In the Money with Amber Kanwar

Jeff Tory, a Canadian investment professional and small-cap specialist at Pembroke Management, examines whether Canada’s neglected small-cap market can make a comeback. He discusses pension fund departures, scarce IPOs, private-market hype, and the search for the next Shopify. He also assesses Cineplex, 5N Plus, EQB, CAE, Stingray, AGF Management, and Western Investment.

Benoit Gervais, Managing Director and co-head of Mackenzie Investments’ Resources and Energy Evolution Team, brings 25 years of resource-investing experience. He discusses shifting from gold toward energy and cyclicals, the outlook for oil, uranium, Canadian gas, copper, steel and cement, and the case for global diversification. He also examines Barrick, Valero and TotalEnergies before spotlighting PetroRio, Venture Global and voestalpine.

The U.S. midterm elections are over, but what do the results mean for your portfolio? With Washington's political landscape shifting, investors are weighing the implications for stocks and the broader market. Could the election results set the stage for the next leg of the rally, and is healthcare emerging as one of the biggest opportunities?On this episode of In the Money with Amber Kanwar, Paul MacDonald, President & Co-Chief Investment Officer at Harvest ETFs and head of Canada's largest healthcare ETF, explains why the midterms could be a turning point for healthcare stocks. Historically, the broader market has been positive 85% of the time six months after the midterms and 100% of the time one year later. But beyond politics, a bigger shift is underway. As investors rotate away from the crowded AI trade, money is flowing into healthcare, a sector that has spent years out of favour but is now showing signs of a comeback.With healthcare valuations still attractive and earnings growth expected to accelerate in 2027, MacDonald makes the case for why the rally may just be getting started. He breaks down the impact of shifting U.S. healthcare policy, why medical technology stocks could offer some of the best opportunities and whether pharmaceutical companies can keep outperforming.In the Mailbag, he weighs in on Pfizer (PFE), Moderna (MRNA), CVS Health (CVS), Bausch Health (BHC), Zoetis (ZTS) and Boston Scientific (BSX), including which beaten-down stocks could recover and which may still be value traps.In Pro Picks, MacDonald reveals three healthcare stocks he believes offer compelling opportunities: Stryker (SYK), AbbVie (ABBV) and UnitedHealth Group (UNH). He explains why he's sticking with these names despite recent challenges and where he sees the potential for further upside.Timestamps0:00 Trailer2:07 Intro: healthcare’s comeback4:33 Paul MacDonald on the midterms and healthcare5:58 Is healthcare still an opportunity?7:59 Healthcare policy: what could change?10:45 How government healthcare programs affect insurers12:16 How the Harvest healthcare fund is managed13:24 Which healthcare subsectors look most attractive?14:45 Why the fund lagged the healthcare index16:29 Healthcare’s role in a diversified portfolio18:45 Healthcare earnings outlook for 202719:17 Mailbag: Pfizer’s pipeline and valuation (PFE)25:14 Mailbag: Moderna’s cancer-vaccine opportunity (MRNA)29:06 Mailbag: CVS and the proposed drugstore spinoff (CVS)32:58 Mailbag: Bausch Health and Zoetis (BHC, ZTS)37:53 Mailbag: Boston Scientific and MedTech competition (BSX)41:15 Pro picks: Stryker and robotic surgery (SYK)44:56 Pro pick: AbbVie after Humira (ABBV)48:00 Pro pick: UnitedHealth’s turnaround (UNH)51:49 Closing Bell: Paul’s love of the gymSponsorsThanks to our partners at Guardian Capital LP. Following Conviction, Not the Crowd.Contact your advisor today and ask about Guardian Capital’s Funds and ETFs and visit their website for more information at https://guardiancapital.comATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit https://ATB.com/inthemoney for more information.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.Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.comAll the charts you’ll see today are sponsored by Wealthsimple Trade. The self-directed trading platform built for active traders in Canada. Learn more at  https://app.wealthsimple.com/74rd/83ftma8xSupport for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://www.eqbank.ca/The Closing Bell is sponsored by The Haliburton Post House: private executive retreats in Ontario's Haliburton Highlands. Reserve your Fall 2026 or Spring 2027 dates at The Haliburton Post House. Mention In the Money for $1000 off your reservation! [email protected] 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

