In the Money with Amber Kanwar

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.
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Timestamps
0:00 Trailer: Rick Rule on commodities, gold, and oil
0:39 Episode intro and season premiere setup
2:02 Disclaimer and what this episode covers
2:28 Welcome to the season premiere with Rick Rule
4:49 Commodities near-term outlook, rates, dollar, and inflation
6:34 Why inflation and bond yields may stay sticky
8:34 Debt, deficits, and why the cycle feels familiar
9:58 Lessons from the 1970s inflation era
12:52 Why falling commodity prices can be buying opportunities
15:00 Gold, war, and negative real interest rates
17:36 Why oil has not reacted like a true shock yet
19:30 When oil shortages become structural
22:57 How Canada can better position itself
26:16 Rick Rule’s investing method and edge
29:55 ITM Mailbag: Abaxx Technologies and the short report (ABAX)
32:23 Nations Royalty and Indigenous led royalties (NRC)
36:47 International Petroleum vs Athabasca (IPCO, ATH)
40:52 Why Dundee still matters to Rick (DC.A)
44:30 Vizsla Silver, huge upside, major risk (VZLA)
51:01 Solaris Resources and Copper Giant (SEI, CGNT)
52:36 AlphaMin Resources and the tin market (AFM)
55:21 Past & Pro Picks (SII, XOM, ELE, AEM, EQX, TLO)Why Rick still likes Sprout
1:08:05 Rick Rule off the mic, outdoors, reading, mentoring

Sponsors
Thank you to our partners at ATB Financial. ATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit https://ATB.com/inthemoney for more information.
For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.
Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.com 
All the charts you’ll see today are sponsored by Wealthsimple Trade. The self-directed trading platform built for active traders in Canada. 
Support for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://www.eqbank.ca/
The Closing Bell is sponsored by The Haliburton Post House: private executive retreats in Ontario's Haliburton Highlands. Reserve your Fall 2026 or Spring 2027 dates at The Haliburton Post House. Mention In the Money for $1000 off your reservation! E-mail
info@haliburtonposthouse.ca for more information. 

Links
https://inthemoneypod.com/ 
https://instagram.com/inthemoneypod
https://facebook.com/profile.php?id=61569721774740 
https://twitter.com/inthemoneypod 
https://tiktok.com/@inthemoneypod
questions@inthemoneypod.com
DISCLAIMERS 
The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.
In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.

Contact: questions@inthemoneypod.com

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Richard Abboud dropped out of university to pursue entrepreneurship. Today, he’s the Founder & CEO of Forum Asset Management, a $4 billion asset management business—and one of the country’s most vocal advocates for a more ambitious Canada.
In the final installment of Can Canada Meet the Moment?, Amber Kanwar sits down with Abboud to trace his journey from running teenage dance venues to building one of Canada’s largest student housing businesses. He explains why Forum is betting on student housing and self-storage, where he sees opportunity in Canadian real estate, and why his investment philosophy starts with finding an “unfair advantage.” He also breaks down how Forum offers investors access to these private-market opportunities through a range of funds designed for different risk appetites and needs for income and growth.
But Abboud is also thinking beyond his own business. He founded Shift Canada to help change Canadian culture around risk, innovation and the fear of failure. Its Shift Failure program is taught in junior high and high schools across the country and has reached 600,000 students in three years, encouraging young Canadians to see failure as part of growth rather than something to fear. Shift Canada also tracks Canadians’ willingness to take risks and be ambitious through its Bold Ambition Index.
Can Canada become more ambitious, take bigger risks and seize the opportunity in front of it? Abboud believes there’s no reason Canada shouldn’t be at the top of the world—but Canadians need to be willing to speak up, take risks and get on with it.
Timestamps
00:00 Intro
00:09 Sponsor message and disclaimer
00:33 Welcome to the final installment of the innovation series
01:01 Richard Abboud’s background and what this conversation covers
01:54 Richard’s origin story and entrepreneurial journey
03:37 First business: teenage dances and early lessons
04:46 From broker to Forum Asset Management
05:22 Forum today: assets, student housing, and self-storage
07:15 Why student housing and self-storage still make sense
08:49 Immigration, population trends, and student housing demand
10:04 How the fund is structured for investors
11:42 Retail investor access and current opportunities
13:07 Long-term outlook for the asset class
14:51 Why Richard got involved in Canadian innovation
15:43 Midlife pause, then back to building
16:38 Canada’s innovation problem and cultural barriers
17:57 Shift Canada and the Shift Failure program
19:00 Teaching kids to embrace failure
21:44 Can Canada celebrate entrepreneurs better?
23:24 Why CEOs are speaking up now
25:26 What still needs to happen in Canada
26:24 Tariffs and consumer confidence
27:03 How the business is adapting
27:37 Fun, hobbies, and travel
29:00 Closing remarks and next episode teaser

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

Thank you to our partners at ATB Financial. ATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit https://ATB.com/inthemoney for more information.
For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.
Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.com 
Support for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://www.eqbank.ca/
The Closing Bell is sponsored by The Haliburton Post House: private executive retreats in Ontario's Haliburton Highlands. Reserve your Fall 2026 or Spring 2027 dates at The Haliburton Post House. Mention In the Money for $1000 off your reservation! E-mail
info@haliburtonposthouse.ca for more information. 
Links
https://inthemoneypod.com/ 
https://instagram.com/inthemoneypod
https://facebook.com/profile.php?id=61569721774740 
https://twitter.com/inthemoneypod 
https://tiktok.com/@inthemoneypod
questions@inthemoneypod.com
DISCLAIMERS 
The content provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.
In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.

Contact: questions@inthemoneypod.com

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Canada was one of the first countries in space. Now, as a new space race takes off, does it have what it takes to become a global leader again?
In this episode of our summer series Can Canada Meet the Moment?, Paige Ellis sits down with Mike Greenley, CEO of MDA Space—Canada’s answer to SpaceX—to explore the enormous economic opportunity opening up beyond Earth. Greenley says the Earth-to-Moon economy represents a new economic frontier worth trillions of dollars, with humans expected to start living and working on the Moon as early as 2028. Canada already has world-leading expertise in space robotics, satellite communications and Earth observation—but capturing the opportunity will require moving faster and thinking much bigger.
Greenley explains why Canada needs its own launch capability, how rising defence spending could help build a stronger domestic space industry, and why relying on other countries for critical technology creates both economic and sovereignty risks. As the U.S. pulls back globally and countries put a greater emphasis on sovereignty and security, Greenley explains why Canada needs to build more critical capabilities at home while continuing to forge strategic partnerships abroad. He also makes the case that Canada’s unique combination of mining expertise and space robotics could eventually give it an advantage in lunar and asteroid mining, where potentially enormous deposits of critical minerals are waiting to be explored.
Plus, Greenley lays out his ambitions to turn MDA Space into a much larger global company while helping create a new generation of billion-dollar Canadian space businesses—and explains why commercial trips to the Moon could become a reality within the next decade.
Timestamps
0:00 Sponsor intro and opening
0:58 Welcome and why the space economy matters
2:45 Rapid-fire with Mike Greenley
5:30 Canada’s place in the space boom
8:52 Defense, urgency, and how Canada scales capability
12:48 Why this time could be different
14:00 What industry wants from government
17:04 Defense procurement: best equipment vs. Canadian industry
20:38 Partnerships, sovereignty, and the Gateway pause
23:57 Canada’s mining edge in the new space race
26:36 Winning public support for space
31:37 ESG, capital, and space investment
35:29 Building a stronger Canadian space ecosystem
37:37 Why U.S. expansion matters
39:06 When commercial moon trips become real
41:39 Outro and next episode tease

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

Thank you to our partners at ATB Financial.  ATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit https://ATB.com/inthemoney for more information.
For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.
Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.com 
Support for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://https://www.eqbank.ca/
Links
https://inthemoneypod.com/ 
https://instagram.com/inthemoneypod
https://facebook.com/profile.php?id=61569721774740 
https://twitter.com/inthemoneypod 
https://tiktok.com/@inthemoneypod
questions@inthemoneypod.com
DISCLAIMERS 
The content provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.

In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.

Contact: questions@inthemoneypod.com

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

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.

Timestamps
00:00 Intro and sponsor message
02:44 Canada’s energy moment
03:23 The “down five, up five” thesis
06:46 The GDP impact of growth
08:03 The federal shift on energy
13:37 Public vs. private sector paths
17:09 Pipeline economics explained
23:09 Carbon tax and production incentives
28:33 Will investors come back?
31:26 Why U.S. energy is vulnerable
33:27 How he values assets
35:25 Why scale matters in oil sands
38:15 Greenfire and the neighborhood strategy
41:51 Can Canada meet the moment?
Sponsors
This show is brought to you by Forum Asset Management, presenting sponsor of our Innovation Special: Can Canada Meet the Moment. Learn more at https://forumam.com.

Thank you to our partners at ATB Financial.  ATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit https://ATB.com/inthemoney for more information.
For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.
Thank you to our partners at Hamilton ETFs. For more information visit https://hamiltonetfs.com 
Support for this podcast is brought to you by EQB – the company behind EQ Bank, Canada’s Challenger Bank. For more information visit https://https://www.eqbank.ca/
Links
https://inthemoneypod.com/ 
https://instagram.com/inthemoneypod
https://facebook.com/profile.php?id=61569721774740 
https://twitter.com/inthemoneypod 
https://tiktok.com/@inthemoneypod
questions@inthemoneypod.com
DISCLAIMERS 
The content provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.
In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.

Contact: questions@inthemoneypod.com

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

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.
Timestamps
00:06 Can Canada Meet the Moment brought to you by Forum Asset Management
01:02 Meet Michelle Romanow
02:34 Rapid-fire warmup
08:21 Founder identity
11:11 Why Canada loses startups
14:11 Policy vs culture
20:16 Rewarding oligopolies
25:51 Founders voting with their feet
27:31 Defense, health, and AI
38:10 Canada’s AI opportunity
43:01 Meet Laura McGee
47:17 Diversio fundraising struggle
53:02 Delaware structure and Canada
01:05:52 Silicon Valley Bank collapse
01:13:45 — What Canada must change

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

Thank you to our partners at ATB Financial.  ATB Cormark Capital Markets is a leading North American investment firm providing holistic corporate and capital markets advice and full-service financial solutions. Visit 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 
Links
https://inthemoneypod.com/ 
https://instagram.com/inthemoneypod
https://facebook.com/profile.php?id=61569721774740 
https://twitter.com/inthemoneypod 
https://tiktok.com/@inthemoneypod
questions@inthemoneypod.com
DISCLAIMERS 
The content provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.
In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.

Contact: questions@inthemoneypod.com

#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews