Insight is Capital™ Podcast

What happens when political ambition trumps economic reality? Doomberg lays it bare. In this episode, Doomberg returns to unpack the dangerous disconnect between Washington’s four-year campaign cycle and the multi-decade timelines required for industrial and energy investments. From Trump’s tariff threats to the fragility of global auto supply chains, we explore why the U.S. economy may be hurtling toward a recession of its own making. Doomberg dives deep into America's squandered energy advantage, China's calculated rise, and how short-term politics is colliding with long-term capital planning. If you care about markets, manufacturing, or the future of Western economic resilience — you don’t want to miss this one. Chapters: 00:00 – Introduction: Supply Chains, Tariffs, and Recession Risk 04:00 – Trump’s Strategy: Diagnosis vs. Execution 08:00 – Six Reasons Auto Tariffs Will Backfire 13:30 – EVs, China, and the Renewable Illusion 17:00 – Energy Politics: North America, Europe, and Asia Compared 22:00 – Reserves, Regulation, and the Bankability Crisis 27:30 – Capital Cycle vs. Political Cycle: The Core Mismatch 32:00 – Resource Riches and the Western Hemisphere Opportunity 39:00 – Natural Gas: Oversupplied, Undervalued, Unstoppable 44:30 – Energy Market Behavior: Spikes, Gluts, and Investor Strategy 49:00 – Why Projects Get Built Under Republicans, Profits Under Democrats 53:00 – Tariffs or Chaos? The Trump–Carney–Canada Connection 58:00 – Europe's Military Fantasy Meets Energy Reality 1:03:00 – War Fatigue, NATO, and the Illusion of Global Reach 1:09:00 – Final Thoughts: Diplomacy, Decline, and the Danger of Delusion #RecessionWatch, #EVRevolution, #TradeWar, #EnergyPolicy, #BYDvsTesla, #SupplyChainDisruption, #MadeInAmerica, #IndustrialPolicy, #GeopoliticalRisk, #CapitalMarkets

Summary In this timely episode of Insight is Capital, Pierre sits down with Ilan Kolet, Institutional Portfolio Manager at Fidelity Investments, to unpack Fidelity’s latest macro outlook and strategic asset allocation decisions—just as the world braces for another wave of geopolitical and trade disruption. Drawing from Fidelity’s latest research piece titled "Elbows Up", Kolet shares why his team is dialing back US equity exposure and tactically reallocating toward Europe. The conversation delves into the erosion of US institutional strength, rising stagflation risk, and the immense threat posed by potential tariffs on Canadian exports. Investors and advisors alike will find invaluable insights into positioning portfolios for resilience in a world increasingly defined by fragmentation and volatility.Kolet’s clarity and candor shine through as he outlines how Fidelity is protecting investors from mounting uncertainty—without overreacting to short-term noise. 3 Key Takeaways:Chapters 00:00 – Intro: Why One Fire Tanked Industrial Production 01:05 – Today's Geopolitical Crossroads 02:44 – From US Exceptionalism to Strategic Repositioning 06:15 – Signs of Stagflation & Why Fidelity Bought Gold 09:04 – The Undermining of Institutional Strength in the US 12:41 – Valuations vs. Catalysts: Europe’s Turn to Shine 18:25 – Caution on Canada: Debt, Rates, and Tariff Fallout 22:29 – How Tariffs Could Hammer the Canadian Economy 30:03 – Who Really Pays for Tariffs? A Case Study in Washing Machines 36:57 – Manufacturing, Inflation, and Hollowed-Out Labor 39:37 – Supply Chain Disruptions & Auto Sector Insights 44:40 – Tactical Shifts: Gold, TIPS, and Currency Hedging 48:32 – Wrapping Up: Managing Through Uncertainty #FidelityInvestments #GlobalAssetAllocation #IlanKolet #MarketOutlook2025 #InvestingInStagflation #USExceptionalism #GoldAsAhedge #TIPSInvesting #TradeTariffs #CanadianEconomy #AdvisorPodcast #FinancialMarkets #InvestmentStrategy #RecessionRisk