The AI trade is getting tired, inflation isn't going away, and some of the market's biggest winners may no longer be the best places to invest. Is it time to get defensive? On this episode of In the Money with Amber Kanwar, top-performing stock picker Lyle Stein, President of  Forvest Canada returns with a warning for investors: "This is a time to be more cautious than optimistic."After delivering some of the show's strongest stock picks last year, Stein is taking a more selective approach. He's trimmed his exposure to precious metals, sold Google (GOOGL), and remains deeply skeptical of Canadian banks and big oil producers. He argues that investors should stop chasing stocks at record highs and start looking for quality companies that have fallen out of favour. With the AI trade losing momentum and money rotating into other parts of the market, where will the next opportunities emerge?Stein explains why he's favouring bonds and dividend income, why he still sees a role for gold despite its recent plunge, and why pipelines offer a more attractive way to play Canadian energy than the major oil producers. He also makes the case for owning AI-related stocks that generate strong cash flow rather than companies spending heavily to build out the technology.In the Mailbag, Stein explains why he's buying the dip in pipeline giant Enbridge (ENB), arguing that its attractive dividend yield and stable cash flows make it a compelling way to invest in Canadian energy without taking on the same risks as oil producers. He also reveals why he recently bought Thomson Reuters (TRI) following the software sector selloff, whether Cameco (CCO) is a buying opportunity after its sharp decline, and why he's steering clear of Canadian oil heavyweights Suncor (SU), Canadian Natural Resources (CNQ) and Cenovus (CVE). Plus, is the selloff in Alamos Gold (AGI) an opportunity or a warning sign for gold investors?In Pro Picks, Stein revisits last year's successful recommendations, including First Majestic Silver (AG), Sprott and Peyto Exploration (PEY), and explains what he's sold and what he continues to own. He then reveals his latest high-conviction ideas: gold producer Agnico Eagle (AEM), semiconductor company Micron Technology (MU), and target-maturity U.S. Treasury inflation-protected securities ETFs designed to help investors preserve purchasing power.Timestamps00:00 Trailer1:55 Welcome, merch store and episode preview3:52 Lyle Stein returns: cautious after a messy October5:12 Consumer staples and healthcare: is the trade over?6:08 Where does money from the AI trade go next?7:37 Income: stocks vs. bonds and the 8% return target9:34 Gold: why Lyle trimmed from 25% of portfolios12:33 Canadian banks: why he doesn't own them14:32 Is the Canadian market cheap? Canada vs. the US15:40 ITM Mailbag: Enbridge and the pipelines (ENB19:11 Interest rates, inflation and the Bank of Canada hike21:36 Thomson Reuters after the "SaaSpocalypse" (TRI)25:48 Cameco and uranium (CCO)28:16 Suncor, CNQ and Cenovus (SU, CNQ, CVE)31:28 Alamos Gold and how to play gold (AGI)34:12 Pro picks: check-in on last year's silver trades (AG, SII)36:34 Why gas names like Peyto outperformed (PEY)38:02 Vermilion Energy (VET)40:24 Pro pick: Agnico Eagle (AEM)42:10 Pro pick: Micron (MU)47:08 Pro pick: target-date TIPS ETFs51:42 Closing Bell: soccer with the over-50sSponsorsThanks to our partners at Guardian Capital LP. Following Conviction, Not the Crowd.Contact your advisor today and ask about Guardian Capital’s Funds and ETFs and visit their website for more information at https://guardiancapital.comATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit https://ATB.com/inthemoney for more information.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.Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.comAll the charts you’ll see today are sponsored by Wealthsimple Trade. The self-directed trading platform built for active traders in Canada. Learn more at  https://app.wealthsimple.com/74rd/83ftma8xSupport for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://www.eqbank.ca/The Closing Bell is sponsored by The Haliburton Post House: private executive retreats in Ontario's Haliburton Highlands. Reserve your Fall 2026 or Spring 2027 dates at The Haliburton Post House. Mention In the Money for $1000 off your reservation! [email protected] 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

Ivana Delevska, founder and CIO of Spear Invest, specializes in technology, semiconductors and AI. She explores whether the AI stock sell-off is nearing its bottom, what Anthropic’s potential IPO could mean, and why CPUs, optics and semiconductor equipment may lead the next rally. She also weighs Meta, Google, CoreWeave, Marvell, KLA and Lam, then highlights Astera Labs, Lumentum and Arm.

