In the Money with Amber Kanwar

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 dives into the big debate around software valuations and how the market is reassessing the long-term value of many tech companies. Greg walks through his view on the selloff in enterprise software and discusses what investors may be missing about durable software franchises. The discussion includes Constellation Software (CSU.TO) and why its acquisition-driven model and disciplined capital allocation have made it one of the most resilient compounders in the market.
In the Mailbag, Greg weighs in on a wide range of stocks across sectors. He shares his perspective on TerraVest Industries (TVK.TO) and why its acquisition-driven model has created significant value but now trades at a premium. He discusses retailer Group Dynamite (GRGD.TO), a Canadian success story with strong same-store sales growth but a valuation that reflects much of the optimism. Greg also breaks down why he likes A&W Food Services (AW.TO) as a capital-light restaurant and royalty business with an attractive yield and steady growth. The conversation also touches on U.S. insurance distributor Goosehead Insurance (GSHD) and the debate around AI disruption, as well as Canadian financial names EQB Inc. (EQB.TO) and Dominion Lending Centres (DLCG.TO) and how the evolving mortgage and lending landscape could shape their outlook.
For his Pro Picks, Greg highlights three high-conviction ideas he believes have strong long-term upside. First is YETI Holdings (YETI), where he sees a misunderstood brand expanding beyond drinkware into bags, coolers and international markets. Next is Royal Unibrew (RBREW.CO), a European beverage company producing and distributing beer, soft drinks and other beverages across several markets. Finally, he discusses Hypoport (HYQ.DE), a German fintech platform that connects banks and brokers through mortgage software and could see meaningful earnings growth as housing volumes recover.
If the market rotation into smaller companies continues, Greg believes the real opportunity may be in high-quality small caps that investors have never heard of — but that could quietly compound for years to come.
Timestamps
00:00 Trailer 
02:25 Intro
05:20 Greg’s approach to investing & starting Langdon 
06:50 The merits of investing in global small-caps 
08:10 How does he think about the current tensions? 
10:50 Fund performance 
13:40 What criteria is Greg looking for? 
15:20 Thinking about software 
18:00 CSU & the new terminal value of software 
21:40 ITM Mailbag: Terravest Industries stock (TVK) 
25:40 Groupe Dynamite stock (GRGD)
30:50 A&W Food Services (AW) 
34:30 Goosehead Insurance (GSHD) 
42:00 EQB Inc (EQB) 
46:00 Dominion Lending (DLCG) 
49:30 Greg’s Pro Picks (YETI, RBREW, HYG) 

Sponsors
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. For more information on ATB Cormark Capital Markets 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. In this episode we discuss Constellation Software which is a stock Amber owns. 
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: [email protected]