Is it possible to enhance diversification without sacrificing returns? In this episode of Raise Your Average, Pierre Daillie sits down with Rodrigo Gordillo of ReSolve Asset Management and Corey Hoffstein of Newfound Research to discuss the game-changing concept of return stacking and the launch of the Return Stacked Global Balanced & Macro ETF (RGBM)—now listed on the Toronto Stock Exchange. Discover how this capital-efficient and tax-efficient strategy allows investors and advisors to stack returns from systematic macro strategies on top of a traditional 60/40 portfolio—all without selling core assets. Packed with institutional insights, behavioral solutions, and a dose of ETF innovation, this conversation reveals how ReturnStacked® ETFs is democratizing strategies once exclusive to pension funds and hedge funds. ⏱️ Chapters (Timestamps) 0:00 - Intro: Why diversification doesn’t need to mean sacrifice 2:52 - Genesis of Return Stacking: Portable alpha reborn 6:45 - Institutional proof: The Delta Pension Plan case study 11:50 - Solving line item risk & behavioral drag 14:35 - "A spoonful of sugar helps the diversification go down." 17:30 - Kitchen vs. Solarium: Pierre’s investing metaphor 20:00 - Defensive leverage vs. LICE (Leverage that's Illiquid, Concentrated, Excessive) 22:30 - Inside RGBM: Structure & allocation explained 26:00 - Three implementation strategies for RGBM 32:00 - Why use RGBM as a return enhancer 36:00 - "Why are we playing the game on hard mode?" 41:30 - Systematic macro: strategy, structure, and why now 47:50 - The power of long-term structural un-correlation 52:00 - Return stacking vs. alpha chasing in equity markets 58:00 - Triple Alpha: Strategy Alpha, Structural Alpha, Tax Alpha 1:00:00 - Closing thoughts & how to learn more 🔗 Resources & Links 📘 Learn more about RGBM ETF 📚 Explore the Systematic Macro Research library 📰 Read more from ReSolve Asset Management 🧠 Newfound Research insightsCopyright © AdvisorAnalyst #ReturnStacking #RGBM #ETFInvesting #CapitalEfficiency #SystematicMacro #AlternativeInvestments #PortfolioDiversification #FinancialAdvisors #BehavioralFinance #InvestingStrategies #RaiseYourAverage

In this episode of Insight is Capital, Pierre Daillie sits down with Tony Dong, founder of ETF Portfolio Blueprint and lead ETF analyst at ETF Central, for a comprehensive dive into the fast-evolving world of exchange-traded funds. Tony brings sharp insights and a dose of healthy skepticism to today’s ETF landscape—from flashy private credit products and speculative options-based funds to underappreciated core portfolio strategies like the "cockroach portfolio."Tony pulls back the curtain on everything from buffer ETFs and zero-day options to smart beta, tax efficiency, and how to write an investment policy statement that keeps you grounded when FOMO strikes. You’ll learn:What to watch out for in private market ETFs like PRIV and XOVRThe performance gap between growth and value ETFs—and what to do about itWhy simplicity beats complexity in volatile marketsHow the “cockroach portfolio” can deliver long-term resilienceThe importance of resisting shiny object syndrome with new ETF launchesChapters & Timestamps: 00:00 – Risk in Private Credit ETFs: A Sanity Check 01:45 – Tony Dong’s Background: From Risk Manager to ETF Expert 03:50 – Market Outlook: Why Allocators Are Skittish in 2024 05:00 – Growth vs. Value ETFs: Are Investors Missing the Point? 08:00 – The Better Way to Access Factor Investing 10:30 – Risks and Red Flags in Private Market ETFs (PRIV, XOVR) 14:30 – Authority Bias and Fund Due Diligence 16:45 – Best New ETF Launches: Canada vs. US 18:50 – Derivative-Based and Zero-DTE ETFs: Caution Required 20:15 – Liquid Alternatives and Bridgewater’s All Weather ETF 22:25 – Return Stacking and Trend Following Strategies 23:45 – The Problem with “1+1” S&P 500 + Bitcoin ETFs 25:00 – Buffer ETFs Explained: Training Wheels for Risk-Averse Clients 27:00 – Why You Need an Investment Policy Statement 29:00 – Building the Cockroach Portfolio: Resilience First 32:00 – The Psychology of Staying Invested 34:00 – Where to Find Tony Dong and His Research Featured Guest: Tony Dong – Founder, ETF Portfolio Blueprint Lead ETF Analyst, ETF Central Website: https://etfportfolioblueprint.com LinkedIn: Tony Dong on LinkedIn