Canada vs. The World: Where should investors put their money now? Canadian stocks have outperformed the U.S. over the past year, but after a powerful rally in banks, energy and materials, is there still room to run? Or are the better opportunities now overseas? With valuations climbing, bond yields rising and investors questioning the dominance of U.S. equities, the global investment landscape is shifting.In this special episode of In the Money with Amber Kanwar, recorded in Vancouver, we're staging the great investment showdown with Kevin McSweeney and Matthew Strauss, Co-Heads of Equities at CI Global Asset Management. Kevin makes the case for Canada as a potential turnaround story, while Matthew takes us around the world to uncover opportunities in Europe, Asia and emerging markets. They discuss whether Canada's renewed focus on energy, infrastructure and attracting foreign investment could mark a turning point for the economy—and whether global investors are actually putting money behind the Canadian comeback.But after a remarkable rally, are Canadian stocks getting too expensive? Kevin explains why he's taking profits in Canadian banks, where he's still finding value in energy and why rising interest rates could actually work in Canada's favour. Matthew makes the case for international diversification, highlighting opportunities in European banks, emerging markets and countries undergoing their own economic transformations. And what about the biggest investment theme of all—artificial intelligence? With the Magnificent Seven dominating U.S. markets, both managers explore how to invest in the AI revolution beyond Silicon Valley. From Canadian power producers and engineering firms to semiconductor manufacturers in Taiwan and South Korea, they reveal where the next wave of AI investment could create opportunities. Finally, with U.S. bond yields and the dollar moving higher, could Canada emerge as a relative safe haven for investors? Or will international markets offer better returns in the years ahead?Timestamps0:00 Trailer: Canada vs. the world1:51 Welcome from Vancouver3:57 Meet Kevin McSweeney and Matthew Strauss4:56 Why Canadian equities outperformed7:09 International markets: commodities, EM and the AI supply chain8:58 Financials and energy: are they too expensive?11:11 Energy at home and abroad: Argentina shale and pipelines13:43 Trimming Canadian winners and redeploying into laggards14:35 European banks: Société Générale and UniCredit20:00 Canada as a turnaround story23:23 Playing AI in Canada: Celestica, power and engineering firms27:20 Playing AI internationally: ASML, Korea, Taiwan and Japan29:16 China's AI race and Alibaba31:28 Is foreign money really flowing into Canada?34:28 Emerging markets and rising US yields35:55 Could Canada be a haven in a US bond tantrum?37:53 Where to find income38:19 Closing Bell: what do you do for fun?SponsorsThis episode is sponsored by CI Global Asset Management. For more information visit: https://www.cifinancial.com/ci-gam/ca/en/index.htmlThanks to our partners at Guardian Capital LP. Following Conviction, Not the Crowd. Contact your advisor today and ask about Guardian Capital’s Funds and ETFs and visit their website for more information at https://guardiancapital.comATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit https://ATB.com/inthemoney for more information.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.Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.comAll the charts you’ll see today are sponsored by Wealthsimple Trade. The self-directed trading platform built for active traders in Canada. Learn more at  https://app.wealthsimple.com/74rd/83ftma8xSupport for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://www.eqbank.ca/The Closing Bell is sponsored by The Haliburton Post House: private executive retreats in Ontario's Haliburton Highlands. Reserve your Fall 2026 or Spring 2027 dates at The Haliburton Post House. Mention In the Money for $1000 off your reservation! [email protected] 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.IMPORTANT DISCLAIMERS: This segment of In the Money with Amber Kanwar with Kevin McSweeney & Matthew Strauss  has been paid in part by CI Global Asset Management. This podcast is provided as a general source of information. The opinion and information provided in this discussion are solely those of the speaker(s) and are not to be used or construed as personal, legal, accounting, taxation or investment advice, or as an endorsement or recommendation of any entity or security discussed or provided by CI Global Asset Management.  Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund and exchange-traded fund (ETF) investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compound total returns net of fees and expenses payable by the fund (except for figures of one year or less, which are simple total returns) including changes in security value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds and ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF ...

Is Wall Street getting the AI threat to software stocks all wrong? When fears of a "SaaSpocalypse" sent software stocks plunging, Canadian tech company Kinaxis (KXS.TO) lost roughly 30% of its value. But according to its new CEO, Razat Gaurav, the business was actually getting stronger. With revenue doubling since 2023 and growing demand from global customers including General Motors, Unilever and Merck, Gaurav believes Kinaxis has the potential to double or even triple in size. He joins Amber Kanwar to explain why AI won't replace the company's supply chain software, how it's using AI to accelerate growth, and why investors may be misunderstanding the future of enterprise software.Gaurav also discusses the economics of AI, including rising token usage, whether AI companies are subsidizing their products, and the potential for over investment to create another tech bubble. He explains why Kinaxis is increasing R&D spending while maintaining a debt-free balance sheet, how a partnership with Nvidia is making its technology dramatically faster, and what tariffs, geopolitical tensions and global supply chain disruptions mean for customer demand.Plus, could Kinaxis be headed for a U.S. stock exchange—or become Canada's next big tech takeover? Gaurav addresses plans for a potential U.S. dual listing, acquisition opportunities, takeover speculation and why he believes the company's biggest growth opportunities are still ahead.Timestamps00:00 Trailer 02:07 Intro04:05 What Kinaxis Does for Global Companies07:11 How AI and Changing Consumer Habits Reshape Supply Chains09:26 A New CEO Meets the “SaaSpocalypse”11:33 Why Kinaxis’ Business Fundamentals Stayed Strong14:13 Can You Vibe-Code a Supply Chain Platform?18:33 What LLMs Can—and Can’t—Do for Enterprise Software20:30 The Enterprise Tech Stack: Systems of Record, Semantics, and Context23:10 Why One Merck Change Can Trigger 18,000 Recalculations26:59 AI, Pricing, and Kinaxis’ Profit Margins29:31 Why Kinaxis Pricing Isn’t Based on Seats31:37 Token Maxing: AI Costs, Model Choices, and Productivity37:36 Why Kinaxis Isn’t Borrowing to Chase Growth41:57 AI Investment Booms, Bubbles, and Lessons from Tech History44:22 Stock Market Fears vs. Business Reality47:48 Kinaxis’ Canadian Roots and Global Business50:40 Kinaxis’ Plans for a U.S. Dual Listing51:35 NVIDIA Partnership: Faster Supply Chain Optimization52:48 Why Kinaxis Is Focused on Organic Growth59:59 Closing Bell: Hiking, Sailing, Travel, and WineSponsorsThanks to our partners at Guardian Capital LP. Following Conviction, Not the Crowd. Contact your advisor today and ask about Guardian Capital’s Funds and ETFs and visit their website for more information at https://guardiancapital.comATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit https://ATB.com/inthemoney for more information.Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.comAll the charts you’ll see today are sponsored by Wealthsimple Trade. The self-directed trading platform built for active traders in Canada. Learn more at  https://app.wealthsimple.com/74rd/83ftma8xFor 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.Support for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://www.eqbank.ca/The Closing Bell is sponsored by The Haliburton Post House: private executive retreats in Ontario's Haliburton Highlands. Reserve your Fall 2026 or Spring 2027 dates at The Haliburton Post House. Mention In the Money for $1000 off your reservation! [email protected] 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

Inflation is reshaping global markets, and Canada may be uniquely positioned to benefit. Veteran value investor Kim Shannon, Founder and Co-Chief Investment Officer of Sionna Investment Managers, believes we're only five years into an inflationary cycle that could last another 15 years or longer. History suggests Canadian stocks have a significant advantage in this environment. When inflation rises above 4%, Canada has historically outperformed the U.S. by an average of 8%. After correctly predicting the TSX would outperform the S&P 500 last year, Shannon explains why she believes the golden era for value investing is far from over, why rising bond yields could put pressure on expensive growth stocks, and where she's finding opportunities in Canadian equities despite the market's impressive rally.In the Mailbag, Shannon weighs in on whether Cenovus Energy (CVE.TO) still has room to run after doubling in value, whether Canadian energy stocks can continue their rally, and if Canadian banks like Bank of Nova Scotia (BNS.TO) and TD Bank (TD.TO) have become too expensive. She also discusses why Fairfax Financial (FFH.TO) could offer significant upside, whether Berkshire Hathaway (BRK.B) remains attractive, the AI disruption fears weighing on engineering firms WSP Global (WSP.TO) and Stantec (STN.TO), and whether rising bond yields are creating opportunities in pipelines and telecom stocks.In Pro Picks, Shannon reveals three Canadian stocks she believes offer significant upside in an inflationary world. She's sticking with Barrick Mining (ABX.TO), a pick from last year that's already gained 47%, but which she believes remains deeply undervalued thanks to one of the world's most promising gold discoveries. She's also finding opportunity in the wreckage of the AI-driven software selloff, making the case for CGI (GIB.A.TO), and sees a potential turnaround in beaten-down utility Algonquin Power & Utilities (AQN.TO), which she believes could climb from roughly $7 to $12 a share. Plus, we revisit her stellar picks from last year, including Bank of Nova Scotia (BNS.TO), up 52%, and Cenovus Energy (CVE.TO), which has doubled, to see what's behind those gains and whether there's still upside ahead.Timestamps0:00 Trailer 2:15 Intro2:55 Is it still a golden era for value investors? 