In the Money with Amber Kanwar

The world is undergoing a seismic shift, and according to Daniel Dreyfus, Chief Investment Officer at Bornite Capital, we are in the midst of a major regime change that will redefine economies, industries, and financial markets. In this conversation, Dan explains why a new era of tariffs will be massively inflationary and why buying infrastructure and critical commodities will be the best way to protect your money. He says commodities are set to benefit, and suggests the price of gold could go as high as $4000 per ounce.

Dan explains how investors can position themselves before the market fully adjusts to this fundamental transformation and offers specific stocks to buy in order to get ahead, including names like Cheniere Energy, Talen Energy and Ivanhoe Mines.

This isn’t just another market cycle—this is a massive structural change. Don’t miss out on the opportunity to find out how you can profit.

Timestamps

00:00 Show intro

02:45 Dan on starting his fund in 2020
05:15 Dan says we’re entering a massive global regime change of tariffs and austerity and explains what can protect your money
11:15 Dan says gold could hit $4000
16:50 Why Dan views gold as a currency not a commodity- and why he thinks it’s the best one

19:45 ITM Mailbag: Does it make sense to buy, sell or hold South Bow Corp (SOBO.TO)?
29:00 What is holding Barrick Gold (ABX.TO) back?
36:15 Dan’s favourite gold stock (SKE.TO)
40:25 Dan’s thoughts on copper and does he like Teck Resources (TECK.B.TO)
46:30 Why Dan likes GFL Environmental (GFL.TO)
51:55 Dan’s Pro Picks

Sponsors
This episode is sponsored by BMO InvestorLine. If you’re a “Do It Yourself" investor, BMO InvestorLine Self-Directed is the perfect platform for you. With powerful tools and commission-free trading on over 100 ETFs, you’ll have everything you need to take control of your investments and build a portfolio that’s right for you. Learn more at https://bmo.com/InvestorLine?ecid=pr-2886232INV1-JNBMO14

For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.

Pro Picks is brought to you by ATB Financial. With $62 billion in assets, ATB Financial is powering possibilities for more than 820,000 financial services clients in Alberta and beyond. Visit https://ATB.com/inthemoney for more information.

Links

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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.

BMO DISCLAIMER

Terms and conditions apply. BMO InvestorLine is a wholly owned subsidiary of Bank of Montreal. Member – Canadian Investor Protection Fund and Member of the Canadian Investment Regulatory Organization.

The opinions and views expressed in this presentation are those of the presenter and not necessarily BMO InvestorLine Inc. This presentation is prepared as a general source of information and is not intended to provide legal, investment, accounting or tax advice, and should not be relied upon in that regard. If legal or investment advice or other professional assistance is needed, the services of a competent professional should be obtained. Any information contained in this presentation does not constitute and shall not be deemed to constitute advice, an offer to sell/purchase or as an invitation or solicitation to do so for any entity. The content of this presentation is based on sources believed to be reliable, but its accuracy cannot be guaranteed. BMO Investo...

The market is in panic mode, are there opportunities to profit? In this episode of In The Money with Amber Kanwar, we dive into how the Optimist Fund is proving that bold, high-conviction investing can lead to massive returns—by taking advantage of volatile times. Jordan McNamee, founder of the fund, shares why betting on visionary CEOs and misunderstood stocks is his formula for success.

From Carvana’s explosive comeback to his top three stock picks that could double, triple, or even 4X, Jordan reveals the opportunities hiding in plain sight—and why most investors are missing them. He also breaks down how he turned a 50% loss into a huge win, why fear doesn't dictate his strategy, and what he’s seeing in the market right now.

If you’re looking for contrarian insights, high-growth investing strategies, and a fresh take on navigating uncertainty, this episode is for you.

🔔 Subscribe for more expert insights and investing strategies!

#StockMarket #Investing #GrowthStocks #HighConvictionInvesting #Carvana #Finance

Timestamps

For detailed show notes, navigate using the timestamps below:

00:00: Show intro

02:00: Philosophy behind Optimist Fund

04:07: Jordan explains why macro doesn’t drive his investment decisions

05:08: Jordan goes through his returns and how he had to claw back from a big drop in 2022

