In the Money with Amber Kanwar

Political tensions are prompting more Americans to consider moving to Canada—and more Canadians are returning home—but the financial implications are far more complicated than most people realize. On this special episode of In the Money with Amber Kanwar, Harp Sandhu, Founder, Senior Wealth Advisor and Portfolio Manager at Sandhu Wealth and author of Welcome Home, Eh?: A Guide for Canadians (Old and New) to Navigate Moving to Canada from the U.S., breaks down the costly financial traps that can come with a cross-border move—from mishandling retirement accounts and tax residency to overlooking investment restrictions, healthcare gaps...

More than 300 companies around the world cut their dividends in 2020—but not a single company in Fiona Wilson's portfolio did. Fiona, who co-manages the i3 dividend fund portfolios within Guardian Capital LP, explains why chasing the highest dividend yield can be a costly mistake and why dividend growth is the key to building long-term wealth. She shares how her team uses artificial intelligence to forecast dividend growth, identify companies at risk of cutting their payouts, and uncover high-quality businesses that can compound for years.

In the mailbag, Fiona answers your questions on Canadian bank stocks including RBC (RY...

Global investors spent years writing off Canadian energy. Now, one of the sector's most embattled companies is trying to prove them wrong.

On this episode of In the Money with Amber Kanwar, Amber sits down with Chad Lundberg, President & CEO of Baytex Energy, for his first interview since taking the helm. After a turbulent few years that saw Baytex expand into the U.S., reverse course, and overhaul its strategy, the stock has more than doubled over the past year. But with plenty of investors still questioning whether the turnaround is real, Chad explains why he believes...

Canada just announced two new pipelines — so where's private capital? The CEO of one of Canada's largest pipeline operators weighs in. 

On this special episode of In the Money with Amber Kanwar, Amber sits down with Greg Ebel, President and CEO of Enbridge (TSX: ENB, NYSE: ENB), live from the Calgary Stampede for his first interview since the pipeline announcements — including the Northern Shield West Coast pipeline and the Alberta-Ontario pipeline proposal. Greg explains why Enbridge isn't a proponent on either project, and why he thinks the industry's focus on pipelines has been "ass-backwards" — the real bottleneck, he argu...

Global government spending is reshaping the investing landscape—but are you following where the money is actually going? While everyone is focused on AI, Bryden Teich, Chief Investment Officer at Avenue Investment Management, argues the biggest market story is the massive fiscal spending boom unfolding across Canada, the U.S., and around the world. He explains why industrials, financials, energy infrastructure, and other resilient businesses stand to benefit, why he's still bullish on Canada despite recent economic challenges, why he's underweight big tech, why he trimmed gold after its surge, and how he builds a portfolio designed to perform th...

The biggest Canadian mining IPO since 2010 is betting on a country few investors associate with mining: Poland.

On this episode of In the Money with Amber Kanwar, Amber sits down with Jordan Pandoff, CEO of Lumina Metals, to discuss the IPO which raised over $400 million, and the investment case behind one of the world's largest undeveloped copper and silver projects. Backed by mining legend Ross Beaty, Lumina spent more than a decade advancing the project before taking the company public.

Jordan explains why Poland is emerging as a critical minerals powerhouse. The country already produces...

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 bigg...

A year ago, Bob Thompson called commodities the trade of the decade. Since then, silver miners, energy stocks and commodity-focused funds have delivered massive gains. But with gold down sharply from its highs, oil rolling over and investors questioning whether the trade has become too crowded, is it time to take profits—or is this just a correction within a much bigger bull market?

In this episode, Bob Thompson of Thompson Investment Partners explains why he still believes we're in the early innings of a long-term commodities supercycle despite the recent weakness. He walks through his famous "Mi...

The AI boom is being financed with debt—and the numbers are staggering.

The world's biggest tech companies are spending hundreds of billions of dollars to build the infrastructure behind artificial intelligence. But while investors focus on the stocks, Brian Carney, Portfolio Manager at Mawer Investment Management, is watching the credit markets—and he sees risks most investors are ignoring. 

