Looking back on the month of April, it was a tough time for many investors. Broadly, many stock market sectors broke their winning streak. Bonds didn’t fare any better as continued strong global economic data pressured long-term yields higher.  &nbsp;  As the macro regime continues to unfold, Forstrong’s investment team continues to believe the world is transitioning toward an inflationary boom. Increased volatility is a key tenet of this shifting economic landscape. But the theme of broadening performance (away from the handful of US mega-cap stocks which carried markets last year) is alive and well. In April, commodity-sensitive exposures and emerging markets equities staged impressive rallies.  &nbsp;  In this episode, Rob sits down with Forstrong Lead PM, David Kletz, to unpack these latest development. They also dive into why an improving outlook in emerging markets could lead to outsized returns this year. &nbsp;

2024’s Rotation Trade Continues

Canadian ETF inflows continued at a brisk pace in May, bringing the year-to-date number to more than $24 billion (handily beating their mutual fund counterparts). Total assets now stand at more than $432 billion&nbsp;with 1407 ETFs to choose from. With all this selection, how do investors know which ETF to buy? &nbsp;  To help answer these questions Rob Duncan, Senior Vice President, Portfolio Manager &amp; Lead ESG Officer&nbsp;at Forstrong,&nbsp;sits down with Patrick McEntyre, Managing Director and Co-Head of Institutional Sales of ETFs at National Bank Financial Group, to discuss:    Key trends within the ETF industry   Where investors are allocating funds   How changes in ETF flows align with Forstrong’s investment outlook and positioning    In addition, Patrick walks through how National Bank provides liquidity on large trades, when ETFs can be more efficient than stocks and bonds, and why the rush to International and Emerging Market equities might be at a tipping point.  &nbsp;

Canadian ETFs - A Bull Market in the Making

Everyone is talking about Nvidia. Just 2 years ago the stock was worth a mere $400 billion. Now, depending on the time of day, it is worth somewhere around $3 trillion and was briefly the most valuable company in the world. Investors should not overcomplicate things here:&nbsp;Nvidia and the broader AI theme are in the midst of a speculative mania. &nbsp; Of course, we have been here before. Investment stories, much like the current one, can be intoxicating and lure every last investor into the trade. During such times, diversification seems unnecessary. Who wants it when “one and done” portfolio decisions look so easy? Yet, investors invariably paying heavily for having taken on concentrated risk exposures. The late 1990s are a prime example. &nbsp; At times like this, it is always useful to revisit the role of the portfolio manager: why do clients pay us to manage their wealth? It is not for flawless clairvoyance. Rather, we are paid to anticipate probable risks, prepare for opportunities and, importantly, not lose our proverbial minds when everyone else has lost theirs. In the latest podcast, Rob Duncan, Senior Vice President, Portfolio Manager &amp; Lead ESG Officer, sits down with Tyler Mordy, CEO &amp; CIO of Forstrong, to discuss the recent volatility in Nvidia and implications for the broader market. &nbsp;

Navigating Nvidia’s Volatility:  Keeping Your Head When Others May Have Lost Theirs

When asked about the prognosis for markets, American financier J. P. Morgan once famously quipped, “they will fluctuate”. &nbsp; That statement is not meant to be dismissive of recent market volatility: the first half of 2024 has faced a long list of new realities from an AI fervour to contentious global elections. But, today more than ever, wealth accumulation demands a focus on fundamentals and looking beyond recent hype. Currently, there are historic opportunities to pivot into new investment themes as markets find a new footing and fresh macroeconomic trends emerge. &nbsp; In this discussion, Rob Duncan, Senior Vice President, Portfolio Manager &amp; Lead ESG Officer, sits down with Forstrong Portfolio Manager, Terry Shaunessy, to explore where investors might be succumbing to market exuberance and identifying strategies to navigate volatility while achieving their financial objectives. &nbsp; Disclosures:   &nbsp;

The Great Market Rotation: Is It For Real?

