U.S. mid-cap equities are often overlooked, but beneath the headlines of consumer weakness and market volatility, there’s a more nuanced story. Portfolio manager Jeff Mo shares a bottom-up perspective on resilient—though bifurcated—consumer spending, margin surprises, and a capital expenditure boom that extends beyond AI. The discussion explores how company fundamentals, competitive advantages, and valuation opportunities are shaping portfolio decisions, with insights into sectors like defense and industrials. Jeff also addresses the impact of macro trends on stock selection, the evolving CapEx landscape, and why mid-cap valuations may offer compelling long-term potential.

Bitcoin has evolved from a digital experiment to a headline-grabbing asset, sparking debate about its role in portfolios and the future of money itself. Yet beneath the hype lies a complex reality: Bitcoin is volatile, difficult to value, and shaped by shifting regulatory and technological landscapes. This article offers a practical, risk-aware framework for evaluating Bitcoin, emphasizing the importance of skepticism, clear purpose, and prudent position sizing. Whether you choose to invest or abstain, the boring principles of diversification, humility, and risk management remain as relevant as ever.

In this episode, Global Credit Portfolio Manager Brian Carney unpacks what he believes are some of the most pressing issues in credit markets today. He explores whether recent private market bankruptcies signal deeper systemic concerns, how to position for sovereign bond issuer risk in a sticky inflation world, and the impact of the AI-driven debt wave on credit spreads. He also discusses regulatory rollbacks in the lending markets, credit risk premium mispricings, and concrete portfolio actions for late cycle markets.

In this episode, portfolio manager Peter Lampert discusses the evolving landscape of international equities, with a special focus on the portfolio’s exposure to AI enablers—companies powering the semiconductor supply chain, from power supply units to memory makers. Lampert explains the importance of distinguishing between firms merely riding the AI investment wave and those whose competitive positions are fundamentally strengthening as a result. 

Paul Moroz returns to share an update on our global equity strategy. We dig into what's changed since Paul resumed the lead portfolio manager role, how the team's collaboration has evolved, and why a more diversified and resilient portfolio is the result. Listen for Paul's take on why optionality and humility matter more than ever.

There’s renewed talk in the news about ending the requirement for public companies to report quarterly earnings. At first glance, the commentary makes it sound like a step toward solving our short-term obsessed investment culture. But the reality is more complicated. In this article, we explore why the frequency of financial reporting may be less important than how leaders are rewarded—and how well-designed compensation systems, meaningful ownership, and a focus on long-term value creation can foster true alignment between management and shareholders. Discover why the path to sustainable results isn’t about reporting less, but about incentivizing stewardship that endures well beyond the next quarter. 

In this episode, we sat down with our Director of Research, Vijay Viswanathan, and Institutional Portfolio Manager, Kevin Minas, to talk through their observations this past quarter. We talk macro, micro, and everything in between, touching on changing market dynamics, central bank policy, how the portfolios are doing in this environment, and, finally, how we're positioning ourselves as we move forward.

Credit markets appear calm, but beneath the surface, early warning signs are flashing—especially in the auto sector. This article explores how auto credit, often the first to show stress when consumer conditions deteriorate, is now signaling broader risks. With credit spreads near their lowest levels in decades and risk premiums shrinking, investors are being asked to accept more risk for less reward. The rise of private credit and declining transparency further mask growing vulnerabilities. The auto sector’s mounting strains may be the canary in the coal mine, warning of mispriced risk and potential instability across the broader credit market.

In this episode, Fixed Income Portfolio Manager Crista Caughlin breaks down the macro forces driving bond markets in 2025. From trade uncertainty to central bank policy shifts, Crista explains how these themes are shaping Canadian fixed income performance and where she sees opportunities ahead.

Equity analyst Ian Turnbull shares insights from his latest trip to Japan, highlighting the unique aspects of Japanese society and corporate culture. From surplus and stakeholder capitalism to why you might get more than you pay for at a 7-Eleven convenience store, Ian reflects on the value of on-the-ground research, the trade-offs involved in capital allocation decisions, and pockets of real opportunity within Japan's evolving business landscape.   

This article explores why financial markets and the economy often move out of sync, showing that markets typically anticipate future developments—such as policy shifts or recoveries—long before economic data catches up. Using historical examples, it highlights that market rallies can occur even during economic downturns, and emphasizes the importance of understanding index composition and maintaining diversification rather than relying solely on economic headlines. 

In this episode, U.S. Equity Portfolio Manager Grayson Witcher explores the evolving intersection of government policy, innovation, and capital expenditure (CapEx) in U.S. markets. The discussion unpacks how public spending and strategic government stakes—especially in sectors like semiconductors and defense—are reshaping the investment landscape. Grayson reflects on the unique blend of complacency and optimism in today’s markets, the uncertain returns on massive AI-driven CapEx, and the importance of management quality and adaptability in navigating this new era.