data centers, and compute — matter just as much as software. He offers a rare behind-the-scenes look at how AI models are trained, why data is the new gold, and what investors get wrong about chips, depreciation, and commoditization.In the Mailbag, Malcolm weighs in on some of the most talked-about names in the AI ecosystem, including Broadcom (AVGO), Reddit (RDDT), SanDisk (SNDK), Western Digital (WDC), and Celestica (CLS). He explains why volatility is rising even as the AI capex cycle remains intact, how investors should think about pullbacks versus broken theses, and why certain “boring” infrastructure plays are quietly benefiting from massive shifts in data, memory, and storage demand.In Pro Picks, Malcolm lays out three high-conviction ideas tied to different stages of the AI and innovation cycle. He explains why Nvidia's (NVDA) fundamentals continue to be misunderstood despite its dominant position, why memory and semiconductors remain critical bottlenecks, and why Samsung Electronics (005930.KS) offers an underappreciated catch-up opportunity. He also looks further out to the next frontier with a deep dive into quantum computing, including why pre-IPO Xanadu Quantum Technologies stands out — and why investors should treat the space with both curiosity and caution.Timestamps00:00 Questrade’s new tools for investors. Use promo code INTHEMONEY01:50 Show intro03:55 Malcolm is a portfolio manager & AI programmer08:15 An inside view into the pace at which AI has evolved13:50 The Deepseek moment17:00 The Fury of Burry - what Michael Burry is Missing 23:50 What about the circular deals?26:30 Why Malcolm thinks Anthropic will be the first IPO & what comes next29:40 The Oracle question32:45 How transformative will AI be? 36:00 ITM Mailbag: Broadcom stock (AVGO) 39:10 Reddit stock (RDDT)40:00 Sandisk stock (SNDK) 43:15 Western Digital stock (WDC)45:00 Celestica stock (CLS)48:25 Malcolm’s Pro Picks (NVDA, Samsung, Xanadu Quantum) 59:20 ETF Minute: HAMILTON CHAMPIONS™ Canadian Dividend Index ETF, HAMILTON CHAMPIONS™ EnhancedCanadian Dividend ETFSponsorsSign up for your first self-directed account at https://questrade.com. Get your $50 cash reward when you use the promo code: INTHEMONEY. Or open a QuestWealth Portfolios account and your first $10,000 will be managed for free for one year. Promo code: INTHEMONEY. Join the Questrade Pro Waitlist: https://www.questrade.com/questrade-proFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.With tools like the ETF Compare Tool and Market Insights, you can easily identify ETFs that hold your favourite stocks, match your risk tolerance, and align with your investment goals. To explore these tools, head to www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationETF Minute is brought to you by Hamilton ETFs. To learn more about the HAMILTON CHAMPIONS™ Canadian Dividend Index ETF and the HAMILTON CHAMPIONS™ Enhanced Canadian Dividend ETF, visit https://hamiltonetfs.com.Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Cov

Long term investing sounds simple until the market throws fear, noise, bubbles, tariffs, and headlines at you. On this episode of In the Money with Amber Kanwar, Amber sits down with Winnie Go, Senior Wealth Advisor & Portfolio Manager with Scotia Wealth Management, for a grounded, battle-tested conversation shaped by her 30 years in the markets.Winnie breaks down why high-quality companies, discipline, and diversification—not hype—are what actually build wealth over decades. She explains how she navigated the fear of 2008, what today’s bubble chatter gets wrong, why tech and gold can rally together in this strange new market, and why selling too early is one of the most common investor mistakes.They dig into what’s working now: earnings growth, overlooked sectors like healthcare, the steady strength of Canadian dividends, and why “boring” names in financials and utilities often win the long game. She also shares what she avoids completely and how investor behavior has shifted—especially for women—over the course of her career.The Scotiabank Women Initiative is committed to helping women grow their businesses, advance their careers and invest in their futures, so they can succeed on their own terms. For more information check out: https://www.scotiabank.com/women-initiative/ca/en.htmlTimestamps00:00 Show intro01:00 Winnie’s investment philosophy02:30 Why you need to stay tried and true03:30 It’s always something, stay invested 05:30 What did Winnie learn from the GFC?06:30 What about bubbles?07:30 Tech rallying alongside gold 08:30 Tech & diversification10:00 Canada vs. U.S.11:50 Earnings growth & dividend increases12:20 What does Winnie like right now?13:35 What is Winnie avoiding?14:20 The importance of bringing women into the conversation