Investors have been pouring into Canadian ETFs at an unprecedented rate in 2024. While cash and US equity ETFs have dominated flows this year, recent trends suggest a shift is underway. Weaker economic data and volatility in Japan have investors worried, while international markets present compelling opportunities. &nbsp; In the latest Global Thinking episode, Rob sits down with Daniel Straus, Director of ETF Research at National Bank, to discuss recent ETF trends and investment flows. Together, they explore why investors should focus on global opportunities and how to navigate the period ahead.  &nbsp;  Show Notes:  00:00 - Exploring ETF Flows and Market Trends  05:08 - The Growth of the ETF Market  08:25 - Fixed Income Flows and the Demand for Cash  12:41 - The Appeal of International and Emerging Market ETFs  15:47 - The Unwinding of the Carry Trade in Japan  19:59 - Interest Rate Policy and Rate Movements  22:55 - Canadian Equity ETF Inflows and Home Bias  23:25 - Investing in Canada's Energy Markets  25:16 - Canadian Banks: A Demand Spot  28:06 - The Growth of Active ETFs in Canada  30:25 - Covered Call ETFs: Present Income vs. Future Upside  37:46 - Exploring Consciousness and Free Will &nbsp; &nbsp;

Keep Calm and “Carry” On – Seizing Global Opportunities in a Shifting ETF Market

Over the past year, China has grappled with escalating challenges—from a real estate meltdown to tech crackdowns and slowing growth—leading many investors to deem the country "un-investable." However, recent policy moves from Beijing, including significant interest rate cuts and liquidity injections, may point to a major inflection point ahead.  &nbsp;  In this episode, Rob Duncan speaks with Forstrong’s Research Analyst, Shibo Gu, on the ground in Northern China. Together, they unpack the latest stimulus measures and their potential impact on investors eyeing opportunities in the world’s second-largest economy. Is this renewed optimism justified, or should caution still prevail? &nbsp; Chapters 00:00 Introduction to China's Economic Landscape 03:28 Stimulus Measures and Their Implications 08:42 Investment Opportunities in the Wake of Stimulus 12:04 Market Outlook and Investor Sentiment 18:09 On-the-Ground Insights from China &nbsp;  &nbsp;   &nbsp; Previous posts on visiting China.

Podcast From China: Beijing's Policy Shockwaves

2024 is proving to be another year full of surprises. Investors have been bracing for recession as a waterfall of misleading signals have dominated headlines. While many braced for a looming recession, markets defied expectations with strong returns—leaving many sidelined in cash or GICs, missing out on the upside. In this episode of the Global Thinking Podcast, Rob sits down with Forstrong’s CEO and CIO, Tyler Mordy, to unpack the themes from Tyler's latest article, . Together, they tackle the big questions shaping today’s investment landscape: Where are we in the economic cycle? Are geopolitical shocks here to stay? What impact could the U.S. election bring? Is China’s economic stimulus a real game-changer? And, finally, what does the future hold for the powerhouse MAG-7 tech stocks? Join us for a deep dive into these pressing topics and find out why keeping perspective—and staying invested—matters now more than ever. &nbsp; Chapters 00:00 Introduction 01:07 The Five Questions 02:36 Where are we in the Economic Cycle? 10:40 Are Geopolitical Shocks Becoming More Frequent? 17:06 What are the Implications of US Elections? 24:54 Are China's Economic Stimulus a Game Changer? 30:14 What is the Future of the MAG-7 Tech Stocks? &nbsp; Disclosures:&nbsp; Global Thinking Podcast Series -&nbsp; Global Thinking Insights -&nbsp;&nbsp; Who is Forstrong Global -&nbsp; Ask Forstrong -&nbsp; Invest With Us -&nbsp; &nbsp;