Is Wall Street turning investing into a casino? Dave Nadig reveals the hidden cracks in the ETF system, the explosive risks no one’s prepared for, and what financial advisors must understand before it’s too late. The ETF market has never been more innovative—or more dangerous. In this controversial conversation, industry veteran Dave Nadig breaks down the evolution of financial markets, the rise of speculative ETF products, and why unchecked leverage in the options market could be the next major financial disaster. Nadig also highlights Canada’s unique role in ETF innovation, the psychological battle between retail FOMO and institutional stability, and why financial advisors need to filter out the "black hats" from the "white hats" in today's investing world. This is a must for investment professionals, advisors, and anyone trying to navigate an increasingly chaotic financial landscape. Chapters 0:00 – The ETF Industry’s Hidden Risks 1:21 – Canada vs. U.S.: Who Leads in ETF Innovation? 3:32 – Financial Chaos: Why Markets Feel Like a Circus 4:34 – The Power Play Behind Market Volatility 9:51 – Black Hats vs. White Hats: The Real ETF Battle 14:29 – Retail Speculation: A Dangerous Game? 17:13 – Why Passive Investing Still Wins (For Now) 26:15 – How to Survive as an Advisor in a Speculative Market 39:55 – The ETF Market’s Next Big Blow-Up 48:58 – Are Financial Regulators Being Dismantled? 53:40 – The ‘Buy The Dip’ Mentality: Will It Ever Break? 1:05:04 – Final Takeaways for Investors & Advisors #Investing #ETF #Finance #Markets #WallStreet #FinancialAdvisors #PassiveInvesting #StockMarket #OptionsTrading #RiskManagement #Trading #WealthManagement #InvestSmart

🔹 Is your portfolio riding the edge of chaos? Discover why diversification is back—and how to future-proof your investments before it’s too late. The investment world is shifting, and your portfolio needs to keep up. In this must-watch episode of The Insight is Capital Podcast, Pierre Daillie sits down with Paisley Nardini, portfolio manager and multi-asset strategist at Simplify Asset Management, to break down the rise of alternative investments, the return of diversification, and how to navigate today's unpredictable markets. They tackle the evolving role of derivatives, flow-driven investing, and the institutional strategies now accessible to advisors. Paisley shares her insights on market cycles, interest rates, geopolitical risks, and how to hedge against uncertainty without making high-conviction bets that could wreck your returns. If you’re an advisor looking for smarter ways to manage risk and capture new opportunities, this episode is packed with insights you can’t afford to miss. 📌 Chapters & Timestamps: 0:00 - What is Flow-Driven Investing? Unlocking institutional alpha for advisors 1:37 - Introduction 2:16 - Meet Paisley Nardini—From equity analytics to multi-asset strategy 5:06 - Why Fixed Income Isn’t “Boring” The real driver behind macro trends 10:47 - The ETF Revolution How rule changes reshaped portfolio diversification 11:58 - The Noise Problem Separating innovative investing from speculation 15:49 - Hedging for Tail Risk Using derivatives for capital-efficient protection 20:13 - The FOMO Dilemma Why one group of investors is missing the big picture 26:21 - Where Are Rates Headed? The advisor divide on higher-for-longer vs. duration bets 30:38 - Riding the Edge of Chaos The thin ice we’re skating on in today's markets 33:53 - Market Outlook for 2025 Why the game has changed for growth & earnings 36:05 - Correction or Collapse? What’s really happening under the market’s surface 38:15 - Hard Assets & Inflation Commodities, gold, and the hidden drivers of price action 42:28 - True Diversification The difference between academic & structural returns 47:32 - Breaking the 60/40 Model How advisors should adapt their portfolios now 50:24 - Avoiding Costly Mistakes Why gradual changes beat high-conviction bets 55:26 - How to Implement Change The ETF solutions making diversification seamless 58:49 - Final Takeaways The key to building resilient, forward-looking portfolios #Investing #FinancialAdvisors #PortfolioManagement #ETFs #AlternativeInvestments #Derivatives #MarketOutlook #InterestRates #StockMarket #InvestmentStrategy #TailRiskHedging #WealthManagement #Diversification #HedgeFunds #FinancialMarkets