On this episode, Brian, who manages the Mawer Global Credit Opportunities Fund explains why Alphabet, Amazon, Meta, Oracle and others are becoming some of the largest borrowers in the world, why credit markets may be under...

The AI boom is supposed to be a tech story. Larry McDonald thinks it's a commodities story. On this episode of In the Money with Amber Kanwar, the Bear Traps Report founder and best-selling author explains why surging demand for copper, uranium, oil, natural gas and gold could create some of the biggest investment opportunities of the next decade. As trillions of dollars flow into AI infrastructure, data centres and power generation, Larry argues investors are overlooking the companies supplying the raw materials that make it all possible. In fact, he goes so far as to call NVIDIA (NVDA...

Global fund managers raised their allocation to equities by the most on record in May, but Chad Larson, who manages the best performing tactical fund in Canada, is taking a contrarian approach—holding elevated cash levels while selectively deploying into his highest-conviction trades.

On this episode of In the Money with Amber Kanwar, the Founder & Senior Portfolio Manager at MLD Wealth, breaks down why his largest holding is cash—and why that doesn’t make him bearish. Instead, he’s running a barbell strategy: staying defensive while targeting opportunities in small-caps, natural resources, and the “backbone” of the AI trade...

Everyone calls David Rosenberg a permabear but he says he’s fully invested, just in completely different places than the consensus.

On this episode of In the Money with Amber Kanwar, Rosenberg breaks down why he’s still in the market despite sounding the alarm on what he sees as extreme valuations, bubble-like behaviour, and a dangerous level of investor complacency. From a “teflon market” that shrugs off every shock, to an equity market where investors are effectively paying to take risk, he explains why this cycle feels eerily similar to the late-90s tech mania.

He pus...

Inflation is surging again and it’s driving savvy investors to rethink how to manage their portfolios. So, what assets should you buy right now to protect your wealth?

On this episode of In the Money with Amber Kanwar, James Davolos, Portfolio Manager and Director of Research at Horizon Kinetics, breaks down why investors need to reconsider everything they know about portfolio construction in a higher inflation world. He explains why a simple “buy gold” strategy isn’t enough, why real assets are still early in a long-term cycle, and why targeting 10%+ returns is essential just to stay ahe...

Canada just slipped into a technical recession, stocks are sitting at record highs— and one renowned $22 billion firm is leaning in, not backing away.

On this episode of In the Money with Amber Kanwar, Alex Letko, Portfolio Manager at LetkoBrosseau, explains why he remains bullish on Canada despite growing skepticism. While headlines point to slowing GDP, he argues the underlying economy is more resilient than it feels—supported by real wage growth and steady consumer spending. He also tackles a debate in the market right now: Canadian banks trading at record highs and premium valuations. Rather than call...

“Patience is a virtue—sometimes the best trade is the one you don’t rush.” On this episode of In the Money with Amber Kanwar, Jimmy Lebenthal, Chief Equity Strategist & Partner at Cerity Partners, makes the case for looking where others aren’t. He explains why patience still wins, how to navigate “parabolic” markets, and why he’s still putting fresh money to work in names like Cisco (CSCO)—a stock he’s owned for over a decade that’s now finding new life in the AI buildout. He also shares lessons from his new book, How to Ride the Subway: Getting Ar...

Semiconductors are ripping, trillion-dollar valuations are becoming the norm, and now the most hyped IPO in years is looming. So… is this the moment everything peaks? On this episode of In the Money with Amber Kanwar, Mark Sebastian, Founder of Option Pit, returns with a view of a market that’s moving faster—and getting more crowded—by the day. From Micron’s explosive run to Nvidia’s “vampire trade” losing steam, Mark explains how capital is rotating across semis in real time—and why he’s not shorting this market, even as signs of froth start to build. He points to Intel...

Global markets keep climbing despite geopolitical tension, shifting rate expectations, and nonstop headlines—but how should you actually build an ETF portfolio in this environment? According to Ryan Lewenza, it all comes back to one thing: earnings. Strong revenue growth, record profit margins, and resilient fundamentals are what continue to power equities higher, even as uncertainty lingers. In this episode of In the Money with Amber Kanwar, Amber sits down with the Senior Portfolio Manager, Private Client Group from Turner Investments to break down how to construct a disciplined ETF portfolio around what actually drives returns—and why chasing narr...

Global electricity demand is growing more than twice as fast as overall energy demand, according to the International Energy Agency—so how should investors be positioned to capitalize on this explosive shift?

On this episode of In the Money with Amber Kanwar, Robert Thummel, Managing Director & Senior Portfolio Manager at Tortoise Capital, explains why “electricity is the new oil” and how the rise of AI, data centres, and electrification is driving a once-in-a-generation opportunity across energy infrastructure, natural gas, and power generation. With over 30 years of experience investing through multiple commodity cycles, he lays out why investors should...

The price of admission is $25 million — and how you invest changes completely once you get there. On this episode of In the Money with Amber Kanwar, Stephen Harvey, CIO of Sagard Wealth, breaks down how ultra-high-net-worth investors are positioning portfolios today — and why it looks nothing like a traditional 60/40. He explains how families are increasingly thinking like institutions, with heavy allocations to private markets, real assets, and global opportunities. From the AI capex boom to the case for commodities, Japan, and even Brazil, Harvey lays out where he sees the biggest opportunities — and why owning the “picks and shovels” of major t...

“If tech was the best performer for 25 years because it took in all the cash… what do you think happens when all the cash flows into commodities and infrastructure?” 

That’s the big question driving today’s conversation—and according to Daniel Dreyfus, the answer could define the next decade of investing. In this episode of In the Money with Amber Kanwar, Daniel Dreyfus, Chief Investment Officer at Bornite Capital, lays out his high-conviction thesis that we are in the early stages of the largest capital spending cycle in modern history. From AI-driven data centre demand to aging power g...

AI is forcing investors to rethink one of the most time-tested strategies in the market—and it could have major implications for how you build your portfolio. On this episode of In the Money with Amber Kanwar, Dan Rohinton, Portfolio Manager at iA Global Asset Management, makes the case that the traditional buy-and-hold approach is no longer as reliable in a world where artificial intelligence is accelerating disruption across nearly every industry.

Rohinton explains why the AI supercycle is simultaneously creating massive opportunity while eroding the durability of long-standing business models—from software and consulting to telecom and...

The market isn’t just rotating—it’s being rewritten. In this episode of In the Money with Amber Kanwar, Paul Moroz, Portfolio Manager at Mawer Investment Management which has more than $65 billion in AUM, explains why we’ve entered an era of “change investing,” where the biggest opportunities—and risks—come from rapid shifts in technology, competitive advantage, and capital intensity. From AI disrupting software to semiconductors becoming a larger share of the global economy, Moroz breaks down how investors can navigate a market where “barbarians are at the moat” and not every dominant company is safe. He also shares why bala...

The Nasdaq 100 went from a seven-month low to a record high in April—posting its biggest monthly gain since 2002. But as tech stocks rip higher, Kieran Moore says the real opportunity isn’t owning everything… it’s knowing what to avoid.

In this episode of In the Money with Amber Kanwar, Kieran Moore, Equity Partner & Portfolio Manager at Munro Partners, breaks down what’s really driving the explosive rebound in growth—and why he’s getting more selective, not less. He explains why AI demand is quietly surging beneath the surface, with usage (or “token demand”) tripling in just a few mont...

Small-cap stocks have significantly outperformed their large-cap peers so far this year but valuations remain at a massive discount, so what names should be on your radar?

On this episode of In the Money with Amber Kanwar, Aubrey Hearn, Senior Vice-President, Portfolio Manager & Lead – U.S. & Small Cap Equities at CI Global Asset Management, makes the case that the small-cap opportunity is far from over. He explains why this is more than just a catch-up trade, pointing to a massive valuation gap where small caps are trading at a 30% discount to large caps despite typically commanding a pr...

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 under...

The best opportunities in the market might be the ones no one is paying attention to — and that’s exactly where microcap investor Mathieu Martin is looking.

On this episode of In the Money with Amber Kanwar, Amber sits down with Mathieu Martin, Portfolio Manager for the Rivemont MicroCap Fund, to break down one of the most underfollowed — and potentially most lucrative — corners of the market. Martin explains why microcaps, often ignored by institutions and analysts, offer a unique edge for investors willing to do the work. Drawing on his unconventional path from poker to portfolio management, he share...

If you can’t beat them, join them. That’s the mindset Marc Robinson brings to small cap investing right now. The Managing Director at FAX Capital makes the case that the traditional small cap playbook is broken—capital is leaving public markets, private equity is stepping in, and more companies are choosing to go private. His solution: blend public and private investing, take concentrated positions, and actively push for outcomes. He explains how his 70/30 strategy works, why active ownership is critical in Canada’s inefficient small cap market, and how investors can capture a “second bite of the apple” whe...

The investing playbook may be changing—and Tyler Rosenlicht, Portfolio Manager, Global Infrastructure at Cohen & Steers, says investors need to be ready. In this episode of In the Money with Amber Kanwar, Rosenlicht makes the case that we’re moving from an era of abundance to an era of scarcity—where inflation is higher, more volatile, and driven by structural shifts like deglobalization, supply chain reshoring, and rising geopolitical risk. He explains why real assets—like infrastructure, natural resources, and commodities—could play a much bigger role in portfolios, and why now may be the time to move to the higher...

John Zechner has seen this movie before — and when everyone’s on the same side of the trade, he starts looking the other way.

The Chairman & Founder of J. Zechner Associates joins Amber Kanwar to break down how he’s positioning his portfolio in a market driven by noise, geopolitics, and crowded trades. From calling the recent energy shock a potential “9/11-type” shift in investor psychology to arguing that markets are still mispricing long-term risks, Zechner lays out why being contrarian today could pay off tomorrow.

He explains why he’s adding selectively to oil while stayin...

Bullish Brian Belski is back—and yes, he’s still bullish.

In this episode of In the Money with Amber Kanwar, the CEO & Chief Investment Officer of Humilis Investment Strategies—fresh off launching his own firm—explains why he still believes the U.S. is the best stock market in the world, with Canada a close second. Belski makes the case for an earnings-driven market where stock picking, discipline, and long-term thinking matter more than macro noise. He also explains why he’s underweight the MAG 7, why  U.S. banks look unfairly punished, why risks are building in private...

The AI trade isn’t just about tech anymore — it’s about all stocks. In this episode of In the Money with Amber Kanwar, Kim Bolton, President & Portfolio Manager at Black Swan Dexteritas, argues we’re entering the next phase of the AI cycle, where the winners won’t just be the companies building the technology — but the ones using it to drive real earnings. As he puts it, investors need to rethink what a “tech stock” even is.

Kim explains why this recent pullback in tech looks more like a healthy consolidation than a structural break, and why software...

What happens when the war ends — and what is the market getting wrong right now? Peter Boockvar, Chief Investment Officer at One Point BFG Wealth Partners, joins In the Money with Amber Kanwar to break down what he sees as some of the most mispriced trades in global markets. From oil to gold to global equities, Boockvar argues that investors are too focused on short-term geopolitical moves — and missing the bigger structural shifts already underway.

He explains why even if the war de-escalates, oil prices are unlikely to return to pre-war levels, laying out the case for a hi...

The nuclear story has completely flipped — and according to Cameco CEO Tim Gitzel, this is now the strongest market he’s seen in over 40 years.