6:27 How inflation affects value stocks and Canadian equities8:22 Is Canada still cheap after its recent gains?9:36 Bond yields, stagflation, and market risk12:48 Value investing, dividends, and income15:51 ITM Mailbag: Is Cenovus still a buy? (CVE)19:36 Cenovus, oil supply, and Canada’s energy outlook22:05 Canadian bank valuations and portfolio positioning (TD, BNS)26:13 Life insurers and Fairfax (FFH)29:10 Berkshire Hathaway and Kim’s Warren Buffett story (BRK.B)33:37 Engineering stocks, AI, and value traps (WSP, STN)37:11 Pipelines: opportunity or caution?38:53 Past & Pro Picks: (ABX, GIB.A, AQN)53:57 The Closing Bell: Kim’s favourite ways to unwind55:51 Episode wrap-up and what’s nextSponsorsThanks to our partners at Guardian Capital LP. Following Conviction, Not the Crowd.Contact your advisor today and ask about Guardian Capital’s Funds and ETFs and visit their website for more information at https://guardiancapital.comATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit https://ATB.com/inthemoney for more information.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.Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.comAll the charts you’ll see today are sponsored by Wealthsimple Trade. The self-directed trading platform built for active traders in Canada. Learn more at  https://app.wealthsimple.com/74rd/83ftma8xSupport for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://www.eqbank.ca/The Closing Bell is sponsored by The Haliburton Post House: private executive retreats in Ontario's Haliburton Highlands. Reserve your Fall 2026 or Spring 2027 dates at The Haliburton Post House. Mention In the Money for $1000 off your reservation! [email protected] 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

Canada is on the cusp of what could be a generational investment opportunity. After years of underinvestment, billions of dollars are flowing toward infrastructure, defence, energy and data centres—and some of the biggest beneficiaries may still be overlooked by investors. Andrey Omelchak, President, CEO & CIO at LionGuard Capital, believes Canada's economic transformation is just getting started. After outperforming both the TSX and Nasdaq without relying on big tech or mining stocks, he explains why he's so bullish on Canada's future, where he's finding opportunities and which companies could deliver outsized returns. In the Mailbag, Andrey weighs in on whether the pullback in 5N Plus (VNP.TO) is a major buying opportunity, whether AI disruption fears are overblown for Stantec (STN.TO) and Lumine Group (LMN.V), and why he's excited about Electrovaya (ELVA.TO) despite its volatility. He also revisits Propel Holdings (PRL.TO) following the collapse in goeasy (GSY.TO), assesses the upside in Mattr (MATR.TO) after its massive rally and explains why he sees more growth ahead for Firan Technology Group (FTG.TO).In Pro Picks, Andrey reveals three stocks positioned to benefit from a surge in infrastructure, defence and data centre spending: Magellan Aerospace (MAL.TO), Enerflex (EFX.TO) and Badger Infrastructure Solutions (BDGI.TO). He also revisits his previous picks, including Calian Group (CGY.TO), Canaccord Genuity (CF.TO) and Bird Construction (BDT.TO), which has surged 155% since his last appearance. Is there still upside, or is it time to take profits?Timestamps00:00 Trailer01:55 Intro03:32 Investing Beyond the Broad Market04:08 How Andrey Chooses Investment Themes06:08 The Evidence Behind Canada’s Infrastructure Shift07:44 Is the Opportunity Still Under the Radar?09:23 Separating Investment Hype from Data12:26 ITM Mailbag: 5N Plus: Critical Metals and Space (VNP)15:44 Stantec: AI Fears and Valuation (STN)18:10 Electrovaya: Batteries, Data Centers, and Growth (ELVA)23:48 Lumine Group: AI Risks and Compounding (LMN)30:44 Propel Holdings: Why It’s Different from GoEasy (PRL)36:28 Matter: Infrastructure Demand and Recovery (MATR)38:06 Firan Technology : Aerospace and Defense Demand (FTG)41:00 Andrey’s Past & Pro Picks (CGY, BDT, CF, MAL, EFX, BDGI)60:04 Closing Bell: Family Time and Road TripsSponsorsThanks to our partners at Guardian Capital LP. Following Conviction, Not the Crowd. Contact your advisor today and ask about Guardian Capital’s Funds and ETFs and visit their website for more information at https://guardiancapital.comATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit https://ATB.com/inthemoney for more information.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.Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.comAll the charts you’ll see today are sponsored by Wealthsimple Trade. The self-directed trading platform built for active traders in Canada. Learn more at  https://app.wealthsimple.com/74rd/83ftma8xSupport for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://www.eqbank.ca/The Closing Bell is sponsored by The Haliburton Post House: private executive retreats in Ontario's Haliburton Highlands. Reserve your Fall 2026 or Spring 2027 dates at The Haliburton Post House. Mention In the Money for $1000 off your reservation! [email protected] 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