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

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 market. Eric explains why the widely anticipated oil “super-glut” never materialized, why U.S. shale production may have plateaued, and why long-dated oil reserves could become increasingly valuable in the years ahead. He also discusses why energy stocks have pulled back despite rising geopolitical risks and why patient investors could still see significant upside in the sector.
Before getting to the Mailbag, Amber asks Eric about Strathcona Resources (SCR), a stock he says he bought this week. Eric explains why he’s attracted to the company’s long-life reserves and discounted valuation compared with larger peers like Canadian Natural Resources (CNQ). The purchase comes even after Eric opposed the company’s now failed bid to buy MEG Energy (MEG). He explains why he sees compelling value in Strathcona today and why companies with deep, long-dated reserves could benefit the most if oil prices rise.
In the Mailbag, Eric tackles viewer questions starting with Baytex Energy (BTE), explaining why he doesn’t regret selling it and why the company’s recent rally reflects buybacks and a cleaner balance sheet after exiting the Eagle Ford. He then discusses Tamarack Valley Energy (TVE), where strong economics and improving results have driven a major run in the stock. From there he responds to a question on Logan Energy (LGN), warning that going too far down the market-cap spectrum can leave investors stuck in stocks without enough institutional buying power to drive a rerating. He then shares his thesis on Cenovus Energy (CVE) following its acquisition of MEG Energy (MEG), before turning to natural gas with Birchcliff Energy (BIR) and ARC Resources (ARX), where he explains why he’s currently less enthusiastic about Canadian gas. The Mailbag wraps with a blunt take on Surge Energy (SGY).
In Pro Picks, Eric first reflects briefly on some of his past ideas on the show — including Veren (VRN), MEG Energy (MEG), and NuVista Energy (NVA) — all of which were ultimately taken out, though he says he would rather see the full investment thesis play out than rely on M&A. Today he shares three current high-conviction ideas: Whitecap Resources (WCP), Athabasca Oil (ATH), and Ovintiv (OVV). He explains why Whitecap remains his largest holding thanks to its long inventory runway and discounted valuation, why Athabasca’s deep reserve base could become increasingly strategic in a tightening oil market, and why Ovintiv’s cleaner asset base and aggressive share buybacks could drive a meaningful re-rating if the company attracts more long-term institutional investors.
Timestamps
00:00 Trailer
02:30 Intro
05:00 Iran war implications for oil 
06:45 Domestically Trump needs lower energy prices
09:45 Where do oil prices go?
12:20 Why are energy stocks selling off? 
15:00 What Eric saw in Saudi Arabia
16:45 Why Eric was already bullish oil 
22:00 Why Eric bought Strathcona (SCR) this week 
27:00 Eric’s defence of the energy sector on parliament hill 
31:00 ITM Mailbag: Baytex stock (BTE)
33:30 Tamarack Valley Energy stock (TVE)
35:00 Logan Energy stock (LGN) 
37:50 Cenovus Energy stock (CVE)
39:30 Birchcliff Energy stock (BIR)
42:00 Arc Resources stock (ARX) 
44:00 Surge Energy (SGY) 
46:00 Eric’s Pro Picks ( WCP, ATH, OVV)

Sponsors
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. For more information on ATB Cormark Capital Markets visit https://ATB.com/inthemoney 
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. In this episode we discuss Canadian Natural Resources and Tamarack Valley Energy which are both stocks Amber owns.

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: [email protected]

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Small-caps are outperforming. Software stocks are getting crushed. Is this the great rotation? 
On this episode of In the Money with Amber Kanwar, Andrey Omelchak, President, CEO & CIO at LionGuard Capital, breaks down one of the biggest shifts happening in markets right now. As AI fears hammer software valuations and once-untouchable names get cut in half, small and mid-cap stocks are quietly catching a bid. Andrey explains why he believes the market has overreacted in parts of software — but also why select small caps, defense plays, and “Build Canada” beneficiaries may offer stronger risk-adjusted returns from here.
He shares how he’s thinking about geopolitics, rising oil prices, gold as a safe haven, and why defense spending is becoming one of the most obvious long-term investment themes. At the same time, he argues that today’s short-term market mindset is creating major inefficiencies — particularly in overlooked Canadian small caps.
In the mailbag, we tackle the AI disruption debate head-on with a look at major software names including Thomson Reuters (TRI) and Constellation Software (CSU), plus small-cap tech like Docebo (DCBO) and Kneat.com (KSI). Are these sharp drawdowns buying opportunities — or signs of structural change? Andrey also weighs in on engineering and infrastructure firms WSP Global (WSP), AtkinsRéalis (ATRL) and Stantec (STN), battery manufacturer Electrovaya (ELVA), healthcare roll-up WELL Health (WELL), fintech lender Propel Holdings (PRL), and GoEasy (GSY). Which names are unfairly penalized — and which still carry real risk?
In Pro Picks, Andrey highlights Calian Group (CGY), a defense and cybersecurity player benefiting from rising NATO and Canadian military spending; Bird Construction (BDT), a direct “Build Canada” infrastructure beneficiary with a rapidly expanding, higher-quality backlog; and Canaccord Genuity Group (CF), where he sees meaningful upside from a capital markets recovery and potential monetization of its UK wealth business.
Is this the beginning of a lasting market regime change — from software dominance to small-cap opportunity — or just another bout of AI-driven volatility?
Email us your questions @inthemoneypod.com and don’t forget to subscribe so you never miss an episode.
Timestamps
02:20 Intro
05:00 Andrey’s approach to small-cap investing
06:20 Investing through geopolitical events 
08:40 There appears to be sustained interest in the small-cap sector
10:30 Has the small-cap space gotten too expensive?
11:20 The biggest repricing of SaaS companies
14:50 ITM Mailbag: Thomson Reuters & Constellation Software stocks (TRI, CSU)
22:20 Docebo & Kneat.com stocks(DCBO, KSI)
24:45 Is it easy to find a software short right now? 
27:00 Stantec, AtkinsRealis, WSP Global stocks(STN, ATRL, WSP)
29:35 Electrovaya stock (ELVA)
34:40 Build Canada as an investable team 
36:50 WELL Health stock (WELL)
40:50 Propel Holdings (PRL)
46:15 Andrey’s Pro Picks (CGY, BDT, CF)