07:32: Why Jordan makes concentrated bets

09:40: The importance of the CEO when it comes to buying a stock

11:20: Jordan explains who is backing his fund

12:50: Jordan explains why he doesn’t see another “2022” style pullback in tech

13:35: Mailbag questions

13:40: Why Uber can be a $1 trillion company

18:07: Jordan gives his thoughts on DoorDash

19:27: Jordan talks about why Revolve can quadruple

24:05: Jordan says he still likes Wayfair

27:50: Monday.com has big market share opportunity

30:55: Jordan is steering clear of Airbnb...for now

33:00: ProPicks

48:56: Thank you and goodbye

Sponsors
This episode is sponsored by BMO InvestorLine. Investing can be intimidating, but it doesn’t have to be. With BMO InvestorLine, you have the tools and resources you need to make informed decisions and build a successful portfolio. Their easy-to-use platform, packed with research, tools, and commission-free trading on over 100 popular ETFs, can help you take control of your financial future. Learn more at https://bmo.com/onlineinvesting?ecid=pr-2886232INV1-JNBMO16

For over 25 years, Raymond James has been helping Canadians achieve their financial goals. They are Canada's largest independent financial services firm with over 520 dedicated advisors, $88 billion in assets under management, and capital markets services. With no proprietary product to push, their advisors are free to focus on the unique needs of their clients. Whether you are saving for your children’s education, preparing for retirement, or safeguarding wealth for future generations, Raymond James is committed to guiding you every step of the way. Visit raymondjames.ca today to discover how you can live a life well planned.

Pro Picks is brought to you by ATB Financial. With $62 billion in assets, ATB Financial is powering possibilities for more than 820,000 financial services clients in Alberta and beyond. ATB's Capital Markets arm is a full-service investment dealer that offers investment and corporate banking, sales and trading, institutional research, and risk management. Visit ATB.com/inthemoney for more information

Links

Follow In the Money:

Visit the website: https://inthemoneypod.com/

Submit a question: [email protected]

Follow In the Money on Instagram: https://www.instagram.com/inthemoneypod/?hl=en

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

Twitter/X: https://twitter.com/inthemoneypod

TikTok: https://www.tiktok.com/@inthemoneypod?lang=en

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.

BMO DISCLAIMER

Terms and conditions apply. BMO InvestorLi...

The threat of a trade war and political uncertainty in Canada are enough to keep you up at night. In this episode of In the Money with Amber Kanwar, Martin Pelletier of Trivest Wealth tells us how investors can reduce risk. He talks about why it's important to preserve capital, not just grow it. He answers your questions and gives his best investing ideas for a portfolio that will allow you to rest easy.

Recorded on: Wednesday February 5th, 2025

Timestamps

For detailed show notes, navigate using the timestamps below:

00:00: Show intro with Martin

1:10: Amber & Martin chat tariffs, Canadian politics and risk management

15:40: Martin answers two questions on Baytex Energy

21:45: Martin explains what a trade war with China means for stocks like Apple & Tesla

28:45: Martin answers a question on silver and $SILJ

30:30: Martin answers a question about the Canadian dollar and the outlook for Canadian stocks

35:00: Martin answers a question on how tariffs may affect mortgage rates

Sponsors

Pro Picks is brought to you by ATB Financial. With $62 billion in assets, ATB Financial is powering possibilities for more than 820,000 financial services clients in Alberta and beyond. ATB's Capital Markets arm is a full-service investment dealer that offers investment and corporate banking, sales and trading, institutional research, and risk management. Visit ATB.com/inthemoney for more information

Links

Follow In the Money:

Visit the website: https://inthemoneypod.com/

Submit a question: [email protected]

Follow In the Money on Instagram: https://www.instagram.com/inthemoneypod/?hl=en

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

Twitter/X: https://twitter.com/inthemoneypod

Follow Martin:

X: https://x.com/MPelletierCIO

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.

When markets are in turmoil, investors traditionally flock to healthcare for stability — but what happens when healthcare itself is a flashpoint for volatility? In this episode of In the Money with Amber Kanwar Robert Moffat of Middlefield joins to unpack the biggest headwinds facing the sector right now.

From the controversial appointment of RFK Jr. to looming drug tariffs, Rob dives deep into the policy and market forces disrupting pharma, medtech, and healthcare services. He shares why he's staying defensive, what names he's avoiding (sorry, Pfizer holders), and where he's seeing opportunities amid the chaos.

In a volatile healthcare market, Rob explains why he’s particularly positive on GLP-1 weight loss and diabetes medications which he says are reshaping the future of healthcare. He tells us why Eli Lilly, which makes Mounjaro and Zepbound, is his top holding and why he prefers it over Ozempic maker Novo Nordisk. He also suggests other names he likes right now including Abbott Laboratories and McKesson, which he says is the ultimate defensive safe haven company in healthcare.

