The Trump Trade is shaping the market right now. In this episode
of In the Money with Amber Kanwar we sit down with Infrastructure
Capital Management CEO Jay Hatfield to break down how the current
wave of tariffs, deregulation, and government-backed investing is
moving markets — and creating opportunities — in surprising
places. From Washington’s national security bets to Silicon
Valley’s political flip, this episode unpacks what the “Trump
trade” means for stocks, sectors, and your portfolio.
Hatfield explains why America’s push into strategic industries
like resources, chips, and AI is creating clear winners — and how
to position yourself without getting caught in the hype. He also
shares how “the Trump effect” is reigniting deal-making,
unlocking private equity, and fueling what could be the next
multi-year bull run.
From private equity giants to fast food staples, Jay takes
listener questions on Brookfield (BN) vs. BlackRock (BLK) and
whether private managers will dominate North American
infrastructure. He breaks down why McDonald’s (MCD) could be a
steady play for 2026, Pepsi (PEP) may have more upside after
activist pressure from Elliott Management, and how
Kimberly-Clark’s (KMB) deal for Kenvue (KVUE) could still deliver
gains. Plus, his candid take on long-suffering Pfizer (PFE), why
he trimmed his position in Broadcom (AVGO), utility players
NextEra and Vistra (NEE, VST) and how to approach regional banks
like Fifth Third (FITB) amid some credit fears.
In Pro Picks, Jay lays out his top “Trump trade” plays — KKR
(KKR) and Apollo (APO) — benefit directly from deregulation,
renewed M&A activity, and a friendlier environment for
private capital. He’s still bullish on Amazon (AMZN) as a
cost-cutting story with cloud upside, and sees big opportunity in
Marvell (MRVL), a cheaper AI chip play that’s been unfairly
punished.
Recorded on: Tuesday November 4th, 2025
Timestamps
00:00 Show intro
02:15 The Trump Administration is buying stakes in U.S. stocks,
why, and what does it mean for the market?
05:15 Why this creating a bubble may not actually be a bad
thing
08:25 If AI has the backing of the U.S. government does that make
valuations less worrying?
11:10 Why tech makes up only a small portion of Jay’s
portfolio
16:10 Is it time to look outside of the AI trade?
17:30 Is OpenAI an under appreciated risk?
19:30 Where are rates headed?
22:20 ITM Mailbag: Brookfield or Blackrock? (BN, BLK)
23:40 Mcdonald’s stock (MCD)
26:40 Pepsi stock
29:00 Kenvue & Kimberly Clark (KVUE, KMB)
31:40 Pfizer stock (PFE)
36:30 Broadcom stock (AVGO)
37:50 NextEra & Vistra (NEE, VST)
41:40 Fifth Third Bancorp (FITB)
44:15 Jay’s Pro Picks ( KKR, APO, AMZN, MRVL)
Sponsors
For 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
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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 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
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#FinancialNews
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