In a world of higher rates, stubborn inflation and expensive U.S. stocks, Canada just might be your safest bet.
Ryan Bushell, CEO & Portfolio Manager at Newhaven Asset Management, invests in Canadian dividend-paying companies—and his portfolio is up 18% so far this year. He joins Amber to explain why he thinks Canada is well positioned in this environment, why infrastructure and energy remain at the heart of his portfolio, and why he sees little reason to chase the U.S. market at current valuations.
In the Mailbag, Ryan tackles one of the market’s most beaten-down dividend stocks, TELUS (T.TO), and explains why he’s sticking with it despite the selloff. He also weighs in on Aecon (ARE.TO), WSP Global (WSP.TO), Dollarama (DOL.TO), Canadian REITs and CCL Industries (CCL.B.TO)—including which names he owns, which ones he’s watching and what would finally make him buy.
Plus, we check in on Ryan’s past Pro Picks: Pembina Pipeline (PPL.TO), Brookfield Infrastructure Partners (BIP.UN.TO) and ARC Resources (ARX.TO), which was acquired by Shell (SHEL). Ryan explains why he still sees more opportunity ahead for Pembina, why he likes Brookfield Infrastructure after its recent pullback, and why ARC’s takeover was bittersweet—delivering a gain, but taking away a company he would have been happy to own for decades. Then he reveals his latest Pro Picks: Tourmaline Oil (TOU.TO), Enbridge (ENB.TO) and AltaGas (ALA.TO), three companies positioned around his conviction that Canada has a much bigger role to play supplying energy to the world.
Timestamps
03:53 Rising Interest Rates and Dividend Stocks
04:29 How Tech Debt Is Pushing Rates Higher
06:06 Could the US 10-Year Treasury Pass 5%?
07:21 Why Canada Still Looks Attractive
08:29 The Strategy Behind the Outperformance
09:26 Why Infrastructure Stocks Could Lead
11:09 Is Infrastructure Still a Buffer Against Rising Rates?
12:04 Why Canadian Investors Are Avoiding the US
12:17 Life Insurance Stocks vs. Banks
14:15 Why Ryan Doesn’t Sell Often
17:27 ITM Mailbag: Can TELUS Recover? (T)
26:00 Is Aecon Still a Buy? (ARE)
28:43 Is WSP’s AI Risk Overblown? (WSP)
31:15 Is Dollarama Still a Long-Term Investment? (DOL)
34:30 Are REITs Worth Buying?
38:16 What Does Ryan Think About CCL Industries? (CCL)
40:48 Past & Pro Picks: PPL, BIP, TOU, ENB, ALA
52:56 Closing Bell: Coaching Hockey and Family Life
54:24 Final Thoughts and Episode Outro
Sponors
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.
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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://
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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/
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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.
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