In the Money with Amber Kanwar Archiv

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?

Timestamps 00:00 Trailer

01:55 Intro

03:32 Investing Beyond the Broad Market

04:08 How Andrey Chooses Investment Themes

06:08 The Evidence Behind Canada’s Infrastructure Shift

07:44 Is the Opportunity Still Under the Radar?

09:23 Separating Investment Hype from Data

12:26 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 Trips

Sponsors

Thanks 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.com

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.com

All 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/83ftma8x

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! E-mail

info@haliburtonposthouse.ca 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, 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

#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.

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https://vote.signalaward.com/PublicVoting#/2026/shows/genre/business-people-entrepreneurs-shaping-culture 

Timestamps

0:00 Trailer

2:03 Intro

3:22 Cole Smead on expanding into Canada

5:38 Speaking candidly about Canadian investing

7:58 The H&R REIT deal and shareholder value

11:37 Cole’s investment approach and portfolio

13:10 Why he avoids big tech and capex cycles

15:44 Canadian oil prices and pipeline constraints

18:37 ITM Mailbag: Athabasca takeover offer, is another bid coming? (ATH)

25:27 Greenfire, Strathcona, and oil consolidation

28:03 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 pipelines

46:18 Birchcliff and the gas business

48:00 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 conversation

Sponsors

Thank 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.com

All 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/83ftma8x

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! E-mail

info@haliburtonposthouse.ca 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, 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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Steve Eisman made his name betting against the housing market before the Global Financial Crisis—a trade immortalized in The Big Short. So when he sees risk building in the market, investors pay attention. But this time, Eisman isn’t predicting another crash. In fact, he’s net long.

In this episode of In the Money with Amber Kanwar, Eisman explains why he remains cautiously bullish, even as he warns that the market has become dangerously dependent on one story: AI. He argues the S&P 500 is far less diversified than investors think, with much of the market now directly or indirectly tied to the AI buildout. He breaks down the extraordinary concentration he sees from NVIDIA (NVDA) to the hyperscalers to OpenAI and Anthropic—and what could cause that chain to unravel.

Eisman also weighs in on rising interest rates, why he believes U.S. banks are safer than they’ve been in decades, and why he isn’t worried about America’s massive government debt. And he revisits one of his more infamous calls on Canada: his bet against Canadian banks. Eisman admits he was wrong, explains why his bearish housing thesis never played out as expected, and says Canada’s oligopolistic banking system has helped keep its banks safe—even as Canadian housing now faces a significant pullback.

Plus, in Pro Picks, Eisman shares his high-conviction ideas: NVIDIA (NVDA), which he continues to own as long as the AI story holds together, and Eli Lilly (LLY), which he believes has won the weight-loss drug war. He also reveals why he closed his hugely successful short position in FICO (FICO) after the stock plunged roughly 60%—and teases another short he isn’t ready to reveal just yet.

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Timestamps 0:00 Trailer

02:07 Introducing Steve Eisman

03:32  “The Big Short” guy

04:57 Is the market headed for trouble?

05:42 The S&P 500’s hidden concentration risk

07:32 What could derail the AI boom?

08:24 The AI investment chain: Nvidia to OpenAI

11:34 AI competition, government, and China

12:48 Can AI spending earn a return?

14:11 Why Eisman owns Nvidia despite the risks

15:19 AI’s compelling story—and its cash burn

18:00 What the bond market is signaling

19:18 Why the market is so narrow

20:12 Housing stocks and interest rates

21:44 Are U.S. banks safe?

22:22 Private credit: waiting for loan defaults

23:06 Eisman admits he was wrong about Canadian banks

24:19 Commodities, oil, and inflation

25:47 Short positions and lessons from the 2008 crisis

28:16 U.S. debt, Treasuries, and the dollar’s role

30:52 Pro Picks: Eisman’s high-conviction stock ideas (NVDA, LLY)

31:53 Why Eisman closed his FICO short

32:41 Eisman’s “Iceman Playbook”

33:04 What Steve Eisman does for fun

Sponsors

Thank 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.

Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.com

All 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/83ftma8x

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.

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! E-mail

info@haliburtonposthouse.ca 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, 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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Mike Vinokur thinks a market washout could be just two to four weeks away—and that may be the time to buy. The Portfolio Manager & Senior Wealth Advisor at Propellus Wealth Partners with iA Private Wealth has raised cash to nearly 30% in his growth portfolio as the S&P 500’s double-digit gain masks a much uglier market underneath. High-quality stocks are down 20%, 30% and even 40%, and Mike joins Amber Kanwar to explain why he thinks more pain could be coming before a potentially compelling buying opportunity emerges. He also breaks down the impact of higher-for-longer interest rates and why he’s cautious on parts of the AI trade.