SponsorsThe Scotiabank Women Initiative is committed to helping women grow their businesses, advance their careers and invest in their futures, so they can succeed on their own terms. For more check out: https://www.scotiabank.com/women-initiative/ca/en.htmlLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.SCOTIA WEALTH MANAGEMENT DISCLAIMER This publication has been prepared by The Bank of Nova Scotia for Scotia Wealth Management clients and may not be redistributed. It is for general information purposes only and should not be considered or relied upon as personal and/or specific financial, tax, pension, insurance, legal or investment advice. We are not tax or legal advisors and we recommend that individuals consult with their qualified advisors, including tax and legal advisors, before taking any action based upon the information contained in this publication. Opinions and projections contained in this publication are our own as of the date hereof and are subject to change without notice. Scotia Wealth Management is under no obligation to update this commentary and readers should assume the information contained herein will not be updated. While care and attention has been taken to ensure the accuracy and reliability of the material in this publication, neither The Bank of Nova Scotia nor any of its affiliates or any of their respective directors, officers or employees make any representations or warranties, express or implied, as to the accuracy or completeness of such material and disclaim any liability resulting from any direct or consequential loss arising from any use of this publication or the information contained herein. This commentary may contain forward-looking statements based on current expectations and projections about future general economic factors. Forward-looking statements are subject to inherent risks and uncertainties which may be unforeseeable and such expectations and projections may be incorrect in the future. Forward-looking statements are not guarantees of future performance and you should avoid placing undue reliance upon them. This publication and all the information, opinions and conclusions contained herein are protected by copyright. This publication may not be reproduced in whole or in part without the prior express consent of The Bank of Nova Scotia. ®Registered trademark of The Bank of Nova Scotia, used under licence. Scotia Wealth Management® consists of a range of financial services provided by The Bank of Nova Scotia (Scotiabank®); The Bank of Nova Scotia Trust Company (Scotiatrust®);

What if the next big bull market isn’t in tech or AI stocks — but in commodities?On this episode of In the Money with Amber Kanwar, Amber sits down with Hussein Allidina, Head of Commodities at TD Asset Management, for one of the most comprehensive conversations about commodities after an explosive year. Hussein argues that we’re still in the early stages of a multi-year commodity upcycle, driven by chronic underinvestment, rising global demand, and a world that needs far more energy, metals and power infrastructure than we’re currently capable of producing. He explains why commodities zig when everything else zags, how they deliver real inflation protection, and why a 5–10% allocation may be the most overlooked tool in modern portfolio construction.From why oil may first trade down into the $40 range before setting up for a powerful rebound, to why natural gas could become the quiet backbone of AI, Hussein delivers a masterclass in understanding cycles, supply constraints, and how capital is flowing into the wrong parts of the system. And yes — we get into gold. Why it’s not an inflation hedge, why central banks can’t stop buying it, and why he believes “we see $5,000/oz before we see $2,000/oz.” Amber and Hussein also explore the long cycles in the U.S. dollar, the rise in military and infrastructure spending, and how electrification and data centres will reshape global commodity demand over the next decade.In Pro Picks, Hussein lays out three clear calls: a tactical short in soybeans as speculative flows unwind, a strategic long oil position over the next 6–12 months as inventories tighten and spare capacity shrinks, and a long-term bullish view on copper over the next five to seven years driven by some of the strongest structural demand forces in the market. It’s a roadmap for anyone trying to navigate commodities with a professional lens.If you’ve ever wondered how to think about commodities like a pro — or whether now is the moment to finally add them to your portfolio — this episode is for you.Timestamps00:00 Questrade’s new tools for investors. Use promo code INTHEMONEY01:15 Show intro03:25 The role of commodities in a portfolio07:15 What’s a responsible allocation to