The Invested

In this episode, Matt Goodwin, Head of Fixed Income Product Strategy, discusses how advisors can navigate persistent market volatility through strategic use of liquidity tools, short-term fixed income, and inflation-protected ETFs. He examines the shifting role of cash in portfolio construction and outlines the advantages of active management in short-duration credit. Matt also provides a framework for building resilient liquidity sleeves that can adapt to evolving market conditions. With heightened volatility, uneven rate expectations, and inflation that remains stubbornly elevated, today's environment demands a more deliberate and dynamic approach to liquidity.  This episode was recorded on July 22, 2025.

In this episode, Arup Datta, Head of the Mackenzie Global Quantitative Equity Team, discusses the newly launched US Alpha Extension fund and Canada-focused strategies designed to bring institutional quantitative investing to retail investors. He explains why Canadian and international markets offer compelling alpha potential and outlines how the team’s all-weather investment process – grounded in value, growth, and quality factors – seeks to deliver consistent alpha across market cycles. Arup also shares how AI and machine learning is enhancing the team’s stock selection process, and he reflects on the strong performance and emerging value opportunities in US large caps.  This episode was recorded on July 2, 2025.

In this episode, Konstantin Boehmer, Portfolio Manager and Head of Fixed Income, shares his outlook on central bank policy heading into the summer. He discusses the Fed's cautious stance as it navigates persistent inflation and slowing growth, highlighting the critical role of labour market data in shaping future decisions. Konstantin also examines the evolving market perception of the “One Big Beautiful Bill,” explaining why fiscal concerns may be overstated and how bond markets are adjusting. Finally, he explores the potential for future rate cuts by the Bank of Canada and flags key risks on the horizon, from rising geopolitical tensions to renewed tariff pressures. This episode was recorded on June 19, 2025.

In this episode, Laurent Boukobza, ETF Strategist at Mackenzie Investments, discusses how covered call and active international equity ETFs are being used to generate income and manage risk amid higher rates and global uncertainty. He shares insights on the benefits of Canadian-listed active ETF strategies, the case for international diversification, and best practices for evaluating ETF liquidity.  This episode was recorded on June 16, 2025.

In this episode, Dustin Reid, Chief Fixed Income Strategist, provides a timely analysis of recent US fiscal and monetary policy developments. Dustin examines the Fed's decision to hold rates steady while highlighting ongoing debates around economic growth, inflation pressures, and the impact of tariffs. He also provides an update on the "One Big Beautiful Bill" explaining how the Congressional Budget Office's relatively deficit-neutral score has helped ease concerns in the bond market. Finally, Dustin shares his views on the growing concerns surrounding the US dollar's safe-haven status amid rising fiscal imbalances and geopolitical risks.    This episode was recorded on June 19, 2025. 

In this episode, Shah Khan, Portfolio Manager and Co-Lead of the Mackenzie Bluewater Team, discusses the implications of market concentration in US mega-cap tech and Canada's resource-heavy sectors. He outlines how his team's disciplined, quality-focused strategy that emphasizes durable growth businesses, positions them to navigate economic slowdowns effectively. Shah also shares insights into the team's buy/sell framework, the evolving role of AI in portfolio construction, and why he maintains a cautious stance on the Canadian consumer amid elevated debt levels and persistent interest pressures.  This episode was recorded on June 12, 2025.

In this episode, Lesley Marks, Chief Investment Officer, unpacks the latest developments in US-China trade relations and offers her perspective on the progress of key trade agreements. She also discusses the contentious "One Big Beautiful Bill" and explores its potential impact on capital markets and the broader economy. Finally, Lesley shares her outlook for the US and Canadian economies in the second half of the year, highlighting the key risks and reasons for cautious optimism.  This episode was recorded on June 12, 2025. 

ETF investing involves far more than just the MER. In this episode, Markus Otema, Executive Director at CIBC Capital Markets, discusses the often-overlooked drivers of ETF trading costs and their impact on trade execution. He explains how bid-ask spreads can fluctuate based on ETF pricing and market conditions and explores the structural mechanisms that influence ETF costs and liquidity. Markus also shares his best practices for trading ETFs, including the significance of understanding the ETF’s underlying assets and the potential pitfalls of trading during periods of market volatility. This episode was recorded on May 22, 2025.

In this episode, Caroline Edwards, Senior Client Portfolio Manager at Putnam Investments, offers a comprehensive overview of the newly launched Mackenzie US Value Fund. She explains the fund’s investment philosophy, which centers on a relative value approach to stock selection and details the team’s bottom-up idea generation process – an approach that combines fundamental and qualitative research to build a well-diversified and resilient opportunity set. Caroline also explains how the fund serves as a strong complement to the Mackenzie US All Cap Growth Fund, a strategy that Putnam has successfully managed for Mackenzie for over a decade. This episode was recorded on May 16, 2025.

In this episode, Matt Moody, Portfolio Manager and Head of the Mackenzie Ivy Team, shares how the team has been navigating today’s volatile markets with a disciplined, quality-first approach. He explains why Ivy’s long-term investment approach tends to shine during periods of market volatility, emphasizing the importance of focusing on the quality of the businesses the team invests in, rather than trying to predict short-term market movements. Matt also reflects on Warren Buffett’s decision to retire from Berkshire Hathaway and how his departure may impact the company’s future. This episode was recorded on May 9, 2025.