In this conversation on In the Money with Amber Kanwar, Gitzel explains why uranium and nuclear energy have gone from a post-Fukushima downturn to a full-scale global comeback. He walks through the turning points — from the shutdown of Japan’s reactors and a decade-long bear market, to today’s surge driven by climate goals, energy security concerns, and rising geopolitical tensions. As countries rethink their dependence on foreign energy and fragile supply cha...

Dividend growth is supposed to be the safe corner of the market — but what happens when geopolitics, inflation shocks, and an evolving AI trade collide all at once?

In this episode of In the Money with Amber Kanwar, Amber sits down with Amritha Kasturirangan, Co-Lead Portfolio Manager of the Franklin U.S. Rising Dividends Fund at Franklin Templeton, to break down how she’s navigating markets in a time of war. Running a $30 billion strategy built on dividend growth, she explains why she’s not chasing yield — but instead using consistent dividend growth as a signal of resilien...

Markets are volatile again but is this sell-off creating the next generation of multi-bagger stocks? In this episode of In the Money with Amber Kanwar, Optimist Fund’s Jordan McNamee breaks down why he’s staying aggressively bullish despite market panic driven by AI disruption fears, geopolitical tension with Iran, and rising interest rate uncertainty.

Jordan explains why today’s market setup may be even more attractive than 2022, highlighting how growth stocks and mid-cap equities are being mispriced despite improving fundamentals, rising earnings, and stronger profitability. He shares how his high-conviction investing strategy focuses on except...

The world is entering a new era of commodity volatility — and the infrastructure that powers global markets may be overdue for a redesign. Josh Crumb, Founder & CEO of Abaxx Technologies, joins In the Money with Amber Kanwar to explain why he believes the next generation of commodity markets will look very different from the ones investors rely on today.

Abaxx is building both a commodity exchange and a technology platform designed to modernize how physical commodities trade and settle globally. The company focuses on markets that have been historically underserved by traditional exchanges — including liquefied natural gas (LNG...

Recorded on March 5, 2026

Canada’s banking system is often described as one of the strongest in the world — but even strong systems face real risks. Peter Routledge, Superintendent of Financial Institutions, joins In the Money with Amber Kanwar for a rare conversation about the health of Canada’s financial system and what still keeps the country’s top banking regulator up at night.

Routledge discusses the key risks his office is watching closely right now — from rising U.S.-Canada trade tensions to vulnerabilities in Canada’s mortgage market. He explains how regulators think about household de...

The oil market has been rocked by escalating tensions in the Middle East, massive price swings, and a growing debate over whether the world is heading into a full-blown energy shock. In this special two-part episode of In the Money with Amber Kanwar, we bring you perspectives from both sides of the market.

First, Josh Young, Portfolio Manager at Bison Investments, breaks down the crisis from the buy side, explaining why he believes the oil market was already tightening long before the latest geopolitical escalation and why the risk of a major supply shock is being underestimated...

Small caps are finally having their moment — and according to Greg Dean, Founder & Lead Investor at Langdon Equity Partners, the opportunity set may be bigger than most investors realize. In this episode of In the Money with Amber Kanwar, Greg explains why he focuses exclusively on global small-cap companies and how he searches the world for businesses that can potentially double over the next 3–5 years. He shares the disciplined framework behind his strategy, why he avoids highly leveraged businesses, and why volatility and market stress often create the best entry points for long-term investors.

The conversation also dive...

The oil market just got a historic geopolitical shock — and Eric Nuttall says market complacency is creating a major opportunity in energy stocks.

Geopolitics has jolted the oil market — but according to Eric Nuttall, the real story for investors was already unfolding long before the latest headlines. The Partner & Senior Portfolio Manager at Ninepoint Partners, joins In the Money with Amber Kanwar for an emergency session to break down the implications of the Iran crisis, why the market may be dangerously complacent about global oil supply, and why he believes energy stocks remain in a multi-year bull mark...