5 Questions Keeping Investors Up at Night

Financial technology, or Fintech, in Canada has traditionally trailed behind the U.S. by nearly a decade. Until recently, even basic processes like virtual onboarding were rare in Canada, where advisors and clients often dealt with stacks of paper for signatures and mailed-off documents. But a global pandemic has accelerated change, bringing digital solutions and smartphone-driven client experiences to the forefront. &nbsp; In this episode of Global Thinking, Rob sits down with Oliver Yoon, Head of Harness Investment Management, to explore the rapidly evolving Canadian Fintech landscape. Together, they discuss Oliver's extensive experience in finance, Harness’s mission to empower advisors with independent investment solutions, and how technology is transforming client interactions. They also dive into the role of AI in financial services and the exciting future for advisors embracing innovation. &nbsp; Chapters 00:00 Introduction 01:07 Oliver Career in Finance 06:24 Understanding Harness and Its Role 09:56 The Importance of Independence in Canada 13:02 A Fintech Solution for Advisors 18:29 AI's Role in Financial Services 20:29 Future Opportunities for Harness 22:24 Competition and Unique Offerings 24:33 Personal Insights and Closing Remarks &nbsp; Disclosures:  Global Thinking Podcast Series -  Global Thinking Insights - &nbsp; Who is Forstrong Global -  Ask Forstrong -   Invest With Us -  &nbsp;

From Paper to Pixels: Canada’s Fintech Transformation

In this episode of the Global Thinking Podcast, host Rob Duncan welcomes Keith Dicker, Founder and Chief Investment Officer at IceCap Asset Management, for an in-depth exploration of the global financial landscape. Keith shares captivating insights from his unique career path, the art of global investing, the power of networking, and why risk management remains the cornerstone of successful strategies. &nbsp; Rob and Keith unpack the implications of climbing long-term interest rates, the mounting pressures of government debt and why this could lead to greater opportunities in the future. Keith dives into the intricate dance of inflation and energy markets, offering a sharp perspective on how central bank policies are shaping investment challenges and why you need to keep an eye on currency markets. &nbsp; Chapters 00:00 Introduction to Global Investing Philosophy 01:34 Keith Dicker's Journey in Investment Management 05:42 Market Outlook: Opportunities and Risks 06:10 US Market Dynamics and Economic Indicators 10:04 Long-Term Interest Rates and Economic Growth 12:31 Government Debt and Fiscal Challenges 15:52 Global Savings and Investment Strategies 18:46 Currency Markets and Risk Management 22:31 US Economic Resilience and Investment Opportunities 31:41 Inflation Trends and Market Implications 32:09 Inflation Trends and Predictions 35:31 Energy Market Dynamics 37:23 Investment Strategies for Canadians 40:50 Market Opportunities and Concerns 44:04 Central Bank Policies and Currency Dynamics  50:50 Final Thoughts and Recommendations

Global Thinking Vibecession with Keith Dicker

In this episode Rob joins Forstrong CEO and Chief Investment Officer, Tyler Mordy, to unpack the defining moments of 2024 and the forces shaping 2025. The past year was further evidence we are not in a traditional economic cycle. In the face of elevated volatility, geopolitical tensions, and a charged political landscape markets powered higher. Yet, amidst the chaos, two themes stood tall: the commanding influence of tech giants and the unexpected resilience of global economic growth.  Fast forward to 2025, and the drama continues—think Netflix-worthy twists. Trump 2.0 is shaking up the global order, reviving tariffs and hinting at economic annexation with Canada in the crosshairs. Meanwhile, Canada faces a leadership vacuum, a declared “productivity emergency”, and interest rate cuts that seem to be losing their punch. South of the border, U.S. equity valuations are flirting with new records as rate cuts may be postponed and government spending finally tightens. Globally, the stakes are just as high. China’s deflationary concerns are sending shockwaves through markets, while Europe grapples with pivotal elections that could redefine its economic trajectory.&nbsp;  This episode delivers sharp insights into these unfolding narratives, offering investors a lens to navigate a year where resilience and rivalry go hand in hand. &nbsp; Chapters 00:00 2024 Review: A Year of Volatility 15:05 2025 Outlook: Key Themes and Trends 17:26 Political Landscape: Elections and Economic Policies 22:07 Trump 2.0: Implications for Canada and Global Trade 28:06 Global Economic Dynamics and the Role of the U.S. 30:28 Canada's Economic Challenges and Opportunities 32:15 The Impact of Interest Rates on Economic Growth 36:00 China's Economic Policy and Global Implications 42:04 Reflections: Documentaries and Personal Insights &nbsp;  Disclosures:&nbsp;   Global Thinking Podcast Series -&nbsp;   Global Thinking Insights -&nbsp;   Who is Forstrong Global -&nbsp;   Ask Forstrong -&nbsp;   Invest With Us - &nbsp;

Forstrong Global

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