David Burrows is back — and he’s bringing receipts. When he
joined In the Money with Amber Kanwar last year, his call that
Canada would behave more like a global market than a U.S.
tech-heavy one went viral… and then it played out. Now, the
Chairman & CIO of Barometer Capital Management, returns with
the same message, only louder: the market is shifting — and the
forces driving the new leadership are getting stronger. Burrows
explains why investors may need to look beyond the familiar tech
trade, and why commodities, financials, defence, and selective
international exposure are increasingly doing the heavy lifting
as we head deeper into 2026.
In the Mailbag, Burrows goes stock-by-stock across a packed
lineup. He starts with JP Morgan (JPM), explaining why he still
sees it as the best house in a financials-led neighborhood, then
tackles TD (TD) after its massive run and why he’s wary of
second-guessing a bull market in banks. From there, he goes
global with Banco Santander (SAN), breaking down why it’s become
a core holding and what investors miss when they only focus on
the Canadian Big Five. He then digs into defence — including
Kratos (KTOS) and AeroVironment (AVAV) — along with broader
exposure through ETFs like iShares U.S. Aerospace & Defense
ETF (ITA), Invesco Aerospace & Defense ETF (PPA), and iShares
European Defence ETF (EUAD). In industrials, he weighs in on
Canadian Pacific Kansas City (CP) and CN Rail (CN), plus Canadian
names like Aecon (ARE) and TFI International (TFII), and explains
why “broken charts” can remain traps without a true trend
reversal. He also touches on mega-cap tech exposure through
holdings like Alphabet (GOOGL), NVIDIA (NVDA), Broadcom (AVGO),
and Lam Research (LRCX), before pivoting to healthcare’s
improving breadth via the SPDR S&P Biotech ETF (XBI), leaders
like Eli Lilly (LLY), and renewed momentum in Moderna (MRNA). He
closes the mailbag with commodities, discussing Alamos Gold (AGI)
and M&A chatter in miners Glencore (GLEN) and Rio Tinto
(RIO), and why these cycles often last longer than investors
expect.
In Pro Picks, Burrows revisits ideas that have already delivered
— including JP Morgan (JPM), Fairfax Financial (FFH), and Agnico
Eagle (AEM) — and explains why big gains don’t automatically mean
it’s time to sell in a structural bull market. He then delivers a
commodity-heavy set of high-conviction picks built for what he
sees as the next phase of leadership: Hudbay Minerals (HBM) as a
way to play tightening copper supply, Wheaton Precious Metals
(WPM) for lower-volatility precious-metals exposure with silver
leverage, and Headwater Exploration (HWX) as a low-cost way to
position for energy catching a stronger bid. If last year was the
preview, Burrows argues this year is the confirmation — the
market’s centre of gravity is moving, and investors who adapt
early can still be ahead of the crowd.
Timestamps
00:00 intro
03:05 David’s viral clip on Canada
05:00 What’s going to outperform in 2026? What are the right
neighbourhoods?
07:40 David’s approach and how he recognized the market
shift
11:00 Does this mean the Magnificent 7 is dead?
13:15 Venezuela fear
14:50 Trump’s threat on the Fed
16:30 Is the sell America trade alive in 2026?
17:50 Does each notch of uncertainty further embolden gold?
19:10 Do financials still have leadership?
21:35 ITM Mailbag: JP Morgan stock (JPM)
24:35 TD Bank stock (TD)
29:00 Banco Santander stock (SAN)
32:00 Defence stocks (KTOS, AVAV)
36:05 CP Rail & CN Rail stocks (CP, CNR)
37:20 Aecon stock (ARE.TO)
38:30 TFI International stock(TFII)
41:10 Healthcare stocks (LLY, MDNA)
43:05 Alamos Gold (AGI)
45:10 Glencore/Rio-Tinto rumour (GLEN.LON, RIO.LON)
46:40 David’s Past & Pro Picks (JPM, FFH, AEM, WPM, HWX)
58:30 Why is CNQ underperforming?
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.
With tools like the ETF Compare Tool and Market Insights, you can
easily identify ETFs that hold your favourite stocks, match your
risk tolerance, and align with your investment goals. To explore
these tools, head to https://www.bmoetfs.com and check out the
Tools section.
Pro Picks is brought to you by ATB Financial. Visit
https://ATB.com/inthemoney for more information
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 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, market analysis, and
timely investing insights. Hosted by business journalist Amber
Kanwar, each episode features interviews with top portfolio
managers and financial experts. 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
#IntheMoney #Investing #StockMarket #CanadianInvesting
#FinancialNews
Kommentare (0)
Melde dich an, um einen Kommentar zu schreiben.