commodities?10:00 Understanding how commodity cycles work14:30 What’s going on with oil? 19:10 Expectations for natural gas23:00 What if the return from AI doesn’t materialize?25:00 The path for Copper27:20 The generalist attitude toward commodities right now29:30 Gold’s record year- what happens next?36:45 Silver’s big surge 39:20 TD Alternative Commodities Pool Fund40:40 The relationship between rates & commodities 43:10 Understanding the supply & demand picture, bigger themes & defence spending46:45 Hussein’s Pro Picks (short soy beans, long oil, longer term copper) SponsorsSign up for your first self-directed account at https://questrade.com. Get your $50 cash reward when you use the promo code: INTHEMONEY. Or open a QuestWealth Portfolios account and your first $10,000 will be managed for free for one year. Promo code: INTHEMONEY. For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.With tools like the ETF Compare Tool and Market Insights, you can easily identify ETFs that hold your favourite stocks, match your risk tolerance, and align with your investment goals. To explore these tools, head to www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

The final Fed decision of 2025 may set the tone for the entire 2026 market — and today on In the Money with Amber Kanwar, portfolio manager Brianne Gardner joins Amber to break down what really matters for investors right now. From earnings strength to sector rotation to how much weight you should put on Powell’s language ahead of a potential Fed chair transition, Brianne lays out her top-down roadmap for the year ahead.She also walks through how she’s positioning client portfolios — why the U.S. still earns the biggest weighting, how her team uses downside-capture targets to protect wealth, and why falling rates could unleash a flood of sidelined cash into equities in 2026.Then it’s time for a busy mailbag, where Brianne weighs in on NFI Group (NFI.TO), Boston Scientific (BSX), Fairfax Financial (FFH.TO), Rogers (RCI.B.TO), EQB (EQB.TO), Netflix (NFLX) and Oracle (ORCL) — breaking down which names she’s avoiding, which ones she’s actively vetting, and where she sees undervalued stability versus pure momentum risk.In Pro Picks, Brianne reveals a theme she didn’t even set out to create — market darlings that have pulled back and now offer compelling entry points. She starts with Capital Power (CPX.TO), calling the recent weakness a rare chance to buy a major Canadian power producer at an attractive valuation as it upgrades its fleet and extends asset life. Next is TMX Group (X.TO), a long-term winner that’s dipped on slower IPO activity but continues to deliver double-digit growth in its expanding data and analytics business. And finally, she makes the case for Meta (META), where she used the latest pullback to add to her position, citing strength in core advertising, the monetization of Reels, and meaningful AI-driven engagement tailwinds. Timestamps00:00 Questrade’s new tools for investors. Use promo code INTHEMONEY02:00 Show intro04:00 Brianne’s investment style05:50 A top down approach in 202509:30 The Fed rate decision and the picture for 202613:05 What potential rate cuts will mean for stocks next year14:05 ITM Mailbag: NFI Group (NFI)17:30 Boston Scientific stock (BSX)20:30 Fairfax Financial stock (FFH)23:40 Telcos & Rogers stock (RCI.B)28:40 Why Brianne likes to rent not own energy30:45 EQB Inc (EQB)33:50 Netflix stock (NFLX)38:15 Oracle stock (ORCL)41:40 Brianne’s Pro Picks (CPX, X, META) SponsorsSign up for your first self-directed account at https://questrade.com. Get your $50 cash reward when you use the promo code: INTHEMONEY. Or open a QuestWealth Portfolios account and your first $10,000 will be managed for free for one year. Promo code: INTHEMONEY. For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.With tools like the ETF Compare Tool and Market Insights, you can easily identify ETFs that hold your favourite stocks, match your risk tolerance, and align with your investment goals. To explore these tools, head to www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, market analysis, and timely investing insights. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers and financial experts. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