In this episode Som Seif, CEO of Purpose Investments, joins us to challenge common misconceptions about private markets. First, we discuss the current state of markets. Seif explains why private assets—private equity, private credit, and private real estate—are becoming essential components of modern investment portfolios. He discusses how institutional-grade private investments have become accessible to retail investors, debunks myths about risk and illiquidity, and outlines how these assets can enhance diversification, generate uncorrelated returns, and offer a more stable investment experience. Finally, we delve into how private sub-advisor managers like Apollo, Pantheon, and BlueRock are taking a significant role in democratizing access to these private market opportunities. 01:22 – Introduction: Debunking Private Markets 01:39 – Opening Disclaimer 01:58 – The State of Markets in 2025: Uncertainty & Opportunity 04:50 – Emotions vs. Rational Investing: Avoiding Reactionary Mistakes 09:17 – Why Private Markets Matter Now More Than Ever 10:04 – The Rise of Private Investments for Retail Investors 14:56 – Breaking the Myth: Institutional vs. Retail Access 16:58 – How Private Market Investments Are Being Democratized 21:03 – The Role of Private Assets in Portfolio Construction 23:34 – Private Equity: The Strategic Edge Beyond Public Markets 29:26 – Private Credit: A Rising Opportunity Amid Bank Retrenchment 33:55 – The Convergence of Private Equity & Private Credit 37:41 – Addressing Liquidity Concerns in Private Market Investing 45:27 – Purpose Investments’ Approach to Private Market Accessibility 47:48 – What Advisors Need to Know About Private Markets 49:79 – Final Takeaways: A Call to Reevaluate Private Investments #PrivateMarkets #AlternativeInvestments #PrivateEquity #PrivateCredit #RealEstate #PortfolioManagement #WealthManagement #InstitutionalInvesting #InvestmentStrategy #FinancialMarkets

Private markets are undergoing a seismic shift, with assets poised to surge from $13 trillion to $23 trillion in just five years. As interest rates fluctuate and the new U.S. administration reshapes the financial landscape, where should investors look for opportunities, and what risks lie ahead?In this episode, we are joined by Ash Lawrence, Head of AGF Capital Partners, to unpack the evolving world of private equity, private debt, and absolute return strategies. We discuss:The impact of rising and falling interest rates on alternative strategiesThe growth of private credit as banks tighten lendingThe role of continuation vehicles in private equityHow alternative investments can enhance returns and mitigate riskWhat the Trump administration’s policies mean for marketsThe increasing institutional and retail adoption of alternativesAs markets face volatility and uncertainty, alternative investments offer new ways to build resilient, high-performing portfolios. Don't miss this deep dive into the future of alternatives with insights from one of the industry's top experts.Subscribe for more exclusive insights on markets, investments, and strategies that shape the financial world.#PrivateEquity #PrivateDebt #HedgeFunds #Investing #AlternativeInvestments #Finance #WealthManagement #Markets #AGF #PrivateMarkets #EconomicTrends #FamilyOffices #FixedIncome #MultiStrategy #InvestmentTrends

