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In the Money with Amber Kanwar: Daily Summaries Delivered
by Amber Kanwar
In the Money with Amber Kanwar brings you actionable ideas from top money managers to help you make profitable decisions. As one of Canada’s most recognizable business journalists and the former host of BNN Bloomberg’s Market Call, join Amber as her guests answer your questions on individual stocks and offer their best investment ideas.
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- 3 days ago53 min
Why One of the World’s Biggest Gold Miners Is Doubling Down on Canada
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.Timestamps00:00 Trailer01:42 Intro04:07 Agnico Eagle CEO on What the Investment Summit Meant for Canada04:56 Why Jurisdiction Matters to Investors07:31 Canada’s Economic Shift09:12 The Sea Change in Government Support11:20 Mining, Defense, and Nunavut Infrastructure14:09 Can Canada Approve Projects in One Year?16:05 Will New Policies Drive More Investment?18:32 What Still Needs to Change in Canada20:28 Why Agnico Eagle Has Outperformed22:03 The Culture Behind Agnico Eagle’s Success24:17 A Regional Strategy for Long-Term Growth26:00 Agnico Eagle vs. Barrick’s Strategy27:04 The Lessons of Mining’s Boom-and-Bust Cycles29:33 What’s Driving Gold Prices?34:01 Could the Bank of Canada Buy Gold Again?35:07 Managing Inflation and Rising Mining Costs39:39 Agnico Eagle’s Production Growth Plans41:48 Will Agnico Eagle Make More Acquisitions?43:09 The Best Mining Regions in the World46:25 Agnico Eagle and Critical Minerals49:18 Financing Canada’s Resource Future51:17 The CEO’s Hobby Farm52:02 Closing ThoughtsSponsorsThank 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.comAll 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/83ftma8xSupport 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-mailinfo@haliburtonposthouse.ca for more information. Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@inthemoneypodquestions@inthemoneypod.comDISCLAIMERS 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 o
- 5 days ago1h 10m
Dan Niles: AI Won’t Kill Us—But Some AI Stocks Won’t Survive
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.Timestamps00:00 Trailer2:15 Intro 03:37 Dan Niles on AI Risk08:35 What Slower AI Spending Means for Semiconductors10:49 Is the AI Boom Turning Into a Bubble?13:58 Open-Source AI vs. Frontier Models16:27 The AI Shakeout: Who Will Survive?19:34 Why Dan Is Bearish on the Market21:01 Bonds, Debt, and the Risk of a Major Sell-Off28:14 Why Credit Markets Matter for Big Tech30:51 Dan Niles’ Changing View on Google35:55 ITM Mailbag: Snowflake stock (SNOW) and the Software Sector40:46 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 DramasSponsorsThank 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.comAll 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/83ftma8xSupport 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-mailinfo@haliburtonposthouse.ca for more information. Linkshttps://inthemoneypod.com
- 1 weeks ago55 min
JF Tardif: “We’re Definitely Ready” If Markets Turn Ugly
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/Timestamps00:00 Trailer 02:17 Introducing JF Tardif 04:17 Canada, the US, and rising tariff tensions07:54 The AI trade and the risk of peak spending10:18 Why gold may be more attractive than copper11:24 Hedging with shorts and put options13:01 JF’s high conviction gold ideas14:40 The H&R REIT take under19:43 Mailbag begins21:16 Are Canadian banks too expensive and JF’s short process28:30 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 bellSponsorsThank 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.comAll 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/83ftma8xSupport 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-mailinfo@haliburtonposthouse.ca for more information. Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@inthemoneypodquestions@inthemoneypod.comDISCLAIMERS 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 guest
- 1 weeks ago1h 10m
Rick Rule: Commodity Weakness Is Coming—Here’s What to Buy
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/Timestamps0:00 Trailer: Rick Rule on commodities, gold, and oil0:39 Episode intro and season premiere setup2:02 Disclaimer and what this episode covers2:28 Welcome to the season premiere with Rick Rule4:49 Commodities near-term outlook, rates, dollar, and inflation6:34 Why inflation and bond yields may stay sticky8:34 Debt, deficits, and why the cycle feels familiar9:58 Lessons from the 1970s inflation era12:52 Why falling commodity prices can be buying opportunities15:00 Gold, war, and negative real interest rates17:36 Why oil has not reacted like a true shock yet19:30 When oil shortages become structural22:57 How Canada can better position itself26:16 Rick Rule’s investing method and edge29:55 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, mentoringSponsorsThank 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/83ftma8xSupport 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.
- 2 weeks ago30 min
Richard Abboud: Building a $4 Billion Business—and a More Ambitious Canada (SPONSORED)
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.Timestamps00:00 Intro00:09 Sponsor message and disclaimer00:33 Welcome to the final installment of the innovation series01:01 Richard Abboud’s background and what this conversation covers01:54 Richard’s origin story and entrepreneurial journey03:37 First business: teenage dances and early lessons04:46 From broker to Forum Asset Management05:22 Forum today: assets, student housing, and self-storage07:15 Why student housing and self-storage still make sense08:49 Immigration, population trends, and student housing demand10:04 How the fund is structured for investors11:42 Retail investor access and current opportunities13:07 Long-term outlook for the asset class14:51 Why Richard got involved in Canadian innovation15:43 Midlife pause, then back to building16:38 Canada’s innovation problem and cultural barriers17:57 Shift Canada and the Shift Failure program19:00 Teaching kids to embrace failure21:44 Can Canada celebrate entrepreneurs better?23:24 Why CEOs are speaking up now25:26 What still needs to happen in Canada26:24 Tariffs and consumer confidence27:03 How the business is adapting27:37 Fun, hobbies, and travel29:00 Closing remarks and next episode teaserSponsorsThis 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-mailinfo@haliburtonposthouse.ca for more information. Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@inthemoneypodquestions@inthemoneypod.comDISCLAIMERS 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 nece
- 3 weeks ago45 min
Canada’s SpaceX: The New Space Race—and Living on the Moon by 2028
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.Timestamps0:00 Sponsor intro and opening0:58 Welcome and why the space economy matters2:45 Rapid-fire with Mike Greenley5:30 Canada’s place in the space boom8:52 Defense, urgency, and how Canada scales capability12:48 Why this time could be different14:00 What industry wants from government17:04 Defense procurement: best equipment vs. Canadian industry20:38 Partnerships, sovereignty, and the Gateway pause23:57 Canada’s mining edge in the new space race26:36 Winning public support for space31:37 ESG, capital, and space investment35:29 Building a stronger Canadian space ecosystem37:37 Why U.S. expansion matters39:06 When commercial moon trips become real41:39 Outro and next episode teaseSponsorsThis 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 Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@inthemoneypodquestions@inthemoneypod.comDISCLAIMERS 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 #CanadianInvest
- Aug 18, 202644 min
Adam Waterous: Canada Can Become the Next Energy Superpower
Canada has spent years talking about its energy potential. Adam Waterous thinks the country is finally ready to realize it.In the third episode of our special summer innovation series, Can Canada Meet the Moment?, host Amber Kanwar sits down with Adam Waterous, CEO & Managing Partner of Waterous Energy Fund, to discuss why he believes Canada has a once-in-a-generation opportunity to become a global energy superpower.Waterous lays out his “down five, up five” thesis: over the next decade, he expects U.S. oil production to fall by roughly five million barrels a day while Canada has the potential to add five million—doubling its production and putting it in a position to compete with Saudi Arabia as one of the world’s largest oil producers.But getting there won’t be simple. Waterous breaks down the compromises behind Canada’s new energy ambitions, why the public sector is taking a bigger role in pipeline development, the regulatory and tax hurdles still facing producers, and what needs to happen to attract investment and actually fill those pipelines. He also explains why he believes the shift could be transformational for the Canadian economy and fundamentally change Canada’s leverage with the United States.Plus, Waterous discusses how he’s positioning his own companies for this new era, why long-life oil assets matter, what he looks for when buying energy assets, and where he sees opportunities after years of consolidation.Can Canada meet the moment? Waterous is unequivocal: he believes Canada’s position in the world has never been stronger.This interview was recorded during the Calgary Stampede, prior to Greenfire Resources announcing its $1.28-billion cash deal to acquire privately held heavy oil producer Connacher Oil and Gas Ltd on July 13, 2026.Timestamps00:00 Intro and sponsor message02:44 Canada’s energy moment03:23 The “down five, up five” thesis06:46 The GDP impact of growth08:03 The federal shift on energy13:37 Public vs. private sector paths17:09 Pipeline economics explained23:09 Carbon tax and production incentives28:33 Will investors come back?31:26 Why U.S. energy is vulnerable33:27 How he values assets35:25 Why scale matters in oil sands38:15 Greenfire and the neighborhood strategy41:51 Can Canada meet the moment?SponsorsThis 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 Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@inthemoneypodquestions@inthemoneypod.comDISCLAIMERS 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
- Aug 11, 20261h 15m
Canada Is Losing Founders. Can It Turn Things Around?
Canada has no shortage of world-class entrepreneurs—but are we creating the right conditions for them to build the next generation of global companies here at home? In the second episode of our special summer series Can Canada Meet the Moment?, host Paige Ellis sits down with two successful Canadian founders who offer very different perspectives on one of the country's biggest economic challenges.Michele Romanow, "Dragon" on CBC's Dragons' Den and Co-Founder of Clearco, argues Canada is making it harder to build and scale startups. She explains why more founders are choosing the U.S., how Canadian policies can discourage innovation, why we protect incumbents instead of challengers, and what needs to change if Canada wants to keep its best entrepreneurs.Laura McGee, Co-founder of Arterra and Executive Chair of Diversio, offers a more nuanced view. Drawing on her experience building businesses in both Canada and the United States, she explains why founders look south for capital, the cultural differences between the two countries, what Canada gets right, and why she believes Canadian entrepreneurs can still build world-class companies from home.If Canada wants to become a global innovation leader, what has to change? This conversation explores the policies, culture, capital, and mindset shaping the future of Canadian entrepreneurship.Subscribe to In the Money with Amber Kanwar for more conversations with the investors, founders, and business leaders shaping Canada's future.Timestamps00:06 Can Canada Meet the Moment brought to you by Forum Asset Management01:02 Meet Michelle Romanow02:34 Rapid-fire warmup08:21 Founder identity11:11 Why Canada loses startups14:11 Policy vs culture20:16 Rewarding oligopolies25:51 Founders voting with their feet27:31 Defense, health, and AI38:10 Canada’s AI opportunity43:01 Meet Laura McGee47:17 Diversio fundraising struggle53:02 Delaware structure and Canada01:05:52 Silicon Valley Bank collapse01:13:45 — What Canada must changeSponsorsThis 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 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 hamiltonetfs.com Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@inthemoneypodquestions@inthemoneypod.comDISCLAIMERS 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
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In the Money with Amber Kanwar brings you actionable ideas from top money managers to help you make profitable decisions. As one of Canada’s most recognizable business journalists and the former host of BNN Bloomberg’s Market Call, join Amber as her guests answer your questions on individual stocks and offer their best investment ideas.
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