In this special episode of In the Money with Amber Kanwar, we team up with The Scotiabank Women Initiative. Amber sits down with Swanzy Quarshie, Managing Director of Equities, Global Investment Solutions at Scotia Wealth Management, for a wide-ranging look at the biggest force in markets today: the AI boom.Swanzy breaks down why equity markets are soaring even as the underlying economy lags, and how much of that strength traces back to AI optimism. She digs into the staggering amount of power and water the AI buildout requires, the limits on how quickly that energy can be supplied, and what happens if AI adoption doesn’t keep pace with the infrastructure being built.They explore whether AI can truly deliver the productivity gains companies are banking on, why some sectors are already seeing real benefits, and how the next wave of AI winners may come from outside the hyperscalers — in places like consultants, utilities, and financials that learn to integrate AI effectively.If you want a clear, grounded take on the realities behind the AI frenzy — and where the lasting opportunities could emerge — this episode is a must-watch.The Scotiabank Women Initiative is committed to helping women grow their businesses, advance their careers and invest in their futures, so they can succeed on their own terms. For more information check out: https://www.scotiabank.com/women-initiative/ca/en.htmlTimestamps00:00 Show intro01:15 Swanzy’s career arc3:30 Swanzy’s view on earnings growth & AI05:30 Cautious optimism on AI08:15 Energy demand, AI & productivity gains13:30 Is there any choice but to be invested in AI? 16:50 How does Canada position itself for the AI boom? 19:00 The U.S. market & AI gains23:00 AI disruption in the market SponsorsThe Scotiabank Women Initiative is committed to helping women grow their businesses, advance their careers and invest in their futures, so they can succeed on their own terms. For more check out: https://www.scotiabank.com/women-initiative/ca/en.htmlLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.SCOTIA WEALTH MANAGEMENT DISCLAIMER This publication has been prepared by The Bank of Nova Scotia for Scotia Wealth Management clients and may not be redistributed. It is for general information purposes only and should not be considered or relied upon as personal and/or specific financial, tax, pension, insurance, legal or investment advice. We are not tax or legal advisors and we recommend that individuals consult with their qualified advisors, including tax and legal advisors, before taking any action based upon the information contained in this publication. Opinions and projections contained in this publication are our own as of the date hereof and are subject to change without notice. Scotia Wealth Management is under no obligation to update this commentary and readers should assume the information contained herein will not be updated. While care and attention has been taken to ensure the accuracy and reliability of the material in this publication, neither The Bank of Nova Scotia nor any of its affiliates or any of their respective directors, officers or employees make any representations or warranties, express or implied, as to the accuracy or completeness of such material and disclaim any liability resulting from any direct or consequential loss arising from any use of this publication or the information contained herein. This commentary may contain forward-looking statements based on current expectations and projections about future general economic factors. Forward-looking statements are subject to inherent risks and uncertainties which may be unforeseeable and such expectations and projections may be incorrect in the future. Forward-looking statements are not guarantees of future performance and you should avoid placing undue reliance upon them. This publication and all the information, opinions and conclusions contained herein are protected by copyright. This publication may not be reproduced in whole or in part without the prior express consent of The Bank of Nova Scotia. ®Registered trademark of The Bank of Nova Scotia, used under licence. Scotia Wealth Management® consists of a range of financial services provided by The Bank of Nova Scotia (Scotiabank®); The Bank of Nova Scotia Trust Company (Scotiatrust®); Private Investment Counsel,

​​We’re looking ahead to the crucial Fed decision next week — and the central bank may be on a collision course with the market, with inflation, and possibly with its own incoming leadership.Amber sits down with Dustin Reid, Chief Strategist, Fixed Income at Mackenzie Investments for a wide-ranging and deeply insightful breakdown of what’s about to hit the economy. Reid explains why chaotic Fed communication set the stage for this moment, why the December cut might be the last one for a long time, and what happens if the next Fed chair cuts rates no matter what the data says.They dig into the true state of the U.S. economy, the K-shaped consumer, whether inflation is really stuck near 3%, and how tariff pass-through and aggressive fiscal stimulus could complicate the path ahead. Then the focus shifts to Canada, where Reid argues the Bank of Canada is not done — predicting at least two more cuts by June 2026 as the country confronts