In the Mailbag, Mike weighs in on the pullback in U.S. banks and explains why he prefers life insurers over expensive Canadian banks. He looks at whether Blackstone (BX), KKR (KKR) and Brookfield (BN) have fallen far enough to become attractive, whether McDonald’s (MCD) is finally getting cheap enough to buy and what Berkshire Hathaway may see in Lennar (LEN). Plus, after a 75% collapse in Fair Isaac (FICO), is the stock finally an opportunity—or still a falling knife?

In Pro Picks, Mike revisits his past ideas Alphabet (GOOGL), Air Lease and Lincoln National (LNC), including why he sold Google after a massive run but continues to own Lincoln National. His new picks are Amazon (AMZN), Uber (UBER) and Talen Energy (TLN), as he looks for businesses with strong fundamentals, attractive valuations and enough margin of safety to weather a more challenging market.

Vote for us! https://vote.signalaward.com/PublicVoting#/2026/shows/genre/money-finance

https://vote.signalaward.com/PublicVoting#/2026/shows/genre/business-people-entrepreneurs-shaping-culture 

Timestamps

0:00 Trailer

2:08 Intro

4:01 Why the average stock is struggling

7:10 A washout is coming in the next 2-4 weeks

10:17 High interest rates and the bond market

13:11 How Mike approaches AI stocks

15:44 U.S. banks: correction or opportunity?

19:56 Why Mike is avoiding Canadian banks

22:05 Private equity, KKR, and valuation (BX, KKR, BN)

27:27 Is McDonald’s a value opportunity? (MCD)

32:26 Why Berkshire is buying LENNAR (LEN)

34:47 Toll Brothers and timing the housing market (TOL)

38:44 FICO, Equifax, and regulatory risk (FICO)

43:01 Mike’s past picks: Google, Lincoln National and Air Lease (GOOGL, LNC)

50:00 New picks: Amazon, Uber and Talen Energy (AMZN, UBER, TLN)

63:28 Closing bell: salsa dancing and travel

Sponsors

Thank 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.com

All 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/83ftma8x

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! E-mail

info@haliburtonposthouse.ca 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, 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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Rising interest rates have punished real estate stocks and left investors wondering: Is real estate dead money?

Jeff Olin, President & CEO and Portfolio Manager at Vision Capital Corporation, says absolutely not. While higher rates matter, he argues that supply and demand ultimately matter more—and that today’s disconnect between public and private real estate markets is creating opportunities. With billions of dollars of private capital still looking for deals, Olin expects the wave of M&A in real estate to continue.

Olin explains why Vision has increased its net long exposure, where he sees the best supply-and-demand fundamentals and why investors need to stop treating real estate as one homogeneous sector. He breaks down the strength in grocery-anchored retail, why he’s becoming more constructive on industrial real estate again and where he sees opportunities in apartments, seniors housing and data centres.

In the Mailbag, Olin tackles the controversial proposed transaction involving H&R REIT (HR.UN) and GO Residential REIT (GOR.UN), including why both stocks fell after the deal was announced, the potential value he still sees in GO and the questions surrounding H&R’s process and governance. He also revisits Allied Properties REIT (AP.UN) after warning about the company on his last appearance. Following a major distribution cut and equity raise, Olin argues Allied still has a distribution problem and says he would eliminate the dividend entirely—even as he acknowledges the company owns some great real estate.

Plus, Olin weighs in on Dream Office REIT (D.UN), BSR REIT (HOM.U), Mainstreet Equity (MEQ), Nexus Industrial REIT (NXR.UN) and Plaza Retail REIT (PLZ.UN), including which names he thinks offer genuine value—and which apparent bargains could still be value traps.

Before revealing his new Pro Picks, Olin revisits last year’s picks: Dream Industrial REIT (DIR.UN), First Capital REIT (FCR.UN) and Chartwell Retirement Residences (CSH.UN). First Capital was ultimately acquired after Olin had argued that its grocery-anchored portfolio was significantly undervalued, while Dream Industrial and Chartwell remain names he likes.

For this year’s Pro Picks, Olin returns to Chartwell Retirement Residences (CSH.UN), pointing to powerful demographic tailwinds, limited new supply and rising occupancy. He also picks Brookdale Senior Living (BKD), the largest operator of retirement communities in the U.S., where he sees an occupancy and management turnaround story, and Csquare (CSQR), a newly public data-centre company he calls a “screaming value” with exposure to the less-hyped co-location side of the data-centre boom.

Timestamps

00:00 Trailer

02:15 Intro

03:20 Is Real Estate dead money? 