Sponsors
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 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 this episode we discuss Constellation Software and goeasy which are both stocks Amber owns. 

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: [email protected]

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

“I hate this market. It’s funny because we are strongly outperforming, but I still don’t like this market.”
That’s how dividend investor Rebecca Teltscher, Portfolio Manager at Newhaven Asset Management, sums up today’s market on this episode of In the Money with Amber Kanwar. Value is working. Dividend stocks are back. Utilities, pipelines and energy have seen major inflows. And yet, Rebecca says this is one of the hardest environments she’s seen to deploy capital, with sectors moving quickly from unloved to fully valued.
Before we get to the Mailbag, Rebecca explains why she’s staying patient in TELUS (T.TO) despite dividend concerns and a leadership transition, why long-held positions like Manulife (MFC.TO) have rewarded disciplined dividend investors who reinvested through volatility, and why she believes fixed income currently offers limited real returns relative to dividend-paying equities. With bond yields compressed and volatility creeping into the rate market, she argues dividend stocks have effectively become the new “safe haven” — even if the easy money has already been made.
In the Mailbag, we begin with the Canadian banks, including BMO (BMO.TO) and TD (TD.TO). Rebecca admits she was wrong last year not adding more exposure as the banks rallied, but says she now wants more clarity on the Canadian economy and the trajectory of loan-loss provisions before committing new capital. She then discusses consumer lender goeasy (GSY.TO) and why subprime credit risk doesn’t align with her capital-preservation philosophy. From there, she weighs the valuation debate around Dollarama (DOL.TO), breaks down the ongoing challenges in office real estate including Allied Properties (AP.UN), revisits the credibility issues and dividend reset at Northland Power (NPI.TO), analyzes Brookfield Asset Management (BAM) versus Brookfield Corp. (BN), and closes with energy producer Whitecap Resources (WCP.TO) and the sustainability of its dividend in a volatile oil environment.
In Pro Picks, Rebecca begins by revisiting her past ideas — including her long-time favourite Canadian Natural Resources (CNQ), along with Premium Brands (PBH.TO) and AltaGas (ALA.TO). On CNQ, she explains why its balance sheet strength, capital discipline and history of never cutting its dividend make it a core long-term holding she plans to own for decades. She then shares where she’s putting money to work now: CAE (CAE.TO) for its long runway in civil aviation and defense training, Algonquin Power & Utilities (AQN.TO) as a utility turnaround with new management credibility, and ARC Resources (ARX.TO) as a natural gas name with embedded growth and optionality.
Timestamps
00:00: Show trailer 
02:30 Intro 
04:30 Rebecca was right about value stocks over the past year 
06:20 Can investors kick their addiction to tech for more than just a short while? 
07:30 Can Rebecca bring herself to look at software? 
10:15 Why Rebecca holds on to the telcos like Telus (T) 
15:00 Why Rebecca considers herself a retail investor 
16:30 Is the value sector becoming expensive?  There’s been a sector rotation 
19:00 Dividend stocks have become the new safe bet 
20:50 How is Rebecca playing this expensive market? 
22:45 ITM Mailbag: Canadian banks (BMO, TD) 
28:50 goeasy stock (GSY)
32:30 Dollarama stock (DOL) 
37:25 Allied Properties REIT & the REIT market (AP.UN) 
44:00 Northland Power (NPI) 
49:15 Brookfield Asset Management (BAM) 
51:20 Whitecap Resources (WCP) 
54:30 Rebecca’s Past & Pro Picks (Past: CNQ, PBH, ALA, Pro: CAE, AQN, ARX)

Sponsors
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. In this episode we discuss CNQ, Dollarama, goeasy, Telus, CIBC and TD which are all stocks Amber owns. 
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: [email protected]

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Is sustainable investing still relevant — or was ESG just a pandemic-era trade?
On this episode of In the Money with Amber Kanwar we speak with Amber Fairbanks of Impax Asset Management to unpack the ESG backlash, the performance debate, and why she believes sustainable investing isn’t a label — it’s simply long-term investing done right. After years of inflows and hype, ESG has fallen out of favour, but Fairbanks argues the real opportunity may lie in focusing on durable secular trends, corporate culture, and risk management — not marketing buzzwords. From AI disruption to oil & gas exclusions, she explains where sustainability adds value, where it doesn’t, and why time horizon matters more than headlines.

In the Mailbag, we tackle some of the most talked-about names in the market: Nvidia (NVDA) ahead of earnings and whether its AI dominance can continue; Salesforce (CRM) amid the SaaS scare; Tyler Technologies (TYL) — a beat-up software name she believes is worth considering given its deep government relationships; Boston Scientific (BSX) after its sharp drop on guidance; Intuitive Surgical (ISRG) in medtech; Novo Nordisk (NVO) following its stunning fall from grace; and Palo Alto Networks (PANW) as cybersecurity faces AI disruption. Which selloffs are an opportunity — and which deserve caution?
In Pro Picks, Fairbanks shares three sustainable high-conviction ideas positioned for long-term secular growth. She highlights On Holding (ONON), the premium athletic brand capitalizing on the global wellness trend and expanding brand awareness; Bright Horizons Family Solutions (BFAM), the employer-sponsored childcare provider she believes is misunderstood after conservative guidance but poised to regain consistency; and Autoliv (ALV), the auto safety leader benefiting from rising global safety regulation and increased safety content per vehicle. Each reflects her disciplined focus on durable growth, competitive advantage, and corporate culture — core pillars of her sustainable investing framework.
If you’ve been wondering whether ESG still delivers alpha — this conversation is for you.
Timestamps
00:00 Trailer
02:00 Intro
04:40 What does sustainable investing mean to Amber Fairbanks?
06:10 The evolution of sustainable investing
09:10 What’s on Amber’s checklist?
12:30 The sustainability lens a long-term driver of outperformance
15:00 Would Amber ever invest in oil & gas?
17:40 We can’t look at the world the way we want it to be 
17:20 The AI factor 
20:40 The right questions to ask AI companies
23:25 ITM Mailbag: Nvidia stock (NVDA)
26:30 Salesforce stock (CRM)
28:30 Tyler Technologies stock (TYL)
29:30 Boston Scientific stock (BSX)
31:55 Intuitive Surgical stock (ISRG) 
34:30 Novo Nordisk stock (NVO)
35:40 Palo Alto Networks (PANW)
37:50 Amber’s Pro Picks (ONON, BFAM, ALV) 

Sponsors
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 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: [email protected]

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews