Energy stocks are down over the past month despite the war in
Iran. Tech stocks have come roaring back. But this hedge fund
manager says the market has it all wrong. Jason Landau, Group
Head, Executive Vice President & Portfolio Manager at Waratah
Capital Advisors believes “the left tail in the market is totally
mispriced” and says “the best hedge in the market today is being
long oil.”
On this episode of In the Money with Amber Kanwar, Landau breaks
down the two themes dominating the market right now, oil and AI.
He tells us why markets may be underestimating geopolitical risk,
how he’s positioning around oil, and why Brent crude—not WTI—is
his preferred hedge. He also explains how to think about your
positioning if the market is wrong on the Iran trade and why
Canada could be a major long-term winner from global energy
insecurity. Then, he gets into why tech is rallying, dives into
the AI boom and tells us where he sees opportunity—and
risk—across semiconductors and software.
In the Mailbag, Landau shares his view on Lululemon Athletica
(LULU) as a long-term turnaround story, breaks down the growth
runway for Dollarama (DOL.TO), and weighs in on NVIDIA (NVDA) and
the broader chip trade. He highlights opportunities in
semiconductor equipment names like ASML Holding (ASML) and
Applied Materials (AMAT), as well as GlobalFoundries (GFS). On
the energy side, he discusses positioning in Cenovus Energy
(CVE.TO) and Tamarack Valley Energy (TVE.TO), and gives his take
on airlines like Air Canada (AC.TO).
In Pro Picks, Landau’s top ideas include an array of eclectic
names. Cheniere Energy (LNG) as a play on global LNG demand and
energy security, SharkNinja (SN) as a consumer disruptor driven
by innovation and product expansion, and Welltower (WELL) as a
long-term beneficiary of aging demographics and pricing power in
senior housing.
Timestamps
00:00 Trailer
02:30 Intro
04:20 Jason’s approach to investing
06:10 Tech vs. Commodities
08:00 Oil risk is mispriced
11:30 Best hedge in market today is being long oil
15:25 M&A in the energy sector
17:45 The tech trade is back, why?
19:20 Software, you just don’t have to be there
21:00 Where to look in semiconductors
23:10 the long-short strategy (in tech)
27:50 ITM Mailbag: Lululemon stock(LULU)
31:50 Dollarama stock (DOL)
36:50 Chipmakers (NVDA, GFS)
40:00 Cenovus stock (CVE)
42:00 Air Canada stock (AC)
45:20 Jason’s Pro Picks (LNG, SN, WELL)
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. For more
information on ATB Cormark Capital Markets visit
https://ATB.com/inthemoney
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DISCLAIMERS
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,
Tamarack Valley Energy, Dollarama, Micron, Intel and Nike 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: questions@inthemoneypod.com
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#FinancialNews
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