Value traps can destroy your portfolio—but the right turnaround
stock can be a game changer. How do you tell the difference?
On this episode of In the Money with Amber Kanwar, Paul Harris,
Portfolio Manager at Harris Douglas Asset Management, explains
his framework for buying underperforming stocks without getting
burned. He also shares why he wants nothing to do with SpaceX at
current valuations, arguing the company is priced far ahead of
its fundamentals despite the excitement around the space race.
The conversation also dives into Elon Musk's biggest
strengths—and what Paul believes are his biggest blind spots as
an operator and capital allocator.
In the Mailbag, Paul tackles some of the market's biggest
turnaround stories. He explains why he'd rather own MDA (MDA.TO)
than SpaceX to play the booming satellite industry, whether BCE
(BCE.TO) or TELUS (T.TO) offer compelling value after years of
underperformance, and why BlackBerry (BB.TO) still looks too
speculative despite its massive rally. He also breaks down
whether CAE (CAE.TO) can benefit from the global defense spending
boom, why he's warming up to FedEx (FDX) after its restructuring,
why Campbell's (CPB) is a classic value trap, and what it will
actually take for Nike (NKE) to become a successful turnaround
story. Along the way, he shares the key traits he looks for
before buying any beaten-down stock.
In Past Picks and Pro Picks, Paul revisits the stocks from his
last appearance—including Alphabet (GOOGL), which has been his
biggest winner, along with Stryker (SYK) and Canadian Natural
Resources (CNQ)—explaining why he continues to own them and where
he's taken profits. He then unveils three new high-conviction
ideas he believes are today's most compelling underperformers:
Meta (META), which he sees as one of the cheapest AI winners;
Microsoft (MSFT), where he believes fears about AI disruption
have gone too far; and EssilorLuxottica (EL.PA), an overlooked
global compounder with durable competitive advantages that the
market is mispricing.
Timestamps
00:00 Intro
02:20 Intro
03:20 Expect a lot more market & stock volatility
05:20 Searching for opportunities
09:10 Paul wouldn’t touch SpaceX with a 10-foot pole, or any Elon
Musk related stocks
12:35 Hamilton Enhanced Mixed Asset Allocation ETF- MIX
14:35 ITM Mailbag: MDA Space (MDA)
18:20 BCE stock (BCE)
23:20 Blackberry stock (BBY)
26:10 CAE stock (CAE)
29:10 FedEx stock (FDX)
32:20 Campbell’s (CPB)
34:30 Nike (NKE)
38:20 Paul’s Past & Pro Picks ( GOOGL, SYK, CNQ, META, MSFT,
EL)
Sponsors
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.
Pro Picks is brought to you by ATB Financial. Visit
https://ATB.com/inthemoney for more information
The mailbag is sponsored by Hamilton ETFs. For more information
on the Hamilton Enhanced Mixed Asset Allocation ETF visit:
https://hamiltonetfs.com/etf/mix/
Links
https://inthemoneypod.com/
https://instagram.com/inthemoneypod
https://facebook.com/profile.php?id=61569721774740
https://twitter.com/inthemoneypod
https://tiktok.com/@inthemoneypod
questions@inthemoneypod.com
DISCLAIMERS
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.
Hamilton ETFs Disclaimer
This podcast is sponsored by Hamilton ETFs. The information
contained herein should not be construed as investment advice or
considered as a recommendation to purchase or sell the mentioned
securities.
The index performance returns are for informational purposes only
and are not indicative of the future returns of the ETF. The
returns do not reflect any management fees, transaction costs or
expenses. Investors cannot invest directly in an index.
Certain statements contained in this podcast 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”, “will”, “should”, “expect”,
“anticipate”, “believe”, “intend” or other similar expressions
concerning matters that are not historical facts. Actual results
may vary from such forward-looking information. Hamilton ETFs
undertakes no obligation to update publicly or otherwise revise
any forward-looking statement, whether as a result of new
information, future events or other such factors which affect
this information, except as required by law.
Commissions, management fees and expenses all may be associated
with investments in exchange traded funds (ETFs) managed by
Hamilton ETFs. Please read the prospectus before investing. ETFs
are not guaranteed, their values change frequently, and past
performance may not be repeated.
Source: S&P Global, Solactive AG, Hamilton ETFs. Data from
November 18, 2004, to April 30, 2026.
The Solactive Hamilton Mixed Asset Index (SOLHAMMA) vs. the
S&P 500 Total Return Index with annual compounded total
returns and the potential impact of 1.25x leveraged exposure to
SOLHAMMA. This is discussed for informational purposes only and
intended to demonstrate the historical impact of the indexes
compound growth rate. It is not a projection of future index
performance, nor does it reflect potential returns on investments
in the ETF. Investors cannot directly invest in the index. All
performance data assumes reinvestment of distributions and
excludes management fees, transaction costs, and other expenses
which would have impacted an investor’s returns. SOLHAMMA data
prior to March 14, 2025, is hypothetical back-tested data using
actual historical market data. Actual performance may have been
different had the index been live during that period.
The S&P 500 Index (“Index”) and associated data are a product
of S&P Dow Jones Indices LLC, its affiliates and/or their
licensors and has been licensed for use by Hamilton ETFs 2025
S&P Dow Jones Indices LLC, its affiliates and/or their
licensors. All rights reserved. Redistribution or reproduction in
whole or in part are prohibited without written permission of
S&P Dow Jones Indices LLC. For more information on any of
S&P Dow Jones Indices LLC’s indices please visit
www.spdji.com. S&P is a registered trademark of Standard
& Poor’s Financial Services LLC (“SPFS”) and Dow Jones is a
registered trademark of Dow Jones Trademark Holdings LLC (“Dow
Jones”). Neither S&P Dow Jones Indices LLC, SPFS, Dow Jones,
their affiliates nor their licenso...
Kommentare (0)
Melde dich an, um einen Kommentar zu schreiben.