📖 Did you know that nearly 1 in 5 Canadian adults struggles to read a simple sentence?In this eye-opening episode of the Insight is Capital Podcast, host Pierre Daillie sits down with Mélanie Valcin, President & CEO of United for Literacy, to discuss the life-changing impact of literacy on individuals, families, and the Canadian economy.We explore:✅ The hidden literacy crisis in Canada and how it affects employment, health, and civic engagement✅ The $50+ billion GDP boost that raising literacy levels by just 1% could create✅ How United for Literacy is helping individuals overcome barriers and unlock new opportunities✅ The vital role of financial literacy in economic empowerment✅ Ways YOU can help make a difference🎲 Join us for "Game Night for Literacy" on March 5, 2025!📍 Arcadian Loft, TorontoThis fun-filled fundraising event will bring together leaders from the financial industry to support literacy programs across Canada. Play Scrabble, Trivia, Taboo, and more—while making a meaningful impact.🔗 Get your tickets now! 👉 gamenightforliteracy.ca👥 Want to get involved?Volunteer, donate, or learn more at unitedforliteracy.ca🔔 Subscribe for more insightful conversations with thought leaders shaping the future of finance and society.#UnitedForLiteracy #GameNightForLiteracy #FinancialLiteracy #EducationMatters #RaiseTheBar #InsightIsCapital #AdvisorAnalyst #Podcast #LiteracyMatters #Impact #GameOnForLiteracy

Market uncertainty, rate cuts, U.S. exceptionalism, and a potential Canadian dollar shock—are we prepared for 2025? In this must-watch episode, Pierre Daillie sits down with Ilan Kolet, Institutional Portfolio Manager at Fidelity’s Global Asset Allocation Team, to dissect the most pressing questions investors and advisors are facing right now.What happens if a 25% tariff is imposed on Canadian exports?Is the Canadian dollar heading for a collapse?Why are U.S. equities still the best game in town?Have investors misunderstood the bond market?Should portfolios brace for a new investment paradigm?"A 25% tariff on Canadian exports could trigger as much as a 6% GDP shock, a 3% surge in inflation, and send the Canadian dollar plummeting to 52 cents." — Ilan KoletEpisode Highlights & Timestamps00:00:00 Intro & Welcome – Kicking off 2025 with uncertainty00:02:00 A Market on Fire – Why a balanced portfolio returned 20% in 202400:03:00 The Elephant in the Room: Political Instability & Tariffs00:07:00 Canada’s Hidden Economic Weakness & The BoC's Dire Post-Tariff Simulation00:13:00 Inflation or Deflation? What a Shock Would Mean for Investors00:18:00 Are Investors Front-Running Inflation?00:22:00 Positioning for Uncertainty: How to Build Resilience into Portfolios00:27:00 The Bond Market Paradox: Higher for Longer?00:30:00 Why U.S. Equities Are Still the Best Bet in 202500:36:00 Rate Cuts: Canada Has to Cut, The Fed Wants to Cut00:42:00 Will the Canadian Dollar Go On Sale?00:49:00 The Rise of Alternatives & Why They’re Critical in This Market00:54:00 The ‘Magic’ of Portfolio Construction in Volatile Markets00:55:00 Closing Thoughts – An Elegant Solution for Complex Markets*****Get Fidelity's latest whitepaper: 11 Questions into 2025*****Listen to the full episode and get ahead of 2025’s biggest investment challenges!#Markets #Investing #Finance #Economy #InterestRates #PortfolioManagement #WealthManagement #Stocks #Bonds #Canada #USMarkets #Alternatives #Fidelity #Tariffs #MacroEconomics