a cooling housing market, stalled population growth, and wildly conflicting job data. He breaks down why labour market figures are sending opposite signals, how Blue Jays mania distorted the numbers, and what the real picture looks like under the surface.Amber and Dustin dive into how AI megacap spending has become a bigger driver of U.S. growth than the consumer, whether cracks in the AI trade will first show up in credit, why Oracle’s CDS spike may be more idiosyncratic than systemic, where private credit stress could ripple next, and how USMCA brinkmanship could impact Canadian markets in 2026.In the Mailbag, Dustin gives his thoughts on the TLT, unpacks the truth about de-dollarization, and explains whether target-maturity bond funds really make sense for retail investors.And in Pro Picks, he lays out his highest-conviction positioning for 2026: long the Canadian front end, short the U.S. front end, and why the EM FX carry could be one of the most overlooked opportunities for Canadian investors.Timestamps00:00 Questrade’s new tools for investors. Use promo code INTHEMONEY02:00 Show intro04:25 Looking ahead to a very important Fed rate decision 06:50 Why Dustin thinks the Fed will stop cutting in the new year 10:20 What about Trump’s new Fed pick and the risk of a policy mistake14:40 The fixed income market could become an issue 17:40 U.S. fiscal policy21:10 The bond vigilantes22:45 AI spending and the bond market28:00 High-yield debt and should we expect more issuances in 202630:00 Private credit defaults33:00 Why Dustin think the BOC is NOT done cutting rates 35:00 Canadian data & the baseball effect41:00 What about inflation?42:50 The trade risk for Canada45:15 ITM Mailbag: Thoughts on the iShares 20+ Year Treasury Bond ETF (TLT)47:00 USD and the role of de-dollarization52:50 Target bond funds54:20 Dustin’s Pro Picks (Long Canadian front end, short U.S. front end, EM FX carry trade)SponsorsSign up for your first self-directed account at https://questrade.com. Get your $50 cash reward when you use the promo code: INTHEMONEY. Or open a QuestWealth Portfolios account and your first $10,000 will be managed for free for one year. Promo code: INTHEMONEY. For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.With tools like the ETF Compare Tool and Market Insights, you can easily identify ETFs that hold your favourite stocks, match your risk tolerance, and align with your investment goals. To explore these tools, head to www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Long-term investing, Barry Schwartz reminds us, is a simple math problem that most investors overcomplicate — and as a self-described permabull, he’s here to explain why staying constructive matters even in the years that test you. Amber and the President & CIO of Baskin Wealth Management dig into the final trading month of the year as Barry breaks down why earnings growth powered the 2025 rally, why double-digit profit growth is still ahead, and why one off-trend year never justifies abandoning a sound philosophy. He also opens up about Baskin’s performance, the pressure of chasing the index, and why he still won’t touch gold miners despite their monster gains.Barry tackles viewer questions head-on, starting with Canadian banks at record highs, explaining why National Bank (NA.TO) and Royal Bank (RY.TO) have earned their premium and why he’s not rushing back into TD Bank (TD.TO). He then digs into Telus (T.TO) and the broader telco group, calling out how attractive dividends can mask weak cash flow and rising leverage. On CN Rail (CNR.TO), he respects the long-term durability but sees better growth elsewhere. He weighs in on Constellation Software’s (CSU.TO) rare pullback, why slower growth doesn’t mean the compounding story is over, and why this may be a chance to add, not bail. On Berkshire Hathaway (BRK.B), he pushes back on worries about Buffett’s growing cash pile and argues the long-term thesis remains intact. He also revisits his long-term energy favourites Tourmaline (TOU.TO) and Canadian Natural Resources (CNQ.TO), explaining why he still prefers these disciplined, founder-influenced compounders over the “sexier” high-beta names that have led the recent energy trade.Barry revisits his February recommendations — Apple (AAPL), Microsoft (MSFT), and Meta (META) — and explains why he stayed steady even when Meta sold off, pointing to its 26 percent revenue growth as evidence that AI is already paying off inside the business. Then he turns to what he’s buying now: TFI International (TFII.TO), where he sees powerful upside once one of the worst freight recessions in years finally bottoms; Alimentation Couche-Tard (ATD.TO), which he believes is regaining momentum as U.S. stores improve and fresh food lifts margins; and Restaurant