Timestamps

00:00 Show Intro
01:40 Rob’s approach to volatility in healthcare

03:10 RFK Jr. and his impact on the healthcare sector
06:50 The headwind from tariffs
13:00 Why Rob thinks M&A in the pharma space is definitely coming
14:50 ITM Mailbag: Rob’s outlook on Pfizer (PFE.NYSE)
18:35 Rob’s thoughts on UnitedHealth Group (UNH.NYSE)
22:00 Why Rob thinks CVS (CVS.NYSE) is one of the biggest ‘show me’ stories in healthcare

27:35 Rob’s thoughts on Medtronic (MDT.NYSE) and its dividend

30:35 Rob’s outlook on Stryker (SYK.NYSE)
33:15 Rob’s view of Johnson & Johnson (JNJ-NYSE) in light of tariffs
35:30 Rob’s Pro Picks

47:30 Goodbye & coming up

Sponsors

​​This episode is sponsored by BMO InvestorLine. Learn more at https://bmo.com/advancedtrading

For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.

Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more information

Links

https://inthemoneypod.com/

https://instagram.com/inthemoneypod

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

https://twitter.com/inthemoneypod

https://tiktok.com/@inthemoneypod

[email protected]

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.

BMO DISCLAIMER

Terms and conditions apply. BMO InvestorLine is a wholly owned subsidiary of Bank of Montreal. Member – Canadian Investor Protection Fund and Member of the Canadian Investment Regulatory Organization.

In this episode of In the Money with Amber Kanwar top tech investor Dan Niles warns that the market could drop as much as 50%, just like during the dot-com bust and the global financial crisis. He unpacks the major risks that investors aren’t paying enough attention to like AI over exuberance and demand being pulled forward as a result of Trump’s trade war, while drawing parallels to some of the worst market crashes in history.

Dan explains why his highest conviction idea right now is cash despite the AI hype, and why some of today’s biggest tech names — like Apple, Google, and Palantir — may be far more vulnerable than most investors realize. He stresses his concern over inflated valuations, making the point that “just because a stock is popular doesn’t mean it’s safe".

One area Dan is optimistic about: networking infrastructure. He names Cisco as one of his most intriguing picks, arguing it's a forgotten name that could benefit as AI shifts from a build-out phase to a data movement phase. With a low valuation, solid fundamentals, and potential for a re-rating, Cisco — along with cash, Microsoft, and (cautiously) Nvidia — rounds out his list of favoured plays in a market he still views as overvalued and vulnerable.

Whether you’re a long-term investor or a market watcher trying to make sense of the rally, this is an essential deep dive from one of Wall Street’s most seasoned voices.

Timestamps

00:00 Show Intro
3:40 Why Dan Niles is bearish right now and why cash is his highest conviction idea

07:40 What would it take for Dan to come back to the market and get out of cash?

09:35 Why Dan thinks a 50% drop in stocks is on the table
11:30 Why this time can be compared to the dot-com bust
17:33 Taking a look at the AARK Innovation Fund
19:15 But could this time be different?
24:25 ITM Mailbag: Dan’s thoughts on Palantir (PLTR) and its sky-high valuation

27:40 Dan’s view on Shopify vs. Amazon (SHOP, AMZN)

34:15 Is Reddit a buy, sell or hold? (RDDT)
35:35: Break: Amber speaks to the CEO of Raymond James Canada about how the company is helping clients navigate volatility and change
38:15 Why Dan thinks Google will be a market share loser because of AI
42:50 How does Dan see the Robotaxi battle playing out?
44:50 Where does Apple fit in?
47:00 Pro Picks: Why he likes cash the best but suggests some other stocks (CSCO, MSFT, NVDA)

56:00 Goodbye & coming up

Sponsors

​This episode is sponsored by BMO InvestorLine. Open a new BMO InvestorLine account, and you could receive up to $3,500 cash back. It’s a great way to jumpstart your investment plan. Learn more at https://bmo.com/onlineinvesting?ecid=pr-2886232INV1-JNBMO16

For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.

Pro Picks is brought to you by ATB Financial. With $62 billion in assets, ATB Financial is powering possibilities for more than 820,000 financial services clients in Alberta and beyond. Visit https://ATB.com/inthemoney for more information

Links

https://inthemoneypod.com/

https://instagram.com/inthemoneypod

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

https://twitter.com/inthemoneypod

https://tiktok.com/@inthemoneypod

[email protected]

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.

BMO DISCLAIMER

Terms and conditions apply. BMO InvestorLine is a wholly owned subsidiary of Bank of Montreal. Member – Canadian Investor Protection Fund and Member of the Canadian Investment Regulatory Organization.