05:23 U.S. REIT Balance Sheets and Debt

06:42 Canadian REITs: Valuations and Leverage

08:09 Why Vision Capital Is Net Long

09:32 Real Estate M&A and Takeover Premiums

11:01 How Higher Rates Affect Deal Flow

11:47 Cap Rates Explained

12:59 Why Retail Real Estate Is Not One-Size-Fits-All

13:27 The Case for Grocery-Anchored Retail

15:24 Slate Grocery REIT: What Went Wrong?

16:39 Why the Slate Deal Angered Investors

18:57 ITM Mailbag: H&R REIT and GO Residential: The Deal Explained (GO.U, HR.UN)

27:32 Dream Office REIT and BSR REIT (D.UN, BSR)

33:21 Main Street Equity’s Long-Term Growth Story (MEQ)

37:41 Nexus Industrial REIT and Data Centre Claims (NXR)

39:19 Allied Properties: Governance and Capital Allocation

44:11 Should Allied Properties Eliminate Its Dividend? (AP.UN)

46:17 Plaza REIT and Potential M&A (PLZ.UN)

48:49 Jeff’s Past & Pro Picks ( DIR.UN, FCR.UN, CSH.UN, BKD, CSQR) 

62:59 Closing Bell: Jeff Olin on Skiing and Family

Sponsors

Thank 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.com

All 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/83ftma8x

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! E-mail

info@haliburtonposthouse.ca 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, 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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

The energy trade has already delivered big gains—but David Szybunka says the cycle is far from over. The opportunity is simply changing.

David Szybunka, Senior Portfolio Manager & Managing Director of the Energy Team at Canoe Financial, joins Amber Kanwar to explain why he believes energy has entered the “optimism” stage of a much longer cycle. After large-cap oil producers led the rally, Szybunka is becoming more selective, finding better value in natural gas, mid-cap producers and oilfield services. He argues investors are too focused on today’s oil price and not enough on the structural forces reshaping the sector—from geopolitical risk and energy security to surging power demand from AI.

Szybunka also sees the ingredients for another wave of M&A. Canadian energy companies are generating significantly more cash, debt has fallen and valuations are increasingly diverging—creating opportunities for companies with stronger balance sheets to go shopping. He explains why owning long-life resources could become increasingly valuable as capital returns to the sector.

In the Mailbag, Szybunka weighs in on the outlook for Canadian natural gas and potential M&A opportunities, including Birchcliff Energy (BIR.TO), Advantage Energy (AAV.TO) and Kelt Exploration (KEL.TO). He also tackles West White Rose and what it could mean for Cenovus Energy (CVE.TO) and Suncor Energy (SU.TO), the Tamarack Valley Energy (TVE.TO)–Headwater Exploration (HWX.TO) merger and its Tributary Exploration spinout, Abaxx Technologies (ABXX.NE) following its dramatic selloff, and the outlook for oilfield services.

In Pro Picks, we first revisit Szybunka’s picks from his last appearance—and several were big winners. CES Energy Solutions (CEU.TO) gained 65%, Tamarack Valley Energy (TVE.TO) rose 84% and Headwater Exploration (HWX.TO) climbed 60%, while PrairieSky Royalty (PSK.TO) gained 30%. Tourmaline Oil (TOU.TO), however, returned just 4%—and Szybunka is bringing it back as a pick. He explains why he thinks North American natural gas resources are mispriced, why Tourmaline could be vulnerable to a bid, and why he also likes Athabasca Oil (ATH.TO) and SLB (SLB) as the energy cycle evolves.

Timestamps

00:00 Trailer

02:30 Intro

03:40 David Szybunka returns

04:26 Geopolitics, AI, and the energy demand outlook

06:34 Is energy entering an optimism wave?

09:54 Capital returning to Canadian energy

11:39 Canada’s changing energy investment climate

13:05 Large caps vs. overlooked intermediates

15:38 Why energy M&A could accelerate

17:50 Why David prefers large-cap natural gas

18:00 Oil supply shocks vs. long-term demand

20:37 How to invest during an oil shock

21:37 Natural gas, power demand, and global scarcity

24:29 The case for thinking in energy cycles

26:56 LNG, natural gas, and where David sees opportunity

30:04 West White Rose and the large-cap outlook

32:59 Growth, shareholder returns, and the cycle

34:40 Who could become an energy-sector acquirer?

35:49 Tamarack–Headwater merger and the Tributary spinout

38:14 ABAX Technologies: David’s investment view

43:51 Oilfield services and the global spending cycle

47:31 Tourmaline: why David sees natural gas value

54:40 Athabasca, Tamarack, and long-life resources

58:51 SLB and the case for global energy spending

63:04 Closing Bell: life beyond the markets

Sponsors

Thank 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.com

All 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/83ftma8x

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! E-mail

info@haliburtonposthouse.ca 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, 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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Caution isn’t stopping Gordon Reid from finding opportunities. The President & Chief Investment Officer of Goodreid Investment Counsel Corp. is getting more defensive as markets contend with higher interest rates, inflation and geopolitical uncertainty—but he’s not taking his chips off the table. One of the biggest changes is in financials. When Reid joined us last year, he was all-in on the sector, making Goldman Sachs, Morgan Stanley and Jackson Financial all three of his Pro Picks. After big gains, he’s now trimming that exposure, cutting Goldman Sachs by roughly a third and Morgan Stanley by 25%. Reid explains why taking profits can be an important defensive move, where he’s redeploying that money—including Verizon and healthcare—and walks us through 10 stocks he still likes as he looks for opportunities in a more challenging market.

In the Mailbag, Reid weighs in on Nvidia (NVDA) and Qualcomm (QCOM) after the recent volatility in semiconductors, whether Lululemon (LULU) has fallen enough to become attractive, and the turnaround at Citigroup (C). He explains why he prefers General Motors (GM) over Ford (F), why Costco (COST) is still too expensive for him, why he’s staying away from Netflix (NFLX) but likes his exposure to YouTube through Google (GOOGL), and how he manages the risk of owning high-flying CrowdStrike (CRWD).

Plus, as we mentioned, Reid’s past Pro Picks—Goldman Sachs (GS), Morgan Stanley (MS) and Jackson Financial (JXN)—have gained roughly 40%, 45% and 60%, respectively, since his last appearance. His three fresh Pro Picks are tied to the AI infrastructure buildout: Ciena (CIEN), EMCOR Group (EME) and MasTec (MTZ). Reid explains why their recent pullbacks could represent an opportunity and why he believes the AI buildout can continue even if the pace of spending slows.

Timestamps

00:00 Trailer

02:13 Intro

03:33 Interest rates, oil prices, and inflation

05:43 Is the U.S. market too expensive?

08:19 How high can interest rates go?

09:37 AI spending and the race for capital

10:42 Is AI threatening financial stocks?

12:05 Why Gordon trimmed financials

13:34 Why Verizon is the new defensive position

14:02 How to defend a portfolio without selling everything

15:07 Why Gordon is adding to healthcare

17:11 The AI impact on tech valuations

20:23 ITM Mailbag: Is it time to buy semiconductor stocks?

21:12 Qualcomm’s role in the AI trade (QCOM)

22:41 Is NVIDIA becoming a more stable investment? (NVDA)

24:13 Why Gordon is avoiding Lululemon (LULU)

27:56 Why Citi remains a turnaround opportunity (C)

30:46 GM vs. Ford: Which stock does Gordon prefer? (GM, F)

34:15 Is Costco still too expensive? (COST)

36:16 Can Netflix recover? (NFLX)

39:08 Is CrowdStrike still worth buying? (CRWD)

44:07 Gordon’s Past & Pro Picks: GS, MS, JXN, CIEN, EME, MTZ 

52:10 The Closing Bell: Gordon’s favourite ways to unwind

53:54 Closing thoughts and next episode

Sponsors

Thank 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.com

All 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/83ftma8x

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! E-mail

info@haliburtonposthouse.ca 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, 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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

In a world of higher rates, stubborn inflation and expensive U.S. stocks, Canada just might be your safest bet. 

Ryan Bushell, CEO & Portfolio Manager at Newhaven Asset Management, invests in Canadian dividend-paying companies—and his portfolio is up 18% so far this year. He joins Amber to explain why he thinks Canada is well positioned in this environment, why infrastructure and energy remain at the heart of his portfolio, and why he sees little reason to chase the U.S. market at current valuations.

In the Mailbag, Ryan tackles one of the market’s most beaten-down dividend stocks, TELUS (T.TO), and explains why he’s sticking with it despite the selloff. He also weighs in on Aecon (ARE.TO), WSP Global (WSP.TO), Dollarama (DOL.TO), Canadian REITs and CCL Industries (CCL.B.TO)—including which names he owns, which ones he’s watching and what would finally make him buy.

Plus, we check in on Ryan’s past Pro Picks: Pembina Pipeline (PPL.TO), Brookfield Infrastructure Partners (BIP.UN.TO) and ARC Resources (ARX.TO), which was acquired by Shell (SHEL). Ryan explains why he still sees more opportunity ahead for Pembina, why he likes Brookfield Infrastructure after its recent pullback, and why ARC’s takeover was bittersweet—delivering a gain, but taking away a company he would have been happy to own for decades. Then he reveals his latest Pro Picks: Tourmaline Oil (TOU.TO), Enbridge (ENB.TO) and AltaGas (ALA.TO), three companies positioned around his conviction that Canada has a much bigger role to play supplying energy to the world.