Brands International (QSR.TO), where Burger King’s turnaround and international expansion could finally unlock a stock that has traded in a range for too long. Each idea reflects the same discipline behind his past winners: buying great businesses when the market temporarily misprices them and letting time and compounding do the heavy lifting.Timestamps00:00 Questrade’s new tools for investors01:30 Show intro 04:00 Barry Schwartz on the importance of long-term investing06:00 Barry’s macro view, corporate earnings and why Baskin is underperforming this year 09:20 Why Barry doesn’t like the gold sector 11:00 What really mattered this year? 13:00 AI & All roads lead to OpenAI 17:00 ITM Mailbag: The Canadian banks 23:30 Why Barry is a perma-bull 25:30 Telus stock (T) 30:00 CN Rail stock (CNR) 35:00 Berkshire Hathaway stock (BRB.B) 40:40 Constellation Software stock (CSU) 42:40 Tourmaline stock & Canadian Natural Resources stock (TOU, CNQ) 46:15 Barry’s Past & Pro Picks (AAPL, MSFT, META, TFI, QSR, ATD)SponsorsFor more information on Questrade's new tools for investors visit https://questrade.comFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.With tools like the ETF Compare Tool and Market Insights, you can easily identify ETFs that hold your favourite stocks, match your risk tolerance, and align with your investment goals. To explore these tools, head to www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this sh

Gold is hovering near record highs, the market is begging for a rate cut, and AI is reshaping every corner of the economy. But are investors seeing the full picture? Amber sits down with Bipan Rai, Managing Director, Head of ETF & Alternatives Strategy at BMO Global Asset Management for an unfiltered macro conversation at a moment when investors are looking for answers and clarity.Bipan breaks down why markets abruptly priced in an aggressive December Fed cut despite an unclear jobs picture distorted by the U.S. government shutdown. He also explains why political pressure on the Federal Reserve is becoming impossible to ignore and how easily a poorly timed cut could become a policy mistake.AI becomes the first major theme of the conversation. Bipan explains why the broad AI beta trade is ending and how debt financed spending is starting to separate real winners from firms with stretched balance sheets. The market may finally be waking up to these differences and he argues that this shift toward a more selective environment is actually a sign of long term health.Gold is the other force that has defined 2025. Bipan breaks down why the metal’s record run has been powered mostly by retail and institutional ETF flows rather than central banks and why gold’s pause at the top is not a sign the move is over. He goes through the supply and demand math and explains why he still sees a path to gold reaching 4500 by mid 2026.They also dig into Canada’s massive fiscal push, the USMCA wildcard, the mortgage renewal wall, and why global infrastructure spending is becoming one of the most durable multi-year investment themes.In Pro Picks, Bipan brings three ETF ideas tied directly to the macro forces shaping markets right now. He starts with the BMO Gold Bullion ETF (ZGLD), which offers pure exposure to gold as it hovers near record levels. He then introduces the BMO Gold Bullion Covered Call Spread ETF (ZWGD), a strategy built to maintain upside participation in gold while generating meaningful yield by selling call spreads. And for investors looking to position for global fiscal stimulus, he highlights the BMO Global Infrastructure Fund ETF (BGIF), a portfolio of essential infrastructure exposure from pipelines to utilities to communication towers benefiting from governments racing to upgrade aging systems.Timestamps00:00 Show intro02:00 Bipan’s view on rates05:00 Thinking about U.S. rates from a political lens and the risk of a policy misstep08:40 Chaos within the Fed & missing data13:00 Why were markets so resilient this year? Especially outside of the U.S. 16:30 AI, exposure and exceptions for 2026 19:50 The big gold rally, retail & institutional investors and outlook for next year26:20 The interplay between the USD and commodities29:45 The Bank of Canada, tariffs and the Canadian economy32:20 The Federal budget & fiscal policy36:20 Bipan’s Pro Picks (ZGLD, ZWGD, BGIF) SponsorsFor 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Presented by BMO ETFs. With tools like the ETF Compare Tool and Market Insights, you can easily identify ETFs that hold your favourite stocks, match your risk tolerance, and align with your investment goals. To explore these tools, head to www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more information.Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews