{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"In the Money with Amber Kanwar","title":"Why This Portfolio Manager is Sitting on a Mountain of Cash","html":"","width":"100%","height":180,"duration":3359,"description":"In this episode of In the Money with Amber Kanwar, Amber sits down with Mike Vinokur of Propellus Wealth Partners which is part of iA Private Wealth, who’s taking a rare and defensive stance: holding a staggering 37% of his equity portfolio in cash. In a world where investors chase returns and FOMO dominates market behaviour, why is this seasoned money manager pumping the brakes?Mike unpacks the strategy behind his cash-heavy position, citing market froth, valuation risks, and a fundamental belief that cash is no longer \"trash\"—especially when it earns over 4% risk-free. From U.S. exceptionalism to Canadian real estate risk, and from tech euphoria to the dangers lurking in private equity, this episode offers a wide-ranging, no-nonsense look at where things stand—and where they might be headed.He answers questions straight from the mailbag and doesn’t hold back on what he thinks could derail—or reignite—markets in 2025. The pair discuss names like Brookfield, Fairfax Financial, Cummins and Uber. They also talk about BCE’s hot-button dividend and the high-stakes drama at Parkland where Mike is a shareholder. Plus, Mike shares his top “Pro Picks”: Alphabet, Air Lease, and Lincoln National—three stocks he believes offer real long-term upside in a challenging market.Whether you're a cautious investor or a risk-on trader, this episode delivers the kind of insight that could make or save you money.Timestamps00:00 Show Intro02:45 Amber welcomes Mike Vinokur and finds out why he’s sitting on a pile of cash right now06:30 History tells us that valuations matter08:45 Did Mike buy recent dips?11:30 Why Mike isn’t convinced this is the end of U.S. exceptionalism13:30 Why Mike thinks Canada is going into a recession15:40 Will a slowdown in real estate impact the stock market?17:30 Where are we in the economic/market cycle?19:45 ITM Mailbag: How does Mike feel about the Brookfield web of companies? (BN.TO, BAM.TO)23:35 Mike’s thoughts on Fairfax Financial? (FFH.TO)25:30 What is...","thumbnail_url":"https://img.transistorcdn.com/er9NR63MREFV6i2rlZX8f-yMY6gNSK83fNUOzBPoSt8/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8zZmQy/OWMwNmEzY2Y0YTg1/NjM4MjQ3Y2NjMWYy/Zjk1My5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}