Timestamps

00:00 Trailer

02:26 Intro

03:53 Rising Interest Rates and Dividend Stocks

04:29 How Tech Debt Is Pushing Rates Higher

06:06 Could the US 10-Year Treasury Pass 5%?

07:21 Why Canada Still Looks Attractive

08:29 The Strategy Behind the Outperformance

09:26 Why Infrastructure Stocks Could Lead

11:09 Is Infrastructure Still a Buffer Against Rising Rates?

12:04 Why Canadian Investors Are Avoiding the US

12:17 Life Insurance Stocks vs. Banks

14:15 Why Ryan Doesn’t Sell Often

17:27 ITM Mailbag: Can TELUS Recover? (T)

26:00 Is Aecon Still a Buy? (ARE)

28:43 Is WSP’s AI Risk Overblown? (WSP)

31:15 Is Dollarama Still a Long-Term Investment? (DOL)

34:30 Are REITs Worth Buying?

38:16 What Does Ryan Think About CCL Industries? (CCL)

40:48 Past & Pro Picks: PPL, BIP, TOU, ENB, ALA

52:56 Closing Bell: Coaching Hockey and Family Life

54:24 Final Thoughts and Episode Outro

Sponors

Thank 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.com

All 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/83ftma8x

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! E-mail

info@haliburtonposthouse.ca 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, 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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

One of the world’s largest gold producers is ready to invest more in Canada.

Fresh off the Canada Investment Summit, Amber Kanwar sits down with Ammar Al-Joundi, President & CEO of Agnico Eagle Mines Limited, for a wide-ranging conversation about Canada’s changing investment climate, the outlook for gold and why he believes this could be a pivotal moment for the country’s resource sector.

Al-Joundi says Agnico Eagle is already spending more in Canada—and that recent changes have given the company greater confidence to deploy capital here. He discusses the company’s US$2.5 billion investment at Hope Bay in Nunavut, the potential impact of faster project reviews and why jurisdictional certainty has become increasingly valuable to global investors.

They also dig into what has made Agnico Eagle stand out in the gold industry, from its focus on politically stable mining regions to its balance-sheet discipline and what Al-Joundi calls the company’s “culture of the heart.” He explains why Agnico prioritizes growth on a per-share basis, how it plans to increase production by roughly 20 to 30 percent into the early-to-mid 2030s, and why acquisitions remain a selective part of the strategy.

Plus, Al-Joundi explains why he remains constructive on gold despite its recent pullback, why he views himself as a “hard asset bug” rather than a gold bug, whether the Bank of Canada could ever buy gold again, and why Agnico Eagle sees a major opportunity in Canadian critical minerals.

It’s a conversation about gold, growth and whether Canada’s resource sector is entering a new era.

Timestamps

00:00 Trailer

01:42 Intro

04:07 Agnico Eagle CEO on What the Investment Summit Meant for Canada

04:56 Why Jurisdiction Matters to Investors

07:31 Canada’s Economic Shift

09:12 The Sea Change in Government Support

11:20 Mining, Defense, and Nunavut Infrastructure

14:09 Can Canada Approve Projects in One Year?

16:05 Will New Policies Drive More Investment?

18:32 What Still Needs to Change in Canada

20:28 Why Agnico Eagle Has Outperformed

22:03 The Culture Behind Agnico Eagle’s Success

24:17 A Regional Strategy for Long-Term Growth

26:00 Agnico Eagle vs. Barrick’s Strategy

27:04 The Lessons of Mining’s Boom-and-Bust Cycles

29:33 What’s Driving Gold Prices?

34:01 Could the Bank of Canada Buy Gold Again?

35:07 Managing Inflation and Rising Mining Costs

39:39 Agnico Eagle’s Production Growth Plans

41:48 Will Agnico Eagle Make More Acquisitions?

43:09 The Best Mining Regions in the World

46:25 Agnico Eagle and Critical Minerals

49:18 Financing Canada’s Resource Future

51:17 The CEO’s Hobby Farm

52:02 Closing Thoughts

Sponsors

Thank 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.com

All 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/83ftma8x

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! E-mail

info@haliburtonposthouse.ca 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, 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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

.

Dan Niles doesn’t think AI wiping out humanity is a likely outcome—but he does think the technology could wipe out plenty of stocks. The Founder & Portfolio Manager of Niles Investment Management joins Amber Kanwar at a moment of peak AI anxiety to separate the existential fears from the very real investment risks. Niles believes AI is the biggest technological revolution since the internet and that agentic AI is still in its early stages, but he also sees warning signs in slowing AI spending growth, data-centre push-outs and increasingly aggressive assumptions about how long the boom can last.

He also weighs in on the battle among the biggest names in AI, including Google, Meta and the frontier model companies, and explains why the next phase of the revolution could produce a very different group of winners and losers. Niles makes the case for Meta as an AI comeback story, explains why Nvidia may be in a different category from some of the more speculative AI infrastructure plays, and warns that investors shouldn’t assume every stock will simply bounce back if the market turns.

In the mailbag, Niles tackles Snowflake (SNOW), Marvell Technology (MRVL), Celestica (CLS), Nebius Group (NBIS), Nvidia (NVDA), Amazon (AMZN) and SpaceX. He explains why he isn’t convinced Snowflake will escape AI disruption, why he prefers Marvell to Celestica, why the neo-clouds could be among the first casualties if AI spending slows, and how Amazon’s strength in robotics could reshape its long-term investment case. He also explains why, despite being a huge believer in Elon Musk and the future of space, valuation and cash flow make SpaceX difficult for him to own.

In Pro Picks, one idea makes a return appearance: cash. Niles picked cash alongside Cisco Systems (CSCO), Microsoft (MSFT) and Nvidia (NVDA) when he last appeared in May 2025, and this time he puts cash at the very top of his list as growing market risks make patience more valuable. He also likes Meta Platforms (META), where a lower valuation, improving AI models and new ways to monetize its AI spending have made the risk-reward more attractive. And he’s bullish on Apple (AAPL), where he believes product-focused leadership and the arrival of a foldable iPhone could finally spark a major new upgrade cycle next year. Niles also revisits Cisco, Microsoft and Nvidia from his past picks, including why Cisco’s position at the centre of networking infrastructure could continue to benefit as companies build out their own AI systems.

Timestamps

00:00 Trailer

2:15 Intro 

03:37 Dan Niles on AI Risk

08:35 What Slower AI Spending Means for Semiconductors

10:49 Is the AI Boom Turning Into a Bubble?

13:58 Open-Source AI vs. Frontier Models

16:27 The AI Shakeout: Who Will Survive?

19:34 Why Dan Is Bearish on the Market

21:01 Bonds, Debt, and the Risk of a Major Sell-Off

28:14 Why Credit Markets Matter for Big Tech

30:51 Dan Niles’ Changing View on Google

35:55 ITM Mailbag: Snowflake stock (SNOW) and the Software Sector

40:46 Marvell & Celestica (MRVL, CLS)

45:50 Nebius & NVIDIA (NBIS, NVIDA)

51:58 Is Amazon Still a Long-Term AI Play? (AMZN)

54:23 Should You Buy the Dip in SpaceX? (SPCX)

57:43 Past & Pro Picks: CASH, CSCO, NVDA,MSFT, META, AAPL 

68:17 Closing Bell: Chess and Chinese Dramas

Sponsors

Thank 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.com

All 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/83ftma8x

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! E-mail

info@haliburtonposthouse.ca 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, 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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Tariffs are dominating the headlines, but they’re not the biggest risk Jean-François Tardif sees for investors. The President of Timelo Investment Management is cautious on the economy, skeptical that the massive AI spending boom can last and actively positioning for downside. 

He explains why he’s short Canadian banks and semiconductors, using puts on the S&P 500 and Nvidia, and preparing his portfolio for what could happen when AI spending eventually rolls over. At the same time, Tardif remains net long equities through gold and oil, explains why he sees gold stocks as significantly more attractive than copper right now and tells us his top gold stock. He also weighs in on the controversial H&R REIT deal, why he calls it a “take-under” and why he’s been buying more shares even as he considers voting against it.

In the mailbag, Tardif goes in depth on the Canadian banks and explains why taking profits in a tax-free account is a 'no-brainer'.  He also talks CAE (CAE), Toromont Industries (TIH), goeasy (GSY) and Propel Holdings (PRL), Champion Iron (CIA), Village Farms International (VFF) and Magna Mining (NICU). Plus, he explains why he’s bearish on parts of the economy, what insider selling can tell investors and where he’s finding opportunities in beaten-down sectors.

In Pro Picks, Tardif revisits last year’s ideas, including Total Energy Services (TOT), which has roughly tripled since his appearance, Calian Group (CGY), up more than 50%, and H&R REIT (HR.UN). Then he reveals three new ideas: Adentra (ADEN), a cash-generating consolidator he believes is cheap even without a housing recovery; Colliers International (CIGI), a former market darling hit by fears over AI and commercial real estate; and Dutch Bros (BROS), a fast-growing coffee chain he believes has the potential to multiply its store count over time.

Subscribe, like and comment for a chance to win some In the Money swag, and now you can buy some merch at our new store! Check it out!  https://inthemoneypod.myshopify.com/

Timestamps 00:00 Trailer 

02:17 Introducing JF Tardif 

04:17 Canada, the US, and rising tariff tensions

07:54 The AI trade and the risk of peak spending

10:18 Why gold may be more attractive than copper

11:24 Hedging with shorts and put options

13:01 JF’s high conviction gold ideas

14:40 The H&R REIT take under

19:43 Mailbag begins

21:16 Are Canadian banks too expensive and JF’s short process

28:30 CAE stock (CAE)

30:31 Toromont Industries stock (TIH) 

32:47 Go Easy, Propel, and consumer lending risks (GSY, PRL)

34:13 Champion Iron stock (CIA)

36:27 Village Farms stock (VFF)

39:03 Magna Mining (NICU)

40:26 Past & Pro Picks ( TOT, CGY, HR.UN, ADEN, CIGI, BROS)  

52:55 The Closing Bell: Golf, snowmobiling, and the closing bell

Sponsors

Thank 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.com

All 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/83ftma8x

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! E-mail

info@haliburtonposthouse.ca 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

Legendary commodity investor Rick Rule sees weakness coming for natural resources and thinks investors should be ready to take advantage. In this special season premiere episode, he's here to tell you what he's buying. 

Rick Rule, President and CEO of Rule Investment Media, joins In the Money with Amber Kanwar to kick off a new season with his outlook for gold, oil and natural resource stocks. While higher interest rates and a stronger U.S. dollar could weigh on commodities through the rest of 2026, Rule remains firmly bullish over the longer term—and says a pullback could put the assets he wants to own “on sale.”

He explains why he believes declining purchasing power and negative real interest rates could ultimately propel gold higher, and why years of underinvestment could leave the oil market facing a structural supply shortage by the end of the decade.

In the mailbag, Rule tackles viewer questions on Abaxx Technologies (ABXX), Nations Royalty (NRC), International Petroleum (IPCO), Athabasca Oil (ATH), Dundee Corporation (DC.A), Vizsla Silver (VZLA), Solaris Resources (SLS), Copper Giant Resources (CGNT) and Alphamin Resources (AFM)—digging into everything from management and valuation to geopolitical risk and the enormous potential rewards that can come with it.

And in Pro Picks, Rule revisits last year’s ideas—including Sprott (SII), Exxon Mobil (XOM) and the former EMX Royalty, now part of Elemental Royalty (ELE)—and reveals three stocks he likes now across the risk spectrum: Agnico Eagle Mines (AEM), Equinox Gold (EQX) and speculative play Talon Metals (TLO). On Talon, Rule makes the stakes clear: if his exploration thesis is wrong, investors could lose 50%. If it works, he believes the discovery could be profound.

Like and comment for a chance to win some In the Money swag, and now you can buy some merch at our new store! Check it out!  https://inthemoneypod.myshopify.com/

Timestamps

0:00 Trailer: Rick Rule on commodities, gold, and oil

0:39 Episode intro and season premiere setup

2:02 Disclaimer and what this episode covers

2:28 Welcome to the season premiere with Rick Rule

4:49 Commodities near-term outlook, rates, dollar, and inflation

6:34 Why inflation and bond yields may stay sticky

8:34 Debt, deficits, and why the cycle feels familiar

9:58 Lessons from the 1970s inflation era

12:52 Why falling commodity prices can be buying opportunities

15:00 Gold, war, and negative real interest rates

17:36 Why oil has not reacted like a true shock yet

19:30 When oil shortages become structural

22:57 How Canada can better position itself

26:16 Rick Rule’s investing method and edge

29:55 ITM Mailbag: Abaxx Technologies and the short report (ABAX)

32:23 Nations Royalty and Indigenous led royalties (NRC)

36:47 International Petroleum vs Athabasca (IPCO, ATH)

40:52 Why Dundee still matters to Rick (DC.A)

44:30 Vizsla Silver, huge upside, major risk (VZLA)

51:01 Solaris Resources and Copper Giant (SEI, CGNT)

52:36 AlphaMin Resources and the tin market (AFM)

55:21 Past & Pro Picks (SII, XOM, ELE, AEM, EQX, TLO)

1:08:05 Rick Rule off the mic, outdoors, reading, mentoring

Sponsors

Thank 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.com

All 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/83ftma8x

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! E-mail

info@haliburtonposthouse.ca for more information. 

Links

https://inthemoneypod.com/ 

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https://facebook.com/profile.php?id=61569721774740 

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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, 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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Richard Abboud dropped out of university to pursue entrepreneurship. Today, he’s the Founder & CEO of Forum Asset Management, a $4 billion asset management business—and one of the country’s most vocal advocates for a more ambitious Canada.