Cole Smead got Canadian energy right when few investors wanted anything to do with the sector. Now, after some of his biggest stock picks have delivered enormous returns, is there still money to be made? Cole was one of the top-performing stock pickers in our mid-year review, claiming both the number one and number three spots thanks in large part to his winning Canadian energy bets. Now, he returns to explain why he believes the Canadian oil trade is far from over, even after a massive rally. While some of the biggest bargains in Canadian energy have disappeared, Smead believes the sector still has significant upside. But investors looking for the next big payoff may need patience rather than chasing quick gains.He breaks down why Cenovus Energy (CVE.TO) remains one of his highest-conviction holdings, what its acquisition of Athabasca Oil (ATH.TO) reveals about the value of Canadian oil sands assets, and why he thinks consolidation could eventually leave Canada with just three major oil producers. He also weighs in on the widening discount for Canadian crude, the outlook for oil prices amid geopolitical tensions, and why he's avoiding the AI spending boom in favour of businesses generating enormous free cash flow. Plus, why this outspoken American investor is expanding his business into Canada.In the Mailbag, Cole answers viewer questions about whether Athabasca Oil (ATH.TO) could attract a competing bid, whether Canadian Natural Resources (CNQ.TO) is falling behind its peers, and whether there's more upside in Whitecap Resources (WCP.TO) following its Veren acquisition. He also shares his outlook for Tamarack Valley Energy (TVE.TO), Baytex Energy (BTE.TO), Strathcona Resources (SCR.TO), and Birchcliff Energy (BIR.TO), explaining where he sees opportunities, where he's cautious, and why capital allocation matters more than ever.In Pro Picks, Cole revisits his previous recommendations, including Strathcona Resources (SCR.TO), Pandora (PNDORA.CO) and West Fraser Timber (WFG) before revealing three investment ideas: International Petroleum (IPCO.TO), a Canadian energy company with ambitious oil sands growth plans; Barclays (BARC.L), a European bank he believes could benefit from improving profitability and industry consolidation; and Auto Trader Group (AUTO.L), a beaten-down British business where he sees a potential opportunity for patient investors.Vote for us! https://vote.signalaward.com/PublicVoting#/2026/shows/genre/money-financehttps://vote.signalaward.com/PublicVoting#/2026/shows/genre/business-people-entrepreneurs-shaping-culture Timestamps0:00 Trailer2:03 Intro3:22 Cole Smead on expanding into Canada5:38 Speaking candidly about Canadian investing7:58 The H&R REIT deal and shareholder value11:37 Cole’s investment approach and portfolio13:10 Why he avoids big tech and capex cycles15:44 Canadian oil prices and pipeline constraints18:37 ITM Mailbag: Athabasca takeover offer, is another bid coming? (ATH)25:27 Greenfire, Strathcona, and oil consolidation28:03 Canadian Natural Resources and capital allocation (CNQ)30:22 Whitecap, gas assets, and oil investments (WCP)38:33 Tamarack Valley: patience and returns (TVE)39:55 Baytex Energy (BTE)43:17 Enbridge, and pipelines46:18 Birchcliff and the gas business48:00 Cole’s past picks: Strathcona, Pandora, West Fraser (SCR, PNDORA, WFG)1:00:17 Cole’s Pro Picks: International Petroleum, Barclays, Auto Trader (IPCO, BARC, AUTO)1:17:58 Closing Bell: Cole’s hobbies and closing conversationSponsorsThank you to our partners at ATB Financial. ATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit https://ATB.com/inthemoney for more information.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.Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.comAll the charts you’ll see today are sponsored by Wealthsimple Trade. The self-directed trading platform built for active traders in Canada. Learn more at  https://app.wealthsimple.com/74rd/83ftma8xSupport for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://www.eqbank.ca/The Closing Bell is sponsored by The Haliburton Post House: private executive retreats in Ontario's Haliburton Highlands. Reserve your Fall 2026 or Spring 2027 dates at The Haliburton Post House. Mention In the Money for $1000 off your reservation! [email protected] 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