In the final installment of Can Canada Meet the Moment?, Amber Kanwar sits down with Abboud to trace his journey from running teenage dance venues to building one of Canada’s largest student housing businesses. He explains why Forum is betting on student housing and self-storage, where he sees opportunity in Canadian real estate, and why his investment philosophy starts with finding an “unfair advantage.” He also breaks down how Forum offers investors access to these private-market opportunities through a range of funds designed for different risk appetites and needs for income and growth.

But Abboud is also thinking beyond his own business. He founded Shift Canada to help change Canadian culture around risk, innovation and the fear of failure. Its Shift Failure program is taught in junior high and high schools across the country and has reached 600,000 students in three years, encouraging young Canadians to see failure as part of growth rather than something to fear. Shift Canada also tracks Canadians’ willingness to take risks and be ambitious through its Bold Ambition Index.

Can Canada become more ambitious, take bigger risks and seize the opportunity in front of it? Abboud believes there’s no reason Canada shouldn’t be at the top of the world—but Canadians need to be willing to speak up, take risks and get on with it.

Timestamps

00:00 Intro

00:09 Sponsor message and disclaimer

00:33 Welcome to the final installment of the innovation series

01:01 Richard Abboud’s background and what this conversation covers

01:54 Richard’s origin story and entrepreneurial journey

03:37 First business: teenage dances and early lessons

04:46 From broker to Forum Asset Management

05:22 Forum today: assets, student housing, and self-storage

07:15 Why student housing and self-storage still make sense

08:49 Immigration, population trends, and student housing demand

10:04 How the fund is structured for investors

11:42 Retail investor access and current opportunities

13:07 Long-term outlook for the asset class

14:51 Why Richard got involved in Canadian innovation

15:43 Midlife pause, then back to building

16:38 Canada’s innovation problem and cultural barriers

17:57 Shift Canada and the Shift Failure program

19:00 Teaching kids to embrace failure

21:44 Can Canada celebrate entrepreneurs better?

23:24 Why CEOs are speaking up now

25:26 What still needs to happen in Canada

26:24 Tariffs and consumer confidence

27:03 How the business is adapting

27:37 Fun, hobbies, and travel

29:00 Closing remarks and next episode teaser

Sponsors

This show is brought to you by Forum Asset Management, presenting sponsor of our Innovation Special: Can Canada Meet the Moment. Learn more at https://forumam.com.

Thank 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.com 

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! E-mail

info@haliburtonposthouse.ca 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 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.

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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Canada was one of the first countries in space. Now, as a new space race takes off, does it have what it takes to become a global leader again?

In this episode of our summer series Can Canada Meet the Moment?, Paige Ellis sits down with Mike Greenley, CEO of MDA Space—Canada’s answer to SpaceX—to explore the enormous economic opportunity opening up beyond Earth. Greenley says the Earth-to-Moon economy represents a new economic frontier worth trillions of dollars, with humans expected to start living and working on the Moon as early as 2028. Canada already has world-leading expertise in space robotics, satellite communications and Earth observation—but capturing the opportunity will require moving faster and thinking much bigger.

Greenley explains why Canada needs its own launch capability, how rising defence spending could help build a stronger domestic space industry, and why relying on other countries for critical technology creates both economic and sovereignty risks. As the U.S. pulls back globally and countries put a greater emphasis on sovereignty and security, Greenley explains why Canada needs to build more critical capabilities at home while continuing to forge strategic partnerships abroad. He also makes the case that Canada’s unique combination of mining expertise and space robotics could eventually give it an advantage in lunar and asteroid mining, where potentially enormous deposits of critical minerals are waiting to be explored.

Plus, Greenley lays out his ambitions to turn MDA Space into a much larger global company while helping create a new generation of billion-dollar Canadian space businesses—and explains why commercial trips to the Moon could become a reality within the next decade.

Timestamps

0:00 Sponsor intro and opening

0:58 Welcome and why the space economy matters

2:45 Rapid-fire with Mike Greenley

5:30 Canada’s place in the space boom

8:52 Defense, urgency, and how Canada scales capability

12:48 Why this time could be different

14:00 What industry wants from government

17:04 Defense procurement: best equipment vs. Canadian industry

20:38 Partnerships, sovereignty, and the Gateway pause

23:57 Canada’s mining edge in the new space race

26:36 Winning public support for space

31:37 ESG, capital, and space investment

35:29 Building a stronger Canadian space ecosystem

37:37 Why U.S. expansion matters

39:06 When commercial moon trips become real

41:39 Outro and next episode tease

Sponsors

This show is brought to you by Forum Asset Management, presenting sponsor of our Innovation Special: Can Canada Meet the Moment. Learn more at https://forumam.com.

Thank 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.com 

Support for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://https://www.eqbank.ca/

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.

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

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews